Down almost 3 at one point. Jack ma said to surge up the wealth table after a mega dual ipo. Expecting to raise almost 35 billion in hong kong and shanghai viewed Sheldon Adelson rolls the dice in las vegas. He is said to be extorting the sale of his flagship casino which cost more than 6 billion. Shery lets get started with a quick check of the markets right now. We are seeing u. S. Futures opening pretty flat after we saw u. S. Stocks falling the most in the month and the regular session. The s p 500 down 1. 9 . It was the biggest drop since early september. We have the ongoing fiscal stimulus impasse, now on its third month. We also have surging coronavirus cases. Boeing falling on chinas plans to sanction the company over sales to taiwan. We have the u. S. Approving another potential 2. 4 billion of antiship missile fuel to taiwan. The vix closing above 30 for the first time in almost two months. We saw strength in the u. S. Dollar. Take a look at oil prices. Wti rebounding a littl
Busiest week of earnings thus far. Trillionlmost 16 worth of corporates reporting. We need to figure out exactly what the set up looks like. Lets do that with scarlet fu. Scarlet what we have learned so far as we are deepening in an earnings recession with more than a quarter of the s p 500 having reported. Third quarter etf down 18 . Third quarter revenue down last, but still up 4 versus last year. We have definitely turned the corner because declines in the top line and bottom line are less bad than it was in the second quarter. It may even turn positive by the second half of 2021 when the conversations become easier. The market had priced in all of these Third Quarter declines. So far, so good. 500 are topping estimates overall. Sales are beating estimates by 3 . That is the most in two years. Eps is surprising to the upside by 18 , slipping from a 23 margin in the second quarter. Gina martin adams says Growth Companies are beating estimates more widely than value companies. When ea
2 , the nasdaq down about 1 3 4 that very much in focus because of those earnings that are looming. Joe teranova, you first. Youve got dr. Gottlieb saying the u. S. At a tipping point, youve got mark meadows at the white house saying were not going to control the pandemic. Is this mountain getting too steep to climb for the market . Well, without stimulus the answer to that unequivocally is yes. Rising virus cases need more stimulus there has been overs last couple of weeks a modest broadening out of the rally within the market, but its really been all about industries, scott, industrials, trading to an alltime high as a sector but why is that . Its on the belief there would be stimulus, consumer discretionary, examazon trading towards its highest levels why is that . Because theres monetary support in the form of stimulus. It just highlights how important stimulus is. You need this mosaic of coordination to respond to the virus and any incident of rising virus cases learned itself to
Cause. To prove. Only was poisoned with. Us Vice President ial hopefuls. Only t. V. Election debate but it was a flying. Headlines. Transformed d working life as we know it so if you go speak to the president of Global Workplace and find out. With your latest global news update join us again. Social media. Millions of people together how to control what we think and how will leave without us even knowing it im joined today by tim kandel former facebook director online to zation expresident of contrasts and the c. E. O. Of moment at. Tim kandel former phase of director former president. App great to have you with us and i have so many questions for you where do we start. Right so obviously during this pandemic radar screen time on social media is way up i mean do you feel that this increase will be permanent or are we going to sort of when else once were allowed to freely roam again. Its hard to argue predict the future. I mean i think weve seen a surge. In doing this because people tur
Using technology to complete to compete for our attention which they then sell to advertisers but heres a question from someone that has worked on television for most of her life hasnt he been doing the same thing for decades now i mean i mean weve heard the same arguments against brainwashing its manipulating break throw it out isnt social media just. New sort of t. V. Yeah i think its a great question. There are a couple things that id say one is that t. V. Is just not as good at being as addictive as social media and thats for thats for a couple reasons one is its not interactive and 2 is its not personalize to us right the content that i see on t. V. Is not about my social world it doesnt it doesnt reflect. My popularity and my standing it doesnt it doesnt allow me to compare myself to other friends or colleagues in the way that social media does so social media really allows me it really it really preys on a bunch of things in kind of my animal brain that really get me addicted yo