it is $149 to start with sonos.our job is is to get people who have all that great music from spotify, apple music, pandora on their phone and get them listening to it out loud at home. that's where we come in because of our open platform supporting all those services. that's what we are talking about in this next phase of sonos and what i'm most excited about. alex: on the roadshow, you talked a lot about the opportunity that voice-activated speakers bring. we definitely pair amazon's alexa with the next age of voice-activated speakers. amazon is a partner and a company that tends to strike fear into other technology companies. how do you manage that relationship going forward if they decide to push more into the wireless speaker space? patrick: we've managed relationships with amazon, apple, and google for more than a decade. we have put alexa on the platform. google assistant will come later this year. it has been beneficial for both sides in terms of them being able to get their services into our 7 million homes

i use sonos. you're a sonos user, let's talk about the company itself.r. this is a 14 year old company. people don't always appreciate that. this is not a start-up. >> no. >> how should we think about the valuation and how should we think specifically about the fact that it came in below expectations >> we definitely encountered that general tech market weakness we've seen in the last week or so and i think you hit on an important point which is what i learned across the road show is that people don't know us very well and don't really understand the story and so i was spending a lot of time helping people get to understand what sonos really is, because you see the hardware and people naturally see the hardware but they don't understand that more than half of our team is actually software and it's the software as you guys know from the experience, the software is what really makes the magic happen and we are the most unconventional hardware company you've met because we have 93% of the products we've shipped over those 14 years are still active today. we

it's $149 to start with sonos. what our job is right now in this second phase is to get people who have all that great music from pandora, apple, you know it, on their phone and get them listening to it out loud at home. that is exactly where we come in, because of our open platform supporting all those services. that is really what we are talking about in this next phase at sonos and what i am excited about. alex: patrick, on the roadshow, you talked a lot about the opportunity that voice-activated speakers brings and we pair alexa with the next age of voice activated speakers, but amazon also strike, they fear into other technology companies. how do you manage that relationship going forward if they decide to push more into the wireless speaker space? patrick: you know, we managed the relationships with amazon, apple, and google for over a decade. we have put our music services on their platform. we work closely with them, respect all those companies. we have put alexa on the platform, google assistant will come

that gives sonos a market value of around 100 billion dollars.n april, the company hoped for a valuation quite that -- twice that size. it was the tech headwind we have seen the last couple of days. as we got on the road, it became apparent after the facebook weakness that investors were getting skittish. --patrick, i hear you but listed above range and the discount was more than we have seen tech stocks fall out of bed. were there certain points in sonos's business that investors are paying more attention to that perhaps they didn't get as excited about as i know you are? the whole think roadshow was about educating investors in terms of our model and the quick reaction is always , they make these great-looking speakers and so they are a hardware company. we did have to spend a lot of time helping investors understand that we are a totally different kind of company that builds products that last for a long time and people come back of those- buy more products. we are conventional in that sense. in consumer electronics, we are the only company th

the product like i do, but i'm not enamored of sonos the company. i think sonos the stock is way too risky, even as i'm a committed cruise user of their speakers murr much more "mad money" ahead. it's the battle for dealer dominance. find out whether carmax or auto nation belongs in your showroom. >>> then it's the dog days of summer [ barking but i've got one red hot stock that might be worth earning. see if agenda to your portfolio could have you bark up the right tree >>> and it was only a few weeks ago that elon musk called out analysts i'm drilling down on this takeover talk and what it means for the short sellers. so stick with cramer i'm a small business, but i have... big dreams... and big plans. so how do i make the efforts of 8 employees... feel like 50? how can i share new plans virtually? how can i download an e-file? virtual tours? zip-file? really big files? in seconds, not minutes... just like that. like everything... the answer is simple. i'll do what i've always done... dream more, dream faster, and above all... now, i'll dream gig.

