spied on people by harvesting the dots are sometimes stealing daughter from the tech giants google apple facebook and microsoft and the like they also they tapped into fiber optic cables to intercept dots on the internet on the worldwide web and they spied on more than 100 world leaders including german chancellor angela merkel by tapping her phone and now this program started back in the bush administration but it was exposed in 2013 by edward snowden he then worked at the n.s.a. at the time before that top and people in america had said that they that they did not collect data from americans after this was revealed they then said that the the are they argue that the spying was crucial in fighting terrorism now one case that has been held up as evidence is the case about 4 somalians who were convicted. of aiding a terrorist groups in somalia now this court ruling in in an appeals court to do with this case they found that the n.s.a. program was not relevant in the conviction of those 4 somalians so there is no evidence that this program ever stopped terrorism so what has the reaction been to thi

making the mission of cisa so appealing that cisa can compete for talent with the likes of google, apple, facebook, and win. we know we can't compete when it comes to what we can pay some of the most talented cyber warriors out there, but we can compete on mission. indeed, that's one of the things that the general told us about the nsa. while he worries about retention he can always compete on mission. by giving cisa that elevated mission, the appealing mission, we believe we can sort of solve the human element endemic to every cyber igs. because at the end of the day while discussions about cyber can get technical and devolve into jargon, these are fundamentally human problems. my understanding at least of the twitter hack this week was that they fooled a human being into providing administrative credentials that resulted in the attack. so our greatest failures have been human failures. our greatest successes will be human successes. empowering cisa, giving the director a higher level of authority and a longer term is one step towards that sort of human solution to human problems in cyber. >> tha

david: some people say googles of the world, google, facebook, microsoft, apple, amazon, are too powerful. that it is not healthy. your ceo testified. what is your response to the view that the technology companies are becoming so dominant it is not healthy? ruth: we are very mindful of the fact that with the scale of these companies comes scrutiny and it is incumbent on us to engage with regulators and help them understand what it is we are doing that is of benefit, how are we providing better services at lower cost, which is really indicative of the competitive nature of the world in which we operate. we have intense competition in competitorss., outside the u.s., and many companies and individuals would not be able to operate the way they did without support and benefit from technology. it is a fair question and we are engaged constructively here and around the globe with regulators. david: you have more than $100 billion in cash on your balance sheet, which is a lot of cash. why do you need all that cash? one dividend it out or are you going to use it for investments? ruth: at the end

david: some people say that the googles of the world, google, facebook, microsoft, apple, amazon -- are powerful. that they have so much power in our economy that it is not healthy. you have been at congressional hearings recently where your ceo testified. what is your response to the view that the technology companies are becoming so dominant in our economy that it is not healthy? ruth: we are very mindful of the fact that with the scale of this company comes scrutiny, and it is incumbent upon us to engage with regulators and help them understand what is it we are doing that is of benefit, how are we providing better services at lower cost, which is really indicative of the competitive nature of the world in which we operate. we have got intense competition within the u.s., intense competitors outside the u.s., and i think this covid experience, many companies and individuals would not have been able to operate the way they did without the support and benefit from technology. but it's a fair question and we are engaged constructively here and around the globe with regulators on it. dav

. >> so some people say that the googles of the world, google, facebook, microsoft, apple, amazon areoo powerful. they have so much power in our economy that it's not healthy. and there's been a congressional hearings recently with your c.e.o. testified. what is your response to the view that the technology companies are becoming so dominant in our economy that's it's not healthy. >> we are mindful of the fact that with the scale of these companies comes scrutiny and it's incumbent upon us to engage with regulators and show them what we're doing and how we're providing services at lower costs which is indicative of the competitive nature of the world in which we operate. we've got intense competitors in the u.s. and outside of the u.s. i think this covid experience, many companies and individuals would not have been able to operate the way they did without the support and benefit from technology. but it's a fair question. and we're engaged constructively here and around the globe with regular or thes on it. >> you have more than $100 billion of cash on your balance sheet, which is a l

