And your comments a moment ago to andrew, just sort of crystallize, not just what a job shes done, but how companies are placing their bets on looking through cycles, even though were a week away from an election and in the middle of a pandemic. You have somebody the quality of lease why isa su, best ceo i country, nonpromotional, re competitive thought this was maxed out. Youre in the personal computer and data center, it is not good enough she saw what happened to intel i dont say that with any prejudice. Just that she left intel behind. She is in the data center, who is she who are her clients . Azure, google, and, of course, amazon but it is time she feels it is time to branch out into auto, time to branch out into defense into telco when you look at xilinx, what youre seeing is a mosaic where there is some overlap in data center, but the rest is an attempt to say, you know what, we need a bigger total Addressable Market we have to outgrow our markets right now. And i think it is a
But we have been inching higher this week. We were almost looking at 3000 for a while. The yuan has been weakening offshore, at 7. 1508. We will see how that progresses next week with the china hong potentialric, and protests, but we will see how that goes. The 10 year yield at 65 basis points, back into its cushion after a dire week of economic data, and crude oil at 32 at 32. 68. It has been pretty whippy today. Most stocks are lower, but you have stocks getting upgrades and so forth. This week has been about what is happening in china and also the vaccine story. The vaccine story has been incredibly whippy for markets, but so has the china story. Those have been the two competing factors. Weve had a few earnings to throw into the mix, but that has been the story. We see some of those start to come through, and a host of other companies being pushed and pulled. Also, the china story front and story this friday, and it is a long weekend in the u. K. And the United States. Do you want
Time now for our top market moving news from our new york team. Joining me Bloomberg Opinion columnist brooke sutherland. What were some of your Key Takeaways . Brooke i think what is interesting is target talks about First Quarter comparable sales being up, but nearly all of that was from digital. Digital comparable sales were 141 in the quarter. Those sales come at a cost. They are more expensive. The natural supply chain dynamics of delivering products to homes rather than having them purchased instore is more expensive for target, so you are seeing that market squeeze. Clothes,rent buying where target gets more of a higher profit margin. They were buying food any essentials. Is this a structural shift . Are people getting so used to ordering online that they will continue to order these items . They did also callout market share gains, which is key. Given Amazon Logistics troubles, are you going to be seeing customers rediscovering target and walmart, some of these longerlasting st
This on top of slight gains yesterday at 4 00 oclock. Markets were up. As you see dow industrials up 33 points and nasdaq up 139. Getting america working once again. President trump announcing plans to reopen the economy in phases. The president went through it yesterday. The Small Business aid program has run dry on capitol hill. The battle is waging on how much money, how much to add to funds to help business and American Workers now. Coronavirus is taking a toll on the chinese economy. It has contracted 6. 8 in the First Quarter. First ever quarterly contraction and wuhans death toll revised up 50 adding fuel to questions of beijings actual reporting on the virus. Secretary of state mike pompeo live at 8 30 a. M. Eastern on the possible origins of the virus as more people focus on the lab in wuhan, something that ive been putting the spotlight for months. What actions can be taken to china for lack of transparency. Mornings with maria begins now. Positive news on gilead. You saw the
Energy and Resources Committee is about two hours. Over the past few years, since six have been working to understand the challenges around ai and various issues. Argonne National Laboratory in illinois, Lawrence Livermore, Lawrence Berkeley in california. Those are the most, new mexico. And oak ridge, tennessee. The labs work in bringing together both fundamental science and National Security missions. This hearing will examine their findings. This hearing will also discuss the 1. 8 billion exit scale Computing Program that the committee authorized. If we want to invest in ai in a costeffective way, we must build on existing programs and avoid wasting resources and duplication. Most people think about the department of energy for his work advancing Energy Technologies like nuclear reactors, energy efficiencies, Carbon Capture and hydrogen. Doe does more than just energy. The Department Also is the largest supporter of physical, Scientific Research in the federal government. Conducting