The market dealing with a fed induced whiplash today we are well off the session highs but in the green for the s p 500 swelz the nasdaq, the dow. The nasdaq though in negative territory down by. 2 check out the etf that tracks the Home Builders down today, but it is up 5 in just the past week well tell you which names are driving that move. Well the hawks are out in jackson hole, wyoming. Fed officials not saying what the market wants to hear today Steve Liesman is there talking to all the xwbig names. It was really harp rer that sort of sparked that turn around in the market he wants to stay neutral. More on that in a second, but i want to show you the gyrations in the outlook for the Federal Reserve through the fed funds futures market still a 99 of a rate cut. 66 for october december cut seems to be on the b table. Whether or not the 75day point for the rest of the year or just 50 another Interesting Development in september, a 1. 3 chance that the fed remains on hold. It was a 40
Ahead of the curve on some of these issues. Peter who funds itif . Daniel we have a full set of funders from corporate donors, individuals that support our think tank. We work on a lot of different issues, so we get support from those interested, everything from i. T. Issues to biotech and energy. Peter so for our purposes here, is it fair to say that large Silicon Valley corporations are part of your funding operation . The googles and facebooks of the world . Daniel absolutely. I think these companies were all early supporters because they were interested in the idea of how do we proceed quickly and innovation. Peter you are the director of itifs center for data innovation, which is what . Daniel we have a Research Center focused on these issues around data. I think for a long time, policymakers realize they had a few different levers of government. They could tax things. They could spend money. They could regulate things. Part of it was to say you can think about how you collect and
Would need to have in place to get there. We try to help policymakers get ahead of the curve. Host who funds itif . Guest we have whole set of funders from corporate donors, foundations and individuals support a think tank. We work on a lot of different issues so we get support from those that are interested, everything from ip issues to biotech. Host for our purposes on the communicators is it fair to say large Silicon Valley companies are part of your funding operation, google, apple, facebook of the world . Guest absolutely. These companies were early supporters because theyre interested in this idea of how do we proceed quickly with innovation. Host you also run, you are the director of itif center for data innovation, which is what . Guest we have Research Center focused on issues around data. For a long time policymakers realize they had a few different levers and government. They could tax things. They could spend money. They could regulate things. Part was to say you could say
Issues so we get support from those that are interested, everything from ip issues to biotech. Host for our purposes on the communicators is it fair to say large Silicon Valley companies are part of your funding operation, google, apple, facebook of the world . Guest absolutely. These companies were early supporters because theyre interested in this idea of how do we proceed quickly with innovation. Host you also run, you are the director of itif center for data innovation, which is what . Guest we have Research Center focused on issues around data. For a long time policymakers realize they had a few different levers and government. They could tax things. They could spend money. They could regulate things. Part was to say you could say how do you think about you collect and use data with the government. He should have smart policy to drive different parts of goals you might have. If you want to see goals for cancer, cures for cancer, Strategic Policy around data. Host do you find that
96. Continuing the dollar index below 96. Continuing weakness for the u. S. Dollar yield. The 10 year major you deals major deal to tell you about today. Allergan putting up a nice performance because abbvie is offering a 45 premium to buy the company. We will be talking about it in just a few moments. Abbvie shareholders selling that stock, off just a little bit. We will look at the ramifications in just a moment. Guy as you say, stocks down, havens up. Yield into record territory. Keep an eye on what is happening with the swiss franc. Keep an eye on gold. Has that run its course . Vonnie lets get to that big pharma deal this morning. Abbvie agreeing to buy botox maker allergan for cash and 63 billion, a 45 premium to allergans Closing Price yesterday. Cover aren our correspondent for Health Care Coverage here at bloomberg. Is that a little bit of an overreaction . Reporter you are seeing abbvie shareholders lose some of the stock here. I think they are going to spend a lot of money a