deal talk is brewing as constellation brands makes a bid for brown-forman. leslie picker will join us with the very latest. first we start off with a stealth rally in the so-called safety trades. check out this. consumer staple stocks up 7.5% this year. utilities up 8%. gold up 9%. you know what, throw in bitcoin up a whopping 130%. so this is really the new pro growth world under trump, why are investors snapping up safety trades? uncertain world is this a place to put fresh money to work? guy? >> i think i can explain all four. i'll let b.k. explain bitcoin because he's been all over this story. consumer staples, rising tide lifts all boats. the economy is getting better. job market seems to be getting better. u tiltsz, why they have done so well? because everybody thought rates were going higher. ten year yields have been going down. people have found safety or some form of -- >> income in. >> income in utilities. fair enough. gold is a function of the dollar. dollar had a big rally. round trip since the trump administration started. dollar has been weak

more on this brown-forman story. the crowd dispersed over there.eslie picker, give us more shares on the bid. >> reopened after being halted for five minutes. in reopening, the stock gave up half of its gains, prior to the halt. reason for the halt cnbc reports that constellation brands made an approach to acquire jack daniels' owner, brown-forman, according to several people with knowledge. they were interested in purchasing, brown-forman said they were not interested in selling. it did pass the idea along to the board. the people said. now, consolation brands is still interested according to one of the people. fifth generation owner family own a majority of the voting power and historically said they want the company to remain independent. now, shares of brown-forman gained 12% over the last week as rumors about the company bled into the market. a representative for brown-forman declined comment, and representative of constellation brands did not immediately respond to our request seeking comment. brown-forman with a market cap of $22 billion own

made a bid for brown-forman.erment we should note the stock that's been halted, it was a five minute halt because of volatility as we understand it. we just hasn't lted. 52-week high. constellation brands went higher on reports of this, but now trading lower by 1.2%. >> great reporting by our lestly picker. another stock to watch is deo, biggest beverage company in the world, not in leslie's reporting, guys, but talking about big mergers, the market looks to the biggest player to see what they may or may not do. >> this sector already seen so much consolidation in recent years. >> absolutely. thank you for watching "power lunch." >> "closing bell" starts now. ♪ >>> hi, everybody. welcome to the "closing bell" today, i'm kelly evans at the new york stock exchange. >> i'm bill griffeth. we have more on the word from leslie picker from a bid on constellation brands, but another warning for the a automotive industry. shares hit hard on the back of weak earnings, huge decline for the stock, down more than 10% today. w

. >>> constellation brands are reportedly i'm going to a takeover of jack daniels maker brown-forman. according to cnbc, constellation, which owns corona beer among others, approached brown-forman about a deal that was turned down. the report added that constellation is still interested in combining. consolation brands was off 4%. brown-forman initially surged on those reports but then fell by 6% to $53.38. >>> a group linked to north korea is likely behind the recent global ransomware attack. according to symantec, that attack resembles that of a crime ring, no a government campaign. the suspected group is believed to have been behind the sony entertainment hack in 2014 which north korea has denied. >>> that cyberattack struck 300,000 computers in 15 countries earlier this month. and it's likely far from over. in the wake of the attack, experts now say businesses need to do more to keep their critical systems from being hacked. andrea day has more on the story for us tonight. >> i think when all the dust is settled, there will be millions of victims to this. >> reporter: a massive at

in brown-forman fred but they say it is not -- in brown-forman. but they said it is not for sale. and we are looking at then as well you -- then as william -- b razil. the president ordering troops into the street today, but then said never mind. but there have been clashes and protests against the presidency, folks calling for his ouster. and people were injured in those classes, at least 49 according to the associated press. so pressure on brazilian sets given that backdrop. david: thank you. julie hyman with the update on the markets. andng up, steve mnuchin highlights from what he said today. this is bloomberg. ♪ ♪ david: this is "bloomberg markets: the trump economy." i'm david gura. mark crumpton has the first word news. mark: the former prime and after of greece, lucas papademos, has been wounded in a car explosion. he reportedly suffered non-life-threatening injuries. two other people in the car were also wounded. he served as the greek prime minister for six months between 2011-2012. and is a former deputy governor of the where can centra

constellation brands making an approach to acquire jack daniels owner brown-forman.wn-forman is not interested in selling but informed its board of constellation brand's interest. i was reading some research notes overnight on this one. it's a staples brand. bonnie hertzog says hard to imagine imagine where this deal gets done. first of all, they don't want to sell. constellation is a closely held company by sands. she says the upshot is it's encouraging con tell lastellati willing to go bold. >> either way what is fascinating about the sector, we've seen lots of consolidation both in the drinks market and in terms of foods, snacks. it's kind of necessary for these guys to deliver the growth targets and that we have these attempts to bolt on more acquisitions and lower costs. >> constellation has been a rock star in this space, thanks in part to its big mexican beer unit. which is -- >> modello. >> a nice one. >> corona. >> usually when we talk these stories we get to see pictures on the screen of delicious alcohol. >>> other m&a news, glencore making a takeover appr

in buying brown-forman.s a report that brown-forman is not necessarily interested in selling. we have got a little bit of bouncing around. we will hopefully get the glitch fixed if that is indeed what is going on. financials helping lead the gains. thanks doing well today and individually, big banks contributing to most of the 500. -- gains in the s&p wells fargo and citigroup all trading higher and that appears to be as we are seeing yields go higher in the treasury market. if you look at treasuries today, we do not see big gains in basis, but even a three point rise is apparently enough to give a little juice what we are seeing an bank trading today. on the downside with stocks, i want to talk about interesting movers. autozone slumping after the numbers missed estimates. pharmaceuticals also falling sharply after its new ceo basically cleaned house in the executive suite. there was an earlier round because of scrutiny of its sales practices. wells fargo downgrading the stock on valuation p.m. morgan analy

brown-forman in particular is benefiting from that. sticking to liquid of a different kind, soup.e up better than 3.5%. down 2% friday following the company's earnings report, even though the midpoint below forecast was estimates. they are bouncing back in a big and then we can move to non-edible liquids. that is one of the things that hans smit and makes, the chemical company. lower, eventurned after it agreed to be bought by clarion. there has been a lot of chemicalg in the industry. now it looks like a bad deal is indeed materializing. finally, a place where you can buy liquids made by all of these companies -- i'm not sure if it is too tenuous -- right age shares are bouncing today. these shares have been bouncing on the varying chances of the walgreens-boots alliant steel being successful for the company. today, there was some trigger -- twitter chatter after the stock fell last week, but ca kiev is how you can track on what is going on with various deals. here you have the timeline of the deal. it was announced in october of 2015, and the shares maintained their gains. in ja

. >>> m&h na news, constellation brands made an offer to take over brown-forman. >>> and glencore making takeover approach to bunge. bunge says it is not engaged in talks with glencore. pro >>> and uber says it inadvertently underpaid new york city drivers for 2 1/2 years. the company took a commission from full fare prices. uber says it will pay back drivers, with interest, for the mistake. the "wall street journal" said the average driver would be repaid $900, totalling $45 million. we will talk with adam lashinsky, author of the new book "wild ride: inside uber's quest for domination." >> let's get to this. the united kingdom raising the threat level to critical and deploying soldiers to key sites to prevent further attacks. willem marks has more. >> that's correct. they're still trying to identify here, authorities and investigators in this huge police cordon behind me whether salman abedi, the 22-year-old man responsible for monday night's attack acted alone. because they can't rule out if others were involved, they decided to raise the threat level to critical. the highest in ten y