slack is open to trading on the new york stock exchange, trading on the new york stock exchange. we have been waiting for it all morning. slack had had a reference price of some $26. it is not an ipo. it is a direct listing for slack, very different to the been seeingwe have for other silicon valley companies. 50% atover 50%, close to slack opens for the first time on the new york stock exchange. it's valuation has increased somewhat throughout all of that time. we are looking at a $60 million valuation. thatve been waiting to see for some time. looking now that it has a market cap of $19 billion. $16ad been estimated to be million for slack. it's last valuation was close to 17 -- $7 million -- $7 billion. david: i am glad that you brought up slack. we have some way to reinforce that with us now, abigail doolittle. the valuation has gone up and up and up. it looks like $19 billion. all of this relative to the direct public offering has to do with the reference price, which initially was $26. in the way the bankers got that number was looking at 2019 revenues, which are expected t

the billionaire's club gets bigger as slack becomes the latest tech start—up to join the new york stock exchangebut 20 years on, are we seeing the return of the dot—com bubble? plus, losing patience! the fed abandons its wait—and—see approach on interest rates and signals it's ready to cut them for the first time since 2008. and on the markets, that major shift from the fed boosts global stock markets and sends the dollar to a 5—month low. yields on us government bonds also tumbling. we start on wall street where yet another tech company lists its shares on the stock exchange later. it's been a huge year already for technology share sales, so much so, that some are already asking if we should be worried about another dot—com bubble like the one that burst so spectacularly in 2000. so, what's happening today? well, it's the turn of messaging app slack. when its shares start trading on the new york stock exchange, it could value the company at around $17 billion, making its founder, stewart butterfield, the newest tech billionaire. slack is a group chat app for businesses rather than consumers. it

diane king hall at the new york stock exchange. thank you, diane. >> you've got it. >>> still ahead, a long lost love. a d-day veteran reunites with the french woman he fell in love with 75 years ago. right now at kohl's... take 25% off our best active brands! save on young men's under armour tees... women's nike shorts - just $26.25... kids' nikes - only $39 dollars... and men's adidas - $56.24... plus - get kohl's cash! kohl's. seaonly abreva cany to help sget rid of it in... ...as little as 2 1/2 days when used at the first sign. abreva starts to work immediately to block the virus and protect healthy cells. announcer: support more victories for veterans, go to dav.org. >>> here's a look at today's forecast in some cities around the country. >>> it's a love story that spans a lifetime. k.t. robbins reunited with his long lost lover during a recent trip to france for the anniversary of d-day. robbins was stationed with the u.s. army in france in 1944 where he fell in love with jeannine pierson, the local french woman. the two wen

he joins us tonight from the new york stock exchange. good to see you. >> very goodd and g to be on with you, thank you. >> quick primer of options and how they work >> sure. well an option is really just an siden the call options.'l that's what diskuz. our upside bet that is the market will go higher. whether it's for apple or the s&p 500. when it's trading at a certain level, if somebody thinks that the level it goes to is up here, bill, they'll buy thep calls at that strike because if they're right, those calls can make them 50%, 100%, the returns are astronomical because the leverage bet and some of the biggest players on the street use options every day. >> you're seeing a lot now. >> i am. that gives me optimismenf prestrump and xi when they meet ieejapan. i haveshort dated call buying. again b, if the levels here and they're buying up h'se, bill, thbullish. they're also buying way up here. so in other words, there are some bets that the market will rise in the short-term over the next wk or so, 1 to 2 ter%. that's not extraordinar

work —based messaging app slack has soared by almost 50% on its new york stock exchange debut. york stock exchange debut. the jump in the stock price puts the value of the company at around 25 billion us dollars. as samira hussain explains, slack‘s debut is another unusual path, pioneered by spotify. many were watching slack's debut on the stock exchange primarily because it decided to list directly. that means it didn't have a traditional roadshow where it spoke to investors to get a sense of how much interest they would be in the shares. he didn't use banks to underwrite any potential losses, and it was the exchange itself that set the initial price for the share. the only other big company that went a similar route is the music streaming site spotify. so why is this significant? well, if slack's debut is deemed as a success, then it is entirely possible that we may see other silicon valley companies do the same. air b&b, for example, has suggested that it may also opt for a direct listing. samira hussain on the slack ipo debut in new york. in other news making headlines, app

slack making its public debut right here at the new york stock exchange via direct listing.e of $26, the software company valued north of $15 billion. could be 16 billion or 17 billion. we'll have an interview with stewart butterfiel

