Were learning in the wake of the shocking ipo yesterday where buyers seemed indifferent to the share price if you wanted to buy snowflake, you had to sell something else, which triggered a selloff in the nasdaq, and that spread today, with the dow dipping 130 points, and the nasdaq losing 1. 27 . A lot of people call into question what theyre doing paying such high prices. We saw the spectacle of a stock trading at more than 100 times, not earnings, but sales. Dont get me wrong, snowflake should not be about making money, it should be losing money. It makes sense for management to spend fortunes to dominate the cloud Data Management business you want to win, youve got to spend. Snowflake is not the issue, though the ceo will do everything in his power to deliver for shareholders hes got an amazing track record i totally understand why people are willing to pay for the nose for his stock. I liked it even as high as 125 but i jumd eunderestimated the. I heard that the underwriters were t
Growth rate and job creation, now if you put the fed statement and higher jobless claims together, thats whats pushing stock prices down this morning. Look at it. The dow is off about 100, s p 60, nasdaq about 31, more on that in a second. All right, did you watch night 3 of the Democrats Convention . It was hate trump night. Speaker after speaker layed into the president in personal terms. He gets the blame for everything. Seems to me like the democrats have not gotten over their loss 4 years ago. The president was live tweeting all the way through. We will show you both sides of this, of course, but seems to me like all of the democrats have is hate trump. Varney company is about to begin. Stuart look at the red ink on the markets, first of all, down across the board but not that much. Lets get right at it. Larry kudlow, director of Economic Council at the white house. Larry, negatives this morning. More than 1. 1 million jobless claims, the fed says the virus is hurting growth, back
Capital minsk not long after maria collision to go vote was detained theyd been told theyd be prosecuted if they didnt cross the border speaking in kiev the pair explained what happened ticklish week over the last luxury of the e. U. Either or as soon as she got into the car and saw her passport in front of her she ripped it up into small pieces she threw them out the window at the unknown people surrounding the car then she got out through the rear window and started walking towards the belorussian border bellerose says Border Guard Committee has confirmed that kolesnik over is now being held by the belarusian or florences she was a key supporter of the only candidate allowed to run against president Alexander Lukashenko former teacher spread lerner to cannot skier in the center here from exile in lithuania she cannot sky has used a video link with the council of europe the rights body based in strasburg to call for tough action against the better russian government meaning and Intern
And then the counter intuitive ones that took us all by surprise the dow did 205 and nasdaq lost 1. 27 . Its important to go over the companies that shocked this year with the outperformance and those that continue to shock want obvious winners are, well, obvious. People are hanging out at facebook as theyre ordering from amazon, search on google. And it didnt take a chance to figure out that the shut down would force people to use the internet if i werent jimmy chill in real life, i would be jealous of the titans even though the ceos are about to be drawn in court on the house judiciary subcommittee im torn because the Big Tech Companies their platforms arguably have too much market power. No kidding they got it by being good at what they do thats captaitalism. Theyve done better job responding to the pandemic than the government but forget the obvious covid winners. I want to talk about the big surprise the things people are doing when you cant go to the movies or ball game or ship y
Health conditions must return by happy to be back . Yeah. Very nice. November. I have to make a choice better than at home. Better than at home. Between do i risk getting sick so thats good. Paycheck. In surveys obtained by cbs what might be interesting as well is 120 see what our office news, hundreds of staffers voiced their objections, one used to look like. A lot of people in a small writing, im quite frankly embarrassed to work at a company space. Not much privacy and difficult to make phone calls. Are you going to keep that old that values employee safety so little. And this there will be People Office or is it a museum piece, who die because of epics the way things used to be in the 20th century . I think it will be a museum insistence on lurk to campus. Rushed, shameful, disappointing, wildly peace. Irresponsible and a disaster. If the company is doing as good of a job prioritizing with the proud father of the safety at this plant as you say Herman Miller incorporated. In 1968,