Senator ted cruz will join us on why he thinks there should be more backlash for tech power lunch starts right now welcome to power lunch. Im dominic chu. Real estate, financials in the green as well. Technology stocks, though, the worst performing sector in the s p 500. On the dow youve got walgreens, the best performer after its Earnings Report this morning the company expecting 2021 Profit Growth despite the pandemic worst performer, it is vertech pharmaceutical kelly, ill send things back over to you. Thank you very much stocks well off their worst levels of the day. No stimulus, jobless claims higher so are covid cases earnings may be the only hope. To bob pisani for more on that bob. And, kelly, were near the highs for the day but there are reopening worries out there if you look at the markets you can see thats all the travel stocks are weak again so the airlines, expedia, weak, even work from home stuff like ebay, salesforce, same thing mastercard and visa and American Express
With so many businesses working remotely. One of the biggest work from home names is slack, which has seen a flood of new customers as remote work continues. Shares had been soaring, but got pummeled in the last few days after the Company Reported a miss on feelings expectations. Ceo of us to discuss the slack. This is a pretty big move and one of the biggest selloff of slack shares in particular since you have been a public company. What is your take . It gives the backdrop of a lot of volatility. I definitely think the billings missed you mentioned is important. We were a pretty young company, 6. 5 years old. We are coming into our sophomore year. There is rightfully a lens of skepticism on whether this growth is durable. Happened this quarter is different. We had the pandemic. Record unemployment. New paid 8000 net customers in the quarter. That brings the total to 130,000. 130,000 businesses, they are small and medium businesses around the world. They more accurately reflect the br
Boris johnson concedes a veto to parliament over his plan to illegally override the brexit treaty. Slumped after accusations of fraud by a short seller. The selloff deepens even if the company rejects the report. Good morning. Welcome to the program. Lets get to breaking news across the bloomberg. Capex andto go to the eu car sales. European collar sales falling 17. 6 in august after a 3. 7 drop in july. This is the story that we are essentially tracking. Europes car sales setback stoke fears over annual drops. This headline was written by our colleagues at bloomberg news. 18 slump snapped a three month streak of improvement. The result may indicate that subsidies are shortlived. We have seen that improvement coming through. Whether that has been a shortlived experience rather than showing underlying resilience, we will have to see. These numbers are not so good. We will watch the automakers as a result of that. Acrosso to the picture European Equity markets. The futures picture. We ar
Action from jay powell call it a pandemic breakthrough, the fda clears a near instant testing kit that could change the tide in washington, d. C. , lawmakers looking to make a deal over a skinny stimulus package. It is thursday, august 27, 2020 you are watching Worldwide Exchange on cnbc. Top of the morning to you. Im Brian Chu Dominic chu in Brian Sullivan this morning. S p lower by about two points, the nasdaq off by about six. Monitor day for the nasdaq yesterday. Coming off fresh alltime highs. The dow did end higher yesterday and is now less than 1 away from the break even level for 2020 that is 28,539 digging deeper, it is not just the big names keeping the rally alive. Looking at the semiconductors, both of those coming off intraday alltime highs. Up more than 2 this week alone. Cloud computing getting a boost. Three etfs tracking the space. Coming off the fresh high with a huge move, a massive move. Salesforce goes into the dow next week. That stock higher by 26 for its second
Reporter people collected spare tires and tin cans winning the war was the main purpose. Everyone did their bit every man, woman, and child. Reporter a blue star in your window meant a Family Member was concerts how covid19 is changing the way that were all being entertained now. Well have that for you after accuse the president of holding your local news and weather. Up funding so fewer people can i got new jeans, and some new fleece vote by mail. Just ahead, where that battle heads next. Sued. The Justice Department accuses in uniform a gold star meant a life lost. Yale of illegally discriminating in the beginning, americans werent even sure the war was against white and asianamerican winnable losses were heavy. Applicants. And ultimately success costly. This morning the results of its twoyear investigation and the defiant response from yales just to think they were kids. They got as far as the shore and that was it. President. I never thought id make it out of the war, to be honest