Hes here in a fox business exclusive about this new bacteria. The covid19 lockdowns forced many to whip out the credit card and buy essentials online. A publicly traded company is making all those transactions work. The incoming ceo is a wall street veteran who survived 9 11, the financial crisis and now the pandemic. He will tell us what he saw in early january that told him get the employees to work from home and out of a crowded business area. That was well before just about every u. S. Company had even heard of covid19. Charlie breaks it on the big name Trading Companies refusing to sign on the dotted waiver line that the nyse requires to walk on to the Trading Floor. And 24 hours before the dragon capsule roars into space. Less than an hour til the closing bell, lets start the claman countdown. Liz breaking news. They are testing the systems right now. We are just over 24 hours away from history as spacex prepares to become the first commercial Space Company to launch american ast
For the highlyanticipated rate cut. Tech sold out. The nasdaq hitting a record high before reversing lower as big tech is under fire the white house is hosting a summit targeting social media giants can tech rally in the face of the major headwinds or is the group handcuffed so many options as to where to go guy, what do you say first of all, this is unbelievable actually no. It was years ago it is interesting that, you know, billy joel, great artist and you played potentially his worst song. I knew you would say that. Thank you. Up town girl. Excellent point. Terrible song. With that said, can you still buy tech here . I think theres still an inch you can buy. Facebook, if thats technology, will rally in energy i think on microsoft, thats fine lets look at micron real quick because i think it is where the battle line is being drawn that stock was at 32 on june 25th when they reported earnings, and the stock has rallied probably 30 since then you sort of break down the earnings guess w
Month and the quarter, lets head over to the markets desk where Bloombergs Julie Hyman is there. Julie it has been an eventful quarter, the shaped quarter with stocks falling initially through midfebruary and then rebounding sharply through now. At the moment, the s p and the to little change, the dow the down side, yeartodate, as we now the s p and dow have solidified their gains of the s p getting a little closer to 1 gain, the nasdaq remains the lag guardian the year even as large cap tech has been part of the rebound story thus far. Look at the monthly performance, this looks at the monthly performance of the s p 500. Were looking at the biggest monthly jump since october, but also the second largest month that we have seen going back to the end of 2011. This magnitude of an increase is relatively unusual. Now, that said, the increase that we have seen in stocks has been on relatively low volume and, of course, on very low volatility. We heard talk of that in the last hour. The yea
U. S. Treasury department has issued a new notice designed to limit the tax benefits of tax inversions. Those are corporate transactions which Companies Inside the United States rebrand themselves and rehead quarter outside the United States for tax purposes. Officials saying in a Conference Call they feel a need to protect the u. S. Tax base. They are now taking additional actions today in order to help do that. Here is what they say they are going to do. The meat of the proposal is limiting the ability of u. S. Companies to combine with foreign entities using a new foreign parent located in a third country, limiting the ability of u. S. Companies to inflate the new foreign parents corporation size, and therefore avoid the 80 ownership rule. Also requiring the new foreign parent to be a tax resident of the country where the foreign parent is created or organized. Officials on this Conference Call said all of these actions will be prospective. They will impact any deals or transactions
Here. That ipo pricing at 14 last night. But right now you cannot get it for that price because you can see there its up to almost 24 bucks on the session. A huge move day one for the Cloud Company despite vocal skeptics. Theyre questioning their profitability. This feels like the debates we were having back in the 90s during the dotcom boom. Im not saying thats the case here, but off booming ipo with people wonder wrg is the money right now. Another bombshell from the president s tax plan. President obama wants to challenge College Change i should say College Savings plans known as 529s so the gains would be taxed as regular income. Right now they are taxedfree as you know as long as the money is used for a childs college education. The president says these plans only help rich people not the middle class and we will put it to the test coming up on todays closing bell. This was all part of the state of the union. Making Free Community college. We have heard jeb bush and others say it