Higher density battery, greener, but the technological breakthrough towards that are still speculative so the market reacted negatively to that news. Right the bull case is that were seeing built today say that if you were to be able to cut the cost by 56 in three years, it would have enormous ramifications on volume, implications for margins and ostensibly positive for the stock. Cramer said it best this morning, if you were a believer going into the event, you remain a believer and if not, maybe youre not. Fair enough its absolutely true that the Battery Technologies worldwide tesla and everybody elses will continue to get cheaper and better thats a given thats just the all laws that support Technological Breakthroughs support that theory so thats already baked into the price. You know, all the disruptive capacity of the technology is already baked into the price theres Everything Else is just sexy brand, elon cult personality who of course deserves all the credit in the world he adm
Digital sales. More on that in a moment some hope on the vaccine front as well to mention j j entering trials with 60,000 volunteers though cases rising in many states here and abroad down 450 points. A sharp selloff in half an hour as kelly and frank were discussing on the show well speak with Ceo Marc Benioff well discuss how the pandemic changed business and his thoughts on oracle and tiktok deal plus more walmart is hiring tens of thousands of workers well speak to fubu founder and shark daymond john the stories were watching, mike santoli tracking action, sara with a look at nikes quarter mike, lets kick things off with you. Down 2 on s p. It seems as if really this rolling correction period in september has Unfinished Business to it didnt seem news driven though incrementally coming into the week, weak seasonal patterns a general sense if you were talking about an economic recovery, you werent getting fresh confirmation of that day to day of course nasdaq is in sell the rallies m
Gap, all falling very hard as you can see there. Well go shopping for opportunity in that Retail Sector later on, buy gold now thats the message from one top wall street firm we will debate if there is any shine left in that big trade we start first with breaking news out of disney the stock is moving lower in the after hours session as the Company Announces some very, very major job cuts. Lets get to our own Julia Boorstin with the details. These are tens of thousands. Thats right. Disney is laying off 28,000 domestic employees, hourly, sal rye e aried and executive roles. In light of the prolonged impact of covid19 on our business, including limited capacity due to physical distancing requirements and the continued uncertainty regarding the duration of the pandemic exacerbated in california by the states unwillingness to lift restrictions that would allow disneyland to reopen, we have made the difficult decision to begin the process of reducing our workforce at our parks, experiences
Before she hits the ground shes going to want to step aside good monday morning welcome to squawk alley. Im Carl Quintanilla with jon fortt and Julia Boorstin markets looking good, yields up and oil up as investors are focused on two things, the prospects for more stimulus covid aid and the potential departure of the president from walter reed on the latter point well turn to eamon javers good morning. Good morning, carl. No information yet from the white house at 11 00 a. M. , but they did bring the White House Pool reporters over from the white house here to walter reed which indicates there might be some expectation that we could get a briefing for the press within the next hour or so were going to stand by for that meanwhile, no indication whether theyve made the decision yet to move or not move the president they say theyll make that decision with the medical team later on this afternoon. So we continue to wait here as we learn that the Vice President and mrs. Pence have tested ne
From apple yesterday plus, jim, fedex and adobe to kick around from last night. Wow i mean, these were congratulations gentlemen and ladies calls because the numbers were so unbelievably good, much better than people expected. Now, this is rather amazing, carl why . Because there were firms that upgraded and pushed and raised numbers for weeks and yet they were dramatically exceeded, fedex because of e com, 96 of the growth is e com and adobe because its how companies are able to digitize quickly, particularly retailers, in order to be able to take advantage of this this amazing wave, this amazing boom of ecommerce to the home because of the pandemic so how can there be such a structural thematically strong story behind ecommerce and packages and growth and the targets that fdx has pulled forward by years and all the good news today on vaccines and therapeutics well, i think whats really convincing here with fedex is that theyre talking about how theres actually a weak economy in the S