Having the best it infrastructure is very important so thanks again to karen and team for working on the budget. Next in terms of june and Board Meeting, you may have noticed it seems we have ebb and flow of long and briefer meetings. The last meeting of the quarter is more packed with topics. The same will be true in june, so we apt there will be closed session items, quarterly performance review, likely changes to the its related to the approved new Strategic Asset allocation. On the administrative side, provide a update on strategic plan, election of president and vise president and might have policies to approve. A lot of big items to cover in june and wanted you to be aware that might be a longer meeting. With that, as you know, in the materials we always have the board calendar, the conferences and training and this quarters travel expense report. Open up to any questions. Any questions . Thank you. Public comment, please. Do we have inperson Public Comment on this item . Seeing
Blowout earnings from amazon, alphabet, microsoft, and intel that we told you about last night. Amazon and alphabet closed at alltime highs and above the 1,000 a share mark. The two dow components, microsoft and intel, were both up more than 6 . Microsoft hit a new alltime high. And intel was the best performing stock today on the blue chip index. Today alone, amazon added more than 61 billion to its market cap. Alphabets market cap now tops 700 billion, about twice the size of exxonmobil. Microsofts market cap pushed past 650 dlal billion, just onek after hitting 600 billion. Intel shares hit a 17year high. That along with apple saying its seeing Strong Demand for its iphone x sent the nasdaq up more than 2 . And the fact that index easily outperforming the Dow Jones Industrial average, which added 33 points, and the s p, which gained 20 to hit a record. The nasdaq was the big winner for the week as well. The Global Benchmark for crude settled above 60 a barrel for the first in more t
Good tuesday morning. Welcome to squawk alley. Jon fortts on assignment. Hes headed out west. A bunch of big names on that guest lit starting tomorrow. Well hear from steve ballmer, and a lot more over at code over the next couple of days. In the meantime the dow is down 32. Amazon broke through to 1,000 for the First Time Ever as tech stocks continue to rally in the First Six Months of the year. Bertha coombs with the latest. Hi, bertha. Amazon stocks helped lift the stocks to a new high. They have helped Large Cap Fund managers achieve outperformance to the overall market. Theyve really sort of caught up in that area. Active Fund Managers are now about 24 overweight in large cap tech. Thats the largest overweight they even been since 2008. It doesnt hurt that amazon and fail bet are at alltime highs. Facebook has been a little laggard in this group, near 8 gains with other fang members. Apple, they dont really touch on, but coming into this month, ubs noticed that most Fund Managers
Disappointed tech, which has been the best performing sector of the year remains the epicenter for much of the selling the vix is up, theres so much to discuss i couldnt think of a better day to have you. Welcome back. Nice to see you i know people think of you as this energy guru and oil trader, but what is your broad view on where we are theres so much going on today alone to discuss where do you see the markets right now . Simply at some point when if the ecb pulls back, japan pulls back and all these countries pull back from printing money and the fed has made it obvious what theyre doing, theres going to come a time where the markets just may not go down that much but theyre not going to go up what happens when we enter a period of time when the markets stagnate two to three years where the overall performance is flat . What happens then to all the Pension Funds and municipalities that have all these on ligations that rely on 7 . You cant tell me over the next ten years theres not
Our road map this morning begins with the market moving on comments from trump on pharma, defense, automakers, what the News Conference meant for investors. Plus, trumps ally in the valley, peter thiel on the president elect with comments on apple and the stock market as well. Speaking of apple, new report the company is planning a significant move into original content. We will fill you in. First up though, futures moving lower a day after the nasdaq hit that record high. It was a rough day for biotech after shot heard around the pharma world delivered by the president elect at his News Conference yesterday. Our drug industry has been disastrous. Theyre leaving left and right. They supply our drugs, but they dont make them here. Theyre getting away with murder. Pharma, pharma has a lot of lobbyis lobbyists, a lot of lobbyists and a lot of power. Theres very little bidding on drugs. Were the largest buyer of drugs in the world and yet we dont bid properly. Were going to start bidding a