Welcome to squawk alley for your wednesday morning im Carl Quintanilla with julia bore steen, mike san tolely with us for the hour dow is lagging down 60 jackson hole tomorrow, of course, were watching hurricane laura, the retailers but mike, crm, continues to astound. We thought 20 gain was impressive its now at session highs of 27 today alone on what bloomberg called the best revenue surprise in a decade. Yeah. Its pretty remarkable obviously the results themselves are emboldening people to say that this was as expensive as the stock has always looked undervalued or misvalued or didnt appreciate the durability of what theyre doing on the market share side of things for the longterm. What is interesting, too, if you look at it compared to some of the other software bell weathers over the last couple years, as big as todays move is, its kind of a catchup if you look at how microsoft and adobe in particular their anointing crm into that class inpenetrable areas that seem like theyre goi
European equities, up by 8 slaegts 10 off a percent we had pretty Good Movement over it had it last 24 hours because off powells testimony 1. 60 we were over 190 10year note, 2. 056 if youre planning your day its time for the crosswalk flan aer for try to pace yourself and this is right at the it very beginning of your day because youd do vp oorks and later in your day, im watching washington do the same stang and hell not see you. How were going to get numbers from Delta Airlines. After the close. You also have to be aware of ho, thats right im eves dropping youre down to five, are you not . As sooner as the numbers are out, ill give you a free cnbc envelope did you see that engine yesterday with video kw the thingroiding around in the it did. I just saw people complaining they didnt feel like they andaus compensated enough for it sglrts then you would do if you saw that it fer and if you saw nangen come across on a flight i would mang. Ohow would you notify somebody theres not enough
Market site in times square im kelly evans along with joe kernen and melissa lee we have the dow looking at a tiny gain, same for the nasdaq the dow closed at a record high yesterday. Overnight in asia, lets scan the landscape. I think the kospi was at a record high yesterday as well. Some green kind of following on from our semi strong day yesterday. Gains of about a tenth of 1 as for europe which is still trading of course, you can see some differentiation ftse 100 and dax lower ftse down more than a quarter of 1 and finally a look at crude which has been holding levels of 45 and 46. Its up about and a halfhalf a t in washington, Senate Republicans are battling for votes within their own party after he releasing their latest Health Care Bill two gop senators will not vote for the bill, that means Mitch Mcconnell has to convince every one of the 50 remaining republicans to vote yes or the legislation fails. The new bill keeps some of obamacares taxes on the wealthy and includes 45 bil
And target amendmenazon a new report says theyre to blame for keeping wages low for the american worker. Well debate that when power lunch begins right now. Welcome to power lunch im Michelle Caruso cabrera. The dow and s p 500 setting record intraday highs. Dow would be higher if not for j. P. Morgan and Goldman Sachs which are lower. J. P. Morgan reporting numbers this morning, the nasdaq is on pace for its best week in two and a half months the. Dow and the s p 500 on track to post their biggest weekly gains in seven weeks check out the movers walmart and boeing are higher on upgrades gap is higher, retail stock being added to j. P. Morgans focus list and a number of wellknown names hitting new alltime highs facebook, mastercard and ebay among them and we begin with j. P. Morgan. That story that tyler told you about. Ceo jamie dimon going off on washington during an earnings conversation call with analysts blasting the d. C. Dysfunction and the impact its having on the economy. Wilf
Starting the morning on a comfortably cool note for most. The exception would be communities higher in elevation as warm air aloft is keeping the higher hills in the 70s. By later this afternoon well see inland temperatures climb to the low 100s for the south and east bay. Look for mid to upper 90s for the north bay wine country, with those numbers rising to the low 100s once you get up to lake berryessa. Conditions at the coast will be milder with upper 60s to mid 70s by the ocean. There is a heat advisory in effect from now until 9 00 pm wednesday as High Pressure reaches peak intensity over the area. This will bring low 100s to the inland valleys and higher hills. Speaking of the hills, communities higher in elevation will be trapped in a layer of warm air making it hard to cool off overnight. Additionally, there is monsoonal moisture in Southern California that might track our direction wednesday and thursday. This will bring a chance of thunderstorms and dry lightning which will i