10year yield is below production broad base slow down in demand chewy debuts at the nyc and biden verses amazon. A lot for investors to digest today. Retail sales is the latest thing. I these are the people who ae focused on the feds. There is to reason to cut now because retail is not that bad may was okay not great, not bad what matters is this book. And it is significant because hock t hock tan missed by 2 billion revenues thats the president a billion of just the overall slow down. Now we are starting to get it. Now we are starting to see why the fed has to be worried. 22 billion in sales and it is being heard. That means everybody is being heard. If you miss what hock tan said last night, you got to listen to this piece in the Conference Call. It is clear that the u. S. china trade conflict including ahuawei is creating economic and uncertainty as a result, volatility have increase and our customers practically reducing inventory levels to manage risk. Maybe this gets the white ho
You can see behind me, 35 to 36 is the indication. The Market Makers here are yelling out a number of prices and levels and number of shares. What theyre doing right now is trying to get down to a price that can clear the most number of shares out of here. Were getting close to that number right now at 35 1 2, which is the midpoint of this indicated range as of this time, youre still talking about an approximate market value range of just around 14 to 14. 5 billion. So very much higher than the 15 to 17 and the 17 to 19, the 19 to 21, and the 22 open. And then the 26 to 29 indication that we first got when this came to the floor. So as things stand right now, theyre yelling out a bit more well bring you more details but 35 1 2 is the midpoint of the current range. We could see this stock opening up sometime in the next few moments depending on how quickly they can get those orders together to find the one price that clears the most number of shares for the opening trade back to you guy
Initially come investors were not so sure. Julie we were looking for direction and the jobs report did not provide it initially. Where it took a long time for investors to figure out what to make of the jobs report or there is Something Else going on driving stocks up. All three averages at their highest of the session. A commodity driven rally here. Energy and materials are the two bestperforming groups here on the imap. It is a broadbased rally, but those are the two standout groups in todays session. Oil and gas prices are both higher today as well. Crude oil up 3. 6 . Natural gas finally seeing a bit of a rebound to that 17 year low. One of the can to beating factors, likely is the jobs report and the idea that there would be more demand. We also got the baker hughes weekly rig count, falling for the 11th straight week. We will be seeing talks on a production freeze. It is a tail wagging the dog situation here in terms of stocks and commodities in the jobs report. There is the one
Bloomberg television. Welcome back. I was on assignment for the week. Week but i didly not have a lonely week because so many people stepped in. Bill cohen was here. Was going to say you just made a fat joke. I was going to say i did miss you and i had an exciting week. I missed you too. But because i had help i wasnt lonely. It is great to be back. Today. A lot to cover lets start with the Global Business stories of the morning. Firmup led by the british bc partners has agreed to officially by petsmart. The deal is valued at a whopping 8. 3 billion. Out apollo beat global management. Petsmart has been hurt by competition from amazon and other retailers. Still boomingis in the u. S. Economy. Industrial production rose by the most since may of 2010. Reduction of consumer goods did even better, rising by the most in over 16 years. And a dubious record for the ruble. The russian currency was trading more than 60 to the dollar. This month it has fallen 18 against the u. S. Dollar. The cent
It was a dramatic ended to a hostage situation in sydney, australia. Australian Police Confirmed that three are dead and 4 injured after the 16hour siege in downtown sydney. The victims included 2 hostages, 38yearold man in a 38yearold woman. And the gun man, a 50yearold man. In a News Conference that 17 hostages total had been accounted for. We found out that a Police Officer suffered a nonlifethreatening loan to the face wounded to the face that we dont have information on his injury at this point. How did the situation unfold . The crisis came to an end after heavily armed police lint chocolate cafe good gunfire rang out for about 30 seconds after several hostages escaped with their hands up. Not seenn who was leaving the building, the suspected gunman, identified as s. N haron moni he is a selfprofessed muslim cleric with a long criminal record. He was connected to the murder of his wife and charged with more than 50 counts of sexual assault. Prior to the hostage situation, monis w