And what do you think of the sign of derisking . You are have seen a lot of the trade assets out there, and you have n the treasuries rallying and gold rallying and the utilities ralin inlying, an is an indication of the investors being in a defensive position. Are you better served to get to the cusp of the new highs and then you find a lot of people are playing defense again, and josh, what is going on . Well, i guess that i reject the premise that this is some of kind of a failure, because price has memory, and we have approached the old highs and we have been here four. Four times since may of 2015, and the s p 500 bumped and failed four times. That is right. So when we approach the highs again, you should expect that people who felt like they got left holding the bag buying at the levels to maybe take some off which is a little bit of the resistance and you have sellers here, and we know it already empirically, and nobody should be surprised that we are not ripping through it like
We will get their takes on all the news of the day in just a second. First lets begin with the deal of the day. That is maybe the deal of the year, really. Microsoft buying linkedin. Jon fortt joins us with more. Hey, jon. We spoke to Satya Nadella in the last hour. I asked him specifically about the value that he saw in this deal, what are the crown jewels that linkedin has to offer in this acquisition. Heres what he had to say. These professionals are using office 365 on one side and linkedin on the other side. So thats one massive opportunity for us to increase engagement in both. Think about the other side of linkedin. It is about higher market sell and learn. Thats all business process. Thats a huge opportunity for us to integrate and expand into business processes with dynamics so those are the two sides that are both crown jewels of linkedin, but really, its about putting them together with the crown jewels of microsoft, that is office 365 and our cloud, and thats whats sort of
The energy is up over the last month or three months, and that is why we are here, right . It is a big portion of why we are here, and of course, a lot of folks have mischaracterized how much the American Public would save if you have basically took a look at the gasoline, judge, and figured that you would average family consumes 600 gallons through the vehicles and so forth through the year, and gasoline prices are up a dollar from the lows, and in m some parts of the country, they are, and that is 600 in additional what would have are been savings in the year earlier in january and now the savings is it still goes up, and you buy the stocks . No, they are topping out here, and many of the oil e p plays are topping out. One of them that i added to the portfolio that i will talk about la later that has legs, but e ps is topped out. And who is on the other side . Energy itself . Yes. Nt i dont believe we are topped out for energy itself, but what has happened in the beginning is that Mo
Behind Hillary Clinton holding a fundraiser. Josh lipton is in loews all to. Reporter tim cook is hosting this fundraiser on his own accord. Cook will be joined by lisa jackson, she, of course, is apples vp of environment policy and social initiatives. For these two executives its really a way to passaic sure they have a friend in the white house if Hillary Clinton does win in november. If they can host a fundraiser that is a great way to ingrtiate themselves with a future party leader and to ensure if they have concerns legislative or other policy concerns in washington, that those concerns will get a fair hearing. So really this is all about access. About ensuring cordial relations so that they are in a position to call in this chit should the need arise. Reporter cook by helping to raise money for clinton is backing silicone valleys preferred candidate here, the Tech Industry has donated 3. 3 million to clinton through june, according to crowd pack. Trump has received just 117,000.
Welcome to squawk alley this friday morning. Kayla tausche and mike who is here to talk about a number of things, including amazon who is posting the most profitable quart quarter, and sales are up 64 to over 2. 5 billion and jeff bezos has seen the net wealth jump 6 billion in 20 minutes, and also joining us is ben schacter over at mckwor rare ri, ckwory and wt who said that if you want to beat margins quarter to quarter, it is best to go somewhere else, because it is hard to know who is going to come out better than expected. Yes, and they will come out once in a while, and then say, hey, we have insanely profitable businesses, including aws which is this Sleeping Giant that everyone is sort of woke up to last year when they started to show it off. It is really, you know, they prove, and it has taken a long time the train the street to let amazon do this sort of thing, but now it is seeming that they are fine to do it. And ben, what surprise d me s that everything outside of aws, and