Just how high can the great firewall in china really go . But first, to our top story, the u. S. Government is increasing its scrutiny of big Tech Companies. On top of the department of justice and federal trade commission dividing oversight for possible probes into google, facebook, apple, and amazon, the house judiciary says it will spearhead its own investigation into possible antitrust practices. House lawmakers plan to hold hearings on the matter, a move endorsed by House Majority leader nancy pelosi, who had this warning. Unwarranted, concentrated power in the hands of a few is dangerous to democracy, especially when digital platforms control content. The era of selfregulation is over. Joining me to discuss is our bloomberg tech correspondent. What is the latest Development Today in all of these potential or actual investigations . The only sort of publicly confirmed new investigation is the one you mentioned coming out of congress. The doj and ftc have not even confirmed reporti
Will Congress Finally take action . First, shares of broadcom are tumbling after the chipmaker cut its fullyear revenue outlook. The outlook will be 22 billion in 2019, missing even the lowest analysts estimate. That also reported revenues that missed project since as it continues missed projections as it continues amid the chinau. S. Trade war. Huawei, accounting for 3. 5 of sales, is also a major supplier of chips to apple. Aey said we currently see slowdown in the demand environment, which we believe is driven by continued geopolitical uncertainties as well as the effects of export restrictions on one of our largest customers. Joining us to discuss his ian king with me here on set. Is ian king with me here on set. How much does this have to do , in huawei and china particular and at large . This Global Supply chain, even stuff they are selling that is not going into the china market and staying there is coming here am going to europe. Am going to europe. And going to europe. By the
Produce their goods here at a very reasonable price , the machinery that is imported is exempt from any taxes, and the Raw Materials and technology that the loved ones can exchange, and we are actually a connecting point between knowledgebased companies. And the Big Companies of the world, the spokesman of the anti trafficking headquarters from promulgating an article of the law. In the near future, he announced that he will provide an executive guarantee to deal with smuggled clothing, according to mr. Dehghannia , in an interview, note four of article 18 of the law on combating smuggling of goods in the field of clothing, which will bring an executive guarantee to identify clothing before the end of the year. Will be notified. In july of this year , the general director of the Garment Industry office of the ministry of Mining Industry and trade cited the nonapproval of a legal provision as the reason for the implementation. Executive guarantee or executive agent of this approval of n
Higher than expected. Plus tesla shares, well, they continue to have a very rocky ride this year. In fact, they are the worstperforming stocks so far on the s p for 2024. Another firm cuts their price target on that stock. And former treasury secretary Steven Mnuchin telling cnbc just last hour that he is putting together an Investor Group to try to buy tiktok or the u. S. Business of tiktok. Lets begin with the Market Reaction to ppi and retail sales as well. Last months decline, a little bit tight. As you mentioned, the market trying to look past it, struggling to do so, maybe. Cpi this week, you had these big treasury auctions that maybe we thought it would knock the market potentially off course. Now, there was a hiccup lower in the indexes, and bonds definitely are registering this hotterthanexpected inflation number. Tenyear up to 4. 22 . If this were an acutely feddependent stock market, it might matter more on a daytoday basis to equities. Its not been the case. If you dial bac
Highs. If you look at what is happening with the treasury market, this is the one to watch as we get the cpi later this morning. Yields are lower. Tenyear yield at 4. 09. Twoyear yield at 4. 53 . If you have been watching the price of gold, that has hit a new high yesterday. Bitcoin is flat. Just below 7 72,000. Lets talk about the concerns at boeing. Faa saying during the audit, it found multiple instances, many, in which boeing and Spirit Aerosystems failed requirements. Now the report is revealing details of the issues citing materials from the slide presentation that it reviewed on it. Reports said boeing failed 33 of the 89 audits that looked at aspects of the production process. Spirit aerosystems failed 7 of 13 such audits. At one point, the faa observed mechanics using a Hotel Key Card to check a door seal. It showed mechanics applying a liquid dawn soap to the door as a lubricant and cleaning with a cheese cloth. When asked if these were appro appropriate, the representative s