Exchange on cnbc. Im wilfred frost. Im Courtney Reagan in for sara eisen nice to have you here today not on my own. Youre not on your own. We didnt strand you today very nice i feel relaxed good to have you back here lets have a look at the markets. The fed remains center on wall street today investors continue to digest the news that the central bank will begin winding down its 4 4. 5 trillion Balance Sheet next month. Yesterday the markets did not sell off the dow was up 0. 2 . The s p and nasdaq were either side of flat there was even room for bank stocks to rally the best part of a percent. Energy is the best performing sector bottom line is markets did not sell off theyre not selling off again today. Essentially flat in the premarket. Tenyear treasury note we did see a reaction. The peak was just shy of 2. 29 yields did increase. We are just slipping down a bit from there in general, the reaction was yields up a bit, and yield curve flattening a little bit. Of course yields had al
Not to pursue the spinoff of the shares, roughly 15 of alibaba that it owns into a separate company. That of course is is spinoff thats been planned for the last nine months. Announced early last year. And expected to have taken place early next year. Not going to happen. In fact, now sources familiar with the situation tell me the board has directed the company to examine a spinoff of its core business likely to also include its stake in yahoo japan. A socalled almost reverse spin which would have the effect of leaving the alibaba stake in place. And make sure that all of it would be well, that would be tax free. There would be tax on the spin of yahoo as core business. But it would not be near the potential tax bill that the company faced if its spinoff of the alibaba stake was not deemed to be tax free. And that was the key consideration here for a board here that had firmly adhered to moving ahead with that spin. In recent weeks the number of shareholders had come forward and commu
Liz the top three stories you need to know. Youve got a hot stock, what a turnaround at aol. Revenue rises for the first time in eight years, thanks to a big pick up in ad sales. Youve got mail. Liz search is gaining traction. Aol ceo talking to us about the developments and the future. Plus housing in recovery. New orders, prices even permits are heading in the right direction. Can it last . Homebuilder hovnanian stock building to higher heights. The ceo is talking to us about the real story of real estate. And a monster storm barrelling across the northeast could mean monster sales for publicly traded snowplow name douglas dynamic, when major snow and blizzard conditions heat up the stock, we have the ceo in a fox business exclusive. Countdown begins right now. Liz happy friday everybody. Im liz claman. Countdown to the closing bell just one hour left of trading for the week. In the middle of a northeastern storm, got a little sunshine down on stocks, percolating higher at their best
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