Headlines and what it means for markets with our markets correspondent, abigail doolittle. Tech continues to outperform today, and it is something we have seen in recent weeks. Where is the leadership tech typically provides . It was not there on the day. That has to do with one of the headlines you were talking about, ratcheting up tensions between the u. S. And china. They have been there in recent weeks, but markets ignoring it to some degree. Last year, every other week risk on, risk off, depending on the headlines. Right now, there are concerns those headlines, the war of words between the u. S. And china, taking down tech. A lot of these Companies Receive quite a bit of revenue from china. Apple, the tech heavy weight received about 20 from china. The ship sector chip sector is super sensitive to china. We see the s p 500 tech index down more than 1 . The stock down even more. Over the last nine days, we have seen a real roller coaster ride. Last week was risk off. This week we h
I swear people are bored with what is going on with the stocks including today where the dow gained 105 points. Nasdaq falling 1. 5 . You know what i feel like doing when i see these numbers they are all napping. They are napping. Either they dont want to say anything good about the market because of politics as the president has done a good job of linking himself with the performances of the averages or they are prone to sleep. No matter how good stocks get it doesnt seem to hit their radar screen. I was on the case last week. San diego not bad. All i heard was bit coin, bit coin and bit coin. Cramer, how about bit coin. Cramer, bit coin, is it too late is it too early . Never stop. The market is an abstraction for most people. The truth is if you are bored by this incredible rally may i suggest that you get your head examined all aboard. 53 of the people in this country have exposure to stocks. While i wish more americans could afford to participate in Wealth Creation that is the sto
Throughout the hour. Other news, google, bright spot in todays tape. Not everybody is happy about the tech giants restructuring and changing the Holding Companys name to alphabet. We have someone who says these actions will come at the shareholders expense. He happens to be one of those shareholders and hell explain what hes talking about, coming up. As those shares still up 4 . A rare green spot in the session today. Yes. Cyber security meets insider trading. We have the details on charges against nine people allegedly involved in a multimillion dollar hacking scheme, coming up as well. That is huge. That is a huge case. We start first with the chinese currency being devalued by nearly 2 officially. The markets have done otherwise. That move from the peoples bank of china sparking todays global selloff of ek quities and commodities. Mark chandler, welcome to you. Walk us through the impact how will this cascade throughout the Global Financial system . A lot of uncertainty. We make a d
We have the world covered here on daybreak asia with the wrapup from the trade ministers meeting over the weekend. Help President Trump fared in riyadh shortly. This is daybreak asia. I am betty liu in new york. A. M. In just after 7 00 hong kong. Political risk will be dominating the headlines once again this week. The first leg of President Trumps middle east trip. It seems as so far so good, the opec meeting, the fed meeting this week, but plenty on investors place. Ceos like lots and lots of money being invested in their own home country, so pretty smooth sailing as you say, but there are still a lot of questions about the Political Risks. You saw Goldman Sachs taking down their target for the 2. 75 , ayield down to bearish a signal there. Markets have been choppy, but we have not seen total collapse. On jamesld depend comey when he testifies this weekend whether we get new information over the russian meddling scandal. See how things going. Asia kicking off so far, following the l
Answer. First of all of mr. Keen what is the question . Guest the question is what should be operating system be in our country the commerce economy. Host why is the internet not the answer . Guest the internet is not the answer at the moment. Its not the answer because in effect its not working currently. Its lending itself to undermining jobs. Its compounding the inequality of our economic life. Its creating new massive monopolies that were unimaginable in the 20th and 19th centuries and it has created this economy in which we have all been, all Internet Users have been turned into products. You and i have been packaged up. We have become the product like a big hitchcock movie. Host what you write in your book is that Silicon Valley in 2014 has all the social and economic hierarchies of 1914 without any of the social constraints of the old aristocracy. Guest yeah i think thats a really interesting point. Its an interesting point in the sense that the old aristocracy had a sense of ob