An antitrust probe overload. The u. S. Justice department launches its own facebook probe. This, as the social network is already the focus of a federal trade commission investigation. But first to our top story, pellet gun falling as much as 9. 5 after raising more than 1 billion in its u. S. Initial public offering. It is the latest unprofitable startup to struggle in its trading debut, but the ceo john foley remains upbeat about pelotons future. s jason with Bloomberg Kelly at the nasdaq. John we are playing the long game. We see this as building millions and millions of subscribers around the globe in the coming years. Now we have the money to do that. We are fully funded after todays primary, so we are feeling confident. Jason when you think about the last couple of days and weeks, you mentioned the market. It is a tricky ipo market, to say the least. Do you have a sense of where the miscalculation was . Or if there was one . My eights is fundraiser for appellate on. It is a funny
Index is up 1 today as well. Key banks saying memory chipmakers are possibly on the rebound come so that has some rallying today. So that has semis rallying today. Its get to our guest, Charles Dumas of ts lombard. What will mario draghi announced tomorrow . Charles i think he will come through with some further 10 basis point move may be on the negative rates, from 42 50. 40 to 50, and with tiering on the banks. That is the important thing. Theres also likely to be a revisiting of quantitative sing, for which theres about , yeorth of scope Something Like 30 billion a month. Vonnie weve been hearing from strategists and economists that say there is really not much that that kind of easing will do, that that kind of stimulus, and even earlier on, our guest took exception to the word stimulus, saying this is not going to stimulate european economy. Charles i dont think it does. I think your guest was correct. The basic point is for 10 years now, or at least since 2011, the euro zone has
The labor secretary will retain his position as well. Talks to exit the eu are scheduled to begin in less than two weeks. People, mostly civilians, are dead after soldiers clashed over food aid in somalia. Fighting erected at a Distribution Site after some soldiers tried to steal food meant for refugees and soldiers to stop and others try them. Many refugees have been streaming into somalia searching for food and support from International Aid agencies. Global news 24 hours a day powered by more than 2700 overalists and analysts in 120 countries. I am mark crumpton. This is bloomberg. Julia live from bloomberg headquarters in new york, im julia chatterley. Scarlett i am scarlet fu. Joe i am joe weisenthal. First news, what did you miss . tech stocks getting slammed on heavy volume. Have we seen the top in big cap tech shares . Learning to expect the unexpected. U. K. Election results leave investors with few clues on how the pound will trade in the near term. Deadly drug epidemic the f
We talked about the debates on the markets. Lets go straight to the market desk where matt miller has the latest. Matt we are a half hour in and down across the board. Check out the major indexes, a little half percent of the dow jones, more than 100 points the drop. Yesterday we had the best performance from the major equity indexes in two months. This is a little bit of a reverse bound. 2075. Wn 0. 4 , if you look at the map, and i have it in the bloomberg terminal, you can see nine out of 10 Industry Groups are down right now. The only gainer and really unchanged, consumer mark it is on my touchscreen actually. Matt bismarck talking to me . Turn off your microphone. Consumer discretionary, the biggest losers. Let me tell you what happened at disney. Disney mr. Earnings for the first time in missed earnings for the first time in five years, the first in 20 quarters. Earnings down, real concern about retailers, espn earnings and revenue. Actually espn earnings up a little bit because
Labs. There were promises that her company is going to survive. From bloomberg World Headquarters in new york, we are about 30 minutes into the trading session. I want to head to the markets desk where julie hyman is. It has been a mixed bag of earnings. We are at the hyatt the market. Julie we are at the high this session. That is partly because of earnings, partly because of a rally in energy and material stocks. Those are the best performance rear watching today. The nasdaq is lower at the moment. The s p and dow are holding on to their gain. The dow extending gains from yesterday, a ninemonth high. The nasdaq was at the highest of the year as well. It had paired its declines for the year to less than 2 . You can see it is lower today. It is now down a little more than 1 on the year. The s p and dow are higher and that climb is building. We should point out if you look at the s p by a couple of other measures including its total return index which fasters factors in dividends or equ