the billionaire‘s club gets bigger as slack becomes the latest tech start—up to join the new york stock exchange years on, are we seeing the return of the dot—com bubble? also, the fed signals it's ready to cut us interest rates for the first time in a decade, boosting global markets. good to have you with us on this thursday. a warm welcome to the programme, briefing you on all you need to know in global news, business and sport. and you can join in the conversation. today, we'd like to know if you bought into the dot—com boom at the end of the 1990s, and if so, were you badly burnt? what is your cautionary tale when it comes to investing in the stock market? get in touch — just use the hashtag #bbcthebriefing. after ten days of frantic arm twisting and cajoling their fellow mps, the four men vying to become britain's next prime ministerface a crucial day. two of them will be eliminated throughout the course of the day, with the final two announced around 6pm. on saturday there will be nationwide hustings to secure the votes of the 150 members —— 150,000 hustings to secure the votes of the 150

gerri willis on the floor of the new york stock exchange. gerri, it is going gang busters so far? : unbelievable t was a very big deal here on the floor of the new york stock exchange today. in fact the party was so big it spilled out outside of the exchange and on to the sidewalk there. i think we have pictures of the party that was going on. there take a look look at this my friends. the reference price was $26. you can see that is a big bump to over $40. as you said in the intro, a direct listing, very unusual. what is a direct listing? let's talk about it. there are no pesky investment bankers to take big fees. there is also no road shows to drum up support among investors for the deal. no offering price and you don't raise money. so if you're not in the market to raise a lot of cash with your ipo, a direct listing may be the way to go. and for small investors, this may be a great deal, according to stacy cunningham. she is the president of the new york stock exchange. here is what she had to say. >> it is excellent for small investors to have more companies come to the public

diane king hall at the new york stock exchange.nk you, diane. >> you've got it. >>> rafael na day does it again, raising the trophy after winning his 12th title in the tournament. room. and release them bae so, try febreze fabric refresher. febreze finds odors trapped in fabrics and cleans them away as it dries. use febreze every time you tidy up to keep your whole house yoelling fresh air clean. to wear another day. make febreze part of your clean routine for whole home freshness. a lot will happen in your life. wrinkles just won't. neutrogena® rapid wrinkle repair's derm-proven retinol works so fast, it takes only one week to reveal younger looking skin. neutrogena® seaonly abreva cany to help sget rid of it in... ...as little as 2 1/2 days when used at the first sign. abreva starts to work immediately to block the virus and protect healthy cells. abreva acts on it. so you can too >>> here's a look at today's forecast in some cities around e st. blues d zdenara s made it boston broke the game open with four third-period goals. th

make santoli is at the new york stock exchange tonight. >> stocks have recovered the ground they lostith the s&p 500 now 3% from the record high, and investors seemed not ready to embrace this bound rally just yet. bankf america merrill lynch said its clients sent a trickle of new cash each if the market is 4%. an indicator of investor seiment calls the free gear index remains in the fearful zone at 35 on a 0 to 100 scale and the so-called volatility index has necned in recent days as it usually does in a rising market. a sign that traders ctinue to pay up for options that give protection against the market drop over the past month. this persistent caution among investors likely has a lot to do with the confusing economic crosscurrent and the series of crucial events that could swing markets around in coming weeks and the employment report solidifiedxpectations for federal reserve rate cut in coming months and with the fed set to meet next week, plenty of thspense remains over its intentions and wheer a rate cut can support the ecomy and lift inflation should be welcome. une g-20 of w

new york city. diane king hall is at the new york stock exchange with that and more.rning, diane.>> reporter marie. oh, yeah get ready for cheat day. let's start with this first. investors will be looking at tesla today as they gear up its annual shareholder meeting. elon musk is expected to lay out the challenges facing his company. tesla's market value has declined by more than 30% last year due to a failed bid to take the company private. musk and the company was fined $20 million as part of a settlement with federal regulators. meanwhile, technology stocks helped gains on monday. the dow closed up 75 points. s&p gained 13. the nasdaq rallied 81. >>> gas prices are dropping ahead of the busy summer driving season. according to aaa, the national average price has fallen 7 cents to $2.73 per gallon, down 12 cents from a month ago and 17 cents lower than a year ago.u.s >>> today congress will hear arguments from news industry leaders who say tech giants like google and facebook have harmed the journalism business. some news publishers say online platforms have disrupt

