Dragged down by the more powerful bond market taking 357 points, s p falling. 82 nasdaq advanced a basis point, stunning comback but lets not get too carried away, still the worst woke for the averages since the financial crisis the bond market is bigger than the stock market we dont talk about it because its boring. But its important to the direction of your portfolio. Everythings wrapped up in bond yields always has been. I learned that 40 years ago. There are multibillion dollar programs that sell stocks whenever those yields go down. Its form got as lows a 1. 1 today, closing at 1. 16 thats a record low level, signaling the economy is growing weaker, and quality investors hide money in fixed income, coronavirus supply chain the bond market is screams that the coronavirus is far worse than most people realize Global Commerce will take a real hit and it might even be something similar to 2008 when all hell broke loose i cant tell you whether the bond market is right im not an epidemi
From daly and kashkari. Plus, exxonmobil agrees to buy pioneer. Its about a 60 billion all stock deal. We will, of course, give you the latest. Its another big test for the ipo market this morning. Shoe brand birkenstock making its public debut thats how they pronounce it right here at the nyse. Ceo is going to join us here at post nine in the next hour. Lets start with that massive deal in the energy sector. Exxonmobil agrees to buy pioneer. The price tag, 253 a share. Its all exxon stock, so in this case, when exxon moves down, the overall value of the deal is impacted. Therefore, it is no longer 253 but not that far off from that price. They are talking about significant synergies, as much as 2 billion total annual average value over the next decade. 2. 3234 exxonmobil shares, its an 18 premium. Little background that i got, jim, and obviously want to get your take. You know this company, pioneer, so well. My understanding is having spoken to people familiar with the old situation,
Inside quicken loans arena where tonight could there be even more controversy . Weve just gotten this, rnc officials confirming to fox news they are looking but still have no idea whats going to happen tonight from the never trump camp. What are senator ted cruzs intentions or his loyalists going to do . The traditional roll call of states set to unfold this evening with speeches focusing on jobs and the economy. The theme today, making america work today. Lou dobbs has a front row seat to history there in cleeland. We will ask him about the buzz around the melania speechgate yes, its a gate already and the muchawaited speech by House Speaker paul ryan tonight. By the way, wait until you hear what ryan told a wall street luncheon about donald trump. Plus, the former mayor of cleveland, Dennis Kucinich on how the trump coronation must recover from somewhat of a rocky start. On wall street a pitched battle right now between the bulls and the bears as Earnings Results dominate the session
Cat. Its gone from being an animal thats adorable mans best friend to an animal that does whatever the heck it wants. Not just a house cat. Sometimes the darn thing is a tiger with a thorn in its paw. Like today when the dow punched 187 points s p tumbled 8. 5 and at one point the market was town almost twice that. I say you have to get used to this genius change here because its profound. You can train dogs. For the today show, matt by the way, im voting for wrangler. You cant herd cats. You can punish dogs and they will obey. Cats, as i have learned from happy, hire, iverson, dinah, buddy, bessey flow and don julio a little variation in the name never hurts cats could care less. Yes, i did have all those cats. In the end, you can make your peace with both and im urning you to do so tonight, even if you might get scratched or bitten in the process. First, what happened . Where did the dogs go . Who let them out . Okay. I think we got a little complacent at the end of 2014 but we got u
A couple people asked me what was going to happen, said, hey, cramer, booyah, is this thing for real now . I mean, are we really in trouble . I knew right then wed have a nasty selloff and we did, dow sinking 137 points, s p giving up. 90 . Nasdaq plunging. I knew it because the politicians have finally been able to create enough concern in enough people that its being chatted about in the street. Now it is ironic and tragic and sad that washington was also the scene of a real life and death drama today. Im talking about the artificial one created by the politicians. Both sides have started accomplishing what i perceive as their actual goal, which is to embarrass each other, stigmatize each other, make us feel the other side has a reason to worry about being reelected. Our savings are also affected by the debate in washington. One side, the other side or both are able to paralyze us with enough fear and truly hurt us with the collateral damage. Well, we havent really cared about it. Bu