Day but the news continues and we are on it. We begin with a potential megadeal in the Financial Sector the wall street journal says capital one is buying discover financial this would merge two of the largest kind of Car Companies in the country and could be announced as soon tomorrow. The takeover is expected to value discover at a premium to the 28 billiondollar market value, here are the takers to watch dfs for discover nco after capital one which is the ninth largest bank in a major credit card. Will watch this the level on the s p 500 Goldman Sachs again lifting the yearend target 25200 and back on friday, the s p closed at 5005 so goldman sees a 4 rise from where we are right now. Its as big tech will have to continue to do the heavy lifting but we asked could and should the magnificent seven continue to have an outside impact on the broader markets. Deutsche bank noting the combined market cap it of the seven companies would be equal to the Stock Exchange in the entire world, t
in this case, it is quite jam packed. we re covering what s gown on in saudi arabia, all of that and vladimir putin going to that neck of woods, iran next week. let s talk about what happened this week with the president s trip, wrapped up now in the royal kingdom. peter doocy in jeddah, saudi arabia, with more. peter. reporter: neil, the president is aboard air force one. we expect him to take off for joint base andrews in maryland any minute. he came to the middle east looking for gulf leaders to boost oil production capacity because he thinks that might help lower gas prices back at home. but he just got some bad news from the saki crown prince saudi crown prince who basically said they can t really increase their oil production capacity much more. finish translator: the kingdom will play its role in this era to increase the level of maximum sustainable production capacity to more than 13 million barrels. beyond that, the king.com will not have any kingdom will n
Stocks right now are moving mixed, the dow and s p lower, the dow down 87 points, but the nasdaq is up 27 s. And what do we have . We have this month which has a very bad reputation. For the last 77 years, the s p has averaged a threequarters of a percent loss during september. Now, historically it is known as the worst month for the index. And if you go back to 1928, that loss worsens to an average fall of 1. 1 . Yes, the stats back with up that bad reputation, but its not necessarily predictive, folks. And if the last two weeks are any indication like you see on your screen, that big run iup we saw runup we saw could mean the bulls are emboldened this time around. When we keep an eye on this holidayshortened trading week, air travelers are keeping an eye on the flight monitors. We have this breaking news, United Airline shares are moving lower by 2. 5 at this hour after a temporary but pretty serious or nationwide ground stop. Weve got matt finn joining us now from los angeles with t
Exodus out of stocks. Note the nasdaq in particular, it is getting clocked right now, down 256 points or about 2 . Look at the vix, or volatility index, it is the vaulting much higher right now by 14. 33 . Just off the highs of the session here, it stands at 20. 14. We need to flag you that the dow has turned negative for the year. Now work with me here, a loss of 286 points or more at the close will do it. Right now we are well beyond that. We are losing about 457 points on the Dow Jones Industrials, falling below 33,000 right now. We stand at 32,972. The bears drawing blood from the broader market. The s p point loss stands at 63. Investors diving for cover as the vote this just the last 19 minutes to table florida congressman matt gaetzs motion to remove the speaker of the house failed 208218. 11 gop members voted with all democrats in voting no on this motion the table it or move it aside. Right now, many just a few minutes in just a few minutes, we are going to get all the details
Now investors, well, they like all of this, apparently, new records for stocks across the board yesterday and those high levels will be held this morning. No retreat maybe a marginal gain again. The improving vote count for tax cuts does go down well on wall street. Theres another huge black eye for uber, they were hacked. Information on 57 million customers got out, uber delayed a year before telling the world and they spent a 100,000 bucks to keep it quiet for so long, thats not good. As you can tell, we cover it all, Varney Company is about to begin. Dote, wait up. You have to stay with me, boy. You dont know where we are. Stuart well that is the latest, it is a blockbuster from pixar, its called coco and being released today, however, the chief creative officer at pixar studios john is taking a leave of absence amid Sexual Harassment allegations. Does this mean the next pixar movies will not have the creative impact . Ashley that could be the case. If its long term, the could have