the last hearing they had, amazon, of apple, google, and facebook were questioned by members of congressnder if you tuned into that and had any thought? >> i thought it was interesting. i think it is great to see congressional investigations law enforcement investigations are happening because they can play different roles and purposes. i just said, law enforcement investigations -- we cannot talk about what is happening, they do not -- they're not particularly transparent. that is for good reason and i understand that. i think it is also understood -- important for the public to understand what is happening in these cases and for companies to be accountable to the public just as they are to law-enforcement. the hearing served at goal goal really-- that well and i was impressed by their ability to pull that off the middle of a pandemic with everybody scattered everywhere and everything on congress's plate. had ant a week ago, you interesting post on twitter about using antitrust to promote racial equity. talk about your thoughts on that and how would that work in your view? >> the reason

heavy nasdaq closed up about two point 7% its major components including apple google facebook amazon and tesla. had lost a combined trillion dollars in market value in the last three sessions all of them ended higher this wednesday. shares of tiffany had dropped as much as 10% they closed down six. all of image closed flat in paris. major european indices also rebounded after their sell off earlier this week- the london footsie one hundred and calculus in paris each getting about forty one point four percent. shares in frankfort in milan for closer to two. the british pound meanwhile dropped to a six week low against both the euro and the dollar amid renewed brexit uncertainty. moving on some of the day's other business headlines now. united airlines says it's reached a preliminary deal with pilots unions that would reduce the number of layoffs in the coming mononths. the carrier had planned to cut or furlough some sixteen thousand employeeses. this deal could save some three thousand jobs. other us carriers arere also plannnning major cuts starting in october. when the terms of thei

in the united states popping on the back of the tech and financial sectors in tech amazon apple google facebook and microsoft all had significant gains throughout the day while big banks like j.p. morgan chase bank of america wells fargo citigroup goldman sachs and morgan stanley all jumped 2 percent or more throughout the day so let's go ahead and take a look at the state of markets with michelle snyder she is the director of trading education and research at market gauge dot com michelle thank you so much for being here i want to start with the company posted a loss of $1800000000.00 in the latest quarter due to the pandemic forcing people to move around last staying at home now that coupled with the issues that they've had in london and in california has been cause for concern for the company especially as they move to actually turn a profit for the 1st time but their stock right to does you should. today on this news what are your thoughts on as of now. well 1st of all if i look back at it from the end of august early september it already went into what we call a bullish phase in that it wa

amazon, apple, facebook, google, you name it, the usual suspects.: joining us now is bloomberg opinion columnist. thank you for joining us. the value people have a winning streak that lasts longer than 10 minutes? >> i wish i knew the answer to that question. value investors are long-suffering now, going on by my count to 2006 if you look at the russell 1000 growth over the value growth. so the question is, when will value come back? i think investors are thinking about this. have to be really clear about a couple of things, especially in this environment where there are so many narratives flying around. one is we have to agree that historical evidence tells us value in general beats growth over rolling 10 year periods going back 100 years close to 90% of the time. the second thing we have to be clear about is no one knows when this outperformance is going to happen. in recent years, we have had three cycles. the nine-year growth one and then the off value one and then growth is winning again. it seems as if it comes and goes. when valuable, again,

and, you know, these are the stocks, google, apple, amazon, facebook, these are all stocks that are poweringyeah. >> there's a regulatory onslaught, if there's more scrutiny of them, you know, they're going to take a hit, and that's going to impact -- liz: great point. >> i think some of that you're seeing right now. google is big because i don't know exactly where that case is going to be. if it's far-reaching, it could really impact the stock. as you know, google is a widely-held stock. liz: well, we do have amazon now below 3,000. i do want to just -- can we bring up apple as well? thank you so much, charlie. we really appreciate it. it bring up apple because at $106.90 a share, again, that's post-split, of course, we now have the market cap at $1.8 trillion. so below $2 trillion at the moment. and we do have this pretty significant selloff here. s&p down 349. we have the dow down 565. i will give a quick look at the vix. this is the fear index. so this usually goes up when we have a major selloff, up 9.5%. it had been up 8% when teddy weisberg referenced it. but you can see the s&p 500 p

