Good friday morning. Welcome to squawk alley. Carl quintanilla with jon fortt at post nine of the New York Stock Exchange morgan has the morning off were going to start this morning with apple, with the companys latest slate of iphones hitting shelves this morning. Josh lipton is at the apple store in San Francisco where i think theyre just opening, right, josh . Reporter thats correct, carl were here at one of Apples Stores in San Francisco. Doors are just opening i will step out of the way so you can check it out three new iphones officially hitting shelves today, carl. Faster processor, longer lasting battery, better camera, the toughest glass in a smart phone, not just an iphone, but smart phone, period, according to the company. The big question for our audience, traders, investors, business people, did apple do enough to keep the iphone franchise stable over the next few quarters i checked in with mike olson he bets apple has done just that he is looking for iphone revenue to be
Perdue joining us along with Arkansas Attorney general leslie on the bigtech antitrust lawsuit plus newly chief Financial Officer whitney on new data connecting restaurants with suppliers. We are looking at declines, dow industrials off of the lows, 40 points on the dow this morning, s p down 4 and a quarter and nasdaq lower by 17. President trump hit campaign trail in North Carolina rallying for republican candidate dan bishop for congress in state special election today, the president sounded off on u. S. China trade and the economy. Watch. More americans are working today than ever before in the history of our country, almost 160 million americans, weve now had 13 straight months of wage gains of at least 3 , wages are going up, the economy is doing great and jobs have never been better. More than 7 million americans will be lifted off of food stamps. Nearly 600,000 americans entered the labor force last month alone. China wants to talk, they want to talk. China lost 3 million jobs,
For example, healthcare, medical access and Senior Housing and similar to what tonya was discussing on the private equity side, those sectorfocused funds, we think, you know, our data has shown that those sectorfocused funds have generated more than the diversified funds and also gives us and staff the ability to tail tailor the portfolio more than we could if we were looking at diversified funds. Thats an interesting tabernacledynamic,maybe a benefe market. That isnt to say moving away from the funds and theres approaches to having both on the portfolio works pretty well and some of those diversified managers have proven to be good at pivoting from one sector to another and much more nimble than we could in terms of allocating a specialfocused fund. So i think the combination is attractive. Just touching on the market environment, i dont want to spend too much time but similar to private equity and most asset classes, real estate is fully value and real estates across markets and prop
Stocks died. , 15s fall the most billion wiped off the board. Will the streaming giant recover . Our top story, microsoft shares topping after fourthquarter results that topped estimates. Strength inontinued the cloud business. The ceo is working to keep up a steady flow of cloud deals to narrow the gap with Market Leader amazon and offering bundles including office, windows, and other Security Products as well. To unpack it all, we are joined by cloud reached ceo aaron paynter, who spent 14 years at microsoft in the u. S. , brazil, france, and china, where he served as gm for a few years. Also, a reporter from bloomberg intelligence. Another big order from microsoft as expected. What is the top take away . Almost every line item was good. I mean, we did not find any mistake in the quarter so far or anything negative. The digital deal is going to be guidance and seeing how they can the big deal is going to be guidance and seeing how they can come up with First Quarter numbers and the n
We are not in a position where some public Pension Plans are paying out 5 . We have a better illiquidity for that. The payoff for that return is on page 19 of the cambridge report. There is a powerful positive cash flow driver when you start in year 2 2022. I wanted to explain the rationale for the strategy. I will turn it over to the board for questions. This is not an action item. Is there Public Comment . I have been coming to meetings over two years and listened to the mum bow jumbo. All of the people are all active money managers. How communevehowhow come there e from vanguards, price. You get more information over the long. I just told you that vanguard, s p 500 in the last 30 years, less than 1 of the s p 500. My recommendation is start inviting passive money managers, and i think your outlook on investing will change. That concludes item nine. Item 10. We are probably going to lose a quorum in 55 minute, we have nine action items pending and five nonaction items pending. I woul