And as millions of americans continue to stay home amid the coronavirus, we run down some of the hottest holiday tech peoples of their, all as swarmed online sites. Speaking of staying home, what streaming companies are doing. First, lets get a check on u. S. Markets, where we have been talking about the rotation out of tech shares on corona vaccine news. Reversed courseon wednesday amid data showing a possible slowdown in economic growth. Ed ludlow joins me with my. What are you seeing . Ed im calling it the unwinding of the rotation trade, taylor. The s p 500 coming off this record high, dow coming up 30,000 points that we saw yesterday, and then the technology stocks, the nasdaq 100 index up. 6 . Data wise, this is the first backtoback rise in weekly u. S. Jobless claims since july. Investors are reassessing what is going on with the economic recovery as it relates to covid19. The story, as you say, has been a move into value and smallcap stocks, those kinds of companies that would
Regarding microsoft. Some people did not like the quarter but now we have something that puts them right it not passing in terms of the growth google and facebook among a certain demographic that people want which is the 18yearold demographic. I go on tiktok and there is a good one right now about Federal Express delivering packages versus u. P. S. Versus the post office david, your kids may like it at the same time, its got a lot of viewers it does 80 million here in the states. Yes, one of mine does typically it does skew more female than male and the other one doesnt but this is a fascinating situation, guys, for any number of reasons unlike anything i can recall having seen in part because the government is so deeply involved inbasically dictating the potential sale of a business to one company. And it really ends up being one company. You know, as you guys know, ive been following this to a large extent over the last few weeks and it was a difficult thing to imagine. How would go
Roll out some responses to Chinas Hong Kong law as the showdown with twitter gets escalated around the minneapolis protests oil near 33, the focus is squarely on twitter and this rule violation that the president s account got slapped with, and then the white house account, the official white house account retweets were all kind of confused, as marc benioff, who is against this obscure regulation that gives these companies an exception todo this, many are confused it seems President Trump wants to create his own enemy with if you start regulating these Companies Rather than having the exception, theyre always going to have to put a counter to what President Trump wants. I think what he may not understand is free speech is nasty. What he had until this was a great run of things. Its going to make it tough for him to be aggressive on twitter. He doesnt have press conferences that work because of all the displeasure he had with regular reporters. Hes disintermediating himself from the pub
Not only suggesting another election date. The stoxx 600 down just over. 10 lets dive into some of these sectors as it plays out on the boards technology right at the bottom apple comes out today. We saw some caution on wall street and the sector. Some of those big supplier stocks caution on trade investors are waiting on details. Industrials towards the bottom of the boards. The light ups of some of those big names. Retail stocks trade lower. Household goods, media and Construction Chemicals are in the mix too banks, very important basket today. Going through the numbers of that Deutsche Bank at the bottom. Mixed reaction to those numbers. Utilities. Telco trading higher auto is significant basket today too with the likes of volkswagen that stock surging 7 lets go to the volkswagen news. It has cut its numbers despite reporting 11. 2 rise thanks to Strong Demand for porsche. Adding to gains. 6 higher for stock now. The group needed to be efficient amid weaker global auto demand you ne
Democrat, were willing to accept extraordinary disadvantages to american jobs. Billionaire telling the fed, they are, quote, screwing savers and says donald trump is wrong for his attacks. The president is doing a lot of wrong i wrote down yesterday, i said Consumer Confidence is up, retail confidence is strong, consumer net worth is at record levels, economy is growing at trend. Rbs investors welcome allison rose to become the first female ceo of a major british bank. Sterling hits a twomonth high after they say a brexit deal is possible hes open to a deal that might replace the irish backstop good morning the u. S. Vice president mike pence told cnbc at the alpha conference that President Trump is defending economic interests as they resume trade talks in washington, d. C. Today when it comes to china, it is a whole different ballgame we run 500 billion trade deficits with china and we estimate we lose almost as many in intellectual property theft almost every year. What the presiden