Good friday morning. Welcome to squawk alley. Were at post 9 of the New York Stock Exchange jon fortt is off today ed lee joins us. A lot to get to tech took a item thbl morning. The nasdaq continues to slide amid that selloff that began in yesterdays session. The index set multiple record highs earlier in the week, mike. As we know, we hit critical levels on market cap on unit performance. Nasdaq getting 28 year today. We were talking about jeff bezos being the richest man alive. I think also a couple other things working against tech which is this month the market has been inclined to sell the winners. The year to date winners are the worst performers this year and then earnings season, youve had to have absolutely across the board blowout numbers to get rewarded on the first day. So you saw alphabet. You had a little pullback on generally good numbers amazon the same effect i think all that is causing people to wonder whether its time to take some chips away from tech. I think, espe
November. The road map begins with the trump effect. Gm, walmart and now hyundai announcing Big Investments in u. S. Jobs. But with four days until inauguration, could the president elect and gop be at odds over the fade of Corporate Tax reform . Plus, in a deal creating the Worlds Largest publicly traded tobacco business, British American tobacco buys what it doesnt more oalready own. Well be joined by reynolds executive later. The chinese president drawing a line on trade with donald trump. Well go live to the Economic Forum where squawk has been in davos. First up, the president elect telling the wall street journal a border adjustment measure in the house gop Corporate Tax plan is too complicated. The republicans pitched their plan plan. More companies reacting to the president elects push for more jobs in the u. S. Walmart adding more jobs this year. Gm planning 1 million 1 billio investment. Hyundai the same with 3 billion. It points to what the markets have been thinking this po
This is the second hour of daybreak asia coming to live from bloomberg. Im in hong kong where it is just after 8 00 a. M. We knew the fed may be a factor today, and it was in the markets. Janet yellen surprisingly not surprising the markets with anything different except she did not back away at all from rate rises this year. The markets as we talked earlier more hawkish that the rate rises might come earlier than expected. It was interesting. It was a different story anyway. It was a tell him that she delivered it. Trump or not we are going to raise rates. Much what has gone on here in the markets in asia, lets see how things are kicking off in tokyo and seoul. Know,pondent as you well it is not what you say, it is how you say it. This. Looking at these are the levels where we start off our trading session. 24. 44 you also have inflation coming in slightly below estimates. Dollaryen, 114. 50 was your high. One, a little higher than expectation. Fallingr cured see i am currency i am fo
32 years with the government, 20 in the military and the rest with as a civilian. The security manager or Security Officer for the for that area that hillary and the state department worked in had to accredit the system. Thats the guy who made the mistake and thats who they should be looking at. Enough on that, the emails dont count. Every command i ever worked with had insecurities within their system and thats simply because whatever goes out on a wire through the air or is discussed in an unsecure room can be tapped. N. S. A. Knows it, d. I. A. Knows it, c. I. A. Knows it and so does the Army Security agency i was a member of. Going on to the comments that have been going on the last few days. Trump made one big mistake when he attacked the khan family. The guy was a veteran. He died defending our country. My god, whats going through trumps head to do Something Like that . He has gotten 12 million americans on the republican circus train and the bridge is out up ahead. I hope that t
The japan nikkei was up by another 3. 7 . You see the hang seng and shanghai was up as well. The dax is up by 2 and a quarter . Also check out crude prices which managed to end down by only about 1 yesterday. Up 1. 5 today. Couple big earnings stories this morning. Ibm repeated First Quarter earnings thanks to a double digit increase in arrive from its Cloud Service. Overall arrive falling to a say that again. Falling to a 14 year low. Absolute arrive numbers were what . A 14 year low. Yes, sir. Wow. And how many straight quarters of the arrive decline. Im not going to speak for the company but they would claim some are empty calorie arrive components. But 16. I dont envy what they are trying to do. Difficult, hard work. But 16 straight quarters of arri revenue decline. The Data Analytics and Cloud Business havent been enough to offset declines. On cnbcs closing bell yesterday, Martin Schroeder explaining the transition is still a work in progress. Traumatic investments in r d but that