we get about half our customers from google. apple, less so. le is the most important partner that we have. they: speaking from perspective of a developer, i use the redfin app probably more than i should. but what is your perspective? we have heard a lot of developers say, this is not fair, they are charging us way too much. others say that is just the cost of doing business. they should be able to charge rent for the service they provide. glenn: we are not paying anything for apple's app store placement. we do not charge you to use the redfin app. we can't complain, it is an amazing platform. if you are trying to monetize that traffic directly through the store, and having to convince that apple takes a piece of, that is a totally different story. as for google, we pay google to appear and we also appear for free. we just want to make sure that there is competition. if there were only one search provider and there were more advertise placements at the top of every search result, it would just make it harder and harder, especially for a new com

.>>> condemning a report on apple facebook google and amazon. and what lawmakers want to see happen next. the unfair money bail system. he, accused of rape. while he, accused of stealing $5. the stanford rapist could afford bail; got out the same day. the senior citizen could not; forced to wait in jail nearly a year. voting yes on prop 25 ends this failed system, replacing it with one based on public safety. because the size of your wallet shouldn't determine whether or not you're in jail. vote yes on prop 25 to end money bail. vote yes on prop 25 to wear a mask out in public around other people. sure it'll keep you healthy. but more importantly, i won't have to see your happy smiling face. ugh. and if you don't want to wear a mask, i've just got one thing to tell you. scram, go away. ugh. caring for each other because we are all in this together. so wear a mask and have a rotten day, will ya? ugh. >>> a push on capitol hill tonight to break up intact after 16 months of investigation and hearings a democrat led house subcommittee concluded face

earnings reports that we will be getting this week specially from the big tech companies microsoft apple google facebook and amazon those 5 companies alone stand for roughly 20 to 25 percent of the market capitalization of the s. and p. 500 so you can imagine if those companies should miss was their earnings i mean that would put more pressure on the market on the other side if those numbers should be brilliant maybe that gives wall street a little push specially after we had a little di fear on monday with new corona cases it was a new record in blue chips losing 650 points and besides those earnings especially on thursday we will also get the 1st estimate on economic growth for the 3rd quarter in the united states and a list believe that we might have seen an increase so gross of 33 percent in the 3rd quarter that would be a new record but clearly that would come after we also had to record dive in the 2nd quarter so wafer of numbers and all of that ahead of the presidential elections that also just one week away presidential elections there's that to our financial correspondent younes carter

spotify, apple, google. let me know what you think. dow up 242. we'll be right back. liz: okay.ime time for trading at amazon. you have 12 minutes left to buy, sell or hold shares which right now are up 2.33%. third quarter results are coming after the bell. to lauren simonetti with what investors need to be watching with amazon. lauren: hey, liz. well, first off, it's going to be hard to impress wall street, but amazon's going to try. they are expected to say that revenue will grow 32% to $92.7 billion in the quarter. earnings to rise by 75% but remember in the second quarter, amazon's profits came in five times the estimate so like i said, investors are hoping for another blowout and they might be disappointed and sell the stock if they don't get it. we'll see in the next couple of minutes. but this quarter's probably going to be a little noisy. you have many brick and mortars that were open and quite busy in july. that's included in this reporting period. and that could hurt amazon. second, it spends a lot of money, particularly in two areas, covid-19 safety and expanding ful

competition commissioner moderator best tiger has long been a thorn in the side of the likes of apple google and facebook now she says her proposals will lay down new regulations for those companies finally creating a single market for digital devices. she sat down with t.w. business reporter. thank you so much for joining us today commissioner it's a pressure now digitalisation is of course a very important topic in europe and with your digital services do you would like to see a range of rules imposed on big tech companies like facebook and google and apple rules like making them share their data with smaller rivals what is it that you think that they're doing that is so wrong. well the last time when when our democracy sort of said things you can do things you cannot do that was back in the digital stone age that was the year 2000 and no one back then imagined what's what what would be the case of our reality today so when you then grow up and you become stronger then of course comes responsibility. and we need to say to some of these service providers you have a responsibility for the wa

