More details emerge about the antitrust probe into facebook, looking squarely at the social networks buys. And cloud wars. A new u. S. Defense secretary, mark esper, says he will review the pentagons 10 billion cloud contract and concerns it is getting an unfair advantage. This following President Trumps concerns. But first to our top story. President trump up ripley escalated his trade war with china thursday, tweeting during the talks, the u. S. Will start on super one, putting a small additional tariff of 10 on the remaining 300 billion of goods and products coming from china into our country. This does not include the 250 billion dollars already terrorist at 25 . This after failing to come to an agreement in recent talks in shanghai. Tech stocks including apple plunged on the news. Included tech goods including most of apples major products. Earlier, asked about if he is concerned about the reaction. Listens to what he had to say. Im not concerned at all. People are not understandi
High, with tmobile, netflix all adding fuel to the rally. Alphabet posting its oneday percentage gains since july for death july 2015. Joining us to discuss, senior markets editor mike regan. Alphabet, facebook, twitter, all reporting results. Where do we see the biggest move . It was a major week for companies. Very tech centric. Alphabet is the star of the show, rising 10 . They seem to be firing on all cylinders. Announcing that major 25 billion share buyback, that is taking the edge of edge off of the concern of the probe of alphabet. Also twitter doing well, showing an 18 gain for sales. Amazon was an interesting story. They had a big earnings miss, but it was in an amazon typical way. They developed a more robust oneday delivery operation, and thats the type of thing amazon investors in the past sort of embraced, even though it caused a hit in the shortterm. I think the Semiconductor Stocks are a major story this week. We saw texas instruments, semiconductors are a weak spot. Tex
And facebooks nightwatch. How they are fighting fake news on facebook about facebook and paying tribute to game of thrones. But first, to our top story. While the world fixates on trade tensions, another dispute between beijings neighbors is weighing heavily on chipmakers. Japan slapped restrictions on exports to south korea of crucial materials needed to produce Semi Conductors and screens. Samsung slid nearly 3 monday. 5. 5 . Ix dropped together, they count for 60 of memory chip capacity. Analysts suggest the applications may go beyond chips , upsetting the Global Supply chain from everything from iphones to laptops. Joining me in the studio is bloombergs ian king. Why is this happening now . Word ood question question. It is something that goes back hundreds of years, you could argue, with japans colonization of korea. Korea are japan never made amends, japan says yes we did. This appears to have bubbled up into the tensions were seeing right now. Emily could it have anything to do
First time in 15 months. Is the latest bitcoin bump here to stay or just another bubble . The clock is ticking on President Trumps next round of china tariffs. A proposed new wave of tariffs set to go into effect as early as next month end half of those and half of the 300 billion of targeted goods are tech related. A new article details how chinas Tech Industry is mostly insulated but there is one area where it is still dependent, very dependent. The semiconductor chip. Over the last decadeplus, china has seen a surge of chip imports that surpasses 300 billion. To further breakdown the effects on tech in both countries, we have bloomberg techs ian king, who covers the chip industry and the coauthor of the aforementioned article. Also with us, global Senior Editor brad stone. Chinas greatest reliance is on semiconductors. How so . Ian esoteric parts like broadcoms switch chip, more common parts like an intel microprocessor, china really cant replicate those yet. They have been trying f
Down more than 10 , then up, then down. Today, down 16 . A huge again this year. You can make the case it is a parabolic uptrend. We see a beautiful up trend for fromin, basically going 200 all the way to 20,000. 13,000 onely, above reason to think it is going to continue to consolidate, theres to 1600. Gap closer suggesting volatility we are seeing in bitcoin could be to the downside it looks like this could hold. Volatility is once again still ahead bitcoin. The bestant to pull up currencies year to date. I will give you a hand. In honor of canada day, lets talk about the canada dollar. It is two pronged. Up 30 year to date. That helps canada. While supplies are negative around the world, candidates are at plus 45. There is less than one rate hike priced in for the bank of canada. Forward policy rate. N canada watching crude oil prices very closely. Faded evenat it after opec producers announced extensions of cuts into next year. The reason why rent has fallen, extendingding these cu