Buy the cyclical stocks. On a day the market got hammered, nasdaq declining just. 06 lets remember what actually took us to these record levels in the first place because those stocks are still the best in jump you know what i am talking about. Talking about a termite coin i am talking about faang yeah, faang, facebook, apple, netflix and google these stocks gone out of style on the wall street fashion show. Smart money keeps telling me to get out of these small stocks and into the russell 2,000 they want you to forget faang and big on everything better with the vaccine there is some stocks that become a lot less attractive when the world goes back to normal. Oh, but not faang. These companies are living and breathing organisms. They are so powerful theyre not connecting to the economic win theyre in charge of their domestici desti destiny. They dont care whos in the white house. It put a target back while zuckerberg fights the government, it would be better if he didnt have to so they
Another day of dragged on stimulus talks, john. Intel not a small factor in the trade. When i think of volatile tech stocks, i tend not to think about intel. Look that two year chart ups and downs. Its like an obstacle course, a tough mudder or something. Last quarter, it was about the supply side and intels manufacturing. This quarter the surprise was more around demand and the extent to which enterprise and government just isnt buying in the data center. Cloud picking up the slack that has an impact on margins. Of course, we have the pc stuff going on which is largely a tail wind they havent for a long time but theyre not buying them in the enterprise as we would expect people are not in the workplace. People are adjusting the way they work. That does have an impact on intel. A lot of balls in the air here this volatility predated, bob swan particularly on that manufacturing side but now hes got all of these other things to deal with as well investors looking for clarity around what
Good tuesday morning, welcome to squawk alley. Im Carl Quintanilla with jon fortt and Julia Boorstin with us dow because up 275 this morning. We lost some of that the covid19 vaccine rotation is continuing with tech down another 2 today and the s p 500 down 26 points thats where well begin this morning. The nasdaq falls investors rotating out of tech to some degree the managing director is going to help us start off the hour. Good morning, mark good to see you. The. Hey, carl, good to see you. We know i mean, the argument has been made that world changed a little bit yesterday for the better but is the tech reaction is there bath water being thrown out too . Well, yeah. The world did change id argue a lot yesterday. And not surprising that were seeing a rotation in some of the tech names i think for the next little while here, you know, expect the expected were going to think continue to see some rotation away from the work from home names probably bate probably a bit of a short term r
Most to them and their families. Well look at one of the crucial demographics for President Trumps chances of reelection. Stay tune, we have fox Business Team coverage, Jackie Deangelis in our new york newsroom, blake burman standing by at the white house which is where we begin. Blake. Reporter connell there was another phone call between treasury secretary Steve Mnuchin and speaker of the house nancy pelosi to go over at least the hopes of trying to put together another covid relief package. We can tell you it lasted about an hour. They exchanged language on proposals. Were told there is expected to be another phone call tomorrow. This is the readout afterward at least from the side of the speaker of the house that they continue to say there are big gaps that remain. Deputy chief of staff for nancy pelosi tweeting the following saying, quote, one major area of disagreement continues to be that the white house lacks an understanding of the need for a National Strategic testing plan. T
Contributor. What do we look out for . Spin is the only substantive issue to discuss with respect to this debate, but theres a Closing Argument to be made here by both President Trump and joe biden. Joes Closing Arguments have been about coronavirus. We see spiking in the midwest, and globally a worsening of the situation. Donald trump has chosen to tackle issues such as hunter biden and corruption within the biden family, which is a repeat of his Closing Arguments against Hillary Clinton in 2016. We will see if they have the same impact. Americans have already voted. Why will tonight move the dial . Rick well, it moved the dial in the first debate a bit. No question, the polling taken after the first president ial debate had biden consolidating his lead in almost all of the battleground states and nationally. Some of that has been given back to the field. Donald trump has improved since then. His numbers in states like pennsylvania and a little bit nationally. We know that people are