The print papers revenue. Mark thompson, one of nigh favorites will be here for an inclusive interview. Power lunch starts right now vaccine hopes and more stimulus on the way is helping Investor Sentiment loes that weve seen, the moves today, the s p 500 roughly there abouts is now, get this, roughly just 2 away so it may not be at records just yet one other place that was giving that stock a big boost off the session highs. And capri holding, the Company Formerly nose an michael kors are reporting sales that may be getting back to normal biff, both of those stocks well off the highs of the year. The gdx ticker there that tracks is up far more than prices, so, yes, gold continuing that run. Back over to you lets take a check of is the bond market. The cme, hi, rick. We had some powerful data and what did that do it gave us one of he rare bounces. But its all about Foreign Exchange asdom pointed out and they you aro seems to be king they seems to have gotten their issues in rough order. Look at the dollar versus the offshore yuan. The dollar is suffering a bit here, lowest levels since march, but flip it around, its hovering around here best levels in six year. Kelly, back to you. A lot of great stuff in there, thank you, sir. S jack, what will you be a buyer every . I would do it in a technologyneutral way, given that the s p 500 has roughly 27 dedicated to tech, annual only about 8 or so if you can do it and keep that tech exposure intact, youll get into a is it cheaper market with a tailwind of a weaker dollar behind you. My team and i tend to look at this in two distinct time frames those leveraged to stay at home will continue to blow away their earnings those should continue to experience tailwind. When we look at post election as we play a cyclical recover in sector sectors so well have evaluation support and surprising Earnings Growth thats a unique situation. So we like for the long term to look at those sectors that are cheap. Its a great point. Much better earnings than was feared you know, the momentum is on an upswing. Why not go for u. S. Stocks. I think its where we are in the cycle. Their economy is coming back in force much quicker than ours also, theyre trading at a discount, so you might as well buy growth at a cheapers valuation. I think you can still own foreign names and keep the technology weightic the same all in all its been a pretty good trade trading between 6 , 7 , probably higher than the major peers and some of the currencies probably 10 , the end almost 20 . So, greg, before we go, i do want to minks, its a tricky one. Obviously as soon as we do get the breakthrough news, you can see this massive pentup demand being release d so here, too, yo have to look at two time frames. What we are seeing now is restaurants that ares structured, have at this point attracted the attention, as they should things that are levered to an a. M. Mix have been out of favor. Things that are levered to more of the lunchtime and dinnertime, and that are built for and on a platform of delivery, theyve been able to thrive in this environment. I think youll continue to see that as you rightfully point out, once we are past the vaccine, and once we have attained the herd immunity we are looking for, theres a lot of pentup demand i think youll see powerful Earnings Growth in the rest of the group in 2021, so the question is when do investors start to Pay Attention to that 2021. Thats the big quick. Thank you both for talking us through these markets. That is the best background i think ive seen. The haircut wasnt bad, either hes looking pretty hot there. Rackspace and bigcommerce, who Tech Companies from texas, leslie picker has more on these companies. High, leslie. Both companies, youre right, they are tech sass, thats software as a service. Thats about where their ipo similarities end take a look at shares of bigcommerce, that stock tripling this is a austinbased competitor to shopify, and then apollobacked rackspace. Plummeting after pricing at the low end of the range so what manx bigcommerce soar while rackspace sours . There are many factor, but it largely comes down to growth rackspace had practically about the same revenue but bigcommerce jumped 22 even though rackspace has gone toward a recent transformation, it seems like they have seen the rackspace before especially during these uncertainly times, guys. A question by followup rockmortgage expecting to trade tomorrow. Rocket companies, thats the apparently company for quicken loans, rocket mortgage, as you mentioned, they are having pricing discussions right now, according to people familiar with the matter. The conversation they have shared is that, you know, demand is lower than expected they have already lowered the price range. He didnt have a filing on this. They communicated a lower price range to investors at 18 to 20 a share final decisions will be made after the close today in a brings the size of the deal down to about 2 billion, which is down about 60 from what the were targeting i put this in the camp of rackspace. Theyre just having trouble getting the demand out there. Coming up, the dow and s p 500 higher for the fourth day in a row. Materials and industrials leading the way. I havent said that in a long time New York Times beating earnings this morning. The stock is lower even as the digital revenue tops print revenue for the first time outgoing Ceo Mark Thompson jns usex nt. Oi you say the customers make their own rules. Lets talk data. Only Xfinity Mobile lets you switch up your wireless data whenever. I accept. 