Yield actually lower. Still seeing a bid in the long end, but nothing dramatic appeared to what you wouldve thought when headlines broke saturday. Lets get the update here. Time now for global exchange, where we bring you the market moving news from around the world. Joining us from riyadh is yousef , and Michael Mckee here in new york. We begin in saudi arabia, where aramco tells customers certain deliveries will be delayed, especially in october. Yusuf, give us the latest yousef, give us the latest. Yousef we are waiting for a Firm Response from the saudi government. The Foreign Ministry made it clear that they are going to treat this aggressively. They will defend the land, and we expect a press conference from the Energy Ministry as well to outline the day in a bit more detail the exact damage to the infrastructure. Bloomberg even understands a tour of some of that damage could be in the offing, but at the moment, saudi aramco scrambling a little bit to get those oil barrels to the
Good thursday morning. Welcome to squawk alley. With Morgan Brennan and jon fortt at the New York Stock Exchange we watch the markets being whipped by some of the trade headlines. We also have two big ipos in focus today as well. We await the first trade of smile direct club. Lets bring in bob pisani to talk about that and overall iep landscape. We heard valuation is not there, does this mean the ipo market is overrated. Slack, first earnings report, growth wasnt as strong as people thought, not a good idea, growth is not as strong. Some software companies, now theres jitteriness. This week we had three big names, all being upsized waiting for smile direct to open 19 to 22 pricing at 23 looks like and ten x genomics. Upped it to 38 it opened at 54 talking little more than a week ago, 31 to 35. We open at 55 a gene sequencing company, biotech is a hot space overall we wait tomorrow for cloud fair. Another software company, out there, Website Security and other things, was 10 to 12, 35 m
D Draymond Green is an early investor power lunch starts right now. On track for its longest winning streak since may of 2018 check out the names hitting records across sectors home depot texas instruments, sherwinwilliams and duke energy for more on whats powering the markets down to bob pisani on the floor of the New York Stock Exchange. Hello, melissa. We are approaching an historic high, 3027 is the intraday high, 3025 is the closing high that goes back to july. The check list, the reasons that got us here is really very short. Just take a look at what weve been moving, whats been moving. We got first of all momentum on trade talks. Thats the most important thing weve been seeing. Decent Economic Data in the United States as well and weve had hopes for Aggressive Central Bank action as well. And thats about it. Thats the whole check list that resulted in somewhat lower concerns about recession fears out there and the i remember packet on the markets in the past week has been rather
Traditional cigarettes. One attorney general has filed multiple lawsuits to keep them out of the hands of teenagers. But first, to our top story. Two years ago, ubers infamous ceo was forced to resign. A new ceo came in and was forced to rebuild the reputation. He has brought in new management but has not been a smooth ride. A big ipo sparked excitement but investors have not been impressed and has traded at a low price since. I sat down with ubers ceo and began by asking if you made the right decision to join the company. Dara we have resolved the conflicts the company has and there are many issues the company was involved with. You have softbank is a partner and you want them behind you. We have a great investor base. We have taken the company public. Revenue has grown 75 since i joined. We now have a path to profitability. So while we have had bumps on the road, i like the position we are in now for the next years. Emily there have been bumps on the road. And despite all the negativ
The russell up nearly a full percent. The broader markets, though, flat s p just lower dow, just higher joining us for the full hour, stephanie link very good afternoon to you thanks for having me. Markets flat overall, but whats happening underneath . Massive rotation today, and it actually started over the last couple of weeks and a lot of that has to do with a little bit better Economic Data that were getting around the world. Even over the weekend, we got the export import numbers out of china. And even though they were down year over year, the trend is still definitely up. And this comes on the heels of better pmi so i think a lot of it is a little bit better Economic Data. And then its this trade talk seems to be making some sort of progress so the cyclicals are actually the ones that are leading. Its financials, tech, industrials. And within tech, its se semiconductors versus Software Software is actually getting slammed. Is it that the expectations came down too far, too fast,