Good morning welcome to squawk box. Im becky quick with Andrew Ross Sorkin and joe kernen. Welcome back both of you some big moves we are looking at today. Lets look where things stand with the markets dow futures are off by 34. The big news is happening with technology stocks. Down 343 points. Thats big you are talking 3 of the market or 3 decline for the index. Thats a big deal when you look at what happened last week on thursday, nasdaq was off 5 on friday, another one and a quarter percent. You are taurking 6 and a quarter decline. Because of what is happening with the biggest stocks in that. Tesla indicated down 11 in the premarket Asml Holdings down nvidia down advanced microoff off 4 . Those that have boosted that weve seen selling off today you are still looking with these declines at a market at higher levels weve run up quickly and we are seeing it now joe. Watching it head higher watching it ever day, we are like this tech stuff is insane benefitting from what we are all liv
July 21, 2020. Before we begin with this item on maf o behalf of my fellow commissioners we approved to help equity resolution declari declaringit was based by the Human Rights Commission during their june 25th meeting. Ours had the addition of some resolved statements that were tailored to health and programs. On behalf of my fellow commissioners i want to acknowledge the critical work of the commission and their staff along with members of the Community Group mega black sf. And develop the resolution of the same name that was approved of the commission and all the hard work and energy they put in to creating that resolution. The commission is very proud of the resolution that contains some measurable outcomes to achieve equity and combatant eye black racism. It was apparent that there were some issues with respect to the development of the resolution and the process by which the commission approached the discussion of this item. Last week the secretary and Staff Department of Public
Pick and we will see how she works out. Chris we will get reaction to the bidenharris ticket from somtrump Campaign Senior advisor chris as we said, this weeks Virtual Convention will steve cortes buried end. Be different than any weve ever ive directed the secretary of the treasury to send direct seen. Theres been a marriage of Party Conventions in television for payments, 3,400, for a family of more than six decades now. Four, to all americans. Democrats are holding this up. The big speeches and funny hats and balloon drops have produced a great show and provided some perhaps you mistook them for someone who gave a damn. Indelible moments in our chris we will ask a panel politics. And for much of the action, ive about the continuing stalemate of a Coronavirus Relief package. Been lucky to enjoy a front row plus our power players of the seat. Week. The hope still lives in the the Democratic Party assembled for its National Dream shall never die. Chris a look back at Great Convention a
The simultaneous listing could bring evaluation of 225 billion dollars and may raise more than aramcos record sale. Day twot lady headlines of the republican convention. The theme is the land of opportunity as Melania Trump makes the case for her husband winning four more years. Working news at the moment. We are getting confirmation that the u. S. Business will be charged in a generic drug pricefixing probe. This coming from the department of justice, saying the Pharmaceuticals Company was charged for its role in a saying teslas u. S. U. S. Mers tevas consumers were charged 350 million. It was charged for conspiracy including landmark and glen tech. Nd apple it is falling more than 4 in postmarket trading. Teva pharmaceuticals being charged with conspiring to raise prices for generic drugs. This is after years of pricefixing in the generic drug market. The doj saying it is the seventh company to be charged with generic drug pricefixing. Teva was charged for pricefixing. You can see th
Pattern meeting globally at the jackson hole symposium shares in wpp jump as the worlds biggest advertising slump. Tiktoks ceo quits quiting a changing political environment after actions to ban the video app. We are tracking the hurricane laura after the storm made land fall in louisiana with a 20foot storm surge. Crude was cut ahead of the storm. Just incredible when you talk about 20 feet and the language thats been mentioned. That most of the parish could be under water and the word unsurvivable has been used some of the houses are built on stilts particularly on the texas coastline. The oil industry has been interesting. 90 shut down similar to katrina. Mostly brent that is picking up the action matched against these concerns has been the covid19 impact that has tracked the reaction in the range so you wont see the impact close to 46 on brent prices and just above 43 this morning. Not getting any traction in the read Nbcs Jay Gray from the gulf coast. The most powerful storm on th