Were learning in the wake of the shocking ipo yesterday where buyers seemed indifferent to the share price if you wanted to buy snowflake, you had to sell something else, which triggered a selloff in the nasdaq, and that spread today, with the dow dipping 130 points, and the nasdaq losing 1. 27 . A lot of people call into question what theyre doing paying such high prices. We saw the spectacle of a stock trading at more than 100 times, not earnings, but sales. Dont get me wrong, snowflake should not be about making money, it should be losing money. It makes sense for management to spend fortunes to dominate the cloud Data Management business you want to win, youve got to spend. Snowflake is not the issue, though the ceo will do everything in his power to deliver for shareholders hes got an amazing track record i totally understand why people are willing to pay for the nose for his stock. I liked it even as high as 125 but i jumd eunderestimated the. I heard that the underwriters were t
A press release britains trade department stated the deal is expected to increase trade between the 2 countries by 15200000000 euros while u. K. Businesses will benefit from tariff free trade on 99 percent of exports to japan well the deal still needs approval by Japans Parliament which would be passed by january well this comes as britain published an initial estimates on the countrys growth for the month of july a summit show that the g. D. P. Grew by 6. 6 percent this according to data from the office for National Statistics the economy showed a decline of 11. 7 percent compared to the same period last year now full u. K. Recovery is not expected until 2022. We focus a lot of equities but it turns out many of the biggest movers this year are commodities well oil being one of the biggest decliners down over 40 percent and Precious Metals were. They are taking the spotlight as gold reach new all time highs just this year joining us now to discuss bill must cohost and rick roll c. E. O
As well as declines in cases across the u. S. Not just big tech winners, jawdropping moves for individual stocks. Roku up 11 . Dicks Sporting Goods up 15. Urban outfitters up 20 weve got them all covered for you. 59 minutes left, what is set to be another record close for s p and nasdaq all we need is a positive finish kayla, welcome. Thank you, sara thank you for having me. Feels like record finishes every senile day we have a great lineup of ceo interviews coming your way on the rest of the show well me with the head of Toll Brothers about his companys strong Earnings Results and whether the Housing Market can keep topping expectations over and over again plus shares of crocs you heard me up. Up 300 just since march we will ask that companys ceo what is driving the foam footwear boom. And also the ceo of etsy says amazon is trying to wipe out its competition by supporting a New California Consumer Protection bill he will join us to discuss that and much more. Its a big show today. Bu
Cash trade. Here are your top headlines from the bloomberg terminal. Trumpa on the defensive. The president stands by his handling of the coronavirus on day one of the Republican National convention. Says democrats are still blaming America First Nikki Haley Says democrats are still blaming America First. The chinese arrives in europe today. Demandsla merkel answers from russia after it was putin critict the was likely poisoned. We have figures crossing the wire right now. The German Economy shrank 9. 7 in the second quarter. The initial estimate was for a drop of 10 point 1 . This is a second look here, and so it looks like it is a little better than expected. Still, of course, a massive drop , the quarter over quarter figure. The yearoveryear figure is a drop of 11. 3 , so a big drop in the german gdp. That the bloomberg economists expect a rebound in the second half, and of fullyear drop of about 6 for 2020. Lets take a look at what futures are telling us after the new record highs
Possible covid19 treatment all in the name of politics. Biden and his very liberal running mate should immediately apologize for the reckless antivaccine rhetoric that they are talking right now, talking about endangering lives and it unmines science. Charles well get reaction from the rnc and along with Fox News Contributor liz peek. All that and so much more on making money. Charles well the markets opened under considerable pressure today, extending the selloff that began late last week. For the most part everyone agrees stocks were over their skis especially growth names that went parabolic in august. What is not agreed how much pull back we should expect. On that note i would like to there are different variety of pullbacks. There could be a shallow downturn. There is pull back to the former breakout roy is old resistance points. There is breakout to the 50 Day Moving Average. Worst one is 50 retracement. You see a pullback of at least 50 of gains that were established from the ma