On wall street, and squawk alley is live good friday morning, welcome to squawk alley. Im Carl Quintanilla with john fortt, Morgan Brennan is at post 9 for the hour, sara eisen is off. S p 500 tech sector is the best performer this year by a long shot, up almost 40 . The question is, will this continue into the new year mark mahaney joins us to start off the hour, just published his 2018 internet sector outlook mark, always good to get your take happy friday good morning, carl. Whats the headline on this one . Going into 18 we have three constant and one change. At least for the internet aspect, theyve been extraordinarily consistent and we think those Revenue Growth trends can continue into next year second, the multiples are the same they havent changed over the last three years, which should mean the outperformance weve seen in the stocks to date, its all bottom line driven or Revenue Growth driven. Theres less downside risk, despite the outperformance going into 18 and the third th
I think it will be a pretty polished sort of thoughtful speech as opposed to just offthecuff. There is a lot of anxiety. You may have detected it already about the kind of tone that the president is going to strike. What kind of tone would you like to hear from him . I think hes basically economically focused. With theconsistent World Economic forum. He has spent a lot of time in that area whether its on tax reform which was successfully and whether its getting rid of regulations and other things to boost economic growth. I dont know what is in this speech. I would assume there will be a bunch of time spent on those and the goodness that can happen when you get an economy growing at a much faster rate than we did for the previous eight years. Erik blackstone is a global investor. You travel the globe almost incessantly. Is there a risk to the president and the United States if he were to beat the America First drum too loudly . I think it has been pretty loud. I dont know that you coul
Prosecutors will need three weeks of trial to present their case against x Trump Campaign officials, Paul Manafort and rick gates. They have pleaded not guilty to charges they violated federal monday Money Laundering and lobbying laws. They were placed on house arrest and released on multimillion dollar bonds. Areecutors in south africa trying to convince a court to double the prison sentence for oscar pistorius. Told the court that it overemphasized the olympians the disability. He was sentenced to six years in prison for the 2013 murder of his girlfriend. Global news, 24 hours a day, powered by more than 2700 journalists and analysts in over 120 countries. I am mark crumpton. This is bloomberg. Julia live from bloombergs World Headquarters in new york, i am julia chatterley. Scarlet i am scarlet fu. Joe i am joe weisenthal. Heading for the longest weekly gain since 2013. What you miss . The labor market is back from the hurricane effect. Michael feroli for the analysis. Congress came
10year, we have Michigan Confidence on the way in an hour futures pointing to a lower open, the fate of tax reform and progress spooking some invest investors. Taking on netflix, disneys yet to launch screaming service. And forget black friday, the Worlds Largest 24hour Online Shopping spree getting under way in china today with more than 20 billion worth of sales forecasted futures are in the red looking to extend yesterdays sell off as uncertainty over tax reform appears to be taking hold on wall street the dows drop was first in eight sessions and both on track to post their first weekly losses in about nine weeks some of the coverage over the senate bill, mike says looms a showdown looms between the senate and house. I think the challenges are more in focus than maybe the potential opportunities. I do think yesterday interday, you definitely got that little ripple lower when it seemed like there was going to be delay in the Corporate Tax rate cut but in general, i think the market
Great reporting by alex sherman over the last few days for this. The verizon sale will not include yahoo cashiers in alibaba, and verizon will be integrated with aol. Alex sherman is joining us now. You scooped this on friday. Talk us through what happened in the last 72 hours because there were still stumbling brocks tumbling blocks on friday. Alex verizon was always a favorite and we have been talking about that since january. Verizon upped its bid. In the last round of bids, verizon was still only bidding between 3. 75 billion and 4 billion. That was not the high bid. Yahoo had more or less put pressure on verizon saying if you want to buy this thing, you have been the presumptive buyer the whole time, you have to step up and increase the bid. We realize you do not want the nonessential into little property that is not part of the deal, but you still have to bump it up a little bit. Verizon figured when push comes to shove, at the very end here, that is when we will make our move. B