Earnings which will include some hightech bellwether names later in the week. We have apple shares, they lost their opening pop despite top apple analysts saying first day iphone 12 preorders surpassed last years numbers for the iphone 11. That bodes well for the mini and pro max, who Iphone Models that have not taken preorders and ship four weeks from today a couple more big q4 products, the xbox series x and the Sony Playstation 5 will hit shelves verizon and at t this week morelikely with 5g comments Texas Instruments and intel all reporting. Mike santoli joins us now with more well get more of a Critical Mass of earnings hitting the tape the question is is the street going to be more impressed this week than last week in the opening rounds we had an 81 beat rate by the companies that reported last week yet the average stock move buzz down more than 1. 5 in the one day after those results. It suggests perhaps that a lot of investors would think a big beat rate was in the bag for thi
It. Of we have been watching what has been going on on the louisiana coast for the latest headlines on hurricane laura, that has preoccupied people. Here in europe, also waiting on the latest developments from jackson hole. Just as we see laura weakening to a category three hurricane, although we know they can still linger it still do damage. Tom 120 Miles Per Hour maximum wind, but the landfall of 160 was extraordinary. The shape of the storm has changed as well. With our first word news in new york, here is ritika gupta. Ritika good morning. It is one of the most powerful storms ever to hit louisiana. You were just discussing hurricane laura, it made landfall near cameron, louisiana with maximum winds of 150 Miles Per Hour, plus there is a threat of a catastrophic storm surge and flash flooding. There is concern that damage could leave areas and uninhabitable for months. It will also shut down a third of the regions Refining Capacity. Winds have died down but laura is still a categor
Woke hypocrisy . That and much more on making money. Charles all right, folks here is what i think are three main reasons for todays steep sell i dont have. Stocks got too expensive, short term, bottom line. Last week we saw the stock market put it in the best 50day rally in it history. Guess what . It only got stronger. It got parabolic. That is chance that weve seen best 60 days ever and pullback was way overdue. Second, the Federal Reserve refused to lay out concrete ideas how they provide extra hope to prolong the recovery. Wall street wanted more about bending that yield curve. Third, investors are waiting to see how much cash begins to circulate in it economy. I want to bring in two of my favorites, wallser, rebecca wallser and keith fitzgerald, principle his group. Keith, before you start, from march 23rd to the peak this week, s p was up 45 , dow up 47 and nasdaq up 46 . I like to remind people occasionally markets go down. Thats the thing. They stink. Theyre uncomfortable. Its
I do not consider myself a journalist. Nobody else would consider myself a journalist. I began to take on the life of being an interviewer even though i have a day job of running a private equity firm. How do you define leadership . What is it that makes somebody tick . He is widely known to be the wealthiest man in africa. Is that a title you are proud to have . Sothat one where you get many people calling you for money that you were not that you wish you were not the wealthiest man in africa . Know, when they call you the wealthiest person in africa, it comes with a lot of baggage. Summary demands. So many demands. But it is good because i like to give back to society. David you are involved in many philanthropic endeavors. Lets go through some of them before we go to how you made this money. Recently, you had an event in and billwith mo e bram gates in which you provided a fair amount of money to the African Center in harlem. What is the African Center and why did you do that . , ch
Like never before. And, sonos sues google. System the custom sound company showing trademarks of a takeover . We will talk about the survivability of upstarts in the big tech era . Breaking news. U. S. Treasury has named no currency manipulators in its fx report, effectively taking china off of being a currency manipulator. Again, the u. S. Treasury has ine no currency manipulators its foreignexchange report. We know that china was put on that designation list in august, being removed today. I want to get back to our top story. It is all about earnings season here. To reportnks set earnings this week after having spent billions on technology in 2019. That could be bringing a big change to the bonus culture as traders are being forced to unlearn some of their most basic assumptions about making money. Us, our Bloomberg Finance reporter. What are we learning about unlearning the bonus culture on wall street . What we are unlearning is that bonuses or maybe a thing of the past. In the pas