emily: google has pointed to the ability for folks to download whatever app they want. if that is the case, why pay billions of dollars to appleo be the default, if it is so easy to change the default and find another option? >> people are using google because they choose to. when you look at being -- when you look at bing, the number one search term globally is google. it is no different than when you , these areupermarket promotional agreements so that people can continue to reach consumers. just: a huge election is weeks away. but a change in administration change google's fortunes? biden has not given detail of where he stands on antitrust, but to be fair, you are facing scrutiny from both sides of the aisle. scrutinized at length, especially in the united states when the federal trade commission investigated all aspects of our business. no matter who is sitting across the table from us, our role is to answer the questions, provide clear evidence and data. statesyou have 11 other that have signed on to this suit. this is on the back of a house report where a largely democratic house committee has made an argument for the p

we had a design and three weeks and a week later apple and google said we will do that. and a month later it was already deployed into both of their mobile operating systems. we are now in a more complicated process where public health authorities all around the world are trying to figure out how to use that. we are working closely with a number of them to make this work. we move from what is a narrow technical question, how do you get phones to recognize when they are in proximity to each other to how do you integrate a system like this into a very complicated process that people are talking about a lot. ? i am hopeful in the end this will make a contribution to the ability of public health a diseases to contain in different places around the world. there is a lot of complexity to it. there was a lot we have to learn , partly technically but more from a health policy perspective, how to do this and make sure it is done equitably and accurately. >> professor, and how do you see that happening? would somebody get an alert on their phone when someone who assisted deposit i

and google always at deal to prioritize apple -- prioritize google on the safari browsernow we know that apple was paid $8 billion by google in order to make that happen and that 50% traffic actually came from apple devices. so that is significant when it is not just one company, but two companies working in concert. hen's argument that they don't believe this has harmed consumers, that consumers have infinite choices and the doj thinks otherwise. shery: we know the democrats have traditionally been harder on regulations when it comes to tech giants, so what happens if we get a blue wave november 3? emily: these companies and google in particular are facing scrutiny from both files, not just democrats come up republican as well. i just spoke to the public and senator marsha blackburn on "bloomberg technology," who has been pushing congress to examine the power of big tex. if biden becomes president, he hasn't detailed his thinking on antitrust yet, so we don't necessarily know. hadi will say that you have democrats in congress, the house in particular, that have raised a

the reason congress didn't pass might be because it didn't have to, because apple and google were sofar ahead of the public relations crisis and it's a technology can't be heard. when a company is fighting a broad perception that data, consumers are constantly exploited and abused by not only the big companies but also the small companies that make use of their services, then they are understandably reluctant to put together useful data for the public health services. >> does anybody want to comment on that? >> from the company perspective we have to assure consumers as a provider of the services that we have at the heart their interest, that we are going to responsibly bring technologies into the world and we are transparent and with privacy and security at the heart of everything we do and that is a constant consideration and one of the reasons i think why we are supportive and i know we will talk about the landscape and privacy legislation, but i do think, i don't agree there are laws out there that are broadly protected by consumer interest i also do agree that firms just from a

and a week later, apple and google said ok, we're goingo do that. and a month later, it was already deployed in both of their mobile operating systems. we're now in a more complicated process where public health authorities all around the world are trying to figure out how to use that. we're working very closely with a number of them to try to make this work. anand we've moved from what is nair -- narrow technical ququestion. how do you get phones to recognize when they're in proxim with each other so how to integrate a system like this into a very complicated public health process known as contact tracing that people are e talki about a lot. so i'm hopeful that this will in the end be able to make a contribution to the ability of publicealth authorities to help contain the disease in all different places around the world. but there's a lot of complexity to it. and there's still a lot we have to learn, partly technically but probably more from a health policy perspective of how to do this and how to make sure it's done equityably and accurately. pet

. >>> and we are learning more about the antitrust lawsuit against google and how apple may have helped google become the dominant search engine. >>> before we get to those in california, we're the only state where wealthy trust fund heirs get their own tax loophole. these tax cheats avoid millions in taxes on vacation homes and coastal mansions depriving our schools. prop 19 closes this unfair loophole that's been exploited by an elite few and helps our schools, firefighters, and seniors. vote 'yes' on prop 19. tell them [record scratch] the party's over. >>> all right. here is a look from sutro tower this morning. you can see it bouncing around because of the winds. let's break down your day. we've got mainly 50s out there through 7:00, 60s at noon and we will hit the 70s this afternoon. a mild breeze no doubt, temperatures average if not a little bit above average. by 7:00 we are back in the 50s and 60s. here is a look at our wind gusts and this is at 5:00 and you can see there still potential for 30 to 40 mile per hour winds and then by 11:00 when it fades the wind advisory most of

