Consumer, which continues to be driving the rally. I think you heard this from ceos last week. Im curious to see if we get more earnings this week. Ise you said, even if there a little bit of week this, the fed will bail things out. Atoline we are looking also what is happening in terms of thirdquarter revenue. 3. 9 5 billion. O 3. 84 billion, in the middle of that range. We are starting to digest this as a bellwether to have the chip industry is performing. Scarlet up 3. 3 . Optimism. , upng the day up about 0. 8 1. 6 today. You wonder what this means for the rest of the chip sector. You heard this from ams overnight, they raised their guidance and said asian demand was not being is impacted as thought. One of the biggest suppliers are huawei, apple, samsung. They were noted a bit of a recovery in the chipmaking second. Nearterm concerns. Fiveyear longerterm recovery for the chip sector. Caroline shares holding a after hours, too. What are you watching . Apple, im looking at which rea
Good wednesday morning, welcome to squawk alley. Im carl quintanilla, obviously a big day for earnings were watching the hill, the ftc and facebook is the big news a News Conference on that 5 billion fine over data privacy issues is going to start in awe if moments. Were going to take you to washington when that begins, but the swirl of agencies circling the company, ftc, who knows what the doj has in mind and well get a clearer picture of what the quarter looks like tonight. I dont know why it feels like something shocking is happening. Weve known this fine is coming for a long time, a big fine, but somehow to see 5 billion written down then more interesting to me, the restrictions and the oversight, the committee within facebook that looks like maybe its been structured in a way where Mark Zuckerberg doesnt have total control over this piece, you know, the ftc making the case that Mark Zuckerberg has to certify this privacy compliance every quarter, and this time if he slips up, ther
Joining us is josh brown. I think this is so important, we have this continued strength in the big indices and faang is not leading. This is the thing that everyone has always said. Its a very narrow market, only a handful of stocks. That is not whats get on this year yes, theres been huge performance in some of the faang names. A lot of that was recovery, but you have a broadened rally, something weve been looking for for a long time, and you have great rotation you still can get new highs out of the indices one thing i think is indicative of that, boeing down 2. 7 , give or take, thats the biggest weighting in the xli, almost 9 . Caterpillar, also a bad day. Thats either the third or the fourth biggest weight in the xli. Despite the xli, its doing great. You have other names picking up the slack. And that tells that theres strength everywhere. Thats really what a lot of people like myself have wanted to see. Of course in a price weighted index like the dow, they are dragging. Boeing
Spreeor the buying during chewing dotcoms first day of buying has really been seen since the 2008 crisis. The u. S. Justice department is nearing approval of tmobiles 26 billion merger with sprint. This is according to the New York Times. A group of states sued to block the deal claiming pressure on the Justice Department. Our reporter joins us from new york, what do we know . Has been the doj continuing negotiations with sprint and tmobile about how to approve the deal. Sprint and tmobile have promised to do vest a number of assets that include the prepaid phones. Also some spectrum assets to the sec. The doj torking with potentially offload some other assets. They have a list of buyers the doj would be comfortable going to. Sprint and tmobile are working with them, that includes dish and others. For ahe doj wants is fourth carrier to be set up out of this deal. Even after sprint and tmobile merge, which would take the players in the market from four somebody the doj want to provide v
Chewing dotcoms first day of buying has really been seen since the 2008 crisis. The u. S. Justice department is nearing approval of tmobiles 26 billion merger with sprint. This is according to the New York Times. A group of states sued to block the deal claiming pressure on the Justice Department. Our reporter joins us from new york, what do we know . Reporter the doj has been continuing negotiations with sprint and tmobile about how to approve the deal. Sprint and tmobile have promised to do vest a number of assets that include the prepaid phones. Also some spectrum assets to the sec. They are working with the doj to potentially offload some other assets. They have a list of buyers the doj would be comfortable going to. Sprint and tmobile are working with them, that includes dish and others. What the doj wants is for a fourth carrier to be set up out of this deal. Even after sprint and tmobile merge, which would take the players in the market from four to three, the doj want somebody