Because we lost control of covid19 today went higher. The the s p gaining and nasdaq gaining 1. 02 . Hospitality and leisure. Has the market lost its mind no we are dealing with cross currents any time stocks get hammered, it seems to trigger visceral vaccine reaction good news bails out. On the one hand we know the cavalry is not coming. It is going to be in the form of at least one, pfizer vaccine, wont reach us until spring. In the meantime the virus is out of control we had 162,000 cases yesterday we are in a rough winter earnings from cisco, the networking type and Applied Materials and walt disney which needs no introduction. It is looking like well have a smooth transition from the Trump Administration to the Biden Administration thats a huge strange and even last week at this time, a notion of trump refusing to make plans to vacate the white house. I am sure you are sick of hearing it could the good earnings continue if you are worried of the virus and encouraged by the vaccine
milestone. and goldman sachs top tech analyst heather belin breaks down the direction of the company and what it is coming up and check out the mystery chart. pay attention everybody tim. i m in. this stock is up more than 10% in two days. we re dishing up the gos what this red clue. that s a clue. maybe. all that ahead. but we again with three big movers this afternoon. our team of course here to break it down for you. josh lipton standing by on 3%. seema modi digging in on trip adviser but we have the hours at mgm. contessa brewer with numbers and a big executive departure. contessa. big news from mgm chairman and ceo jim mirren leaving. he has been at the helm since 2012 in fact was mentored by the founder kurt kirk yan and will remain until a successor is found. this comes at a time fraught with uncertainty for the company. the casinos are closed in macao because of coronavirus far east visitors aren t playing bakara in las vegas. leading to 18% drop in table
John ford has the morning off. We start with this big story about big business and the white house. Two of the president s Advisory Councils disbanding after multiple ceos dropping out citing the president s response to the violence in charlottesville. Among the ceos speaking out, jamie dimon, jeffrey immelt, mary barra, etna ceo mark bertoli bertolini. I think well talk to bob crandall in just a moment, guys, but were all trying to process the dramatic decision, how it went down, a lot of good cnbc reporting on that and what the significance of this move is going to be. In practice and also symbolically in the statement that it sends to the president and the white house. We clearly havent seen anything extend into the administration and markets are down half a percent or so but over the course of the last week as a whole, were up about three quarters of 1 for u. S. Indices. Reuters now has the headline quoting a white house official that gary cohn intends to remain in his position as
Emily i am emily chang and this is Bloomberg Technology. President elect trump invites tech meters to meet this week. My exclusive interview with investor, entrepreneur, and former Google Venture ceo bill garrett. We find out what his next for the media giant. First to the lead. A techfocused meeting of the minds at trump tower. The president elect sits down with top executives who largely backed Hillary Clinton and spoke out against him. Among those attending, jeff bezos, sheryl sandberg, elon musk, and chuck robin, larry page, and tim cook. Meeting is a chance for Silicon Valley to find Common Ground with the new administration. After clashing on key issues like integration, trade, immigration, and joining us is bill merits. I would love to be a fly on the wall at this meeting. What do you think is going to happen . Do you think there will be a reconciliation of sorts . Bill i dont know. I know almost all of the individuals who were reportedly attending and they are all good people.
Flatter . If it was zero. Ditto for almost all of europe. Hardly anything there. Crude oil at this hour is stronger by 37 cents, 45. 93. That may be because the dollar has taken a breather after its rampant run. It was one market that just kept going and going. Today a bit of taking the edge off. Carl icahn warns that the strong rally in stocks since Donald Trumps election might be overdone. Even more overdone than the overdone market that hes been warning us about for the last six months, maybe the year before that. Ive known him 20 years, hes been warning me for 20 years about the market. Speaking at a conference yesterday, icahn says investors can expect trump to help fix washington and improve the state of the economy. Icahn has been a strong trump supporter. He said he bet about a billion dollars on u. S. Equities after leaving trumps Victory Party early last wednesday morning. Thats interesting. Before the election how many times have we had this as a headline . I stand over ther