both apple and google know how easy it is for customers to use a different app and a different searchine. at the same time apple includes the google search function in its own browser be the only reason i would do that because it tanks it's an excellent search function and will reflect well on apple. the argument that he could be turned around to say that google provides an excellent product in a competitive market has the dominant share because it does the best job. paul: it occurs in all kinds of industries. they will pay you to put our product in a prime position. >> sure. it happens to consumer markets all the time but the stuff that's on the shelf at eye level doesn't get there by accident because mrs. butter is worth pays for that prime positioning in google makes the same argument here but the other thing about this is the justice department says google blocks innovation but there's a huge amount of innovation. there areas the google doesn't have access to like facebook and instagram and twitter for advertising purposes that gold -- google doesn't have access to. google's world

big tex, we have a damning new report on apple facebook google and amazon.>> the democratically led house subcommittee says that these companies enjoy monopoly powers and is recommending congress update the antitrust laws. >> reporter: the democratic subcommittee has been looking into the companies for the past 16 months, they have held hearings and have done interviews and now they published a report that could lead to big changes for the company.>> this is just the beginning of the examination into whether these companies are too big.>> reporter: the 450 page report examines each companies business practices in the case of apple the report looked at whether the app store is open to competitors. >> because you can only get apps for the iphone through their app store apple controls everything that goes in that store. >> reporter: and whether facebook has too much control of social networking.>> it owns most of the important platforms, there's facebook and facebook messenger, instagram, and really just is a big either.>> reporter: the report recommends that companies be broken up or restru

interesting is before this covid lockdown, those companies -- i'm not talking about facebook, apple, google, netflix, they're pretty good at tracking and retaining talent. i'm talking about companies like deloitte or nestle or bank of america or pwc, great incumbents -- great companies in their own right. they knew they had to go out of the four walls. brain trust connects that talent with companies like that. before the lockdown, scott, you had to sort of do thinking in these companies like, hey, we know that it's going to be tough to hire these people because we're not big silicon value companies. we kind of like the seats, we want them here in our office. so, yeah, we'll try something like braintrust where you're going to get me remote people, we're going to manage them over the internet. then the lockdown hits, and now everybody's a remote company overnight. and so it's just completely changing the way knowledge workers generally are organizing, whether you're tech or non-tech. >> you're talking to these companies, and you m asking them about their future plans. what are you hearing as

four people usually cited, apple, google, facebook, amazon. some people throw microsoft in there. a lot of power. facebook and google together have the majority of advertising on the web. and just about 100% of the profits from advertising on the web. and google gets its money from search. they have, what most people would consider a monopoly in search. they have well over 80% by some measures over 90% of all of the searches that are done on the web are google searches. and the government says, wait a minute, it's not illegal to have a monopoly. but when you use that monopoly, you leverage it to get an even bigger share and lock in your monopoly, that's no good. so one thing that google does, they pay billions of dollars to companies like apple, companies like mozilla and samsung, so when you search, the default will be a google search. and the government says, wait a minute, that's not fair. it's okay to have a lot of people who want to search there, but when people go to these other places, they start off with an iphone, they shouldn't automatically have apple -- i'm sorry, googl

challenging google and apple, interesting. absolutely sally. amount of backlash here in india, particularly from app developers and start—ups who have been rallying against the 30% commission that are basically charges for in—house app purchases. the start—ups are saying that is prohibitively expensive, that google has basically been misusing its monopoly and that this has been a stifling their growth so perhaps it was a right time for india to basically go ahead and launch an alternative. all of this comes in at a time when google has been facing off with ali barber backed btm which is india's largest commerce mobile platform which was banned recently from the google play store but reinstated after following some guideline limitations. btm itself has gone ahead and launched its own mini app store and the battle is heating up. google has taken a step back because it says it will be deferring the charges it levies on in app purchases for the next six months. it will be engaging in conversations with its stakeholders to try and listen to some of

