The day with the s p 500 up 1. 3 , building on the gains from yesterday. Biotech and Technology Stocks bouncing back with ten of the 11 s p sectors trading in positive territory. And lets draw your attention to spotify, up a whopping 16 , highest level since march of 2021 on the back of its earnings beat also, check out jetblue, sinking after reporting worse than expected revenue. On the other hand, aviation engineer making air owe maker ge autos, gm up beating on earnings well take a technical look at that name further ahead. Another name, that would be tesla reporting after the bell that name along with other big tech stocks become the target of short sellers. For that we turn to kate rooney. Hi, kate. Hi, tyler the bears are betting against big techs short sellers and the magnificent seven, weekly profit of 10 billion that was an alltime high during that nasdaq selloff the tech giants mostly report this week and they are the most shorted stocks in the u. S. Markets. Thats according
Good morning and welcome to squawk alley. Carl and jocn have the week off. They will be back though joining us this morning as well, walter isaacson. Nice to have him this morning. And a lot to talk about. More red flags for facebook, twitter and other social flat forms. For example this time for former president barack obama in an interview with prince harry, obama warned against the irresponsible use of social media. Take a listen. The dangers of the internet is that people can have entirely different realities. They can be just cocooned in information that reinforces their current biases the truth is that on the internet, everything is simplified and when you meet people facetoface, it turns out they are complicated. People are comply it ca llic apparently thats what we hear. Twitter and social media and facebook and Everything Else, the question is about regulatory in particular sort of come to mind, not to mention of course the meddling by the rush shacsin the election in 2016 and
Good morning, everyone, im scott mcgrew. This is a ledger. I bought it at office depot for five bucks. You can make an argument this is one of the most important inventions in public history. Public ledgers help people keep track of who owned what property. Important in the growth of colonial america and as far back as egyptians, they allowed banks and businesses to offer credit and make payments. Today ledgers are on the computers and theres a new computerized ledger that captured everybodys attention, called the blockchain. I cannot show you the blockchain because its inside computers but all it is is a ledger, who has paid what to whom. What keeps it honest, there are copies of that laedger on computers all over. The change is reflected in ledgers all over the world. Brad garlinghouse runs ripple. Martin jiles with m. I. T. Technology review. How did i do . Is that what the blockchain is . You did a really nice job. So lots of people have heard of this. They know its important, why
Note, the hang seng. The hang seng hitting the highest level since june of 2015 during that session. The picture of europe here, inflation data hit the tape moments ago. A mixed bag. Fractional losses in germany and france. Home depot just out with First Quarter results. Earnings of 1. 67 a share, coming in 5 cents above estimates. Global Comp Store Sales were up 5 , that beat the consensus of 4 . U. S. Comps were up 6 . Wae above e home depot raising the fullyear earnings forecast. Market reaction in the currencies from the Washington Post story. I to be honest with you, i didnt buy it because what were seeing across the board is that people are willing to take on a little bit of risk. Euros are turning to levels since before the french election, yen is coming off. We saw the chart. Its been a while that the dollar euro has been strong. You can do just about anything you want in the Financial News reporting, sort of and im sure we didnt make that up. Im sure the person that wrote that
Goldman sachs. Some pretty harsh words. We have details on that coming up here. Reversal that continued from the session on monday. Really tech has beenleading the marke again today, but underperforming over the last month. We have a debate on which names in the sector are worth buying right now. And President Trump criticizing china for its economic relationship with north korea in the wake of north korea launching that icbm over the weekend. Were going to take a look at what the president s rhetoric could mean for u. S. Companies doing business in china. Thats momentarily but first, you saw it here on cnbc the fed releasing minutes from its most recent meeting in june there seems to be some debate among the fed members about when the fed will actually start reducing assets on its Balance Sheet. Joining our closing bell exchange, we have with us, peter from the Lindsey Group steve from stewart frankel, and our own Rick Santelli is in chicago. With a fine tooth comb no real surprises.