Want to cozy up with for the long winter. But a major milestone for the dow, closing above 28,000 for the first time new records for the s p and nasdaq united technologist, alphabet, microsoft all hitting record levels is the market headed higher and higher thats a miserable song, isnt it. You know there was a time and place for it but its not this is not the time and place to talk about it. Nor the place. Kudos on the devg but me that thought the market is grinding higher so many headwinds and things to be concerned about and we rattle them off the market doesnt care. The vix closes at 12, in my estimation way low in the environment but the s p grinds higher on a day where the only real news is the president part of his administration talks about getting closer to a trail trade deal with china i thought we had phase one signed a couple weeks ago. Earnings god but i do think this market is not nearly looking at all the negatives closely enough and at a certain point they matter. I dont
Obviously a busy morning full of trade and tech news, jon. Indeed. I can take no blame or responsibility for those headlines, but many of them clever all about google thats where were going to start at both larry page and sergey brin step down from their operating roles at the companys parent action alphabet, needing both chief executive roles to be filled kara swisher joins us now on the phone. Kara, i was just talking about this last hour in a way this just smells fishy to me if youre a shareholder looking at the precedent this sets these guys are young, 46 i dont know that weve had any precedent for a tech company, a giant of this size, a controlled company, where the founders say, hey, we still want absolute say over what happens, we just dont want an operating role or to be chairman of the company. Have we seen this before, kara well, in little places. The founder of ebay left the company and put it in the hands of meg whitman and it was a Significant Company at the time and he we
Hours. The Committee Meets today to receive testimony from the Government Accountability office that serves the secretary, the Service Chiefs on the current condition of privatized military housing. Almost a year ago, i first heard from military families about the abysmal conditions they faced, and frankly, a confession is good for the, soul of this was janet driver who called this to my attention from Tinker Air Force base and i thought this was something that was unique to Tinker Air Force base but its also in oklahoma and its also all the way around the country. And so that was the background of how this all started. Weve come to learn that its it is a problem nationwide. Its a National Crisis of proportions we havent seen since the scandal at walter reed about a decade ago. Members of this committee, our staff and myself, weve all traveled and seen these problems firsthand. This is the third hearing this committee has had on this issue and im sure its not going to be the last. We h
Time for Global Exchange and bring you todays market moving news from around the world from hong kong to frankfurt to london to new york and washington. Our bloomberg voices are on the ground with this mornings top stories. Were going to start with the latest in asia. Trade uncertainty appeared to take its toll on china. The countrys economy losing more steam in october, factory input and fixed asset sales missing estimates and joining me from hong kong is bloombergs chief asian economics correspondent. Give me the rundown of the data weve got. It was a mix across the board with a slump in investment and industrial output miss expectations and on the retail spending part of things we saw the weakness go from auto and turnt and cuggetting the consumer is starting to book now none the pressure of trade war and slowing economy. There were two big takeaways from economists and onen one hand the numbers suggest were probably looking at 6 growth in this Current Quarter and probably shows the
After reporting better than expected earnings ahead of the launch of its streaming service next week. And we have a big interview coming up in just a few minutes. Billionaire investor leon cooperman says he will support fellow billionaire Michael Bloomberg if he runs for president. Cooperman joins me exclusively to explain why joining us for the hour is mark tepper from Strategic Wealth partners mark, great to have me here. Thanks for having me, appreciate it. What is your take on the market we saw record highs this week, but seem to be moving sideways here today yeah, so, overall, investors are definitely riskon right now, because of this trade optimism i know trump said today that maybe there has been no agreement with regard to rollbacks and tariffs. But nonetheless, risk is on. And were seeing this rotation now out of bonds, into stocks. Were seeing a rotation out of defensives, which had been leading the market into cyclicals. And really, one of the biggest driving forces right no