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Off earnings season. Trade war slowdown, china posting the lowest quarterly growth in 27 years and Silicon Valley tech lash from one of its own, peter teal calling out google, alleging, quote, seemingly treason ous acts well begin a new week, stocks on track to hit fresh record highs. Citi kicks off earnings season with better than expected results held by gains and Consumer Lending also in focus, china, slowest Economic Growth in 27 years in q2 gdp at 6. 2 for june, Industrial Production, retail sales, fixed Asset Investment all beat expectations, leading some guys to think maybe the Central Banks work is starting to filter in. I think so. The ....
Swing of 70. 5 points, the lowest in at least three months. Caroline down 12 on the dow. Romaine lets dive into the action with our markets reporters. Abigail, get us started. Abigail i am on amazon watch because it is the first day of the annual prime day sale event for amazon. Im watching the 1 trillion mark with amazon almost there, similar to earlier last week when it be fluent above 1 trillion. Same thing last september. This year, a huge run up. Now about 7 billion away. It will be interesting to see as reports come in whether it will be enough to push the shares above 1 trillion. Emma i was watching oil tumbling below 60 a barrel and suffering the worst loss in about two weeks. A couple of reasons for this, hurricane barry moving inland allowing drillers to restart production in the gulf of mexico but also the longterm outlook for prices was brought into focus with data from china. Economic growth slowing to a threedecade low. The trade dispute continuing to weigh on sentiment. ....
The chips are of the table. Symantec and broadcom have halted deal talks. Where does that leave them now . First, to our top story. The big story on capitol hill. Tuesday and wednesday, they will facebook on libra. Steven mnuchin taking aim at the social network. The Treasury Department has experienced expressed serious concerns that libra could be misused by money launderers and terrorist financiers. Lyft also tuesday, representatives will defend their companies in front of the house judiciary in a hearing on antitrust. Their goal is to convince lawmakers they do not stifle competition. We have charlotte from a nonprofit focused on shaping public policy. Before that, she worked at the federal trade commission. And we have ben brody. So many areas to keep track of. Libra, antitrust hearings, and a googlespecific hearing. Give us a preview of what we can expect. We are working hard to bring it all to you. One of the things i h ....
The number of female employees globally over the next five years. Why diversity seems to be the one big problem big tech cant solve. Itst, ibm has closed purchase of red hat, finalizing the worlds secondlargest tech deliver. Ibm was once synonymous with mainframe computing, but has been struggling to adapt in a cloudbased world. The company is playing catchup to market leaders and Offering Software and services over the internet. Bloombergs david westin spoke to the leaders of both ibm and red hat earlier. I think, a lot of times people think everything is going to move to one public cloud. That is not what we see clients need, want, and are even targeted to. I have an estate, like a house, im going to modernize it. And i have five to 15 public clouds already, private clouds, app, ii modernize an will put it where i want and secure all that. We give them a platform between red hat and ibm that runs on any can runand they it any ....
Earlier losses closed at a record high. Thats kind of where our road map starts as it often does investors shrugging off Global Growth concerns. Stocks set to rally at the open. And records still within striking distance. Plus, broadcom eyeing symantec, my reporting added to bloomberg yesterday which broke the story. And mine. And jims give you more details. And pot shakeup, bruce linton out, telling cnbc he was fired from the Worlds Largest publicly traded cannabis company. Somewhat extraordinary. No. Wait. Having him on talking about being fired. Want him back all right lets talk about stocks. Looking to set a new milestone this morning s p 500 on track to open at an all time high. That would be the second time this week. Yesterday the index posted its seventh record close of the year take that, Global Growth concerns, t ....