Good morning warm welcome to Worldwide Exchange on cnbc. Im wilfred frost. Im court couney reagan in f sara pleasure to have you with us. We did see declines yesterday of about a half percent across all three of the major averages. Today we are bouncing back a bit. The dow up by 20 points or so. Worth noting that all 11 sectors of the s p were lower yesterday. A broad selloff. Telcos taking the brunt, down more than 2 tenyear treasury note above 2. 4 this week if we have a look at it this morning, its still year yields slipped a bit 2. 44 yesterday 2. 42 today. Looking at whats going on overseas asian equities mixed overnight we saw mixed market in china south korea down a half percent. Shanghai up about a third of a percent. And we saw in japan the nikkei led by financials and automakers the messaging service line up 17 on earnings. That was one i wanted to point out. We also got data out of south korea where the gdp grew 1. 4 in the Third Quarter. Thats the fastest pace in seven year
Those big techs heavily owned and closely followed pete, especially on this desk you own microsoft and intel calls. You have a big idea of where you think this space could go next. Right ive been talking about the value prospect of this entire group for a long time, but its not about value, its also about growth if you look at the growth aspect of intel, look at the acquisitions they have made. They have continued to grow themselves into a. I. , all the different areas of growth. Thats what they have needed to do they have done a great job of executing on that. And we said the day he was hired at microsoft, its time to own this stock once again. That stock was 35 now youre talking about nearly an 80 stock why . Because this guy actually had the Vision Forward to say, you know what, the growth is in the cloud. Thats what microsoft is going to become. Thats why tech is working, because they didnt just stay old tech they have gone to the next level and they have found growth. Joe, this is
Highs on the s p 500. We do not want to count that out just yet. Made one 2575 level we friday. The nasdaq up more than 2 , the nasdaq 100 up almost 3 . Amazon, microsoft, facebook, google, apple all the names we know that are driving it higher. Lets dig into a few of these. I want to focus on microsoft and amazon. Microsoft serving to a record after a quarter beat on revenue. Dumping jumping by doubledigit. About the pivot to Cloud Computing and ai. Similar with amazon. Doubledigit revenue, 34 in this quarter. A smooth transition with that whole foods business. Like scarlet said, going into some of the pharmaceuticals, getting a license there in 12 states. We are watching that. Lets put this into perspective here. We have been talking a lot about techech sectors sectors outperformance. It is outperforming by about 15 here next to the number two, the health care index. Spreads there are certainly widening today as the Health Care Sector is down again, and the tech sector higher and hig
The uncertified inspection scandal. They say the u. S. Market will be critical. Yvonne markets seem to like the dealmaking that could be happening in asia. The donald trump a visit we have been calling it in the region, gone pretty smoothly so far. The state visit in china, they havent rolled out the red carpet, the chinese opera. It seems this relationship between president xi and trump has softened more. We will talk about the deals we are expecting. Betty 250 billion worth. A common theme that we are hearing from many of our guests is, the real work is going to happen afterwards. It is nice to see the pomp and circumstance. But really, the real work, the nittygritty will happen after the niceties and handshakes are finished. Lets get the first word news with courtney collins. U. S. Tax changes move a step forward thursday. The Senate Finance committee scheduled to release its proposal. Republicans plans outline the bill with gop colleagues after facing criticism from inside and outs
Good winks morning, welcome to squawk alley, cart qui ca quintanilla with jon fortt stocks off the lows, down triple digits a few moments ago on the session. Watching to see if this dip gets bought in the middle of the day. For that lets get to bob. Still down, off the lows, s p up 10 points from the open lets look at the sector, still defensive but moving to the upside banks a big down open but you can see they have moved in positive territory, telecom only sector on the upid. Cyclicals on the weak side weve been talking about slowdown in the Global Markets in the last six or seven trading sessions europe on the downside, stock 600, s p of europe nikkei, s p down 1 since november 6th russell 2,000. Weve been talking about high yield always weak point. We asked our friends what happens when high yields declines 4 in a month were not down there that far yet. The high yield index, those etfs declined 4 . Usually follows them about were not there yet. This is a good indication high yield