35 Burst results for "Dave Wilson"
Bloomberg Radio New York
"dave wilson" Discussed on Bloomberg Radio New York
"Over the air television I mean or streaming services just point is do you get commercials I don't see anything that has commercials on it Really How would I I watched Do you pay extra for no app I watched Netflix I watch iTunes I watch sports I watch Amazon but I don't really see ads because the point of your story The point of my story was that basically there are advertising to workers not even to people to buy their subscriptions and they're doing it through We have great healthcare we're increasing our minimum wage we're increasing our hourly wage excuse me We're increasing some of the kind of work we're doing around child care and things like that And it's the first time that I think I've seen someone a company actively use the airwaves to advertise hiring as opposed to advertise spending right Yep And I think that kind of goes back to I still don't know where these 5 million people are that left the workforce Who are they Where did they go And are they ever coming back to the test They're coming back right I mean as if wages continue to rise if inflation continues to rise they're going to have to come back at some point I would think so But I kind of go back to our good friend Dave Wilson Bloomberg stocks editor for 32 years He ain't coming back I think he's a special case but he was also close to retirement age He's been working at a great company for 30 years and he's a good investor So that's the kind of person who should be retired Right And now the young folks and they're going in there I mean I look at the housing starts today another really strong housing number out there in terms of housing starts building permits Strong labor market I look at some of these data I'm like I don't see a recession in 23 Look let's be honest You could leave at the drop of a hat Where am I going No but if you don't want to but if you want to leave you know you had a long Wall Street career in your here You were smart with your money You could go Pretty is just kicking off her career right So let's say she works Let's say she works for three decades They're retiring next year man All right You should be able to leave after 30 years right If you want to But all right I know Yeah I have three kids It just entered the full-time workforce And I just said save save save save max out the 401k because who knows what's going to be out there 30 40 years from now Who knows for us The social security and all that I'll still be working Yeah I'm going to be sus I'm done here I'm going to be at greeter Walmart That's my kind of my key job I know I'm getting my CDL You are Yeah okay Sure Chasing that long white line Yes Very good You should be a trucker Commercial driver's license Trucker I can see that Yeah I can definitely see what I wanted to a diner And Idaho in the middle of the night getting some chow You were going to ask what I do with my motorcycles There are big big rigs now So I would carry them along with me you know A break from your trucking Yep All right there we go One trucker one greeter Walmart then next career moves for Bloomberg radio All right I created Gupta Bloomberg markets correspondent Thanks so much We will chat with you potentially in the next hour We'll talk about stuff Just looking at the market share good strong strong move higher here today Again the S&P NASDAQ all bet 9 ten to 1% Right now let's head down to Washington D.C. and get world in national news with kneecap Paul thinks it is a new phase in the war in Ukraine defense officials there say Russia has launched attacks.
Bloomberg Radio New York
"dave wilson" Discussed on Bloomberg Radio New York
"Well Is that I can tell you I got my first mortgage I think in 1980 I would have killed for 10% Am I significantly above 10% actually It's always a pleasure having you with this really helpful Thank you That's senator Mike Braun of Indiana Now we have to turn to the markets The stocks are moving higher today This is fed chair Jay Powell just wrapped his testimony Stocks editor Dave Wilson's here So Dave great to have you with us It's sort of a mirror image It looks like yesterday I mean you said the same thing but the results were entirely different It really is It's like people had a day to absorb the idea that the fed's bond buying might be cut back sooner than planned His shift in view on inflation that it's maybe not so transitory So you've got a broad based rally going on whether we're talking about larger companies or smaller companies S&P 500 and Russell 2000 indexes both up about one and a half percent We have bonds falling which means yields rising in the treasury market and you've got crude oil moving up Now it had been higher as much as 5% that then OPEC ministers starting to get together and think about what to do with policy I mean that's sort of paired to gains Nonetheless I mean you look across energy stocks you know they're moving up ExxonMobil up two and a half percent lower energy one of the biggest refiners of close to 5% schlumberger in oil services also up two and a half percent and just an ETF that follows the materials part of the market up 1.7% but put it all together it's clear the commodities are showing some strength here So Dave you followed stocks for so terribly long give us a sense of the relationship between the stocks and the interest rates because we heard Jerome Powell the chair of the fed today say he thinks they can taper and taper more aggressively without causing real disruption Is he right Well as far as the markets go I mean it sort of looks that way because you look at the interest rate sensitive areas of the market Utilities and real estate they're among the best performers when you go through the S&P 500s 11 main industry groups at the same time you know you've got financial stocks doing relatively well And higher rates tend to be a plus for them in terms of their ability to make money on their loans and investments So when you put that all together indeed does look like what the chair Powell is saying is being received positively Yeah I'm not surprised that financials go up when they think the rates are going up What about tech though I had thought that when the rates go up tech gets hit well to the extent that they tend to be tied to rates as far as when you buy a tech stock You're going to have to wait a while for the return It's all about growth And so therefore yeah rates do come into play I mean that said you know they're holding their own in today's trading And that relationship sometimes comes and goes in the market And for the moment I mean you're seeing some confidence I mean it's clear rates are going up at least if you look at market expectations built into the futures contracts I mean you see it all the way out to the end of 2023 increases bigger than what people were anticipating just a few weeks ago So Davis I mentioned you've covered stocks for quite a while now And 31 of the years has been right here at Bloomberg and this is as I understand your last day unless we can talk to you out of it in the last possible second But you have been such a mainstay for so many of us And I want to take just a personal note here A lot of people will tell you you know what you see on the air You know the person and what they say and how they report it And of course it's been very valuable to have Dave what you don't see is what happens behind the scenes The work that he does for all of us with all of us to really keep us up to speed And a lot of the training that he has done through the years of some of the younger journalists that's a lot of we would call it intellectual capital that's going to be departing with you We're going to miss it terribly Dave Well thank you I appreciate all that I mean it's certainly been a privilege to be here and to work with so many people over the years whether it's being in a newsroom and providing some guidance or in a formal training setting which I've done several times over the years It's going to be quite a change No question Well it's been a great pleasure And we wish you all the best in your new life You get a whole new life Dave Thanks That'll be a challenge to kind of figure out what to do with it all but I'm looking forward to it for sure You'll figure it out I have no doubt and then he thanks to Dave Wilson signing off For the last stock of the hour here on bounce of power coming up the law and the politics.
Bloomberg Radio New York
"dave wilson" Discussed on Bloomberg Radio New York
"German partner BioNTech its ADRs of 18.8% right now AstraZeneca's ADR is up 9 tenths Moderna rallying 22% Johnson & Johnson are by four tenths of 1% Briefly stay at home stocks also pushing higher Zoom Video Communications zooming higher by 8.1% Peloton getting a workout up now by 3.3% Again recapping steep losses for stocks fast moving markets on this holiday shortened session stay with Bloomberg for the very latest S&P down 86 down 1.8% ten year old 1.51% And that is a Bloomberg business flash All right Charlie Paul thank you so much we appreciate it Yeah lots of red on the screen here We've got some selling accelerating here from where the futures were Let's get right to it Bloomberg stocks editor Dave Wilson Dave what are you looking at Looking at lots of losses Let's start there I mean you've got like 7 stocks down at least in the S&P 500 for everyone that's up ten to 11 main industry groups lower and what we're seeing in the travel companies kind of cuts across several of those groups industrials That's where you find the airlines consumer discretionary for like the hotels and a lot of other segments communications where online travel They're all being hit to some extent Energy stocks though the worst performers among the 11 main groups I mean you're looking at a drop of more than 6% for the S&P 500 energy index That would be the biggest decline since June of last year if it holds up And the one area that's higher no surprise healthcare What's interesting though it's not just the vaccine makers of Charlie pellet was talking about though they're clearly leading the way We're also seeing gains among lab equipment makers Perkin Elmer notably up about four and a half percent and medical testing companies as well Quest Diagnostics and LabCorp laboratory corp from America both up more than 3% And what's striking to me is just how much people are trading If I look at the terminal right now I can see that volume on the S&P 500 for example 73% above the 20 day average for trading I mean Dave that seems pretty remarkable I thought things were going to be kind of sleepy today as it everyone else Well that was because you weren't planning on a new variant of the virus I wish I had known And it really does change the equation at least for the moment I mean that's fairly evident in what we're seeing in terms of trading I'm just taking a quick look across companies listed on the New York Stock Exchange and NASDAQ sort of a broad gauge We're up about 40% from where we were this time on Wednesday Most recent trading day before the Thanksgiving holiday So it does go to show you that today which is typically one of the slowest days of the year It's just not playing out that way I think it's a whole work from home thing There was nobody on the train this morning So people aren't coming in to trade But they've all got their system set up at home And they're at work today I bet a lot of folks that I need to be at my desk today Yeah absolutely Whether it's the desk in their home or the desk in the office I mean face it we're more than a year and a half into this pandemic and new people just into it in terms of their setups for work and you know on a day like today you no doubt see that playing out in terms of how much stock trading we're looking at here And I feel like if the volume was lower it would be easier to write off some of these moves as in overreaction but I mean if you look at the S&P 500 this is turning into quite a move down almost 2% At what point though does it look like an overreaction even though this sell off is coming on a lot of volume You know it's the sort of thing that I mean at first blush You sort of understand where it's coming from I mean we've seen this movie before you know people know what happened in February and March of last year And so that's relatively fresh in their minds So you know you get this new variant and it's like run for the hills The real question now is how does this all unfold What's the severity How widespread is it I mean there was one case in Belgium that's been found I mean how widely did people travel and how much of a concern is that down the line And to what extent do the existing vaccines kind of counteract that There are a lot of things we don't know at this point And as the cliche goes markets hate uncertainty And as you get a day like today my stay at home trades working well though right My peloton my all those things that were just crushing it and the early part of this pandemic and a little bit of research really needed it too Yes That stock had been suffering all of this month Well you talk about a stock that needed Zoom video Just the other day there Ernie's came out the sheriff's fell out of bed and now today at least they managed to make back some of that loss still down 33% for the year We should note by the way and peloton off almost 70% Paul So you know that trade didn't work out so well if you had it at New Year's Day That's exactly All right so we're seeing here selling across the board here Again the question is how much is this really reflective of material changing economic outlook It's funny Dave junior Martin Adams was saying you really gotta wait till next week Get a couple trading days when everybody's back in the office Everybody can really parse through this information to maybe make any material changes to their outlooks Yeah absolutely And let's face that we've seen so they steady as she goes market for the most part this year I mean you look back a couple of months and certainly stocks tailed off a bit then they bounce back so here we are with something like 66 records in the S&P 500 this year And who knows Maybe people look at what's going on today and see it as an opportunity going into year end Yeah so action with Ben laidler from etoro was just saying on surveillance He was looking at some stocks that he's going to start buying over the next couple of days He thinks this might be a little bit of a buying opportunity So see if this all plays out we'll bring you the trading activity throughout the day Bloomberg stocks editor Dave Wilson thank you so much We appreciate it We'll check in with you in the next hour on a small cap stocks but I'm looking at WTI crude oil off 8.4%.
