Long wetlands on china, is starting to look like its biggest handicap. Going global. We hear exclusively as the Company Lands a worldwide expansion drive. Look atts have a quick how markets closed. 500 closing near session highs. Every sector was in the green. Communication and tech stocks leading the gains. The nasdaq was higher by 1. 3 while the dow gained 270 points. We had more positive sentiment when it came to trade both in the u. S. China front but also in the u. S. Japan front. President trump opened the door for a potential sit down with the iranian president. Thin. S were u. S. Futures at the moment not doing much. Lets see how we are setting up asia. Selena nursing mark green across the board. We are thinking we stocks trading almost at. 8 . Whipsawed by being the backandforth escalations of the trade war. There are fears of a global recession on the rise and rising protectionism in the calendar. Investors seem somewhat the ebullient again. Oil futures with changing rhetoric
Welcome to squawk alley. Im Carl Quintanilla Morgan Brennan has the morning off. What a morning it is too beginning with major tech earnings four big one, twitter, amazon, alphabet and intel and intels ceo bob swan will sit down with us as we look at potential datacenter recovery, pcs and unbelievable characterization of what china was like last quarter. Yeah, surprising mix, the pull in from people freaked out about tariffs actually had some benefit, sounds like, for the pc business, of course, there were some problems there as well but interesting stock action this morning. Intel actually a bit in the red this morning it had been up as much as 4 , i believe, at the open and near there. Up kit a bit afterhours and amd higher than intel which is an interesting dynamic that ill want to dig into but, you know, beyond just intel, you have lots of different earnings story, people surprised. Google, alphabet had been in the doghouse compared to peers and a lot of people got surprised by the
At the open. S p looking to be up by 1 point, the nasdaq off by 1 1 4 points overnight in asia, japan was closed for a public holiday. No trading or the nikkei most of asia was digesting Economic Data out of china the Second Quarter Economic Growth gdp slowing to 6. 2 , also coming off 6. 4 in the first quarter. Thats the weakest pace in 27 years. Industrial output, retail sales data also fixed Asset Investments were all above forecast chinese shares were down before the data was released. Then they turned positive. Overnight in europe, we are looking at i thought we were going to follow asias lead, pretty much flat across the board. The dakotas is off by 4 100 of a percent. The treasury yield market, the twoyear note 1. 845 . Just mention on the china data that markets responded better to the data for the first portion of trading in asia and europe and weve just sold off a little bit in the last few hours. As you pointed out that was just for june. Gdp for all three months it did see
As you mentioned, shares popped around 50 when compared to the socalled Reference Price of 26 a share. But no investigator actually made a quick oneday gain of 50 , as they might have in an initial public offering. In fact, the most any Public Market investor would have made buying and selling slacks shares yesterday is about a 9 return thats because the Reference Price is more of an arbitrary one set by the Financial Advisers in the nyse and a direct listing, so no shares were actually sold at that level. The shares opened at 378d 38. 5 rose as high as 42 and ended at 38. 62 to many, thats the beauty of the direct listing strategy versus the more traditional ipo. Theres no favoritism on the part of the underwriters and theres no money left on the table, because slack didnt raise capital in the first place. Overall, slacks debut was viewed largely as a success. And further evidence that the direct listing model works there were no crazy price swings Trading Volume was manageable, and t
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