Alibaba came public in 2014. Snap, and it went off like a snap, without a hitch. Believe me, it could have been dreadful. It could have been like the facebook deal. Boo which caused tremendous concern about the entire underwriting process. It could have been like twitter, which was way too hot, too soon. It could have been like zinga or groupon, two deals that spiked as only a small amount of stock was offered, socalled sliver deals and then cost aftermarket buyers loads of money. Instead the snap deal went off pretty much like clockwork. Congratulations, New York Stock Exchange. Causing nary a hiccup for the rest of the market. Dow sinking 113 points. S p backsliding 0. 59 . Nasdaq declining 0. 73 . The stock of snap, the company that has pioneered social picture messaging opened up at 24, a pleasant, not too hot, not too cold, gold i locks like 7 premium to its 17 ipo price. It went smoothly and while you may regard the stock as hopelessly overvalued, it could have played havoc with
It has gone to aid across i am across the emirates. 4 00 a. M. In london. We are in hong kong, where it has just gone midday here. Welcome to Bloomberg Markets middle east. We have a lot happening on the currency front when it comes to asia. What about where you are sitting . When you take the dollar story and to talk about our surge, what is it doing two markets . The longest winning streak since 1990. President elect potentially went into the isis. This is the personification of fear. It is hitting a ninemonth low. Stocks are on a ripper i love that word. Has dropped. Ex is it overboard . Is it overdone . Are we too complacent . I am the grinch of bloomberg. Nothing ever is as shiny is it ever seems. 0 rates, 25 basis points, i think we should always put our money in u. S. Stocks. Europe good look better value than the u. S. With the momentum and exuberance we are seeking, it is based on model whole lot looking on what trump will or will not do. Maybe spreading a bit of fear is not t
The trump motorcade excepting to leave this morning heading out to indiana to that carrier plant where he will announce a deal to keep about 1,000 jobs at that plant from moving to mexico. So were awaiting that movement and were also awaiting any new cabinetlevel announcements. Take a look at what we know so far of the trump cabinet. You see a lot of positions have been filled including Steven Mnuchin the likely treasury nominee. I spoke to him a few minutes ago and asked him if we can expect any other announcements today. He was playing very coy this morning, wouldnt say if wed get more news this afternoon or not. Waiting on the big two, state and defense. A lot of speckation about jim mattis for the department of defense and speculation about mitt romney as a possible secretary of state. No real announcements yet. A lot of speculation on those two jobs. And then of course well see donald trump going out on this thankyou tour throughout the country over the coming days. Thats going to
Tax returns because he is under audit has been disproved repeatedly. Nina hurricane newton slammed on the southern tip of california. Tourists huddled in hotels. There are no reports of any fatalities. Emily i am emily chang. This is bloomberg west. Coming up, apple playing the waiting game with investors. Will the companys new Product Launch be enough to boost sales . We will break it down. We will catch up on the ongoing war for the cloud. And . 10 is now officially chinas most valuable company. We will take a look at the bigger forces in play. Apple is breaking its own habit. Typically, even number of years differentmatically iphone model. But the new iphone will not he a major departure from recent models. From a major departure recent models. For apple fans looking for a well product, our columnist says they will have to wait another year. Product, our columnist says they will have to wait another year. It has been an awful year for apple, at least by the companys high standards,
I think they have their priorities mixed up. Thats going to change so fast. Nina meanwhile, on the democratic side, Hillary Clinton spoke to reporters today on a flight to tampa. Ms. Clinton clearly, his tax returns tell a story that the American People need and deserve to know, and his continuing claim that he cannot release his tax returns because he is under audit has been disproved repeatedly. Nina hurricane newton slammed into los cabos on the southern tip of california. Southern tip of baja california. Tourists huddled in hotels. There are no reports of any fatalities. Emily i am emily chang. This is bloomberg west. Coming up, apple playing the waiting game with investors. Will the companys new Product Launch be enough to boost sales . We will break it down. We will catch up on the ongoing war for the cloud. And tencent is now officially chinas most valuable company. We will take a look at the bigger forces in play. Apple is breaking its own habit. Typically, even number of years