. >> the last hearing they had, the ceos of apple, amazon, google, and facebook were questioned by membersf congress. i wonder if you tuned into that and had any thought? comm. slaughter: i thought it was interesting. i think it is great to see congressional investigations running even as law enforcement investigations are happening because they can play different roles and purposes. i just said, law enforcement investigations -- we cannot talk about what is happening, they do not -- they're not particularly transparent. that is for good reason and i understand that. i think it is also understood -- important for the public to understand what is happening in these cases and for companies to be accountable to the public just as they are to law-enforcement. the hearing served at goal really well -- that goal really well and i was impressed by their ability to pull that off the middle of a pandemic with everybody scattered everywhere and everything on congress's plate. >> about a week ago, you had an interesting post on twitter about using antitrust to promote racial equity. can you talk abou

has the move towards streaming, the engagement of platforms like apple, google, and facebook in deliveringhow does that change things? i don't know at this point one of the reasons that people like unity is that it is positioned to prosper irrespective of who wins for me what i find fascinating is what john is doing on this ipo is if it succeeds, and it sure looks like it will, it will really change how ceos look at the ipo process. >> i want to go back for a moment we want to talk more about the ipo process. what about where the value is for investors right now. what you said about the value traditionally had been in the game, isn't that a little like saying the value had traditionally been in the block buster movie but boy, wouldn't you rather own adobe right now that has the tools to make the movie, because more than any individual movie studio, the value has gone in the past ten years >> you asked where the leverage was. this is like going to a roulette table. there is more leverage there but it is a very high risk strategy these diversified played, i think, are really good in this cyc

you know, this is one of the reasons why google, apple, facebook, twitter, that's why they're down sot of legislation and restrictions. >>> meanwhile, the overall markets are going to be down again, off 150 on the dow, 130 on the nasdaq. the opening bell moments away. we'll be back. ♪ ♪ (♪ ) keeping your oysters growing while keeping your business growing has you swamped. (♪ ) you need to hire i need indeed indeed you do. the moment you sponsor a job on indeed you get a shortlist of quality candidates from a resume data base so you can start hiring right away. claim your seventy-five-dollar credit when you post your first job at indeed.com/promo when i came to the u.s., my family was really poor.d. now, i've got fifty employees. when the pandemic hit, i was really scared about losing my business. but osmar, my financial advisor from northwestern mutual, he told me, brother we got your back. his financial planning helped to save my business. if i could talk to my younger self, i would say, you're going to be proud of yourself. ♪ ♪ stuart: three minutes before we start trading this thur

the mega caps, apple, google, tesla, facebooks, down 6%, the worst day since march.g power as we were talking about before, less having to do with fundamentals, nothing changed overnight. we had a jittery morning and then the bulls charged forward. it was the best day in two months. the bears were entering yesterday's bullish call against the backdrop of payrolls tomorrow. there could be some anticipation around that, considering adp was a little bit disappointing. too far, too fast, so you are seeing some consolidation of the parabolic uptrend. david: we do have one very important influential market analyst who came up with his explanation today, saying the problem is the polls. president trump says the problem is a fox news poll that says he was not gaining on vice president biden. do you hear anything about how the markets are reflecting what is going on? the only thing i heard about was volatility. abigail: volatility will be creeping up. i don't know if i agree with pollsent trump that the are the source of today's volatility. the vix suggesting that we will see

a public currency to recruit and retain the best and brightest engineers to compete with google, facebook, applethe other amazing talent out there. palantir did not raise any money, they did not sell any shares. it was really done as an accommodation to their employees because they are incredibly talented, focused, and motivated who have accomplished tremendous amount in their software. emily: what about investors? also, employees are investors, basically, in the company. isn't the goal to have a good exit? eric: it was a good exit. they came out at $10 a share, wh ich is a stencil nice liquid at the event. i believe the mystery of the company remains, and that as people become more familiar with the company, the products, the services, the value ad that their software provides people, their operating system and their ability since they have shifted from a consultancy kind of custom approach to the sass approach using the apollo platform now, gives them tremendous flexibility and the ability to implement software across an enterprise in a matter of hours instead of quarters or months or weeks. n

