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Wave of protests across the country following a shooting of yet another black man, rayshard inoks, outside a wendys atlanta. All of it captured on video. First, i want to digest the market moves and bring in abigail doolittle, who has been following it all. Why such a volatile day . Abigail really a wild today. Today and overnight tonight, there was a risk off tone. There was a bit of a haven bid for bonds. Nasdaq up more than 1 . Thefixed on the nasdaq vix on the nasdaq had been above 40. At the close, below 40, so again, less fear at the end of the day. Trade, the stayathome trade. 6 , and credible, but tesla up 6 . If you believe it, that stock up more than 130 on the year. As for why, i would like to say it is something exciting, fundamentals, but that is really not the case. It has to do with the dollar. The chart in, the nasdaq 100 and white. When a dollar goes down, it helps risk assets go higher. What we had earlier today was up half a percent, now the dollar is down its call i ....
That the worst of this may be behind us. And they can start thinking about what the recovery is going to look like. Someet i know we have earnings coming out. Romaine travel companies will be reporting after the bell. On booking, what we are looking at, the g1 numbers coming in at 2. 29 revenue. That was the estimate for 2. 15. Well belowitda estimates. The estimate was for 363 million. So, no real forecast here. The company did say that covid19 would profoundly impact the travel industry. We will dig deeper to see if we can find a little bit more about any Forward Guidance for the company, basically saying they would emerge from the crisis in a position of strength. Scarlet right now, this is something that all companies are open for, to come out in a position of strength. For we go, i want to get an idea from you. This is something that Joe Weisenthal posited this morning ....
33. 5 million filed in the last seven weeks. I want to dig deeper into these results, uber inching closer to a profit despite these bad profits. I want to bring in taylor riggs. Lets dig in. Shares spiking after hours despite not good results when it comes to ridehailing. The business boosted by uber eats. You gotwhat is key is the ceo said rides are rebounding in places like georgia and texas where sheltering in place rules have been eased. Recoveryaid he sees and this was the news i was waiting for, the cfo has said he does see profitability in 2021. Lyft had been aiming for those targets. All the notes said as it comes to lyft, they were not going to be looking at profitability until the first half of 2022. To get guidance about maintaining that target in 2021 is very key. That is when you saw the stock reverse from what was a 3 drop to what is an 8 gain. Let me walk you through some of the numbers emily go ahead. I wanted to mention the business also getting leaner as a result of s ....
And double digits, softbank announced its second vision fun after its wildly popular first tech fund. How it is changing up the landscape. First, our top story, uber out with secondquarter results including a 5. 2 billion loss. Sales, bookings, and monthly users all missing estimates. Shares down to the lowest level since may. Here to crunch the numbers and break down uber eats an active users is Mandeep Singh of bloomberg intelligence. Payment fairly disappointing, what is your biggest take away . I think it was just a revenue miss, and part of that was related to the use of subsidies in their ridesharing business, i the food business. I think they have been using subsidies for a while. They have been seeing pricing pressure because uber eats is a very fragmented market. On the core ridesharing side, i think theyre doing fine. It is just the law of large numbers is catching up. To me, it looks fine. Emily i should add that the adj ....
Enough republican votes to pass tax legislation. Kevin brady says he doesnt need to exclude any major changes and President Trump will speak about taxes and a full Conference Thursday morning. Global news, 24 hours a day, powered by 2700 journalists and analysts in more than 120 countries. Markets. Heck of the australia is just wrapping up its day. , i cant hour of trade tell you briefly, it is not very eventful right now. We have a penalty place later on in frankfurt. Watch out for that. This is bloomberg. I am emily chang and this is bloomberg technology. Up broadcom ceo says the Company Remains committed to the acquisition of all, despite the rejection of the history making 105 billion offer. We will look at what is next. Uber has set the stage for one of the biggest private start of deals as softbank enters th ....