Buyer beware, ipos that have doubled do not have a great track record after the debut. Plus the president and tiktok, he says hes not prepared to sign off on anything for an oracle tiktok deal. And wall street poised for a sharply lower open following the feds pledge to keep Interest Rates low for years and Technology Stocks do lead the declines speaking of which, jim, sounds like your conversation with joe a moment ago kind of rings with what Credit Suisse says today about tech valuations overall, that is that there is some excess and theyre lightning their weight at least on software. I count 30 companies that are selling at 30 times sales and then theres a number, even more, maybe another ten that are selling above that, 50 times sales for zoom along comes snowflake at 100 times sales. You just have to put the stop sign up because what it says is theres going to be so much supply that is coming. Look, if you own a company youve been waiting for it to come public you just got the gre
Pakistan accuses india of turning cashmere into the largest prison on the planet. In north carolina, republicans are hoping an 11th hour pep talk from President Trump will propel them to a special election victory today. The president urged an arena packed with supporters to vote for conservative state senator dan bishop, who is in a tossup battle for a vacant house seat, facing dan macready, a former marine. Both sides say the contest is too close to call. Global news, 24 hours per day on air and on tictoc on twitter, powered by 2700 journalists and over 120 countries. Im Mark Crumpton, this is bloomberg. Its 1 p. M. In new york, 6 p. M. In london, im vonnie quinn and welcome to bloomberg markets. Vonnie from bloomberg World Headquarters in new york, the top stories on the bloomberg and from around the world, we are following Charles Koppelman, President Trump sacking his national because he disagreed strongly with many of his positions. The deputy advisor has been named the acting in
Minute look at quick u. S. Equity futures at this hour show you how things look to be opening up in about 3 1 2 hours from now dow would be off about 20 points nasdaq looking to open up 15 points s p 500 looking to open off a little off well call it 3 1 2 points right now and also show you whats happening overnight in asia right now as we speak. Youre looking at red arrows across the board but well call it marginal except for the hang sang take a quick look at european equities as well as we flip that board around youre looking at mostly red picture, except the ftse 100 looking up 1 right now and finally treasury yields, tenyear notes unless youre looking for a 30year fixed right now the tenyear note is at 2. 060 joe . Big deal of the morning. Big. Big. Mylan, potential pharma deal to tell you about. Unit of pfizer with mylan. Thats right. Were expecting this news to be announced sometime this morning. What were hearing is that pfizer plans to spin off a unit called up john, off patent
Agenda targeting what they call corporate monopolies and apple and the rock, what that Partnership Means for the future of content well start with earnings. The heaviest week of earnings season begins this week. 13 dow components. 180 companies are set to report. You can see the list right there beginning with google but all week long, mcdonalds, caterpillar, three of the fang names are this week alone. This is a week where it is one of those where i urge people to understand, its going to happen so fast you cant keep track of them. There are some, tomorrow morning, caterpillar, mcdonalds, wednesday night facebook is going to be gigantic because people have been buying that stock endlessly were coming into a week where the large cap stocks have almost all been up. Talking about united health. They were terrific if you get the same thing youll break out here you will break out only wednesday when the fed announces its bond disposal it stands in the way of what i think could be pretty fo
South americas wealthiest nation is now taking in immigrants at a similar pace to the u. K. Relative to their populations. Is allowing all priests to absolve the faithful of what they call the grave sin of abortion. He is extending indefinitely be special permission he granted during the just ended only year of nursing. Officials describe the announcement as an extension of the churchs mercy. Global news 24 hours a day powered by more than 2600 journalists and analysts in more than 120 countries. This is bloomberg and bloom berg. Where 30 minutes from the close of trading here in the u. S. Today,ocks on the rise while oil jumped on optimism that opec will reach top output. President elect donald trump is on the hunt for the next treasury secretary and his meeting suggests hes looking for a candidate with the wall street experience. We will take a closer look at the top contenders. All eyes on europe where the rising populist will italy or france the next shoe to drop . Top of mind as t