Alltime high. As you can see, it closed in the red. The dow squandering a 360 gain to close down more than 100 points tesla announcing a five for one stock split. Leading todays tech losses amd, apple, microsoft, amazon all falling more than 2 guy, what is your take on this big turnaround i would have thought Something Like this would have happened weeks ago i think the reversal is interesting. Well see if it holds up tomorrow to your earlier point, i mean you saw a pretty significant reversal right around an alltime high in the s p 500 if theres one thing i would attribute it to, dont discount the fact i think its actually pretty important, the news out of the big ten cancelling their football season. Thats pretty remarkable if you think about how meaningful it is to those schools and the local economies. I think that was part of it today and i think the other part of it is the stocks have been on such a ridiculous run, it was just a matter of time before we saw a move of this magnitu
Defense secretary mark esper faces a number of issues and south korea as he begins a trip to asia. President trump has demanded pay five times more to host american troops. Meantime, and intelligence sharing agreement between the u. S. And japan expires in two weeks. The u. S. Saw that as a breakthrough between the frequent adversaries. Brazils capital city is playing host to this years bricks summit. Convened to discuss trade initiatives, the paris climate accord, and security. The nations issued a joint shorn of committed to multilateralism and boosting emerging markets. Thelso vowed to protect United Nations role in international conflicts. Global news 24 hours a day, onair, and tictoc on twitter, powered by more than 2700 journalists and analysts in over 120 countries. Im mark crumpton. This is bloomberg. Shery live from bloomberg World Headquarters in new york, im shery on. Amanda live in toronto, im amanda lang. Welcome to bloomberg markets. Here are the top stories we are follow
Marijuana derived products is illegal under federal law. Theyre subject to antiMoney Laundering laws such as the Money Laundering control act. The last several years many states used Ballot Initiatives or referendums that legalized marijuana in some form whether for recreational or medical use. Currently there are 11 states plus the district of colombia where it is legal to buy and consume Recreational Marijuana and medical marijuana as well. And there are 22 states plus d. C. That have approved medical marijuana totaling 33 states in all that have some form of Legal Marijuana. The senators introduced Bipartisan Legislation that attempts to ease difficulties resulting from the legal status and more lenient state laws. I spoke many times with senator gardiner on this bill and appreciate the hard work that each senator has done on this legislation. And i look forward to hearing from each of you very soon. Our second panel of witnesses will highlight challenges that institutions face in b
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
The nikkei was off by. 10. Hang seng managed to edge higher by 1 3 of a percent. Shanghai comp down. 4 of a percent. Over in europe, take a check there. We have red arrows aside from italy which is managing a. 6 percent of a gain. The dax is down by half a percent. As for treasury yields, it seems to be in focus it has been in focus as we are waiting. Fed chair jay powell might say about a potential rate cut in july the twoyear now 1. 925 . Quite a steep rise considering that the recent low is 1. 696 . 195 on a close. Amazing yields. Obviously stretched lower in trade news, top u. S. Officials, talks back on the hill the first high level talks with the chinese counterparts yesterday. They continue to try to work out a trade deal people close to the conversation say both sides are going to continue talking but that existing tariffs could be, in their words, the new normal. Netflix is losing another high profile tv property next year friends is moving to warner streaming service hbo max.