But investors see signs of an economic recovery. Paypal is embracing bitcoin, allowing users to not only buy and sell the cryptocurrency, but to use it for purchases as well. Is it time to add it to your portfolio . And snapchat reported a jump in users and revenue, and it actually made a profit, sending the stock soaring. Other companies that rely on digital ad sales are reporting next week. On the round table, my colleagues, ben levisohn, carlton english and jack howe. Ben, lets start with a look at the market. It was down a bit this week as that stimulus offer remained just out of reach, as it always seems to be. Covid cases surged. But youre looking under the hood, as always, and you think its not all one story. Thats right. I mean, look at the market right now, i dont see a lot of worry either about stimulus or about covid, for that matter. What i do see is some worry about technology. We had all the big tech stocks, a lot of it took it on the chin. Apple down 3 , intel dropped 11
Cheaper. Up 4tle out with earnings, 00 this year and they are reporting if it consecutive quarter of profits and says they will remain on track to deliver 500,000 cars in 2020. It is not just the numbers. They want to hear about commentary, about more proof profits can keep coming. Regulatory credit or no. Investors today already cheering snapchat. The fueled eight surge in social media stocks. Theset was not just stocks. Hitting its highest level since june, 2019. Paypal announcing they will allow customers to use cryptocurrencies. These were hot in 2017 and are still hot now. Joe retro day. I am sure a lot of people in 2017 would have said it is all a bubble. Maybe one day they will be right, but a lot of these trends, whether they be electric cars cryptocurrency, going on a lot longer than people think. Teslas number. The stock is up a little. Romaine i am interested in this tesla story. Potential competition. We talked a lot about niccolo the past couple months. We got word that Ge
House. And banks ahead of a slew of earnings reports today jp morgan and citi tomorrow before the open. 59 minutes left in the session sara and we are higher across the board. The banks stocks up close to 3 for some of them 3 up for the nasdaq. Best day for the nasdaq since april. Coming up, the ceo of ho logic plus we will speak with the council on Foreign Relations richard haas about how the handling of the pandemic in the United States is being viewed by the rest of the world and how it influences geopolitics first an update on the stories we are watching. Mike mike tracking the market action, ylan moi with the latest on the stimulus negotiations and more on the coronavirus treatments mike, what is driving this rally . Good question is it possible to have a low volume buying panic . Thats a little bit what it feels like today certainly the nasdaq doing most of the work. The big cap tech stocks. Look how it aektsds affects the 17ds it looks like an acceleration higher out of the trad
Vaccine. And we start out with breaking news on disney, putting distribution in the center part of its business. Julia. Thats right. Disneys reorganizing its Media Entertainment business to accelerate its direct to consumer strategy. It says this is in light of the success of disney plus the move divides content and creation and content distribution, creating a new median entertainment distribution group, this group will be responsible for monetizing all content including ad sales and digital platforms liking disney plus the new division will also oversover see operations of the streaming service. I would not characterize it as a response to covid i might say that covid accelerated the rate at which we made this transition, but this transition was going to happen anyway because essentially what we want to do is separate out the folks who make our wonderful content based on tremendous franchises from the Decision Making in terms of where the prioritization is in terms of how it gets com
Becky is off we have a lot to get to. The s p 500 flirting with the new record high. Closing seven points lower futures pointing to a pull back the dow looks like it is off nasdaq off about nine points showing you stocks in europe also under pressure talking about why this would be. Closer to 2 in britain. And treasury yields look at the note looking at. 696. We are starting to see in covid cases pick back up in europe, which may impact here. Well try to talk to dr. Scott gottlieb about that. Fortnite maker epic games taking on apple and google over what it calls anticompetitive behavior giving users a discount and cutting out the e map services which cuts out the ability to take a 30 cut from sales. New users will not be able to download the game and existing users wont be able to download any updates. Google followed the lead and removed the game from the app store and was also hit with a lawsuit. The feature was not reviewed they did it with the express intent of violating the guide