Beijing praises the decision while President Trump says he is not a fan. A focusson says now on his cabinet lineup. And plans for structural reform. Are seeing a lot of investors sticking by the sidelines, a quiet session in the u. S. Overnight. Wall street hanging out to see what further guidance we get from the fed after their decision. A great chunk of investors will be waiting for more details as to the revamp inflation target. We are seeing futures trading flat. This after we saw u. S. Stocks rising. The s p seeing a Third Straight session of gains. For a change, we saw gains across tech, outweighing the decline we saw across financials. Treasury yields at the dollar end of the day, where they started. We are seeing the likes of the dollaryen holding steady, this as we look set to see the appointment of yoshida suda as the new japanese Prime Minister. As well as hearing more about whether we will see continuity across his cabinet appointments. We are watching at to see if another
Buyer beware, ipos that have doubled do not have a great track record after the debut. Plus the president and tiktok, he says hes not prepared to sign off on anything for an oracle tiktok deal. And wall street poised for a sharply lower open following the feds pledge to keep Interest Rates low for years and Technology Stocks do lead the declines speaking of which, jim, sounds like your conversation with joe a moment ago kind of rings with what Credit Suisse says today about tech valuations overall, that is that there is some excess and theyre lightning their weight at least on software. I count 30 companies that are selling at 30 times sales and then theres a number, even more, maybe another ten that are selling above that, 50 times sales for zoom along comes snowflake at 100 times sales. You just have to put the stop sign up because what it says is theres going to be so much supply that is coming. Look, if you own a company youve been waiting for it to come public you just got the gre
Good thursday morning, welcome to squawk alley. Stocks did take a leg lower at the open the s p bounced right off of the 50 day well watch that closely but were off of the low levels of the early session. Here is the president yesterday on oracles deal with bite dance stands you said it was important that a u. S. Company buy tiktok. Were going to find out about that were looking at that from the standpoint of bitedance. We dont like that conceptually we dont like that. That has not been told to me yet. That has been reported but not told to me speaking of reporting, david faber has more of that for us. Not a lot of insight on that key question siting a source close to the deal, the conversations, that have been ongoing for awhile now. The president is most likely to make a decision in the next 24 to 36 hours. Not likely today, but prior to the weekend, im told, by someone familiar with the situation that he will make a decision as to the future ownership of tiktok here in the united st
Alley were seeing more push and pull this morning in this case the dow and the s p are green. Were getting decent bounces in names related to travel. Of course the covid cases out of florida at 11,000 plus is not good, but it has been off set by the data out of gilead lets talk about where were going in the coming weeks. You have been riding names like facebook and alphabet and is any of that betting tired the nasdaq 100 has bet the s p for ten straight months. At this point i think the s p this year is down 1 and the value index was down we started our careers at the same time. We saw the tech bubble we saw how bifurcated it can get. We saw how they still have value. Other companies doing exceptionally well it is not available compared to what we see in other sectors what is an example of that . Lets take leer if your family owned the business, you would say we made a billion and a half dollars a couple years ago and a few years from now we will again, but the market is offering to bu
Miss. While streak drills wework, facing questions about its finances. We get a read on investor appetite ahead of a potential ipo. First, shares of qualcomm falling in after hours trading after the chipmaker gave a downbeat fourthquarter sales forecast. At the highend, qualcomm is looking at 5. 1 billion sales. Analysts predicted that is in 5. 7 billion. Line with a warning issued back in april. Demand for smartphones, particularly in china, would be weak ahead of the introduction of 5g. Joining us is mike regan and sarah mcgregor. Explain whatf all, we are seeing driving this drop. How much does it have to do with china . Mike the revenue forecast for the current fiscal quarter was very light. The eps for the quarter also really light, and adjusted eps of as much as. 75, and the street was looking for 1. 10. It boils down to qualcomms basic business model. It has a controversial practice selling chips to manufacturers, they license chips to them, and they want royalties equal to a ce