Tech stocks taking a pause this morning. No love for the electric vehicles this week, either then there is the tech eco systems. A new Software Brand storming the castle of apples app store. Huge announcements ahead as besos and Company Refresh their Consumer Device lineup what to expect from alexa and amazons ai. Well have that here on squawk alley. Were going to begin this morning with that story on the Apple App Store challenge as Companies Like spotify, epic games, and match group join together to create a coalition for app fairness casey newton of the verge for now, at least, joins us this morning fresh off of announcing he will start his own newsletter called platformer. Give us a little preview, and congratulations, its almost like a labor union that these companies are forming to take on apple. Do you think it will work . I think it has a better chance of working than anything else we have seen in this regard to date. I think their analogy is a good one, right apple really is m
That debate this hour. Look at whats leading the dow now. It would be Goldman Sachs up nearly 6 . Apple and microsoft leading the tech heavy weights they are in the poll positions power lunch starts right now thank you, tyler stocks are near the highs of the session right now with the nasdaq leading this mid day turn around lets get over to bob for more kelly, it doesnt feel like it but its been a very volatile two days i want to show you the s p 500 believe it or not, we have moved in 100point range in the last 24 hours we opened yesterday about 3320 and we had a low this morning at the open of 3220 theres 100point range. Right now were in the middle. Part of the problem is valuations we cant figure out where the stocks should be even the megacap names okay, they are up today but they have been all over the place apple has been 105 to 112 in the last 24 hours. Thats a pretty big range for the biggest stock in the United States the problem is our cash like to sap we did this within thi
Coming after yesterdays euphoria that is part of the momentum growth trade materials and industrials are the only sectors in the green. We have a few more ipos and awaiting more news on tiktok and oracle it will be busy coming up on todays show, mohammed elerian will join us on the on going stimulus stalemate and well speak with Jim Fitterling and shares of Cybersecurity Firm Palo Alto Networks up 80 from the march lows as companies boost protections for employees working from from home the ceo will join us to discuss that trend and much more lets focus first of all on the big stories youre watching. Mike santoli is tracking to days volatile Market Action we have the latest on stimulus in washington and sara has new reporting on the oracletiktok sag yachlt mi saga mike, markets down 1. 4 . The ive been heavy tape all day. We continue this process of sort of undoing that august overshoot to the upside. Ive been focused on levels that we saw back on august 11th thats about 3333 we closed
Then nikolas partnership with gm. Why both stocks are set to surge despite of course the broader selloff. And finally, this tesla snub. The s ps decision to leave tesla out of its benchmark having a huge impact on the stock. Not the only reason, of course well explain why later on this hour jim, thank goodness youre back, man. It was good to get your take from home at least on friday amid this madness. Well, ill tell you, what i saw last week and i see today is this parabolic move. Look, fridays close, i thought it was what we would call phony. I mean the big rally please i didnt think there was anything to it other than Short Covering i think well revisit the lows that we saw friday and then we have to rethink, because the selling, frankly, is too hard this morning that doesnt mean that i dont think ultimately the people who dont know what they own shouldnt sell, im saying this is just trying to find price discovery, where we were friday, and then we able to figure out what to do davi
Texas and louisiana preparing for laura to makela landfall asa possible cat 3 hurricane and facing new head winds of a pandemic and the end of an era. They start the end of a new slogan as Everybody Needs to keep their hands out of their mouth. This is Worldwide Exchange on cnbc good morning good afternoon good evening im Brian Sullivan thank you for joining us on a busy tuesday we have to start with the markets and your money despite whatever news there is out there, the money flowing into stocks just does not stop futures higher, maybe on possible headlines of u. S. china trade talk front all of this coming after yet another record setting rally s p 500 closing above 34 time higher and nasdaq hitting 37 records for 2020 the dow, now less than 1 away from break even on the year. Could get there today with the way the futures are looking. Speaking of the dow, there are big changes coming as announced late yesterday three stocks in. Three stocks out sales force will replace exxon mobil.