High end model with the biggest screen yet but shares are slipping after yesterdays big gains. Banks but are in the red a busy afternoon 59 minutes left of trade the dow down 157 or so. Lets get to the big stories. Josh lip ton has the latest from today as apple each. We have the latest on eli lily and we have the Broader Market action josh, apples shares are slipping today, but still higher so far for the week. Wilf, apple bulls will argue what you saw today is the start of a new iphone super cycle. We have to wait and see whether consumers though are just as excited. Tim cook introducing the companys first new 5genabled iphone, the iphone 12. It will be available in four versions, different sizes starting at 699 for the mini, which has a 5. 4 inch display to the max, which has a 6. 7 inch display and costs 1,09 9. The transition from 4g to 5g is complex. Some argue 5g coverage is spotty right now. Though it could act as a catalyst helping to bring the technology to the mainstream won
Development on a tiktok takeover Julia Boorstin has the latest. Sources confirming to me that bytedance is continuing to explore options with the committee on Foreign Investment in the u. S. About a restructuring of the company that would avoid a full sale of those u. S. Operations. Now, my sources tell me that long before President Trump set a deadline for tiktok to agree to sale of its u. S. Operations or have the threat of being shut down, bytedance was negotiating about various options. One option being discussed is a restrucking in which bytedance would maintain ownership stake but wouldnt have any control over u. S. Operations one u. S. Company could take a Minority Stake and be an operating partner, say, have microsoft or oracle be tiktoks cloud operator and manage the u. S. Data in a way that u. S. Regulators could feel comfortable with everything im hearing is still very much fluid and my sources say it is unclear what the president will approve certainly an area to watch soun
From pfizer and after the aresa zenica coming up, the ceo of caesars will join us exclusively to discuss that partnership and the path forward for vegas plus, shares of Advertising Software Company Trade desk are up more than 50 on the year up more than 200 from the march lows were going to talk to that companys ceo, find out what that move is all about how they managed to outperform and whether the underlying business is looking as strong as the stock. First up though, lets focus on the big stories in this final hour of trade. Mike santoli tracking the Market Action julia is covering new developments in the oracletiktok saga and josh lipton on information on nvidias deal to buy arm holdings start with the come back for tech and the overall market. A pretty broad and strong rally. You have a little psychological boost from that m a. Im not sure it would change anybodys find if you were bullish or bearish coming into the week it is operating under the level where we closed the friday be
The question is sort of the Yellen Dudley more dovish wing of the fomc as to whether or not theyre adamantly opposed here, but the other guys, i think it was about letting the markets settle down and waiting to see if there was anything more serious that the markets were telling us from the recent volatility. But if things have passed and they seem to be quite a bit calmer than they were previously, then i think that group of people we were just talking about are quite comfortable hiking rates. Steve, thanks so much. The markets were already moving lower throughout the last 45 minutes or so because of whats been going on in health care. Theyre going to react to this more in the minutes ahead. Steve weiss, it brings up the question again, if the fed acts in the next month, stocks are going to blow that off . Look, i dont know market can go up if the fed hikes rates . I believe that if we get Everything Else sort of more comfortable, the markets trade up. I just dont think the fed is the
Markets after the dow falls 300 points. Futures modestly higher. Dish going over the top. Streaming tv for 20 a month. No contract cable box, a few channels will it accelerate cordcutting . The 114th Congress Sworn in today at washington. Falling gas prices in focus. Futures on the rise the morning after the worst day for stocks at about three months. Losers in the Energy Sector. Oil prices fall below 50 since 2009. I guess its your sense there is more to go. I think theres big supply problem. Meaning we just dont have any place to put it. People dont understand in the last few months there was dramatic growth. Eagle ford in texas. There is a gigantic amount of oil to hit the gulf of mexico. Big wells drilled initially and were caused come on. What matters, youve got to look at this in perspective. Only 2 of the job growth was directly or indirectly related to oil. There are only 16 states that produce oil in this country. Roughly 10 of the population is possibly at risk in terms of co