Official and we are on record high watch today. The s p seven points above an alltime closing high and the nasdaq trading in record territory as well today. Joining us for the hour is stephanie link from atiaa company. The market moved higher in the morning and weve sat there all day, upward bias because u. S. China trade headlines we have three reasons the deals that you mentioned early on, theyre positive for shareholder Value Creation but more positive in my mind because the ceos are showing they have confidence and they have visibility in spite of the trade tensions which to me is a very powerful statement thats one of the reasons for sure one area thats not getting a lot of attention, the german Business Confidence ticked up month over month its not back to july levels, i get it, but theyre making progress, right . And then of course the china talking about ip theft and being more friendly, more positive gesture. Who knows how thats going to turn out but those are the three reason
Highlights. The senators blasted Dennis Muilenburg time and again on a wide variety of issues some accused boeing and the ceo of not being straight with them, outright lying in terms of questioning about the 737 max. Others basically said to him, youre the ceo, how could you let this happen . Youre the ceo. The buck stops with you. Did you read this document and how did your team not put it in front of you, run in with their hair on fire saying we got a real problem here. Those pilots never had a chance these loved ones never had a chance they were in flying coffins. I was walled walk before getting on a 737 max i would walk zbra there is no way just a few of the comments from senators asking Dennis Muilenburg and also offering their opinions in terms of the 737 max more Dennis Muilenburgs time he said time and again, look safety is at the core of our mission. We are committed to making sure the max is safe when it returns to flight and that the Company Makes changes that are necessary
Lets get a check on the market stocks higher to close the week. The s p 500 and nasdaq are on track for the worst week and shares of boeing, the big dow winner is up 4 . Well have much more on that story later on. Melissa, we begin with confusion at the fed and the president throwing another haymaker, the new york fed president John Williams with some market moving comments yesterday interpreted by some as signaling an aggressive rate cut. The new york fed later walked back those comments. The president tweeting today in part i like new york fed president John Williams first statement much better than his second statement his first statement is 100 correct in that the fed raised too fast and too early Steve Liesman joining us now with fresh. Lets do this one by one. Fresh fed speak first. Thank you. Speaking at the same conference where william spoke yesterday turned up that dust said moments ago the fed needs to follow through on what he said was a promise made to markets made in june
the after hours session near it s ipo price of $17 bucks a share, 17, 18 is the last trade here, pretty much after the after hour session low, we have a lot to unpack here the conference calls are under way with ceo evan siegl at the helm. luke ventures, co-founder gene munster, here on set, julian boorstin is out at headquarters. let s kick it off with you. since you spoke to a snapchat give us the details. reporter: that s right. we are looking at the snap ceo earnings calm evan siegl picked up the calm, the fact that he says they are building a strong foundation for snap s business, take a listen. we are pleased with the early results from his performance and quality improvement, particularly on android devices. these improvements help drive a significant investment with 3 million snaps, generating an increase in overall sessions and time spent. reporter: chief strategy officer con announcing per user is over 30 minutes a day saying they are making progress on the ad
gains and we begin with earnings from microsoft which added to the string of strong results reported by other dow components. microsoft s quarter was powered by the new cloud business. and not by the product it may be guess kn windows. the ceo has shifted the focus amid the slowing pc sales. the dow component earned 69 cents a share, a full 11 cents better than estimates. revenue also topped expectation although annual revenue fell n since 2009.cal 2015. still investors liked what they saw, sending shares higher in initial after hotrading. josh lipton has more. reporter: $6.7 billion that was the big number in microsoft atest earni reported for its so-called intelligent cloud segment. kurt mctern of evercore whd tha important because this is a critical part of microsoft s strategy going forward. it was also weaker than expected in the third quarter so investors wanded to see this wanted to see this bounce back. he notes that revenue from ajer, the cloud computing platform