Good thursday morning. Welcome to squawk alley. With Morgan Brennan and jon fortt at the New York Stock Exchange we watch the markets being whipped by some of the trade headlines. We also have two big ipos in focus today as well. We await the first trade of smile direct club. Lets bring in bob pisani to talk about that and overall iep landscape. We heard valuation is not there, does this mean the ipo market is overrated. Slack, first earnings report, growth wasnt as strong as people thought, not a good idea, growth is not as strong. Some software companies, now theres jitteriness. This week we had three big names, all being upsized waiting for smile direct to open 19 to 22 pricing at 23 looks like and ten x genomics. Upped it to 38 it opened at 54 talking little more than a week ago, 31 to 35. We open at 55 a gene sequencing company, biotech is a hot space overall we wait tomorrow for cloud fair. Another software company, out there, Website Security and other things, was 10 to 12, 35 m
paramedics workers like nurses, midwives and paramedics do, whilst also being affordable for the taxpayer. the offer covers all nhs in england staff except doctors, who are on a different contract. also on the programme. the social media app tikto, kowned by a chinese company, is to be banned from uk government devices for security reasons. in eastern ukraine, a special report on the fighters in the trenches of bakhmut trying to resist the russian advance. gunfire. the russians are only 500 metres away. that s automatic fire. all along this line, grenade fire, automatic gunfire and tank fire. and, following the dry summer and winter, parts of england are facing a high risk of drought unless there s much rainfall in the weeks ahead. 0n bbc london. and coming up in sport on the bbc news channel. there s a surprise in the big race of the day at cheltenham as 33 to one shot sire de berlais wins the stayers hurdle. good evening. after months of strike action by nhs staff in engla
right now as power lunch begins for a monday. kelly. thank you, ty. the new dow taking a breather today. still on pace for its best august in 36 years the important thing about today is we re continuing the see tech out perform that s because of apple, a big momentum name and the semiconductors doing well. health care is doing well. indust industrials, banks are lagging what a summer rally we have had. five straight moinths traditionally august is not a great month. take a look. 7% move in august. april was a great month. may wasn t that bad. june was okay. july, 5 straight months to the up side. we ll see if that continues into september. this is a big day for the dow as you heard throughout the day what is the effect of this the effect is this dow is a little more growth oriented. you have sales form and amgen. it s a little more health care weighted i think the apple split is meani meaningful a lot of people have said it s meaningless. that s technically correct reme