Morning. Dow, nasdaq and s p scoring fourth straight month of gains. One of americas old retailers filing for bankruptcy. Lord taylor hit hard by the coronavirus pandemic. Surprising results of new study ahead. Mornings with maria is live right now. Dagen global action, european markets up across the board. The euro zone economy showing signs of some growth, purchase Managers Index there for july coming in at 51. 8. Anything over 50 shows growth. In asia overnight mostly higher, private survey of chinas Manufacturing Activity showing growth for july. Purchase manager index hitting 9year high. Gold shines, on a roll closing in on 2,000 an ounce. White house officials and democrats set to meet again today to discuss covid19 stimulus bill. Cheryl white house chief of staff mark meadows says we still have a long way to go and hes not optimistic about reaching a solution soon. Democrats want the extra 600 of Unemployment Benefits which ran out last week extended an republicans want to reduc
On twitter or facebook. Lets start with yesterdays hearing. Chairman of the house judiciary antitrust subcommittee kicking off this hearing in the opening remarks saying that he believes these Companies Need to be reined in. The practices have armful economic effects. They discourage entrepreneurship, destroy jobs, and degraded quality. Simply put, they have too much power. This power staves off new forms of competition, creativity, and innovation. While these firms produce individual products, the dominance is killing Small Businesses, manufacturing, and dynamism that our engines of the american economy. Several firms harvest and abuse peoples data to sell ads from everything to new books and dangerous miracle cures. They cant run away fast enough. There is no escape from the surveillance because there is no alternative. People are stuck with bad options. Open markets are predicated on the idea that if a company harms people, consumers, workers, and Business Partners will choose anoth
Giants of silicon valley. 10 trillion in market cap. Adam lashinsky, from fortune, both fox news contributors. Along with former investment banker carol roth and tech expert lance ulanoff. Thank you so much for joining us. Scott, first to you, which of these stocks will move the market, move the most after the bell. Given where we are during the pandemic and kind of where the consumer is i think it is an amazon story and not because amazon is retail and tech with Amazon Web Services youre getting a little bit of both. Youre getting a little bit of tech with amazon and certainly get the retail exposure. Amazon in some cases, david, by some estimates is pushing a hundo billion of revenue. That incredible for reporting services. That is a big tech titan. A big retail titan. That is why it holds so much water. David adam, call me oldfashioned i look at apple of the four stocks, because sometimes they low ball numbers before the earnings come out and investors are surprised when they do. Fr
Yearoveryear. This, despite a huge boycott by many advertisers. Apple delivering a surprise revenue boost, growing 11 amid expectations of a possible decline. The company delaying its return to work, now setting early 2021 as a target date for the u. S. Campus. I just got off the phone with apple ceo tim cook. He highlighted a record quarter, Record Services revenue, and focused on the iphone result, which he says was better than expected after a fairly depressed first few weeks of april. Thanks bounced back he says the pandemic is likely helping sales for the iphone for the ipad and mac, but hurting iphone and wearables. I spoke to alphabet ceo who talked about the fragile macroeconomic environment. We will get to her comments in a moment. Lets start with apple. What you see . Were looking at the post market over the last few days and it has been a little bit rocky. Some of that was psychological overhang. Something very impressive on apple, they put up 2. 58 a share. That is exactly
Hello and welcome to tonights virtual Commonwealth Club program. My name is read and im a Technology Reporter with the Washington Post and im pleased to be the moderator for tonights program, the historical importance of the transformation brought on by Artificial Intelligence and virtual environment. As we have seen over the last three months with the covid19 pandemic and with social media with the killing of george floyd in minneapolis and the aftermath , technology and online environments that every aspects of our life here tonight i am pleased it to be joined by two Silicon Valley pioneers to discuss these issues. William davidow and Michael Malone, their new book, the autonomous revolution reclaiming the future of the machines is out now and delves deeply into the revolution we are living through regarding a i and virtual environment and it can be purchased everywhere including bn. Com. A bit about tonight speakers, bill david, the cofounder of the earlier in his career he worked