week for big tech. plus a pre halloween treat as the us economy returns to growth. but inflation s still a nightmare for president biden with midterm elections looming. we start with the world s richest man: billionaire boss of tesla space entrepreneur and now the new owner of twitter. elon musk has now closed his $41; billion takeover of the social media giant ahead of a 5pm deadline set by a us court. and he has moved quickly to sack the company s senior management. it brings to an end a six month long and often bad tempered takeover battle that has raised some big questions about the future of the company. from san francisco here s our technology correspondent james clayton. when elon musk had an offer to buy a twitter accepted in april, he could barely conceal his excitement. but that initial enthusiasm soon began to wane. tech stocks were plummeting and many wondered whether he d paid too much for twitter. mr musk also claimed that twitter was filled with fake
Weather pattern could mean for commodity prices. And the end of the dreaded annual performance review. Why it is now falling out of favor at so many more u. S. Companies. First, though, lets check in and welcome sarah eisen. Hi, sarah . Hi, tailer. Well begin the show with the housing market, Home Building rising to the highest level since 2007, a key measure of future construction plunged. Diana joinings us live from washington with all the numbers and back numbers. This is stocked full of contradictions. Single Housing Starts took a nice move up, nearly 13 for the month. Multifamily down 17 . Look at the big picture from whens we came. Single family construction is 25 below the 30year average. Multifamily is trying to make up for a decade of underbuilding. The Single Family construction surge in july much needed, yes. And it plays into the home depot numbers that were so stellar. Even when people buy new, they fix it up to their own liking. Some say the retailer needs to play to prof
Oh, snap, oh, oh good morning and welcome to Worldwide Exchange on cnbc im sara eisen. Good morning from me as well. Lets check in on Global Markets, show you what Global Equities are doing after the nasdaq outperformed the three major averages, which were little changed, though you did see big moves, lower for instance in retailers. Walmart was the biggest drag on the dow yesterday. Prime day kicked off last night. Well get to that in a moment. Dow futures are higher, though s p futures are little changed, down less than half a point. And nasdaq futures are down about five points. As for the 10year treasury note yield, lets show you where we stand. We had yields come off recent highs yesterday, though not meaningfully, and were still sitting below 2. 40 on the 10year yield. Still multiyear highs. Yields moving up again today. Seemed like yesterday in europe it was single day of yields slipping a little bit. Data out of asia car sales returned to growth in june with total vehicle sales
Like caterpillar, ibm and walmart. Check out gopro, twitter and 3d systems catching the bid here. Is this the dash for trash. Do you buy the trashing names into the end of the year. Guy, what do you say. This is a quick trade. Whole foods markets up huge. Abercrombie and fitch off a huge move up again today. So is there still room on the upside . Probably yeah, because the shorts are still covering and people absolutely chase. But these names have been beaten up for a reason. And the cream rises to the top and the opposite is true as well. They will come back to earth. Specifically ibm. I think abercrombie and fitch is getting toward levels you want to pull the rip cord as well. And you cant fade this. Because day like tomorrow, light volume, buyers typically have their way, they will have their way tomorrow. It was light volume today. You pointed out that, dan. Low volume. Since the day after thanksgiving. We know the market or stocks had pressure, poorly performing in this month. And
The m astrategy at strategy. How to get your Business Customer who is runoff to write your document . This is microsoft going after playing catchup, which is putting their office suite on your ipad. You can look at it, but if you pay to use it, you have to 99. How much of this is catchup, how much of that is statement. Putting the product out to the market, sharing the scene with apple. It does take some big steps. Lets not decry the fact that ballmer was working like mad on this project. It just didnt he didnt get it to market before his departure. Of course were watching the italian banks. Yesterday we had results from the fed. The time, the french, spanish ones. This is by the way italys secondbiggest bank. It posted a 5. 2 billion euro fourthquarter loss. Investors are saying that this means theyre cleaning up their Balance Sheet paired they will be in a much better place in just a couple of months from now. The chief executive who replace the previous one in september is trying is