Good morning, it is midnight in beijing its 11 00 a. M. On wall street and squawk alley is live. Good friday morning welcome to squawk alley. Im jon fortt with carl quintanilla. Its the end of cloud week on squawk alley. What a week its been. They have brought news on custom chips, Machine Learning and more sales force announced plans to buy slack for nearly 28 billion in the second largest Software Deal ever. Weve had ibm and microsoft weigh in snowflake and others have turned in blah earnings well hear from the ceo this hour what does it mean for investors already sky high investor malic noijoins us now i cant believe we never had you on squawk alley before i hope this is a trend i want to start with sales force slack. I know that you have known stu butterfield for a long time, even before flicker was a hit. You think this very expensive deal makes sense why . So lets remove the price out of the equation. I think what youre looking at right now is in 2020, we have gone from the idea
87, the russell small caps up 20 , its best month ever can the run continue and moderna says its ready to file for emergency use while novavax announces a second delay in its late trials we have the details. P power lunch starts right now it wouldnt be a record rally if there werent some bumps along the way. Was today just a oneday pause or something more . Lets go to bob pisani for more. Hi, bob. Hello, kelly. It actual its actually not a bad day. We were down 447 points, weve regained almost half of that if you look at whats down today, Energy Stocks, some up 30 for the month. Thats down. Bank stocks, another amazing rally. Look at this, tech is up apples had a monster day, up overall some of the semiconductors also doing well health care is down fractionally, thats a defense of group if you look at whats going on for november and the value cyclical location, this must be an alltime record for Energy Stocks banks up almost 20 , industrials as a cyclical group. So theyre not selling t
Nasdaq declined. 82 there is only one thought. Good, they all got a chance to buy. Not long ago on days like this we say oh boy, i got to get out of here while it is getting good who knows what it is going to happen with this thing it is going to roll over now we often see pull backs like this as opportunities that are too precious to swander. How do we explain the new mindset . I think because we broken the tyranny of the indexers. When the fed says something positive or when we get solid employment number. Either way, we were in the throw to these big macro events. They control everything. Not anymore. These days macro does not matter very much. And etf buyers have stopped reacting to this stuff instead they react to the opportunity so when stocks come down, these people step up and actually start buying, make it much harder to have a hideous selloff you know what there is nothing new about this less lock steps opportunity mindset. This was the old new normal of the index funds 20 ye
With no diplomas mit graduates number one in that everybody had the person and you know what the other side wanted to get together they wanted to unify success is going to bring us together we run the road to success but im cutting taxes and he wants to raise everybodys taxes and he wants to put new regulations are never think he will kill it if he gets in you will have a depression the likes of which youve never seen. We can grow this economy we can deal with the systemic racism and the same time we can make sure that our economy is being run and moved and motivated by clean energy creating millions of new jobs and thats the fact thats what were going to do and im going to say as i said to begin what is on the ballot here is the character of this country disses honor respect treating people with dignity making sure that everyone has an even chance and im going to make sure you get that the United States has imposed sanctions on 5 uranian groups accusing them of attempting to interfere
Hi everybody. We are so delighted to have you i am the founder and president of the patriotic millionaire a welcome to the congresswoman for being our guest today and for all of you to be here we are joined by our three guests and we will start off with a 30 minute overview and then we will hear from the congresswoman and have a question and answer and then wrap at 3 00 oclock if you want to learn more of what we are doing tax the rich. Com you will find the link to Patriotic Millionaires university that explains the tax code top to bottom unlike other universities we could mentioned ours is free so lets meet the millionaires. You are on mute. Sorry. The chair of the border Patriotic Millionaires a computer engineer by training but spent most of my career on wall street the last ten years of blackrock the Largest Asset Management Company in the world after the financial crisis of 2008 my work center evaluated the risk exposure one day i was at the top floor of the bank in athens i walk