generally across the world these two things moving us to new highs. 300 -- more than 300, the new york stock exchangerck and visa and honeywell, american express, traveler insurance stocks have been strong as well. just want to remind you what's gotten us here to the new highs, sector leaders that have been sitting at new highs so, real estate investment trusts, utilities, tech just shy of a new high, consumer staples have also been very strong, consumer discretionary also just shy of historic highs, let's not push it too much but there's a lot of laggards out there and i don't want to tell you everybody's doing great. we see the energy stocks, we're 20% below the old 52 week highs in energy, the russell 2,000 is also lagging and that's about 10% below its old highs. the dow transport similar situation, also about 10% below the highs. we've had some tough times for a number of sectors, metals and mining just got killed on the tariffs issue. they're still about 20% below. fa pharmaceuticals, they're lagging 15% or so. medicare for all, that's prevented them from really participating dramatically in th

point >> okay, mike, thanks very much for that revolve, meantime, making its debut at the new york stock exchange the online clothing retailer up more than 100% on its first day of trade new york stock exchange president stacey cunningham joins us now for an exclusiven't view stacey, great to see you thanks for joining us. >> great to see you. >> congratulations on a successful ipo today 100% plus. you must be delighted. >> i think investors are really delighted about a lot of the companies coming to market and revolve is a great example of that. when you look at the companies, especially the ones that are a little bit smaller and earlier in their life cycle, it had great performance since they've come on average across the board. tech ipos are up roughly 30% we have a few examples of companies like revolve and pager duty up 100% from where they're priced >> i'm glad you brought that up because when you see what's performed the best in the market it is these companies that are earlier on and only a couple years old versus a decade old or a decade plus. like an uber, for example. do you think this

let's look how the company which direct listed on the new york stock exchange has fared compared to, ublic. other unicorns, unprofitable unicorns. gerri willis is live on the new york stock exchange covering all of this. gerri? reporter: slack, the email keller, we expected a valuation of 15 billion. we got 26 billion. the company did well with a direct listing. what does it mean? essentially no investment banker is standing in the background standing behind the stock. it went very well indeed. pictures of the open is right here. compare that to first-day performances by other companies in the category or just big-time ipos. cloud strike. doom video which is in the enterprise software arena up 72%. that bodes well for slack's performance. that can category does so well. uber, the ride-hailing app fell 7.6% in part because it was lousy day for stocks. it helped slack that the market was on fire. s&p was setting a record. the dow finishing up 284 point right here. the only other direct listing we really have experience with here is spotify. it is first day trading 12.89% higher. very go

at the new york stock exchange.nk you. >> you got it. >>> still ahead who can resist puppy dog eyes? scientists discovered a simple eyebrow movement makes dogs irziszable. eyes? scientis scientists discovered. filled ause yours with soft surfaces that trap odors and release them back into the room. so, try febreze fabric refresher. febreze finds odors trapped in fabrics and cleans them away as it dries. use febreze every time you tidy up to keep your whole house smelling fresh air clean. fabric refresher even works for clothes you want to wear another day. make febreze part of your clean routine for whole home freshness. it opened up so dnmany doors. it's a lifelong adventure finding all of these new connections all the time. new features. greater details. richer stories. get your dna kit today at ancestry.com. what sore muscles? what with advpounding head? .. advil is... relief that's fast. strength that lasts. you'll ask... what pain? >>> here's a look at today's forecast in some cities around the country. ♪ scien

bob pasane is at the new york stock exchange. >> stocks were in full mode fuelled by high hopes of tradeks and easy money across the globe. that's what moves things these days.ar futures first high around 4:00 a.m. eastern time. european central bank president mario drahgi said there was a case to be made for more economic stimulus in europe if the economy did not improve. that sent a signalo the markets more easing could be ahead. itent the euro down against the dollar. then president donald trump tweetedut he had a very good phone conversation with chinese president xi jinping, and the two plan to meet at next g2week summit in japan. that one tweet sent the dow up 150 points in less than ten inutes with trade sensitive groups, the usual names, semiconducto stocks, mining stocks, all outperforming. the market aan taking a wai see approach as the reserve makes a move with many expecting the fed to lay the ground work ior a cut july. right now the mart isutting in an 80% chance of a cut. microsoft rallied to a all-time high and worthg notlmost a quarter of the gains we have s&p 500 have c

gerri willis has more from the new york stock exchange. gerri? reporter: first trade on the stock 38 1/2. if you will remember the reference price that the new york stock exchange made public last night, 26 bucks. they did very well indeed. you can see the pricing right here. it went on for a while. it was longer than spotify to get the thing out of the chute. what is so interesting about a direct listing handled by citadel security. this is capitalism like you never see. market-maker matching sell and buy orders. very clear thing to do. no investment bankers who add in their layer of fees. slack company becoming public. this is incredibly popular category frankly. cloud software category. a lot of companies coming public in that category have done very well indeed this year. let me tell you, zoom video, 70% gains on their first day. this company has 10 million daily active users. what is interesting about that? only 88,000 corporate users. few users are actually paying for privilege. there has to be some kind of a conversion of people to paying c

