Behind, but what is important is the symbols along the way, and the number one symbol is the most unloved bull market since time began. You do measure the wall of cash on the sideline. How does that feel this dow 30,000 morning . Left out,very lonely, isolated, and i imagine some of it has capitulated. We talked about a tugofwar at the start of this month when we got deposited vaccine news. Overwhelmingly now, this market is looking through the nearterm risks into year end. I had a conversation with someone who suggested we could get a negative payroll sprint negative payrolls print for the next couple of months. It is an outlier call, but deteriorating data is consensus, and here we are running straight through it. Tom maybe it is a biden administration, the fed coming on, stimulus coming on. You keep talking about the russell 2000, up 11 year to date, and it has been a moonshot the last number of weeks. The nasdaq 100 lagging recently, up 34 year to date. 500 up 12. 5 . P for you, we
Good thursday morning. Welcome to squawk alley. Im jon fortt with carl quintanilla. It is cloud week on squawk alley. If you were betting against snowflake, wur oyoure out in t cold this morning. That stock up is 12 same for Cloud Security and authentication specialist okta were going to talk to the ceo to see if this thing may stabilize from here or go higher splunk, that is the sound of a cloud stock dropping 22 after missing Sales Guidance for the third quarterer in quarter in a row. All this happening as amazons cloud conference is in full swing. Salesforce announced the second Biggest Software acquisition ever and we started the week on squawk alley talking to ibm president Jim Whitehurst who came to big blue in what and is still thelargest Software Acquisition ever redhat driven by a hybrid cloud. Julia, investors are betting on further growth from already heady levels we can certainly see that in what is happening with snowflake this morning it is reapproaching the highs that so
Coronavirus impact on the nations Food Industry, Small Business can be heard from representatives of the industry on supply chain issues, loss of customers, perishable food than facility cleaning and maintenance, this is just over 90 minutes. I call this hearing to order. Without objection the chair is authorized to declare recess at any time. I think everyone especially our witnesses for joining us today for our committees private hearing. I want to note some important requirement. Let me begin by saying the Committee Rules and practice continue to fly during hybrid proceedings. Members are reminded they are expected to adhere to these rules including decorum. During the period designated by the speaker the committee will operate in accordance with House Resolution 965 under subsequent guidance from the rules committee in a manner that respects the rights of all members to participate. House regulation requires members to be visible through video connection throughout the proceedings
Current temperatures and later on today as i mentioned warmest were only going to be in the low to mid 80s. No 90s left in this forecast and even cooler in the days to come. Robin. Thank you john lets check in on the traffic now which is picking up around the bay area over to the bay bridge toll plaza more folks heading into San Francisco, not encountering any so its still a great trip a minor weight off and on right down the middle read 11 minutes off to fremont street, heres a trouble spot. This is the east shore freeway this is traffic coming into emeryville we have a crash working 80 west at powell street so as crews try and get that out of your left lane, its backing up into berkeley so 80 west slows from berkeley down to emeryville because of that crash. Were also checking construction on the nimitz this is saw between the hayward in union city southbound id say right around 10 a son and whipple between those 2 exits the 2 right lanes are blocked for late construction. So thats b
Afternoon which ill get to still to come robin all right, thank you john now were checking in on your morning commute which is off to a fantastic start i have not found any hot spots that you need to stress out about in San Francisco. So were checking in on the bay bridge you can get a live look at your approach to the toll plaza if youre about to roll in right now. You are looking good. No problems here from the oakland maze right on through downtown 7 minutes is a good drive time 92 is busy but not bad a little crowded west of the tolls but only 12 minutes to the peninsula. And heres one more the Richmond Sandra fell hot spot free a great time to get out there news at 6 minutes into the north bay more traffic updates coming up a little bit later back to you. Thanks robin. So to our top story this morning, President Donald Trump abruptly ended Coronavirus Relief talks that would have put money in the hands of americans and Small Businesses but House Speaker nancy pelosi is pledging a