you have google paying apple.ink it helps clarify something argued in my book, which is we are dealing with something akin to mafia power where you have a handful of big companies that theoretically compete, but there also supporting each other in a growing their power and they are effectively competing against democracy. it is an alternate form of governance. here you have apple getting rich off of google maintaining its monopoly. what i think this points to is the importance of people understanding that this suit only is the beginning and has to only be the beginning. the antitrust subcommittee, cicilline's investigations, was absolutely revelatory. this was a house committee with five staffers going up against these four big tech firms. we learned about behavior on amazon's part, the way apple operates. we have enforcers who have been sitting on the sidelines for decades kind of acting as if there's something magical about tech -- i think in two ways. one, there's something magical about tech that if we enforce

industry for different reasons democrats are focusing on anti-competitive behavior, they will accuse apple, google, facebook and amazon of things like making killer acquisitions that snuff out competitors, stealing other companies' intellectual property and erecting barriers to maintain their own market power the solution democrats say is to wre break them up and ban big merge mergers. the gop is focusing its criticism on censorship and bias and solution to that, president donald trump tweeted it this afternoon when he said simply "repeel section 230. so, kelly, i expect that we will see some of these divisions start to play out once democrats officially release the results of their investigation back over to you >> all right ylan, we appreciate it thank you. dom. >> speaking of big tech, kelly, shares of apple, amazon, microsoft, facebook, alphabet, they're all still down more than 10% from their recent 52-week highs, as investors have pulled back from that high flying group of mega cap stocks there's one name in our sector that our guest says will be most at risk of regulation as we approach thi

we're waiting for apple to report figures. alphabet google's parent company had big numbers. fter-hours trading is just about flat, like running up like the rest of the tech stocks during the session. our panel with, erin, gary b., scott, are with us. we'll get to susan li as soon as the figures cross. lance was talking about a little bit, or was talking a little bit before the break, guys, what he was looking for services. obviously the iphone, maybe we look next quarter rather than this quarter because the 12 is just out. scott, what in terms of that you would look for with apple here? >> something we may not get but something i think it is important to think about buying apple's stock as we have been, something speaks to what gary b. and lance talked about at the show. apple search is basically on the forefront of what we're going to see with apple going forward in 2021. they will take, took a guy from google three years ago, developing what they thought would be a.i. and siri stuff. but in reality they built out apple search. they didn't update the latest ios that changed

accusedsubcommittee has amazon, apple, google and facebook of being monopolies.nies are ready to fight. tom: in this pandemic, we have been worried about the plants behind people. who has the best book collection? francine, i will give the award, worldwide, to lorenzo. we were dazzled by his library during his interview. messages, veryny impressive. [laughter] look.s a [laughter] earlier to the chairman. we talked dividends, banking sector. we started talking about stimulus from government. europe, in the u.s. and more stimulus needed, fiscal side. europe is discussing recovery fund. next generation eu, it is called. the agreement is not have finalized. markets will start to worry. monetary policy may need to do more in terms of convincing markets everything needed will be done to avoid a depression/deflation. inflation rates in europe are negative. this is worrying. it is the anchoring expectation and the risk of entering a vicious circle, rising again. the discussion is again, does economic policy need to do more than what has been done so far? francine: is the

tune in to spotify, apple, google, wherever you get your podcasts. please listen to it.k. i'm on twitter ,@lizclaman. so you're a small business, or a big one. you were thriving, but then... oh. ah. okay. plan, pivot. how do you bounce back? you don't, you bounce forward, with serious and reliable internet. powered by the largest gig speed network in america. but is it secure? sure it's secure. and even if the power goes down, your connection doesn't. so how do i do this? you don't do this. we do this, together. bounce forward, with comcast business. and if we win, we get to tell you and doug. how liberty mutual customizes car insurance so you only pay for what you need. isn't that what you just did? service! ♪ stand back, i'm gonna show ya ♪ ♪ how doug and limu roll, ya ♪ ♪ you know you got to live it ♪ ♪ if you wanna wi... [ music stops ] time out! only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ liz: facebook and twitter in the crosshairs as the election nears. one social media app has gone relatively unnoticed over the past week or two. after havin

google all seeing people or companies like apple which is another giant of course i mean that is quite something with google saying about all that. well google is obviously defending itself they say that customers want to use google that they really have other options and that it's just really up to customers to be using it it also is a difficult legal case for the u.s. government because usually in a case like this you have to prove that a customer has been harmed that they're getting price gougers and a lot of these services are free so it is quite difficult and if google loses this battle which i'm sure will go on for quite some time what does that mean for the company. it could really mean and for idea of different things the worst case scenario is that the government which forced to go to break up or to sell off parts of its business they could also be forced to stop doing these exclusive contracts with other companies we've seen this already play out a bit in europe europe has already brought 3 anti-trust cases against google and find them about $9000000000.00 but it hasn't reall

