Themselves as a platform investors seem to be buying it with that stock up 13 this week it just keeps going up nearly 4 today and it laid out the case for longer term growth and ironically, it will come from the good old phone, right a lot of that conference was focused on the zoom phonewhich basically enables you to take it wherever you go. And there is s ais an axios rept saying that uber may be looking to celebrate its elevate unit, the moon shot flying taxi unit it reflects obsession with profit ability, but i might argue that it reflects his obsession to please sharehold s shareholders backing away from some of the longer term ambitions such as freight, elevate now and as well as selfdriving cars, it does raise a few questions. Yes, it may give the share price a bump in the short term, about where does it position uber lon term yeah, when these companies dont have a clear business Start Talking about that were a Media Company or a Helicopter Company or were a freight company, real
Dow plunging 525 points. S p plummeting 2. 37 nasdaq nosediving 3. 02 . I got to tell you, i think this decline is healthy this market needed a beatdown if only a learning experience for people who thought it was too easy when the market is roaring, a lot of investors seem to forget the most fundamental rule, buy low, sell high they want to buy high and sell higher the problem with that strategy is when stocks go down, they go down hard. You tend to lose money faster than you make it rather than being panicked by the sell off you in a very proverse way should be cheering for it we needed this why . Because we needed to break the nasty pattern of 1999 to 2000 so many people refer to during the run the leaders never took a breather. They kept charging higher and higher until the market peaked when they collapsed. Millions of investors led to the slaughter house. I began to wonder we might be doomed to repeat the mistakes of the. Com era. The markets led by a hand full of Tech Companies b
The 27,700 level. Remember, it was 18,000 on march 23rd. The s p, what, nearly 3400. New alltime high. The nasdaq well over the 11,000 mark. Who would have thought of that. Add it all up and yes, we are now in a brand new bull market. Heres another reason for the rally. Terrific performance from major retailers, target, out today with a blowout report. Online sales nearly tripled. It was targets best overall growth rate ever. That stock is going straight up. Add this to the numbers from walmart, home depot and its clear the major retailers won big by staying open in the lockdown. Really, though, kind of tough on the smaller operators. Got to get to it. The convention, boring in my judgment. Tv ratings way down. Wheres the excitement . Everything is on tape and the whole thing lacks the spontaneity of a live crowd. The performance of the old guard, bill clinton, john kerry and a grim chuck schumer. The bright spot was aocs oneminute appearance. She nominated Bernie Sanders. The democrat
Good morning, everyone, and welcome to bloomberg surveillance. Inm Francine Lacqua here london. Happy thursday. Lets check in on the markets. A lot of focus about the turkish keene is alsom all over. He is really on what could happen in the near term. Apart from the turkish lira, there is quite of lot going on, and stocks are dropping in much of the world after the fed signaled continued concern on the pandemic, and that is weighing on the worlds biggest economy as well as treasuries advancing. The other thing i am watching out for is daughter holding, gold edging higher, and then we not need to talk about wheel, declining from a high after the fed and opec both sounding cautious we need to talk about oil. And lets get to the bloomberg first word news. We start with china, which says it is planning to hold talks after last weeks talks were canceled by donald trump. This is six months after the pack. The russian opposition leader, navalny has fallen ill, allegedly due to poisoning, unco
Special tribunal for lebanon in the hague will deliver its verdict on august 7th find out what this means for lebanon and for those indicted for all the developments. Hello im sam is a than this is counting the cost on aljazeera your weekly look at the world of business and economics this week the wealth of banks Prime Ministers and parish vicars built on the backs of slaves how much does britain oh in reparations millions pulled out of poverty jurong the commodity boom the pandemic could wipe out latin americas hard earned social and economic gains. Plus why a card and its missing billions the german tax darling that wasnt all that was made out to be. The toppling of slave owner will cost and stature amid the black lives matter protesters race among comfortable questions about britains role in the slave trade questions live whether britain should pay reparations for more than 200 years of free labor the transportation of more than a 1000000 africans as part of the triangle trade helpe