Good wednesday morning welcome to squawk alley. Im john for the with caro quintanilla and Julia Borstin well start with apple, a cost cut for Small Developers josh lipton breaks down the news for us. Here is how the new program is going to work its called the App Store Small Business Program it launches on january 1st and it does represent a big change here. Developers earning up to 1 million during the Previous Year will now be eligible for a commission of 15 on paid apps and inapp purchases, and that is half of apples Standard Commission apple says the new program will impact what it says is the vast majority of developers selling Digital Goods and services on the store. Tim cook saying in a statement the app store has been an engine of Economic Growth like none other, creating millions of new jobs and a pathway to entrepreneurship accessible to anyone with a great idea for investors this change is also important remember, the app store is critical for apple it accounts for an estima
S p by 11, nasdaq up by about 42 there were a few areas of the market yesterday that continued to outperform including the small caps russell 2000 coming off an alltime intra day high. And then there is the khodow trs trading at a record high and right now it looks like the ten year is yielding just about 0. 8 the transports a lot of times, they are an early indicator of what is to come, but maybe more difficult to glean what is happening this time given the overall virus situation. Yeah, it is and it is really not things Like Airlines so much driving the transports actually fedex and u. P. S. Are arguably kind of stayathome plays and they are also big components of the transports so really just kind of gone sideways in the last day or so, not much of a pullback just yet. So well very to see how that develops and in this context especially with the White House Task force painting a bleak picture on the near term outlook. The most recent report warns that there is, quote, now aggressive
Because we lost control of covid19 today went higher. The the s p gaining and nasdaq gaining 1. 02 . Hospitality and leisure. Has the market lost its mind no we are dealing with cross currents any time stocks get hammered, it seems to trigger visceral vaccine reaction good news bails out. On the one hand we know the cavalry is not coming. It is going to be in the form of at least one, pfizer vaccine, wont reach us until spring. In the meantime the virus is out of control we had 162,000 cases yesterday we are in a rough winter earnings from cisco, the networking type and Applied Materials and walt disney which needs no introduction. It is looking like well have a smooth transition from the Trump Administration to the Biden Administration thats a huge strange and even last week at this time, a notion of trump refusing to make plans to vacate the white house. I am sure you are sick of hearing it could the good earnings continue if you are worried of the virus and encouraged by the vaccine
Geoff when your house is worth nothing and your pay is cut by 10 grand, it changes your life. Lemonis my job is to help this owner appreciate his staff. This isnt gonna go anywhere good. Hayden its not. Lemonis . And rethink his process. If we dont fix this, this business is gonna go nowhere. Im Marcus Lemonis, and i risk my own money to help businesses. I love investing in american businesses. Woman these people are here because they care. Lemonis its not always easy, but i do it to create jobs and i do it to make money. Do we have a deal . Lets rock and roll. This is the profit. So, i received an application from a company in georgia that has a cooler business. Its called polar bear coolers. The overall cooler business has exploded, and particularly the highend cooler business cause people want to invest in something and hold it forever. And the softsided cooler business is a fastgrowing category. Now i love tailgating and i love the outdoors, and so it fits nicely into my portfolio.
Even more new information. Apparently from Hunter Bidens former business partner, detailing just how close hunter biden and his Business Associates were in dealing with the Chinese Energy company. The communist china considered tto russia for Energy Fields. Working with vladimir putin. The senator say the new details deepen their existing concerns about counter intelligent risks, intelligent risks and much more. We also the growing backlash against the media. And democrats are trying to politicize and attack operation warp speed. Its bringing effective vaccines to the market. Onthe debate are the putting politics of your health . Also weve got more on newarks Governor Andrew Cuomo attacking arab corner for asking about School Closures by the governorer said you know what, you are wrong. The announcement came out moments later that new York City Schools were in fact closing due to covid 19. Now parentse and taxpayers are increasingly worried that elected officials dont know what they ar