Bloomberg Radio New York
"dave wilson" Discussed on Bloomberg Radio New York
"As the company forecast record profits Our senior stocks editor Dave Wilson has more So good news for deer right now boy Yeah absolutely I mean whether you look at their latest fiscal quarter that ended in October or you look at their forecasts and then all things are kind of working out for them Even as they deal with supply issues even as they deal with higher labor costs coming out of this contract they reached last week with something like 10,000 union workers This is a pretty rich contract And I say but it looks like they can afford it Oh absolutely it is I mean they've talked about how it's going to cost them as much as $300 million a year before taxes The additional pay out of this agreement And then you look at that number fiscal fourth quarter sales not quite what analysts were looking for but Ernie's beating estimates And in terms of the next fiscal year they're expecting sales to surpass projections And it's really coming from U.S. farmers as much as anything Crop prices going up they have more money to spend You know you're looking at what they call the large agricultural business in North America something like 15% revenue growth I mean that's really sort of the source of the forecast they come up with So you know dares in a good position right now given what's happening in its main agricultural market Yeah we're seeing some of the supermarket in the price we're paying for food but the same time that's before you get to infrastructure money and construction equipment right Yeah absolutely And deer gets something like 25% of its revenue from a category They define as construction and forestry So they stand a benefit like a whole lot of other companies think a caterpillar for one from the build back better a program as it's implemented So you know put it all together and there are a lot of things working into your favor at this point And that explains why they're optimistic about their prospects this fiscal year We're good for deer Can't root against them Thank you so much to Dave Wilson our senior stocks editor Coming up Best Buy takes a hit from thieves Is this a trend in retail We're going to ask Anthony cucumber of Luke capital And this is balance of power on Bloomberg television and radio This is.
Bloomberg Radio New York
"dave wilson" Discussed on Bloomberg Radio New York
"Markets During today's Dave Wilson so Dave some of the big news today was released from the strategic petroleum reserve which means that means the price of oil went down right Right No it didn't actually we've seen oil go up in today's trading Couple of reasons for that I mean we've seen some folks talking about how they expected more out of the U.S. reserve are the reserves of the other countries in a coordinate with the U.S. You know China Japan South Korea India the UK And then think about it if you're going to take all the soil out of reserves it's got to be replaced at some point so you figure there's going to be more demand down the line So you put it all together and yes you've had crude oil move up in response to the release from the reserves And then you know you turn to what's going on the bond market And yesterday was all about the renomination of Jerome Powell for a second term as the head of Federal Reserve and we saw yields go up as a result of that We're seeing more of it today Now the two year yield has actually come down a bit but you look further out ten years 20 years 30 years higher yields Now how's that playing out in terms of markets Now kind of the way you would expect I mean you see the S&P 500 moving lower even though best performers on the day energy and financial stocks among the 11 main industry groups in the S&P 500 technology though down mean a lot of people kind of look what's going on in the barn market and figure of yields a rise and maybe they don't want to own tech stocks so much So that's playing out in terms of that group's decline And you know you can't talk about markets today without at least mentioning the Turkish lira Reaching a record low As a result of everything that's happening in the country you know get this the idea that if inflation is accelerating you cut interest rates rather than raising them and that's what's playing out today You know so it's the 11th day in a row that the lira is lower Longest losing streak since 2001 you know back then Turkey was first allowing its currency to float in the foreign exchange market So it just goes to show you how exceptional The movie is president one It has his own theory of policy monetary policy We'll see if it works Thanks so much to Dave Wilson our stocks.
Bloomberg Radio New York
"dave wilson" Discussed on Bloomberg Radio New York
"Real estate utility stocks as a pair in a sense because now you're talking about two industry groups Where companies borrow a lot of money where their dividends historically have been relatively high So as a result they tend to be rather sensitive to changes in interest rates So you tend to think they move together This year has been a very different story You look at the S&P 500 real estate index about 33% one of the best performers among the 11 main industry groups in the S&P 500 And then you look at what's at the bottom of the pack Utilities Only about 6% and this gap between the two you know you're talking about the biggest potentially for a full year since 2010 And this is after four years where if you look at the relative performance of real estate and utilities there are pretty much in line with each other So this year a real difference and I suppose to some extent you can argue that with real estate I mean you're talking about office building owners you talk about mall owners that sort of thing And with the pandemic easing at least somewhat they've been to beneficiaries of that utilities in a very different position So maybe that explains why this year is different Nonetheless it really does stand out when you're looking to chart going back to 2002 which is when the real estate index was first calculated Dave I do have to have to What are you doing Pony or something I think they're getting ready for a Fleetwood Mac concert here I believe it's the private jet has land Yeah that's what it sounds like But please apologies to our listeners because we are live on the ground And you know we can't control the entire country This is like this is how it goes That's for sure But we can control now we can't control Dave Wilson either but he does have a stock of the day What do you got there Well I've.
Bloomberg Radio New York
"dave wilson" Discussed on Bloomberg Radio New York
"Texas intermediate crude oil is down 8 tenths of a percent of 80 to 94 a barrel Collects gold is little changed at 1863 20 announced the ballerina one 1396 The Euro dollar 1443 in the British pound of dollar 33 98 It's a Bloomberg business flash Bloomberg markets continues now Taylor ridge and Matt Miller All right thanks very much Greg Jarrett Now we do have as I said Kirk Seaver's here He's the chief executive officer of NXP Semiconductors and we're going to get to him momentarily I didn't forget about you Dave I just wanted to remind our listeners to stay tuned if they want to hear the chips part of the ships and chips But Dave Wilson is also here and he's going to give us a look at some of the small caps Well we're seeing declines not much of a loss but nonetheless the rest of 2000 index down in tenth percent while the S&P 500 is higher by four tenths of a percent The three worst performers in the Russell are all Dan about 43% with talking about a curious medical ticker if I be It's a hard device maker whose third quarter results were disappointing on chorus ticker OCR Cancer drug developer coming out with initial study data that clearly wasn't too well received and team incorporated ticker T isi This is a maintenance provider Their third quarter results came up short of estimates and they said they may not be able to continue as a going concern Biggest gain in the S&P 500 KAR sushi USA ticker K URS up at the moment 24% after reporting fiscal fourth quarter results would be estimates and exponential fitness ticker XPO F up 18% of the gym on a raised this year's forecast after third quarter results be estimates All right Dave thank you very much Dave Wilson there looking at this small cap Stocks Now let's get to the chip maker I'm just excited because Kurt sievers is here in studio with us And because they deliver chips to some really important products they deliver chips to Apple for example which I think we all love and use They deliver chips to Robert Bosch which helps make the ABS and all the sensors that I need to run my motorcycles Kurt talk to us about what the supply chain bottleneck looks like right now in terms of your industry In terms of your company Yeah so first of all thanks for having me today I love to speak about the supply chain because in a way we look at this from a demand perspective which is outstanding So the supply chain is still such that the demand is outstripping supply capability So while we are growing this year like 29% year over year we are still supply limited In our earnings call last week we also informed more specifically that we continue to be limited from a supply perspective in Q four And I think at least in parts of the business this is going to continue probably through the most part of next year It's interesting I know we're want to get to some of the supply outlooks but from a demand perspective as well analysts are saying the year 2024 revenue projections still look conservative Just given the demand from automotive math's a big fan of automotive industrial is that really the segments that you see carrying us through this big demand cycle Yeah you got to think about NXT in such a way that about three quarters of our overall revenue which is $11 billion this year is going into automotive industrial And it is going to be Borg Warner to Bosch BMW Exactly All ending up in cars but we are shipping to tier one suppliers like the ones you just mentioned That business is just booming like I've never seen it before in the past 25 years To give you a feel our automotive revenue this year which is half of NXP they grow about 45% year over year Now you will say well that's a weak compare because last year because of the pandemic everything was low anyway But it's also 30% above 2019 So even if you compare to a pre-pandemic year from a car production perspective we ship 30% more And it's still indeed not enough as you said Now why is that It's just an explosion of content increase One reason is electric cars I mean we all see that there's really a sharp rise of the rate of electric cars We think it's going to be almost 20% of the car production this year globally is going to be either hybrid or fully electric which is a big number I mean it's becoming material And that matters to us because they have about twice the semiconductor content to a combustion engine car So this is where the trip demand is coming I mean I was talking with Claudio Dominic Holi recently who's the CEO of Ducati And he was telling me the chip content is increasing at such a rate that sometimes there are parts he's not even aware need chips for example the headlights in his motorcycles now need chips because they're controlling the LED beams to turn in before you turn a corner So it's amazing the amount of content that's going in when is that stop What's the terminal rate there I don't see a stop at all because all the big mega trends which are driving innovation and automotive and those are electrification Autonomy think about the whole idea of the autonomous cars and safer cars so all these assistant systems which are actually protecting you from bad accidents And to connected car the whole idea that your car is actually getting software updates over the air or that your car can be can.
Bloomberg Radio New York
"dave wilson" Discussed on Bloomberg Radio New York
"Quickly shooting up far above the initial price set of $78 a share to give us an update right now We welcome our stocks editor he is Dave Wilson So Dave it's a stayed up there right Pretty much And extended yesterday's gains I mean close just above a hundred hours yesterday Today got his highest one 25 And with that kind of a share price you're talking about the world's fourth largest automaker now I mean Tesla certainly has the field to itself that comes Toyota Fourth largest automaker by market cap Not by number of vehicles manufacturers Because they've only made a couple of hundred or so so far But you've got Tesla you've got Toyota Volkswagen and then you have rivian It's actually passed dime more you know they make a Mercedes Benz vehicles when it comes to market value So you know it's pretty astounding for a company As you said it's really hasn't made a whole lot of pickup trucks or sport utility vehicles yet That's what they're gonna focus on They had a $1 billion loss in the first half but you can argue what's going on here is the Amazon effect Amazon with about a 19% stake in the company they've ordered a 100,000 delivery bands to be delivered over the next decade and this is a company that really has made out in terms of its investment Starting back in 2019 it put about one and a third $1 billion into the company Now that stakes worth almost 20 billion Yeah well I got to assume Amazon got a good price on those shares because what it meant for their IPO But the larger question is does the Amazon effect indicate something about a particular strength rivian has in the commercial area as opposed to personal use commercial use Well that's what they're focusing on In large measure with the kind of vehicles they're making And so you know having Amazon behind you clearly shows that they've got something going on Of course we should note Ford Motor also one of their largest shareholders So they have the backing from the more traditional auto industry you might say And you put that all together and it really helps explain why this company has become so valuable so fast even though it's really not doing much in terms of production at this point It is briefly at the end The forward thing is a little tricky though 'cause I actually took it out from under the nose of GM because GM would have been a benefit sharing That's right GM wanted to buy steak Nathan didn't work out for them but it certainly working out for Ford I mean given the way that rivian's performed in its first two days of trading Yeah it's pretty impressive I have to admit thank you so much Today for us in our stock editor for that report on rivian.
