Sows. The dow is indicated to open lower by 187 points. S p futures down by 24 and nasdaq down by 61. Chinese president has arrived in the United States. Hes going to begin in seattle to meet Business Leaders including tim cook, bill gates and bob iger. And then to washington with an official state visit. He is defending the leadership of the chinese economy. He promises that slowing growth and market swings wont stop needed reforms. Meanwhile, he is calling on china to keep its economic commitments. He says beijing should set its sights on policies that will further its reform agenda such as targeted agenda and they should be subject to upward pressure that would drive the currency up and not just down. Well see what he says out in seattle to the ceos and what theyre looking for and then of course what the president says to him when he arrives in washington. Theyre not, the pope and the chinese guy everybody hanging since theyre in the same place. A little cocktail party. Pope does lo
Rbs is spinning off its american unit, citizens financial first trade this morning. And in retail, bed, bath beyond sharing purchases. That stock surging in the premarket. And say hello to walmart checking. The big boxs largest foray into banking is here. But first, want to get to david with breaking news this morning. Thanks, carl. Were delving into the soap opera that is allergan. This morning we can tell you that salex pharmaceuticals, a company i previously reported on and told you allergan is in talks to acquire, has another potential suitor now in the name of actavis. In recent days, theyve reached out to salix, indicating its interest in acquiring the company. I want to stress these are early stage discussions between the two companies. They have not gotten far down the road there in contrast to it the Allergan Salix discussions, which have been going on for weeks. According to people who know whats going on, they tell me its slowed in recent days and sort of hit something of a
It didnt matter. And the market went down anyway. Dow sinking 196 points, s p falling 1. 35 and the nasdaq declining. 93 . How can that be . Hey, isnt this a market of individual stocks. No, not right now. Nope. You see, we have some Disturbing Trends in the overall market that trump the achievements of Single Companies and even whole sectors. And right now, no trend freaks out investors more than the total collapse of oil prices. When the highspeed traders who dominate the stock market see Energy Declines like today with oil down more than a buck and a half to 44, a level we havent seen since the great recession, they dont just sit there and pick among the stocks the benefit from cheaper oil while dumping the oils themselves that wouldnt be a rational move. No, they sell the only thing they seem to know how to sell. The whole s p 500. They cant waste time picking and choosing among individual stocks. They know that when oil goes down they need to blast out of everything. Because thats
Shenzhen composite is up more than 100 just this year a doubling. Take a look at that. Is this the place to be for growth or is china becoming a dangerous bubble ready to pop . Well talk to a couple of guests about that. Is this the chinese 1990s right now theyre going through . Plus the return of the cable king himself, john malone behind the 55 57 79 billion charter Time Warner Cable deal could this move drive more companies to merge in that industry . Well be talking about that in a little while. Its amazing. Hes back. He was very patient. He laid back. They made that initial offer for Time Warner Cable a couple years ago and comcast outbid them but now he got it after all. One of the countrys most interesting capitalists. Well have much more on that story coming up. Incredible negotiator. Lets start with where the markets are right now as indicated. The dow is off 240 points today. That puts it back below 18,000. Its also below the 50day moving average which everybody on the floor
There’s an old LO joke, telling their client, “When you’re buying a house, be sure to do it with a significant other, and make sure that one of you has good credit. That’s why it’s called ‘significant’ other: sign-if-i-can’t.” Everyone in our biz knows that owning property is a great way to build wealth, although between elevated inflation, stubborn mortgage rates, and general economic uncertainty (one can argue that the future is always uncertain, right?), it may not feel like the right time to plunge into the housing market. But every LO should know that if past patterns hold true, inflation can actually boost homeownership and people who are living through this time may be more inclined to buy a house in the future! A fine selling point when an originator is speaking with a potential client. (Found here, this week’s podcast is sponsored by Truv. Truv lets applicants verify income, employment, assets, insurance, an