Busiest day of earnings season and as we await a vaccine, more positive news from one drug maker about a possible treatment. You are watching Worldwide Exchange here on cnbc good morning, im dominic chu in for Brian Sullivan. We begin with stock futures pointing to a possible turnaround with the dow kit e indicated high, 175 to the up side, s p up by 27 and nasdaq up by 125 the dow and s p are coming off their first single day performances since june 11 the blue chip index seeing its fourth done day wn kaday in a re late february. Since the selling began on friday, the dow has shed a total of 1843 points, roughly 6. 5 it is on pace for its worst monthly performance since march. And it wasnt just the dow Big Technology also taking it on the chin over the past couple of days take a look at facebook, alphab alphabet, apple, tesla, and more together losing some 270 billion in market value just since tuesday alone. All of this coming as the u. S. Reporting its highest number of coronavirus
Regarding microsoft. Some people did not like the quarter but now we have something that puts them right it not passing in terms of the growth google and facebook among a certain demographic that people want which is the 18yearold demographic. I go on tiktok and there is a good one right now about Federal Express delivering packages versus u. P. S. Versus the post office david, your kids may like it at the same time, its got a lot of viewers it does 80 million here in the states. Yes, one of mine does typically it does skew more female than male and the other one doesnt but this is a fascinating situation, guys, for any number of reasons unlike anything i can recall having seen in part because the government is so deeply involved inbasically dictating the potential sale of a business to one company. And it really ends up being one company. You know, as you guys know, ive been following this to a large extent over the last few weeks and it was a difficult thing to imagine. How would go
Just might pay off big time. We start with an earnings load on netflix, moving sharply lower in the afterhours session down by more than 10 . Netflix plummeting after it reported a miss on the bottom line in fact, its biggest earnings miss in 16 years netflix also giving far lower than expected guidance for the Third Quarter subscriber editions, forecasting the edition of 2. 5 million new subscribers in the Third Quarter, less than half the number analysts anticipated. As expected, growth is slowing as consumers get through the initial shock of covid and social restrictions. Now the chief content officer has been appointed coceo and is joining netflixs board of directors, saying in terms of the day to day running of netflix, i do not expect much to change our key executive Leadership Groups are unchanged think of teds well deserved promotion formalizing how we already run the Business Today when the call starts in an hour, well be listening for more on the impact of competition, name c
Andrew ross sorkin with joe kernen becky is off again today a little in the red. The treasury yields and earnings that may have an impact on all of this. The 10year note, we are now below. 6 we are down to. 592 we can debate what that means for today. Discussing Market Recovery and earnings Kansas City Southern and United Airlines ceo and health and Human Services secretary you want to stay tuned to squauchl the nasdaq down pretty significantly. It was up two or three hundred. It was up and did you know and up and down. It was really crazy. You heard cramer talking about that it was truly crazy. Insanity. The didnt hold on to the big gains. I think it was down almost 300 when cooperating on that at the end of the day, well see. I heard it said, well, you gave him an out he could have been resting on his laurels by now saying i would at least nuance it so i could claim to have been right if we had extended here. Doesnt it feel extended here. If i were paulson. Fur trying to be right all
Teen day quarantine for visitors for more than 50 countries. The trial of 20 saudi nationals accused of killing journalist Jamal Khashoggi has wrapped up for the day the trial is being held in istanbul but the accused men there meaning justice will be limited at best. Widespread condemnation including from the un special rapporteur on extrajudicial killings here today urged the International Community to not let the case out of its side. I call on them to ensure that in the last next session in november that they are far greater International Presence so that we continue to deliver that message to saudi arabia and to the rest of the world that you cannot get away with his killing a joy in the least and lets not forget that these is a state exec you shouldnt of course we are focusing on individual sport this is a state executive this is why the presence of other states of other members of the International Community is important to this day remains have never been found child struck the