Bloomberg Radio New York
"dave wilson" Discussed on Bloomberg Radio New York
"And with us now in the Bloomberg interactive broker studios it is a party onto this Friday's E Dave Wilson is stock senator at Bloomberg news with us right now Michael McKee international economics and policy correspondent at Bloomberg news also joining us here in the city In New York City Dave Wilson what do you have your first of all welcome back This is the first time you've been on Bloomberg business week this week And it's been lonely without you Well what can I say I'm glad to be here Okay so what do you have your eye on in the markets today You know what jumps out of me It's one of those days when if you look at the indexes you don't really get a sense of the story I say that because the S&P 500 while it's been higher all day has only been you know as much as about half a percent higher So you figure it's kind of stuck in a rage And then you go through when you look at the individual stocks you see 9 of them have moved more than 10% So there's a whole lot of volatility in the shares that isn't being reflected in the indexes And if you want to know where that volatility is coming from a lot of that is out of semiconductors Qualcomm up 13 and a half percent after its results in video of 14% Wells Fargo talking about the opportunities for that company as you know Facebook or should I call it meta platforms I think you should call a meta now Okay whichever that company Microsoft and others work on the metaverse And now on the flip side you've got corvo which is down 14% after its results late yesterday They're having issues trying to sell their chips for smartphones because of all these supply chains snags and everything else that is affecting the broader smartphone industry So that stock taking a beating Nvidia and Qualcomm though definitely helping to lead the gains here So hard to get a story out of the index level I want to talk about the story with the jobs market though because we have a big report coming out tomorrow the October employment report Mike McKee walking through the data this week made a big beat on ADP slightly better than expected jobless claims this morning How much should we read into that as we head into tomorrow morning Unfortunately as jpeg kind of make clear yesterday it's hard to read a whole lot with any certainty into these numbers because we've not been in this situation before The models don't work and everybody thought once we got to September school's open moms can go back to work Unemployment checks stop and people go back to work and that didn't happen In September So maybe it happens in October That's the bet of the Wall Street analysts who are forecasting 450,000 jobs and is pal loaded We're not going to get the million jobs at a time that we got last summer But if we got 450 to 506 100,000 a month we would close the gap pretty quickly Does any number that we get tomorrow Michael below a certain threshold Does it make the fed rethink everything we heard yesterday from Jay Powell I don't think so because they know that QE is not solving the problem The fact that interest rates are extremely low and real rates are negative is not going to get anybody to go back and look for a job It may create demand but that's not an issue right now in the economy So we're just they can go ahead and taper The question is the market perception of when they would start raising rates And that could be affected by the numbers tomorrow And I mean turning back to the stock market we obviously bond yields C bond yields moving lower in the wake of yesterday's meeting You see that taking a bite out of financials Also caught my eye that if you look at the Dow it's definitely underperforming today down four tenths of a percent I mean Dave what do you make of that Is that just another hard to get a story out of this more about the individual stocks Yeah I mean that's kind of the way it looks I mean since you mentioned it down we should note the best performer on the day in that average is Merck and you know they got the first approval for their COVID-19 antiviral pill out of the UK So things are looking positive on that front And in part it explains what's going on with the makers of the COVID-19 vaccines and then of course there was the disappointment out of Moderna and those shares being down 19% You just look across the board at companies that are in that business in one way or another And they're all taken hits They also keep an eye on shares of Penn national following the report from Business Insider about the founder of barstool sports day Courtney down more than 22% Dave Well that's what happens when you sort of tire brand in a sense too A person and then there were issues raised about that person And you know without getting into any detail the insider report does kind of look at Dave portnoy in his character And don't forget penance or gaming owns a 30% stake in barstool sports All right a very good point Dave Wilson's stock editor at Bloomberg news and Michael McKee international economics and policy correspondent Guys thank you so much for joining us live from the Bloomberg interactive brokers studio It's time now for the Bloomberg businessweek bite of the day It's one number that tells us a lot brought to you by GEP GEP helps businesses transform supply chains With strategy managed services and AI based cloud native software you can learn more.
Bloomberg Radio New York
"dave wilson" Discussed on Bloomberg Radio New York
"The Bloomberg big take about sand and money You can throw a lot at it at the coast out there on the forks of Long Island but nonetheless might not save the Hamptons All right let's get to it and the market drivers report Let's set the business week agenda in the house We've got which is we got goblins We got them all Dave Wilson stocks editor he's a warlock At Bloomberg news Katie Griffith Bloomberg news processor reporter also Bloomberg quick take co anchor also You had to mess up what would you dress up as I'm just gonna say Katy brings cat ears to work every single year I never wear them And she never wears them Do you have them with you I didn't bring them to this Okay Every year except for 2021 Dave Wilson dress up ever Well when I was a kid Oh come on I haven't done it lately Not even as Bruce Oh I could tell you a story but we'll save it for another day Chart of the day maybe can we squeeze it in Well we'll find out Okay there's a tease Help us out There's a Bruce Springsteen piece to it Of course Of course there is Okay up and down on the markets What's going on Yeah absolutely I mean look at it this way If I told you Apple came out with earnings people didn't like them in the stock was down What would you say technology stocks would be doing as a group Down Yeah No They're up I mean which shows you something right there And if you look at the consumer discretionary category where you find Amazon.com well that one would be up were it not for the loss and Amazon That's what our numbers are showing here So you know it's been a bit of a rebound from some early declines I mean you're not talking about a whole lot of movement and you're talking about a fairly even split in terms of those 11 main industry groups in the S&P 500 just 5 up healthcare as it happens leaving the way And there's more stocks down in the S&P 500 and up So it's like we're ending the week without a whole lot of direction And given the back and forth we've seen it in Annie's reports you can understand that I sort of talked about the back arguably when you mentioned Apple and Amazon If you want to know what the fourth is well there are a few examples but I like a smaller company WW Granger It's one of my gainers today Absolutely because it's a distributor that cuts across a lot of industries And to have that stock up 7 and a half percent if there are any to get your attention because we've heard so much about issues with the supply chain in this company's kind of integral Can I just apply it Can I just say October man the NASDAQ 100 is up almost 8% and the S&P 500s up almost 7% Katie it's been a pretty good month September was a bummer October was much better for the equity market Yeah it seems like it is interesting to see that the NASDAQ 100 is actually outperforming because if you look at the bond market we've seen quite a sell off I mean the SPY ETF that tracks the S&P 500 that outperformed the long-term treasury ETF by about four or 5 percentage points That's the biggest outperformance since March of this year and typically when you see bonds really suffer and sell off And those yields go to higher you would expect to see tech to follow suit not so even with you know some of the fangs I don't know if we can call them fangs anymore But disappointing this week Right exactly What about the bond market What about the bonds you can your honor Oh my God everything This week everything because you saw yields around the world doing crazy things I mean if you look at the UK you saw a huge sink in their long-term yields If you look at Canada they're two year yields searched by as much as 27 basis points on a single day this week And I mean I have a ten year now at almost 1.7 1.68 Yeah yeah So it's been a big week for the bond markets you saw a big flattening in our yield curve just to bring it back to the U.S. Well that's what's important right Dave we've got to think about where we are short term in terms of long-term yields In the long term people are expecting maybe growth will be much more subdued and this is going to be very tricky for the Federal Reserve next week We know their mandate We know what they're about They've talked about cutting back on some of the purchases They've laid that out very clearly And they seem to be pushing off when it comes to rate increases but they're still going to be in a little bit of a predicament They are ten Of course you have to remember at the end of the day why do yields go up And a lot of cases it's because economies are doing well And if the colonies are doing well then why you need to throw money at bonds the way the fed has been doing but why do interest rates need be near zero the way that they have been for years I mean these are all questions that no doubt the Federal Reserve governors and policymakers will be dealing with as they get together next week Right exactly And rates go and hire is also potentially mean the economy's getting better All right meow to you Katie I felt And you'll be back born in the USA We'll see if we got that restore in Let's see the.
Bloomberg Radio New York
"dave wilson" Discussed on Bloomberg Radio New York
"It's Bloomberg business Weeks instead of back in Carroll master live in the Bloomberg interactive broker studios also with us right now Dave Wilson because in just a couple of minutes Carol I was afraid you were going to bring him in I'm not going to bring him in I know where we get it We got a formula I'm just getting ready I'm mentally prepared I don't want to freak out red in the control room Don't worry Rhett They're like what is he doing We're not ready for him But we are ready for Charlie pellet Hey Charlie Here's what's going on We have got the Dow The S&P nez deck all advancing We are looking at records right now Just like Dave Wilson is we're looking at a record for the Dow up 55 points up two tenths of 1% S&P up 20 are about 5 tenths of 1% NASDAQ pushing higher off 142 up by 9 tenths 1% worth recapping the year to date numbers because the S&P so far this year are by 21.5% we've got the Dow So far for the year up 16.7% NASDAQ composite index up by 18.2% today As stack up by 1% S&P up now by 5 tenths of 1% the Dow off by two tenths of 1% Stocks are higher as traders gear up for a string of earnings reports from tech heavyweights including Facebook after the bell Facebook shares right now up 1.3% but investors are also keeping in mind inflation concerns and rising COVID-19 risks Madrano meanwhile says its vaccine did show a strong immune response in younger children and a late stage clinical trial paving the way for submission to regulators for clearance in those between the ages of 6 and 12 Madonna shares right now are a 6.2% Well what about the messaging out of Washington especially ahead of those vaccinations for children doctor Joshua sharfstein is vice dean of Johns Hopkins Bloomberg school of public health In general I think it would probably be helpful to be talking a little bit ahead about what things are coming And I think they've done a little better job of that as the pediatric vaccine is approached Look what I think is gonna be really important is explaining not just the decision for the pediatric vaccine but how additional data will be quickly gathered so that people who are reluctant initially are able to get questions answered Doctor sharpstein but the Johns Hopkins Bloomberg school of public health which is supported by Michael Arthur founder of Bloomberg LP and Bloomberg philanthropies checking some of the vaccine stocks that we check every week Pfizer down three tenths of 1% have strum and partner BioNTech up 4.9% those of the ADRs ADRs of AstraZeneca they're flat on the day right now unchanged Moderna up by 6.3% J&J Johnson & Johnson are by one tenth of 1% Recapping S&P up 21 points up 5 tenths of 1% I'm Charlie Pablo and that is a Bloomberg business flash Thank.
Bloomberg Radio New York
"dave wilson" Discussed on Bloomberg Radio New York
"After Andrew Thomas for Sunday's game with Carolina he'll miss at least two more games after that He's got an injured ankle John stache I want Bloomberg sports sneaky All right John thanks 6 37 on Wall Street time now to take a look at stocks some of the names moving in the pre market with Bloomberg stocks editor Dave Wilson Dave what's going on with Netflix this morning Of course after earnings Absolutely Nathan the shares are down two and a half percent in early trading The streaming video services third quarter results lack what endless called big surprises Revenue match endless average estimate in a Bloomberg survey though earnings came out ahead And Netflix had an unexpected cash outflow Put that all together Deutsche Bank cut its rating on Netflix to hold Micron Technology down 1% The membership maker outline plans to spend a $150 billion during the next decade on research development and production plants Mike Ron said the budget exceeds earlier levels and it's hoping for U.S. government help to be able to make those chips here in America Also seeing some negative news this morning for one of the vaccine makers Novavax down almost 21% in early trading The COVID-19 vaccine developers facing delays with its shot because of production issues According to Politico the report cited unnamed people with knowledge of the matter Turning back to earnings You can have anthem up half a percent need health insurance raised its fiscal year earnings forecast They have third quarter profit and remnants of past Hassan's United Airlines up one and a half percent The carrier had a narrower third quarter loss in higher revenue than analysts expected Omnicom Group though down one and a half percent the advertising agency owner's third quarter revenue only matched the average estimate though earnings top projections Trade desk up one and a half percent The online marketing service unveiled a global partnership with Chinese smartphone maker Xiaomi Terms.
Bloomberg Radio New York
"dave wilson" Discussed on Bloomberg Radio New York
"Bitcoin higher helping software company micro strategy which has a lot of crypto on its balance sheet And here with that really interesting story is stocks editor Dave Wilson Yeah absolutely What's front and center here is the idea of the first Bitcoin futures exchange traded funds And the keyword is futures because they're going to be tied to contracts that are already listed They've been out there since the end of 2017 And so when you have that kind of development I mean you see cryptocurrency move higher Bitcoin just above $60,000 today Now the question then becomes who stands the benefit and the biggest beneficiary really is micro strategy Start out as a business software maker in the past year and a half or so They have really become a Bitcoin investor In fact their CEO Michael sailor had a tweet out today say Bitcoin is the new gold And they've certainly kind of served their business that way In fact you know they spend a bit more than $3 billion on the currency they even borrow the buy some And they've made more than three and a half $1 billion on that investment In fact it's close to half this company's market value can be traced back to its Bitcoin holdings So it really has been a beneficiary Other companies are certainly going that route None of them is aggressively as Michael strategy though so none of them stand a benefit quite so much from this move into Bitcoin ETFs specifically the Bitcoin futures ETFs and the effect on that digital currency Yeah who needs to sell software after all Thank you so much to Dave Wilson for that report Coming up we get the latest.
