Convention. We also heard speeches by senators cory booker, tammany duckworth and former south bend, indiana, mayor pete buge gig. 40tham hereby calling the session to order. Welcome to this final session of this historic and memorable convention. The 40th National Convention to order 48th National Convention to order. Every year, every four years we have come we come together to reform our democracy. We say we fight for a more Perfect Union because were fighting for the soul of the country and for our lives. Right now that fight is real. As as our next president and Vice President. Donald trump is the worst donald trump is the wrong president for our country. He has had more than enough time to prove he can do the job. He has is over his head. He simpe need him to be for us. It is what it is. Carry on the fight for justice. Our action will be their legacy. We just need leadership to bring us back together, to recover from this pandemic and prepare for whatever else is next. Leadership
I do want to highlight a 10 year yield in the u. S. , the yield is lower by about one basis point. 60 to 70 basis points, and how much can we tolerate on higher upside when it comes to yields . The Democrat National convention will be focusing on joe bidens vision of the party. Last night focused on trumps performance in office including his handling of covid19. To everyone who supported other candidates in the primary, and to those who may have voted for donald trump in the last election, the failed federal government that watched new york get ambushed by their negligence and then watched new york suffer but all through it learned absolutely nothing. Itay, six months after began, the nation is still unprepared. Magic if we had a national strategy. So everyone has access to a safe vaccine. More than 150,000 people have died and our economy is in shambles because of a virus that this president downplayed for too long. That even before trumps negligent response to this pandemic, too many
We have blake burman at the white house. We begin with gerri willis. We finished with the s p at new record highs for first time in six months. Above the prepandemic highs. Think about that. That is the 14th record close this year. Turn to the nasdaq as well, also at a record high today, second Straight Record close for that index. The 34th record close this year. 174th record close since election day. Good news there. Market keeping an eye as you said on two big earnings reports today. One was walmart. Shares down after the nations largest employer reported eps of 31 cents a share, blowing out estimates samestoresales up 9. 9 . Online sales up 97 . Even so the stock is down. Dont know what it takes to get walmart up today. Home depot that stock up as well. Blowout Second Quarter with the sales up 23. 4 . Americans are remaking their homes as they are forced to live there, stay there, work there all the time. Finally weve been watching apple shares closely. They are higher today as the
Welcome in to squawk alley. Dow down for a fourth day in a row. Have not seen that since february, but the dow repaired some ofthe internal damage the s p went green the nasdaq getting helped once again by a tech trade that seems almost impossible to kill. Even with invidia and the expectations last night. Yeah, in the green at the moment well see where that goes. Were going to start with some controversial ipo paperwork. It was the ipo that was and wasnt, now it is on again it company was one of the most widely anticipated listings of the area then travel grounded to a halt and with it airbnb bookings. Revenue started to rebound by june and july bookings returns to prepandemic levels. This could be a pandemic come back story, but much still has to be written. The main question will be whether or not investors give the startup a pass for this year air bnb had the record to even out profitability and enough cash on hand at one point to consider a direct listing. As losses have widened t
We begin with the call from Goldman Sachs to avoid apple, to sell it. John, to you first it is your biggest position. Is this the right call from Goldman Sachs reiterated to get out of apple all right were not hearing jon. Well work on that the steve, youve trimmed a bit of it what do you make of this call. We see apples recent Stock Performance and trading level as unsustainable and will continue to recommend that investors avoid this stock i did trim some a number of months ago its still my biggest position i trimmed it to me, apple is the market right here the stock does not deserve to be where it is but neither does the market and neither do a lot of stocks. I believe youre in front of the companys biggest Product Launch ever, which will be the 5g phone. The market is forgiving lot of the sins if youre looking at purely does it deserve to be here in a microscope looking at apple . No you can make that case on anything im not selling anything let me take that back. I may trim a litt