5g, everybody is talking about it. How do i get it . Everyone gets 5g with our new data options at no extra cost. Thats good. Next item, corner offices for everyone. We just have to make more corners in this building. Chad . Your wireless, your rules. Only with Xfinity Mobile. Now thats simple, easy, awesome. Switch to Xfinity Mobile and save up to four hundred dollars a year on your wireless bill. Plus, get two hundred dollars off when you buy an eligible phone. Shares of New York Times are down a bit despite a Second Quarter earnings beat. The newspaper giant added 669,000 total digital subscribers. Ad risen dropped by double digits for the first time digital revenue overall outpaced print risen. Here is Mark Thompson, the ceo and president of the New York Times. Welcome and congratulations. Youre stepping down in a couple months to be replaced by your c. O. O. Congratulations on a good run at the times. Thank you. I know one of the things you wanted to do is push the times into the digital present or the Digital Future how would you say its gone . Now youre leaving with digital revenues greater than print revenues. Its a big watershed moment for the company. We dont think its likely well go back from this moment the times is a physical paper. Its a great newspaper it remains pretty strong, which is why its taken a while to see this crossover point, but digital as grown enormously over the last eight years when ive been chief executive Something Like 360,000 digital subscribers, and were getting close to ten times that, 5. 7, i think digital subscribers. And total subscriptions are four times what they were indeed as much as much larger than the glory days of print times. So weve made progress and increasingly a very big audience, we reached 240 Million People in a single month that makes firps and foremost, most of them get on the smartphone many will never have seen a copy of the fill paper. More and people do consume it online and i guess im one of the oldschool types that gets the print paper. I also spend a lot of time on my telephone, probably more of my news product on my telephone than sitting down, except on sundays when i have more time for that lets talk about ad revenues those were down. Whats going on . We performed a bit better on the digital side than we thought we would, but essential what we are seeing is the very significant nearterm impact of covid19 the whole industry is feeling that were certainly feeling it because of the changes we have made in the Business Model, though, advertising is a quarter, in some quarters less than a quarter of our total economics, so above the advertising the losses are significance, but looking at the profitability as a whole, the picture is much more mixed what the market has seen is the underlying engine of digital subscription growth, with really quite spec take lars yearoveryear gains. Lets talk about your goals for subscriptions overall. I think if im recalling quickly, you set how achievable is that and by when . Well, i set that milestone for the company not more than 18 months ago, early 2019 when i said companies should aspire to 10 million total subscribers by the middle of the 2020s. Inside the building, people were saying, mark, how will you do that here we are 18 months later. I think we have 6. 6 million, so were pretty much two thirds of the way there with another five years to go i have to say handing over the reins, i think 10 million is inevitably achievable, and if anything, the company is ahead of schedule. I think we should reset our idea of how big a subscription for a News Organization could be the past few years, some would say ironically have been remarkably good for the New York Times despite the assaults on the times reputation in many quarters, including from the white house, the failing New York Times, which clearly it is not, are among the refrains that we hear. You have spent a career in journalism how healthy is journalism today, in your view you can talk about the times, more broadly youve worked at the bbc, print journalism here, what do you think . How healthy . Well, dickens line from the tale of two cities, its the best of times, the worst of times. I think you can have a fabulous profitable business, but elsewhere were seeing threats to journalist particularly at the metro left in the u. S. These are organizations that often had the scale to get the engineering, the computer science, the Digital Product people in to create really fabulous digital experiences theyre seeing the print businesses, even their existing Digital Advertising under pressure so i think there was a reckoning coming, and i do think that the Public People in the media, our industry, the regulators, and in some cases even will have to think quite hard we need the public the world needs great journalism now more than ever, to finding sustaining model will be even more important i think well see more failures than successes, im afraid to that extent New York Times is the exception that proves the rule, i think. I know you just said the world needs great journalism, but the watershed moment for many people vab the collapse of free speech and stead thought, the resignation of barry weiss, in her departure intellectual curiosity is now a liability at the times, standing up for principles puts a target on your back does the New York Times really stand up for great