diane king hall at the new york stock exchange.k you, diane. >> you've got it. >>> still to come, joe biden behind the bar. the presidential candidate shows his support for gay rights during a stop at the historic stonewall inn. stop at the historic stonewall inn. support, chantix is proven to help you quit. with chantix, you can keep smoking at first and ease into quitting. chantix reduces the urge so when the day arrives, you'll be more ready to kiss cigarettes goodbye. when you try to quit smoking, with or without chantix, you may have nicotine withdrawal symptoms. stop chantix and get help right away if you have changes in behavior or thinking, aggression, hostility, depressed mood, suicidal thoughts or actions, seizures, new or worse heart or blood vessel problems, sleepwalking or life threatening allergic and skin reactions. decrease alcohol use. use caution driving or operating machinery. tell your doctor if you've had mental health problems. the most common side effect is nausea. quit smoking slow turkey. talk to your docto

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diane king hall has more from the new york stock exchange.. >> good morning, anne-marie. they'll meet to discuss interest rates. many say the fed will wait until next month to determine whether it will cut rates. stocks ended with modest losses friday with energy shares driving the decline. the dow lost 17 points, the s&p 500 shedd 4 points, and the nasdaq dropped 40 points. >>> this morning the airlines say they're sorry for the loss of crashes. yesterday he ceo says the company made a mistake in handling a prop problematic cockpit warning system in two deadly crashes. they say it was not consistent and that's unacceptable. the faa faulted boeing for not telling regulators for more than a year that a safety indicator in the cockpit didn't work. the faa grounded 737 max jets indefinitely. >>> target is apologizing for a glitch that stalled out checkout lines over the weekend. the outage periodically caused cash remsters to not process orders, cashiers unable to cash out people. long lines frustrating customers. they say the outage was caused

diane king hall at the new york stock exchange.ou. >> you've got it. >>> still to come, royal support for p.r.i.d.e. britain's prince william comments on how he would react if his children came out as gay. how he would react if his children came out gay. with chantix you can keep smoking at first and ease into quitting so when the day arrives, you'll be more ready to kiss cigarettes goodbye. when you try to quit smoking, with or without chantix, you may have nicotine withdrawal symptoms. stop chantix and get help right away if you have changes in behavior or thinking, aggression, hostility, depressed mood, suicidal thoughts or actions, seizures, new or worse heart or blood vessel problems, sleepwalking, or life-threatening allergic and skin reactions. decrease alcohol use. use caution driving or operating machinery. tell your doctor if you've had mental health problems. the most common side effect is nausea. talk to your doctor about chantix. eh, not enough fiber... chocolate would be good... snacking should be sweet and simple. th

die an king hall is at the new york stock exchange with that and more.d morning, diane. >> the major u.s. indexes ended mostly lower yesterday following word the federal government has opened an antitrust investigation into big tech companies. facebook sank 7.5%, google's parent company alphabet lost 6%. checking the broader masrket, te dow edged up four points, the s&p 500 fell seven points and the nasdaqab tumbled 120. >>> senior mexican officials are warning of retaliation if the trump administration imposes tariffs on its exports to the u.s. president trump says he will impose a 5% tariff on mexican goods beginning next week to pressure its government to block migrants from crossing the border. a high level mexican delegation is in washington this week for meetings with u.s. officials to try and reach an agreement. >>> and quest diagnostics says as many as roughly 12 million patients may have had their personal information exposed in a security breach. now, the company says one of the billing collections firms it works with alerted it last month that

diane king hall is at the new york stock exchange with that and more.rning, diane. >> good morning, anne-marie. all eyes on the job market with the delivery of the jobs report later this monday. stocks closed higher yesterday amid hopes u.s./mexico trade talks are making progress. the dow rallied 181 points, the the s&p 500 gained 17 points, and nasdaq added 30 points. >>> google will allow people to play games directly over wi-fi with any tv with chrome cast, a computer with a chrome browser and google pixel phones. there are no downloads as the games exist on cloud servers. staid ya can also sync game progress among devices. >>> today marks the first ever world food service safety day. the initiative was to shed light on the importance of safe food. there are an estimated 600 million cases of food-borne diseases every year. almost one in ten people in the world get sick after eating contaminated food. 40% of those are children under 5 years old with 125,000 deaths every year. >>> and today is also national doughnut day. many donut shops nationwide wil

