Trevor right now the coronavirus is giving us good and bad news, like getting laid at the family reunion. Lets get straight to the bad news. Were passing a staggering 10 million covid 19 infections, the highest in any nation. Past week, 74 americans were diagnosed every minute. Countries across europe are struggling to keep covid 19 at bay. France has reported its highly daily death toll since the start of the second wave, and the weekly death toll in england and wales has jumped by 41 , sur surpassing 1,000 for the first time in june. In utah overcrowding intensive care units forcing the governor to declare a new state of emergency. I am placing the entire state of utah under a mask mandate until further notice. Trevor thats right. Corona is blowing up in europe and america again. In fact, its rampaging across the western world so hard that scientists have had to invent new shades of red for the covid maps. Right now the midwest is blood meets fire engine but the east coast is only at
For those two companies, it was a tale of two different big tech quarters alphabet has certainly been the laggard this year. Underperforming not just its big tech peers, but the nasdaq amazon has been a standout, 70 gains. Alphabet had a low bar and amazon had a high one. Did they deliver we can look at a number of metrics, what i want to drill down on particularly is cloud. These are the companys newer growth engines cloud numbers came in only in line with expectations revenue up 29 year over year. Love large numbers but google cloud, revenue was up 45 and now the company is going to break it out as its own segment. Have a listen to what was said last night. Given the progress we are making and the opportunity for the cloud in this growing global market, we continue to invest aggressively in our gotomarket capabilities and extending the global footprint you will see information about the scale of our investments so investors are going to be able to see exactly how much google is inves
Thematic global team if you were looking for big tech to come to the rescue today, youre going to have to look somewhere else that is your picture right now with the nasdaq getting hit the hardest, down more than 300 points, 2 3 4 look, this is not what we wanted people like me have been talking about the broadening of the rally. You were getting that but this week youve had the down side, which we didnt want to see of tech giving up gains its been the whole week, right. Microsoft had a bad reaction to earnings having said all that, i dont think at all that youre supposed to throw in the towel on these big tech nailmes. I think their value iations arer the most part defendable and theyre trading on lack of fiscal stimulus and the virus surging as it is on the earnings number if you want to take apple, theres a reason why they underperformed on iphone sales people are saving you for the iphone 12. And amazon, they have a quarter every now and then where they say were going to spend a lo
Lisa is off today. Jonathan look at the goldman note, tom. Go over that. Tom roaring 20s from goldmansachs. J. P. Morgan talking about market nirvana. Lets look at where future are right now. S p 500 futures this morning, kind of chopping around. Positive. 7 of 1 . But here we are at 3567 and ldman coming out, tom, for 2020. Lut lets go with the year end 2021. 4300. 16 upside through 21. In addition to the upside in the year end. Jonathan again, its everybody readjusting hearing, yeah, its a vaccine and i know he likes the value and e. S. G. Its got to be more than the edical news. Jonathan a vaccine is a more Important Development for the economy and markets from the perspective policy of a biden presidency. This is historic for the market right now. We talked about it reapedly, this market is living in the ackhand of the 2021. The deterioration of the covid cases and a contested election down in washington, d. C. That has not been resolved yet and a senate race that has not been reso
California joins texas reaching one million infections. Picking a statement, President Trump bands investments and firms controlled by chinas military as u. S. Election Officials Say the vote was the most secure in american history. Welcome to the program, happy friday morning. Under one hour until the start of the cash equity trading session in europe. We have a mixed picture in futures. European futures looked negative. Yesterday u. S. And european stocks dropped around concern to the extent we may see new lockdown measures in the United States. We have a futures picture where europe is weaker, wanting to play catchup with latterday losses in the United States. U. S. Futures. 2 the upside. U. S. Futures point two the upside. Nasdaq futures are treated like havens during the coronavirus. Lets look where we are across the broader assets, weakness in china. President trump in the last few months of his presidency, focusing on the things he can still act on. China mobile and telecom fall