. ♪ caroline: breaking news, we have low pricing of sonos, their ipoial public offering, the currentlyt $15.90. if priced at $15, somewhat underwhelming for the center of consumer tech because it was initially marketed at a range of $17 to $19. say, it is increasing. we are up seven percentage points in terms of how it is trading at the moment. more notable that it did not sell as much as it had been marketed for but up in the days trading. vonnie: staying with tech, we are watching apple shares. momentum getting stronger, trading at 206.21. we are looking for 207 point04 207.04 to to hit -- hit the one trillion cap.this is what happens to take them over the line? >> we will see what happens. that is what we are waiting for. it.market wants to see you are seeing strong price action that apple this morning, so it is possible we could hit that today. milestone, butig we should remember we have been that the milestones before and a lot of companies that get to the top of the mountain do not always stated that long. vonnie: what is the difference between apple hitting the trillion dollar m

sonÓ la campana y curtis se sale del ring y se va sorpresivamente era un pleito pactado en los pesosiban a pagar sonÓ la campana, lleguÉ y me voy >>> impresionante gracias michel >>> correcto en "titulares y mÁs" >>> miguel mira esto. dicen que la desdicha a veces se convierte en dicha sno leo pregunten a los condes que quedaron atrapados en un superatasco en los Ángeles por un accidente. entre ellos habÍa un vendedor de tacos ambulante que decidiÓ abrir su camiÓn por ser la hora del desayuno, todos tenÍan hambre y cumpliÓ asÍ con la demanda que habÍa alrededor los conductores le agradecieron ese cafecito y el desayuno improvisados en plena autopista 105 asÍ no te enojas tanto si comes. >>> necesitamos mÁs como Él >>> que vengan a miami gracias por dejarnos entrar a sus hogares mÁs noticias esta noche por telemundo buenas noches >> [jack] oscuridad. ese es mi primer recuerdo. estaba oscuro, hacÍa frio...

. >>> and disappointing news from sonos before its public debut. all that on this thursday, august 2, 2018 "worldwide exchange" begins right now. ♪ >>> good morning welcome from wherever in the world you may be watching. i'm brian sullivan trade tensions are topping the headlines. the president instructing his top trade representative to look into slapping a 25% tariff on 2$200 billion worth of chinese imports. as we told you yesterday morning, that would be up from the proposed 10% tariff rate on those goods. u.s. trade rep robert lighthizer saying the rate increase is to encourage china to change its harmful policies china has vowed to retaliate against any new tariffs. markets are reacting to the news keep in mind no tariffs are in place just yet it's subject to public comment congress reversing in the senate some tariffs last week so nothing has changed right now. these are proposals, but enough to spook the market. dow futures are down about 138 a couple hours ago it was more seeing selling across the board. let's see if that moves the bond ma

this week we saw sonos begin trading on the nasdaq.w the marketed range trading about $1.5 billion valuation, half of what it hoped for. peloton meantime has just raised $550 million before a planned ipo. so, how will the rest of this play out? we have our ipo reporter and olivia -- who wrote a story on peloton. we want to start with the broader market. how does this year compare to last year? >> folks are super excited about how this year compares. there have been 33 technology companies which includes internet companies, they have raised $11.5 billion through july. last year and all of 2017 we had 40 companies raise $13 billion. we have almost jumped over 2017 when it comes to new listings in the u.s. and deals like dropbox are pushing that number up. spotify does not even come because you remember that was a direct listing. it's been a bigger year. the markets continue to be conducive for initial public offerings. and investors do seem to be paying out for most companies. sonos may be the exception. emily: peloton is planning to go

. >> wireless speaker company sonos made its market debut on the nasdaq today the big one, the companyo at $15 a share andel th was its earlier target range of 17 to 19. competition is intense in that business, but sonos said it partners with its competitors and executives say it is the strategy that i working. ? now what we're doing is riding the wave of streaming and pan door and apple music has been fantastic, and nobody thought we could put off all of the ompetitive services on one platform. >> we have amazon alexa and google a sisterant coming later this year. >> shares spiked32into $91. somes working. >> a growing number of investors are using etfs as a way to put money into the market and they're relatively easy to understand and they're cheap. as bob pisani reports they're gettin even less expensive. >> seven months into the year and etf investments have been strong and not like 2017, $178 billion flowed into the etf business in the first seven months of the year and that's a respectable 7% increase and that's higher than last year when 280 billion came in f duri thst serve mon