diane king hall at the new york stock exchange. you got it. >>> still to come, tears of joy for carrie underwood. she's the top winner at the cmt music awards for her song cry pretty. rd, you eat right... mostly. you make time... when you can. but sometimes life gets in the way, and that stubborn fat just won't go away. coolsculpting takes you further. a non-surgical treatment that targets, freezes, and eliminates treated fat cells, for good. discuss coolsculpting with your doctor. some common side-effects include temporary numbness, discomfort, and swelling. don't imagine results, see them. coolsculpting, take yourself further. hey allergy muddlers... achoo! ...do your sneezes turn heads? try zyrtec... ...it starts working hard at hour one... and works twice as hard when you take it again the next day. zyrtec muddle no more. >>> here's a look at today's forecast in some cities around the country. ♪ ♪ ♪ ♪ ♪ >> last night in nashville, carrie underwood was the big winner at the cmt music awards, which honors country music videos. sh

tom hanson at the new york stock exchange, thank you. >>> still ahead, a breaking the military's glassling. we meet the first woman to command a u.s. army infantry division. she made history again recently. at the end of a long day, it's the last thing i want to do. well i switched to swiffer wet jet and its awesome. it's an all-in-one so it's ready to go when i am. the cleaning solution actually breaks down dirt and grime. and the pad absorbs it deep inside. so, it prevents streaks and haze better than my old mop. plus, it's safe to use on all my floors, even wood. glad i got that off my chest and the day off my floor. try wet jet with a moneyback guarantee jill jill has entresto, and a na heart failure pill that helped keep people alive and out of the hospital. don't take entresto if pregnant; it can cause harm or death to an unborn baby. don't take entresto with an ace inhibitor or aliskiren or if you've had angioedema with an ace or arb. the most serious side effects are angioedema, low blood pressure, kidney problems, or high blood potassium. ask your doctor about entresto. announ

slack making its public debut right here at the new york stock exchange via direct listing.t its reference price of $26, the software company valued north of $15 billion. could be 16 billion or 17 billion. we'll have an interview with stewart butterfield. that's at 8:00 a.m well have more on this debut probably one of the biggest in terms of enterprise companies going public during this ipo vintage. we awere here last year for the uber ipo slack today. we'll bring you lots of news about it it's a different type of listing, it's a direct listing we'll talk about all of the dynamics around that for now, back to you >> we talked about that direct listing earlier this week. the pros and cons to it again? >> there are some pros and cons. you can only do it if you have a lot of cash on the balance sheet. this is a company that does. if you're trying to raise money, it doesn't work this way there's no additional money that gets raised the way uber was raising money and wework will be raising money. we'll see if it becomes a model. spotify did it successfully. slack is doing it. if

mike santoli has been covering the marketseor us from new york stock exchange. know, how much of a surprise was this sell-off? the old adage is sell in may and go away. >> that's exactly right, phil -- bill, and i do think we had one of the strongest four-month starts ines dec through april and the s&p 500 up more than 17%. i do thinkome kind o pullback was probably expected by many investors. i dot think the intensity of the decline and the fact that there was no relief along the way and every week was downnd of course, the tariff news made it about a little bit more than ving back gains and having plat profits and it became about how t world is going to grow for the rest of this year and to me it reflected in the market as peaps i expected the cut the trade issues. >> the trade issues are still with us and what are you hearing with the trade war still in place is the selling expected to continue or do you think we're little bit and ready to bounce? >> there are some indicators that say just because it's been lopsided to the down side in the month of may, perha

>>> welcome back to "fast money ", look at the cool crowd that turned out outside of the new york stock exchangeor chewy's ipo and that's not all, shares of the pet food company surging nearly 60% today during a ferocious first day of trading let's get to leslie picker down at the nyse with more on this. hey, les >> that's right, melissa chewy shares soaring today, up nearly 60% in their debut. it's their largest initial public offering ever chewy and parents company petsmart sharing a combined $1 billion to investors and the deal was massively upsized and priced above a boosted range and selling more than expected and it received the bulk of the proceeds and the retailer acquired chewy two years ago and it's worth quadruple the amount. >> so what brought investors in the door today well, americans are spending more on their pets and they are spending more money online chewy says its customers each spent $334 on average in 2018. chewy says its sail sales grew with increased spending without add being more customers it grew 68% and consumers are pivoting when buying in stores and online 14% of pe