Bloomberg Radio New York
"dave wilson" Discussed on Bloomberg Radio New York
"Our Bloomberg sports leader All right John thanks 6 37 on Wall Street time to take a look at stock some of the names moving in the pre market and the calm before the September payrolls report Bloomberg stocks editor Dave Wilson is with this morning Dave some moves among vaccine makers That's right Nathan more specifically COVID-19 vaccine developers novavax is up one and a half percent in early trading The company signed a $372 million contract for Poland's maybe on to produce the shot the agreement begins next year and runs at least through 2025 and starts up 12% This company's developing a COVID vaccine tablet and release data from a study led by duke university The results showed the pill reduced the virus is spread enhanced now the study was published in something called bio Rx IV which said it wasn't peer reviewed Okay So you're watching crypto stocks as well Absolutely because they're higher after Bitcoin briefly top $56,000 for the first time since May The exchange owner coinbase global up 1% the Bitcoin investor Michael strategy of 3% and bit digital up four and a half percent Fasten all that one and a half percent And the industrial distributor is set to kick off the S&P 500s third quarter earnings season on Tuesday Results are due the next day from JPMorgan BlackRock and Delta Air Lines Couple of insurers to watch and early trading I haven't seen much movement in the shares nonetheless Chub agreed to buy life accident and supplemental insurance units in the Asia Pacific region from Cigna for 5 and three quarter $1 billion The sale is part of cygnus shift toward focusing on health insurance some analyst calls of note Union Pacific up 1% the railroad is basically the equivalent of buy from neutral JPMorgan J.B. Hunt though down 3% JPMorgan cut its rating on the trucking company to the equivalent of self from neutral JPMorgan also weighing in on a satellite broadcaster Sirius X and it's down 2% after being lower to neutral from the equivalent of buying I should know Bloomberg radio provides programming to serious XM on channel one 19 You have Otis worldwide off 1% the elevator maker received the equivalent of a cell recommendation in new coverage at Wells Fargo The firm also gave sell equivalent ratings to three more industrial companies Dover Rockwell Automation and train technologies An allergy Therapeutics down 38 and a half percent U.S. regulators ordered a halt to the company's research on a blood cancer therapy algae and set a chromosomal abnormality was detected in one patient now the whole also is weighing on our genes peers Mac site down 9 and a half percent and select this down 20% Some big moves there from Bloomberg's stock senator Dave Wilson and as we take a look at stocks as a whole ahead of the Friday morning open future starting to move higher just a bit with S&P futures up four down futures up 47 NASDAQ futures up 5 points This is Bloomberg What With early paycheck you can get your direct deposit up.
Bloomberg Radio New York
"dave wilson" Discussed on Bloomberg Radio New York
"We appreciate that Again a big movement in the markets today Kelly Another 1% move this time to the upside So the volatility continues for these equity markets That's going to look under the hood and see what's going on here with Bloomberg's stock editor Dave Wilson What's going on as short as a lot of green You look across the 11 main industry groups in the S&P 500 and they're all higher And you do have kind of an interesting split though between the best and the worst performers materials leading the way And so you know you talk about commodity producers there and if you think commodities energy is part of that mix except there the worst performers on the day Those stocks and crude oil being down on both sides of the Atlantic may help explain why And actually the S&P 500 energy index is up half a percent which is saying something considering crude is down Mia look across individual stocks I mean there are only 24 lower in the S&P 500 right now That just how broad based the advances here Is this just buying of the dip even though we didn't actually end up with the dip yesterday but still stocks are cheaper than they were say start a September Well if you think about yesterday me what was interesting is that you know you kind of settled into this pattern in the past week or so of up one day down the next and that's where things started out S&P 500 one point was down 1.3% and then close higher So you could argue it's a show of strength and would help kind of provide some context for understanding why we're up so broadly in today's trading You know especially when what little we have in the way of earnings wasn't always well received when you saw the numbers out of lamb west and this is a company that does frozen French fries other potato products Shares are down percent after their fiscal first quarter earnings and sales came up short of analysts average estimates of Bloomberg survey So you know bit of a disappointment there And nonetheless it's moving higher I wonder how much of this market moved today is the fact that we're not going to have a default At least we took that off the government's not good The near term We've kicked that can down the road Because to me it doesn't seem like any kind of solution other than it buys Congress a few more weeks maybe Well and that's not nothing because you know if you look at money markets I mean you certainly seen some concern reflected in values of futures contracts and so on And in treasury bills as well So the idea that at least it's been put off a couple months I mean you can understand why that would be received as a positive and may well be helping things along here Can I ask you about Moderna as well You can ask whatever you like Kaylee Well I'd like to ask you about Moderna I will take you up on that Dave The vaccine makers have really been struggling really since we got the news of the merk COVID pill but Moderna in particular now you're having a lot of countries Sweden Denmark Finland saying they're not going to use it in younger people Yeah that's one side of the coin The other side of the coin is come to just came out and said they're going to spend half a $1 billion to build a vaccine plant in Africa And you talk about a region that needs that kind of investment Africa certainly qualifies I mean you know we talk about vaccination rates here in the U.S. or in Europe You go to Africa they're nothing like what they are Again on either side of the Atlantic So you know the idea of that kind of development you can understand why the stock's higher You're talking to 2% gain but then again you neither Pfizer nor its German partner BioNTech or up all that much after filing here in the U.S. for emergency use authorization of their vaccine in 5 to 11 year olds They're higher but a Pfizer up 1.8% at the moment All right so for markets reporters like yourself Dave stocks reporters like yourself this is the calm before the storm next week What can we expect next week I guess we start with the banks that kind of kicks us off most earnings periods As ever although I will say that we do get one report the day before fastenal which is industrial fasteners I mean not the biggest competition across a lot of industries supply chain Yeah no question And we've seen the supply chain issues come up again and again I mean Levi Strauss has managed to get around those issues and which helps explain why their results out late yesterday were so well received I mean the sheriffs they're up more than 8% but you know going back to earnings have vassal then that would be on Tuesday and then Wednesday things really start to heat up with JPMorgan Chase and BlackRock as well as Delta Air Lines You know I think blue jeans are kind of like soda Coke You either cook or Pepsi person I'm a Levi person As opposed to a Wrangler or Lee Right which would be VF Best I checked Okay Any preferences strong either way here I'm not sure if you should wear any pure blue jeans Okay wear like black denim which is you know is he sure to find But I do think the Levi story is really interesting Dave because they had said we are facing supply chain issues we're dealing with factory closers We've just been able to pass all those costs on And that's really going to be the question for companies across industries It's just the ability to exercise that pricing power What kind of companies are going to least be able to do that Well I mean that becomes the issue I mean you think about more of a grocery chains that will no doubt be an issue more commodity products that may well be an issue I mean Levi's has the brand name and the reputation And I should point out I was not quite correct that the business with Lee and Wrangler now belongs to a company called contour brand Those results will be worth watching as well to see if they can replicate cowboys Cowboys wear wranglers is what I think That's what I've been told So if you're a real cowboy out there on the range you're running your wranglers But the rest of us I guess suburban dads levis and lees and things like that Whatever it takes to stop Paul Sweeney does not buy his jeans pre ripped Stressed No I do not Although that's a thing And you pay for it I guess All right Bloomberg stocks editor Dave Wilson thank you so much We appreciate that We're going to have more coming up on our jeans discussion But it's 40 year birthday for Bloomberg caley It is And so we've been kind of accelerating celebrating around the office They've had some cool stuff for us today I think it's donut day And specialty lattes and things I might have to take a recon up to the 6th floor Hopefully I'll return And you know Paul lattes and donuts two things I have never had in my life But maybe You've never had a donut I've never had a donut Sarah What are we doing Oh my gosh All right let's head down to Washington D.C. world.
Bloomberg Markets
Tech Stocks Sink in Early Trading as Bond Yields Climb Again
"Let's get over to Dave Wilson. Right now. He is in the studio with a look at stocks. Dave We're not seeing a lot of movement on the index is, but what do you see under the hood? Well, I mean, you've kind of got big tack on one side and big banks on the other. That's how things are kind of lining up in early trading. So you look at what's lower in the S and P 500. You see technology Chris Apple Microsoft fitting in their communications services, Google's owner, alphabet as well as Facebook, and then that consumer discretionary category where you find Amazon dot com and Tesla's so you know, that's one side of the coin. The other side's what's going on with the banks. You know, we're seeing Bond yields move up and bank stocks kind of going along for the ride, and we should point out yesterday. KBW Bank Index, which tracks 24, the largest U. S. Lenders, broke a record that had stood since February. 2007. So it's like the banks are finally getting out from under the shadow of the financial crisis. If you look at their share prices, and by the way that KBW index is up 2% today, and we're seeing gains of on that magnitude from JP Morgan Bank of America, Citigroup, Wells Fargo and Maura's, So you know, it looks like You know, we kind of got, you know, the kind of classic on the one hand on the other going on in early trading. And what you get out of that, in terms of the broader market is not a whole lot of direction mean some weakness, But you know, the S and P 500 actually coming off its early lows at the moment. Have to have a guess. What we've seen today is another example of that trade We've seen recently. You know what bond prices trade off interest rates push higher, and that brings the NASDAQ down with it. We're seeing that again today. Oh, yeah. I mean, that's you know, sort of how things are lining up at the moment on them beyond that, though, I mean, you look at utilities in real estate, you talk about the areas most sensitive to higher rates. They're actually up a bit. In early trading. You look at their S and P index is higher by three tents for percent. So you know that's kind of uninterested contrast and you know, they kind of puts them in the metal, arguably between big tank and big banks and big tech
Bloomberg Radio New York
"dave wilson" Discussed on Bloomberg Radio New York
"A record close right now the S and P is a 38 62 now pushing her. They're up. 267 points up 9/10 of 1% NASDAQ Up 120 That is a gain of just about 9/10 of 1% 10 year. Yield. 1.13% Now Gold is down. 2.3% 17 92 the ounce silver Tumbling 2.1% West Texas intermediate crude up now by 1%. 56 26 for barrel of West Texas intermediate crude Netflix shares up more than 3% on news that the company's raising the price of its service in Japan, bolstering revenue in an increasingly key market for the streaming giant, Re capping as some P pushing higher up 32 right now up 9/10 of 1%. I'm Charlie fella that there's a Bloomberg business Flash. Yes, indeed. Thank you so much. There's your market, said it. Carol Master Tim Stankovic in our interactive brokers studio. Let's bring in the team. Let's set the Business Week agenda on this Thursday. My quickie with US international economics and policy correspondent at Bloomberg News on the phone in New York City, Dave Wilson stocks that are Bloomberg News on the remote access from New Jersey. We're going to get a bit more on that rally in just a moment. We've got some interesting questions for Dave. In the meantime, now, Mike, it's your day It's Thursday. It's weekly jobless. Yeah, it's not very exciting this week. We did have don't understand Mickey. It's a little bit of an improvement, but it's sort of like saying one teams up 49 to nothing and they give up a field goal. I mean, we went to 779,000 initial jobless claims from 812 So, Yeah, it's an improvement, but we're still more than 100,000 above where we were at the worst part of the great recession. This is still in labor market. That's in a lot of pain, and people are still losing their jobs and filing for benefits. We always caution that the number itself may not be completely accurate because of father double counting, but it is still a very big number, and it is still a problem for the labor economy. Mike does offer any sort of preview for how you may be thinking differently about tomorrow's numbers that we're expecting. Now, this is last week, the jobs numbers were come out. You know the job surveys taken the week that includes the 12th and claims were elevated then, but we've had some other better news since then, including both of the Iast EMS, the manufacturing and services. Suggests that hiring picked up in January and also the ADP numbers were much higher than anticipated that none of those air particularly good predictors of accurate number, but it has caused economists to raise their forecasts. 