The general says the failed coup in crackdown will have an effect on u. S. Efforts. The Coalition Fighting Islamic State is dependent on turkey for basing resources. From new york, i am mark crumpton. Bloomberg west is next. Emily im emily chang and this is bloomberg west. Alphabet shares getting an afterhours bump. We will break down the numbers are eight amazon seeing doubledigit revenue gains after record sales of fire tv. A 59 surgedline, in revenue from its cloud business. Another day, another another multibilliondollar tech takeover. Lead tradeur alphabet shares gaining afterhours as googles. Company proves its dominance in mobile advertising. Sales, excluding some payments to partners, rose 22 to more than 17. 5 billion. One of the benefits of the alphabet reporting structure is that investors have a better moon shots are doing, things like this all driving car, science research. The so called other bits 859 for the 859 million quarter. The numberso put into perspective, Forrest
Money being pulled out of equities over the last year. And yet were at record highs. This rally in my mind is not i dont think we have evidence to justify these levels in the equity market at this moment. With us for the hour today is our panel. Pete, you first. Is larry right. I think hes right, where are we going to go. I think the thing that larry talked about is some money has left and is on the sideline but some of that money has returned. Theres no doubt when you look at some of the performance whether it be the utility space, the Telecom Space but the good news is that rotation to some of the other areas where you do still have the right types of valuations. Its not extremely extended like the two i mentioned and i think thats where youre seeing some of the flows and its been some of those areas where youve seen this great spike. I tell you what steve, larry said dont be surprised if you see a. 75 on the ten year. Yeah. I agree with everything you said and i have no problem taki
60s and 70s across the bay area. It will be breezy and cooler tonight. Sunset 8 14 and cooler for the weekend. Mike has an update on that slowdown through fremont. We are watching 880. There were rumors of a crash. We are looking toward a little build southbound by the truck scale there. Overall looking good. This is slow iing. This is starting to clear up now. That road crew did clear. We have recovery now but slowing out of hayward to union city. Typical pattern for the rest of the bay approaching the bay bridge where metering lights are on. There you go. Just filled in that. Back to you. Thank you, mike. 6 01, we have breaking news we are following from overseas. The french president confirms and egyptair flight carrying 56 people crashed. Its too early to know why. The flight was traveling from paris to cairo when it disappeared from radar over the mediterranean sea. We are seeing the plane made sudden swerves. It was behaving erratically as it was coming down. We can confirm that
Expected job report from the fed. Were going to talk a lot about that this morning. In the meantime, take a look at what happened overnight in asia. The nikkei was up a quarter of a percentage point. Markets higher in china too with the shanghai up. 60 . Hang sang putting in a similar gain. If you take a look at whats happening in the early trading in europe, things are mixed at this point. Dax is up a third of a percent. Cac is up just under. 20 . Ftse is down. 20 and check out crude oil price this is morning, up 1 settling in just under 45 for wti. Among stop stories. 65 billion transaction bayer hiking offer for monsanto to 127. 50 a share. Up from 125 offer. Monsanto acknowledging the latest offer. Calling the discussions con struckive. Have been in talk since may. Bayer believes acquiring the seed maker would position the firm to help farmers produce for a larger population. Well have a lot more on the potential deal in just a couple minutes with an analyst. Other news, volkswagen
Sweaters, and some scary moments occasional for investors. After all, october has brought frightful events, like the 1929 stock ma crash, black monday in 1987, and a 500point drop on the dow, thanks to the socalled asian contagion in 1997. Today brought none of those but the month did start out on a down note as investors digest economic in news showing spending fell for a second straight month. Tepid manufacturing numbers and Oil Prices Hit a threemonth high on renewed optimism opec may reach a deal to cut production a in, the dow jones industri average fell 54 points to 18,253. Nasdaq was off a modest 11, and the s p 500 off 7. David kelley joins us now to talk more about the markets in october and whether ot the upcoming president ial election wi have any meaningful impact on trading this month. He is the chief global strategist at jpmorgan funds. David, always great to see you. So how be the election . Do you think that it has the potentia to it unsettle the markets . Well, it coul