seems like some are here, actually, on the floor of the new york stock exchange today.ow have we been able to measure the effectiveness of that and now that you do see things like antitrust group me on some of these social media companies, how are you thinking about it? >> we view it as an integrated market we have mirksed models and other algorithms for measuring the influencers then give your teams simple metrics to focus on >> what do you have to do to qualify to be an influencer? >> i guess a really strong connection with the consumer strong style perspective and ultimate ly -- >> clothes is there a like a minimum follower count there must be a line somewhere >> it's really small literally, we work with some of the biggest in the world we also have a robust system so some of the small ones are only a few thousand followers. >> is insta? >> today the favorite is ins instagram. it's instagram today we think it will be that way in the future >> what happens if facebook is serious about removing likes what does that do? >> yeah. i don't think that affects us at all. our

hall at the new york stock exchange., diane. >> you got it. >> still to come, the nba award winners. the winner of the mvp trophy gives an emotional speech and thanks the heroes in his family. there must be something you can do... son.. my father is going. my brothers too. i'd rather die than stay... son, you can't. your heart's not strong enough. my heart is as strong as any. ♪ ...you have to let me go. uncover the lost chapters of your family history with ancestry. get started for free at ancestry.com >>> here's a look at today's forecast in some cities around the country. >>> special counsel robert mueller's report on russian interference in the 2016 election received the hollywood treatment. >> ten acts of obstruction. >> act one. president trump asked the fbi director to shutdown the investigation into national security advisor michael flynn. >> last night annette benning and more than a dozen other actors took part in a live reading of a play which included portions of the report. the play is called "the investigat

investing are greater when we come together. ♪ >>> we are waiting slack's first trade here at the new york stock exchangethe reference price set at $26 per share, giving it a value of $15.7 billion. joining us to discuss slack and the overall ipo environment new york stock exchange president stacey cunningham. good morning. >> thank you it's an exciting morning. >> it's a little bit different than what we're used to. take us through the steps as we await this opening trade. >> i think the biggest trade, that price discovery is happening here on the trading floor unlike with an ipo where there are shares issued the night before that really creates a price that investors are use to go determine that the value of a company, that's happening right now. so that's what that crowd is doing over there, trying to figure out where supply neets demand and have stability in that opening price. >> they don't know how much is going to be sold, which is different than a typical ipo i talked to, what are they called rangers? not underwriters they don't know -- >> that's right. a direct listing doesn't work for everybody

bobasez sawny following the action from the new york stock exchange. >> what's behind the rally?here'sot of yu foreuphoria about u.s./china trade talks. energy led the gains, crude oil spiked almost 6% after iran struck a down u.s. drone in what was called an unprovoked attack. it is amid recent attacks on oil tankers in the persian golfers. the market took aip briefly midday on president trump saying iran made a big mistake, quot unquote, and hinting that the u.s. could consider a strike against iran, but it bounced back soon after when the president appearedpeo sculate perhaps the drone was shot down in error. after all, trade also playedpa in today's moves. stocks moved higher on a headline coming from the south china morning post that china and u.s. negotiating teams may be meeting as early as tuesday next week before the big g20 summit. what's missing from the rally? we're lacking some fundamental fire just look at carnival cruise line today. it is cutting its full-year forecast because of weaker european booking goes and more travel restrictions. carnival closed down 8% and

for "nigh i'm morgan brennan at the new york stock exchange. >>> but thatyasn't the o deal today. salesforce is buying tableau software for about $16 ngbillio mahis one of the largest software acquisitions ever. as typically happens, the company being acquired rose sharply while the acquirer fell. josh lipton dives into the details. >> reporter: groundbreaking. that'how analysts are describing sales force's decision to buy tableau software. it's one of the largest software quisitions ever. analysts say the deal is transformative, because it means salesforce ceo marc benioff can offer his business customers something they desperately wa, more ways to gather, order, and analyze the data they collect. that's what tleau does. it has more than 86,000 customernd including verizon netflix. >> what an amazing transaction for the tableau shareholder. i mean, they are about to be in a business where their biggest competitors were going to be amazon and google, and all o ga sudden the bought out at a 50% premium. i mean, that is -- i mean, we're breaking out the champagne on behalf of the ta

. >> tyler, thanks >>> get straight to bob pisani for more at the new york stock exchange bob? >> hello, kelly. this is an oversold bounce of trade optimism but the most oversold sector, take a look in the last month transport stocks semiconductors, retail all somewhat to the whole trade story. mining as well, all the big movers today speaking of retail, just want to mention, tiffany's, of course, finally a little bit of a bounce on earnings. even though the guidance wasn't that great and horrible month or so here. you saw that china warning about traffic to the united states, tiffany came out and called this out. if you look at their u.s. cop store sales for the quarter, down 4%. specifically cited a drop in chinese tourists coming to the united states, not buying tiffany products and there you see the impact of the trade war. one specific company tiffany raised its dividend 5% now, 2.6%. have you noticed these retailers are suddenly outperforming utilities in terms of the yields partly due to the decline in prices you've seen but this is very interesting and attractive. look a

