Twist. Walmart teaming up with microsoft in a bid for the popular social media app both stocks rallying to new alltime highs on this news. Julia boorstin has the details. The news keeps coming on this one. Reuters just reporting tiktok engineers were told to make contingency plans should it need to shut down u. S. Operations they are preparing for various scenarios including a forced shutdown telling us they are simultaneously developing plans to make sure u. S. Employees continue to get paid on the heels of any outcome. Walmart is teaming up with microsoft to buy tiktok. Walmart telling us, quote, we believe a potential relationship with tiktok u. S. In partnership with microsoft could add this key functionality and provide walmart with an important way for us to reach and serve omni channel customers as well as grow our Third Party Marketplace and advertising businesses dan ives tells us, quote, we believe microsoft buying ticktoticktok would be like Christmas Morning coming early fo
And individual names getting lower. That keeps it pretty much unchanged year to date we have a massive show coming up discuss the latest stimulus negotiations th thats any minute now its the key question for the markets today. And then as the heat gets turned up on big tech, well talk to the always candid ceo about the precious ceos facing testimony tomorrow and the stay at home trend a huge swell of tech earnings coming to day and later this week. Lets start with the broader markets. Mike, over to you. Thank you we have markets on pause for the most part today. Bond market is qui wet yields at the lows stock market, too, is hugging this very familiar area, basically flat on the day. That is an area of attraction. Well see fit lasts for now. It is the defensive factors. The ones that benefit from low yields that are up today, real estate, staples and utilities. Take a look though at a couple of indicators as we wait for the fed decision tomorrow. Whats going on and how quiet the bond m
At 211 a share, now its 213 up again, those two Companies Amazon and microsoft have huge and growing cloud operations. That is a big part of their stock rally. Now look at tesla, 142, yesterday closing 1600 a share and this morning its up 11 bucks, 1654 but it is up again, are these tech stocks a bubble, is it like the dog, the late 90s, ive never seen anything like this before. Now look at the overall market, the Dow Jones Industrial going up again, maybe 150point of the opening bell, the s p of 21 points, two thirds of 1 . Look at the nasdaq, a half percentage point and more because a big tech again. The market is also getting help from the europeans who reached agreement on a near trillion dollar rescue plan that helps and they are still negotiating a plan for the United States as of right now. Bottom line, big tech in the market going up again today. A different story in our cities there is a confrontation going on on one side local largely democrat mayors on the other federal auth
Spiking cases of coronavirus. Not entirely. Lets go to Jackie Deangelis. Reporter it was news the markets climbing higher because of news of potential positive data coming from an ongoing pfizer, buy on tech covid19 vaccine trial. That got the ball rolling this morning with the optimism. Remember, the market looks at it this way, the sooner there is a vaccine the sooner businesses can resume in the normal way without threats of reclose you are sure or slower reopenings. In texas, testing sites are being flooded in the state as it extend as ban on elective surgeries. Last week, texas shut the bars, reduced restaurant capacity to help reduce the spike of coronavirus cases. That flowed to other states. Theyre looking to that as the model. Here in new york city, it definitely postponed Indoor Dining because it is closed spaces believed to be more problematic. American airlines is taking even another step, sort of turning a blind eye to this, resuming full flights starting today, ahead of t
The reopening of america. Take a look. Dow futures turning negative down 19 points but the nasdaq is up 9 and s p 500 is also negative down about 1 point, mixed story this morning, dow and s p 500 snapped 3day winning street yesterday turning negative by the close, dow down 170 points, nasdaq was up 14 but s p down 11 and a quarter. Secretary mike pompeo meeting with chinese top diplomats as issue on trade, human rights and coronavirus heat up, john boltons new bookmaking claims about President Trumps relationship and xi jinping. Protests in atlanta to report. Meanwhile an Capitol Hill Senate republicans unveiled Police Reform bill as House Democrats call for more action. Coming up at 7 00 a. M. Eastern this morning new york city mayor Rudy Giuliani will join me with his valuable insight on policing in america, the former mayor today telling us his reaction to all of this. Then cracking down on big tech, Justice Department looks to limit protections enjoyed by Technology Companies as c