Stocks . Youre being hit with unexpected fees, its legal, and the cost is eye popping. All that and more tonight on nightly Business Report for monday, july 29th. Good evening, everyone. Big dollars pouring in to big deals today with three multibillion dollar mergers, two of the Worlds Largest advertising agencies agreed to merge. France will create a new ad biamus. And the scale and power to better compete for digital ad space. Also today, a big deal in the Luxury Retail space. Canadas Largest Department store chain, which already owns lord taylor is paying about two and a half billion dollars in cash for saks 5th avenue. The company will have 320 stores in some of the biggest cities in north america. A mega pharmaceutical merger, perago is paying for alon corp. , opening the way for it to move to ireland for much lower tax rate and to expand into italy. A smaller deal to tell you about, Sinclair Broadcasting group is buying eight abc affiliates along with a 24hour cable news channel
Wall street traders are using things to do things they shouldnt be doing. Well show you how it works today. First though to sue at the nyse. Sue . Good to see you, ty. The market is a little bit on the dunn side through much of todays session, at least so far. Right now the dow is down 46 points. The s p is down 6. 75. Nasdaq off 12. 75, and the broaderbased russell 2000 is off 6. 25 points on the trading session. Lets talk to bob pisani about the market at this point and weve had a big amount of earnings last week. What are you watching most this week . The big thing is mr. Bernanke on wednesday. A very delicate dance to make sure were not saying too much because its got to be all words. No press conference on wednesday, and then, of course, nonform payroll reports on friday so the market is kind of reflecting a little bit of that sort of indecisiveness. You can see the dow, and this looks like fridays chart, a down day on friday but middle of the day drooped down and then kind of cam
Million . No problem. Just hours to go until the 550 million powerball jackpot. We have the winning tips from someone who has beat the odds seven times. Even when they say its not, its always about money melissa got my powerball. Lets take a look at the market headlines. Call it music to investors ears. Stocks rallied big following word of progress in congresss fiscal cliff negotiations. Yeah, i will believe it when i see it. After tumbling in early trading the dow rebounded more than 200 points, closing up 10 points. See what happens when congress stops screwing things up . I dont know. Well see. Disney joining a wave of companies increasing their annual stock dividend. The company will raise the stock cash payout by 25 to 75 cents a share. Disney is trading up slightly of a hours on the news. Shares of costco leaped more than 6 . The Company Beat Expectations for november samestore sales and announced it will pay out a special stock dividend, 7 per share. Now to our top story tonight
Million . No problem. Just hours to go until e 550 million powerball jackpot. We have the winning tips from someone who has beat the odds seven times. Even when they say its not, its always about money melissa got my powerball. Lets take a look at the market headlines. Call it mic to investors ears. Stocks rallied big following word of progress in congres fiscal cliff negotiations. Yeah, i will believe it when i see it. After tumbling in early trading the dow rebounded more than 200 points, closing up 10 points. See what happens when congress stops screwing things up . I dont know. Well see. Disney joining a wave of companies increasing their annual stock dividend. The company will raise the stock cash payout by 25 to 75 cents a share. Disney is trading up slightly of a hours on the news. Shares of costco leaped more than 6 . The Company Beat Expectations for november samestore sales and announced it will pay out a special stock dividend, 7 per share. Now to our top story night t could
Training camp and folks around the country who love the support are thinking about their Fantasy Football Team coming up this fall. Who do you pick . When you pick, you want performance and numbers. You want some hard stuff to go on when you say yeah, i want that player. Well, tonight, im going to give you numbers you cant argue with. We want to start tonight with the undercovered story in america, its the obama economy. The biggest piece of hidden news in recent months as i see it is graze news surrounding the economic recovery. It is almost amazing. Obama economy is booming. How can we not make that case . Typically the president is always reluctant to talk about good economic news. Hes always been so concerned about the downtrodden and dont want to oversell how good things are. They dont want to hurt folks out there still looking for work. Hold the phone. On thursday, we saw a reversal in a different tone from the president. President obama had no problem highlighting americas recen