Somewhere in the world this is the daily social distancing show with trevor noah. Trevor right now the coronavirus is giving us good and bad news, like getting laid at the family reunion. Lets get straight to the bad news. Were passing a staggering 10 million covid 19 infections, the highest in any nation. Past week, 74 americans were diagnosed every minute. Countries across europe are struggling to keep covid 19 at bay. France has reported its highly daily death toll since the start of the second wave, and the weekly death toll in england and wales has jumped by 41 , sur surpassing 1,000 for the first time in june. In utah overcrowding intensive care units forcing the governor to declare a new state of emergency. I am placing the entire state of utah under a mask mandate until further notice. Trevor thats right. Corona is blowing up in europe and america again. In fact, its rampaging across the western world so hard that scientists have had to invent new shades of red for the covid ma
And your comments a moment ago to andrew, just sort of crystallize, not just what a job shes done, but how companies are placing their bets on looking through cycles, even though were a week away from an election and in the middle of a pandemic. You have somebody the quality of lease why isa su, best ceo i country, nonpromotional, re competitive thought this was maxed out. Youre in the personal computer and data center, it is not good enough she saw what happened to intel i dont say that with any prejudice. Just that she left intel behind. She is in the data center, who is she who are her clients . Azure, google, and, of course, amazon but it is time she feels it is time to branch out into auto, time to branch out into defense into telco when you look at xilinx, what youre seeing is a mosaic where there is some overlap in data center, but the rest is an attempt to say, you know what, we need a bigger total Addressable Market we have to outgrow our markets right now. And i think it is a
Onwelcome all of you Bloomberg Radio across this nation and bloomberg television. Extraordinary Market Action yesterday, truly historic. We will get to that in just a moment with someone who has a wonderful test but a wonderful tapestry of the history of the market. First weve got to get to the news flow. Are we still doing election 2020, or have we moved on from that . Jonathan i think it may come back on the agenda, but today is as yesterday once again, just a little flavor of mondays price action. You will find it in names like amc entertainment, and the airlines. You will find it at the index level. The relative performance of the russell versus the nasdaq continues. You could drive a truck through it this morning. Russell futures are up by about 1. 6 . Nasdaq futures are negative on the session. Cyclicality starting to come back into this market. Youve got to ask yourself where the risk is in this market, and the risk for many people in this market is where people thought was safe
Tech stocks underperforming today, pulling back more of mondays gains or giving up mondays gains, i should say, still on pace for a positive week 59 minutes left of the session, exactly down. 5 , sarah. Weve got a big lineup coming your way National Economic Council Director larry kudlow will join us to talk about the stimulus negotiations and any Economic Impact there. John shrewsberry of wells fargo will be with us and well talk to David Malpass and the race to fund Vaccine Development around the world. First off, though, lets get straight to the big stories were watching mike santoli is watching the market pullback. Rick santelli has the bond report but lets start with mike santoli. Big tech and momentum growth that have been running pretty hotly. This modest payback mode for the prior few weeks. Lows for today were right exactly where the s p closed on friday essentially made this roundtrip a couple of times, trying to bounce off of them yes, if you look at energy, look at pure val
Million. And beyond meat, those shares are down sharply amid slowing sales, while mcdonalds launches a new plantbased product line carl well get to that later, guys first, jim, a lot to unpack with the covid cases, pfizer news, lilly news today, azar on squawk saying the timeline for a vaccine delivery is getting pretty specific now. Right look, were back in that same world and i listened to the fund manager speak on squawk, got to buy value and sell growth where were they yesterday whenle have you went from being okay to being overvalued in about a threehour session i find that when i look at some of the stocks that i like in the industrials, they have gone so far that i think now everything has to happen right and these arent going to happen righting. They are hostage to earnings Cloud Computing stocks, they have a lot of room to go down because theyre so high. When you look at faang, for instance, does it make it so alphabet is worth less the principle method of how alphabet makes i