Good morning, it is midnight in beijing its 11 00 a. M. On wall street and squawk alley is live. Good friday morning welcome to squawk alley. Im jon fortt with carl quintanilla. Its the end of cloud week on squawk alley. What a week its been. They have brought news on custom chips, Machine Learning and more sales force announced plans to buy slack for nearly 28 billion in the second largest Software Deal ever. Weve had ibm and microsoft weigh in snowflake and others have turned in blah earnings well hear from the ceo this hour what does it mean for investors already sky high investor malic noijoins us now i cant believe we never had you on squawk alley before i hope this is a trend i want to start with sales force slack. I know that you have known stu butterfield for a long time, even before flicker was a hit. You think this very expensive deal makes sense why . So lets remove the price out of the equation. I think what youre looking at right now is in 2020, we have gone from the idea
That group is down 4. 8 , because of google and alphabet, a sharp negative reaction to earnings there. A big week obviously, on the nasdaq as well, which is down 1. 4 , alphabet will be the bottom performer, but youve also got weakness today in amazon, in apple, offsetting some of the strength in microsoft earnings and tesla. When it comes to finding opportunities in the market right now, our next guest says steer clear of utilities and largecap value, bullish instead on midcaps with a eye on rolling recessions hitting a variety of Different Industries next year joining us, city Global Wealth chief investment strategist, Steven Whiting its an interesting idea to not just worry about overall recessions, but rolling recessions in industries, because what you hear and what ive tried to capture in Certain Companies and industries is very different, whether youre in housing or in travel absolutely. And look, two years belowtrend growth feels awful but its going to accomplish what a shallow
Today is friday, may 10th, 2024. On the stand, a third week of testimony wraps up in former president trumps hushmoney trial. The evidence jurors saw today and the major witness that is slated to take the stand next week. Outrage over the Deadly Florida deputy shooting of an air force airman in his own apartment. What is revealed about why the Sheriffs Office is called and how quickly the deputy began firing. Isorry. Apple issues a rare apology after backlash over its new ad. Happy friday. Were so glad youre with us. Were going to begin this hour with what could be days of explosive testimony in the former president donald trump. Multiple sources tell nbc news that Michael Cohen, trumps former attorney and fixer, will testify in the trial on monday. Hes expected to be on the stand for several days. Earlier today, madeline wester wrapped up her testimony. Remember, she is a former aide in the trump white house. Some called her the, quote unquote, gate keeper to the oval office during tr
Walmart saying its seeing a slight pullback for certain Food Products because of those weight loss drugs. And disneys dismal run. The stock is back below 80 bucks a share, its lowest level since october 2014. Lets begin with a drop in oil prices. Wti on pace for the worst week since march, jim. We got down to 82. 35 this morning. Yesterday, biggest drop since may. The department of energy numbers were weak. Gasoline numbers were weak, the lowest, what, since 1996. When you speak to the chieftains of the Oil Companies, they just want to stand there and buy the shares because they dont think this is the right market. They think the higher price is the right market. I look at whats happened with oil, and i say, if you have retail weakness, if you have fewer people from student loans, fewer people going places, obviously, theres going to be a backup in gasoline, but i think this price is actually real. I understand that the Oil Companies want to buy back stock, but the oil stocks never wen
LOS ANGELES Confessing that they couldn’t stand the thought of bursting their teammate’s perfect little bubble, sources confirmed Friday that nobody in the Dodgers organization had the heart to tell Shohei Ohtani what was going on with his interpreter. “Currently, Shohei has zero clue about the controversy surrounding…