Melissa chan welcome to asia thank you for joining us thailand is facing another weekend of antigovernment protests and demonstrators have been Holding Daily rallies to with tens of thousands of people turning out the activists have 3 demands theyre calling for the Prime Minister to step down for a reform of the constitution and a reform of the monarchy theyve been keeping momentum up with some inventive events such as this a terrible fashion show held earlier in the week meant as a criticism of the elites and especially of the royal familys fast well. Joining us now to what kind of fellow who has been out on the streets over the past few months and a critic of the government since his University Days you know what i remember the protests earlier this summer and then to see people still out now why do you think this movement has gained momentum i think that. You would not have been given moment because of their fellow Economic Situation is thailand to column and kind in manage the econ
And as millions of americans continue to stay home amid the coronavirus, we run down some of the hottest holiday tech peoples of their, all as swarmed online sites. Speaking of staying home, what streaming companies are doing. First, lets get a check on u. S. Markets, where we have been talking about the rotation out of tech shares on corona vaccine news. Reversed courseon wednesday amid data showing a possible slowdown in economic growth. Ed ludlow joins me with my. What are you seeing . Ed im calling it the unwinding of the rotation trade, taylor. The s p 500 coming off this record high, dow coming up 30,000 points that we saw yesterday, and then the technology stocks, the nasdaq 100 index up. 6 . Data wise, this is the first backtoback rise in weekly u. S. Jobless claims since july. Investors are reassessing what is going on with the economic recovery as it relates to covid19. The story, as you say, has been a move into value and smallcap stocks, those kinds of companies that would
Rose. Microsoft saw a better First Quarter revenue, helped by demand for Cloud Services as more people work remotely. Sales through september topping 37 billion. Melbourne, the merge from a melbourne emerges from a strict lockdown. Ours and restaurants are reopening, even home visits are allowed. Shery lets get you started with a check of the markets. U. S. Futures opening lower, down. 4 . This after stocks fell to a three week low in the regular session. We had cyclical stocks taking the brunt as virus cases continued to climb globally. We have the nasdaq composite pulling back of yesterdays losses on the deal around amd. Durable goods orders coming in better than expected. Lets see how things are shaping up for the asian markets. Here is Sophie Kamaruddin in hong kong. Sophie we are seeing losses continue here in asia. Chip stocks very much a focus after amds deal to buy. Earnings. We have results from sony, zte, as well as budweiser asia to name a few. And a straley or, we have had
Dorsey, and alphabets sundar pichai, are set to testify virtually tomorrow. Section 230hange could have longterm ramifications on free speech on the internet. Banned news political ads. We will ask Cambridge Analytica whistleblower as part of our special electioneering series. First, lets get a read on stocks and microsoft results. Abigail doolittle with us from new york. Big beats out of the gate. Abigail in the after hours, they are trading higher. Although i think what we are about to look at could be all over the map at the moment. They are talking about the idea that further lockdowns could hurt demands. Their Cloud Business was weak. Microsoft Cloud Business very strong. That was a piece of the beat. Maybe part of the business that could have gone to microsoft. Again, after hours, this stock is trading higher on the year. Valuation is rich, but the theter is good enough that stock is doing just fine. The s p 500 index and the dow down once again. The nasdaq climbed sharply higher
Out. Our conversation with jeremy stopple min later this hour. Tiktoks Parent Company is asking a u. S. Court to intervene in President Trumps attempt to thwart the sale. First, a comeback for big tech in the stock market. For more on the trade, we are joined by Sarah Ponczek in new york. Walk us through the day and how tech drove market action. Tech we did have a turnaround, this two days after the nasdaq fell. You see the nasdaq 100 back on top. If you look at your other major benchmarks, not staging as much of a rally. What changed . Not too much. You could say its just a comeback. At the same time, there were headlines about further restrictions in the city. It begs the question about whether or not people will be working from home, stuck at home with restrictions longer than previously thought, especially with the positive news on the vaccine. The that, we see stayathome trade likely to return. With tech getting hit hard the last few days, is the worst over, or is the worst still