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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 remo ....
And welcome to power lunch. Im melissa lee. Check out this rally right now all 11 sectors are in gree green. Taking a look at some of the stocks were watching. Salesforce is under pressure for the second day in a row, down about 7 in the last week as it gets set to report earnings after the bell and reportedly to make a deal. And we have exclusive data on how the bitcoin boom is boosting this payment stock first lets get over to bob for more on todays rally. Hey, bob hello, melissa. Good start to a traditionally good month we got talk about a new stimulus plan, janet yellen on the air and, overall, 11 sectors all on the up side. Bank stocks leading the way but technical stocks also. No dig selloff in tech that was also a november play there. Theres energy you have your value play with banks, energy up you have your growth play with tech, cyclical with industrials up and even more defensive groups, Consumer Staples on the up side ....
Welcome to squawk box. Im Andrew Ross Sorkin along with joe and melissa lee, becky is off the s p looking to open about 12 points higher. Well explain why some of this is happening and lets show you treasury yields as well the ten year note right now looking at 0. 931 . But maybe a little bit of an explanation coming up here, melissa . Yeah, some optimism Mitch Mcconnell said that compromised deal was within reach and well get a live report from washington at 6 30 a. M. And we heard it before, but it seems like btoth sides are comig a little closer. On a much lower number. And im just thinking about, i dont know, andrew, what did we do to deserve this i mean we are living right or i mean, who ushered in the new week on squawk box on monday who is helping us usher out the week that was on squawk box . A monday and a friday. Is this46 w was this planne melissa, what did we ....
Investors are shrugging that off as stocks look to rally at the open. One name that may not rally is zoom. Shares of zoom are sinking yeah, in the premarket, work from home stock taking a hit from a rising free user base and increasing cloud costs and we have vaccine optimism, moderna and pfizer filing for emergency use and Vice President pence says vaccine rollout expected to begin in two weeks carl all right jim, i guess the question of the morning is whether that rotation, that worked historically well in the month of november, still applies. I think were running out of gas in terms of the oil and gas and focusing on exxon. Stock may not go down, giving the dividend, it says, look, were at wits end and the big Exploration Development period for exxon, market leader, u. S. Leader, is i think now over. We are following were following europe and japan and i think tha ....