probe was the last thing they had in which the ceos of the four big tech companies, apple, amazon, google and facebook all attended the hearing and were questioned by members of congress. i wondered if you tuned into that and if you have any thought? >> guest: i did tune into. i thought it was really, really interesting. i think it's great to see congressional investigations rhyming even as law enforcement investigations are happening because they can play different roles and serve different purposes. as unit and as i've just said a law enforcement investigations are nonpublic. we can talk about what's happening. they don't tend to be transparent, and that is a good reason and i understand that. but i think it's also important for the public to understand what's happening in some of these cases and for companies to be accountable to the public just as there are accountable to law enforcement. i think the hearings serve that goal really, really well, and i was very impressed at their ability to pull that off in the middle of the pandemic with everybody scattered everywhere and with all of the many, man

by harvesting their daughters sometimes stealing dasa from the big take joins from google facebook microsoft and apple they tap fiber up to 5 fiber optic cables they spied on more than $100.00 world leaders including the german chancellor angela merkel not just goes back to the bush administration but of course it continued through the obama administration as well ok so there's about ground and so relate this to today's court ruling yes of course all of this was revealed in 2013 by edward snowden when he exposed its top intelligence people in the u.s. up until then had said that they did not collect any information on americans off the words they argued that the spying was necessary to prevent terrorist attacks and one case that was always or was brought up was. to show that the. to use as evidence that the spying had indeed helped was a case of 4 somalians were convicted of aiding a terrorist group now this latest court ruling by a an appeals court in the u.s. has found that the evidence collected by the n.s.a. through this program was not relevant to the conviction and so there is no known evidence

facebook, google, apple, they are marching on as nothing has happened it's parade of corporate cash flows literally trampling on people who don't seem to matter anymore. i hate that's the case that's why we have to look a t this in a nuanced way. >> may i add to this >> sure. >> there's so parts of the economy that are feeling deep effects that have not shown up in the economic or profit statistics specifically, i'm talking about municipalities which have in large cases been decimated whether it's tax revenue, whether it's fair box revenue these are major employees that have kept their employees on that also spend on capex that needs support what will be in trouble is commercial real estate we're talking about the benefits of work from home whether we see it in zoom or amazon or apple. ultimately and this is years down the line but ultimately leases come due for renewal. there's no way in the current environment they will be reknewreknew -- renewed at the same rate >> josh, i spent the summer in new york and the people out there, i couldn't rent a boat. it was booked. it was nothing to ta

if you look at the year to date chart which i prefer to look at, amazon, apple, facebook, google all. so itdepends on the chart that you want that's a really interesting topic. you want to talk about sentiment. and now all of a sudden a short selling research firm was the catalyst here and now we're seeing the ceo step down about 5 hours ago but at the end of the day, they do a lot of due diligence. this is one of the biggest oldest companies and one of the essential companies in the united states. and it's just going through halfway and this is a purchase that they made and took time thinking about we're only down 2% but think about the headlines. this is a pretty tough sledding. >> you can talk about rolling out something but the problem is they also rolled a truck down the hill and you thought the truck was cruising and it was actually just rolling and the only reason we bring up nikola is because it's a day trader favorite retail investors have been such a big part of this market. you have allegations of fraud, whatever might turn out to be the real story here, it it could turn p

may be instituting a new crackdown on tech giants like google facebook amazon and apple new n.h.s. rules would mean the tech giants cannot favor their own services or force users to sign up for bundles of services that crush competition now according to reuters under draft language in the agreement gate keepers such as companies with bottleneck power or strategic market status will not be allowed to use data collected on their platforms to target users unless this data is shared with rivals there's a lot to talk about here so joining us now to discuss his boom bust co-host investigative journalist ben swan and international regulatory attorney myles edwards thank you both for being here today thank you ben i want to start with you this is been an issue for some time but many of these proposed regulations from the e.u. come from come complaints made by google's actual rivals what are those complaints yeah it's kind of been a long time coming if you will so essentially the way it works is the e.u. has a system that we don't have here in the united states as part of a settlement that

