Nbc news reported late this afternoon that purduea pha is offering between 10 and 12 billion to settle mor than 2,000 lawsuits connected to its role in the crisis. Purdue pharma, you may know, is the maker of oxycontin, the powerful pain killer that has been at the center of the opioid epidemic. The reportede offer to set come one day after a landmark ruling against j j which, as we reported last night, was ordered to pay half a big tettle lies dolla half a bil dollars to the sf oklahoma for helping to ignite one of the biggest epidemics in his. Ylan moiy has the details from reporter Purdue Pharma and the family are negotiating to settle the lawsuit between them. About 2,000 cases were consolidated cn federrt in ohio, accusing the company of starting and susining the ioid crisis. Nbc reports purdue has proposed fili bankruptcy and restructuring into a forprofit trust. That trust would p out between 8 and 8 billion, including about 4 billion of inkind drugs to localgovernment, includin
ferro, alongside david westin. joining us for the hour is megan greene, the chief economist. coming up, we will break new highlights of that conversation vladimirian president putin and get to the commodity market as well. we want to get you up to speed on what is happening in financial markets worldwide. byures are softer, negative 1/10 of 1% on the s&p 500, down two points after a six-day winning streak on the benchmark in the united states, and in other record high close or tuesday. .25%,ollar up more than and we are down to 2.3 one on the 10 year, david. david: let s get a look at what is happening outside the business world. emma: the girlfriend of the shooter in the las vegas massacre has returned to the u.s.. she arrived in los angeles last night and was met by federal agents. she had been in the philippines. authorities have called her a person of interest. there are pictures showing the inside of stephen paddock s hotel room, rifles clearly visible. he meticulously p
lag last year s reports. what that means for the markets. softbank buying arm holdings for $32 billion in cash. we ll give you the details, some insight and context on this massive deal. republican national convention kicks off in cleveland. what s on the agenda and what surprises could be in store? but first up futures on the rise to kick off the week. the dow and s&p near all-time highs. markets largely shrugging off the attempted coup in turkey and on a busy week of earnings, b of a beating on the bottom line, 36 cents versus estimates of 33. deposits up 5.8. some of the metrics not matching those of its peers, jim. but still, this is a grind out quarter. return on equity, getting double digit. what i liked best about it, really, this is kind of interesting, this is a company that s well ahead in mobile and you have an amazing decline in branches from 6,000 to 4600. yeah. and that is because people are rapidly adopting mobile. interesting brick and mortar story w
europe right now. the bull market is not done. there s no reason to believe it should be done at this point. pete? i tend to agree with jon. but i think it s getting fatigued. i think there s a little bit of tire. if it was a mile and you ve run three lapse, we re on that fourth lap and it s hard to get that momentum back we ve seen in the past. some may be listening to this conversation and saying, look, guys, why are we talking about whether the bull market s dead, it was over already. sectors biotech down 40% from the high. energy, 36. transports down 30. financials, 23. materials, 27. hasn t the market been in a bear market? well, we certainly pushed down pretty far. i think the reason people haven t accepted we ve been in a little bit of a bear market is the fact that this snapback has been so sudden. it s like that bear market lasted all of about two seconds. look at the differences we ve seen, judge, from that oil price of 26 to 37, volatility intersections acr
our road map begins with the markets taking a dive overnight. dow off triple digits as the stock moves overseas. disappointing data weighs on equities in the u.s. earnings from ge honeywell and american express have those stocks moving as well as another round of job cuts from schlumberger. verizon announcing it s breaking up the cable bundle into smaller bundles. the new tv offer we ve got to explain coming up. futures moving lower. taking their cue from declines in europe. here in the states consumer prices up 0.2 due to higher energy cost. the core rate up 0.2. few things working against the bulls. we mentioned that crackdown on margin lending, the back and forth between greece and germany continues. few downgrades today. several revenue misses on large caps, as well. seems to be a number of things rattling traders, including what was a glitch in the bloomberg system overnight delayed a uk bond sale. never good news when you have a bad behind what happened in china