200,000 jobs We also have a seasonal effect. They're in November and December. You hire a lot of retail workers and truck drivers on they may or may not come off the payrolls this month if they were actually there because of the Forbid firing, so it's gonna be a little bit of a hard report to read. We're gonna talkto Carla get Donna tomorrow, but he's already got a preview out of the jobs report said the job's decoder decay, meaning we're going to see that divergent track in tomorrow's employment report. All right, Dave Wilson, You've been so patient Come on it on Today's rally. What a different week. It is. Yeah, really is I mean, you know what's interesting today may be the most telling sign of how much strength there is this stocks right now, you know, you look at the worst performers on the day and the S and P 500. You see a couple of chip bankers. They had results out late yesterday. Qualcomm. About 9% biggest drop in the S and P 500 not far behind Corvo down more than 5.5%. And yet when you turn to the Philadelphia Semiconductor Index, it's actually higher. It's just that kind of a day mean 10 of the 11 main industry groups in the S and P 500 or up the one exception being materials. And there you had a couple of disappointing results, namely, out of International paper and air products and chemicals. So there's certainly some cases in which companies haven't delivered. But then the flip side, you know, you look at the likes of PayPal and eBay. Their shares were up close to 7% in the wake of their results from late yesterday. People liked what they saw there, and there are few other examples like that. Russell 2000, totally outperforming other indexes that we're looking at right now, Um, Dave earlier this week. If I recall, there was a chart that you sent focused for your chart of the day on the Russell 2000 losses being seen is just a start. Yeah, well, what's going on here? How things sort of work out? You know, nobody's perfect, I guess. But one thing you could say is that what we're seeing today is Maurin line with what we saw late last year and early this year. You know, now, with Russell up almost 2%, you know, look at 2020. I mean, it's up 11.5%. And that's you know, close to four times as much as the S and P 500. So you know, we have seen that kind of shift. If nothing else. It's a pause the last few days and today it seems to be coming back on here. Yeah, small cap, so You know, really playing catch up after a few years of underperformance if you go back a ways, Michael Key final thoughts when you look at that, as you said, we're getting some data points that maybe start to think or make us think that things were getting better. And I put that out there with the context of the president trying to put through another covered relief package. Do we still need it? Based on the statistics? You're seeing Yes, Definitely. We have another when you look at the nun, seasonally adjusted numbers another million people filing for jobless claims this week or this last week and Those people are still probably going to be out of work from the middle of March and in the middle of March. The extended unemployment benefits run out, so we still need a lot of help for the economy, and they're all kinds of industries, particularly in the service industries. Where jobs have just gone away. So people are gonna be without work for a long time and the economy is going to be struggling, will see growth rates on a percentage basis, but they're strong, but we'll be way off where we should be in terms of GDP on in terms of output for quite some time. All right. Good. Leave it on that note. You guys. Thank you so much really appreciate it. Or Michael McKee International economics and policy correspondent at Bloomberg News on the phone in New York City Day. Wilson's gonna be back in a bit later on with his new chart of the day and his stock of the day he stocks editor. At Bloomberg News. So how's your day Been going? It's been going well, but even talking about we've been talking about a lot. You know, I'm excited. Tonto speak Torun Friends at Bloomberg Business Week. Pat Rig near We had him on the show on Quick. Take this story so fun and Joel Webber's gonna be joining us, of course, mortar Business Week editor. It's all it's this'll story does such a good job of like, you know, weaving everything that happened in the last 10 days together right and also contextualizing it when it comes to market history and how this is different from what we saw in the nineties, right? That explains how it kind of came to be. I mean, I really loved it. It's like because I do think feel like the last couple of weeks. The last week we've been all You know, racing to understand the platforms, the chat rooms. You know what's been going on. What? How come the platforms had problems and then the clearing houses and like he really puts it all together beautifully. And there's of course, the terms that have dunk stocks. Then you know, 10 days we can ask him about, but that too. Yeah, it has a chicken tender. Connection. I'm just gonna put that out there. What else we've got? Bill Bratton coming up. Former and my C in Boston Police commissioner, Former chief of the L. A Police department will talk security at the big game. The Super Bowl. It is this week. Normally we would be at radio row or we might be at radio row Do too, But I know it's virtual kiddo this year. Oh, yeah, well, that's gonna happen, Okay. We'll have to wait till next year to do that. Exactly exactly, especially when it's in a more in place like Florida. All right, let's get to the Bloomberg Business Week by the day to them..
Bloomberg Surveillance
Amazon stock rose 2% in Wednesday's premarket
"Stepping down as CEO of Amazon, ushering in a new New time for the e commerce and tech giant equity futures. They point to a mixed opening. With the tech heavy NASDAQ leading the way in positive territory. Volatility pulls back the vics is just above. 24 right here. Treasury yields they push higher with a 10 year at 1.12% on the commodities front. Deputy I inches higher north of $55 a barrel Bitcoin. Higher once again now $36,600 per coin. Let's call it. Let's get some more color on the premarket equity trading with Bloomberg stocks editor Dave Wilson David he looking at well, since you mentioned Amazon, Paul, we must will start their shares her up 2% Aziz. The management transition begins at the online retailer basis is going to be succeeded by Andy Jassy, who runs the Cloud computer unit. Amazon Web services. Bezos will be executive chairman should point out to Amazon's fourth quarter results, beat analyst average estimates and Bloomberg survey.
Bloomberg Radio New York
"dave wilson" Discussed on Bloomberg Radio New York
"In the pre market this morning with Bloomberg stocks editor Dave Wilson another very busy morning for earnings, Dave Absolutely, and it's already started with energy companies. You've got BP shares down 4% in U. S trading. The U. K O a producer is lower after reporting fourth quarter results adjusted Ernie's tumbled 96% even more than analysts expected in the Bloomberg survey. Now Revenue trail projections for the third straight quarter. On this morning before the opening Bell will get results from two U. S based on producers. Their shares are actually higher in advance of results. ExxonMobil's one of them up 1.5%, the companies poised for eight straight quarterly drop in profit and revenue, based on the average estimate because just yesterday, the Wall Street Journal reported that the CEOs of Exxon and Chevron talked about merging their companies last year. Conical Phillips hired by three quarters of a percent, and it was expect earnings and sales to have fallen for the seventh quarter in a row. So the energy industry certainly back on his heels. Still back in focus this morning. How about an update on the retail frenzy? We've been reporting their signs. It's cooling this morning. Absolutely, Nathan. I mean, I have to do is look at the silver mining stocks there, slumping after a three day search, driven by Amateur traders active on the social media site, Reddit, You've got cur Mining and hecla mining down 9.5% and got two silver down 10% in early trading. And then you on top of that, on in the stocks soared last month, already driven trading their lower too. I mean, even more second David clients for most of them. You've got game Stop down. 30%. You got AMC Entertainment off 23% expressed down 18.5%. On And the drug distributor McKesson After the close today, amazon dot com and Google's owner alphabet ER do out a couple of companies that fell in response results. Serious logic down 6%. The chipmaker's probability forecast for the fiscal fourth quarter came up short of estimates. And finally Harley Davidson. You gotta love the ticker hug, not loving the stock, though. Today it's down. 10.5%, the motorcycle maker, posted an unexpected loss for the fourth quarter. Sales failed to meet projections. Bloomberg stocks editor Dave Wilson Yeah, we know it's going to be very busy day for you once again, thanks for a look at what's happening in the premarket want to pass along a couple of red headlines across the Bloomberg terminal. While we were speaking, Bumble sees its I P o pricing at 28 to $30 a share and Ferrari reporting earnings that beat estimates and providing it out. Look, that's in line with estimates. Futures moving.
Bloomberg Businessweek
Fed Holds Policy Steady as Economy Stumbles
"Learn a bit more about what we got from the Fed, joining us. Kathleen Hays, Global economics and policy editor at Bloomberg News. She's here in our New York City bureau, along with Dave Wilson, stock cetera Bloomberg News on the remote access from New Jersey. So Kathleen, I feel like steady, she goes, We know pretty much what we expected from the Fed what we expected, and that's going to be very reassuring to the markets. Because there has been there been comments made in the last say two or three months by a handful of Fed officials that depending on the economy, they could see that that's starting to taper its bond purchases in the second half of this year. So what they said today I think, Let me grab another headline here. That is very important. The Fed repeats. His policy statement that it's buys its its bond buys will continue until quote substantial further progress and I'll add to that headline has been made because this is language. They've added recently to underscore that they want to see not just the moderating economy and job market they mentioned which were what you were just reading from the headlines. They want to see not just inflation, starting to move higher. They want to see inflation at 2% and above. They want to see Ah lot better job growth. They want to see claims coming down and Kathleen. They're willing to let it run a little bit of hot. We've heard this a lot from Jay Powell and company that because because they want to see and make sure that the economy gets back on a firm, two things here number one you got left around. Hot, I think is the idea to ever even have a chance in wrecked and you know where. To get inflation above 2% H e double toothpicks is there you go, baby. And then the second thing is, you know something they even added. It's a small thing, but it means a lot. I think when they said that the economy's path will depend significantly, they said, not just on the crown of fire itself, but also on progress with inoculations. That's another word for vaccinations, right? So they're very hopeful as many people are that the vaccine rollout will go quickly. When I spoke to Lord investors, President Clinton Kansas City Fed A couple Excuse me. Cleveland Fed Sorry, Loretta story yesterday on straight there you go on now two powerful women there don't want that. They're fed banks mixed up. But she said she thinks by the third quarter will have not full vaccination, but so much of the population will have it that that's why we're going to start seeing a really strong rebound. To the economy at the press conference, J pal, That's where two be listening for I think one more interesting thing I've been thinking about the last couple of days. If we start seeing that strong rebound, and there's all this like another, maybe $2 trillion of stimulus being debated, you know, one of you will have in the middle here is Janet Yellen and she has said Right now, you gotta act big. You gotta act now. But I think this is a very interesting question that Republicans will probably raise. Look over getting ready for a big rebound. Do we really need to spend that much now? I hope that's another question. A J. Pollock. It's asked today
On The Ledge
Springtails: Nothing to be afraid of
"The first thing to say about spring tells is that probably not something. The yoga sports on the lease of your plants. They like moist places. And that means you most want you to see them on the surface of your soil particularly if you've just watered or perhaps if you lift up apart and look underneath inside a cashpoint possibly you will see lots of little creatures roaming about. They're about the size of a full stop and there are hundreds if not thousands of species. I think there's about two hundred and fifty different species of spring tail here in the uk so as well as into the in your house plant pots. You might also find them outside. You'll compost heap or in part of dump leaves on the characteristic that gives them their name is their ability to spring. But don't get them confused with fleas. They are different creatures. And do not have the capacity to blunt. You or your pets or indeed. You'll houseplants these are really agent creatures. Apparently there are fossil's of spring tales. Going back to four hundred million years ago the know insects they are heck supports which means they've got six legs. I've said that detroit officials while that means they feed on any kind of decaying matter in the soil. They also feed on fungi and algae and that sort of thing so they serve a wonderful purpose in breaking down organic matter. The thing that makes the spring tale jump is called for keeler earned it is of wishbone shaped appendage kind of detail that sits underneath the spring tales belly and when it's surprised for example by you lifting up the port where. It's been hiding this little spring flicks up and propels the spring tail into the air. And apparently this leap is the equivalent of me jumping over. The eiffel tower says pretty impressive. I'll link in the show notes to a wonderful video. Featuring sir david at bra or should i say our lord. God david attenborough talking about spring tales. The column bola class as they unknown and showing how they actually go about springing. It's really amazing to watch. They also have an amazing cheap on the head which they use to moisture is their body basically they have to stay moist in order to survive and most patches of ground on all seven continents of the world will contain about one hundred thousand spring tales per square meter wells' so they are everywhere and there isn't really any great reason for concern if you see and the old spring tail in your soil or under your parts. Because they're gonna go somewhere moist. They are breaking down organic matter. It may be a sign that you're a little bit to dump if maybe you're seeing spring tales in the soil of say cacti and succulents but if you seeing them in the soil of the plants in you've just watered or you're lifting up a part there some there it's really not something to worry yourself about. Just take a look at those tells on wonder at how amazing they are. The other thing to note is that they do mainly wonder about that. Jump everywhere so if you see some small creatures about the size of a full stopped moving around not necessarily jumping the could very well still be spring tails but if you disturb them you may find that one or two will jump and the color very say anything from very dark gray to white to brown. But as i say. The main indication is their location if they are in that soil and they're not doing anything with these. If your plot unusually the location of the creature gives you a really good indication of what it is if it's white and fluffy and in the crevices of your succulent than it's probably a mealy bug if it's a white and fluffy and it's in the roots of your plant while check it carefully. Because it could be micro rizal. Fungi strands but it could also be mealy bugs again. Your hand lenses really useful here. If it's something on the back of your leaves are white grainy stuff. That's probably the shed skins of your spider mites. If you've got really good vision or use a hand lens you should be able to see the brown crab like spider mites wandering around aphids. Well they usually tackle the new soft growth on plants often find them on. Flower stems or on new growth of leaves and thrifts well. They don't look that much different than spring tails but they are bigger and generally you'll find them wondering about your plant leaves as opposed to on the soil and if he wants to get a closer look at the spring tales in your life. Then dave wilson has written an excellent book called the garden jungle or gardening to save the planet which i highly recommend has a good technique to suggest for gathering some up. Dave suggests that you get some compost or leaf mold or indeed the material that's in your plant pots and put it into a funnel under warm lamp sick that funnel on top of some kind of container and the spring tails will head away from the heat and into the container and then you can take a closer look at them a fun activity if you have kids or grandkids to entertain this festive season
