Market makers. Happy halloween, im Erik Schatzker. Straight to get business. I can talk about the childrens holiday. Top business stories of the morning. U. S. Stock in record territory today. It is crazy. The dow and s p have been above their alltime closing highs. Investors getting a boost from japan central bank. The bank of japan unexpectedly increase the amount of money it is pumping into the system. That sent stocks jumping in japan and europe for the really moved over to the u. S. Isnwhile, the japanese yen getting hammered, falling to its lowest level in on the seven years. Earlier here, we heard from legend or hedge fund titan. I think it is a deliberate effort of the japanese to keep in their currency. Look, the governments all over the world are trying to cheapen their currency and cheapen bonds. Im in, we have a bubble now developing because we have forced bonds to almost no yield. Cheapen their currency. We will hear more from chilean oil, the julian price of crude tumbles
The job creations . Chair, yellen, i dont think your microphone is on. Can you see if its on, and if it is, please pull it closer to you. I apologize. I think certainly regulation has an impact on the economy, on Economic Growth. And there are many economic studies that have tried to document what it is. I think in the case of the Affordable Care act, cbo has done important analysis and probably will continue to look at it, i think theyve recognized that the impact of the act is likely to be come flex. I think theyre still attempting to figure out what all of the different channels are by which it will affect the economy, and, you know, well look at that and try to look at their assessments Going Forward. You know, we had to pass it to find out what was in it. And so now thats all coming together. Has the fed done any estimates on how many jobs the implementation of the doddfrank and the effect of the obama administrations regulatory policies are expected to cause the economy, or is it
Income, so thats very positive. And the shell ceo admits to a disappointing Second Quarter. Investors agree they sent shares lower in london. You have a complex kind of result because we had impairments, we had effects like big Foreign Exchange movements and also we have a situation in nigeria which is giving us some concern. Japans top Consumer Electronics companies on the road to recovery. Sony and sharp both deliver better than expected earnings. Analysts arent sure if thats enough. Warm welcome to the program. We kick off with eurozone manufacturing pmi growing for first time in two years in july. Factory outputs surging. Markets using pmi up to 53. 3 in july. From junes 48. 8. Revised slightly higher from the preliminary reading of 50. 1. And over that 50 threshold for the First Time Since july 2011. Follows a string of fairly good or more promising Economic Data out of the eurozone. Unemployment also falling slightly. Did revise actually the june number. Still near the record hig
Down about 48 points, 15,470. The industrial average settles out, look at the volume number on the light side. 540 million shares traded. The nasdaq gave up 11. 75, 3,654. And the s p 500 tonight down 6. 50 at 1,690. By the way, all of the major averages finishing off the lows of the day. Even though were down in the double digits, we had buyers throughout the session today. It was nonetheless, though, a downer for the broad market. Bob pisani, put things in perspective for us today on the heels of what has been a record setter for this market. Reporter the big story is the constant commentary from the fed officials here. Lets take a look at that, because that will determine what happens in the next couple of months. The bottom line is the fed hawks and fed doves seem to be aligning, and the concept is tapering is imminent. If not in september, certainly by december. Unless the data completely falls apart. The head of the cleveland head came out today, not a voting member, but she said
Made in the next few months. And the eus Foreign Policy chief travels to cairo for crisis talks as they crack down on supporters of Mohamed Morsi leaves more than 70 dead. Youre watching Worldwide Exchange, bringing you Business News from around the globe. A very good morning to you. France has announced a 35 billion merger of equals to create the worlds biggest advertising agency. It will trade in both new york and london. Morris levy and omnicom share the role of ceo for the next 30 months after which the publicis will be chairman. Speaking after a press conference in paris, he told cnbc the deal would benefit everyone. There is no one weak partner, and there is no one who has Financial Difficulties or anything of the like. So we believe that this will be a great operation for all our people, our clients and our shareholders. Publicis shares are closed. They wont open until 2 30 london time. Shares have been trading higher on news the two confirms could attract clients from the two m