Good friday morning. Welcome to squawk alley with Morgan Brennan and jon fortt at post 9 of the New York Stock Exchange obviously watching these markets here dow is down 331 after yesterday, deep in the red. The dow, the s p, and the nasdaq are all on pace for their worst week of 2019 tech names getting hit pretty hard, apple, alphabet, facebook, intel all down around 2 , guys this is a period in which trade concerns might result in selling thats a little more indiscriminate than weve seen in recent months and among the tech names, a look at cisco thats down closer to 4 . Some other cloud names not doing so well. You see, dell is down more than that you know, Network Appliance well, that one has its own issues but certainly, hp down 5. 5 a lot of these trade issues rippling through not just the names that have higher valuations or have high flyers, but some of these core enterprise tech names, vm is another onedown almost 8 in this trade if you look at all the major averages, were now
Adobe. And were off to the races without any real worry about last minute status of darn tax bill which is looking more and more likely that it will become law next thing you know, the dow rockets 143 points nasdaq,. 9 . Nasdaq pole vaults up 1. 17 . It is easy, isnt it look, we dont even know what is going to happen in washington. But as i told you last night, were in the torpedos full speed ahead moment i am telling you, its underrated by everybody. Corporate earnings witness the pin action from costco and adobe so while the specter of washington haunts the market bad, they cant stop the averages from going higher will it continue since earnings are really in charge here despite you think it may be the tax cut, i went over the last day cut it, raise it it doesnt matter. What matters is earnings lets go right to next weeks game plan. The big competition in stocks is bonds. Let me put this scene setter here obviously on monday we want to see what happens to that tax bill we also get so
Headquarters. Zealand,oing to new seeing some weakness down 1 10 of a percent. Snapping that losing streak that they saw. We saw comments from the governor talking about further cuts likely to come, but he said several factors could be supporting growth in new zealand. It is not weak enough for large rate cuts as some have been speculating. The new Zealand Dollars but is actually gaining. We are counting down to the opens in australia, japan and korea. We are expecting retail sales from japan coming out later this hour. Bk 225 closing down 1 10 of a percent. Futures pointing to a higher open. The dollar yen is weakening. It is almost as if three weeks of intervention in the markets did not happen we are talking about china. The losses were not as severe as the day before but stocks went down nearly 12 since thursday. Juliette is watching the markets for us. Juliette security regulators say they will investigate what happened on monday when we saw the 8. 5 plunge. Yesterday selloff was
Faber broke the story, a lot more on what it could mean for media content and streaming and more the vote is in, bill ackman has lost it was a pretty tough shella shellacki shellacking. Well talk to Carlos Rodriguez about this companys victory coming up. Bob lutz says we are approaching the end of the automotive era and in 20 years no one will even own a car well dig in on bobs predictions. David, first up, the latest on disney fox. Listen, yesterdays story was interesting, largely for the fact while it may not actually occur, that is disney buying many of the units of 21st century fox, the idea that 21st century fox was willing to engage in talks designed to sell a large part of the company, willing to go smaller in and of itself sends a significant signal to many of the Traditional Media Companies out there and that is the case again as we had reported through yesterday at 1 30 when we broke the story, talks had taken place over the last few weeks. They had ended although they could
Be brought to justice. The statement was drafted by japan on behalf of countries in asia pacific region, and was approved today by all 15 council members. Global news 24 hours a day, powered by more than 2600 journalists and analysts in more than 120 countries. Parenti, this is bloomberg. Emily i am emily chang. This is bloomberg technology. Oneonone with meg whitman in a bloomberg exclusive. Vegasins us live from las on maintaining profitability in the age of the cloud. One day before former fbi director James Comey Testifies before the senate, President Trump tweets of the name of his potential successor. We will tell you more about former doj official Christopher Wray. With hours to go before the u. K. General election, online voting is front and center. We break down the pros and cons. The annual hp discover conference is happening this week and the company has outlined how it will continue to grow and stay competitive in the age of cloud computing. Meg whitmanard ceo joins us live