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We were down 5 from the peak on spx. Where we are is about where we were on valentines day. Of course, you do remember valentines day. That was prepandemic. All we have really done is pulled back to the prepandemic. Weve got to put some perspective on this as we saw the dow down 800, 900 yesterday. Jonathan im not sure why i am the target of room bring valentines day of remembering valentines day. Its you im worried about. Tom that would be true. Jonathan because you often dont remember it. Tom that would be true. Rosesgh i do remember a scenario with jon years ago. Lisa you are trying to bring me into this . [laughter] for those in engineering and history, this is a hugely emotional deal. The difference from san jose to santa clara, it is like four, maybe five miles. But xilinx is one of the storied names coming out of fairchild years and years ago. To see this merger today, 35 billion large, it really says something about the combination of all of the history in the bay area. Jonatha ....
Worldwide, and television as well. A bit of a fog and rain in new york. A fog towards the election seven days on. After the carnage we saw yesterday, we really have to recalibrate where we are because we advanced so nicely for it yesterday. It really isnt all that much of a pull back to, is it pullback technically, is it . Jonathan lets be clear, the s p 500 might be bouncing back by about 0. 5 , europe is not as all. Not just the caseload, but also the restrictions around the continent. Europe has a problem. I keep talking about this. Theres a real issue in the european economy. The recovery had already lost moment him just lost momentum. Then you throw this on top already lost momentum. They need for this on top . It doesnt look good. Ecb that gets to in meeting. S of freedom that Christine Lagarde has gets ever more narrow, doesnt it . Jonathan keep financial conditions loose. What i found fascinating, and guy and i went bac ....
Rose. Microsoft saw a better First Quarter revenue, helped by demand for Cloud Services as more people work remotely. Sales through september topping 37 billion. Melbourne, the merge from a melbourne emerges from a strict lockdown. Ours and restaurants are reopening, even home visits are allowed. Shery lets get you started with a check of the markets. U. S. Futures opening lower, down. 4 . This after stocks fell to a three week low in the regular session. We had cyclical stocks taking the brunt as virus cases continued to climb globally. We have the nasdaq composite pulling back of yesterdays losses on the deal around amd. Durable goods orders coming in better than expected. Lets see how things are shaping up for the asian markets. Here is Sophie Kamaruddin in hong kong. Sophie we are seeing losses continue here in asi ....
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 ....