Amazon, Andy Jesse, Dana Mattioli discussed on WSJ What's News

WSJ What's News
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Automatic TRANSCRIPT

We begin with the transition at amazon on monday. Jeff bezos step down from his role as ceo. It was part of a plan transition announced in february following him into c. suite. Is andy jesse. Who headed up amazon web services known as aws. Here's the journalist. Dana mattioli who covers amazon. He's been presented. Says is a lot more laid back than jeff. Bezos softspoken doesn't really like to be the center of attention but also very very very into the details. We think the biggest obstacle for him to go from. Aws which is a bit silent with an amazon to running what is essentially one of the world's largest conglomerates with a lot of different moving pieces. You can hear more of dana's insights on our tech news briefing podcast. Hackers behind a ransomware attack affecting hundreds of businesses have demanded a seventy million dollar payment to unlock infected computers. It's the same hacking group responsible for a cyber attack on meat supplier j. b. s. about a month ago. The attack began friday when hackers targeted the software company. Kosei up it see oh said. He briefed the white house on the payment demands and that the company wasn't aware of any impact at critical infrastructure. A white house. Spokeswoman didn't immediately comment president biden over the weekend told reporters that he had been briefed on the attack that. Us officials were tried to determine the extent of the russian government's involvement and we're keeping watch of tropical storm. Elsa is expected to pass near the florida keys today and move near or over portions of the west coast of florida into wednesday. According to the national hurricane center elsa made landfall in cuba on monday use oil prices have risen to six year highs. It comes as an opec. Deadlock raised the prospect of a summer in which crude production fails to keep up with rebounding demand from the crush of drivers hitting the roads stocks. Were unusually quiet in the month of june. But some traders think that's about to change markets editor. Quinton web joins me from hong kong to explain. Why high quinn. High them. Quinton looking at history. What typically happens during the summer months. What happens with volatility right. So i mean we're coming out of the kind of very placid stretch in some ways. So if you look at june intraday highs and lows in the s&p five hundred very close together. It's been actually quite kind of calm. Market but history. If it's any guide suggests that things are likely to get a little bit choppier in the months ahead and one big reason for that basically is because a lot of people tend to be on holiday. You know so. There are a few traders and investors at their desks. And so the moves that you do see in markets can tend to be amplified a bit more and that's basically because there isn't quite as much money sloshing around the system if you like. There's not as much kind of buying and selling stocks so when the market is less liquid you tend to see a slight pickup in volatility. So the ingredients for volatility are there but is some are even a strong season for traders and for the markets. Well good questions so you know if you look historically july. That tends to be a sort of reason we good month. The markets so some p. Five hundred has risen more than half the time tends to gain. You know one point. Six percent on average through that month but then august is notoriously typically a week month the stock market so all in the next couple of months not great. You know if we're looking at history as a guide. Summer is here clinton webb. Thank you as always. Thanks very much just ahead. The banking community is divided.

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