Cramer, faber is off president is in wisconsin, surp positive, yields tick up on decent core ppi. Tech stocks taking a tumble. Treasury is out with its plan to loosen Bank Regulations and is the worst over for under armour . The stock having a nice bounce after the warriors take the title. First up, tech stocks looking to rebound from their worst twoday streak of the year jim looking at some of the percentage declines for fang, somewhere in the 4 to 5 range. What happened is you didnt get followthrough other than the negative apple you got a downgrade of adobe that lasted for about 30 seconds. There were no substantive calls and by the way no preannouncements that these great tech selloffs that weve had there usually is a linkedin tableau data, upgraded today by goldman. Theres something to hangon to which says tech has slowed down but we didnt get that, which made it so it was more of an air pocket than it was the beginning of some gigantic rollover. Just didnt get it i was looking fo
And im melissa lee coming to you live from the emerge conference here in miami it is the tech event of the americas with us on the today ai social media navigating the tech world right now cofounder weighs in move over Silicon Valley and alley for that matter. Why miami may be becoming the next hightech zone. Welcome im becky quick. Lets take a look at how markets are trading now. Green arrows with the dow hitting an alltime interday high the dow up 82 points s p up by ten points the nasdaq up by about 40 points by the way, nasdaq is up for the first time in just three sessions after some rough days apple, netflix, amazon and facebook are all trading higher and materials are the second best performers today led by cf industries, Martin Marietta and sherwin willia williams ron barron striking an optimistic tone this morning about markets and the economy. With lower are Interest Rates than we think and Lower Oil Prices than we think, we think the economy will grow much faster than it wou
Nike on a downgrade from jpmorgan after those layoffs yesterday. Apple getting serious on content hiring two big time executives from sony. Well go live to miami ahead of the president s expected announcement on cuba this afternoon. We are getting some breaking news on whole foods. Holy cow. I heard you gasp just now. This is such a game changer amazon to buy whole foods. You know yesterday was a day for kroger that was tough today will be an even tougher day. This is a game changer this is it this is what everybody thought could happen they will now dominate food within the next two years. Wow. Just yesterday we were reading a piece in texas monthly, john mackey, basically going after activists saying theyre not interested in the long term. More interested in the short term stock was halted i would say about four or five minutes ago for news pending but this this is wow. A day well remember for a long time. Yes, we will. I guess mackie had enough of them hes one tough hes a tough guy,
Good Tuesday Morning were at post nine at the new york stock exchange. Joining us from palo alto, roger mackname ceos meeting with the president yesterday. Research, immigration policy, modernizing Government Operations here some sound from bezos i think it will be impossible to overstate this is that the United States needs to in every way at every level be working on Machine Learning and Artificial Intelligence and that can be used in every part of government to improve the services that government provides to citizens all right roger, i have to get your take on what you think was about. Your read of the body language and all the optics but more importantly, what happens now as some of these conversations continue between the valley and the white house so i think the core thing, carl, is that the agenda of the day really looked like it was about secretary tsecretary the groundwork for privatizing a lot of Government Services wlchlt you think thats a good idea or bad idea, i think tha
Series planet of the apps to talk about this move lower today for snap and in general back down to the ipo price. A lot to talk about with jeremy liew. And bitcoin investments. Hes hot on bitcoin right now. A lot of that coming up in a bit. Plus, alibaba is hold be an avent to attract u. S. Entrepreneurs. The vice chair of the company joe tsa i will join us for an exclusive interview with david faber to talk about that strategy the latest now out of washington and theres been plenty of House Speaker ryan, are you saw that speaking to cnbc last hour about tax reform heres what he told Brian Sullivan when he asked him if he would support a push for a 15 Corporate Tax rate. I would love it if we could get the numbers to make it work. Do you think you can . Im all for it, something thats actually possible were going to spend all summer long drafting and getting what we call scores, getting the numbers to work. We being the house tax writers, the senate tax writers and the white house and t