Dorsey, and alphabets sundar pichai, are set to testify virtually tomorrow. Section 230hange could have longterm ramifications on free speech on the internet. Banned news political ads. We will ask Cambridge Analytica whistleblower as part of our special electioneering series. First, lets get a read on stocks and microsoft results. Abigail doolittle with us from new york. Big beats out of the gate. Abigail in the after hours, they are trading higher. Although i think what we are about to look at could be all over the map at the moment. They are talking about the idea that further lockdowns could hurt demands. Their Cloud Business was weak. Microsoft Cloud Business very strong. That was a piece of the beat. Maybe part of the business that could have gone to microsoft. Again, after hours, this stock is trading higher on the year. Valuation is rich, but the theter is good enough that stock is doing just fine. The s p 500 index and the dow down once again. The nasdaq climbed sharply higher
The midst of the pandemic. U. S. Stocks rising today despite no new stimulus. Yet, even shares of google. Alphabet shaken off the threats of antitrust scrutiny. Joining us, abigail doolittle. Why would google shares rise on a day that the Justice Department is filing a suit that could threaten to break google up . Abigail not the response you would expect from Investors Committee u. S. Suing alphabet usingcusing it of monopolylike powers. This is not exactly new. Theres been many shots across the bow. We have had executives from many of these Big Tech Companies testifying before congress for a couple of years now. The fact that google is underperforming on the day. At one point, it did dip briefly lower. You could make the case that it is really priced in. The stock price over the time period when we have seen some of the congressional testimony, it has underperformed some of the other Tech Companies, telling you that there could be some idea that investors are not surprised by this. W
Republicans and rankandfile members on capitol hill. Early this morning i was communicating with senior staffers in congress who are part of the socalled negotiations. They were perplexed about the president social media posting yesterday calling off the stimulus deal. Meanwhile Mitch Mcconnell reportedly saying he feels Speaker Pelosi has been disingenuous in terms of the piecemeal budget approach, calling for there to be more immediate stimulus. President trump says they would like to get more of a piecemeal approach, but it is unclear whether or not that will happen. David one thing that is clear is we will have a Vice President ial debate tonight. Is it going to be all about covid19 as a practical matter . Kevin that will likely be one of the 910 minute segments debate moderator susan page will likely discuss. She has not disclose the topic of the debate publicly or to either of the campaign. Meanwhile, the candidates as well as the moderater will be standing 12 feet three inches a
Plus, relocation, relocation, relocation. Read it has a plan to let its employees work from wherever they are. But what are the consequences of such an arrangement question we ask the ceo, steve huffman. The u. S. Has identified in iran and russia for meddling in the election. We talk about how pervasive the menace is and is potential harmful effect on democracy in our continuing to electioneering series. First, it was an ugly day for u. S. Markets. Tumbling in the worst stock rout in months. Rising cases of covid19 in the u. S. And europe and locked on measures in countries like germany and france accelerating the drop. We get the big picture from Abigail Doolittle in new york. A lot of forces at play today. It. Us through abigail over all a brutal day for stocks and risk assets on a combined basis. You mentioned the different forces. Of course there is uncertainty around the election, but i would argue the biggest force is the virus resurgence in europe. The german dax fell more than
With so many businesses working remotely. One of the biggest work from home names is slack, which has seen a flood of new customers as remote work continues. Shares had been soaring, but got pummeled in the last few days after the Company Reported a miss on feelings expectations. Ceo of us to discuss the slack. This is a pretty big move and one of the biggest selloff of slack shares in particular since you have been a public company. What is your take . It gives the backdrop of a lot of volatility. I definitely think the billings missed you mentioned is important. We were a pretty young company, 6. 5 years old. We are coming into our sophomore year. There is rightfully a lens of skepticism on whether this growth is durable. Happened this quarter is different. We had the pandemic. Record unemployment. New paid 8000 net customers in the quarter. That brings the total to 130,000. 130,000 businesses, they are small and medium businesses around the world. They more accurately reflect the br