apple, amazon, google, facebook. a jam-packed one-hour data dump between 4 and 5 p.m. eastern. they usually spread these over a few days, but this time around it's all coming at you at once. there is a lot at stalk. these are the most -- at stalk. these are the most widely held stocks in the world. almost everyone with money in the market has a piece of this action, and you've done remarkably well. here's a word of caution though. all these four stocks are well off their highs. they've come down from the levels that they hit just a few months ago. they had a terrific run that went on for years but, question, is it now over? i don't know. i can't answer that question. a lot of tv pundits have egg on their face because they missed the trump rally. i'm not going to forecast big tech or the market, but you can't ignore the importance of the reports we're going to see tonight. apple, amazon, google, facebook, along with microsoft which reported two days ago, they represent our future technology-dominated economy. we've pu

word about e uncertainty, that the cfo of apple used as well. google and do you expect google to be impacted by some of the upcoming changes, the macroeconomic environment. the fact that we're still in a pandemic and worldwide? >> i look at it sort of as three things. is what's the status of the secular trend moving, you know, from traditional media to, digital? online which is just really crossed point.lfway only last year. so there is a lot of room to google a trend that is the beneficiary of. that's the primary sort of driver of growth. macroeconomic issue, the situation, i think, if we have another -- it looks the beginnings potentially of another sort of outbreak, another sort of pandemic, and we have to lock down again and then there is another that's going to obviously hurt discretionary spending and hurt abroad but it will probably do again what it just did, which is trend.rate that so, you know, although it may hurt, i think the likes guys andcial media google, actually benefit from this because it really traditional -- the competitors on the

campuses,ave major apple, google, they are not going to go anywhere.y are going to stay in their campuses and operate as they do. or places they can recruit people and i think they will find a way. it is hard to create culture when you work from your bedroom or your kitchen table. that is an issue people have to come to. vonnie: that has been the mantra, but if you give us the benefit of your wisdom, is the consensus that the urban center will still be the place where millennials and so on will want to go eventually? or, have the suburbs taken over? >> i think it is a combination. over the last number of years, we have focused on ecosystems around our campus. we have chosen major life science clusters to do that. tech is different. text, they generally do not want to work in the same building. do not want to work adjacent to each other, different companies. thoseason is because workers, everybody is trying to steal everybody else us engineers. the life science industry has historically clustered and been in tate ecosystems. tech has been different. it

had a meeting in 2018 where they talked about how apple could be a part of this and google essentially according to this lawsuit spends $11000000000.00 a year protecting their ability to be the default search in apple whenever you use an apple device and that includes when you asked syria question it runs through google not through any other search provider so apple could be a huge part of this obviously what sort of a challenges are they going to face going into this yeah i think they're going to face some challenges and one of those is the fact that again this this whole thing is built upon the idea of anti-competitive practices right and the collusion between major tech companies to basically block out and box out competitor smaller competitors and so by google asking to do this and by apple agreeing to do this apple yeah they're taking in $11000000000.00 a year which makes up about 20 percent of all of apple's profits for the year so 20 percent. their profits come from being paid off by google to make sure that no one else through to the search has the ability to be able to compete

sense to create the conditions that would give birth to the european equivalent of a facebook google or apple why don't we have the equivalent of those companies and could regulation be getting in the. i think we we failed 201020 years ago in providing a real digital single market because one of the reasons why the giants are giants today and that also goes to the chinese chimes was that they had a single market they had a giant home market while they could grow the strengths to become global companies and this is why one side of things is of course for society to catch up with the digital development but the 2nd thing is to provide a real digital single market also for european businesses to grow and to provide a capital market with sort of more risk taking france's venture capital that comes with capital but also with knowledge about how to how to scale up this company but we need to provide businesses with the market and with the capital needed we've learned to also recognise as the public how difficult it actually is to regulate very big companies to try and prevent monopolies how would y

