Hour the hearing is still going on behind me, but already there have been several fiery moments, including some from senator sherrod brown, the ranking democrat on the committee. In his opening statement, he compared facebook to a toddler playing with matches and said that it would be delusional for anyone to trust facebook with their finances, when the company has already broken so many promises on privacy. He then tried to get david marcus, a facebook executive whos testifying to make his own promise, and that is to receive his salary in libra. Senator, if your question is whether i would trust all of my assets in libra, the answer is yes. Do you trust this enough to make your compensation paid fully in your currency senator, i would, because it is backed one for one with a reserve. You could have said yes at the beginning of the question, then senator, with respect, i wanted to clarify that were not trying to compete with Bank Deposits he has said that statement repeatedly, that fac
How facebook is fighting fake facebook, facebook on paying tribute to game of thrones as they do that. Fixates on trade tensions between china and the united states, another dispute is weighing heavily on chipmakers. Slappedk, japan restrictions on exports heading to south korea. Samsung, south koreas largest company, slid nearly 3 . Another company dropped 1. 5 . Together, the two Companies Account for 60 of the worlds memory chip capacity. Upsetting supply chain for iphones tofrom laptops. Why is this happening now . This is something that goes back over 100 years, you could argue, with japans invasion and colonization of korea. Korea argues, you never apologized. The japanese side says, yes we did. This appears to have bubbled up. Emily could it have anything to do with President Trump and him taking a similar tact in dealing with china . Ian that is the argument, that the japanese side, for domestic political reasons, they are saying, weve had enough of this. This is something that
Buying it. And growing cyber threats, new york spending big time, and one stock in the cyberspace up sharply. The name and ceo join us ahead first, the latest on the markets. For more, we turn to bob the july cpi was up 0. 2 month over month, 3. 2 year over year this is supportive of the soft landing and disinflationary trends 10 00 a. M. Eastern time, theyve been selling into the rally since. The s p was up almost 60 points. Almost flat right now. Dow up over 400 points, going towards the flat line. Nasdaq up over 200 points, it too down rather dramatically the russell 2,000 is now negative so take a look at the weakness here its semiconductors and tech so big names like nvidia and micron they were all trading up at the open, now negative apple, generally flat on the day. There are some pockets of strength a win is driving up all the casinos. Las vegas is still strong, thats good news the refiners, the marathon petroleum, phillips 66 keep hitting new hires, although oil is having a ra
Way, jackie. Good afternoon, folks, im charles payne, this is making money. Breaking right now, stocks stumbled out of the gate. Here is the thing it is litany of issues. Surging bond yields. Wait until you hear what happened with the 20 year auction. Political tensions enhancing. Negative reaction to earnings this morning. Guess what . Im actually bullish. I will share my source of optimism and my one key signal to load up. Heavyweights tesla, netflix report after the bell. Well handicap that with you our top analysts on on the street ad our favorite stockpickers. President biden heading home after the wartime visit in israel. Tensions escalate after a bombing in gaza hospital. Russias Vladmir Putin touts a new world order with his quote dear friend president xi. Gordon chang is here saying what the two leaders are saying is something we ought to be paying attention to no matter what else is in the news. All that and much more on making money. Charles all right, so most people know me
Disney, underarmor, theyve all been held by boom rang ceo founders, but has that helped or hurt those companies . We have a special edition of three buys and a bail. Todays market has been a bull run so far today. Were off the best levels so far, but we have north of 1 gains for the major indexes. The dow currently at 38,652, up north of 1 . Its a similar percentage advance for the broader s p 500, large cap which sits at 5121. The reason why that level is important is because 5129 is the level a lot of traders are watching right now. That level represents the current 50day average price of the s p 500 on a rolling basis, and that has been the upper end of the trading range for the s p 500 going all the way back to just around april 15th. So its been an area of neartomedium term significance. If it can break through that, who knows what happens . A lot of people watching to see if this is a resistance area for the broader s p. The nasdaq up about 1. 75 , 16,136, led in no small part by