Very good morning, everybody. Warm welcome to daybreak europe. Lets check out the markets. Picking up where we left off. The mse i asiapacific eating out further gains. We touched alltime highs in the United States in fridays session. We did have some action to talk about. , a yen is steadier now little bit weaker against the u. S. Dollar. We have seen a move higher in the japanese currency. Had the bank of japans governor corona guided the market higher, when he was at demos, apparently not. He was not changing his stance, changing his forecast. Busy one. It will be a we have a dollar a little bit stronger, which makes a change after seven weeks of losses. It will be a busy week. Yellen is in her last week of the fed. Lots of data including jobs data and a state of the Union Address i President Trump. The metal price for you, this is zinc. We could have shown you others, the zinc is up 2. 3 . Because of the weeks dollar affect, lme inventories coming down and thats something that is f
Up by donald trump. When you allow that on the National Stage you look weak. I wish politics wasnt about that, but it is. Donald trump, four hours of bloomberg surveillance. Coverage begins at 2 00 p. M. In washington. Mike mckee will be in washington this afternoon. Now our top headlines. Out if few hours we find the fed will raise Interest Rates for the first time in nine years. Policymakers will come out with a statement at 2 00 p. M. Eastern janet is hosting a News Conference later. The president ial candidates squared off last night for a most three hours. They were at the president ial library in suburban los angeles. Donald trump emphasized his experience in business. Mr. Trump i was a businessman who did well. Want to do is but that ability into our country to make our country rich again. I can do that, and im not sure if anyone else in the group could. Commented onina his comments in Rolling Stone magazine. He says he was not insulting her appearance, it fiorina did not buy it
The Chicago Fed National activity. Executive home sales. There are a couple of oddball earnings. Im going to get a note from a pr guy. Autozone. Dont call my company and on ball. Ok, it is not an oddball. It is just out of the normal flow. Global initiative is today. Treasury secretary lou will be willg a keynote lew beginning a keynote address. Ecb president mario draghi is addressing the european parliament. Lets do a did a check. Equities, bonds, currencies, commodities. Yields come in. Euro does nothing. Nymex crude. Hydrocarbons are down. Gold, it is now on the 1200 watch. Lets look at goldbach a zillion years. This is inflationadjusted. Gold, back a zillion years. This is inflationadjusted. We really rolled over. We are at critical support at 1200 per ounce. Harkin lly hearkener of disinflation. Buying sigma, a Chemical Company of its own for 17 billion. This works out to 140 per share in cash. Friday thatoned on there was a possibility that they were looking to that was the othe
Billion. Merck announced it is snapping up Sigma Aldrich and a 17 billion deal. 7. 6 billion dollar acquisition. Hans mercks deal helps it move away from developing pharmaceuticals why is that important . This is a Company Switching midstream. I havent had a new drug approved since 2003, and merck is moving away from being a pharmaceutical company. Of theirl get 60 revenues from the pharmaceutical side but theyre moving more toward chemicals and plastic. That is what they get with sigmaaldrich. They make many of the chemicals that go into testing and drugs, they get a big footprint in the u. S. As well. The stock sits at a hundred 40 per share and it closed on friday at 100. That seems like a 40 rhenium. Premium. In to thes this fit overall strategy . Becomings is clearly an industrial giant and wants to be an oilproducing servicing company. They have been eyeing dresser errand for some time. I know you have reported extensively on it, it is a veritable revolution. You have a German Co