journalism still . I believe it does barry was an opinion writer, and shes certainly got opinions the obviously, in our news pages, online as well as in the paper, the times always striving to be objective. As for opinions, this is an incredibly polarized time in this country and the world, and some of that polarization and some of those arguments inevitably happen inside our building i think it would be rather weird if New York TimesOpinion Department was entirelies insulated from the anger and tension thats there honestly i have agreed admir for our outgoing head of opinion, and a. G. Salts burger our publisher i believe are all passionately implied to expressing a broke broad range of views, perspectives from the right as well as the left, and from every kind of diverse walk of life. I still believe thats part of our an important park of our mix s ime. Im just not sure that the broader public believes that i think in her her as well, she says a new consensus has emerged in the press, but especially at this paper that trust isnt a process of but orthodoxy already known for an enlightened view, and most people see New York Times opinion section in particular as leading this entire move in society. All i can say is im a journalist myself of four decades standing i grew up in a completely impartial environment in the bbc. I absolutely do not believe what the New York Times either does or should do i recognize theres a debate around the boundaries of what is acceptable in political discussion, and discussion on difficult and painful issues around race and diversity and so on i believe the times should be a platform on which that debate takes place, and, you node, within sensible bounds, you know, perspectives, intelligent contributions from every position should be represented. I want to turn the conversation maybe 20 degrees to port here, and talk about the fact that not only the New York Times, many, many News Organizations including our own, nbc and our parent, were perceived to be and probably were in 2016 way, way, way out of touch with the country we didnt get it right in terms of polling, in terms of analysis, in terms of a lot of things that were going on in the United States do you feel confident that the New York Times is now better positioned as a journalism enterprise to get it right this time i ask that in part because i think there is a perception as kelly seems to be hitting at here that the times, even if its news coverage, begins from a critical point of view with respect to the administration and the president , and that in doing so, negates or doesnt consider those parts of the country vast red parts of the country if you look at the electoral map, that support of president. Are you better positioned day than 2016 to get the to read the country right . So its a fair question one of the benefits of the success weve had on the business side is weve got more money to spend on journalism we have hundreds more journalists now than we did back in 2016. Weve got a substantially big are newsroom that makes Good Business sense texas is a great market for New York Times now. Ohio is a great market we are reaching new subscribers across the country and, you know, i want to say across the spectrum as well, we do probably have liberal subscribers more than but were reaching deep into the land. And hes fully committed to americans across this country, to absolutely include the experience of those living in red states as well as on the coasts and in the liberal heartlands i want to say u. S. Elections are close to call. We went into 2016 saying it was strongly likely Hillary Clinton would win, but there was a real chance that donald trump would win, as he did i think this is not really about shouldnt be really about contradicting a horse race its about are you doing justice to the breadth of the debate and the way in which politics are playing across the u. S im absolutely certain that dean and his colleagues are determined to get that right in 2020. Congratulations on a terrific run at the New York Times, and and whatever endeavors are next for you good luck and good fortune. We hope to get to see you, on election night. It will be fun. Thanks a lot. Thanks, Mark Thompson the stock has been a high flyer. Apple is also near its alltime high. One top analyst says the stock has more room to run he will explain us to explain why. And another stock is etsy. The traders will tell you what they are watching ahead iofts earnings after the bell. More power lunch, next come on in, were open. 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Buy now and get two days free at the parks. Restrictions apply. Welcome books. Etsy hitting an alltime high. Both buyer and seller engagement will be top of line for analysts a 14 just this week martin of newton advisers, are the trading nation team today. There may better more sellers on the platforms, specialized face masks among other products, but are there buyers for those products yeah, theyre checking every box. Its an ecommerce platform, Unemployed People making trying to make more cash, and its a low cap ex Business Model that doesnt really cost nick but for me, you know, the valuation is a bit too rich, trading at 100 times earnings, 50 times operating income ten times next years sales to you know, i was waiting on the side, waiting to hear what management has to say. Will they deliver . You know, i think its a greats stock so, you know, you look at things like momentu