Bloomberg Markets
Carnival shares rise even as cruise company warns of ‘material’ COVID-19 impact
"Reporting cannot keep a good market down at the nasdaq up a half a percentage point to doubt nine tenths of one percent and nasdaq up a half a percent to see where the action is underneath the hood return to bluemix accented or Dave Wilson they will look at this morning well what's interesting about today is you you get companies talking about the effect of the corona virus on their business and their shares go walk and he'll look at carnival look at the cruise lines more generally carnival saying that canceled voyages in Los bookings because the corona virus will have a material impact on results no material that sort of standard accounting terms when you got to talk about what's going on and yet the shares are higher by close to three percent wrote Caribbeans up Norwegian cruise line is up another one is PVH I mean that's Calvin Klein Tommy Hilfiger or and you know they had to close some stores in China no surprise a lot of companies have they also get some of their apparel from China so you know when you put it all together they're real farming their earnings forecasts for one's really now it's an estimate for their latest fiscal year and you know they haven't really kind of express a lot of concern about what's ahead so you see PVH shares among the top performers the S. and P. five hundred or a five point seven percent so really looks like one of those days where corona virus at the very least we seize into the background as an issue for companies when it comes to work doing business or perhaps people are just getting a firmer sense of just how vast the liability will be I mean perhaps this is just an issue of perhaps stocks would be even higher and much higher at that if it weren't for the corona virus worry are we getting any sense of of how much of a dampening effect it's had even as we reach new highs well at this point it's kind of hard to see how much of an affect there might even be in the he'll look at how we're doing this year you know you see the S. and P. five hundred up close to four and a half percent the nasdaq higher by almost eight percent today I'd say I just you you can set price alerts on your Bloomberg terminal is set up to with them that are going to be Sir interesting milestones thirty thousand for the Dow industrials it's a twenty nine five hundred almost at this point and ten thousand for the nasdaq composite which it is just below ninety seven hundred right now it just goes to show you you know as this advance keeps calling it almost eleven years into a ball market and me here you're definitely up against some
Politics, Policy, Power and Law
Markets provide an unambiguous signal that investors expect recession
"Markets from members Dodd Chris Dodd yeah trade does remain the key focal point for markets Kevin this morning the White House said there have been calls between a trade negotiators for the US and China and then earlier president from saying we're doing very well on that front the latest round of terrorists from both sides due to be staggered beginning Sunday Bloomberg economics analyzed about seven hundred thousand data points for trade and it appears as though the U. S. is going to be the big loser in that act passed then or begs the question will there be a recession here in the U. S. fed bank of New York indicating there are more than a thirty percent odds right now that happening over the next twelve months look at the yield curve seems to confirm that notion we've got a U. S. ten year treasury at one forty six a two year now at one forty nine in spite of all this the equity market is trading higher energy shares moving to the upside today they're following the price of crude to the upside given a bigger than expected drawdown in U. S. crude inventories W. T. I. in New York trading up that fifty five ninety with a gain of about one point eight percent let's take a closer look at the equity trade Dave Wilson is here Hey Dave Hey Doug and looking at the eleven main industry groups in the S. and P. five hundred nine of them are higher utilities and technology of the exceptions in terms of individual shares there are more than four up in the S. and P. five hundred for everyone that's down the index's biggest game belongs to simmer rex energy up nine point four percent the show producers rising along with the point price of oil which reached a one week high in New York trading of data compiled by Bloomberg show similar acts as the indexes third smallest company by market value movie owned Cody is up four point six percent the cosmetics seller said expects this fiscal year to bring mid single digit percentage growth in earnings per share in higher free cash flow Cody's fourth quarter results were in line with estimates yes in the five hundred steepest drop belongs to auto desk down eight point nine percent the design software makers profit sales forecast for this quarter trailed analysts average estimates and Bloomberg survey on a test also cut projections for the full fiscal year and Johnson Johnson is drop one point seven percent movies indicated that the health care company could possibly lose its top credit rating of a double way moody's revise its J. J. outlook to negative while keeping its rating unchanged for now thanks to Bloomberg stay Wilson on the equity side we have the Dow up eight tenths of one percent S. and P. five hundred higher by about five tenths of one percent and in the nasdaq market the composite index is up four tenths of one
Bloomberg Businessweek
Global stocks eke out gains on flickering trade hopes
"But first let's set the business week and gender the boys are here Joe weisenthal markets editor for blood work and the co host of what you miss that's coming up at four PM all three time NBA TV and Dave Wilson are stocks editor the author of the chart and stock of the day with us throughout the show Joe want to start with you it obviously was a busy weekend yeah headline Weiss and so you come in on a day like today today you sort of see a more positive traits certainly more positive than what we saw on Friday what do you make of the news for what people were extremely confused this morning because there was trump saying that the Chinese had called him China didn't confirm that then someone who Chinese media figures at there there were calls but they're very low level of technical trunk came back and said they were the highest level by and large I don't think people really believe trump that being said the fact that he was saying it I think people interpreted to be a little bit he wants to get something done and I think it is there is a point of market volatility that curbs him and so you even so last night I thought was interesting he tweeted sick by the way when you look at my stock market performance you just heard from the election and not inauguration day which I read is him being a little anxious about the market volatility in remember on Friday during a selloff he joked about the volatility is like this is because I said the molten is jumping on the president's right which was funny but also kind of indicated that like I laughed but it was like I don't really care but then by Sunday night he was like and check kind of care and so there is a point where the stock market does sort of seem to curb his impulses a little bit so we're now we've not pull back about five percent more than five percent of the Dow and the S. and P. from their high stable so come on in on the trade what does it tell you kind of about the health of the market and how the market is reacting tweet by tweet if you well well I mean we're see what we've seen now for a couple weeks in August in training does tend to slow down you've you've gotten past the second quarter results there isn't much left as far as that's concerned you know the dollar store chains dollar general dollar tree and a few others this week but things are pretty well set as far as that goes analysts looking for third quarter decline in S. and P. five hundred profit we won't really get much were read on that for another month and a half or so the new growth that they're expecting contraction there as well not an outbreak contraction but slower growth you know more like three four percent so that's the backdrop and really I mean you just say get bounced around from day to day with with all the back and forth on trade and interest rates and whatever else you care to name but it doesn't necessarily suggest the market has a whole lot of direction here I will they say though I mean this is something I was talking about last week then you know you look at smaller companies and in effect they want for a bear market in the second half of last year and the S. and P. five hundred barely skirted one if you look at the twenty percent decline as sorry a reference point so you know what it is really hard to say definitively that we're still in a bull market here in what was seen lately calls into question even more and Joe we're gonna get into this later on in the show I mean what do you take away from the G. seven especially easy trying to assimilate everything that's coming into the news desk both from France from our colleagues and Washington and even from our colleagues around the world what what's been the sort of the big take away and leave out the tweets about the lives okay that's yeah you know there's a good good I think there's a few different things but I think as we've seen with previous sort of multi lateral meetings of heads of state it's always kind of like the trunk plus six show yeah right Hey is sort of how I think about it he tends to like you know he turns on the charm a little bit it's a weird Trumpy in Sharm that's not conventional yeah we always talk about how good his relationship is with though right and Trudeau intimate Cronin then you read these stories afterwards about how horrified right one was any so obviously we're we're the interesting thing about this one is all these other countries feel like they're kind of at the whim of his moves especially on the economy because everyone's gonna get affected Germany is affected by the trade war you heard Boris Johnson saying you know we would prefer trade peace to be honest even other heather ally so I think there is this sort of five right now where his actions particularly on the economy a really leaving them all feeling kind of a helpless and vulnerable and just sort of hoping he'll change course in some way but I don't know if that system well there's one thing that you need to know today at this Monday on it's been a busy Monday already day what would it be that's a heck of a question now let's say delay fresh off about deal making is alive and well yeah I like that I mean because you got this thirteen and point four billion dollar deal on the drug industry this arises treatment taz well owned by Celgene being solved and Jan so cell gene can combine with Bristol Myers and all the stocks are up to seven inches is looking like a win win win your time at some of the biggest gains in the S. and P. five hundred Celgene Bristol Myers ends and all of more than two and a half percent they can't say that for all the deals that are out there there are a couple you know smaller companies making transactions that are going over so well but you know you still got things going on couple little low energy company shall produces out of Colorado get together and their shares pop yes how about PVC energy which is up sixty percent S. R. C. energy up more than ten and a half percent so you still got that even at the time you know when you ordinarily would be thinking about the dog days of August yeah dog days indeed Joe weisenthal anything else top of mind for you for the to get on with your day you know I just there's a headline that just moved biggest monthly drop for ten year yields in slash house in fifteen it's so I think that's pretty pretty extraordinary way to put a cap on put a cap on what we've seen just this incredible bid it feels like it's slowing down a little bit but ma'am yeah that's not even over yet it's been it's been quite a few weeks sleeping I was sick from afar newspapers going online to do stuff all right why isn't all thank you so much they will send him back
Bloomberg Surveillance
Online sales grow 25.7% at Dick's Sporting Goods in Q2
"As we end up the week on a Thursday SMP up six Dalip sixty four Bloomberg stock senator Dave Wilson joins us Brighton early day would be seen in the market pre market here well the one stock that jumps out in early trading is Nordstrom is higher by almost nine percent the department store chains earnings for the fiscal second quarter beat analysts' average estimate a Bloomberg survey the even those sales came up short Nordstrom benefited from efforts to cut costs you know another retail of the tune pretty well in early trading Dick's sporting goods up about seven and a half percent the retailer posted the fiscal second quarter profit revenue that beat as was and raised forecast for the full year and since we're talking retail retail we can throwing BJ's wholesale club up ten percent fiscal second quarter profit at the warehouse club chain top projects as though sales came up short for the first time since BJ's went public last year okay all
Bloomberg Daybreak Weekend
Verizon, Apple And Qualcomm discussed on Bloomberg Daybreak Weekend
