Of life. Billionaire investor bill ackman. Former House Speaker paul ryan to billy been. We even saw his fairness himself. Michael jordan investing in draftkings. Draft kings own ceo, you cannot deny they are so popular right now. Joe that is very true. The big question is and we will be talking about this more is this Blank Check Companies, thats the kind of thing you think about market forth, speculative mania. Me ending my money over to someone else and saying do something great with it. Great new way of financing that is superior to the ipo. You cannot deny how much has grown. Spac volume up 174 this year. Is up 13 . Secondary is down 7 . From a relative growth and financing vehicle, spacs are where its out. Romaine you also have to talk about relative performance. You have to take a look at what some of the spacs have performed. It has been a mixed bag. You have had some that have outperformed the s p 500. You can see churchill capital, that is the comparison with the s p 500, the
Burn a good thing in when you are an airline good morning, good afternoon, good evening thank you for joining us here on Worldwide Exchange. Aside from those top stories, we are following a massive 7. 8 earthquake that hit off the coast of alaska. There was an original tsunami warning that has been called off. That is a very big earthquake. Well bring you more relevant headlines as we get them thinking about the folks of alaska a quick check and futures will see the bottom right the dow futures are off. This comes off modest gains from the dow yesterday. We finished well off session highs. The nasdaq came off mondays move again hitting an intraday alltime high. Outside of stocks, we continue to watch Oil Prices Tick up. Yesterday, officially at prelockdown highs crude is a couple dollars more than that, we can see where we were prior to march 11 when all the lockdown and virus stuff hit and negative 40 price will go down in history. Oil still down 32 back to pre lockdown levels. As som
Andrew ross sorkin with joe kernen becky is off again today a little in the red. The treasury yields and earnings that may have an impact on all of this. The 10year note, we are now below. 6 we are down to. 592 we can debate what that means for today. Discussing Market Recovery and earnings Kansas City Southern and United Airlines ceo and health and Human Services secretary you want to stay tuned to squauchl the nasdaq down pretty significantly. It was up two or three hundred. It was up and did you know and up and down. It was really crazy. You heard cramer talking about that it was truly crazy. Insanity. The didnt hold on to the big gains. I think it was down almost 300 when cooperating on that at the end of the day, well see. I heard it said, well, you gave him an out he could have been resting on his laurels by now saying i would at least nuance it so i could claim to have been right if we had extended here. Doesnt it feel extended here. If i were paulson. Fur trying to be right all
Winter white house, maralago. Documents were due to be released today in 1992, but 114 of nearly 500 files from the Prime Ministers Office that year are being held back. 12 of those relate to european policies. Global news 24 hours a day. This is bloomberg. Bloomberg World Headquarters in new york, i am julie hyman. Joe and i am joe weisenthal. Scarlet fu and julia chatterley are off today. But the question is whatd you miss . Trump suggestst that the post office should charge more to deliver amazon packages. And we have the chart that you cannot miss about next years big moves in the market. California has legalized marijuana january 1, but citizens in two of the biggest cities may have a bummer. When the senate gets back to work january 3, Democrat Doug Jones of alabama will be sworn in. Things will shift into full gear when the house returns on january 8. Both chambers will have to tackle another Government Shutdown deadline and President Trump will give the state of the Union Addre
Off the year. Continuing the trends we saw last year. Technology is leading. Andwith a strong 2017 eight emergence for the second straight day and a repeat of the action late last year with the tech outperformance of the dow. Other groups like Energy Outperform today. We have broken through a 100 and clement for the s p 500 increment for the s p 500, the fifth time we have gone through that level in the past year. 2400, 2500, 2600, hitting that in regular intervals as we see stocks hit record highs on a regular basis. Technology is doing well and not just the fang stocks but the established Legacy Tech Companies doing well. Outperformsed to according to analysts, secular members that should enable Share Performance throughout this year while oracle getting an upgrade over morgan stanley, the endless their said the low stock valuation represents a tactical opportunity for oldfashioned Earnings Growth to drive the shares higher. Rallying. Micron another story we watched about the implica