And s p 500, nas in six weeks. Yeah. Well start with tech. More broadly, ipos and big tech valuations have been surging culture questions continue to brew in Silicon Valley as well i want to talk about that and a lot more with long time venture capitalist whose newest venture is a private and middle school with entrepreneurship baked into the curriculum Draper Associates founder tim draper joins us now. Tim, good to see you i want to start with your take on these markets i was talking just yesterday to the founder of rike. He said he isnt going public this year because he underestimated how well the ipo market was going to perform in a pandemic has that surprised you and what are you saying about it to your Portfolio Companies . Absolutely. I was blindsided i didnt realize that the government was going to print 13 trillion it has been strong for bitcoin and it sure has been good for the Public Markets particularly the tech stocks that have benefitted from that and i think people many p
From Home Software stocks. And tech continues to lead, apple, netflix up 4 it is walmart the top performer in the s p 500 were going to dig into that one. Record close watch 59 minutes left to trade. That meat and potato and delicious gravy joke from tyler. A bit of an inside conversation between the two of us today. Of so apologies for that lets have a look at what is coming up along with the meat, potatoes and gravy the ceo of labcorp joins us. Florida is severing ties with quest diagnosics and walmart upping the stakes with amazon announcing the launch of the prime competitor well discuss with the former head of walmart u. S. And a food giant bets into the biotech game well speak with the ceo of nest nestle bet with a peanut allergy treatment. Mike santoli is tracking the action on this first day of september. Josh lipton is focusing in on apple and what could be the next catalyst for that stock. And phil lebeau has details on teslas Share Offering we have another tack on rally. A l
Holding onto those gains. The s p 500 up. The nasdaq is up 2. 4 . The dow is up 1. 8 . Chipotle is at the top but like many other companies it beat estimates. The dollar continues to strengthen. Standing by with a deeper dive into the action we have taylor riggs. Taylor you mentioned crude on your board and i wanted to start with oil prices. They were up 20 or so after six days of losses. Theyre trying to rebound but still down where the 50 . It is unbelievable the price action. U. S. Oil inventories have risen for a 13th straight week but there is potential positive news. Yesterday, they were shortselling on a stock and if it plunges more than 10 that would apply to the largest etf. Some of the reasons we are seeing some stability. We need to talk about the largest oil etf. It is tracking crude prices pretty closely on a yeartodate basis. We know that yesterday there was a premium to the shares given that they ran out of what to sell investors. Theyre trying to take advantage of low o
Costco inver go in to any week. 27 this week alone. Travel stocks hitting hard getting hit hard. It is pain in the sector of the market. Scarlet lets check in with our reporters to get more insight on what they were watching heading to the close. Abaco, get uss, started. The s p 500, this is the last three weeks back and correction on the coronavirus. As for the uptick, volatility i am told it had to do with corporate buybacks and that is when corporations come in here we see a little bit of that but we are still down and technical damage done suggesting more selling probably ahead for the s p 500. This the fiveyour chart in relationship to the 200 week moving average fiveyear chart in relation to the 200 week moving average. Back in 2015, once the s p 500 went below the 100 week moving average, it cuts down to the 200 week moving average heard a similar situation in 2018. Last week going below it and this afternoon touching off of it. Bearishthe inside candle suggesting volatility and
Be in tomorrows debate, 19 in poll, hes on the vegas stage, he bought his way in over 400 million of Campaign Spending so far, item two that poll pulls Bernie Sanders way out front, 31 , hes now the clear leader. Item 3, more taper tape emerges and black and latino males dont know how to behave in the workplace, ouch, what a day, what a week to come, 3 trump rallies, by the way. Varney company is about to begin enormous cohort of black and latino males age lets says 6 to 25 that dont have jobs, dont have any prospects, dont know how the find jobs, dont know what their skill sets are, dont know how to behave in the workplace. Stuart last the latest Mike Bloomberg tape to emerge. Joining us james freeman, those kinds of comments and hes made several of them, thats not the way to go in politics, youre insulting population, hes going to be in the debate, he will be a target. I think what we will talk about the debate is results, he will talk about the thousands of young minority lives that