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Monopoly status in the most significant antitrust action against a u. S. Company in decades. Google says the government case is deeply flawed. Netflix plunges in late trade after losing subscribers. We get the outlook and expectations, and investors are not happy. Shery we are seeing u. S. Futures coming online slightly higher, by. 1 after u. S. Stocks rose in the regular session. It was a choppy one. We saw expectations of the next round of stimulus and House Speaker nancy pelosi now trying to negotiate that deal with the white house, investors watching that very closely. We saw the s p 500 index gain. 5 with 10 of 11 sectors rising in the new york sector. Nasdaq composite also gaining ground, despite we saw the Justice Department decision to sue google for allegedly abusing its power. All of this leading to the dollar sinking to a oneweek low, more optimism that perhaps ....
Lets bring in our guests today, arguing that stocks might not be so close to new highs for very long mike wilson, Morgan Stanley, back with us good to see you. Glad to be back. 10 correction is the most likely outcome why is that . Its a continuation from the call we made in september where we got a 10 correction. We walrallied back all this comes back to our framework. We look at the valuation its pretty full volatility has picked up because of the events they know are out there, whether its the virus, the second wave, or the election the premium we believe is a bit understated from where it should be thats all were saying. Its full here these risks are not going away for the next 30 days theyll be with us so, look, the range we put out in august, 3,100 to 3,550 holds. Were still bullish on the vshaped recovery, the call we made a while ago we think its a new bull market. But its risk reward and the risk reward for the upper end ....
Net income coming below estimates. Revenue jumped by one third. Jeff bogged shows us joins us later on. China tensions rise further. U. S. Colleges are being told to offload holdings of Mainland Companies amid warnings of a wholesale sale of stocks from american exchanges. Shery lets get you started with a quick check of the trending markets. U. S. Futures opening flat. This after reaching a record high. Finally passing the february high after failing several times in the past week. The s p 500 was led higher by consumer stocks. Propelled by tech shares. The quickest rebound on record. Fastest ever return to a record after a drop of at least 20 . We are still headed for the fifth straight month of gains. The longest winning streak since september of 2018. Take a look at the dollar at the moment. Still under pressure after it fell to the lowest level since may of 2018. Gains itte most of the got during the u. S. China trade ten ....