"It's another big week for earnings as quarterly results rolling for apple Verizon and more let's turn to Bloomberg stock market columnist Dave Wilson Dave I saw a story that said apple suppliers see good things well how about that you know the possibility that the people are going to buy lots of smartphones it's certainly out there although the apple is pushing this whole transition in the services trying to go beyond the hardware business as much as they can you know because let's face it the you know a decade or more into the smartphone era it's like a harder sell especially with apple not having any new models at the moment you know maybe they'll have some in the next few months but even then you perhaps people we looking ahead toward the next generation of wireless technologies five G. service that is being developed at this point is as perhaps a a real catalyst for their sales so in the interim it is really about trying to build the business that they have at this point and and try to build up things like like a software and and and services you know and and really make money there five G. how does that affect Qualcomm well yeah it's a whole transition of course you know that company stands to benefit yeah as the systems get rolled out you need new equipment you know they're there it's certainly out there as a maker of chips for those systems one interesting point though there was a report the other day that apple was interested in Intel's smartphone modem chips business now you know it's just a few weeks ago that you know apple in qual com got over their issues related to patent licensing fees and here apple is looking at perhaps buying a company that's been a supplier like qual com so you do have to wonder how that will send him comes together in terms of where the business is headed from
Bloomberg Daybreak Weekend
Dave Wilson, Sarah And Bloomberg discussed on Bloomberg Daybreak Weekend
"Week this weekend marks the tenth anniversary of the start of the bull market for more or less. Welcome bloomberg. Stocks reporter Sara Pontic and Bloomberg stock market columnist. Dave Wilson and Sarah. Let's start with you about the ten year. Anniversary of is this gonna go on how much longer it's possible. We often hear that bull markets don't die of old age. And yes, the bull market will. Now, officially be ten years old. This is the oldest bull market. But we also often hear that it is not the strongest. It's not the most powerful if you look at their return or the price gain of the S and P five hundred I should say more than three hundred percents since the bottom line. However, if you look at the nineteen nineties we saw the bull market increased by four hundred seventeen percent at its peak. So some people look at back comparison and say as long as we don't have a recession as long as earnings don't fall off a cliff, then we could keep going, Dave. What about it is it possible that we could just sort of lumber along for a while? Anything's possible. The point about recession though as well taken. It's one thing that analysts appointed to over time. What kill the previous bull market back in the two thousands while peaked in October two thousand seven in by the end of that year, the economy was in recession. So you can look back over time and see similar sort of correlations. You might say between the state of the economy and the state of the stock market. So that becomes the issue in terms of trying to figure out where we go from here. Now, there's concern among analysts you may get an earnings recession two cores declines in profit for the S and P five hundred haven't heard as much though about the possibility of an economic recession, which does suggest at least that stocks have some room to keep rising here. Sarah. Normally we look ahead, but tell me some of the interesting highlights of the past ten years. So what is very interesting L P L research pointed this out is that if you look at this current bull market, it is actually the. Only one ever to exist with two twenty percent or more declines on an intraday basis. Now, of course, if that had been on a closing basis, then that would have been the end of the bull market, but we always had these bit of it intraday rally and that saved us because we never quite close twenty percent lower. So I thought that was very interesting back just because when people think about a bull market that has healthy corrections. We have had corrections of about twenty percent just when you go with the definition of a market having to close down twenty percent. We haven't quite hit that threshold. We should back up and say twenty percent is really a rule. That's not by any means, an absolute in fact, there are people who will tell you that the bull market rain right now, then actually starting two thousand nine because we have the decline in twenty eleven that was more than twenty percent on an intraday basis. You had a similar one in the fourth quarter last year when stocks hit bottom. On Christmas Eve. So you can talk about definitions all you want. You can say though, that, you know, over time we've seen stocks move higher refer to what they call secular bull markets, and we're not talking about secular versus religious here. We're talking about markets that go through cycles and nonetheless have a direction that can last ten fifteen years. And when you look at things from that perspective still a bull market for. Sure. We'll sarah. Would we talk about those little corrections that have happened along the way could that be the new normal that could possibly be the new normal? And some people also say that it is very possible that the high that we saw back in September could have been the end. Of course, we don't know that yet. There are many people who still are saying that we could easily take out those highs. But we are seeing a bit of a pause in the stock market rally. We did see that this past week. But many people do say look volatility is back vol. Until it is here to say, even though the vix has been very very muted this year. But the reality is that we will probably see more healthy corrections or more damaging corrections. If the fact of the matter is that September was
Bloomberg Markets
Nvidia shares turn positive after Citron buys stock
"Of conviction because if one short seller. Yes, I'll be at who has had a pretty good track record if one short seller. Recommends buying this? They've that sends a sock surging that much. It just show you how how sort of skittish people are just trying to find another stock making a move higher. I would add snap that is up about one and a quarter percent. Also, Salesforce dot com up one and a quarter percent joining Invidia, which as you said up a four and a half percent. Although if you take a look at the rest of the market for example, apple shares down three and a half percent. Now, really interesting to see sort of the volatility and to Dave's point earlier. Dave Wilson Oliver sacks editor and columnist. He was talking about how volumes have actually been very high today. So this is not coming on just volumes. Correct. Now, let's turn our attention to the world of emerging markets. And joining us now to help us understand whether they are an investment you want to participate in is
Kevin and Bean
Bloomberg, President and United States discussed on Kevin and Bean
"It just don't know when it's going to blow up in Greeley about making money in the sense that many people think investment, I fear that we are starting a multi decade bear market in bonds. For more volatility in the markets. Probably maybe a healthy thing. Bloomberg surveillance. We've John and Pimm FOX on Bloomberg
On Air with Ryan Seacrest
Ulta shares hit 52-week high after retailer says Kylie Cosmetics in stores by the holidays
"Stocks columnist. Remember send Dave an Email at dwilson at Bloomberg dot net you, can sign, up for, his free Email newsletter Dave where do you want to begin Ulta beauty shares are up seven percent or maybe you wanna talk a little bit about apple they're one. And a quarter percent or gopher Lululemon perhaps Coca Cola you choose there are lots of choices you wanna talk about Kylie Jenner why not Kylie Jenner the cosmetics line hold. On a second Dave yes I want to. Hear you talk about Kylie Jenner, you follow. Jenner do you get tips. Heck no do you now. But it, be. Fun if I did clearly a lot of people do. Though because to Ulta beauty has
Bloomberg Markets
Bloomberg, Dave Wilson and Hewlett Packard Hewlett Packard Inc. discussed on Bloomberg Markets
"So joining us to break all of this down is Dave Wilson are stocks editor here at Bloomberg news. In Vince Cigna rela is our global macro Strategist for. The Bloomberg macro squawk Dave quickly I'm just going to start with you because we're looking at record. Highs on all of the majors I've seen here on the s. and p. the NASDAQ the Russell. What is behind this well you've got some well received earnings. Reports and you can look at the likes of Autodesk. Which does design software spunk accompanying I just like the name. There, the data analysis business in terms of, their software both these companies out with results late, yesterday Autodesk up fourteen percent spunk Up almost sixteen and a half percent and you can find enough of those kinds of stories. For stocks, to do well here and it's. A pretty broad based advance were seeing you look at. The eleven? Main industry groups in the s&p five hundred you see consumer Staples beverage tobacco little. Changed everything else, though is higher in terms of individual stocks you what could it four to, one gains, versus losses in the s. and p. five hundred so you, know people, just must be feeling good at the end of a an August week you know. As they look ahead to next week and a holiday weekend of, course we should point out that you really, did see. Starts stocks start to pick up once we heard from fed chair drone Powell out in Jackson Hole Wyoming people like what he had to say I guess
Bloomberg Markets
Sen. John McCain to stop medical treatment, family says
"Senator John McCain's. Family is saying that the Senator will discontinue medical treatment, this comes more than a year after he was diagnosed. With brain cancer the Arizona Senator has been battling the onus. For months and now just according to the McCain family. The Senator will discontinue
Politics, Policy, Power and Law
Kill quarterly reporting? Some investors ring alarm bells
"Earlier today President Trump. Tweeted that he's asked the SEC to study ending quarterly reporting. For US businesses to quote allow greater flexibility and. Save money Morgan Stanley CEO James Gorman voice support for the idea on Bloomberg today I think quarterly reporting and to Buddha plumbing I, think it's astronaut Everything links and by the way quotas come. Around with alarming frequency I've been, trying to get this. Thing to stop but at least you know this is one. Thing the Brits definitely have. Figured out, with the six months, reporting joining, me is Peggy Collins Bloomberg news US investing team leader so Peggy it seems, natural that corporations would welcome getting rid of two reports a year but what are, the? Dangers couple of the dangers are that investors have less transparency right so we've seen this in the news, of late with de LAN musk saying he might take tesla private and one, of the reactions that we've had from shareholders our shareholder activists are is that will you're not getting as, much information and in terms of what the company's earnings might be. What their executive pay is to influence whether you buy or sell, the other potential is that when companies are in the dark more there's, more potential, for them to do nefarious things such as insider trading for example and for it to be. Harder for people to spot or for companies to be More worried about doing it in the first place because they might get caught So what are? Some, of the less obvious advantages to corporations besides just not the extra work well. I think as you said the extra work and also costs for smaller companies and number of the clients that we've heard is that with all the regulation today and the requirements of from the SEC of reporting that if you're a smaller company, that's a big burden and therefore. There's more and more smaller companies that say I'm not going to go public I'm going. To stay private because I don't want to have to do all those things so that's one of. The things I think another point is that we've talked to some people today you said it could make financial. Analysts more popular valuable because they are supposed to be talking to, companies regularly and so if the public has information on a less frequent. Basis they, the financial analysts who put out reports. Could be become more important so. Peggy this was released by the White House I to clarify President Trump's tweet it says the president is interested in examining this issue on whether Sean Short term. Earnings reporting requirements for public companies reduce incentives for them to engage in long term investing in? The, United States a part of the administration's ongoing regulatory reform efforts so it put. It in that context does that give you more insight into what he's looking for something definitely the I've been hearing over the last few years covering a variety of investors and family offices that investing companies in the US that aren't public a, lot of family owned businesses across. The country and one of the things that we've heard repeatedly is that companies are saying. You know what if we're under this pressure every quarter to hit certain numbers in order for our. Shareholders and the stock price to be in the limelight in a good way that prevents us from sometimes putting. Money into research and development efforts that would actually benefit the company, over the longer term so I'm not going to go public I'm going. To take, some private investment money so that way. I can spend some more money. In the shorter term on the long term value of building another plan Or or doing some research on technology, for
Bloomberg Markets
Turkey's Markets Plunge Into the Unknown After U.S. Sanctions