asÍ sonÓ la campana para honrar la memoria del oficial que perdiÓ la vidael pasado viernes.sucediÓ la tragedia. estar en la carreteraes peligroso uno puede sufrir algÚn accidente esas fueron las palabras de la patrulla de caminos. oficiales saben el peligro que puede represen tar estar vigilando las carreteras pero tambiÉn saben el compromiso que tiene con la comunidad. vamos a ser la lavo aunque nos cueste nuestra vida. >> el incendio mendocino cobra la vida de un bombero el departamento todo de protecciÓn expresÓ su mÁs sen pido pÉsame la causa de su muerte es trabajo en vez situaciÓn pero todo parece indicar que se tratÓ de un terrible accidente. con estas imÁgenes en vivo nos vamos a enlazar con nuestra meteorÓloga. >>tenemos el semen tocino completa que ha estado generada y que es sobre todo afecta la calidad del aire de hecho en el norte tenemos un nuevo y siete y ha quemado mÁs de 4000 acres en terreno, sin embargo ya sea contenido en un 85% y prÁctica si cabe hace un mes del inicio de este siniestro, las misiones serÁn aptas y dependiendo la calidad del aire va a var

families let's play >> caller: my stocks are g.e., pfizer, apple, facebook and sono am i diversified> okay. man, these guys are playing "hardball" for here. you have industrial in g.e. and upgraded we have pfizer drug company, apple, one of our favorite tex then we have two other companies, i will call sonos a tech even though it's a housing tech we will get rid of them. we will facebook down 5 today. it's -- apple is just better, let's say it's better. i will put in iac. why not? a little diversification, a diversified company that gives you diversification. i've been -- there was a great piece today on raytheon. i thought it said really good things i thought it would be terrific that's it? that is the end of am i diversified? >> more at the end of the break. - i love my grandma. - anncr: as you grow older, your brain naturally begins to change which may cause trouble with recall. - learning from him is great... when i can keep up! - anncr: thankfully, prevagen helps your brain and improves memory. - dad's got all the answers. - anncr: prevagen is now the number-one-selling brain he

la alarma ya sonÓ.a semana mÁs temprano. >> nuevos estudios indican que los alumnos, especialmente si vienen de bajo nivel acadÉmico pierden mÁs su rendimiento acadÉmico. luz: el distrito escolar tomÓ esta decisiÓn para ayudar a que mÁs de 700 estudiantes de secundaria puedan estar en el mismo horario que las escuelas comunitarias para asÍ tomar clases universitarias despuÉs de sus clases escolares. >> mi pasiÓn es la educación y estoy muy orgullosa de que este aÑo se mejore el rato de graduaciÓn en toda la ciudad. luz: la alcaldesa de oakland espera que el porcentaje de estudiantes que se gradÚan el de la secundaria, aumente. >> los la secundaria tienen mÁs oportunidades a asistir a la universidad y por eso hemos comenzado mÁs temprano. luz: para evitar que su hijo entre a un aÑo escolar con un bajo rendimiento, este experto recomienda repasar los temas donde su hijo o no recibiÓ buenas calificaciones como tambiÉn revisar la lista de libros de verano para asegurarse de que todos hayan sido leÍdos. y es

miles de turistas han tratado de abandonar el Área en barco o aviÓn, y justamente la alarma sÍsmica sonÓ mes pasado, los mismos vecinos res portaron que en funcionaban conscientes que estas alarmas pueden ayudarlos a salvar su vida. >> prueba de audio. >> el sonido durÓ diez segundos, aunque eran pruebas sobre el funcionamiento de la alerta sÍsmica no hubo pÁnico en la ciudad de mÉxico. >> no es tan alarmante como la otra. >> muchos habÍan visto este video advirtiendo que se realizarÍa el ensayo. >> lo habÍa escuchado. >> esta prueba obedece que el pasado 19 de julio temblÓ en la ciudad de mÉxico y mÁs de mil alti alti al altavozes * no funcionaron, esto se produce cuando la magnitud pasa los 5 grados en escala de richter para muchos esos segundos pueden salvarle la vida, todavÍa nervio, Él recuerda lo que pasÓ en el terremotol a pasado que dejÓ 12 muertos en la capital del paÍs. >> todos empezamos a correr de hecho y mÁs que nada a apoyar al jardÍn de niÑos que teniamos al lado. >> en los Últimos meses han ocurrido al menos 4 sismos arriba de 5 grados por eso es una prioridad que funcio

