Were going to find out why. Plus, tiktok goes the clock. Were all over latebreaking developments on tiktok and wechat negotiations coming down to the wire. Later on, wheres the beef what fed shares of beyond meat into the grinder today were going to begin with the worlds Biggest Company in a little bit of a world of pain lately that is apple falling another 3 today. It is now down 22 from its record high earlier this month that, my friends, a market cap loss of only, you know, 500 billion. Put that into perspective. That is equivalent to an entire visa, a j j, maybe a walmart and a Proctor Gamble shares of alphabet, facebook and amazon also dropping this week is this just a tech timeout or do you see a rollover and maybe some more pain ahead on the tech trade . No. I see a rollover this is something that i positioned myself forprobably about a month and a half or a month or so. When you look at apple, apple is 13 of the qs, amazon 10 , microsoft 10 of the qs. When you look at a chart o
Tonights pbs newshour. Major funding for the pbs newshour has been provided by moving our economy for 160 years. Bnsf, the engine that connects us. Consumer cellular. Johnson johnson. Financial Services Firm raymond james. Supporting social entrepreneurs and their solutions to the worlds most pressing problems. The lemelson foundation, committed to improving lives through invention in the u. S. And developing countries. Supported by the john d and catherine t. Macarthur foundation, committed to building a more just, verdant, and peaceful world. And with the ongoing support of these institutions. This program was made possible by the corporation for public broadcasting and by contributions to your pbs station from viewers like you. Thank you. Judy it has been a long and damaging day along mustve the u. S. Gulf coast with much many flooded homes, plus broken bridges and rain by the bucketfal. Bucketful. Hurricane sally has weakened, but major damage is piling up. Stephanie sy has our rep
7. 44 . As you noted before the yield curve. Steepening and a rally in the financials you mentioned that june 10 was the high that was the day where the markets had their maximum enthusiasm about the strength of the recovery and how fast it would be that was the peak where the come back of value and cyclical sectors. That seems to be the dynamic and the push for which stocks were preferred and the market seven days in a row of records is not to be dismissed guys the intraday record high in this session and well have to see if this continues . Yesterdays high is around 3,500. Coming up, well talk about the abrupt halt to the sports world. We ha we have fed president s and the interim ceo of tiktok. What a story it has been and a soap opera all week long we are learning more in the details in the sale of tiktok after walmart confirmed it has teamed up with microsoft sources tell us that walmart ineshlly wanted to be the lead buyer together with what was alphabet and soft bank coo and ran
Alltime high. As you can see, it closed in the red. The dow squandering a 360 gain to close down more than 100 points tesla announcing a five for one stock split. Leading todays tech losses amd, apple, microsoft, amazon all falling more than 2 guy, what is your take on this big turnaround i would have thought Something Like this would have happened weeks ago i think the reversal is interesting. Well see if it holds up tomorrow to your earlier point, i mean you saw a pretty significant reversal right around an alltime high in the s p 500 if theres one thing i would attribute it to, dont discount the fact i think its actually pretty important, the news out of the big ten cancelling their football season. Thats pretty remarkable if you think about how meaningful it is to those schools and the local economies. I think that was part of it today and i think the other part of it is the stocks have been on such a ridiculous run, it was just a matter of time before we saw a move of this magnitu
The best performing s p at the moment i have my eye on a few techish stocks this morning for different reasons. First box is up better than 5 6 , actually, after earnings an echo of what we saw from sails force. And then, tesla. That stock now well higher than 400 billion dollars in market cap. So you wonder where that one goes it has certainly been a storied stock of the market so far and then along the lines of the idea of reopening disney, trading now where it was about a month ago. The rise of skywalker came out 135 her share, dei rrrdre still down about 6. 5 lets begin with a big tech story of the day tiktok Ceo Kevin Mayer leaving the company. He said in recent weeks as a political environment has sharply changed, i have done significant reflection on what the corporate structural changes will require and what it means for the global role i signed up for. Against this backdrop, and as we expect to reach a resolution very soon, it is with a heavy heart that i want today let you al