Good morning, it is midnight in beijing its 11 00 a. M. On wall street and squawk alley is live. Good friday morning welcome to squawk alley. Im jon fortt with carl quintanilla. Its the end of cloud week on squawk alley. What a week its been. They have brought news on custom chips, Machine Learning and more sales force announced plans to buy slack for nearly 28 billion in the second largest Software Deal ever. Weve had ibm and microsoft weigh in snowflake and others have turned in blah earnings well hear from the ceo this hour what does it mean for investors already sky high investor malic noijoins us now i cant believe we never had you on squawk alley before i hope this is a trend i want to start with sales force slack. I know that you have known stu butterfield for a long time, even before flicker was a hit. You think this very expensive deal makes sense why . So lets remove the price out of the equation. I think what youre looking at right now is in 2020, we have gone from the idea
Action Toll Brothers and stitch fix stocks are moving. Well break down the trades straight ahead we start with target practice, folks. Looking into next year more firms putting out 2021 s p forecast its quite a range, citigroup 3800 three percent higher than now on the s p at the other send j. P. Morgan 4500 about 20 percent upside so folks as we gear up for next year, which camp are you in guy . Are you at the low end 3800 or closer to jpmorgan. I will tell you what im in i love Tyler Mathison. Nice to see you. Youre the man. Thanks for being here tyler. Tyler, what was that show boldly go where no man not star tr trek you a fan . I never was a fan thats okay. Nor was i chauvinism notwithstanding, for the first time in History Today Global Market exceeded 100 trillion of market cap, 115 percent of global gdp and s p 500 now about 180 percent of u. S. Gdp just ridiculous numbers. So i understand why the market is going higher, i get it, but id about in the low end of that camp, tyler.
Leventhal. We are basically at the highs of the day, call it a 500point gain, the s p 500 good for 1. 5 . Nasdaq which was negative very early today is back above 12,000, thats a gain of 1 . The small caps have had a tremendous run of their own. The russell 2000 is up by better than 2 . Josh brown, if i told up that the dow on march 23rd hit a low of 18,213 and we have had a 12,000point rally since then, you would say what i would say this is why people who are not only invested for long term by continually adding to their investments, 401 k s or automated advisers, et cetera, have done themselves a huge favor people on the other side of that debate who think their job is to wake up every morning and make in our out decisions have not done themselves a favor. Im 43 years old im pretty sure ill see dow 100,000 someday. Is he you have to orient your mentality in order to get to days like today. If your mentality is oriented toward trying to outsmart everybody all the time, you dont get t
Now. Good evening, everyone. Thanks for joining. Cases are surging and counties are taking action. Today is the first day that Indoor Dining is once again offlimits in San Francisco. Another blow for restaurants already struggling during the pandemic. Not just San Francisco. Several bay area counties taking action to slow the spread of the virus. All tightening restrictions starting next week. Nbc bay areas Christy Smith has a look at how restaurants are dealing with this latest setback. Reporter a number of restaurants we spoke with today say theyre working hard to try and make diners feel even more comfortable being outside. Its a stressful time, they say where, and there is so much to consider in rolling back. For restaurants right now its very stressful. Reporter at water bar theyre no longer able to offer any Indoor Dining but there is space to dine outside with a view. Were probably 50 of what we would have been on a night where we could have Indoor Dining. Reporter San Francisco
Here in Alameda County and any other purple tier county. I spoke to the owner of the dirty bird lounge in hayward, and hes worried this curfew is not only going to cost him money, but hes worried he might lose some bartending staff. I think a lot of them will probably just go back on unemployment. Its unfortunate. Reporter eric had big plans for december. With Indoor Dining off the table, the owner of the dirty bird lounge in hayward paid roughly 10,000 to build an outdoor patio for his patrons. I was hoping to have it open the beginning of december. Right as this is all happening. Yeah, i signed a lease literally just yesterday. Reporter this afternoon, a stunning announcement out of sacramento. Starting this saturday, he and his staff will have to shut down early, cutting into his weekend hours, which is when he sees the most customers. It will probably be like a 20 to 30 drop in business for friday and saturday. The other days are already relatively slow. Reporter he owns two other