hey, speaking of audio, be on the look out for the sonos ipo later this week. of people are exexcited fs maker with double-digit revenue growth kind of feels like roku to me. we'll have to see where the deal actually prices. but if it comes at reasonable price, sonos could be a good addition to any stay-at-home portfolio. finally, i want to give you one last tangential ecommerce play everyone knows about amazon. but how about prologics. their number one customer, amazon when you order stuff online so you don't need to go to the store, the odds are good that your package when through a pro logis warehouse. in april, the company announced that it was buying another stock we like very much, dct industrial trust, which will cement their leadership in the industry since then the stock has barely budged a lot that of is because the real estate investment trusts have fallen out of favor interest rates are rising again. but prologis is the kind people don't own for the 2% yield it's a growth story, for heaven's say, a fabulous play on ecommerce and therefore i would be

the manufacturer, sono, isn't the only car company rushing a solar powered car to market. has one of the lightyear but it has a higher price tag of around $140,000. one reason eupee u.k., and ban l cars by 2040. making the internal combustion engine a thing of the past and g's it for "matter-of-fact." we'll see you back here next week. [captioning performed by the national captioning institute, which is responsible for its caption content and accuracy. visit ncicap.org] i'm april kennedy and i'm an arborist with pg&e in the sierras. since the onset of the drought, more than 129 million trees have died in california. pg&e prunes and removes over a million trees every year to ensure that hazardous trees can't impact power lines. and since the onset of the drought we've doubled our efforts. i grew up in the forests out in this area and honestly it's heartbreaking to see all these trees dying. what guides me is ensuring that the public is going to be safer and that these forests can be sustained and enjoyed by the community in the future. "asian pacific america." and welcome t

the various security chiefs took to the podium at the white house we heard from general paul neka sono of the u.s. cyber command christopher ray the head of the f.b.i. dan coats the director of national intelligence as well as kirsten nielsen who is the secretary of homeland security now one by one they spoke but they all kind of seem to repeat the same kind of new. this is the security chiefs making their allegations our democracy itself is in the crosshairs paid by russia to try to weaken and divide the united states' threat is not going away to prevent foreign interference in our elections to prevent russian and other foreign influence and the russians try to hack into and steal information candidates and government officials alike cyber attacks against voting infrastructure along with computer intrusions malicious cyber actors targeting look to officials that goes beyond the elections it goes to russia's intent to undermine our democratic values we've heard the head of the n.s.a. come out and say that the u.s. government is prepared to engage in special operations to counter russia

sonos. they'll price 13.9 major shareholders is kkr.% of the company here and, of course, sonos is competing with apple which has, you know, its own system that is out there. we'll see how they do. by and large, big couple of weeks. we'll go into the august slump we're hitting the final wade now before we get into the prelabor day slump that officially happens with the ipo business. right now dow up 5 point -- 8 points with a modest open. back to you. >> thank you >>> what a day in the bond pits. we'll check in with rick s santelli. >> a big day and it isn't over yet. look at the 24 hour chart of 10s. we're trading currently at 3.01. if you open the chart to early may, we haven't been at the 3% level since may. maybe the most important thing is why okay, above and beyond the fact that fed meeting and we seem to rise into it, by the way, the curve is steepening today. it's a global environment. the bunds are moving higher. almost 50 basis points highest yield since june looking at guilds. just shy of 140. highest yield since june and may

