Moving news from all around the world from frankfurt, to london, taiwan, our bloomberg two iowa, our bloomberg voices are on the ground. Commodities leading the charge for the quarter. Here for more is bloombergs sonali basak. Income net interest coming in above analyst expectations is a great thing for bank of america because it shows the bank is doing what a bank should do. That is loan growing, deposits growing. Investment banking mergers and acquisition fell short than expectations, but we are seeing that across the board. We want to see confidence among corporate clients now that we know consumers are holding steady. Alix what were some of the worries through the quarter . Sonali the expenses were up, but bank of america was a costcutting story. Something we are hearing from all of the banks is the propensity to keep investing because the cycle is getting competitive at this moment. Alix thank you very much. Now i want to go to the latest on trade. President trump is ready to sign
We will talk to analyst Michael Levine as he boosts his price target. Mobility tech is all the rage and uber takes one more step to becoming a onestop shop for all of your transportation needs. Details on the uber bus. First to our top story, u. S. Stocks advance. Heavyweight Technology Companies led a rebound. 100 led by Companies Like salesforce in alphabet, fresh record highs. That means that the smallcap Technology Companies are looking relatively cheap on a valuation basis. Joining us, bloomberg across asset reporter sarah ponczek. Take a look at a chart i am showing on a forward basis, looking like some of these smallcap Tech Companies look cheap relative to some of those big things we cannot stop talking about. Sarah you are looking at the forward price to earnings ratio of the s p 500 versus the s p 600 for both technology sectors. The s p 600, as you can see, trading at a discount, at the lowest level since 2001. I will say that we posed this chart to Jonathan Golub of Credit
New ceo. Largely on the and, mobility tech is all the rage and uber takes one more step to becoming a onestop shop for all of your transportation needs. Heavyweight Technology Companies led a rebound. Andanies like salesforce alphabet, fresh record highs. That means that the smallcap Technology Companies are looking relatively cheap on a valuation basis. Joining us, bloomberg across asset reporter sarah ponczek. Really i am showing, now looking like some of these smallcap Tech Companies look cheap relative to some of those big things. You are looking at the forward price to earnings ratio the s p p 500 versus 600 for both technology sectors. 600, as you can see, trading at a discount, at the lowest level since 2001. I will say that we posed this chart to Jonathan Golub of Credit Suisse about an hour ago and he said, i would not be too quick to count out these large Tech Companies. , but theaw the rally earnings picture for smallcap is likely to be a bit rockier. At the same time, many
Expected to be signed tomorrow headlines injecting uncertainty on existing tariffs and after hittinga new alltime high, apple is now the biggest drag on the dow. Well have much more on why later in the show. We are up 50 points on the dow steve grasso with us for the full hour. Steve, todays session yo yoing. The bottom line though is the deal should be signed tomorrow and the rest of it we kind of knew. It seems like the market is looking for a reason to sell off. You have bulls that want a better entry point, bears that want to push it down and any headline that allows them to do that, theyre going to roll with its about china today i think its going to be about earnings coming up if you really look at where we are in the s p, the 3300 level is pivotal and if you look at earnings, if we fall short, the market will tank and thats a big word tank is a big word. Its a big worry when you say wheres the market going or where do i think its going, i think it will be legitimate to say a 7 t
And joining us now to see what 2020 has in store is managing director, victor anthony, and Portfolio Manager at needham growth fund, Chris Retzler good morning. I look at the tech stocks that did the best this year, a lot of them were kind of underdogs, roku, top of the list coming into the year, people talked about netflix would beat up on them this year, the narrative seems to have shifted. Apple is another one people thought apple would have a bad year not only trend wise in tech whats important in 2020, are there underdog names you particularly have in mind . Victor well, mostly on small cap large cap, i see amazon, alphabet, google, facebook continue to outperform those arent underdogs. Are they no. Angies Home Services which underperformed significantly in 2019, i think another one, comscore, unforeseen event, management departures, outperformed significantly Online Dating app, the meet group, meet glad it is spelled that way different kind of stock if spelled another way. Up abo