Another day of dragged on stimulus talks, john. Intel not a small factor in the trade. When i think of volatile tech stocks, i tend not to think about intel. Look that two year chart ups and downs. Its like an obstacle course, a tough mudder or something. Last quarter, it was about the supply side and intels manufacturing. This quarter the surprise was more around demand and the extent to which enterprise and government just isnt buying in the data center. Cloud picking up the slack that has an impact on margins. Of course, we have the pc stuff going on which is largely a tail wind they havent for a long time but theyre not buying them in the enterprise as we would expect people are not in the workplace. People are adjusting the way they work. That does have an impact on intel. A lot of balls in the air here this volatility predated, bob swan particularly on that manufacturing side but now hes got all of these other things to deal with as well investors looking for clarity around what
Billionaires index. Raise 30 5ting to billion in hong kong and shanghai. Aviation in australia. Alice springs emerges as the ideal place to store passenger planes left idle by the coronavirus. Shery. Shery breaking news out of south korea. We are getting the preliminary thirdquarter gdp numbers and we are seeing the quarter on quarter the economy has grown 1. 9 , which is beating expectations of 1. 3 and this is also coming after its first recession since 2003. We saw a contraction of more than 3 in the previous Second Quarter. Youre on your, still a contraction of 1. 3 but its a much smaller contraction than was expected and it is also a contraction that has eased from the previous quarter. We have seen growth and strength when it comes to south koreas exports and manufacturing industries. Thirdquarter manufacturing actually growing 7. 6 quarter on quarter when you look at the details in the gdp numbers. We have seen the rebound in china. South koreas biggest trading partner helping i
The dow industrials this wednesday morning are going to go up about 170 odd points at the opening bell. S p, modest gain. A fractional loss, though, for the nasdaq which is at the 11,000 level. Stocks overall getting help from the virus relief talks. Mitch mcconnell talking compromise. Senator schumer talking concessions from both sides. Theyre looking for a deal by the end of this week. My opinion, there is no way Congress Leaves Town friday without spending at least a trillion dollars. I think a deal is coming and the market likes it. Two stocks in the news and moving. Disney, up sharply despite losing 5 billion during the pandemic lockdown. Disney plus has 60. 5 million paid subscribers, 100 million overall and they are starting another streaming service next year. All of that helps. Disney is up seven. Novavax, their phase one trial showed their vaccine to be safe and created an immune response. That stock is way up, 30 bucks a share on the upside. All right. Something different. L
Rank and file. And retail rebound lun lunacy you are watching Worldwide Exchange on june 10 here on cnbc good morning, good afternoon, good evening from wherever in the world you may be watching us here is how your money and Global Markets may be setting up the money and the rally could be setting up thedown coming off the first down day in six. The longest win streak since september. Not about the dow. It is about technology the nasdaq crossing 10,000 for the first time ever. That index on track for the 19th record close of the year most of those occurred before the pandemic or the lockdowns could be a 20th record high. You could call it a stayathome trade or a tina trade. There is no alternative to technology amazon, facebook, apple, microsoft. Doing the same strategy they did prelockdown. Awaiting fed chairs next move out with the latest policy decision at 2 00 p. M. Eastern time today sara bloom raskin told us there is still a lot for powell to consider the economy is not an on off
Ultimately it will be up to county officials to decide when its time to reopen their restaurants. Kron fours dan kerman is live in San Francisco with reaction from a local restaurant, what are they saying down. Well a lot of questions about what can be done can they do the social distancing both in front of the bar and also behind the bar if you will meaning the kitchen and outside the kitchen, one is easier. The others not but the real question restauranteurs are concerned about is whether people will really be ready to come back in and enjoy themselves even before theres a vaccine. Takeout delivery become the key buzzwords of restaurants across the bay area. Now that shelterinplace orders prevent customers from sitting down inside. But tuesday. The governor released a set of guidelines eateries will have to follow should counties decide to ease restrictions. Not to come out and provides no real concrete guidelines it says creates more uncertainty and that is not with winds right now.