Bill gates weighed in earlier. I think over time the tech world is naturally very, very competitive. Im not saying that the authorities have to be totally l laze fair, but they will have to come into the space. It is 2020, folks, bill gates weighing in on other people es antitrust issues. That is weird for me to see them talking about it i think he love its, this is the time of his life i also think, and i wonder your thoughts on this. Were in an environment where too many people are pointing fingering at big tech for what are government shortcomings. It is like blaming Car Companies for polluting when you dont have emission standards a or you have not creating the epa yet. Thats right i think it has not been a focus for a long time this is the first time in 50 years and congress has not been paying attention to this or this industry which has Network Effects and scaling effects. This a pretty good turning point. Were talking about this being heat on big tech, but this should be heat o
Cash trade is less than an hour away. Here are your top headlines. Republicans unveil a 1 trillion aid package to bolster the u. S. Economy. More direct payments to americans and Liability Protection for businesses. Keeping the borders close. Bloomberg learns the eu is set barriers to travelers outside the block amid rising virus infection rates in spain and germany. Plus, better than bad expectations. Michelin reports operating profit at the highend of estimates despite swinging to a net loss. The delivery here was one of the big delivery hero is one of the big winners. Dont miss our interviews in this program today. We are seeing the ecb, breaking news. The ecb asking european banks to freeze dividends. You can always get the latest ecb headlines on your terminal. Type ecb go for a great dashboard. The ecb is saying it wants european banks to freeze dividends for the rest of 2020. The remaining four months of the is saying ite ecb least not pay at dividends until january 2021. There
Ed, welcome back. Thank you very much youve been bullish for a while and now youre acting on it why was now the time i had concerns that the market would have some concerns about the pandemic, that we did obviously see somes increase in the outbreaks down in the sunbelt, but the market the tenyear has been below 1 you know, there is no alternative, probably never been more relevant than it has been since the fed adopted what i call qeforever on march 23rd. You have what you call a meltup in the market, but you say as you have more of this melt up, you increase the risk of a meltdown. How does that factor into your broader view well, you know, its one thing to be bullish, but at the same time you have to be aware of where the down side risks are. To the extent that the market has a melt up, it puts more air between stock prices and earnings in other words, the valuation multiple has been on fire. We had a p. E. Led meltup from 4. 9 on a forward p. E. Basis on march 23rd now were over 22
Scandal. Government buildings are being targeted. 2020 race with less than 100 days to go to election day, major Bernie Sanders supporters say they cannot get behind former Vice President joe biden, former United Nations Ambassador Nikki Haley will join me on more on 2020 race. Bringing critical supply chain back to america. Assistant to the president for trade and manufacturing, pete navarro with big announcement coming up plus latest tensions with china. Folks on earnings this morning, we will hear from 3m, mcdonalds. Jetblue among the names reporting before the name this morning. Futures searching for firm direction, we are expecting decline at start of trading, dow futures down 75, nasdaq down 40 and the s p lower by 8 and 3 quarters. U. S. Markets kicked off the week with gains yesterday finishing with near session highs as vaccine trials moving forward. Dow industrials up 115 points and nasdaq up 173 and s p higher as well, covid19 slamming the sports world meanwhile days into th
Oil, 41. 40 we talked for a long time about mike pences hawkish speech on china from a year or two ago but pompeo yesterday oneupped that and this consulate news from china is weighing on sentiment too. Yeah, he upped the ante jim did focus us at the time on Vice President pences speech because it was quite truck lant would be a word to describe it at the time but it continues to go up in terms of the tensions, carl weve talked about it pretty much every day, whether its a backandforth over huawei, whether it has to do with conversations about closing down the app tiktok in the United States, whether it is the closing of consulates here and the response from the chinese. This is not going in a direction that many, who at least are invested in the idea of global trade, certainly, mike, would wanting to see. For sure. On the one hand the market is not necessarily overly focused to this point on these relationships and not really counting on anything to come out of it. Its not quite like