it finds that amazon, google, facebook, and apple have ebb gauged in anti-competitive behavior that isology marketplace into a monopoly specifically, it accuses the companies of pursuing killer acquisition that's snuff out competitors, hiking fees, misappropriating third party data, stealing other company's property, and erecting barriers to entry to maintain positions of power no you this all comes from a document that was written by gop congressman ken buck and obtained by cnbc.com and buck finds that while he does agree with some of the results of the investigation, lawmakers are split on the remedy much his report says democrats plan to institute a glass steigle for tech to define a clear single line of business. the report also says that democrats plan to draw bright lines that ban mergers at a 40% stake of the seller and a 25% stake for the buyer. and presumes that any vertical merger by a dominant platform is unlawful now there are some areas of bipartisan agreement on things like more resources for the regulators at the ftc and doj and on establishing rules for data portability

recommending several ways for congress to rework antitrust laws that might apply to the likes of amazon, apple, googlebook potential changes could have major implications in how they do business and their massive influence on the market. joini ing us now is jason ware oig. neither of us is antitrust attorneys as far as i'm aware. that said, from an investment perspective, this keeind of pope up out of nowhere. as an envirgin islaninvestor, du think any investments in these vows >> good morning, good to be with you. so we're always rethinking and re-evaluating the investments. we've owned these large technology companies for many years and have done quite well in them. but the landscape is always changing both from a technology and competitive landscape point of view as well as from a regulatory one yes, the report was 449 pages of various recommendations from the house sub committee on how to, you know -- their view, really their big takeaways is that there is monopolistic forces at play here for each of the four companies and they have recommendations on how t address that probably doesn't changes in

the three other times this has happened, apple, microsoft, amazon, google, it has been a down week each what we know is that the market itself is so dependent on tech and-or growth. look at the first bullet point basically when tech is down, the s & p itself is down 80% of the time the second bullet point. when the growth index -- now we pick up amazon and google and facebook when the s&p growth index is down, the tech sector is down 93% of the time. take a look at the chart it peaked on september 2 it's the area that broke the hardest dropping almost 15% versus the s&p down only 10, 10 1/2 ever since then its relative performance has been quite poor. so the question is are these names, having been so ahead of the market for so long and having stalled on a relative basis and reporting in the same week, is it a time to be cautious on these large names. the thinking is yes. >> so given that, mike, what is the trade? >> this is an interesting situation as carter pointed out. the biggest stocks represent nearing half of the qq dwurch -- qqq. to get to that you would have to have tesla the s

if you going to safari, google have a deal with apple or google searches are preinstalled.r essentially, and it's going to conclude the anti—competitive practices of had a harmful effects on people. google says look, how can this possibly be anti—consumer when the google search is free and you don't have to pay to use it? i think this is going be very difficult for them. because they're going to have to prove that there anti—consumer without acknowledging that it is free for consumers. is a break-up for consumers. is a break-up for google, given the word monopoly, is it a break up, is a possible? they have not said that they're going to break up google, but i think it's really interesting that three weeks ago, there was a congressional hearing on trust those democrat lead and some of things they we re lead and some of things they were saying for suggesting that google should be broken up and one of the things as may not be pa rt one of the things as may not be part of google and the also said that facebook had an unassailable lead in that apple was the gatekeeper to the app

that's something i would keep my eye on, so the microsoft, apple, google, amazon, acted poorly to the down side. amazon down 2%, approaching the up trends from their march lows. so keep an eye on that when september -- when we topped out on september 2nd, and things started going to the down side, it was those names that led in a meaningful way those are the two areas i'm particularly focused on. >> dan, do you think big cap, that's catching on in the -- that they're selling off, because this year pay the capital gains tax -- part of this could be, you know -- i don't want to calm call it gaming the system, but taking advantage of what you know is the tax code >> no doubt about it, but mel, i say that that's what's going on. it could be a source of funds. there's such a large proportion of the s&p 500, the nasdaq 100, but then look at zoom today, it was up 4% at all-time highs, up 20% in just a week so you say to yourself, well, that would be a good one to take in capital gains taxes, so it just seems to me there's pockets where there's indiscriminate buys, and then there's pockets wh

they come actually not from the app itself, but from the underlying apple—google framework which powersd. now there's an update which sort of deals with it. you get the first message, but then you get another one saying covid—19 exposure check complete. don't worry, we've assessed your risk and there's no need to take action at this time. well, the app team is working on further developments which should deal with the problem eventually, but that will need a change in the whole google—apple framework, which is apparently coming soon. to washington now. president donald trump's choice for the next supreme courtjudge has been facing questions from senators. this is the senatejudiciary committee right now. senator amy klobuchar asking about the supreme court and postal voting. yesterday three donald trump appointed judges came in and reverse that sin and to one ballot box for people to drop their balance off an accounting of 4.6 million people. in tennessee, republicans have tried to prevent drop boxes for balance and we know because we have had the secretary of state as one of our witness

