On well see how it goes. Its been a brutal stretch of selling. Apple under 170, meta plunging nvidia threatening to close below 400. Microsoft not even able to get much going more broadly, yes, we are watching the s p 500 it closed below that key 4200 level yesterday. You take a look here, its moving further away. Health care energy among the weakest sector whether were only lets ask dave greenhouse, and Big Technologies alex canterwitz both are with me on set. Gentlemen, good to see you dan, you first the trade has not been good. What do you think of the market . Listen, ill leave the techspecific to alex, but i think the meta report looked fine some of the other records, microsoft good, not bad at all, but its an important environment for a number of reasons. You have the two wars, the budget in congress, obviously Interest Rates doing what theyre doing, so im not surprised that good enough is not good enough. The reed today was pretty good but, you know, they looks like they may be
Microsoft, which is still up 3 , down 10 at the moment. Lets start with the house vote Emily Wilkins has the details. Reporter hey, kelly, after 22 days, the house finally has a speaker. Congressman mike johnson of louisiana. He got all republicans to unite around him, all 220 were voting today, one absent, they voted for johnson, now officially becoming the speaker theyre in the process of swearing him in. As soon as they do, hell have to get right to work the house has wanted a shod of support for israel, but theres also the upcoming government deadline, johnson has laid out a very aggressive plan to pass the eight remaining appropriation bills before that point. Johnson will be a bit different from kevin mccarthy. Hes much more conservative, and a little further to the right. One major difference is he hasnt supported a lot of ukraine funding. Back in may, he voted against sending 40 billion to ukraine he also voted not to certify the 2020 election, and opposed the current stopgap m
Once again stoke inflation. Governments are seeking alternatives, while still trying to balance the short term need for oil. The alternatives could also help tackle Climate Change and keep global temperature rises to 1. 5 above pre industrial levels. Just last week, the International Energy agency renewed its assertion that no new gas and oil projects were needed if the world was to meet that goal. Opecs Secretary General told my colleague, sally bundock, that the group doesnt agree. We have always, at opec, talked about the concern we have for future under investments, as some have called for stopping investment in oil. We believe this is equally dangerous. This will lead to volatility in the future, possibly supply shortages. And therefore, we at opec have always advocated for the importance of continuing to invest in the oil industry, as we also invest in decarbonising the industry and move on to adding other forms of alternative energy, such as renewables. From our perspective in o
Companys ceo as it also gets ready to report after the bell speaking of earnings, it is the busiest week of Quarterly Results, nearly onethird of the s p 500 and 20 of the dow are reporting. F apple and amazon lead the way this week. Lets begin with tesla, rallying in the premarket today, following musks visit to china. The company, winning approval to roll out its full selfdriving technology in that country, jim. This is a partnership with baidu, being called a watershed moment for fsd you need to have i remember when i rode in a waymo, which is googles product, you had to have the google map you just need this infrastructure in order to be able to make it. It was obviously being withheld. Is it worth 22 points . I think that people were short tesla, betting there had to be more lets say, more earnings problems i mean, theres an evercore piece, lowering price target, that was probably prechina. But david, there is a sense among the companies that make selfdriving that theres this holy
The averages were almost a side show compared to these two. Both instructive about what can make a stock go high ner this market. You wouldnt expect the market to be this benign. The biggest earnings week of the year. Worse than the fed meeting, the how did apple stock rally . Tesla stock, 15 . What happened . Ive been saying tesla stock keep going down and musk pulled a rabbit out of the hat. He bagged a terrific one this weekend. When he got permission to sell a subscription based full selfdriving for the tesla giant, which gives him a whole new revenue stream. A big one. That can go a long way to restore price momentum after vicious price cutting in china. Just as important as how musk got it. He made a surprise trip to china and nailed down a deal. This is unbelievable. Also perfect example of a ceo redefining narrative had so much going on he hadnt been paying attention to tesla. He got on a plane and made a deal. I cant think of anything similar in the annals of American Business