Opening. This is p. W. Business im joined now on in berlin welcome officially u. S. Companies are now supposed to already be banned from doing business with chinese tech supplier while way but the u. S. Is Commerce Department has again given wall way and 90 day stay at 2nd one in a row the move about odds with the u. S. President Donald Trumps harsher messaging towards the Company Leaving many unsure of what to expect when the current reprieve and in november. When the us wow it was announced 3 months ago it was a big deal for the likes of google as it meant it wouldnt be able to sell updates of its droid software to while away phones many other u. S. Companies such as the chip makers qualcomm and broadcom would also be affected. But over the weekend speculation grew that the u. S. Would postpone the ban on monday u. S. Commerce secretary wilbur ross confirmed news of the 90 day reprieve saying it was to help u. S. Companies prepare further for a time when there would not need while wi
Record sales for the most valuable company. And boeings billions, it is taking a 5 billion hit in the Second Quarter due to the worldwide grounding of what was its bestselling plane ever. And rate cut optimism. Stocks on track to open higher but on pace for worst week since may. Microsoft on track to open at a record high, market cap above a trillion dollars Quarterly Results beat expectations on cloud strength here is nadella on last nights Conference Call. Our commercial Cloud Business is the largest in the world, surpassing 38 billion in revenue for the year with growth margin expanding to 63 . Im proud of what we have accomplished over the last 12 months, and im energized by the tremendous opportunity ahead every day we work alongside our customers to help them build their own digital capability, creating new businesses with them, innovating with them and earning their trust. Cloud is a third of revenue and after at t they had quite the week. Yeah. I did something i never do i list
Going to be most interesting is how the stocks react and what was already built in or was this just kind of a big trade into big cap growth and were not really talking about the quarterly results. Its just a placeholder type investment or are we really banking on great numbers from the likes of facebook and the others . I mean, microsoft is really interesting. Flawless quarter, stocks getting a nice bump, but its not running away whats amazing to me is just how big these companies have become if you look at the numbers and the actual earnings, i like to look at the earnings,theyre not that great earnings from the Technology Group are down this quarter. Earnings from the Technology Group are down in the Third Quarter. The semiconductor has been generally bad with a few exceptions and yet people keep buying these stocks and they keeptelling me well, theres nothing else to buy in growth. Semiconductor index, the smh, weve talked about this before, 2 from historic highs horrible commentato
Gains. Markets and euros doing nothing, even with some german confidence numbers. In the bond market, treasury yields up by three basis points. A steeper yield curve in todays session, as wall street gets back to work. Lets get you some headlines outside the Business World. Hears taylor riggs. And russia have agreed on a former to extend Oil Production cuts, according to people involved. The agreement is set to extend cuts to the end of next year. Balkinglin has been anthonys foreign extension. The current deal doesnt expire until the end of march. The Holiday Shopping season is officially underway, some stores in the u. S. Got a jump on black friday sales. Brickandmortar chains are having positive optimism about their prospects. Theres a signal the former Trump National security adviser Michael Flynn may be in discussions some time with special counsel robert mueller. Lynns lawyers have quit sharing information with President Trumps legal team. The president fired flynn for allegedly
Far more than they realize. Sadly, frequently, much more than they ever get a chance to fulfill. And so if everyone in the world has godgiven gifts and everyone in the world has potential, why is it that this country is so special . Why is it that more things have been more possible for more people for more places here than anywhere else in the face of the earth . I think it is because our founders knew what my mother taught me. Our founders knew that everybody has godgiven gifts. Our founders knew that everyone has potential, and so they founded a nation on what was quite a radical idea at the time. It is a visionary idea still and the idea was that here, you have a right to fulfillpotential. That is what they meant when they said life, liberty, and the pursuit of happiness. You have the right to fulfill your potential in this nation, they said, and they said, that right and this was the radical pie part, that right comes from god and should not be taken away by manner government. Man