Thattart to see some of speculation in smaller cap to midcap names. Keep in mind, the rebalancing of the indices, that actually took effect today, so you will see a lot of the smaller names move into those midcap and largecap, the russell 2000, the russell 3000. Taylor we are getting some comments from fed chair jerome powell. Congressional testimony tomorrow. He is saying the path forward is extraordinarily uncertain and really hinges on this virus. Untilecovery is unlikely people are confident it is safe. Incoming data beginning to show a resumption of activity. A new phase is sooner than expected. Millions of jobs are still lost. He is repeating that the fed is still committed to using a full range of tools. Below,y keeping rates buying bonds as well. Romaine the other thing that is going to start to drive this is corporate earnings. Micron earnings crossing the wire. The three q numbers, adjusted eps, above the estimate for . 77 on an adjusted basis. For 5. 3. Are looking company h
Good thursday morning. Welcome to squawk alley. Im Carl Quintanilla with jon fortt at post nine of the new york stock exchange. Morgan brennan with us from hq were going to continue to bring you nonstop market coverage from separate locations for a while as we reduce travel for employees as a precaution due to the spread of the virus. For the markets volatile this morning where we will start. Major averages deep in the red, had a circuit breaker. The president did institute the 30day travel ban for europe excluding the uk in an effort to curb the spread of the virus ali and brian both here on set thank you for coming in. Good to see you. Brian, what do we say . We know youve liked opportunities in this market do you still think theyre here . Its an honor to be here today on days like this, and when youre a strategist and portfolio manager, because we do both, we are defaulting to terms of i call it the three ps of investment management, perspective, poise and process okay the perspecti
Halfway through 2019 its the last trading day of the first half how has tech performed what about all of these recent ipos bob pisani has some of those answers and joins us on set. You know what i love . I love how wrong the consensus is humans are terrible at predicting the future and nobody is worse than wall street at it, so remember when we started in 2000, back in january, everybody said, the ipo market, oh, theres going to be 200 of them. Everybodys going to go public no one will want all of this stuff. Theyll price this stuff too high and the only thing anybody wants is uber and lyft are they sure they want those . Everything was wrong. Look at the numbers. Were at the first half of the year with. 62 in the Second Quarter, 25 billion. It was the most active quarter by deal count in four years. It was the most capital raised in five years. And look at the 30 the average return on ipo. Thats twice what it historically has been. So the answer was, oh, it turns out theres people dyi
You. Our main job is to get out of your way because we believe that every single one of you has a dream that is somehow been buried by the absolute certainty that its never going to happen. And we both know its not going to happen. Not the way things are going now. We are going to get out of your way and provide an opportunity for those of you to work as hard as you want to for as long as you want to. But if you decide to pick up that little golden nugget, it will put you back in charge of your own destiny and you will be a fully human man just like the rest of us. Every single one of us feels the same way, if i was in your situation i would vote exactly the way you do too. But theres a better life out there for you. There is. And i know its true. And you know its true. Any way, my names mitt romney, id like to have your vote and if i dont get it, i understand. I do. But i wanted to tell you at least that i respect all of you enough to come here in person and endure the rage and endure
Had died. And i was curious, in these violent situations, what response, if any, does twitter have . And so im not familiar with this one. So the account or the material that was going out from her account was not true she was reporting on the violence. And no one was entirely clear if she ever was a real person or not. I see. So, i would say that in the context of violence or any kind of crisis kind of situation, part of we get this question a lot actually, because ill give you a slightly more tame example than violence in mexico. But still it relates. In the aftermath of hurricane sandy, there were accounts on twitter of flooding in this place, and people even had these falsified photos of certain places that were under water. And there, like in the case of mexico, you have these questions, like, hey, twitter and other social media seem to be giving rise to potential misinformation. As i was saying earlier, it is, i really do believe, one of the most extraordinary viral platforms tha