Leventhal. We are basically at the highs of the day, call it a 500point gain, the s p 500 good for 1. 5 . Nasdaq which was negative very early today is back above 12,000, thats a gain of 1 . The small caps have had a tremendous run of their own. The russell 2000 is up by better than 2 . Josh brown, if i told up that the dow on march 23rd hit a low of 18,213 and we have had a 12,000point rally since then, you would say what i would say this is why people who are not only invested for long term by continually adding to their investments, 401 k s or automated advisers, et cetera, have done themselves a huge favor people on the other side of that debate who think their job is to wake up every morning and make in our out decisions have not done themselves a favor. Im 43 years old im pretty sure ill see dow 100,000 someday. Is he you have to orient your mentality in order to get to days like today. If your mentality is oriented toward trying to outsmart everybody all the time, you dont get t
About 800 points on the dow. Youre still looking at a loss of greater than 5 a huge story today the crude oil crush as the saudis initiate a price war. We should think about it in terms of the speed and velocity of decline the s p the is down about 17 . We hear about the news with are the russians and saudi arabia. The problem i have is you have a very healthy patient being the market now it appears to be in intensive care we dont seem to have any doctors around to treat them in intense iive care negative rates are present in the uk, first time ever. We are battling here in the United States with the potential for negative rates the missing link in all of this which is what we saw in 2008 was a global coordinated effort. There does not seem to be a globally coordinating effort to address that i think thats what the market is riding against. Liz young, what do you see . Lets start with the globally coordinated effort i think theres been an effort from Central Banks thats been reasonably
Dont let that fool you. It has been a great year for the stock market. Some of the best gains since 2013. Lets dive into individual movers. When we talk about the year, it was the year of ipos. I want to break down the best and the worst ipos for you. We will start with the winner, roku. Up 273 . It opened for this year price of 14. We are now at 38 a share. Quite a big gain. What was not a good ipo was blue apron. Off about 59 this year. It ipod on june 28 at 10 a share. Now at around five dollars a share. That is where we are in terms of ipos. There are some individual movers today, some winners and some losers. I will focus on the losers. One of them is apple. Thats why the nasdaq is the worst performer of the major averages. Apple is off about one half of 1 . They apologized to customers. We saw this headlines this morning for changing software that reduced the performance of older iphones. Apple said it did not intentionally made to shorten the life of those, so it is offering bat
We have got the world covered on Bloomberg Television on this epic day. Live in london as we see results from the u. K. Polls. Here in washington, were all talking about james comeys testimony. We will have plenty of reaction to that. Absolutely. This is bloombergs continuing coverage of the u. K. Election result. It is just after 7 a. M. Just after 7 p. M. In washington, d. C. Im Kathleen Hays. Is that shocking exit poll out of the u. K. We are focusing on, suggesting this election could go either way. Not what we were expecting when asia went to bed last that. The instant reaction was on 1. 9 at the fell start after we got those exit poll results. Some of thoseng declines but as we get the early both starting to come in, certainly it is going to be a very long day for everybody because it could go either way. Question is what kind of majority the conservatives and the labour party are going to have an prominent . That is biggest question now even ifresa may theresa may retains her se
Retail sales and import export prices. Also worth watching today, november Consumer Sentiment and business inventories. Andrew, over to you. Corporate news this morning, Oil Field Services provider baker hughes confirming its now in talks with rival halliburton. This after the wall street journal reported on negotiations between the two. A merger would create a want korth 67 billion or possibly more. This years drop in Energy Prices has hurt and sent stock prices in the nasdaq much lower. Industry watchers note a deal would likely face antitrust concerns. Well talk to an analyst who covers the company in the next hour. Theres a real bet that oil price res going lower and that they need to consolidate to compete with schlumberger and the rest of them. Stock deal. They exchange cheaper stock for cheaper stock . Cheaper stock for cheaper stock. I imagine there would be a lot of layoffs because part of the whole idea is you would be trying to get your costs down. Speaking of energy, the ie