i'm michael santoli at the new york stock exchange.ing a big upside reversal this week the stock soaring more than 16% from its multiyear low hit on monday is the worst possibly over for tesla we have john petridas. a barrage of bad news and people downgrading expectations for volume sales all the other headlines and the stock seems to have snapped back from a multiyear low does that tell you anything? >> i mean, for the bulls on tesla, you really are happy the month of may is over and june has come what a rally in the stock. i think the stock is at a crossroads strong conviction on the upside or downside, no in between you're buying it for the long-term. you think and tesla will continue to dominate the e-car market five years from now or you think they're going to drown and burn through cash and the stock will go consistently lower. no in between here we're in the case of the bear side we think valuation is just not attractive for this capital intensive business where more competition is coming to the market >> back above $200 a shar

scott redler, down at the new york stock exchange, you are up at bat for stocks. is equities the real place to be at the moment? >> you have seen over the course of the last week, the s&p has digested a big two-week move. two-week move was based on the fact that the fed started to price in three rate cuts between july up through 2020. all the data is confirming we are slowing. the question is how fast will they cut rates. at this point, traders are taking it week by week at this point. 2874 is the level that needs to hold in the s&p cash on wednesday. if that level holds, maybe we see a commitment to the last move and above 2910, believe it or not, we could be on our way back to the 2954 high. at this point i think traders are trying to figure out will upper commitment stay or will we roll back down. liz: s&p at 2893. good to see you. when we come back, we now have an eighth death in the dominican republic. what does that mean for the travel industry there? we have the ceo of one of the biggest and highest ranked hotel chains in the world. he's here exclusively ne

we look at the latest start—up — workplace app slack — to join the new york stock exchange.from london, that's our top story on thursday 20th june. the business communication app joins uber, lyft, wework and pinterest to go public. with more than 200 initial public offerings lined up in 2019, are we seeing signs of the same tech bubble that burst two decades ago? we bubble that burst two decades ago? will be getting also in the programme... bubble that burst two decades ago? north korea welcomes bubble that burst two decades ago? china's president xi today — a hugely important visit for a country so dependent economically on china. and the markets in europe are all heading higher, following the lead from asia and wall street the night before, we will tell you all you need to know about the latest fed decision. tradition meets technology — the remarkable turnaround tale of german camera—maker leica — whose most famous fan is the queen. today we want to know — hong kong's richest man will pay students fees at a chinese university. is philanthropy the way to support students an

i'm david faber with sara eisen and mike santoli, live from the new york stock exchange. m has the day off. carl is on assignment. a look at futures. we get started with trading, half hour from now, here from the new york stock exchange. looking up not as much as we were when i was checking in around 6:00 a.m. to "squawk box" but still looking up road map this morning, it starts with a potential trade boost, stocks as you saw pointing to what would be a pretty good open at least if you're long after treasury secretary mnuchin said there is a path to a deal with china. >> plus, trade head winds hitting home, fedex saying the ongoing disputes are creating, quote, significant uncertainty for its business outlook. >>> micron surging this morning, this on strong quarterly results. the chipmaker also resuming some sales to huawei and forecasting demand recovery this year. >>> stocks are looking to rebound this morning, this after treasury secretary steven mnuchin expressed optimism about trade talks in a cnbc interview. here is what he told hadley gamble in bahrain. >> i'm hopef

$3700000000.00 it will cease return to private hands after 31 years a public company traded on the new york stock exchange. which is where yens is so why is it going private well life can be easier if you are not publicly traded company and with your quarterly earnings reports you do not have to tell the shareholders every 3 months what to do and if they're happy with your course if you have. the private money it can be easier and more dynamic to deal with the challenges in the world them especially also the big competitor kristi's so the stock of saw the beast was up by almost 60 percent at this point $7000000000.00 as you mentioned is a premium of about 61 percent to shareholders. in support of their forests in new york thank you now it's often said that business hates uncertainty exhibit a might be the american firms bracing for yet another round of import tariffs on chinese goods should they really engineer long established supply chains or wait for a resolution to the trade dispute other way they're losing money and many are now asking the trumpet ministration for end to theme or goods has prompted t

