Masterca mastercard, microsoft and u. P. S. All lower on the back of their results as well. Bund yields and oil are lower. Tenyear yield, 0. 77 . All 11 s p 500 sectors are lower, sharply lower thats the heat map of all s p 500 stocks very few are green as you can see above me just less than 3 of declines for all three of the major indices, sara. We will ask allianz chief economic adviser mohammed elbrian. Monitoring two live events at this hour, expected speech from french president emanuel macron and a statement from dr. Fauci mike santoli covering the market selloff meg tirrell with more details on the covid spike in the u. S. And europe and ylan mui start us off with the selloff, mike starting to do some damage third day in a row for the s p. Its starting to cut a little deeper the hope gave way and did accelerate the down side multiple pressure points on this market causing investors to have a harder time looking across this valley of growth, right covid case cuts. We dont know wh
Good tuesday morning. Welcome to squawk alley. Im Carl Quintanilla with Morgan Brennan and jon fortt live at post 9 of the New York Stock Exchange we begin with text stocks this morning and the continued rally in the sector, another record close, apple, facebook, and alphabet at alltime highs Jeff Richards joins us now along with james lee guys, good morning good morning. Good morning. Thanks for having us so james, im looking at tech stocks up more than 30 in just the last three months. A short list apple, tesla, amd, snap, spotify, zillow. You like facebook and byedo in this market, but how much can you like some of these names given how quickly they have run up yeah. Jon, that very good question we think valuation right now is still very attractive. Look at facebook coming to the year, a lot of investors are very concerned about regulations. I think as we get into the year, a lot of people getting more comfortable because some of the regulatory issues or policy that happened over th
There. Chinese vice premier liu spoke with u. S. Trade representative Robert Lighthizer and treasury secretary steve mnuchin. The Ministry Says they discussed issues related to a phase one deal and agreed to maintain communication on the remaining issues in the phase one talks. So, we are still very much in phase one talks. Bumping up against that december 15th deadline, though. Right. When you are expected to see new tariffs go in. Right. Thats been the big question do they do it its obvious they dont want the tariffs put in will enough progress be made at that point to say, okay, we wont so you think maybe not a deal by december 15th, but maybe enough of a deal to be able to i dont know. China trade wars are so 2019. Pushing into i just think you need to just, when we talk about beyond and impossible meat, i think you need to look into the future a little bit i just think you need to anticipate, not react. I just think it helps. What do you think happens before december 15th do you t
I know. Alltime highs we have like, what, 39 trading days to go is that it . It is a tight time frame here the interesting thing around the market is it has shrugged off concern. One of the reason the market has gone higher is because of really light positioning. That mentality hasnt changed. That has fuelled the rally in the market you see the dow in the green but just barely. Nasdaq futures down by a point again, we are sitting at new highs after the gains we added on yesterday you look at the treasury market yielding 1. 85 xerox looking at buying hp. The company has an informal funding commitment xerox has a Market Company a third of hp. Both of these companies former technology stall waters. Xerox has had a couple of falls. Do people steel xerox things it is like faxing. Hp has tried to keep up it is like help me im drowning. Hp shares are up. Xerox somehow is the acquiring company. And there would be a premium to hps market cap. I just get depressed reading this xerox already scra
Washington many. But it is stronger than expected much more on china coming up in a few minutes. European equities, again, sliding in the last few hours. Germany basically flat were taking that to 3 decimal points here. France, uk, spain slightly negative, italy essentially flat as well. Finally treasury yields, the tenyear hovering right around 1. 7 1. 69 is where we have it right now. So certainly something that investors are watching. Yeah. You have yields slipping again a little bit this morning, but were off the lows of last week, which briefly dipped below 1. 6 on the tenyear. Thats encouraging yields had such a big effect on equities as we all know. I think on europe the interesting thing to note this morning is that were not seeing a gap up again in terms of the spread of italian over german yields and talk about the potential new election coming up hong kong, is down 9. 5 , shanghai down 5. 5 it is weighing more on the shanghai market. We saw that elevation escalation of conce