Good monday morning. Welcome to squawk alley. I am carly fiori i am Carl Quintanilla with Morgan Brennan and jon fortt a big week in Northern California more from jon in a moment. What a day tons of record highs for stocks and indexes overall. The dow hits an all time trading high, First Time Since july. We turn to mike santoli with whats happening. The big picture in terms of overall market is removal of points trade deescalation, low yields it is happening at the same time where some more emerging Consumer Tech companies have been punished brutally last month and last week, wayfair, grub hub, etsy, pinterest, beyond meat, yelp struggled. Whats going on here is i think some of the real emerging Business Models are having a reckoning, relationship with the consumer through an app is not enough and essentially after uber and wework debacle, people wonder if the leading edge of Consumer Tech is worth owning the question now is what it means for the overall market in a sense, it ratifies
Calling the shots in this market. This week led to a close with the dow dipping 26 points, s p back sliding. 05 . While the stock s of the Fastes Growing Companies maintain their domination. But on a casebycase basis, theres still plenty to clear about with individual stocks, and if you relate it to social, mobile, cloud, Artificial Intelligence continues to get a boost. But anything related to physical bricks and mortar merchandising remains down. But nordstrom taking the market down again today, and even the a slowdown in its e commerce business. Throw in the fact that deutsch bank slapped an out right sell rating on General Electric and this whole thing has made us think that the market has qualms about selling by the enterprise and by the individual. I expect the same battle to play out again in next weeks earnings score card and you know what its going to start with . A Company Called trevago. Last week we sat down with the travel behemoth, its forecast, its forecast was regarded
Equities european right now, 30 minutes until the end of the tuesday session. Gmf go is your function. The european benchmark down for a fourth day, worst stretch since march 7. Common currencies falling, the ones at the bottom, including the pound, rising against the dollar. Sovereign bonds is your final three columns. You just heard before from the chief executive of ryanair, michael oleary. Ryanair planning to accelerate european expansion, taking on financial woes as regional competitors reduce ance on and in certain uncertain u. K. Market. We are going to add two or three more 737 jets to its existing delivery schedule while extending leases on 10 other planes through 2019. Rising demand helping push profitability for the fiscal year through the end of march up by 6 . Passengers increased 30 to 120 million, bolstering profits despite a 13 drop in shares. Sticking with airlines, the owner of British Airways was not trading in london yesterday because of the trading holiday. London,
Financial trading revenue saw a drop of 15 . Hear what the companys ceo has to say about the results with shares down almost 6 on the session today. Many of its competitors are not down today. All right. We have a brain drain at yahoo evan has been talking about, two more people, high level people, have left the technology giant. We will discuss the impact of yahoos executive exodus coming up. And ibm set to report right after the bell. The companys cfo will join us live before the Conference Call for an exclusive interview, shares down about 1 ahead of that report. Lets start with chinas economy, that has september Oil Prices Lower today, dominic chu has the story for us. So, bill, kelly, we understand right now that the china slow down effect has been anticipated for quite some time. You could argue perhaps priced into the market but still we finally got confirmation of some of the worst levels of Economic Activity that we have seen since the Global Financial crisis back in 2008, 200
And we have a special edition this morning. I went to give him it is thanks for his time and dedication in helping to shape the task force is luminary regulations along with the entire task force will i introduce in a moment. The governor of the great state of kentucky has joined us is morning as well. [applause] thank you so much. I appreciate that acknowledgment and round of applause that youre given them. I know that everyone is as excited as i am about last weeks announcement that are 2016 National Convention will be in the beautiful city of philadelphia, the city of love. This says briefly, but since we in addition to donna and others maybe it wasnt so great. We heard from him yesterday, but i have asked him to take some time today at our meeting to tell us and give us a little glimpse at we have look forward to with the lid off in 2016 as we move in that direction. Since being elected mayor in 2008, he has vigorously managed City Government to the worst recession since the Great