Good morning welcome to squawk alley. I am john ford with holly evans. After a series of wild swings in the market, major indexes are higher but not across the board. Dow up 240 the next guest says the fed is partly behind the mayhem the past couple days as the president tweeted about market volatility in the old days when good news was reported, stock market would go up, today when good news is reported, stock market goes down big mistake and we have great news about the economy Tom Mcclellan joins me start with the fed, you think theyre in the middle of this . Good morning. Yes, the president is right. But the link between that and the economy is not as strong as people think what most dont understand, there are two fundamentals that govern movements of stock market first is how much money is there, the second is how much does the money want to be invested the fed is in charge of mostly the first one. I brought a chart. Whats not reported, the fed is selling assets last week they dro
The general says the failed coup in crackdown will have an effect on u. S. Efforts. The Coalition Fighting Islamic State is dependent on turkey for basing resources. From new york, i am mark crumpton. Bloomberg west is next. Emily im emily chang and this is bloomberg west. Alphabet shares getting an afterhours bump. We will break down the numbers are eight amazon seeing doubledigit revenue gains after record sales of fire tv. A 59 surgedline, in revenue from its cloud business. Another day, another another multibilliondollar tech takeover. Lead tradeur alphabet shares gaining afterhours as googles. Company proves its dominance in mobile advertising. Sales, excluding some payments to partners, rose 22 to more than 17. 5 billion. One of the benefits of the alphabet reporting structure is that investors have a better moon shots are doing, things like this all driving car, science research. The so called other bits 859 for the 859 million quarter. The numberso put into perspective, Forrest
Yesterday late in the day we got another famous tweet from mr. Icahn saying he had written a new letter to apple. Weve heard some of the contents of that letter, which apparently is about to be made public, if it hasnt been already. Theres the tweet were referring to. The specifics that havent been shared completely as of yet or perhaps are just in the process of being shared is that mr. Icahn wants to tender immediately, buy apple for 150 billion worth of its shares. Its choking up jim over here. Right now he wants to tender an offer . At the current price is what hes asking for in the letter. He also says in the letter that he would not tender his own shares into that immediate tender offer, again of 150 billion. So roughly about a third of the market cap of the company at its current price. And he also said he would not tender. And he has raised the stakes on the earnings to 4. 7 million shares. It has been roughly 4 million shares. Were talking about a 2. 5 billion position for mr.
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