Up to deliver vaccines to remote areas. We start on wall street where the Stock Market Rally continues with the s p 500 and nasdaq closing at new record highs. Americas Top Companies are reporting better than expected results. The senate is inching towards passing President Biden s 1. 9 trillion stimulus package. And theres been another fall in the number of americans filing forjobless benefits a sign the Labour Market is stabilising. There are still huge problems facing the worlds biggest economy but investors believe the flow of cheap money from the Federal Reserve will keep on coming. The biggest problem isjust that we have 20 million americans who are still in some state of receiving Unemployment Insurance benefit so we still have a really long way to go on the labour front and that take quite a bit of time to resolve. But gdp and output may recover faster but it will take more time to employ that many americans. I think it means that for market, we now believe that for market, we
Flat tire. He is on the squawk news line. What happened . Flat tire first day back with my driver. We are on 78 which leads to the new jersey turn pike which is where andrew was the other day we are getting close to the lincoln tunnel i had to wait and have another driver pick me up. That worked. The only problem was we got a flat in the express lane we had to pull over on the median with semis going by on both sides the whole car was shaking. I was like, okay, ill never be there again. So i take it, you changed the tire i could have. The first thing i did was say, look, youve got to go over that median and get over to the right. Thats just asking for a problem. Seriously dangerous at 6 30, i will be there at 6 20 there might be a correction coming you guys can explain to me honeywell . I thought it already was it was in, it was out and back in i think this is the First Time Since 2013, well see three dow components come out. Now good luck. We are going to see changes coming i will tel
Fortt and sara eisen is joining us, working a split shift. The biggest loss for the dow since july 30th. Were back to 34. 30. Had a pretty good nice opening, john, as we got that trade deal commitment, the phone call between the reps between the u. S. And china then Consumer Confidence hits and it was just not enough to offset the best number for new home sales since 2006. Yes some things still creeping higher you see amazon a bit higher. Microsoft up about a percent alphabet, too. Adobe hitting alltime highs earlier this morning, which just goes to show, there are certain story lines in this market, sarah that continue to do well for sure, naturally, the s p 500 is positive because of those groups communication services, consumer discretionaries, financials are higher and the nasdaq just topped higher, john, as squawk alley started as Technology Goes green. I would just say on the consumer, this is a mixed picture were getting. Confident was down, all of the components of it, carl, we
Tumlin will talk about this, but last week we did have a press event with supervisors peskin and preston announcing that we will be delaying our fare increases. Obviously when we were voting upon that fare increase, we could not have understood the magnitude of what was before us and not to mention we didnt really have a path forward in being able to fund the operations, so i want to thank you supervisors peskin and preston for working with us to come up with solutions which i cannot tell you what they are today. But to look at how we can fill those funding gaps which primarily effect us in year two of the budget cycle, not so much in year one. That will be coming back to us in the future. And also with that we will not be having a Charter Amendment related to sfmta. Thank director tumlin for his work in working with the supervisors, and just say it was a pleasure to be there to represent the board last week at kirkland lard. And with that, i will turn it on to the next item. All right
And, it is one year until the president ial election and states are struggling to update election systems. What it means for voter privacy and Election Security. Uber is out with earnings and it is not a pretty picture. Shares falling in afterhours trading on monday. Growth bookings missed estimates. Also light of estimates, uber eats and monthly active platform consumers. We want to bring in tom white, analyst with da davidson, who makes a market with uber and lyft. Someone said he is a little bit surprised by the reaction given that they are a little bit more positive than negative. Your take . I agree. When you look at the top line numbers, the revenue number was really strong. What the rates tell you is that uber is cutting down on subsidies and showing the improved take rates for both rides and eats. Rides growth, booking growth, Revenue Growth all in line is a sign that they are focused more on profitable Revenue Growth. Taylor tom, you can see the fullyear adjusted ebitda loss,