The auto sector. Ford and nikkola news coming your way just about to flat line with 59 minutes left in the session. We have a big lineup of ceos coming up on todays show. Dan rosensweig on the back of cheggs earnings it is a moon shot. Then the head oof another stock that has been on a terror, henry ji, ceo of Sorrento Therapeutics and its a huge earnings news, disney, nikola and well speak with the ceo of ww right after the numbers hit. We have 58 minutes left of trade. Mike san totoli is tracking act and phil lebeau. B mike, start us off with the Broader Market it is flat. We alternate the days between when the indices look better than the majority of stocks and days like today when the indices are doing nothing but holding near the highs take a look at the s p 500 here we are on a year basis. You have the pop and turn pattern. You pop above the highs and then chops around right now were above that june high 3350 or so would be a 50 rally off the closing low for from 23rd that is 19
Yeah, President Trump started promoting mask wearing on twitter. A major shift and the stocks have been fitted from a reopening economy are higher today and thats how the dow jones gained 160 out performing the s p 500 but trouhe nasdaq. the cramer covid19 index is out. The recovery stocks are in at least for today our country has the worst coronavirus outbreak because we turned wearing a mask into a cultural issue the president tweeted a stark black and white picture of himself wearing a maface mask wh the explanation saying many say its patriotic to wear a face mask when you cant social distance there is nobody more patriotic than me, your president. End quote. Well, kind of the only one why does it matter because President Trump is the de facto leader of the anti mask faction. Thats why he spent months refusing to wear a mask in public and framing this as an issue of personal freedom. That emboldened people to take ridiculous stands against mask mandates invoking the first amendment
Washington and the world talking, microsoft eyeing an acquisition of tiktok and is this comes after President Trump threatened to ban the app in the u. S. Over security concerns. The president made an about face and gave microsoft the go ahead to proceed with the deal josh lipton has the very latest. So, melissa, President Trump also weighing in here. Take a listen to what he had to say today. It will close down on september 15th unless microsoft or somebody else is able to buy it and work out a deal, an appropriate deal, so the treasury of the, really, the treasury, i guess you would say, of the United States gets a lot of money so, why is microsoft interested in tiktok well, its a wildly popular app with 100 million users already here in the u. S. Engagement trends are strong analysts note that users already spend over an hour a day on the app. Patrick moorhead emphasizes two broad reasons why this could make strategic sense one, he argues microsoft is relatively week in Consumer Ser
Wells fargo a bad day as they put up a disappointing quarter. The first loss since 2008 and they cut their dividend from . 10 from . 21. A choppy day in a choppy time. David we are also getting mixed messages about the coronavirus. Yesterday it seemed like the news coming out of california may have triggered some of that happening. Why would that hit the faang . I thought if we had more coronavirus we like the faang better because we have to use it more from home . Abigail i think the two are a bit separate. The news out of california did take stocks lower, but the faang started to turn lower earlier. Au have these stocks up in huge way because of the stayathome element. Also these Companies Put up great quarters in april. We are into the earnings season now. We will be curious to see how they have fared over last three months. There is Something Interesting also ahead later this month. , jeffe the ceos of amazon bezos, Mark Zuckerberg of testifiedand alphabet before Congress Later thi
Twitter shares soaring on a rumor the company is looking to build a Subscription Service a source close to the situation tells me that a Subscription Service is one of many Revenue Generating options that twitter is considering, but that no announcement in that area is imminent Ceo Jack Dorsey has said hes kicked around the idea of creating a subscription tier and twitter management has talked about building new revenue stream the focus on new ways twitter could make money as tiktok opens a new platform senator tom cotton warned americans against use ticktock. Secretary of state mike pompeo said late monday that the United States was looking at banning chinese social media apps including ticktock. Ticktock responded to pompeo by pointing to the companys new american ceo, former disney executive kevin mayer, saying we have never provided user data to the Chinese Government nor would we do so if asked. I want to go to dan nathan first. As i recall, dan, you had fast pitched twitter back