Electoral joe bidens win is confirmed by the electoral college, but he hints he may never concede. Good morning, everyone. Welcome to bloomberg surveillance. I am Francine Lacqua here in london. It is the day after an american holiday, which saw a lot of markets closed. Cash equities open in the u. S. Because of thanksgiving. This is what i am looking at overall in the markets. Quite a lot of movement is on the portuguese 10year yield. Markets are speculating when it could go into negative territory. Today, the overall mood is a bit of caution out there. Investors, secondary valuations following a rise in equities this month but also enduring pandemic and parts of europe, oil retreating, with rising tensions within opecplus members. We will have plenty of more on that throughout the show. The stock market has a rotation into cyclical and value, by the promising vaccine, or could we see farther moves . For more on this, lets get straight to our dani burger with a look at the markets. Hi
Good tuesday morning. Welcome to squawk alley. Im Carl Quintanilla with jon fortt and Julia Boorstin on this election day markets are continuing the rally we got on monday were close to session highs right now. Dow is up 665. Best day since june 5th for the dow and s p 500. Best breadth since april 8th nasdaq and s p 500 erased their october loss, jon, as were seeing things like yields go higher as well and the dollar weaken which is another sign that some of the imbedding on emerging markets going out of this election. Yeah, carl. Looking at tech overall and particularly big tech, its interesting the gap between microsoft and amazon lagging behind apple, thats narrowing a bit. Remember, you had apple above 2 trillion in market cap and around 1. 5 trillion now thats come down apple is below 2 trillion those two are still around 1. 5 alphabet lagging all of those year to date so what is surging today tesla is up 5. 5 sales force, cisco, micron, dell, if you look at enterprise space, tho
Denny, welcome good to see you. Thank you for having me appreciate it. Weve got about a hundred s p names on the tape so far for the quarter and in tech, at least, if you strip out netflix, what has there been to complain about, really . There really hasnt so far. You know, the numbers, particularly if youre focused on companies with Long Duration competitive advantage and you would highlight over the last couple of weeks, weve seen microsoft, for example, put up exceptional numbers, as the cloud transition continues and azure continues to ramp and you know, its just amazing, if we think about the numbers there of their commercial Cloud Business, which is effectively the size of Amazon Web Services. Its a different kpocomposition, mix of business. But both of those businesses are growing 40 at 40 billion annualized its pretty remarkable numbers so, you know, a great area to continue to be in. Microsoft, you know, still trades at, you know, an evaluated but reasonable valuation. Asml pu
Interview with ceo of six flags chairman Jim Reid Anderson big show ahead in the brand new studio dagen, congratulations to us. J one of my paiflt views well one of you but radio city so a brand new desk and im wearing sweat pants. No youre not. I even have proper shoes on. Again it is like old bugs bunny cartoon with elmer fudd you have to have proper outfit or personality changes. Theres a camera over there so check out hot shoes all of the time. I didnt know that or make that mistake. This was amazing and i was out with friends last night in new york city on the Upper East Side five finance type people all say hello all big fans of you and you deserve this. Awesome congratulations. No it feels good. Just for those bigger guys i kind of like having the counter last tile i was here youre expose all the cay down you have to make sure your sues p suits fit just right. Were glad youre here focus on mummer this morning and get your take on what to expect former special counsel going befor
Help. Nvidia is the helper. Its the expediter. Its the cost saver. Nvidia allows you to get it done. Theres just one problem. Its widely misunderstood because on most days it is so hidden under so many partnerships its hard to capture what they do in a spreadsheet. They deliver productivity per share for their clients. Thats whats being bought or taught where i am out west covering the huge nvidia Gpu Technology conference hosted by ceo jensen huang. Now, theres a whole other world back east, the one that produces the summaries like the indices or dow advance 76 points, nasdaq jumped 0. 82 and went out near its closing lies. I didnt like that. Wall street we desperately want nvidia to predict the sales. Give us some metrics to allow us to figure out if its worth 3. 1 trillion or 2. 7 trillion or 1. 8 trillion like alphabet or amazon. Instead of the 2. 2 trillion its worth now. Yeah, we want jensen to tell us how nvidia will cure cancer while beating Climate Change and breaking down pla