This morning the market is buzzing about a meeting in Japan between Ford CEO Alan Mulally and Toyota Chairman Fujio Cho. They said they did not discuss forming an alliance, but that didn't stop speculation in this morning's Japanese newspapers which are ablaze with rumors that it’s the first step of a partnership. CNBC’s Bob Pisani reveals how this news (and other events) are moving markets.
Pisani said, “Toyota shares climbed nicely and hit historic highs in Tokyo.” (The Nikkei closed at a 7-month high) In premarket trading Ford shares were up 1.5% (although they are still down 3% for the year.)
In other headlines, The SEC launched a formal investigation into the option practices of UnitedHealth On the news, UNH dropped about 2%.
Meanwhile in England, a ban on children’s advertising might cost Burger King as much as $196 million next year. Burger King is down about 4%.