Second public listing. Huawei founder and ceo says there is no need for negotiation in the face of u. S. Trade sanctions. More from our interview with huawei headquarters in shenzhen. Facebook investors are looking to shake up the social media giant and limit Mark Zuckerbergs voting power. But the proposal cant face without the support of the founder and ceo. One investor who has been tirelessly trying to push for changes, the ceo of Northstar Asset management which owns 12,000 shares. Goodrich submitted a proposal for the fifth Straight Year suggesting they change their voting structure which gives zuckerberg absolute control despite owning a minority of shares. Facebook has gotten itself into a lot of trouble over the past couple of years. We own as much as 50,000 shares over the time since the company went public. I think this is an opportunity for shareholders to weigh in and really for citizens to think about what privacy means, what kinds of Internet Access we want, what informat
Jumped better than expected 49 . We will discuss the earnings later this hour. Stocks in biggest tech resume their dissent monday. Investors continued to fret that the one time market darling suddenly faced a darker outlook. The socalled fang stocks were among the biggest decliners. An asset reporter in new york for the full picture. Lets start with apple. Is apple leading these declines, given the new reports about production cuts . Apple absolutely is leading declines. Weve seen this multiple times over the past couple weeks it seems by yesterday for the report saying that apple has cut production over the past couple weeks. Yes, we may have hinted that from some of its suppliers especially lumnentum. But it is by no means staying within apple. We are seeing it across the board. You look at hardware companies. Software companies as an industry. Look at the faangs, all seeing heavy declines. Throughout the trading day we saw a multiple times. Every single one of the safety Seven Membe
It has now tumbled more than 75 from the peak. Have the cryptocurrencys best days come and gone . First to our lead. Tech rout in the stock market. Combined, apple, amazon, facebook, netflix, and alphabet have lost over 800 billion combined since the end of august, putting Silicon Valley on edge and raising concern, have we reached peak tech . Tuesday, we caught up with bob odonnell and jim wheaton who says tech regulatory risks are just beginning. The biggest thing in the room is that the u. S. Economy is probably headed for a fairly significant slowdown not necessarily a recession, but growth is headed toward 2 or less. And that is more than wall street expected for the slowdown. I think that is why this is not just a tech event, it is an entire market event. And it goes beyond the stock market. Theres falling commodity prices. Blowing out in bond spreads. I think there is recession fear. But certainly what has added fuel to this fire is that the leadership, the place where everyone
Presence. We will discuss their earnings later this hour. But first, we saw the biggest socks in tech resume monday. Investors continuing to fret that the onetime market darling faces a darker outlook for growth. Sarah in neww to york for the full picture. Lets start with apple. ,s apple leading these declines given the new reports about production cuts . Reporter they actually they absolutely are leading. Today, for the report saying that apple has cut production over the past couple of weeks. They may have hinted that from some of the suppliers last week, but it is by no means investing with an apple. You look at tech hardware companies, you look at software companies, all seem very heavy decline today. Throughout the trading day, we saw every single one of the numbers the members were in the red. Starting with apple and spiraling from their. There, anchor wal. Anchor walk us through some of the other concerns. Slowing you have the demand of smartphones, the trade war of doing trade
that could make things harder for gopro. 360 fly will join us live coming up. here is where we stand in the markets. an hour to go in the session. it was volatile early on. dow up 55 points. continuing to add on top of yesterday s strong gains. s&p adding about five points. nasdaq up seven on the day where interest rates moved back a little bit lower. joining our closing bell strange we have david kelly from jpmorgan heather hughes and rick santelli. rick, let me start with you this. move in interest rates. a pause today, but all the focus back and forth is about investors. what are they going to do? is everybody going to move out of fixed income pile into the stock market? is the upward trend going to resume? i don t believe in the great rotation. flows don t wear it out. i think i would take that off the table. in terms of will it continue? i think it will but nothing goes in a straight line. remember we are basically churning through june. we are not quite halfway ther