Morgan brennan and jon fortt at post nine. Market improving on headlines from larry kudlow. Facebook, amazon, alphabet trading 7 to 15 below peaks on that, we turn to mike santoli about what it says about big tech valuations. Valuations moderated, sentiment has turned i think mostly were talking about alphabet, facebook, and amazon opposed to netflix. Analysts talk about potential some of the parts type valuation. Break up value Type Analysis of the companies, not because they think theyre likely soon to be broken up, want to surface the idea theres value not recognized in the markets. It was emblematic, saying google cloud partners is worth 225 million. If you buy into that, is Amazon Web Services worth all of amazons market cap . You can go on with the conventional wisdom that facebook was somehow broken up, someone some of those off, maybe the sum would be worth more than it is now, right so i think this is mostly a wall street exercise. But it shows you that faang became faang beca
Democrat, were willing to accept extraordinary disadvantages to american jobs. Billionaire telling the fed, they are, quote, screwing savers and says donald trump is wrong for his attacks. The president is doing a lot of wrong i wrote down yesterday, i said Consumer Confidence is up, retail confidence is strong, consumer net worth is at record levels, economy is growing at trend. Rbs investors welcome allison rose to become the first female ceo of a major british bank. Sterling hits a twomonth high after they say a brexit deal is possible hes open to a deal that might replace the irish backstop good morning the u. S. Vice president mike pence told cnbc at the alpha conference that President Trump is defending economic interests as they resume trade talks in washington, d. C. Today when it comes to china, it is a whole different ballgame we run 500 billion trade deficits with china and we estimate we lose almost as many in intellectual property theft almost every year. What the presiden
Are watching. Range charte is the we looked at. He s p 500 unable to get above last years all time highs, we have a set this year stalling again, the r. S. I. Putting in a bearish set of lower highs telling you bullish is simply rolling over. The bears stepping in. 50day the s p 500, the moving average today suggesting we could see the s p 500 drop range, we were just told about an option trade that suggests some traders are 2700, one reason to think that could happen, take a look at this chart of the s p in white and the i. S. M. Manufacturing data in blue over and we see e years that they roughly tracked each other over the last couple of the , the s p 500 rising, Manufacturing Sector expanding above 50, but more recently here course, have two months of contraction for that sector, huge divergence, it could be a bit painful for stock investors, taylor. Abigail, im looking at the stocks index. T was better performing than the average, up. 8 of 1 . Is after analysts over at microchip g
And george mason university. Hes a Bloomberg Opinion columnist and has written regularly for the New York Times and contributes to a wide number of newspapers and periodicals. His previous books include the class and great stagnation. In his new book big business, he examines the tension between the lack of trust in big business snd big businesses in the American Economy. He argues that corporations despite americans ambivalence towards them are inessential and balanced, productive and Oppressive Society by spurring innovation, rewarding talent and hard work and created the bounty on which americans have come to depend. The Deputy Editor of Harvard Business review writes tyler cowen mounts a defense of big Business Finance and the tech industry. Both of their critics and defenders will benefit from b ts book. Cowen will be joined in conversation tonight by edward, u. S. National editor from Financial Times and author of the retreat of western liberalism. Please join me in welcoming eit
That corporations despite americans are essential in balance, productive and Progressive Society by spurring innovation, rewarding talent and hard work and creating on which tech come to dependent. Tyler cowen with finance and tech industry, both critics and defenders will benefit from reading the book, cowen will be joined by edward, u. S. National editor for Financial Times and author of the retreat of western liberalism. Please join me in welcoming tyler cowen. Thank you very much for the introduction. Delight to be here with tyler. Ive met tyler a million times, have met many years, we dont always agree with each other. Disagreeing without being disagreeable and far more manageable at the end of it. We do agree on some things. I am going to get into productivity. Let me quickly emphasize tylers productivity. Wonderful book in 2011. Weve had your complacent, we couldnt have no, about every 3 years. Things speed up as we get older. But, anyway, that is a lot of books, one thing i wil