Dorsey, and alphabets sundar pichai, are set to testify virtually tomorrow. Section 230hange could have longterm ramifications on free speech on the internet. Banned news political ads. We will ask Cambridge Analytica whistleblower as part of our special electioneering series. First, lets get a read on stocks and microsoft results. Abigail doolittle with us from new york. Big beats out of the gate. Abigail in the after hours, they are trading higher. Although i think what we are about to look at could be all over the map at the moment. They are talking about the idea that further lockdowns could hurt demands. Their Cloud Business was weak. Microsoft Cloud Business very strong. That was a piece of the beat. Maybe part of the business that could have gone to microsoft. Again, after hours, this stock is trading higher on the year. Valuation is rich, but the theter is good enough that stock is doing just fine. The s p 500 index and the dow down once again. The nasdaq climbed sharply higher
10ly plans on spending billion euros a month. Biden uses his first call with Boris Johnson to reaffirm his support for the good friday agreements. A lot to talk about this morning. Under one hour until the start of the European Equity trading session, futures look flat. Ftse futures, dax futures, a bit of a mix. Yesterday europe was up strongly 1. 5 or more on the major markets by the close. We come into today with a continuation of themes of the previous day, selling out on tech, getting back to value. Lets get to u. S. Futures, looking more buoyant and having to do with what we did not see in the u. S. Session yesterday. Things are not as strong across the board. Nasdaq down by 0. 3 . U. S. Futures looking have we seen that rotation playing out in terms of the tech versus value story . It is in play in asia. It is inch deceit a japanese equity market doing well. See the interesting to japanese equity market doing well. Part of this has to do with what is going on in tech, a crackdown
Dom . It looks like well try that recovery trade from yesterdays late day selloff here. Stocks are broadly higher and to a decent degree. 250point gain for the dow about 1 upside. The s p 500 still very much above that 3,400 area. Thats an area that a lot of traders are looking at as a pattern of support there possibly for the markets up 1 , and the nasdaq, believe it or not, is underperforming, only up threequarters of 1 as well so the nasdaq a key focus there. If you take a look at some of the things that traders are watching from a more macro perspective. Interest rates, especially longer term ones are a very key focus here we dont show the 30year long bond very often. We focus on the tenyear more but that move to the upside has taken that 30year long bond beeld 1. 592 above its longer term trend line or the 200day average yield for that particular Interest Rate 1. 52 is the level to watch there. That could have reverberations on the financial side of the market also then check out
Amazon also boosting, well, going up, of course, and apple, man, youve seen them both over the last day and this morning perhaps no exception, later today, we get the apple phones, prime day has kicked off, carl it is a big day. And as it was for yesterday, in terms of the stocks. Indeed, were within 2 of all time highs on the s p, trying to get back to the september highs, jim but i wonder if you think the lead this morning are these loss provisions at jpmorgan. I am surprised positively i think what has happened is people arent spending, not borrowing, credit card losses, fine Small Business loans, i dont know where the people are that theyre not suffering. This is it is not a happy maybe jpmorgan is lending better i will say this, david noticed this, there will be a call that goes on, simultaneously when we talk about it, and that call is going to take the wind out of our sails, david, if we Say Something really positive because there will be one comment and some comment that comes
A little hard. It looked to me like it was twitter. Like watching twitter for 90 minutes. I did not stick to my original plan. Baseball and bed the two bs i stayed up. I want my time back. I didnt stay up for that long you can play this game with me i felt dissed. How much words can you come up with disappointing, disturbing, disspiriting, distracting, disheartening. Disgusting. You can probably go there disspiriting i looked it up thats exactly what i wanted to say. After all those disses, i wound up with disinteresting thats when i was gone right . It was a let down ly say that. Some people like to watch the fighting it is hard to turn around from it if you were somebody who was tuning in. In my core pin of both candidates, nothing really changed. Mike Wallace Chris wallace had a tough job. I guess he did okay. Im not going to nominate him why do you bother having rules for a debate if nobody is going to bother to follow them kill the rules or give the moderator a kill switch. Both s