slack is set to start trading any moment through a direct listing on the new york stock exchange. ney is raised and new shares are sold. they can start selling them on public exchange. there is no lockout period, meaning anyone holding shares can sell them immediately. they can also avoid bank fees. direct listing fees are only about 2%. in a directwnsides listing. there is no stabilization agent, a role usually taken by a bank to make sure that the new stock does not swing wildly. choiceemain the route of for most companies. 248 companies have gone public through traditional ipo's in the united states. the venturete that capital arm of bloomberg lp is an investor in slack. guy: a quick look at european markets. bid following the move yesterday from the fed. we are seeing oil and gas do well. and massive swing to the upside in the oil and gas sector. technology is doing well. some of the cyclical stocks are doing well. the banks are not having a particularly good day. ipo's is one way to go. direct listings is another. let's bring in emily chang. after 2019's bumper crop or wildlyl

i'm carl quintanilla with jim cramer, david faber at the new york stock exchange.usy friday, reports the president approved and backed off a military strike on iran. refinery fire in philly has gas futures up eurozone pmi showed some stabilization. oil on pace for the best week since 16 and quad witching today. we begin with the geopolitical risk for stocks after notching a new record for the s&p markets are poised to pull back amid heightened u.s. iranian tensions. >> we have gasoline futures jumping this after an explosion and major fire at philadelphia area refinery. it is, by the way, the largest facility on the east coast. >> and slack soaring debut, shares poised to rally at the open but for other tech unicorns eyeing the public markets, is this a sign of peak ipo? stocks are set to open lower after a record close for the s&p. multiple reports now say the president did approve military strikes against iran as retaliation for downing of a u.s. drone and later backed off. s&p still on pace for the best june since 1955. the nasdaq leading the major indices this

we are also waiting trade on the new york stock exchange.derstanding was that once again inside a dollar that will start to get the first trade coming through. they want that bid a little tighter before we get that to actually happen. joining us now from bloomberg technology, standing by at the stock exchange. spotify dropped sharply as it came to market via this rate. how is the current pricing you are seeing down there in where we could ultimately close with work today? >> that is the big question. we saw the reference price, which is supposed to be a guide for opening, at $26. that was tied to the private trading before previously in february and may. now we are seeing the price go up. clearly there is some confidence from advisors like goldman and citadel toley and say that this start could open much higher than that indicated price. vonnie: it is fascinating. at $7.1any is valued billion trade we are looking at at least double that. the market cap is likely to be double, maybe even triple that. eric: it is amazing. this range we are get

that's bob pisani down at the new york stock exchange. josh, i come back to you you had your choices bob has been saying there's a lot of ipos. why this over some of the others >> first i did get filled pretty much the second it opened really orderly process on the new york stock exchange they should be congratulated for it they did a great be job. a very big deal. so now you have a company with $600 million in revenue for the fiscal year. what's expected? this is a company that managed to get to 100 million in annual revenue in one three years almost never happened in any kind of enterprise software company. the typical company has taken six years. so it's viral. this thing is spreading. not spending money on advertising. companies hear about it, ado i want and their employees get addicted to it immediately the total market is tremendous one estimate, $28 billion. and there are people talking about this being potentially as disruptive in term of what it can do within the workplace as sales force was a decade ago so those are very lofty e

ing that w we have a closer look from the new york stock exchange. >> stocks may be within striking distance of historic hhs, but on group left out of this rally has been transportatocks and that could be a little bit of an issue for the market. shipping and freight names for for example, they' had a rough time. truckers like rider, logistics like fedex in double digitsow the transports are still in correction territory overall, down about 12% from their 52-week highs. a bit alarming because many investors use transports as an important braromther of the hef the u.s. economy and even the global economy. is any weakness in the sector could spell more trouble ahead and make it hard to stock a sustained momentum. that's the key premise behind dow theory but fedex in particular has already cut its full year guidance twice since des citing macro conditions and weaker obal trade growth trends. that's very important because they'r broarometer of global health which is a notable divergence between ground based transportation and the rlines. they've been doing great quarter so names like jet blue, al

. >>> opening bell of the new york stock exchange, the dow is up 53 points right now. bank shares -- from the meeting and chinese president. >>> new details surrounding a secret project at tesla. cnbc says the company is developing its own battery cells in a secret lab. right now tesla partners with panasonic for its cells, so it could be good news for people buying a tesla. it could soon sell the vehicles cheaper if it's making its own batteries. >>> new details of ceo zuckerberg is speaking out about the fake video of nancy p in re was too slow in flagging the video. it took the social media giant more than it. on plotsest does not drink. >>> well, that weather looking great this weekend. if you are planning to go out in the water, i want you to be extra careful. check out this video. that's a paddleboarders being rescued from the bodega bay jetty on tuesday. the paddlebearder needed help, but we're finding out they'll be just fine. >>> how's the weather going to be, kari? >> it's to be really windy. you should always check the weather conditions before going out on t