Market Déjà Vu; Facebook’s Election Ads; A Lesson for “Robinhoodies”

Squawk Pod

CNBC

Business News, News, Investing, Business

4.2 • 543 Ratings

🗓️ 3 September 2020

⏱️ 35 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Markets are partying like it’s 1999, or at least, some investors think so. GAMCO CIO and seasoned investor Howard Ward underlines the differences between today’s market environment and that of the dotcom bubble nearly twenty years ago. Viral trading app Robinhood is under investigation by the SEC; former SEC Chairman Harvey Pitt warns millennials about the costs of an execution service that’s marketed as free. Mark Zuckerberg has announced that Facebook is rolling out new policies ahead of the November election, including prohibiting new political ads the week of the election. The platform will also remove posts using Covid-19 to discourage voting and flag premature victory posts. CNBC’s Jon Fortt discusses why this could be a smart move for social media. Plus, schools are ironing out Covid testing plans, and a Manpower Group survey says both employees and employers are looking forward to a hybrid workplace in 2021.

Transcript

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0:00.0	This is Squawk Pod. I'm C. NBC producer Katie Kramer today on our podcast.
0:06.0	Facebook taking a stand on future election advertising and investors looking back to the
0:11.0	future for the markets.
0:12.0	When you talk about sentiment and some of the ridiculous market activities of 1999,
0:18.0	I think we're a little bit more sophisticated now than we were then.
0:21.0	No such thing as a free lunch or a free trade finance app Robin Hood is under
0:25.8	investigation it might be favored by younger traders but former SEC
0:29.7	Chairman Harvey Pitt says Bean Green has its price.
0:32.4	We're dealing with a whole generation Harvey Pitt says being Green has its price.
0:32.8	We're dealing with a whole generation of millennials
0:36.8	who are not used to trading in the markets
0:40.4	and therefore they may not understand what the consequences are.
0:45.0	And working from home till 2021 and beyond details from a staffing firm's forward-looking survey.
0:51.0	It's a new workplace, it's a new workforce, and the worker
0:54.8	is now interested in balancing their life.
0:58.6	It's Thursday, September 3rd, 2020, Squawk Pod begins right now.
1:03.0	Good morning everybody.
1:05.0	Welcome to Squawk Box here on the NBC.
1:07.0	I'm Becky Quick along with Mike Santoli and Brian Sullivan.
1:10.0	Joe and Andrew are out today.
1:11.0	Guys welcome, a lot to talk about. Yesterday's rally was
1:14.5	one to watch and it sent the Dow back above 29,000 for the first time since
	...

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