"It filed for bankruptcy protection from its creditors and Turkish markets plunging today deeper into the. Wild on president at. Sanctions imposed by the United States, its NATO ally of added to, the cross currents buffeting investors they of already, been despairing policymakers failure to contain inflation, and stem the slide in the lira under. Pressure from president one to bolster growth recapping. US equities, higher across the board with the s&p up. Fourteen of five tenths of one percent I'm Charlie Pellett and that is. A Bloomberg business flash Thank you very much Charlie Pellett art it's, time to bring in, Joe Weisenthal our markets editor for Bloomberg news, also co host of what you miss yes. Every weekday every trading, day three. Thirty PM Wall Street time, only on Bloomberg television and you can follow Joe on Twitter at the stalwart also joining us in studios Dave Wilson Bloomberg stocks editor and you can follow Dave on Twitter at the one Dave all, right Joe Weisenthal post Federal Reserve meeting no change in interest. Rates for the United States but a change of interest rates for. The United Kingdom from the Bank of England is, that relevant to what, you're, looking at today I mean the thing is about the Bank of England is that it really. Only affects the, UK when we talk about central banks Having an influence on global market is usually the via we and the b.. O. j. and the fed, but I still think it's interesting that the. Bank of England hiked not. Because it's gonna, have any ripple effects outside of outside. Of the market there but because for. Whatever reason central bankers seemed to really like hiking rates and the proof. Of, that is that it's hard to imagine that the UK's risk of overheating the economy decelerating they're facing a potentially big shock and they still went ahead with it anyway. But why, did they do it they do it because they were concerned about inflationary, pressures. Because of, the devaluation of the pound maybe it's very compelling there's like a little bit of, inflation but it's already trending down there was some point there was some talk before. That they needed to hike because they didn't hike? Some other, time they were expected to hike and now they need to show some credibility I don't really get that so you know I think central banker. Just like to hike they can? Okay we can pass on that I guess all right I really believe I've every let's bring. The one Dave in. Here David Wilson stocks editor for Bloomberg, news has the hike had. Any impact on the. Stock markets here in the states you wanna talk about what's going on in stocks look at. Across the pie you're looking, at apple and tesla right mean apple becoming. The first US could apple. And tesla again Yesterday was Day NASDAQ is up one and a. Quarter percent the NASDAQ is up more than ninety six, points? Today right and apple is read the forefront. Of that this is the first US company to cross a trillion dollars in. Market value and when you look at the way that the stock has, moved up it doesn't look like it's going to be a one, day wonder which is what. You saw November two thousand seven when petrochina's started trading in Shanghai and got above the trillion dollars four day while apple is the largest stock in, the? NASDAQ right, I mean it accounts for something like eight and a half percent of the total. NASDAQ waiting so when apple moves the NASDAQ's gonna, move well. That's true a bear. In mind you go back and look at how this stock. Has done it is been, up all but two years since two thousand three I mean it's not something. That just sort of happened all at once and you can argue whether, the reaction to the earnings that came out earlier this week me, justifies the latest move in. That said there were definitely some pluses in the numbers and we know that apple has a history of introducing models in September which is the last, month? Of their, fiscal year so that's something to look forward to and when you put it all. Together this history making day not only for apple, but also. For the US market. And you mentioned tesla certainly the story there is very different. This is a company that's, never made money a company that day Oh no it's not. I mean even Amazon, was in that situation once upon a. Time but taste certainly make a whole lot of money these days Years, later I mean you know you had to wait for it right yeah the point is though they've never made a profit they'd been using up cash, and you know this story is they didn't use up as. Much cast last quarter is analysts were looking for only seven hundred and forty million dollars and that. Was enough to send Tesla's shares on a roll so that's sort of where that company is. And musk is starting to sound more like a CEO not like he did three months ago when he was berating analysts on his quarterly conference call so you got. Tesla up fourteen and a half percent at the moment it it, does kind of show, you that, it, doesn't, take much. Sometimes to, get investors excited and when you get sort of a, few points to focus on you see the results Joe is Is apple. The best stock ever and his tesla are we being old fashioned in saying that test is. Gonna make money no I don't think we're being I mean I don't know what the best ever is I think there probably are stocks that have had better returns. In shorter periods of time Netflix comes to mind if we're just, thinking about the century, so far You know Apple's one trillion is a really high number Breathtaking story as for tesla look I think what got investors excited yesterday was partly the indication and the promise of positive, cash flow going forward and prophets that big said a they've had predictions in the past about this stuff that I think disappointed. Investors in the end and be they gotta, hit it and so I think that sort. Of shows you know. There is a limit to it quick question for you Joe Weisenthal you're going to. Buy any new apple, product that comes out in September you're on your phone you probably will because. I, think I'll be up for. A, new phone, at yeah you got an apple now yeah Yeah. Yeah No I have like the seven. Or, whatever no, Dave Wilson. Just curious I also had. The seven I was thinking about buying one, last year. Skipped it I'll think a whole lot hard harder about buying one this year Bob every I'm not even going. As, pigeons yeah I figured you it's tried. And true. My, friend, yeah But. It's Feed bill Rooftops still cheaper than I guess. It is thanks very much Joe Weisenthal co host of what Jim is check. It out, Bloomberg television three thirty PM Wall. Street time and, of course Dave Wilson Bloomberg stocks columnist David e dwilson Bloomberg. Dot net sign up for his daily free. Email newsletter now let's go to. Our ninety nine one studios in Washington DC where Martin dicara has world the, national headlines Martin thanks him happening. Right now top White House officials are describing plans to safeguard the midterm elections from. Foreign interference the administration's been criticized for not. Doing more stay tuned to Bloomberg radio for more on this. Developing story the, massive wildfire northern California grew overnight fueled, by wind the blaze in and around the city of reading now covers two hundred. Square miles Cal. Fire director Ken Pimlot says an army. Of firefighters thirteen thousand strong is working to contain it and other blazes across the state over twenty seven thousand Firefighters on the fire lines throughout the western United States so almost half of. Those are right here in California wildfires are also scorching hundreds of square miles. In Oregon, more than eleven hundred people likely. Died after hurricane, Maria hit Puerto Rico far more than the official death count. Of sixty four Penn State university study is. The second such review to make. Clear President Trump initially underestimated the tragedy when he compared it favorably to the, aftermath of Hurricane Katrina in two. Thousand five this new report suggests nearly seven hundred of the deaths occurred during two. Months when much of Puerto Rico had no. Electricity Republican hopes for a quick confirmation of supreme court nominee. Brett Cavanaugh might, be over the national archive says won't, be able to complete its review of nearly a million documents regarding Kavanagh's time in. The.
Politics, Policy, Power and Law
U.S. and Mexico Nearing Nafta Car Deal, Sources Say
"Bloomberg intelligence so the feds still. Talking about this too worried about how not to be The curve. Invert because that seems to be a signal for recession although the wags are. Very very long so it's not obvious, to me that a flat curve necessarily means recession but, the fed wants to avoid that and one. Of the things that they'll certainly, talk about at. The meeting is hey can we. When should we stop is going only once every quarter gonna invert the curve or not right now we have got the. Ten year, two point nine nine percent down nine thirty seconds gold is down. Five, tenths of, one, percent, twelve, eighteen, the. Ounce west Texas intermediate crude down one point three percent 67.90 for a barrel of WTI equities mixed s and p down four a drop of about. Two tenths of one percent NASDAQ higher by seventeen, up two, tenths of one percent Dow, industrials down sixty two points now a drop of two tenths of one percent tesla reports after the closing bell and tesla shares they're down now by five. Tenths of one percent one zero two on Wall Street. That means it is time now for the market driver's report with a focus On American depositary receipts. And here is Dave Wilson thanks Charlie eighty yards are fulling more than US, shares, the SNP? DR index is down six tenths of a percent he s and p five hundred hundreds. Only lower by two tenths of a percent Chinese search engine, provider by do as fallen six. Point nine percents in US trading in online. News organization called the intercept, reported. Google is putting together a, censored version of its service for China Google is. The main unit of alphabet and, that stock is higher in today's trading Germany's Infineon. Technologies has lost three point four percent people familiar with. The matter said the chipmaker howled. Early stage talks about buying Swiss rival s. t.. Microelectronics last year as tree micros ADR's by the, way little changed after rising as much as one. Point nine percent earlier Luxembourg's arcelormittal. Has gained three point two percent the steelmaker second quarter earnings and revenue beat Analysts average estimates in a Bloomberg survey arcelormittal was a, beneficiary of higher US DO. Prices. Tied to tariffs and India's Todd Motors is risen three point eight percent the automakers Jaguar Land Rover unit said. Expects new models and lowered Chinese tariffs to spur a second-half rebound in earnings and sales the unit had a loss of about two hundred, and seventy five million dollars last quarter Charlie and we thank you very. Much Dave Wilson tracking those American depositary receipts so again recapping here. Stocks mixed SNP down for a drop, of about two tenths of. One percent I'm, Charlie pelletan that is a Bloomberg business, flash all right Charlie thank you with midterm elections in the US coming in November and a new president in Mexico Mexico taking office in December the two countries are, nearing a deal on new rules for cars sold. Under NAFTA one. Of the major sticking points and, talks to. Revise the trade agreement speaking at a US S. chamber of commerce event this week commerce secretary Wilbur Ross discuss the progress or media close. To completion negotiations are with NAFTA particularly with Mexico we're very. Pleased that, the new. President in Mexico, wasted no, time at, all in pulling is new trade team sir McGregor is Bloomberg news economic policy team leader. She joins us now for more on this story from our Bloomberg ninety nine one studios, in, Washington DC so Sarah how would. The US and Mexico settle the their. Differences over, cars so that's the big question right now what what is in this deal you know. We're hearing that. That the US Mexico are getting. Closer to, some, sort of agreement on autos and there are so many contentious issues in these NAFTA talks but without. A doubt autos is. Probably going to be the hardest one for them to agree on so it is. Significant that if they are getting closer to some to some sort of idea of what they'd Want that basically the lion's share of the US trade deficit with Mexico is cars and we. All know by now that the, trade deficit is really big car parts right and car parts and we know that the trade, deficit, is. Trump's the, thorn in Trump's side when when he talks. About trade so it's really at the. Cracks of redoing this deal so it really can't be overstated how important it would be if Mexico and the, US can can find an, agreement on that but. The big question is where is candidate seems like the US and Mexico are sort of in the boardroom. Right now, at the negotiating table and Canada's in the waiting room and can? They even make deal over cars without. Involving Canada Mexico is the biggest? Source of, car imports to the US Canada's right behind it at number two so how how this practically, would happen it's not clear right now but it would be. Significant if there's some, progress so tell us what the sticking points have been in this area of. Automobiles and auto parts so the US at one point you know had said they want a significantly larger portion Parts of a car percentage of a car to be built from North American made. Parts so they wanted something, like seventy five percent from the current agreement was sixty two point five percent Mexico wanted a little bit lower lower than that and I think also. The US really wanted to make sure that these these parts? That basically the value of the car was coming from higher wage work Trump's biggest one of his. Biggest concerns has been US jobs going. To lower costs Mexico in, the automotive sector in the manufacturing sector and I. Think the US wanted to try and guarantee that higher wage labor was going to be an. Aspect of this agreement put into, writing now so that those jobs could be in America Do you have any idea why the Trump administration has shut Canada out of this out of these talks and are the Mexicans on board with keeping the Canadians out at this point Well I think big turning point was the election of the new president in Mexico to lie I Trump himself has said he's spoken with Anglo since he was elected. And it really seems like there's a priority right now in Mexico as well to get a deal before. This new president in this new administration in Mexico takes over on December first so I think that was a little bit of a more of a willing partner with Mexico right now and, also the US has been pretty vocal. About the fact that Canada has, sort of tried to tried to go a little bit around them to influence lawmakers in the US industry groups and and the US doesn't like that it, wants to negotiate with Canada and it thinks it's, sort of, a little bit of a, sneaky way that candidates taken. To try. And get its voice across by, talking to these congress people who are then trying to go to Trump you know complaining about. NAFTA and saying make a deal with Canada that's great and so I think you know there's there's kind of been a little bit of tension there between the Trump administration will pay Back there So what's next So you know still candidates says, and even, Mexico you know this is. A trilateral deal we want to try and keep this NAFTA as. A trilateral agreement so one element of this is that some people are thinking about is that the Trump administration would wanna get Mexico onboard with a. Deal over autos like I said earlier is a really tough a tough. Nut to crack and once he has Mexico on, board with it hoping to, draw in Canada, then, in say look we've we've agreed between the US and Mexico over one of the hardest, issues are, you you know put. It on them are you going to get on board with? This as, well you know there's some more talks that Mexican economy minister is going to be here later. In the weeks definitely going to find out whether they can. Actually achieve, that you know it's still very much a. Work in progress and I think from there we're gonna have to see what the strategy is from the US Mexican candidate to try and keep this deal together as a. Three, part deal Sarah thanks for bringing us up to speed on all. Of this ceremony, Gregor Bloomberg news economic. Policy team. Later thank you Coming up on Bloomberg politics policy power and law acting EPA chief Andrew Wheeler faces. His first congressional hearing and his first big test up on the hill. As he looks to continue Scott Pruitt's legacy but,.