It was the big gainer. It closed at an alltime high. Tech has been leading the way. Sales force, facebook, taketwo and qualcomm at record highs you have to watch one stock in particular apple. After more than 10 gain on friday and thursday night, it closed up 2. 5 to an alltime high percentages away from hitting the 2 trillion market cap that 4 to 1 stock split is hit that price has to sit 477 not far off. Weve been talking about the pressure that has been put on yields in the treasury market. Right now, the 10year note at 0. 45 . Scott . Becky, im listening to you talk about tech and these companies. We have to get ready to talk nasdaq 11,000. As crazy as that would sound, we are on the doorstep. In spitting distance, basically. Unbelievable. Largy carri largely carried by these big five apple, amazon, facebook and alpha bes alphabet and microsoft looking back in march, would you have thought we would be talking nasdaq 11,000 by summer . No way. There is reason for it if you look at s
Moves. Deirdre bosa is standing by. First to josh lipton with more on amds quarter josh reporter i caught up with rbcs mitch steeves, an amd bull he calls this a monster beat and raise, nothing negative in the print. Mitch says that he can see full raise to 32 growth, up from 25 growth. Gross margins also expected to expand thats due to the continued strength in server chips mitch saying amd clearly gaining share on intel just talking more about the report and the guidance. Calling for about 2. 55 billion, better than expected, closer to 2. 3 billion they expect 22 revenue to grow 32 . They call out strength in pc gaming and data center products. As for the two big segments in the quarter computing and graphics, 1. 37 billion that would include chips for pcs and graphics chips for gaming. That is the enterprise embedded and semicustom division, better than expected. 565 million that includes chips for the data center and also chips for game consoles and, by the way, tomorrow morning mu
Americas top Infectious Diseases expert says he is confident we will have a vaccine by the end of the year as infections slow and california and arizona, but florida reports record deaths. Secretary of state mike pompeo praises australia for standing up to china as the traditional allies strengthen defense ties. Shery thats get a quick check of how markets are trading at the moment. U. S. Futures opening to the upside, point 1 , this as stocks fell. We had traders assessing corporate earnings, not to mention contentious negotiations on a legal stimulus package. We have the s p 500 nearly raising money. We had traditional sectors gaining grounds. Real estate, utilities performing while energy declines. We had worse than expected results from a few companies 3m. Uding mcdonalds and the nasdaq composite also lost more than 1 . Tomorrow is the big antitrust showdown. We have the big tech giants including jeff bezos and Mark Zuckerberg testifying, so we will be watching that closely. Take a
And individual names getting lower. That keeps it pretty much unchanged year to date we have a massive show coming up discuss the latest stimulus negotiations th thats any minute now its the key question for the markets today. And then as the heat gets turned up on big tech, well talk to the always candid ceo about the precious ceos facing testimony tomorrow and the stay at home trend a huge swell of tech earnings coming to day and later this week. Lets start with the broader markets. Mike, over to you. Thank you we have markets on pause for the most part today. Bond market is qui wet yields at the lows stock market, too, is hugging this very familiar area, basically flat on the day. That is an area of attraction. Well see fit lasts for now. It is the defensive factors. The ones that benefit from low yields that are up today, real estate, staples and utilities. Take a look though at a couple of indicators as we wait for the fed decision tomorrow. Whats going on and how quiet the bond m
Close today . You can take microsoft first, and whether its a referendum on tech itself . I think microsoft could be. I believe that one of the things we have accepted is a way from apple i listened to the great report on jamf, the new ipo from carl and jon. You have apple news that its doing very well, and that was, and then microsoft, and then we have this chasm before a lot of other companies. We feel that kind of covers everything microsoft does a lot of stayathome microsoft has the lawsuit filed against thoem against slack but most important, microsofts azure has been growing endlessly and fabulously a lot of people think faster than Microsoft Web services. If that continues, i think the stock goes higher. Pete, if this report comes in well, people will say thats why all that money had flown into tech to begin with thats why the mark is where it is if this number doesnt come up to snuff, people will say i told you, these stocks went too far too fast, and microsoft is case study nu