The big rally yesterday. We had the dow dipping 131 points, s and b backsliding 4. 8 , nasdaq edging down 2. 9 this is a good moment to consider where well be in six months because its controlling a lot of action we see in the stock market so the question is will we go back to the old normal once the pandemic is over or will some aspects of the new normal remain some could be permanent. Real engrained habits. Right now wall street is trying to guess which is which. Remember, the market is a forecasting machine with expectations about the future much more than facts about the present. Thats why i say we dont care where stocks have been, we care where they are going so whats the market saying about the post pandemic economy lets start with the obvious one many missed. Peloton. Im getting right to it. Its incredible how many smart people bet against this maker of smart exercise machines. When covid hit Money Managers figured gyms and spin classes were kaput many tried to crash peloton hol
Good morning welcome to squawk box. Im becky quick with joe kernen and Andrew Ross Sorkin weve been on a bit of a winning streak up four days in a row. Yesterday the dow was up this morning, you are seeing a little pull back dow down s p down and nasdaq off by 172 yesterday, Goldman Sachs helped. Good news from moderna godm goldman came out with much better numbers than anticipated. Also looking at the trezy yield. The 10year is sitting about 0. 622 good morning. As joe mentioned earlier the twitter shares are lower after the company showed dozens of users were part of a twitter hack targeting some employees who had access to systems and tools. Among those hacked joe biden, jeff bezos, bill gates, elon musk all telling users to send massive amounts of bit koip to an address they are diagnosing the problem and will share everything once the picture becomes more clear if they got in through employees with tools and access to accounts that raises questions about security procedures at tho
So the concept of always being one we can all benefit from. When i started to write this book i wasnt expecting it to be released in the midst of a pandemic but in my view the topic could not be more relevant to be forced to have that day number one mentality. I love to ask you what you found to be so important about this topic but you could focus on those workers that Tech Companies cracks and how does that fit into your overall journey . And i come in with a slightly different background instead of going to Journalism School investing neighbor relations. But really i always focused on culture and organizational behavior and infrastructure. That something i always thought about in the background covering the news and the company. So obviously we started to see the tech giant to grow and they tend to fall apart they get bigger and their bureaucratic. Not the that typical lifecycle. So they kept getting stronger and stronger and stronger and as i was spending time i saw those that didnt
Is another data point that would be interesting against the other data points against more geographically based studies. You have to see how study is agreeing. Policymakers easing social distancing, others have used Antibody Test studies arguing that if the infection rate is higher than mortality rate is lower. Others have called into question the accuracy of fingerprint test using studies that have not been approved by the fda. He the test are good in concept, but difficult in execution and interpreting the studies depends on which community you are looking at the results in. A false positive rate is Something Like one percent, and you test 50 percent of people in your population are positive for maybe one percent of those 15 percent might be false positives but you have a good idea of whats going on so it really depends on the actual numbers. The doctor leading this mlb study tells me that all the data from the 10,000 employees has been analyzed right now as we speak they are working
Cspan, created by private industry, americas cabletelevision company, as a Public Service and brought to you today by your television provider. Host Mark Randolph is a cofounder of netflix and he is the author of this new book, that will never work. Mr. Randolph, what the idea of netflix come from . Guest ideas come from the strangest places. In that will never work a talk about this crazy idea we had in of all places carpooling. My cofounder Reed Hastings and i were commuting back and forth to work brainstorming ideas, and one of these crazy ideas we had with maybe we could do video rental by mail using dvds. Rather than rushing home writing a Business Plan or hurrying to the office and doing a powerpoint slide show, we decide we would try to take the first step to validate that idea so we turned the car around, drove down to santa cruz we both lived. I went to a used music store and bought a little music cd. I think it was patsy cline. We went next door, bought a little gift envelope