Good morning welcome to squawk box. Im becky quick with Andrew Ross Sorkin and joe kernen. Welcome back both of you some big moves we are looking at today. Lets look where things stand with the markets dow futures are off by 34. The big news is happening with technology stocks. Down 343 points. Thats big you are talking 3 of the market or 3 decline for the index. Thats a big deal when you look at what happened last week on thursday, nasdaq was off 5 on friday, another one and a quarter percent. You are taurking 6 and a quarter decline. Because of what is happening with the biggest stocks in that. Tesla indicated down 11 in the premarket Asml Holdings down nvidia down advanced microoff off 4 . Those that have boosted that weve seen selling off today you are still looking with these declines at a market at higher levels weve run up quickly and we are seeing it now joe. Watching it head higher watching it ever day, we are like this tech stuff is insane benefitting from what we are all liv
Successful launch, the apple card issued by Goldman Sachs hit some snags in 2019. First, our top story. Tech continues to be the outperformer in 2019 with the nasdaq on track for its best year since 2013. The tech index is up 35 , just 3 shy of 2013s banner year. It is largely due to apple and the chipmakers. Joining us is abigail doolittle. I am showing on my terminal a chart about divergence, winners and losers. What is your take away from the divergence . Abigail the clear winners, apple and facebook. Apple up 85 , facebook up 55 . The others up closer to 20 or 30 . Still great gains. And the complex is overall higher. 2019 really the year of record highs. The complex overall, the last record high overall back in july but those two Companies Really pulling away with the lead, apple and facebook. Apple putting in record high after record high. And behind that buying power, you have to think it had something to do with 2018. Because between october and december 2018, apple fell about
Successful launch, the apple his calls for 2020. Google undergoing oracle card issued by Goldman Sachs hit some snags in 2019. Undergoing a big transformation. How do you see facebook entering what is a pretty crowded cloud first, our top story. Business . Tech continues to be the john it is crowded at the outperform or in 2019 with the application layer. Nasdaq on track for its best you have salesforce and all of those Different Software service year since 2013. 35 , justndex is up companies. With what amazon does, the aws 3 shy of 20s banner year. Service, there were really only ofis largely due to the three competitors, at least in north america. Microsoft as newer microsoft 2013s banner year. Aws, and google cloud. It is rgely due to apple and above the chipmakers. I am showing on my terminal i think the thing that chart about divergence, winners distinguishes these guys is obviously they have done a lot and losers. Of innovative stuff, but it is the clear winners, scale. Facebook,
[ gavel ] good afternoon everybody and welcome to the San Francisco board of supervisors meeting of march 22nd, 2016. Madam clerk, please call the roll. Thank you, madam president. Supervisor avalos. Supervisor avalos . Avalos present. President breed . Here. Breed present. Campos present. Supervisor cohen. Present. Cohen present. Supervisor farrell not present. Supervisor kim . Kim present. Supervisor mar. Here. Mar present, supervisor peskin present. Tang present. Supervisor wiener . Wiener present. Supervisor yee . Yee present, madam president you have a quorum. Thank you, ladies and gentlemen, please join us for the pledge of allegiance. I pledge allegiance to the flag of the United States of america, and to the republic for which it stands, one nation under god, indivisible, with liberty and justice for all. Thank you. Madam clerk, are there any communications . Yes, madam president. From supervisor farrell, dated march 8th, requesting that he be excused from todays meet colleague
Avalos present. President breed . Here. Breed present. Campos present. Supervisor cohen. Present. Cohen present. Supervisor farrell not present. Supervisor kim . Kim present. Supervisor mar. Here. Mar present, supervisor peskin present. Tang present. Supervisor wiener . Wiener present. Supervisor yee . Yee present, madam president you have a quorum. Thank you, ladies and gentlemen, please join us for the pledge of allegiance. I pledge allegiance to the flag of the United States of america, and to the republic for which it stands, one nation under god, indivisible, with liberty and justice for all. Thank you. Madam clerk, are there any communications . Yes, madam president. From supervisor farrell, dated march 8th, requesting that he be excused from todays meet colleagues, is there a motion to excuse supervisor faler . Motion by supervisor avalos, seconded by supervisor cohen, colleagues can we take this without objection . Without objection, supervisor farrell is excused. [ gavel ] all