of the market in fact, i emphatically think it does no the have to be contagious i look at the apples, googles, microsoft, all three of what i own and i say in this interest rate environment and the secular growth they've got, they are perfectly fine at that valuation and those are the ones that are going to matter more than this relatively small subset of stocks that are very bubblicious. >> josh? >> i opened my comments today by saying fastly is not important it's not an important stock. it's not even in the s&p 500 the point that i'm trying to make, which maybe i didn't make it well -- >> i thought you did make it well >> okay. you look at these things as a -- thank you -- as a gauge on sentiment and as a gaej speciug specifically on the sentiment of the new investors that's come into this market in the last six months and individually they're not big portfolios, they're not institutions, but in the aggregate, they are a driving force behind multiple expansion across the entire market they're most of the options activity, we know this empirically. it's an important contingent of investors t

plus some of america's biggest companies, tech giants like amazon, apple, google's parent company, alphabetmicrosoft, facebook, all going to report quarterly earnings this week. sales are down from last quarter but we are hoping things will pick up by q3. yeah...uh... boss: doug? sorry about that. umm...what...its...um... boss: you alright? [sigh] [ding] never settle with power e*trade. it has powerful, easy-to-use tools to help you find opportunities, 24/7 support when you need answers plus some of the lowest options and futures contract prices around. don't get mad. get e*trade and start trading today. at university of phoenix, relevant life experience and eligible transfer credits can help you earn your degree faster and for less. see how much you can save at phoenix.edu. that will change me forever. yes. ♪ start your someday today with twenty to forty percent off all bridal. scott wiener immediately went to work, making sure families could put food on their tables, defending renters facing eviction, securing unemployment benefits, helping neighborhood businesses survive. scott wiener wi

been better if they had taken this actions makes or seven months ago when other companies like apple and googlen them, but later late than never. the thing that concerns me -- they're well organized and they believe in violence. they talk about this thing called the storm. the storm is coming. it's this moment that they believe that after the election, donald trump is going to crack down on all of these members of the media and prominent democrats who they think are running this child sex cabal. they will see any evidence, even a delay in the results, as assigned that the media and the democrats are trying to steal this election. as a result of that, they will take up action. the second thing you have seen is there have been at least over 1000 instances, most of those taking place in former communities that have camouflaged themselves for people to become poll wa tchers, to make sure that the votes are counted correctly. that is not a good sign for us. if you have people that are able to say i was a poll watchers and saw some local officials tipping the scales against donald trump, that can fer

we heard from a subcommittee, suggesting that apple, google, facebook, that they are essentially monopolies and they are too big and the government may need to step in. they feel it's not just about information, but also about commerce. eric: mark, thanks. arthel: now we're going to go to claudia cowen in california with the latest response from those big tech companies. claudia. >> reporter: arthel, as you might imagine, the big tech companies in cal california are unapologetic, saying it's their company, they can make their own rules, especially when it comes to what their employees are posting on social media. twitter says employees can post what they want and if the message is anti-trump, so be it. here's this from twitter's chief human resources officer, jennifer kristie. in a statement to the new york post she says, quote, we do not hire based on political beliefs and eat completely support our employees' rights to express themselves and support the causes they care about. our employees are professionals and we require them to bring objectivity to their work regardless of personal vie

with back to back earnings from big tech, apple, amazon, google, facebook all reporting a beat, but appleetreats on week iphone sales in china sales -- weak iphone sales and china sales. the cloud unit also a concern for investors. ed ludlow on the phone in san francisco. sales in china for only 29%. what did tim cook have to say? the region china was most heavily impacted by the absence of new iphones in the september quarter. still, we beat our internal expectations in the region, growing non-iphone revenue strong, double digits. and iphone customer demand grew through mid-september. ed, tim cook trying to put a positive spin on things. how does the report card look for apple? >> when it comes to china, they say consumers are in a holding pattern, waiting for the latest generation of iphones, the 5g-generation of iphones. 5g networks are much more built out in china. this launch of the iphone 12 was delayed. it doesn't usually come this late in the year and this close to apple reporting earnings. but beyond that, the story for apple is other parts of its business growing quite significa

