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Bouncing back from profit warnings saying it will cut spending and step up asset sales this year. Spains economic continues to pick up the pace. Good news in germany where the jobless numbers fall faster than expected. And hanging up on hand sets, google gets out of the business of making smartphones, selling its money, using the motorola unit to lenovo for nearly 3 billion. Announcer youre watching worldwide exchange, bringing you Business News from around the globe. A very good morning to you. We concluded the feds last meeting. Ben bernanke as expected was a 10 billion taper once again. And not a huge amount of deception from the fomc. Equities following asia and the u. S. Lower, the dow down 189 points. Down to lows we havent seen since november 7th. The s p down to december 9th lows. Its a huge number of individual stocks to look at. How does that translate into the indices . The ftse 100 was down some 28 points. Its down anot ....
But this rough weather is starting to have an impact on the Great American economy and Steve Liesman has some really great and interesting stats and facts for us. We are talking about the impact, everything from jobs to stocks as a result of the weather. Im Bill Griffith in for tyler. Great to be back on power lunch. Sue is ready to go with several big market stories. Its great to have you with me today. You mentioned the big nasdaq spike. The big caps and small caps are also making some very big moves today. You see the drop and the pop for the s p midcap index. A similar pattern for the small caps. Youll see that in the russell. You can see it right there, as a matter of fact. Down. 75 . Yeartodate the russell is down 6 . The midcaps down 5 . Perhaps we shouldnt be surprised given the gains we saw last year. Seema mody i ....
Later, the Consumer Confidence number is released for september. We were originally speccing Housing Starts at 8 30 eastern today. Permits will hit the tape, but the government is delaying the starts and completions again. They are still blaming the shutdown for this. The Commerce Department now plans to share that information on december 18th. We go from the economy to earnings. This mornings horts include hormel, tiffanys, and barns noble. Also, other market related news, takeover premiums are shrink to go historic lows. The wall street journal reports more than 9300 deals and so far this year the average premium has only by 19 of a target the week before. That compares to a historic average of 30 . Among those factor tos are booming economy, a worry Interes ....
Happen to you . The growing trend is on our radar today. Companies saying you supply the device, well support it. Entrepreneur of the year, according to inc magazine, a big contest and they are going to make the adjustment right here on power lunch in this hour. Youre going to want to hear about this young person and what hes doing to change a field that were all going to use over the next few years. First, though, to sue at the nyse. Cant wait, ty. Good to see you. The weather is turning pretty rough outside of the nyse at this hour. If the dow closes above 16,072 it will be another record close and looks like were heading in that direction. In 12 months the dow is up 24 . Right now its up 20 points at 16,093. Take a look at the nasdaq, well above the 4,000 mark and up almost 35 in a year. Right now, up a half a percent or 21 almost 22 points at 4,016. 43. Sheila dharmarajan is in times square and starts us with our coverage. Hey there, nasdaq firmly above the 4 k level around 4,016 a ....
96 since halloween. Our road map begins with the markets. We could be in store for a foursession losing streak. That stronger than expected adp number adding to worries the fed might taper sooner rather than later. And a holiday treat as november sales give sales a lift. And a double whammy for financials. Citi with a downgrade and we could see a tougher than expected volcker rule. And ron burgandy means green for dodge. Sales fueled for the durango. News on concerns that the fed might scale back their Bond Buying Program when they meet later this month. Well get ism services and new home sales in about an hour from now. Its been said maybe december tapers right around the corner, jim, if numbers like this keep up. I think its tough for yellen to come in, we start tapering and we get some big frackus in january. We forget the two parties hate each other. They tend not to accomplish anything. Worst congress in history if you c ....