A powell boost and metcoin above 11k. And snap snubs social media a blistering ped about facebook and spread of fake news. And amazons growing influence, we have an exclusive interview with andy jassy. Stocks are on track for more record high. Boosted by advancement of the tax reform bill to the senate floor. Financials obviously rallied following comments by fed chair nominee Jerome Powell at his confirmation hearing he did say bank rules are tough enough he also got bitcoin surpassing 11k, after breaking 10k about 24 hours ago, jim. Yeah, i know ill get heat on this but even if you believe in bitcoin, the velocity of the move is a sign that its parabolic and parabolic moves dont last and i know that when i look at that i say to myself, okay, if i owned it, what would i really be doing . The answer is when you have that big a gain you have to take profits. That velocity is crazy that velocity is not right. Whos buying this thing some arguments say its people in venezuela that want to
And into the fryer good thursday morning welcome to squawk alley. Were at post nine of the new york stock exchange. Dow is down 91 currently the worst drop of the year so far. The big news today though, amazon announcing the finalist for the hq2. We have details. Good morning, carl. And lets go straight to a map of the 20 contenders youll see that most of the locations, they fall in the midwest, south, and east coast of the country away from amazons current home of seattle and the west coast in general where most of the Biggest Tech Companies are. The only city from this coast, the west coast on that list is los angeles. And the only city outside the u. S. Is toronto, canada. It has tons of engineering talent close by. An interesting candidate given the current political environment. Now other contenders include cities that already have ties to amazon or jeff bezos like austin and washington, d. C. , and where he himself bought a home last year the other cities on the list like boston,
Good thursday morning. We again this morning with a round up of this normornings biggest shares report. Southwest saw rising cost for fuel we talked about this the last hour it puts a lot of pressure, especially on our competitors because they toents hadont havw cost structure we have they are a lot more exposed to increased Prices Energy prices are up 20 over the last several months. That could translate into to more capacity restraint. Meanwhile dow components caterpillar 3m helping to lift the dow. You know the cap quarter in and out. Some of these bag locklogs are rising faster than they can make the machines with General Electric we have seen better than we expected the the caterpillar call is starting right,0 now 3m was much better than expected is that profit taking a surprise why do you take properties now with expensing, full expensing now on the hoe rrizon . Such a good question. Stocks are up. Traders saying the valuation is getting a stretch here well have to see what comes
Im jon fortt along with david faber here at post nine. Carl quintanilla is cold out in minneapolis ahead of sundays super bowl let us send it out there now to carl who has more on some big guests coming up this hour carl yeah, jon minus seven this morning that will wake up. But were in a nice enclosed set here not too far from u. S. Bank stadium where the big game is coming up on sunday. Big hour obviously, well watch the markets closely. Well check in with j. J. Watt, Houston Texans linebacker about his being a finalist for the nfls man of the year. Also, about his guesses for the game and popularity of the nfl speaking of that, well check in with the chief marketing officers of pepsico north america bench and fritolay north america about the big purchases theyve made not only on halftime but the ad campaigns. The popularity of the league and how they translate that to consumers through the marketing dollars. A big show coming up all right carl, thank you. Lets get started talking abo