Coronavirus fearing weighs on the market, surpassing 100,000 worldwide. We are expecting a briefing from Vice President mike pence a bit hear this evening. Though that survey was conducted in the middle of february before the outbreak took hold in the u. S. In just a few moments well talk about russ cost rich he says the u. S. Consumer remains strong and where he is putting to work now. Dan, what are you doing . Not a whole heck of a lot week on week, there was a bit of optimism. As investors star thinking about how to allocate towards equities visibility will be the big point. I think i dont think were going to get that anytime soon right now. That was the low for this move you had a strong reversal off of that we set ourselves up for a powerful rally, but most of that snsht has dissipated, so some say you will have to retest the low, and were doing it right now on a relatively tenuous way, so i still think, given the stress in credit markets, stocks are not yet convincingly saying we
And we have executives at davos falling over themselves to take action against Climate Change, something that will hurt their earnings per share even if it may save the environment. Yet, none of that seemed to matter until midday and then ultimately, the dow dropped 152 points s p. After we learned that the coronavirus has reached our stores and boeing told us that the 737 max wont resume service until june or july causing its stock to crumble and taking the average down with it. The coronavirus is precisely the kind of outbreak that would have decked any other market right from the opening i mean, really cause it to plummet. And then what would happen is it wouldnt get off from the canvas it would stay down but this market was able to hang in there until that onetwo punch this afternoon well, this hasnt resulted in huge number of fatalities, at least not yet. The fact that respiratory viruss like this one are incredibly difficult to contain should play a role here. So far, it seems le
Alphabet. We will have details. Wework went from one of the most anticipated ipos to a floundering Coworking Company just trying to survive. We will look at what it faces in the new year. But first, our top story. Bloomberg was the first to report the iphone maker has a secret team working on a satellite technology, striving to find new ways to beam data directly to its devices. This is all according to people familiar with the matter. The company has about a dozen engineers from the aerospace satellite, and antenna Design Industries working on the project with the goal of deploying their results within five years. For more, i want to bring in bloomberg technologys mark gurman. What do we know so far . It is topsecret. It is operating like a startup in apple. It has the right funding. It has the ear of tim cook. It has a bunch of Aerospace Engineers and executives working on a plan to let iphones and other apple devices receive their data directly from apple developed antenna towers, s
The hard earned dollars. This is facebook could facebook be broken up by government shares down on the threat of government action. All that ahead but beginning with the headline sending stocks to new records. The United States and mcagreed in principle to phase 1 of a trade deal Kayla Tausche live at the white house all day. Breaking news all day long and joining us now with the late breaking details kayla. Waiting official word from the white house and the u. S. Trade representative on a limited agreement between the u. S. And china that would see tariffs on sunday delayed or cancelled and would potentially roll back some earlier tariffs or cut the tariff levels from previous rounds. The wall street journal and bloomberg both reporting that President Trump has signed off on this agreement that was presented to him by miss top trade and economic advisers earlier today. The meeting that the president held was for roughly an hour in the oval office. And at one point he was joined by ceo
Sevenweek win streak and tech is the secondworst performer in the s p. Joining us for the hour, Barbara Duran from bda capital is here at post 9, talking more about a market that happens to be happy as long as trade tensions are not escalated, pretty much right . That is for sure. And i think a lot is being discounted in the market in terms of global recovery, the fed is on hold, but watching careful. And we have yet to see the effect of the Interest Rates next year. But trade, i think, its what people are expecting is that therell be no more bad news i think hoping for something more, like a rollback of tariffs would be a bit much. This seems to have morphed into a geopolitical technological fliskt i think the downside is limited also for those same reasons, plus people are defensively postured and so on but i think what its going to take is next year, having to see what the earnings are going to be and thats a possibility is the market even considering that possibility is that priced