We were down as much as nearly 100. The nasdaq is down paired with the nasdaq, on track for its worth worst decline since november of 2008. Imf function, the health of the s p 10 sectors. It is the same narrative for the entire day. Energy stocks are continuing to be the biggest laggard, down 2. 8 by sector. Materials are down with dow being the biggest laggard here. Financials led by jpmorgan, wells fargo, by about 1. 4 . The big laggard is crude. It continues to fall just barely. Ff of lows right now day, this isof the after saudi arabia said they were going to be able to pull back on expenditures and keep going. To not care what other people are saying. Of notable stocks. Amazon in particular. Interestingly, in revenue should beat expectations. It is saying it is being driven by the ecommerce trend and strong amazon prime adoption, which gives you a more free delivery service. It is keeping the price target at 750 and maintaining a vibrating there. Down off of its session highs here
It is cubist pharmaceuticals. Merck buying the company. Meg terrell was ahead of the story on friday telling us a deal was in the works. She is in San Francisco at one of the biggest cancer meetings of the year and scored a live interview with mercks ceo. Thank you so much. Lets bring in ken frazier, the ceo of merck. Thank you for joining us. Thank you, meg, for having me. Always good to be on cnbc. Well, so this is a big deal in a space that has been a tough area, antibiotics and a Huge Public Health need. Tell us why this makes sense for merck. Every year in this country about 2 Million People have a form of infection that is resistant to conventional antibiotics. About 23,000 of those people die. So these kinds of infections are critically important in our society. So this is a great opportunity for us because merck has been committed to the field of antibiotic research for 70 years. And cubist has also been a leader in this area bringing forward novel antibiotics that can be usefu
The National Retail federation reporting on average, shoppers spent 6 less this thanks giving weekend thn they did a year earlier. Friday, it looked like it was going to be better. 11 lower in total. Online sales were all sort of on to them at this point. Today dubbed cyber monday, the traditionally Biggest Online shopping day. The consumer will spend 2. 5 billion online in one day. Well check in with Courtney Reagan in 20 minutes along with our industry analyst. And we have congress returning from the holiday recess today. Legislators have less than two weeks to figure out how to keep the government running. Funding set to expire on december 11th. Fight over spending bills comes as the party is also debating immigration. So lots going on over this holiday. Really wasnt a holiday weekend. People did work on friday. We missed you, joe. Good. Yes, thank you. Nice to be missed. Were going to talk oil in just a second. Another Washington News today, the Supreme Court is going to hear argum
President rob kapito. Which is a better bet, stocks or fixed income . Bonds and stocks, we have two people who will make the case for fixed income. Well have a top pick. 5 trillion, folks, thats a trillion dollars every 12 minutes. 100 million about every minute. Dont miss even a second of this show tonight. Sue, down to you. Sue is not there. Ill pick it up here. Big market selloff following yesterdays huge rally but one of the bright spots today as hand apple. It is up on the icahn letter, carl icahn explained his move just minutes ago to our scott wapner, right here on our network. Listen in. Every time they sell a phone, scott, they have another annuity. They have another flow that they guarantee. People dont get rid of these phones. I think this is not realized and as a result we are writing this letter. Lets hear from an apple shareholder, michael farr from washington. Welcome. Youre actually here with us today. What do you think of apple . What do you think of icahns exhortation
And margin calls are triggered over secession plans in the country. And japans Prime Minister hailed this weekends vote as an indication for economics. And paris taxi drivers stage a citywide protest against uber. Youre watching worldwide exchange, bringing you Business News from around the globe. Lets get straight to our top story this morning. The ongoing hostage situation unfolding in sydney. These pictures recorded earlier show armed officers outside a cafe in the Business District. A lone gunman is holding an undisclosed number of people but local media says about a dozen hostages are held captive. Within the last few hours, the number of people seen running out of the building. Earlier the hostages were also seen holding a flag against the shop window. Tony abbott said the governments allegations are known but well see if this is politically driven. This is a very disturbing incident. And i can understand the concerns and anxieties of the australian people at a time like this. Ou