In syria we will weigh the investor implications later in the show, Sam Bankmanfried tells his side of the story as the disgraced ftx ceo takes the stand. It is friday, october 27th, 2023 you are watching Worldwide Exchange here on cnbc good morning welcome to Worldwide Exchange. Im frank holland. Happy friday lets kick off the hour with the check of the u. S. Stock futures. The dow would open up 100 points higher its early this comes after another rough session for stocks yesterday which saw the s p 500 close at the lowest level since may falling more than 1 for the week, every major index is down 1 or more led by the nasdaq eyeing three straight losing weeks red across the board the nasdaq is the hardest hit. S p down 3. 5 week to date a big part of this is microsoft and alphabet losing on the week and shedding combined 190 billion of combined market value since monitor the entire market cap of comcast, salesforce, mcdonalds or netflix. We are checking the bond market with a look at
Company could file for accuracy as early as monday. At the end of the day, this is a fascinating story gone wrong. Set aside some money to fix the land from its production, basically. They do the thing where they say, we will take care of it ourselves. In note on their balance statement. They had 90 days to get more money to get insured. It could be a potential reason for why the money thats why they had declared bankruptcy. That is might we see more like this . He could be the domino effect. Alix they could also be under pressure as well. Betty much more ahead. Top stories. Alix this high with funding bill. Transit money will continue and we to three states will pay the bills until the end of october. 91four. Proved by bill there are roadblocks standing in the way increase in Interest Rate. They say they want to see some additional gains before raising rates. The former fed governor said there is a scenario in which the fed may hold off for a little while. Inflation has been quite low
Secondquarter revenue, 74. 1 billion. That is the number that we were looking for for revenue. Once again, secondquarter earnings per share one dollar. 74. 1 billion, secondquarter revenue. Scarlet thank you so much for that first read on exxon mobil results. We have alix steel. This is our moment. She is busy looking through all the numbers. This earnings pershare number. Matt versus almost three dollars last year. It is an amazing drop. Alix we do want to hear where the miss actually happened. The common theme for earnings has been production and job cuts. What they do with production is mattering a little less. Can they keep their dividends . Do they have cash flow to cover it . That is the focus. Every quarter, it is usually production, production production. That came in bang in line. Those metrics matter a little more. We are getting a reading on capex comeing in at 8. 3 billion. Scarlet we were talking about production. Why is it significant to meet Production Target . Alix big
Ftse 100, italy, spain, all up. Looking at crude. Wti sitting at 50. 91. Lets get to that microsoft story. It is the top corporate story. Shares of the tech giant popping on better than expected quarterly results. The big driver, the cloud. The shares of the microsoft product doubling in the most recent quarter. The stock hitting an alltime high in afterhours trading breaking through a level hit at the peak of the tech bubble back in 1999. Its going to close in on a half trillion dollars again. Its great day to have ballmer on. He took a lot of flack for not turning it into something it wasnt. In hindsight, now that we have the benefit of hindsight, he kept that thing moving along. Increasing revenue. Maybe the share price didnt go all the way back. Got pretty rich himself. How much does he have left . I expect him well have him for an hour. I expect him to be in a really good mood today. Because of the stock price. Very few of us get like 4 billion richer on wake up in the morning. I
Julie hyman has been keeping an eye on the markets. Some interesting lows here in the united states. This really risk off five to the market. Stocks are not down even as much as they were in the opening bell. Two thousand 94 now on the s p 500. Take a look at what is exactly at work here. Consumer staples and industrials also down. That has been counterbalanced by an increase in financials. Is not the case here in europe. We were watching that big deal that was announced. We are at 196 dollars per share, nearly a 50 premium. Isrosoft on the flipside falling. Also we are watching and other going on this morning. The Cyber Security company is close to buying google buying blue coat systems. They found semantic had been in talks at one point deciding not to proceed with that deal. And then also we wanted to check on oil, which continues to decline. Their peers to be some concern about the supply. Technologies remain lower. Keep an eye on those today. Getting more headlines on the microsof