Jake’s Takes
Jake’s Takes Podcast
Jake Novak's Morning Business Briefing 12/23
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Jake Novak's Morning Business Briefing 12/23

New York Stock Exchange Building ...

STOCKS/ECONOMY

-Stock futures are mostly lower as we begin a Christmas-shortened week on Wall Street, with a half-day of trading Tuesday and the markets closed on Wednesday. The Dow begins the day down 4.6 percent for the month so far. The S&P 500 and the Nasdaq are both down about 1.5 percent for December.

-The yield on the 10-year Treasury bond is at 4.53 percent.

-Gold is at the $2,633 per ounce level. Bitcoin is at the $96,100 level.

-Asian markets closed mostly higher today. The Nikkei rallied 1.2 percent, the Hang Seng gained 0.8 percent, and the Shenzhen sold off by 1 percent.

OIL/ENERGY

-U.S. crude prices are down and at the $69 a barrel level.

-Gasoline prices are holding at $3.04 a gallon, national average.

DEALS/NO DEALS

-Honda and Nissan have officially begun merger talks. This comes after reports surface late last week that private discussions had begun. More analysts now say the merger is mostly due to Nissan's serious struggles and continuing problems connected with the 2018 arrest of former CEO Carlos Ghosn. Honda's U.S.-based shares are up 15 percent in the premarket.

-Xerox (XRX) is buying Chinese-owned printer maker Lexmark for $1.5 billion. Xerox shares are up 8 percent in the premarket.

-Private tech firm Prosus is buying Latin American Online Travel Agency Despegar (DESP) for $1.7 billion. Despegar shares are up 32 percent in the premarket.

PHARMA

-Traws Pharma (TRAW) announced progress in the development of its treatment for H5N1 bird flu. The company said tivoxavir marboxil showed safety and tolerability in the phase 1 trial. Its shares are soaring 76 percent higher in the premarket.

SODA WARS

-Coca-Cola (KO) and Pepsico (Pep) are making a major lobbying effort to stop the Trump administration from taking sugary soda drinks off of the lost of eligible items you can buy with federal SNAP or "food stamp" funds. Coke shares are down about 1 percent since the election. Pepsi shares are down 4 percent since Election Day.

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