. >>> here come the tech giants, apple, google, facebook all set to report after the bell investors have big expectations aztec took the lead and became the foundation for this market rally. we'll look at what to expect with facebook up more than 5% and apple up 4% this afternoon as business moves forward, we're all changing the way things get done. like how we redefine collaboration... how we come up with new ways to serve our customers... and deliver our products. but no matter how things change, one thing never will... you can rely on the people and the network of at&t... to help keep your business connected. >>> welcome back apple, the $2 trillion tech giant is out with earnings after the bell today and its shares are up 4% ahead of the report. the earnings is one of the most important of the season. the stock is in the dow, the s&p and the nasdaq josh lipton joins me with what investors are hoping to hear. >> even after yesterday's selloff, apple has enjoyed a strong run here. rallying more than 110% now off its march low. we should note, off about 15% from its most recent high in e

options that take part obviously on ebay, but far more, the options and the information flow led by apple, google, and the rest. what would you presume to be the future for how we bid each day within technology? robert: i think if you take those kinds of auctions as examples, what you see is they are mostly automated. these are done minute by minute or second by second, and they bots, orwith bidding algorithmic methods. so there is a continuous reallocation of resources. i think you are going to see a lot more of that in many fields. tom: robert wilson, thank you so much for joining us. the nobel prize winner with well.sor paul milgrom as jonathan: just to call a $1.1 million prize this year and upgrade from the year before, we can see how we put that money to work with dean curnutt. we were talking about the volatility term structure just before turning to him. it has been faded, volatility in the back half of this year, over the last couple of weeks. how do you fade volatility now? dean: one of the things we should contemplate in terms of volatility is, like any market, it is an outcome of supp

spotlight to the cio, ci financial company, ralph, let's start with the big names, we know apple, amazon, googlefacebook, any of these names, buying, selling, holding, what would you do with these names specifically? >> apple, amazon, google, facebook we've owned those for a very long time and we viewed big tips like this in the past to buy, were using it today to buy, some of the new names like zoom down 18%, we like that name a lot, these are the long-term growers in a market like this you have to decide are you a traitor or an investor, every looking to trade over the next week or two weeks i don't know what's going to happen but if you're a long-term investor and you don't own these types of companies, those of the named after put into your portfolio in these pullbacks. >> i completely agree, looking at opportunities, longer-term, these continue to have tailwinds to their growth, their earnings, the revenue, apple in particular down over 6% right now, down 20% plus from its peak, not that long ago, this is a good company that throws off a lot of cash, those are the types of companies that i

apple. we are going to get into the nitty-gritty in a second. i just went to get your perspective as an investor. do the likes of google, amazon, apple, do they hurt innovation? do they hurt smaller companies from becoming the next apple or google? alan: it is inevitable that they hurt. when you have a company like amazon that has 70% of the online marketplace, and google has 90% of the search business, that to me is the definition of monopoly. it is no different than your electric utility companies or the telephone company. you have no choice. inevitably, it has got to affect smaller companies. meetings thanore i can remember when one of the first ceo would open with is google changed the algorithm last week and we lost 20 for percent of arch -- 20% of our traffic. when you are that vulnerable to a company, you know there is a competitive edge and makes it difficult. in spite of that, certainly there are lots of small companies that emerge in technology. but to go into these areas where these giants are, and the giants are only getting to be bigger every day they are in business, there's got to be a concern of everybo

apparently come up with a hit list of about 20 large tech ,ompanies including facebook amazon, apple, and google eu regulators have their way, the companies would have to share data with rivals and be more transparent. another item on the eu agenda is of course brexit. eu continuing negotiations to reach a trade deal. announcements not only for parliament but then to the nation by the prime minister. it seems that the pound has given up on caring about this at the moment, more focused on the u.s. election, may be the optimistic side, this eu summit that boris johnson wanted some sort of deal by, it is not really matter. joe: you mean to tell me that there is this deadline, key date coming up for brexit, but that it may not be the key date? i find that hard to believe. caroline: fish are important. romaine: about three quarters of the world agrees with you. caroline: we are going to shift gears. some important breaking news about 4:15. disney announcing it will do a strategic reorientation of its entertainment businesses. let's look at the market reaction with what is happening to disney share pr