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What billionaire activist investor bill ackmans next move is after the ceo of one of his Largest Holdings now faces a Senate Subpoena over price hikes on three of its drugs including female viagra . Charlie gasparino has the details you wont find anywhere else. And a golden girl no more. Is this the death knell for Ceo Marissa Mayer . Were less than an hour to the closing bell, lets start the countdown. Liz here we go. Youre in the right place with less than an hour left in todays trading session. The markets are moving higher. Its interesting, because first we were paring a whole bunch of gains, now were getting them back. The nasdaq adding on about a third of a prosecutor to the gains right now third of a percent to the gain right now. Even the russell 2000, small and mid caps, moving higher by a quarter of a per ....
First, lets check in with mandy at the new york Stock Exchange. Hi there, tyler. Hello, everybody. We have a selloff here on the street. The dow is back in correction territory although we are off the very worst levels of the day. The dow is down by about 284 points. Now its down by 235. S p down by 24 and the nasdaq off by 48. I have bob pisani on the floor of the Stock Exchange to explain what is going on. I guess maybe for one day weve got a reprieve where we can stop obsessing what the fed is going to do and we can obsess what the fed said and what it means for things like earnings and revenue. For the moment i think what the fed was saying yesterday is still impacting the stock market. Lets look at the s p 500, were just off the lows for the day. 2 to 1 declining to advancing stocks. Volume is heavy because its a quadruple witching. Let me try to answer mandys question. ....
Agony of those who make raw products wins out causing the dow to plunge 268 points. Nasdaq nosedive 1. 73 , worst day in ages. Its a good news, bad news game. Today the negatives won out. First, though, because im kind of optimism fella. Some are obvious. When we pump our gas, most of us are in disbelief how cheap it is. I cant tell you how many times i put out 60, 50 will do. I get a good spot when that comes back to me, but there are big losers on the other side, too. We dont see them. From the longest losers are countries considered hostile to our interest or produce terrorists that charged our world in horrible and heinous ways, members of opec. These days gasoline may come from oil produced in the united states, refined in the united states. This time the losers, some are closer to home and borrowed a ton of money to keep drilling, money that cant be paid back if prices stay as low as they are. 61 a barrel, it will go lower, because there is no discipline to production. There is g ....
Qs which track are in negative territory. The big weight, one of the big weights is netflix. Down 25 in the past month. Its one of those stocks that move on no news, they move because they move. Today investors are paying a price. Sheila dharmarajan is at the nasdaq and is down the composite is down 3. 2 . Sheila . Ugly day here at the nasdaq. The composite and the 100 down by more than 2 . We just bounced off the session lows but keep in mind we are on track for one of the worst days we have seen at the nasdaq in two months. Heres whats amazing. This is a really broadbased selloff, not just biotechs or momentum names. It is weakness across the board here. If you take a look at the nasdaq 100, more than 90 of its members are in the red right now. So everyone is pushing the sell button on seemingly everything. Some particular pockets of weakness, though, got to talk about the biotech names. This is one of the groups that led the nasdaq up. Now today, the nasdaq biotech index is down by ....
Eastern time. What is going to happen . We tried to do that last time to make people guessing. I guess every time. Not really. Its Business News. And we do our best to try and get something going around it. But the one thing that makes this a little more interesting is some of the whisper numbers. Did you see how high they get . How high are they . The whisper numbers are as high as 300. 300. Do you think people can hear us . Yeah. Why are we whispering . Yeah, 300. Meanwhile, dallas fed president Richard Fisher came from around the world saying the Central Bank Must avoice being locked into calendar based policy commitments. In other words, theyre data dependent. He says Forward Guidance should be flexible enough to allow for changing conditions. He is currentl ....