Good friday morning. Welcome to squawk alley with Morgan Brennan and jon fortt at post 9 of the New York Stock Exchange obviously watching these markets here dow is down 331 after yesterday, deep in the red. The dow, the s p, and the nasdaq are all on pace for their worst week of 2019 tech names getting hit pretty hard, apple, alphabet, facebook, intel all down around 2 , guys this is a period in which trade concerns might result in selling thats a little more indiscriminate than weve seen in recent months and among the tech names, a look at cisco thats down closer to 4 . Some other cloud names not doing so well. You see, dell is down more than that you know, Network Appliance well, that one has its own issues but certainly, hp down 5. 5 a lot of these trade issues rippling through not just the names that have higher valuations or have high flyers, but some of these core enterprise tech names, vm is another onedown almost 8 in this trade if you look at all the major averages, were now
Prove it this is going to stick around then maybe ill invest in it myself. I think we have early adopters. We call them lowhanging fruit and people that are more cautious and thats fine. They have to be around it. They have to experience it and taste it and feel it themselves then we have people who are no matter what you say, its going to feel like we are giving special attention to some people and not others because they have trauma. And we have to work on that. So we have to it is a horizontal approach but its bottomtoop. I think the 2pointal , theyre the people that have a hard time trusting that we mean what we say. There is no funding. Were doing it from the inside out. Its not like were going to lose funding. Were doing it. This is not costing a lot of money to the department. Were not relying on external grants or consultants or anybody coming in from different parts of the droin. Were doing it ourselves. No matter who leaders are, we want to create the change and embed it into
Questions . Roll call commissioner president adams commissioner Vice President brandon commissioner kounalakis and commissioner woo ho. Item 2 approval of the minutes for the april 2016. 2013 opposed . Inclusive session any Public Comment seeing none, Public Comment is closed. Collective session. All in favor, say i. I. Motion motion second all in favor, say i. I. Opposed . Were in executi congratulations. I move to call the meeting to order. Second. All in favor, say i. I. Opposed . Meeting is in order. I move not to disclose anything discussions in session. Second. All in favor, say i. I. Opposed . Next order pledge of allegiance of the United States of america and to the republic for which it stands, one nation under god, indivisible, with liberty and justice for all. Please be advised the ringing of and use of cell phones, pagers and similar soundproducing Electronic Devices are prohibited at this meeting. Are prohibited at this meeting. The ringing or use of a cell phone, pager, o
I. Opposed . Were in executi congratulations. I move to call the meeting to order. Second. All in favor, say i. I. Opposed . Meeting is in order. I move not to disclose anything discussions in session. Second. All in favor, say i. I. Opposed . Next order pledge of allegiance of the United States of america and to the republic for which it stands, one nation under god, indivisible, with liberty and justice for all. Please be advised the ringing of and use of cell phones, pagers and similar soundproducing Electronic Devices are prohibited at this meeting. Are prohibited at this meeting. The ringing or use of a cell phone, pager, or other similar soundproducing Electronic Devices. Please be advised members of the public has up to 3 maintenance for each agenda item unless the Port Commission adopts a shorter air item 8 items not listened on the items on the agenda Public Comment is closed. Next item, please. Item 9 a executive directors report gm good afternoon commissioner president adams
Today. Our road map begins with priceline. Shares falling what is driving the stock down . An 8. 5 billion deal creating a timber giant. And are big changes ahead at yahoo . Stocks make it a lucky seven. The three major indices in the midst of a winning streak. Small caps posted strong gains last week with the russell up 3. 25 percent. Jim, exports down 6. 9 in china, double the estimate. The consumer, this is what were focused on. Weve got singles day coming up. I think that will be the biggest day ever. Theres a propensity to recognize that maybe the government did the right thing by focusing on the consumer. The bulk rate shouwed you nothig will happen there. Theyre spending. Wage rates have gone up dramatically the last few years. Well above mexico. In china youre saying. Twice of what mexico is. They talk about 270 Million People in the middle class, theyre going 540 Million People over the next ten years. The numberses are incredible when you think about it in terms of where they