Global Schrader. At first futures are higher following earnings from two tech giants, Amazon shares are surging 12% after the company reported revenue that top estimates and Apple shares are up 2% after it also beat estimates. Bloomberg intelligence, senior analyst Matthew bloxsom has more. They're keeping costs under control. That's been a really big focus for Amazon shareholders recently and optimistic about the next quarter you have been issued a range for revenue guidance that was pretty much consistent with where analysts are expecting it to be. I think for Apple iPhone sales held up better than expected. People expecting New Mexico on in the next quarter and that's going to really help sells and encouraging Tim Cook said they expect to see progress in revenue in that quarter. Matthew blocks him at the Bloomberg intelligence as both Amazon and Apple are positioned for strong performances in the next quarter. And we just gotten results from Chevron and Exxon mobile Karen, the big oil companies both reporting earnings above analyst estimates shares of Intel are down nearly 10% the chip maker's profit in sales miss projections and Roku shares are plunging down more than 24% after it also miss estimates. Economic report is also due out today. The University of Michigan issues its national consumer sentiment index for July. It comes as experts debate whether the U.S. has slipped into a recession, one top official says no, we get the latest lie from Bloomberg's Rene to young good morning. Good morning Karen, treasury secretary Janet Yellen is rejecting the notion that the U.S. has entered a recession. She points to continued job creation, gains in consumer spending, strong household finances, and growth in business. Although she acknowledges a slowdown is needed to tame inflation. We know there are challenges ahead of us, growth is slowing globally, inflation remains unacceptably high. And it's this administration's top priority to bring it down. Treasury secretary Janet Yellen says she remains optimistic about the country's ability to fight inflation. Live in New York, I'm renita young Bloomberg day break. We need a new note on geopolitics this morning President Biden and Xi Jinping have agreed to set up an in person meeting after their long phone call yesterday. And futures this morning are on the rise S&P futures up about 30 points. Now, futures up a hundred NASDAQ futures at 144 thus the 5 things you need to know to start your day brought to you by interactive brokers. And it's now 6 33 on Wall Street 75° in Central Park got an accent on the southbound FDR drive at 63rd street that Peter van's going to tell you about in a few minutes, first Michael Barr is here with what else is going on in New York and around the world, good morning, Michael. Good morning, Nathan, a former state Supreme Court Justice, and a former democratic power broker from western New York, where sentenced to prison for their roles in a bribery scheme which authorities say influenced judicial decisions and official appointments. G Stephen pigeon, the ex chairman of the Erie county democratic committee, received a one year sentence, former justice John, McAllen, received a year and four months. Heavy rains have caused flash flooding and mudslides as storms pound parts of eastern Kentucky, Kentucky governor Andy beshear says that at least 8 people have died from the flooding in the state. We have activated our National Guard in fact, I just signed a state of emergency that will unlock the resources needed and also tell the people of eastern Kentucky that we are going to be there for them. Governor Bashir also says about 20,000 people are without power. New York City mayor Eric Adams met with the newly confirmed director of the ATF Steve dettelbach and the statement Adams says the ATF will be a partner in ending the flow of illegal guns to New York City and in taking down the violent offenders. We want ATF to double the number of ages here in New York City. And we need Congress to support the ATF with the resources to make that happen. Mayor Adams also called for revoking the license of the nation's largest supplier of ghost guns. Vice president Kamala Harris was in Brooklyn yesterday to speak about the Biden administration's investments in underserved