as you saw, so knows got a -- sonos got a valuation far off from its target.question is, is there redemption in trading? alex: it seems like there was. the stock closed up 33%, which is a good pop when it comes to u.s. ipo's. that is what you want to see, but that is from a level that is further down than where they would have wanted to begin with. ramy: moving from here in terms of buying sonos gear, where will the growth come from? it is one thing buying the gear versus buying the stock. alex: folks love their speakers. everyone i talked to, run into, let's their gear. right now the company for investors, it may not be enough. they are pushing the idea that voice activated speakers and streaming music will be a big boom for business. doing moresed to than listening to these things and want to bring it into the home. that is interesting for them to push into because you have players who not only are they working with to use voice-activated controls like amazon and google but also coming out with lower end speakers of their own. lots of competition here and po

and that's when they say he called his sono tell him which broke federal law. t insiderrading saved those involved more than hree quarters of a million dollar last night, collins remained defiant. >> theharges levied against me are meritless. and i will mount a vigorous defense in court to clear my name. >> collins' son and the father of his son's feeianee are saals facinggechs. all three pleaded not guilty. >>> and redskins football is back. the redskins kick off their preseason in new england. >> tonight, we'll finally get to see the new quarterback alex smith who makes hisdue beautyeb. news4 spoke to dennis richardson and derrius guice. >> i always put it on a uniform at the nfl rookie premier, getting ady. from-t 1 through 10, i'm like a 12 right now. >> love that, love that excitement. it's infectious. we're excited. tch the 'skins take on the pats right here at part of a new wave,ew season, new hope. >> doing big things. >> yes. >> 6:52, time to check in with sheena parveen, she has our storm team 4 forecast >> his smile is contagious. as we go through th

that's the concern number one, if i was ceo of apple the first thing i would do is buy companies like sonosoing public very soon this is a very attractive company. control four is a very attractive business. on the car side how apple hasn't taken a stake in tesla will go back in history as one of the biggest mistakes in tim cook's career this is an opportune for apple buying 10% or 20% of tesla and getting the ios system into the tesla screen on the car has tremendous potential so, we really think that apple has to start thinking about this they are spending a ton on r and d. they are hitting it out of the park completely with everything that they are doing from the past but it's the future of that that we're starting to focus on >> david, on this idea that apple may be economically should look something much more like a for profit utility without price controls or even a consumer staples business, apple is in the odd position where this great recurring services revenue doesn't come with higher margins than its original core business and hardware that's one bit of push back. another would b

watching tech overall, sonos, fitbit, go pro higher. >> then the fed later this week. >> back to headquartersthank you all and welcome to the halftime report. on this busy monday. i am brian sullivan. your number to watch today is this 2872 why? that is the record high for the s&p 500. we're about 17 points away or 0.5% from that all time high lot to talk about. joining us on the desk, joe, jim, josh, steven and pete i'm kidding. that was for you, pete guys, all right, welcome

, 19.91 after being priced at $15 on when night, the lowered price below the 17 to 19-dollar range sonos initially targeted in part to recent selloff in tech stocks. cheryl: let's talk about warner music trying to reach the ears of younger audience. tracee: acquired hit fix dime and up rocks itself, the 10-year-old online hub and video production house aimed at younger generations, 40 million people across social media, youtube and beyond the terms of the deal were not disclosed. lea: all right, interesting, we are using less cash but now chase wants to move away from cards, can you explain what this is all about? >> this is forward-thinking move, chase is rolling out cardless transactions to most of atm's so you no longer need physical debit card and can get cash using mobile wallet like apple pay or google pay or samsung pay on your smartphones, atm's with the cardless symbol you open mobile wallet and tap your phone and enter pin number to access the account, the number appears in mobile wallet. cheryl: they've debuted in some spots in new york. tracee, thank you. lea: thank you, trac