those declines led by tech stock which has struggled in recent weeks, facebook, apple, amazon, netflix, googlend microsoft all posting big losses. focusing this week reports on home sales and durable goods and traders are also watching washington with some analysts saying a new stimulus bill is unlikely now until after the election as the fight over the supreme court overshadows everything else. >>> mba grads may be feeling better about their job prospects. a survey is signaling demand is returning. 90% plan to hire mbas next year. only 8% say they're pulling job offers to mba students who graduated this year although start dates for some new hires have been delayed. a majority say they will honor the salaries that were offered before the pandemic, but pay for those hired next year likely will be lower. >>> and walmart is launching a new private label clothing line for men and women. free assembly will be sold in stores and online, items priced from $9 to $45. walmart is looking to grab the market share here in apparel. many major clothing retailers were forced to close stores temporarily, fur

controlled by four to six stocks the nasdaq was up 31%, but if you took out apple, amazon, google, microsoft, tesla, facebook, next thing you know, the nasdaq would have been up 10%. so you start to look at where is the money moving to? we have talked in the past that it's going to move out of the this high-tech, high-growth arena into more stable companies that will be around for a long, long time. >> i know some of the your favorites are whirlpool, toll brothers, you can see the bend toward housing and the spending we'll circle back to samir, let me bring in your thoughts on the sell-off if the stay-at-home names are underperformening ifs reopening trade is outperforming, but you have bond yields slumping. how would you tie this all up? >> sure. we would -- i would take the other side of it as more of an interruption so, you know, it probably was long overdue when you start to do so stocks rally into stock splits, which basically shouldn't be anything other than accounting phenomenon. that always worries us a bit so, you know, did note that things might be getting frothy, but we like tech, consumer discret

is 4 percent of the mobile network market because google and facebook and amazon and apple have mobile apps right i mean and the end of the day a theory on this is a different type of application if you could not work on crypto. and it's totally unsuitable as a store of value you want to proof you want your network were committed to proof of work so if you look at some that were committed to proof of work it's because i'm declaring cash recording has to be and of course the 1st one's 50 times better than bigger than the 2nd one was you know why would you even consider going to something which is 2 percent or one percent of the size of the dominant player and it's more confusing anything else a tether puts $100000000000.00 of kether coin on the network that's not going to have any impact on the dominance of bitcoin one where the other it's transcendental thing about it is this community but i've been in this community now for almost 10 years you're the 1st actual all c.e.o. with the whole boardroom full of lawyers and board members to do a lot of due diligence and take all these conside

. >> some people say that the googles of the world, google, facebook, microsoft, apple, amazon, are toohey have so much power in our economy that it is not healthy. there's been congressional hearings where the ceo testified. what is your response to the view that the technology companies are becoming so dominant in our economy that it is not healthy? >> we are very mindful of the fact that with the scale of the company comes scrutiny and it's incumbent on us to engage with regulators and help us understand that what we are doing is a benefit. how are we providing better services at lower cost? which is really indicative of the competitive nature of the world in which we operate. intense competition within the u.s., intense competitors outside of the u.s., and you know, i think this covid experience, many companies and individuals would not have been able to operate the way that they did without the support and benefit from technology, but it is a fair question, and we are engaged constructively here and around the globe with regulators on it. >> you have more than 100 billion dollars o

we have these changes in work and more money flows to the big businesses, companies like facebook, google, applecompanies on the s&p 500 and even the russell 2000, they really need this stimulus to keep money flowing in. business and commerce have essentially stopped in a lot of ways, so that stimulus makes a big difference for those companies. and while you may not see it just on the headline of the index, because the indexes are made up so much of those big, giant tech companies, underneath a lot of people's portfolios are made up of these smaller sort of names, these other names that really do rely on the economy, and they are having a hard time. and that means a lot for people's 401(k)s, it means a lot for their savings and investment. >> and pension funds, of course, as well. >> absolutely. >> what are we looking at timelinewise? if congress doesn't do anything more, what's your sense of how long it will take us to get out of this hole? and what do people who are looking at those numbers telling you? >> well, i mean, we are seeing the ramifications already. the nasdaq and the dow and the s&

