Federal Reserve, David Westerns, Bloomberg discussed on Balance of Power


Bloomberg World is listening. This's balance of power. Bloomberg television and radio. I'm David Westerns. Time we get a check on the markets for that we turn to scarlet food. Scott, What are they doing? Well, David, it's more record highs here for the S and P. 500, the NASDAQ the fourth straight record high for both those indexes right now we're back to the tech drives everything. Stock market rally. Clearly, the outperformer here is tech and tech related companies. You've got sales for us coming in with Bloch West results, Jeffries called a monster B and raise second quarter Netflix also popping, you can see gains of 9% there. The Wall Street Journal Reporting that TIC tac is Asking that flex to join in on the bidding. All the Netflix denied that it's taking part Adobe perhaps up in sympathy, and Facebook, gaining almost 5%. And, of course, the backdrop here is improving ties between the U. S and China at least when it comes to the face, one trade deal Bloomberg is reporting China said to buy a record amount of soybeans from the U. S this year, so the effect tracks soybeans SA Y B is trading at around 51 high. You can see the study grind higher over the past three months of 7.5% gain. Even bury strategists are capitulating. You have to buy his Levkovich over a Citigroup, raising his urine target for the S and P 533 100 from 2900. And he says that is because in large part of the Federal Reserve, so when you talk about the Federal Reserve, Of course, we've got J. Paolo, the Fed chairs. Speech tomorrow at Jackson Hole, the virtual Jackson Hole symposium, and that is helping Dr Bonds lower and pushing yields up. He's expected to say the central bank will keep rates lower for longer. We're thinking at least the next five years. That's according to people who are kind of gazing into the crystal ball, and also to say that the Federal Reserve will tolerate faster inflation, perhaps above its 2% target. We also have a five year auction of Five year auction notes. An auction of five notes there ago at 1 P.m. today will be looking for that love supply coming into market and seeing if the market can absorb all that, David Thank you so much. It's a healthy reminder that despite the conventions, everything really it's the Fed that matters. Thanks so much to Bloomberg. Scarlet Fu up next one of the standout speakers at the Republican Convention this week. Democrat Vernon.

Coming up next