. >> including sonos telling people to buy it i'm caught up. go ahead >> caller: the cost position is only $90.38. your target on actions alert plus is $130 in the last month been up to $101.78. it can't seem to get over the news of pipeline capacity and i'm worried about the miss i'm a little nervous am i still sitting on a good pick the stock i'm talking about is cimerex. >> i beg to differ that was not a miss, a stock going down i read it three times last night. there was no miss there. they were very good. i will explain that on the next call for alerts. i think cimarex will screw it up why? they have so much natural gas still. it's a great company if they would come on air they could tell us. the only guy who came on air was one refinery, that stock is up huge and one pipeline company. i good morningly believe they will be up huge next year but i believe only me and maybe the ceo agrees to the trillion and beyond apple deserves to sell for what people will pay for it isn't that capitalism. i'm speaking to clorox find out how the household

autonomy ten years ago, looking at buying a tesla, hindsight is 20, 20, ten years ago looking to buy sonosreaming music space would have made sense. these are areas to some degree apple ended up playing catchup given formidable resources, it may ultimately come out on top hindsig hindsight where apple perhaps could have made investments earlier. >> scott, as tony mentioned, the argument out there awhile that apple should have bought tesla, we had investors on in recent days that continue to make that argument do you think that's even a possibility or something apple should be considering right now? >> in today's market cap for tesla, even though it dropped prior to yesterday's earnings call, it is 50 billion plus market cap business. that's a big play. i don't know that they want to buy an electric vehicle manufacturer i think the value added for them would be tech software and data. i would look more at operating platform i personally think they ought to be more interested in lyft or uber to get in the space that's where the data will be collected. when autonomous vehicles exceed expectat

sonos makingify, debuts. if the pace holds, the number of tech ipo's in the u.s.ave returned to levels not seen since 2013 and 2014. how will the rest of the year play out? joining us, our bloomberg ipo and tech reporter. spent the last several months trying to tackle this market. what has been so unique about the last six months? jackie: technology has been exceedingly active, and i know we have been waiting for this to come back. the last couple quarters have been exciting. we are definitely seeing technology companies themselves, and tech businesses in general really eager to get out. i think a lot of this is driven by the fact we have been in such a strong economic market now for a number of years. everybody wants to access this window. emily: will it continue? q1 are going to be very busy markets for us. emily: i am curious. the bull market has been going on so long, conditions have not really changed outside vehicle in 2015 --the hiccup in 2015. why are companies deciding now is the time? i think back to last year when everyone was saying, it will be next ye

. >>> if you're about to t get ou n for this holiday weekend, you can take sono comfort inng that there are teams of road crews making sure you can get to where you're going safely. tonight transportation reporter tuss rides along with the maryland emergency road patrol as they gear up for a busy holiday weekend. >> some days it could be all day. >> reporter: us a make your way around this last unofficial weekend of summer. >> copy disabled t >> reporter:hese are the guys that will be making sure the roads are safe. >> lking for people to break down and mak t surehat people get to their dtinations. >> reporter: meet steve manias with the maryland department of emergency management patrol. >> i am just looking p forple who need help. >> reporter: he finds someone od the roa and heri goes ght to work. >> the tread came off the tire, it was a retread and when i came off it knocked the mirror off. >> reporter: you want to talk about a w stressfulk environment. look where guys areaving to change this tire, right next to the busy side of the road and this is something that happens every singl

i want to look at sonos. the shares moved higher and sunk lower after analysts were mixed. they were all giving price targets and there were good ones at that but there are concerns. it could be go pro-or fitbit. >>> canada, usa, mexico every year, a trillion dollars traded. automakers are moving higher because a new deal is beneficial to the group. fiat chrysler and general motors moved 4% to the upside. back to you guys. >> thank you, nicole. great to see you. we have to talk about the deal leveling the playing field. president trump announcing preliminary agreement on a new trade deal with mexico to replace nafta. fox business's edward lawrence has been live all day at the white house, at the trade representatives office. you have all the details. what do we know? reporter: you forgot to mention the embassy. i've been in mexico and back today. this is a wide-ranging agreement. it covers more than manufacturing, we're covering textiles, medical device, communication and technology. also agriculture. zero tariffs between the u.s. and mexico on agriculture and gene splicing

