The yen rallied sharply on Monday amid speculation that authorities may have intervened to prop up the currency again after coordinated action between the US and Japan last week. Sonja Marten, Chief Economist at DZ Bank, discusses the global market reaction to the US and Japan taking action on the yen.
On this episode of Stock Movers: - Bristol-Myers Squibb (SQB) shares are surging on news AstraZeneca (AZN), whose shares are lower, is exploring an acquisition of Bristol-Myers Squibb. - Tyson (TSN) shares are dropping after the protein producer reported a 3Q sales shortfall, driven by a 16% reduction in beef sales volume, and cut its total company and beef profit forecasts for the full year. - SpaceX (SPCX) shares are moving as investors in the company prepare for its first earnings report as a public company.
AstraZeneca shares plunged Monday on news that the drugmaker was exploring an acquisition of Bristol Meyers Squibb. A deal would create one of the world's biggest drugmakers. Sam Fazeli of Bloomberg Intelligence says a takeover would make no sense.
Two Republican senators are backing a deal with acting Attorney General Todd Blanche to formally rescind an order creating an "anti-weaponization fund," likely paving the way for Blanche's confirmation as the nation's top law enforcement officer. Jeff Mason reports on Bloomberg Television.
US and Japanese officials warned investors they're determined to keep defending the yen after their first joint intervention in 15 years. The yen surged Monday morning. Bloomberg's Cameron Crise talks about what the US and Japan hope to achieve.
IBM Vice Chairman Gary Cohn says, "the market became addicted to knowing what the Fed was going to do" as he discusses market reaction to Federal Reserve Chairman Kevin Warsh's handling of the US central bank. Cohn also discusses Japan and the US Treasury Department working together to shore up the yen and the instabilities being dealt with by markets. He speaks on "Bloomberg Surveillance."
IBM Vice Chairman Gary Cohn says, "the market became addicted to knowing what the Fed was going to do" as he discusses market reaction to Federal Reserve Chairman Kevin Warsh's handling of the US central bank. He speaks on "Bloomberg Surveillance."
Rebecca Walser of Walser Wealth Management joins Vonnie Quinn on "Bloomberg Brief" to discuss the implications of Fed Chair Kevin Warsh mulling changes to the frequency and timing of the Fed's policy meetings.
Mark Cabana, head of US rates strategy at BofA Global Research, says the Federal Reserve now has a credibility issue as he discusses the bond market's reaction to last week's interest rate decision from the Fed.
Italy's Prysmian has reached an all-cash deal to buy electrical manufacturing company Atkore Inc. Prysmian said it's paying $95 per share in an offer that values the company at an enterprise value of about $3.8 billion. Prysmian CEO Massimo Battaini discusses the deal on "Bloomberg Brief."
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