Caroline bloombergs economic model is seeing a doubledip downturn. There was much good news on the vaccine front, but joe, the euphoria has ended. Investors are trying to work out how they get through until spring when the vaccine is going to be more widespread. Joe weve had a powerful rally for the first couple days, but then you look at the action with the nasdaq surging and itrything else lagging, and does seem like the vaccine opposition is running head to head with reality, which is that right now the covid situation is bad. Hospitalizations, hitting a record. Ineurope, you see the surges germany, italy. At some point, it seems likely we are going to get a vaccine, but the current situation, not good. Romaine it is really the sustained trajectory of this latest wave that is most concerning. The one thing, if we are going to find some silver lining, his hospital seem to be more prepared this time around than where they were back in march and april. Joe absolutely. With more, tech r
Dorsey, and alphabets sundar pichai, are set to testify virtually tomorrow. Section 230hange could have longterm ramifications on free speech on the internet. Banned news political ads. We will ask Cambridge Analytica whistleblower as part of our special electioneering series. First, lets get a read on stocks and microsoft results. Abigail doolittle with us from new york. Big beats out of the gate. Abigail in the after hours, they are trading higher. Although i think what we are about to look at could be all over the map at the moment. They are talking about the idea that further lockdowns could hurt demands. Their Cloud Business was weak. Microsoft Cloud Business very strong. That was a piece of the beat. Maybe part of the business that could have gone to microsoft. Again, after hours, this stock is trading higher on the year. Valuation is rich, but the theter is good enough that stock is doing just fine. The s p 500 index and the dow down once again. The nasdaq climbed sharply higher
Most well litigated. One legal tracker is already following around 400 lawsuits filed. It is not just the white house and congress. Americans will be voting on everything from the gig economy to marijuana to taxes. Joe, we all know, after brexit, after the 2016 election, pulls, you have to take with a healthy dose of salt, but we are going to look at them anyway. Joe even in the absence of perfectly reliable data, we will tell stories on the data that we have. Polls all seemhe to be saying the same thing. Most people seem to think that joe biden is going to win. You can see how similar trumps pulling his versus the same time last year. The polling is, similar. Not sure what that chart tells me. Should i panic . Joe sell everything, by and back in the morning. Up a lotwhat tripped of people in 2016 was not the popular vote, it was the Electoral College trumps into thosereally go swing states and dominate there. We just had ed ludlow talking about what is going on in arizona. Us, keeping
From the president for being inaccurate or misleading. While twitter makes it impossible to retweet the flagged post, trump posts on facebook are being spread. We will get to that and more this hour. Meantime, in the last halfhour, we got word that michigan has gone to former Vice President joe biden according to cnn and nbc and at this point, if he wins nevada and holds arizona, where some boats are still being counted, he will win the president ial election, but there are legal challenges a foot. President Trumps Campaign threatening to sue over vote counts. Michigan says it is declaring victory in pennsylvania where votes are still being counted, but first, i want to talk about the market which kicked off one of the biggest postelection rallies in history. Its best day since june. The nasdaq had its best day in months. With so much uncertainty, why are the markets outperforming . Abigail it is pretty incredible because it does not make sense on an intuitive level initially. Investor
Beat for alphabet. Spoke to the alphabet c. E. O. About the results. Ill give you the takeaways from that conversation coming up. Facebook beats the social s the covid her storm. 2021 might not do so well. Big word uncertainty. Earningsnating the calendar and on our show we also saw the results from amazon and twitter. Clobbered inng after hours trading. Well cover it all over the next hour. Abigail doolittle is watching the market moves from new york. Abigail, lots of different stories at play. Seeing . You incredible. Most anticipated day of earnings for any quarterback, at least we have some of the answers. Lets start out with the breakdown because were a tale of two stories. Relative to first apple and amazon. Well see declines. On the surface, they did beat adjusted earnings putting up 73 cents per beat by 4. 7 . They put up nearly 65 illion in overall revenue beating by almost 2 , but beneath the surface as you iphone tioning the sales disappointing, down 21 , and china sales wer