[laughter] jeff falconberry asks this, why do susan and others always say the apples, the facebooks, the googlesng technology. it's hardware plays and, you know, we have a lot of software. stuart: well, i'm guilty of charge, the facebooks of this world. i say that all the time. >> there you go. stuart: sorry about that, sir, but i'm going to keep on doing it. stephanie rodriguez writes this: hello, my 15-month-old wyatt loves watching and listening to varney. varney is his favorite on fox business. i think we've got a picture. i think we can see young wyatt -- >> oh. [laughter] stuart: you're all right. >> awww. stuart: i'm glad i captured that demographic. the viewers of the next hundred years, they're moon. [laughter] have we got time for this one? >> oh, funny. stuart: gucci overalls, $1400, complete with grass stain. we were talking about them earlier this week. should i wear those on the farm? oh, come on. anybody want to take that on? >> what's the brand that -- carhart? stuart: fess up, super, you'd never heard of carhart. >> i had no idea. susan superlauren? >> i've heard of it. stuart:

few things that has bipartisan support is reigning in the excess influence that amazon, apple, facebook and googleave. if you're amazon, do you want president trump influencing both regulations and anti-competitive efforts or do you want president biden? i would think fromvant age point they would prefer biden. >> the reason for that in part, isn't it, that president trump has no fondness for amazon because it's owner owns the washington post which has not been kind to him he's also raised the case right or wrong that by his lights amazon gets favorabletreatment from the u.s. postal service >> absolutely. if you look at the fact that amazon lost the $10 billion contract to microsoft in cloud computing, i think that's a tangible example of the cost of the president trump four more years to amazon. on the u.s. postal service, he's talked about amazon getting a sweetheart deal. it's our understanding every deal the postal service enters is profitable to the postal service. that would be a significant cost and problem for amazon and yes there's a lot of ire directed toward amazon because mr. bezos own

google, apple, microsoft, facebook, the big tech barons. a lot of big talk. they never even mentioned climate in their shopping list for congress. everyone needs to understand the two faces of corporate america. and to imagine how quickly congress would act if powerful trade associations like the chamber became actual advocates for serious climate policies or if the big interests in congress like big ad or big tech or wall street or the insurance industry actually took an interest in something more than their own special interest programs and tax benefits. what if climate had been on big tech's list of priorities? perhaps even on page 1 of 13. that change would change the game. madam president, a 16th centurial chemist by the name of paris elsis is credited with the phrase sola dosis fatin, latin for the dose makes the poison. the dose makes the poison. the idea that everything from a nerve agent to the water reneed to drink to survive can be lethal if delivered in sufficient dosage. right now in the american west had toxins in the climate wildfire smoke waft

google monopolistic? whether massive tech companies like facebook, apple, and amazon are simply too big and whether they shouldround the world. the tech stories that we have seen this week perhaps underpin the fundamental question of our age — how can we harness the progress that humanity has made for good and not bad? that was james clayton who, as he says, is our new man in san francisco, and he's online now. james, not even off the plane and we ask you to start filming. well done! what a time to move to san francisco though! it's a really strange time for two reasons. i mean, obviously, you've seen those kind of horrendous pictures of california under this huge blanket of smoke. and it's notjust california, it's pretty much the whole of western america. it is 0regon, it's washington. and then, of course, you have covid—19. covid—19 has affected the us very badly, and california is no exception, and it's really noticeable. how do you feel about being there? if you look at all of the conferences that are coming up, literally all of them are virtual. so the chances of me actually being able to get there and, y