to the north bay, 82 sono,ma vallejo, into the east bay the fog right now, the sunshine into the afternoon. 70 the high. and oakland. 76 fremont. 87 brentwood, about 81 san ramon. accuweather seven-day forecast it is cool with clouds to sun. back to average on thursday with warmer air arriving here to end the week on friday. here we go the weekend, it is bright but hot away from the coast. inland spots hitting that century mark yet again. that's your weather. check out roads with alexis. >> g. oornmo areingp following the tr alert around sfo. northbound 101, a fatal crash involving a pedestrian. a sig alert in place before you get to millbrae avenue. we have the two right lanes blocked. the two left lanes are open and we've got about a two-mile backup approaching that scene. matt keller is just arriving there now. looks like he is caught in the traffic jam. we are going to be checking in with him shortly and he will have more information on how long these lanes will be blocked and what happened. we started off with an early morning crash, westbound 80 in emeryville. we had several lanes bl

watching tech overall, sonos, fitbit, go pro higher. >> then the fed later this week. >> back to headquarters and the half >>> thank you all and welcome to the halftime report. on this busy monday. i am brian sullivan. your number to watch today is this 2872 why? that is the record high for the s&p 500. we're about 17 points away or 0.5% from that all time high lot to talk about. joining us on the desk, joe, jim, josh, steven and pete i'm kidding. that was for you, pete guys, all right, welcome so we are one-half of one percent away from record territory. what can drive us into that? what could derail the market josh brown, please don't sigh more buyers than sellers >> buy backs will help two things but i still want you to stay around for the rest of the show. these guys probably have some interesting stuff to say as well number one, when you look at the brooefs team we hit that, which was late january of this year on the s&p, two things were happening. number one, we were extremely overbought on the basis of rsi. we were hitting an rsi of between 80 and 90 for two weeks. which is way overdon

sonos launches its ipo, buzz it -- but is this the right move for the smart speaker company?o and an early investor.

i think sonos market cap is $2 billion.pocket change at this time for apple. >> is it fair to say this a coming from the cheap seats and you don't plan on selling any time soon anyway >> absolutely. apple is a hold for us it's been a solid investment for our firm you know, we want to see apple continue to grow and innovate. had their product announcement and everyone will gather around the computer and excitement. we don't have that anymore it's kind of a non-event when apple announces new products coming in the fall i would love to get back to that >> is it fair to say that it's making up quite a bit more of that than you anticipated? or is there something else >> we knew apple had to go into services and diversify its business from just selling hardware they've done a phenomenal job at that they're on track to hit their goals of $50 billion by 2020 they've created a great wide ecosystem that people can't really get out of. so that will -- that trend should continue to grow. >> okay. great. danny, thank you for your time w

the stock trades under sono. they redesigned the nasdaq's opening bell. here's how it sounds. bose and samsung, along with apple, am amazon and google. chase wants to eliminat limb na- eliminate cards. you can get cash using a mobile wallet. teenagers across the country are all thumbs up. things like apple pay or google pay on your smartphone, users can simply tap their smartphone on the atm to access money on the go. and finally, check this out. sat l he'll's space needle -- seattle's space needle unveiling a glass floor 500 feet above the city. it slowly rotates, providing a dramatic view. it's part of the $100 million renovation project and the little bags you'll need perhaps are free to decide in case you get air sick that high up. maria: looks good. thank u. adam. coming up, a new controversy surrounding colin kaepernick, the latest fire storm for the quarterback coming up. fly, eagles, fly, the details on a new beer here in time for the football season later this hour. back in a minute, right here. ♪. - [voiceover] this is an urgent message from the international fellows

what sonos isis now pricing at. this is below the range, the offering range of $17 to $19 there.e will see how that pans out once they start trading. there had been cut -- had been sayingiticism about this a great product is not always make for a great business. it appears that investors in terms of what they are -- in terms of what their appetite is for these shares is now in a bit of a question. plenty more to come on daybreak asia. this is bloomberg. ♪ yvonne: look at the markets here, a tipsy turvey week start to the market here this morning after the u.s. session. didn't do enough to alleviate concerns when it came to japanese bond markets. chinese stocks still the ones to watch here on more tariffs coming through. we did get dbs posting a 24% gain of profit but still somewhat missing estimates. plenty of earnings in the pipeline. this is bloomberg. ♪ ♪ yvonne: 7:30 a.m. thursday in hong kong. a cloudy picture out there looking at the peak area this morning. we are expecting showers here throughout a couple hours or so. we are minutes away from the major market opens. ramy:

