Picture. Goldmansachs expects the fed to begin easing in q2 of next year. Also ahead, were going to talk about what is next for the tech sector. This is in the midst of whats been a rough august at least so far. Were down 7 month to date. And letter x Surging Company rejects an unsolicited takeover offer from its rival, cleveland cliff. Lets get some other news, though, as well, as we start the show paypal has a new ceo whoa. Yeah. Alex, who currently runs the Small Business and selfemployed group for intuit, is going to take over from paypals longtime ceo dan shulman on september 27th according to members of the board a little earlier than expected they conducted the search for paypals new ceo shulman will remain a paypal director until next may. Chriss being hired was a result of the process where the board interviewed nine ceos. They reduced that pool to four candidates and then they chose mr. Chriss members of the Board Selection Committee tell me he impressed them with leading a d
New data and uncertainty over tomorrows opec meeting. Well be leave in vienna with the latest porsche is unveiling a new model today. Ceo will be joining us in a first on cnbc interview coming up but while the dow and s p started off the session with alltime highs yet again, the nasdaq has been falling all day and Companies Like netflix, apple, amazon, theyre seeing big declines bertha combs has the news. So are the big tech cap stocks, investors calling it the great rotation today theyre taking profits on names that have run up so fast look at autodesk thats a case in point today, trading at alltime highs yesterday, tumbling on an earnings missed also announcing a 13 work force layoff, thats sending some jitters as well in tech. The biggest source of pain though overall is the sector now the Semiconductor Index has been leading the charge to alltime highs here at the nasdaq the index closing at a record high led by micron and invidia, both doubled this year invidia today seeing a chal
Welcome to squawk alley. The founder of aol ventures is with us. John, its good to have you back. Jon fortt is out today but Kayla Tausche is here. The dow is down about triple digits. A few select companies are driving whatever gains we have in the nasdaq composite this year. Six companies, amazon, google, apple and gillian account for more than half of the 64 billion in value added to the nasdaq composite in 2015. The concentrated gain in a few stocks is boosting concerns of dwindling leadership, a market top, some say. The nasdaq itself is up about 7 so far this year. And i think if you take out amazon and google, john, even the s p is negative year to date. People say classic sign of an aging bull market. Is that legit . Certainly a ton of consolidation and thats reason for concern in a business that is concerned. Youd rather have more diversification of broadening. Im not sure if its a causation or a warning sign. Im not ready to show impending doom yet. Jim cramer, of course, coi
Media was calling mr. Trump a greenhorn president. President xi showed off his latest weapons many a huge military parade. Venezuela, ten reported dead yesterday. President maduro claims support for his plan to impose a socialist dictatorship. When will his regime end . Its on our doorstep. President trump threatens strong and swift economic action. Russia, president putin will throw out hundreds of u. S. Diplomats in a tit for tat retaliation over more extensive american sanctions. Half hour from now, john kelly sworn in as white house chief of staff. Bring in a general to impose more discipline. Look, the world is on fire, politics at home is cantankerous and unsettled, but stay with us. We have the amazon news, the tesla news, the uber news and, yes, you are going to see stocks go up again a half hour from now. Varney company is about to begin. Stuart well, look at this. President trumps already taking a victory lap on the economy. Hes doing it this morning. Here is tweet. Highest s
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