68 points and the s p declined 22. 4 and the nasdaq fell fell. 70 . When it comes to everything from aerospace and elevators consumer packaged goods, coal oil and now computers and cell phones if its getting sold in china its getting obliterated i think china became the marginal buyer of everything the place where all hopes and dreams have come from in that thesis true or false is now fall apart because of that chinese stock market crash earlier this month. That was the sign that growth has peaked in china. Money managers now think that its all down from here. No, no china, mighty china is now regarded as a paper tiger. Lets take apple, the subject of endless, after reporting one of the greatest quarters i have ever seen in all my life. China has become a larger and larger part of apples growth and the ceo makes no bones about how it will ultimately become the biggest market and totally private Conference Call and with the ubs analyst Steve Milunovich about a potential slowdown in chin
Plus, infamous short seller andrew has a new target. Why he thinks the bitcoin is one of the most dangerous trades in the market apple making it official sending out invites for the big iphone 8 unveiling with the stock up 10 just in the last month, will it be a news event we start off with drugs and money. Health care, the best forming record, now the second biggest sector of the s p 500. Big pharma, and big biotech, check out moves in the names like pfizer, bristolmyers, eli lily, plus gilead continue their run. So is health care where you want to be right now . Which is the better bet . Big pharma or big biotech . I got myself in trouble last time no, no, i permit you to answer the question open its a is it a plug . Yes i think we sell. Biotech over regular tech. Its proven to be right at least for 24 hours but weve got to whittle it down ill play the whittle it down game with you. At this point in the cycle, i would go big cap pharma. Not to suggest that biotech is done by any stre
Lunch on a monday begins right now. Welcome, everybody im Tyler Mathisen stocks posting solid gains and sending the dow, the s p and the nasdaq to alltime new highs materials, financials, telecom leading the way higher meanwhile, yields on tenyear notes hitting highest levels in more than a month. There you see it 2. 23 check out some of the movers in the market shares of ubiquiti networks, thats spelled interestingly, dropping about 8 . Short Seller Citron Research calling the tech Company Total fraud. Nvidia trading at alltime highs. Paccar also hitting alltime highs. Im Michelle Carusocabrera while the east braces for hurricane jose this week, Hurricane Maria has now strengthened into a major category 3 storm we have the latest just minutes away Home Builders feeling less optimistic concerns that rebuilding efforts after hurricanes harvey and irma will drive up construction costs. And the cnbc global cfo council releasing its latest info some giving President Trump credit for some o
Mulvaney says the administration will send congress a disaster aid package. Global news, 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. Im alisa parenti. This is bloomberg. Bloomberg technology is next. Cory im cory johnson. This is Bloomberg Technology. Coming up, facebook, twitter, and google all under the spotlight as the Senate Continues to probe russias influence in the election. What changes could be underway for tech giants. Plus, google unveiling a generation a Second Generation of its most popular devices along with new gadgets, but can they catch up to apple . And a Speaker Company rolls out a voicecontrolled the voice voicecontrolled device. Members ofr lede, the Senate Intelligence Committee Said they will not be releasing russian finance ads financed ads turned over to them by facebook. They issued a stark warning as well. The russian measures did not and on election day, did not end on election day, 2016. They were not only
Just above estimates we begin with wall streets record run futures pointed to a muted open. The dow coming off a fivesession win streak. Plus broken Business Model . Elizabeth warren promising to follow the money when she questions former equifax ceo rick smith in a hearing this morn and pepsi shares are sinking. The beverage and snack giant beats earning but has a lower outlook. The dow, the s p and the russell coming off record highs. The Financial Sector posted its highest in ten years with watches on to see how resilient the market can be. I think what were seeing is a recognition that the economy is better so instead of paying low multiples for, what . Nothing, sorry, go ahead. My pepsi notes. Instead of paying low multiples for companies lets start with the banks. We are going to give the banks a multiple that looks like a stock. Do you know how long its been since i used to speak with brian moynihan, he does a great job and i would say okay lets say you can make two bucks, what