Themselves as a platform investors seem to be buying it with that stock up 13 this week it just keeps going up nearly 4 today and it laid out the case for longer term growth and ironically, it will come from the good old phone, right a lot of that conference was focused on the zoom phonewhich basically enables you to take it wherever you go. And there is s ais an axios rept saying that uber may be looking to celebrate its elevate unit, the moon shot flying taxi unit it reflects obsession with profit ability, but i might argue that it reflects his obsession to please sharehold s shareholders backing away from some of the longer term ambitions such as freight, elevate now and as well as selfdriving cars, it does raise a few questions. Yes, it may give the share price a bump in the short term, about where does it position uber lon term yeah, when these companies dont have a clear business Start Talking about that were a Media Company or a Helicopter Company or were a freight company, real
Tech stocks taking a pause this morning. No love for the electric vehicles this week, either then there is the tech eco systems. A new Software Brand storming the castle of apples app store. Huge announcements ahead as besos and Company Refresh their Consumer Device lineup what to expect from alexa and amazons ai. Well have that here on squawk alley. Were going to begin this morning with that story on the Apple App Store challenge as Companies Like spotify, epic games, and match group join together to create a coalition for app fairness casey newton of the verge for now, at least, joins us this morning fresh off of announcing he will start his own newsletter called platformer. Give us a little preview, and congratulations, its almost like a labor union that these companies are forming to take on apple. Do you think it will work . I think it has a better chance of working than anything else we have seen in this regard to date. I think their analogy is a good one, right apple really is m
From pfizer and after the aresa zenica coming up, the ceo of caesars will join us exclusively to discuss that partnership and the path forward for vegas plus, shares of Advertising Software Company Trade desk are up more than 50 on the year up more than 200 from the march lows were going to talk to that companys ceo, find out what that move is all about how they managed to outperform and whether the underlying business is looking as strong as the stock. First up though, lets focus on the big stories in this final hour of trade. Mike santoli tracking the Market Action julia is covering new developments in the oracletiktok saga and josh lipton on information on nvidias deal to buy arm holdings start with the come back for tech and the overall market. A pretty broad and strong rally. You have a little psychological boost from that m a. Im not sure it would change anybodys find if you were bullish or bearish coming into the week it is operating under the level where we closed the friday be
Theyre all moving lower put on the positive side, a report that china will accelerate agriculture purchases from the u. S. Which could deescalate some trade tensions and were set for a particularly volatile final hour of trade this is the s p 500s first major options and futures rebalancing day of the year. We have 59 minutes left. Were down just over. 5 sara coming up on todays show, pressure mounting on apple over the treatment of App Developers weeshgs going to speak with Roger Mcnamee ahead of the Developers Conference plus, david kenny holds not only the companys ceo title but also the chief diversity officer. Hell discuss neilsens recognition of juneteenth and how they can push for more diversity in the workforce and can figure out a way to measure it as well lets get straight to the market another volatile session to close out the week on wall street one that is headed for another upweek mike santoli is tracking the down action weve seen this afternoon. Yeah. A little fatigue th
Most expect it to end in the Fourth Quarter of this year. If that does not happen, that could really take a chunk out of the rally and make 2020 difficult. Plus, trade. That agreement still has to be signed. President trump indicated that could happen over the next few weeks. Then we are looking at phase 2. 2020 could bring some new risks that are not priced in, at least not now. Kurt certainly something we will be following. Thanks to bloombergs Abigail Doolittle for that update. The final stretch of the Holiday Season and shipping deadlines loom. Amazon cites a decline in fedexs delivery performance. Here with us, spencer, who covers amazon for bloomberg news. What is happening here . Spencer you basically have a big fat vote of noconfidence in fedex from amazon as we enter the Holiday Season. These are the dates that people decide, will i buy this online and hope it gets here in time for christmas or not. Amazon has narrowed the amount of time people are willing to make that call. A