Cases surged across several u. S. States, while hong kong and tokyo report new high marks, and india considers new lockdowns. Wall street banks capitalizing on the Federal Reserves extraordinary rescue measures with record profits. Shery lets take a look at how markets are trading at the moment. U. S. Futures are coming online flat, after we saw losses in the regular session after two days of gains. We had investors continue to rotate out of this years top performers. Zero. 7 , fell about with microsoft and apple leading the losses. We had technology, the biggest decliner on the s p 500 as well. When it comes after hours trading, netflix also slumping on disappointing results. We had a couple of elements factoring into the market resurgence of virus cases factoring into the market, resurgence of virus cases, of course, but initial jobless claims higher than expected and the smallest weekly decline since march. Take a look at what oil is doing, Holding Steady at 40 a barrel, trading on
Strong results. Caroline jeff bezos and andy jassy deleting chaps amid an antitrust probe. Lets check in on these markets. This is a macro picture on the day and some earnings galvanizing a drive higher. Nasdaq up more than 2 then. We see the core pce that the fed so loves coming in line. We are not calling, but we are not exceeding expectations. The market is relieved and we are seeing about of good, healthy increase in certain stocks. A 10 year yield dives down onto the back of that pce number. Even though we see bonds indeed rallying coming yields falling lower, the dollar still resilient against the japanese yen. Will we see intervention from the boj . Moving on, have a look at what it is doing against bitcoin. Dollar strength against bitcoin. Crypto on the downside. Ed it is all about earnings. Intel is off session lows. And just a moment, ian king will give us the numbers and then we will speak to the intel ceo. Microsoft and alphabet are all about cloud growth driven by ai produ
Powered by more than 27 journalists and analysts in more than 120 countries. I am Alisa Parenti. This is bloomberg. Bloomberg technology is next. Caroline i am caroline hyde. This is Bloomberg Technology from london. Coming up, the tech selloff goes global. Investors weighing the sectors biggest names. We will analyze every turn of the worst two days contact this year. Uber ousts its head of business. We have the inside track on the surprise exit. He joins us at the launch of london tech week for a bloomberg exclusive. Lead, stocks follow around the globe led lower by tech shares. Biggeste, it had the decline in almost a year since june 27 of 2016. The slide continued in the united states. Some of the largest firms posted the biggest declines including apple, netflix, and alphabetic. Oliver renick joins us from new york. You my firstbring one. I am digging into the terminal. 9317. I am looking at the slump in european stocks, down 3. 6 . Im looking at the slump in the u. S. Nasdaq in t
Executive order targeting majority muslim countries discriminated on the basis of religion. Jeff sessions will testify publicly to the Senate Intelligence panel tomorrow. The attorney general will answer questions about his role in the firing of former f. B. I. Director james comey. Sessions requested a public event. Bloomberg will have live coverage of mr. Sessions testimony beginning tomorrow at 2 30 wall street time. This is bloomberg. Global news 24 hours a day powered by more than 2700 journalists and analysts in more than 120 countries. This is bloomberg. This is bloomberg. Caroline i am caroline hyde. This is Bloomberg Technology from london. Coming up, the tech selloff goes global. Investors blaming the sectors biggest names. We will analyze every turn of the worst two days contact this in tech this year. Uber ousts its head of business. We have the inside track on the surprise exit. The mayor of london joins us at the launch of london tech week for a bloomberg exclusive. First
Insights, and we cant resist this graphic the title wilfs world was to offset bank stories from me . I dont know. Were rivet by what you may have for us you wait. You really will be big stories. Anyway, we begin with snap falling to the initial Public Offering price, 17. Bob is at snaps close here on the floor of the New York Stock Exchange hello, bob take a look here we bounced two hours ago snap hit 17, right now, 17. 20. Public offering was covered, i was here for that at 17 march 2nd, high as 29 the next day, but started dropping, and when we got its first as a Public Company own may 10th, disappointing user metrics, disappoints growth metrics, stog stocks down here why is that important . Waiting for the tech unicorns to go public, and when you got one of these that is at 17 at its price, thats not a good sign. Thats a value conscious right nowing and with high price tech ipos waiting to go public, thats a problem now, weve had them go before their ipo price before, and you know w