Wall Street Breakfast November 26: Maiden Voyage For Alibaba In Hong Kong
I welcome to scale as Wall Street breakfast. Your daily source of market news and analysis. Subscribe to this podcast on Apple podcasts. Gulag casts certified and Stitcher. Good Morning. Today is Tuesday November Twenty Six and I'm your host. Steve Brown our top stories today maiden voyage for Alibaba Baba in Hong Kong data in the mix with stocks at records and Powell sees glass more than half full leading today's news. Shares of alibaba secondary listing in Hong Kong closed six point six percent higher than the issue price marking this year's largest stare sale and a boost for the embattled Hong on Kong market alibaba tends to use the phones to diversify and has raised at least eleven point three billion dollars from the deal and could reach as much as twelve point. Nine billion if overallotment option is exercised while the offering was larger than the roughly eight billion raised by Uber in May it's still expected to be topped by Saudi Aramco's anticipated listing in in Riyadh in December in other news signs of trade progress on Monday. Help propel US indices to records as the Dow tacked on one one hundred ninety points and return to twenty-eight thousand level Dow futures are now ahead by point six percent the lesson and Nasdaq futures have pulled back a bit as leaders of the US U. S.. China trade negotiations held another phone call on Tuesday morning. Investors today are also eyeing the. US data fruit with new home. Sales expected to jump and consumer confidence disfigures on tap monetary policy is now well positioned to support a strong labor market and return inflation decisively to the feds. Two percents target fed fed chair. Jerome Powell said Monday evening. The Greater Providence Chamber of Commerce at this point in the long expansion. I can see the glass as much more than half full with the right policies please. We can fill it further building on the game so far and spreading the benefits more broadly. All Americans T. Mobile's efforts to close its deal with sprint. Are Gathering pace before a trial with posing attorneys general on December Ninth Nevada is the next state to drop its opposition to the top in exchange for early deployment of the next generation in wireless networks and the promise of several hundred jobs on Monday. Texas Attorney General Can Paxton announced his office additionally reached a settlement with T.. Mobile resolving in the states antitrust claims against the proposed merger key mobile is up one point three percent pre-market Ebay agreed to sell it stubhub business on on Monday to via Gogo entertainment a significant competitor internationally and particularly in the UK and Europe already among the largest players in the growing secondary market for sports music music and live entertainment. The combined company expects to sell hundreds of thousands of tickets each day across more than seventy countries the four point five billion dollar deal is also a major cash ask windfall for ebay which scooped up stub for three hundred and ten million in two thousand seven impossible. Foods is in talks with investors about funding round that could more than double the two billion dollar valuation. The alternative protein company attained in May the fundraising could also set the stage for an IPO as early as next year sources told told Reuters rival beyond meat still trades at three times the level where the company's IPO was priced in May and the strong rally has pushed most of the sell side community to the sidelines. Ends giving an estimated date for their proposed up Fiat Chrysler and Pujo owner. PSA told their employees they would sign a binding merger agreement in the coming weeks nine. Working groups were further established to create the world's fourth largest carmaker. FCC Chairman. John Elkin said last week he was not worried that a shock racketeering lawsuit from from GM would derail the merger which aims to keep the company's ahead of the curve with connected electrified shared an autonomous mobility as of six twenty Hunia am today the Dell crude oil and gold are all set to open in the green with the S. and P. Five hundred and Nasdaq down on today's economic calendar. Consumer confidence is out at ten. Am Eastern time. If you enjoyed today's podcast. Please be sure to rate and review it blow. Your feedback is deeply appreciated associated. That concludes today's Wall Street breakfast. Thank you for listening for the best investment analysis and news on the Web Dot Com. Subscribe to this podcast on Apple. podcast casts Google podcasts. spotify stitcher you can sign up for our other podcast behind the idea. Let's let's hook ups cannabis investing podcast gasp and marketplace roundtable. Almost as well have a great day.