Into big tech. Lets get the detais with ylan moye. We have confirmed that the department of justice is announcing a broad antitrust review of big tech likely to include amazon, facebook, google and apple. In a statement, it was set that without the discipline of meaningful marketplace competition, digital platforms may act in ways not responsive to consumer demands. He went to say that the departments antitrust probe will explore these important issues the focus of the new inquiry will be whether companies reduced competition, siefld innovati stifled innovation or harmed consumers. The companies were forced to testify on capitol hill to defend themselves against allegations that they are monopolies just this afternoon the congressman leading the effort, david cicilline, criticized the answers as evasive, incomplete or misleading. Now the Justice Department is launching its own review it is not officially an investigation of any Single Company but it could lead to that back to you. Ylan
Sachs. Weve got tech giants, and microsoft, plus dough laggard united health. Do you trade or fade these names going into the Earnings Report we thought wed kick off monday strong with a game of trade it or fade it. Monday, right out of the bat. Right out of the gate netflix, guy adami, trade it or fade it . Trade it, see that, you thought i was going to quiver. I think weve been steadfast on this my concern prior to the last couple of days, heres a stock thats gone from 250 to 380 in a straight line. The selloff the last couple of days has me somewhat encouraged. People are taking profits into the quarter. I think its wrong i think their International Net adds will continue to dominate and impress people all the competition talk two or three years away, the Stranger Things which ive never seen, apparently everybody is watching now. I think the franchise is strong. Yes, they have a debt problem. They have a huge mote. I think you buy netflix. You know what, im actually right with you h
Shame on you second, it was a wild ride the dow finishing up and then finishing lower, all this because of what else, the federal reserve, fed chair Jerome Powell and other officials tempering hopes of a rate cut dow and s p posted their worst days of the month. It was the nasdaq, some of your favorite tech stocks took the brunt of the beating the faang, bit microsoft, alphabet, down 3 facebook off 2 . You get the picture. Guy adami. Yes, sir. Fracas, fracas, what do we make of what the action was today . Is that how sensitive this market is to the fed thats the refor t rhetorica question the fact that we get to 2950 again and again and fail, i think it is problematic. We do it when the vix gets down to 15, pete can speak to that, levels where the last six to eight months the market has topped out i think the market is overestimating the power of the fed. I think unless we get a trade deal, which i dont think were going to get, i think we roll offer at these levels. You just gave a lot
Today. Lets get to the Global Markets report u. S. Equity futures right now are looking a little bit lower dow futures indicated down by 68 points this comes after the dow closed above 23,000 for the First Time Ever and it did so in a powerful way with the dow gain of 160 points yesterday. Right now it looks like the nasdaq is indicated to open down by 31 points the s p futures are indicated down by 9 points overnight in asia, china reporting Third Quarter gdp growth of 6. 8 , in line with expectations, but you can see a pull back in both markets. The shanghai composite off by a third of a percent in japan, stocks closed higher again, up 0. 4 21,448 ibm, that was almost 15 points, 5 in the morning, 6. 7. 9 at one point. Cramer was going nuts there were all the naysayers, after 22 straight quarters of declining revenue and still there and there were the questions about the tax issues those were the consensus, cramer against consensus, saying it was more about the next quarter and the In
Board here to europe, except the ftse. Look at the trade in crude. Wti and brent trading slightly lower. Here are the big stories were watching today. The tunisian man suspected of committing the berlin Christmas Market truck attack was killed in a shootout in a suburb of milan. Italys interior minister said there was no doubt the man killed was the suspect, anise amri. At home, shares of Lockheed Martin are falling after president elect trump tweeted about the f35 program. Trump said based on the cost and cost overruns of the f35, he asked boeing to price out a comparable f18 super hornet. Lockheed did not comment on the tweet. In a statement boeing said we have committed to working with the president elect and his administration to deliver the best capability, deliverability and affordability. A comparable f18 is tough. The super hornet doesnt have vertical capabilities, its traditional why are you looking at us like that. I get kind of turned on its kind of cool you know this stuff