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
Bank. Micron issues a trade warning. Shares down this morning on a disappointing outlook and ceo san yjay mehrota joins us in a e minutes. Tell the story. Im sorry to interrupt. No problem. Eagles won last night i can do whatever i want. And half of the debuts trading below their offer price. Does that spell trouble for the ipo market wells is up in the premarket after naming bank of melon Ceo Charlie Scharf he held the top job at visa. Wells plagued by scandals struggled to find a replacement. Alan parker will stay interim until scharf joins the company the Conference Call is under way and well bring you developments on that. He had quite a run at visa and left for geographic reasons really. Yes, he did able to stay in new york, his family still going to be with him. One daughter right there, another one close by, folks nearby, very much dedicated to them i got to tell you, congratulations, or as people would say, as president ford would say, their Long National nightmare is over. I t
Live picture for the moment that it happens. The workers failed to reach a deal over wages and benefits over the casino that once was run by donald trump. Thats the latest. Back to you now. All coming at the beginning of the big fourth of july holiday niy nweekend. No word whether taj mahal will hire temporary workers. Starting today, youll save money at metro if delays hamper your commute. You get a 15minute window. If you tap into that station and are within that 15minute window, you wont have to pay. Welcome to friday, everybody. I know we waited all week for you and now the long Holiday Weekend is here. Heres what you need to know. For today, the humidity big time comeback. Highest chance for is he veers storms today betweenur 4 00 a 11 00 this afternoon into this evening. Unfortunately, were carrying a pretty high chance for rain on the fourth of july itself. Were watching that very carefully. Radar this morning, nothing around the metro. This fading batch of rain showers well s
Voters 4455 . And young people 16 to 83 . Clinton already trying to woo them. I know i have s some work to do, particularly with young people, but i will repeat again what i have said this week, even if they are not supporting me now, i support them. Sand areas paying Hillary Clinton a compliment during a little game of campaign word association. Donald trump . What can i say . One nice thing. Comeme on, bere. One nice thing. He has nice ties . Nice hair . Humble. Hillary clinton . Intelligent. Cecilia vega, abc news, new york. Twitters Financial Outlook struggling to tract urs. Wall streets not happy about it. The social Media Service reported earnings for the end of 2015 and while profi in advertising are ticking up, growth has stalled. The company is promising to make changes to improve the service including adding more streaming video. Time to mark your calendars, folks. Are you ready . Hot dogs are coming to burger kingng. T veggie dogs though. Thehe chain says its National Rollou
All that turmoil oveverseas post ris. This s is very important. Will they raise nextime. If we cacan interpret this, it sounds like theyrre saying, look, the risks are e not as severe. What do they say a about the u. Economy and the terms of its slowing. Labor market ndnditions are him through. They have improved further. Economic activity y appears to have slowed. Again, it is not worrieded about the international devevopment. This looks like a a slightly moe hawkish position. N. Maybe nofar enou alolong to set t up a rate raised in june. Thank you so much. A a economist Douglas Holtz eak. They did n e expt us to raise this time around. Are they neeng their cells and the ability to pay that . I do not think that the fed is vermuch into riveting. As you pointed out, the internatnal indexes interesting. I happen to think th what we have seeis aause. The u. S. Weaker dollar aows commodities, china, etc. , to abilize and that is what we have seen. The fed is kind of stu in the middle. In