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Die. Thats the mantra so many businesses out here. The tsunami of invention disruption reaches far beyond this intense city and the valley that abuts it. The storm clouds darkening the fortunes of others in the inevitable riptide of creative destruction. The reverberations rattle whole industries with a wake so brutal they often determine the direction of stock prices in whole segments on a day where the dow dropped 55 points, s p lost. 16 and the nasdaq decreased. 24 lets just deal with the news. Take the biggest stock news of the day, the possible combination between shop and Td Ameritrade with the former buying the latter in a 26 billion combination that would create what might be an unbeatable 5 trillion online colossus these two companies have been sworn opponents ever since electronic trading became the way of the future more than 25 years ago. They have been in a battle for assets come on, its been incredible. And assets and ....
Just because a deal gets done that doesnt mean it will make sense. The dow finished flat, s p advanced 0. 7 , we need to address the merger mania because this market was dominated by deals today. Both real and imagined before we get into the weeds let melee out my position for you. I love mergers and acquisitions. The higher the stock market goes and it reduces the supply of stock floating around and anything that takes out supply is good news even if its applied to buy backs, however, i dont love speculating on mergers and acquisitions especially when acting on a tip as always, i say tips are for waiters if youre not for sure a deal is coming, Accurate Information is illegal. If you dont know, then youre just gambling. My rule of thumb never bet on a stock because of the speculation, only buy a stock of a company with healthy fundamental. Any potential deal activity lets say thats gravy which brings me to todays action this ....
Morgan stanley topping estimates. Netflix and tesla after the bell. Plus, chinas outlook, q3 Economic Growth coming in better than expected. Jpmorgan, citi, and nomura all boosting their forecasts on the data. The nvidia headwinds. Morgan stanley and citigroup lowering price targets on the stock after new u. S. Restrictions on chip sales to china. Shares down nearly 2 ahead of the open. Lets get to the markets and this busy morning on the earnings front. Were graduating, sara, from the big banks, although we got Morgan Stanley today, into some of the regionals and more of the consumer names as well. Kind of a mixed picture across the board. I think front and center is still this move in bond yields that we have been seeing, especially on the back of yesterdays move higher. The twoyear yield got to 5. 2 . Above 5. 20 , yeah. These are very high levels and it makes you wonder ....
Of strong earnings. Airline also slashing its expected deliveries amidst boeings quality crisis. And teslas asking its shareholders to reinstate elon musks 56 billion pay package. That was back in 2018. This after, of course, Delaware Court voided that compensation earlier this year. Lets begin with the markets, set to open higher after the dow ended six straight sessions of declines. S p, nasdaq, russell did extend their daily losing streaks to three. Yesterday, as you know, the fed chair suggested that rates could remain higher for a longer period. Heres what he had to say about battling inflation. More recent data shows solid growth and continued strength in the labor market but also a lack of further progress so far this year on returning to our 2 inflation goal. The recent data have clearly not given us greater confidence, and instead, indicate that its likely to take longer than expected to achieve that confidence. That said ....