one of the biggest real estate firms in the country we've talked a lot this morning about sonos. on earlier 13.9 million at $15. this is a kkr deal they own 22% of that of course they compete with apple and have a rather big ecosystem for apple to support the competition right now. we're just barely off lows, carl 161 points down in the dow >> bob, thank you very much. >>> to rick santelli at the cme group in chicago good morning to you, rick. >> good morning, carl. interesting rates post central bank meetings, whether central bank of japan, u.s. federal reserve, or bank of england last night, you always garner some volatility bank of england obviously was the most aggressive of the lot, very much expected if terms of rate increase. look at one week of 10s. we finally got our 3% close yesterday. we're sort of holding this build-up that we've experienced for a variety of reasons if you look at 521's start on the chart, third week in may, that's about the last time we settled at 3% or higher. now let's switch gears a bit and look at what happened to the 10-year guild as mr. carney

it's an interesting week for ipos sonos priced below the range at 15 versus a look at 17 and 19 was thege. they open at 33% on day one. and today adding another almost 5% to that a lot of discussion from the ceo yesterday on "squawkbox" saying, guys, market doesn't understand the story very well. but that's two pretty good days. >> hardware company, right >> yeah. >> it's been a good year for ipos i know a lot of focus this morning. i think they have the pellton ceo on "squawkbox." >> right in the series f. >> yeah. >> positioning is not just a bike company or a machine company but media company. because they do their own programming, as well. >> argument is you don't need to buy the treadmill if you have a treadmill. you can watch their streaming content on your 60 inch television or your ipad. so trying to leverage the installed base of treadmills that people have. >> one other point i want to mention, it looks like a big loser is shake shack reporting earnings last night. the comp store sales is a big metric 1.1% in line with estimates. the stock has run up so much we were talking to

sonos launches its ipo, but is this the right move for the smart speaker company? we will speak to the ceo and an

soaring as sales for key games came in strong higher by 9.5% ibm adding 30 points to the do you up 30% sonoshe second day of trading the speaker maly 33% and higher by 6.5% today. >> i'm steve leastman let's dive deeper with bob pisani at the new york stock exchange. talking about your comment in the last hour it's not profitable to sell the trade story. >> it hasn't and i think that's one of the reasons we are holding up so well and the fact that the jobs report put the three monthly numbers together, 224,000 pretty good growth for lake soim economy. it's choppy this week but some remarkable winners remember we gave up consumer staples for dead look here process kraft heinz has a generally good report. yesterday the problems with commodities yesterday problems margin erosion color ox mentioned that but the stocks are up. and turned around. the whole sector up 10% in the last month after selling off the entire year. oil unfortunately below 70 we have all sorts of problems here with the iran issues with production being too high it's been an ugly week for energy overall this is a problem afte

sonos began trading on nasdaq after an underwhelming initial public offering. $208 million gives them5 billion. in april they were hoping for evaluation twice that size. is navigating large scale technology disruptions. europe's biggest engineering will shank the number of operating from five to three. >> but we set out in 2014 was consolidating, cleaner restructuring. it is completely different. it is about growing the company altering -- which i think is quite a massive promise to the markets and our shareholders. p.m. w sticking with the annual forecast, despite being caught in the middle of the u.s.-china trade battle. bmw an outlier. mw's made inhe b south carolina. francine: thank you. the tesla chief executive burned through less cash sending shares apologizedn he to the analysts he made fun of last quarter for asking bonehead questions. >> honestly, i think there is no excuse for bad manners. i was violating my own rule in that regard. and had 120-hour weeks, but nevertheless, there is no excuse. posen is still with us. brian, if you look at concerns on tesla, looking to its p

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