Good Tuesday Morning welcome to squawk alley. I am Carl Quintanilla with Morgan Brennan at post nine of the new york stock exchange. Jon fortt joins us from investor day for qualcomm, first one since 2016 a lot from jon throughout the hour, including a sit down with the ceo exclusively in a few moments. We start with tech on a tear, on pace for the best year in a decade, shrugging off mixed earnings concerns. Sectors off another record close. The dow is selling off, down 120. Buyers beware. Some say were set for overbought conditions when it comes to tech. We talk more about this and the market at large. The chairman of Global Internet banking, good to have you back. Thanks for having me. How do you put the run weve seen, especially in things like semis into context whats driving it . It is amazing, nasdaq up 28 , driven by bigger cap companies, apple up over 60 , microsoft up over 40 , facebook up over 40 to add to the point, semis has been a sub sector, up 58 , driving growth other s
Housing data rebounded with Building Permits at their highest levels in 12 years we are set once again for record time close on the nasdaq anything positive, of course, is a record the s p has just dipped negative the dow has been negative for most of the afternoon. Joining us for the full first hour of the show, steve weiss from short Hill Capital Partners steve, very good to see you. How you doing . Good to see you what stands out as to whether or not were going to issee a meaningful move higher or lower . Its all about trade. Home depots announcement aside, which wasnt terrible wasnt terrible or was terrible was not terrible. And the stocks appropriately are saying, theres lots of people buying it into the earnings. And home depot, lets face it, theyve delivered remarkably over the last decade, particularly since new management came in but i dont think its really a referendum this report on the health of the consumer, which is what the market is based upon. And appropriately, were b
I told james another friday near of darya. And thank you for joining on this friday morning. It is a little gray once again to start the day. I know was out there. My wipers kicked on once or twice. Mine extra fine mist in the the wipers. But just that moist and not so cold kind of warm us, john. Yeah, its definitely a mix of all the worlds this boarded for we are looking at is similarly morning to yesterday with patchy fog. Some of us coming out a little clearer than others this morning. Your view outside at the embarcadero. Misty eyed there. Its actually kind of clear looking out there that foggy blake sitting right above. Yes. So even though some of us are definitely turning on the wipers, the time or 2, others are doing just fine. You can see visibility is being affected in a few locales, especially closer to the coastline in further north in the bay. Those are the 2 spots and watching extra close current temperatures 50s to 60s right now. Alameda oakland conquered at 62. Well, ber
The coastline and through the golden gate, most of us are sitting under nice sunshine now and temperatures are starting show some movement. San jose, youre at 70 getting close and brentwood in vacaville while still in the 50s over in timber on as well. San mateo and on up towards cloverdale as we move into the afternoon, temperatures will be right around the same as yesterday. So not a lot of changes just yet. Were going to save those changes for later on this weekend. And ill break them down for you and your forecast rain. All right, john, thank you for that. Well, we started off light. Then we got busy looks like things are light again, especially across bridges. 11 minutes meteor lights are still off at the bay bridge. So no Traffic Building at the toll plaza. 13 minutes 80 to 101 san mateo bridge. Richmond, sandra bridge about 8 minutes there. Maybe youre taking the Golden Gate Bridge right now. 37 to the tolls about 21 minutes. And lets look at our highways where were seeing that
Youre heading. Its cool 50s 60s for current temperatures. Nice way to start the morning. Good for the dog. Walk that job that you want to get out of the way warm afternoon and then the real he gets here later in this forecast, which ive got still to come rain. All right, john, thank you for it off to a friday lights start probably stay this way. But if we dont, nows a good time to get things done at 7 a and look at the bay bridge meter lights are off in traffic is freeflowing smooth sailing. However, there is an accident fremont street exit. Been watching drive times on the bay bridge and they have not gone up. So hope hes able to cruelly that off the bridge. 15 minutes. Mateo bridge, no major issues there. Your Response Center bridge nestled around 12 and the Golden Gate Bridge that a little that little line fong 20 minutes to make that drive. James, back to you. Thanks. Reyna. All right, 701, is the time of the top story this morning is the fact that the death toll has gone up in mau