21 Burst results for "Davis Research"
Bloomberg Radio New York
"davis research" Discussed on Bloomberg Radio New York
"This marks the biggest today drop for the name since twenty twenty a lot of a comparisons happening today with those big share moves and that this renewed some broader concerns about the smartphone industry some other chip making peers also does the drop in orders from the hands that manufacturers qualcomm did warn that the reduction spending on phone parts and other electronics will continue to drag on it for the rest of the year they also you know it's it's not every day that the u .s. government's credit gets downgraded what are some of the strategies on wall street saying i kinda feel like people sing yeah it's not that big a deal but it's feels like it's way on the market here is the consensus seems to be that said the u .s. fish downgrade isn't a really a non -event you had j .p. morgan c .o. jamie diamond bank of america's c .o. brian moynihan all saying that this is not really something to worry about i saw a tweet yesterday from dan lobe over at third point he said that this is a cry for attention by the it's not really that that's driving stocks lower where it is just the renewed turbulence in treasury markets of course blackman today said that he was short the treasury yields as a hedge against a global rate shock so that's kind of adding to the bearish mood and pressuring but you have warren buffett on the flip side says we bought ten billion dollars of treasuries last week ten billions of treasuries and the question for next week when he puts another ten billion in the marketplace which maturity says you buy so that's you know no it's pretty cool yeah yeah so just like this renewed turbulence in the treasury market that is sending shares lower but you if look big picture it seems like the bull case is still pretty much intact for now you had evercore ISI this morning on Bloomberg television saying that this is a pretty normal correction given the incredible run that we've seen in the equity market you still have the soft landing optimism at least for now earnings have held pretty well and strategists are looking ahead ten earnings recovery next year so stocks that's higher still driving and stocks you know if you look at there's an interesting point from Ned Davis Davis research they said that anytime the S &P 500 has soared as much as it did through July it's usually been by gains in the second half of the year so so far it's really we have to look ahead to what we see from Apple and Amazon earnings as well as the jobs report on Friday to get a better clue about what the Fed will do in the fall. Great stuff as always Alex Simonova Bloomberg equities reporter joining us here in our Bloomberg interactive broker studio covering a lot ground of there big day for President Donald Trump he's about to be soon leaving his golf club in New Jersey heading down to Washington DC for the arraignment there for that January 6 uprising break it down here Caroline Frederickson distinguished visiting professor from practice at Georgetown Law as well as Wendy Schiller professor at Brown University. Caroline I want to start with you from perspective the legal here the legal case the indictment that's come I think probably one of the number one questions for a lot of folks looking at this is timing is this an indictment is this a trial that can start prior to or be concluded prior to the election well it's going to be complicated there's there's no doubt that the former president is going to do everything he can to to slow down the proceedings to drag it out as long as he possibly can but I think they're going to to keep a pretty rigorous schedule I mean that the this courthouse and Judge Chutkin have already dealt with so many January 6th trials that they are really equipped to to process these as quickly as it's fair obviously to the defendant but I think we're going to see things move along in a pretty good clip. Wendy I want to bring you into this conversation how does this latest indictment affect these other ongoing trials? Well I mean I think it affects standing Trump's political in a sense of it takes a lot of money to defend himself on all these charges and if there's another indictment that's even more we've seen a lot of difficulty with the PAC that he had you know he's raising this money he's spending it on himself and his legal fees and now it's really mounting so question is the who invests in the Trump presidential campaign when for the time being the money is going for his legal defense now in a second federal indictment in addition to a state case you point do even know small at what donors say wait a minute what's going on exactly and and Wendy we had a guest on a day or two ago a former prosecutor who actually was a prosecutor on the Watergate issues of back in the seventies he said of all the issues out there for President Trump from legal perspective this January 6 uprising is quote the one how do you view what's what the former president will be arraigned on today is way everything else is out there well it depends on your perspective and I'll leave it to you I'm sorry I'm sorry I was directing that Caroline sorry yeah on the political science well I have to say I agree with other commentators the other charges are obviously very serious stealing national security documents obstructing nation's efforts to recover those documents campaign illegal campaign chaos but really when you're talking about an effort to subvert a democracy there couldn't be anything serious more there couldn't be a charge more serious what was perilous for many people that day in terms of the instruction was truly perilous for our democracy to the extent that Donald Trump had a role in fanning the flames and certainly in his efforts to block the certification of the election to promote illegal electors who were not chosen by the voters is all very very troubling and I think the consequences for him are therefore that much more serious I think as a professor from Brown I had suggested though that I think this is you know there's also obviously very big political impact and the difference between you know the charges of absconding with some documents and people think might that's sort of silly or funny or you know he's such a show -off he wanted to wave around his love letters from dictators and show off plans to you know the nuclear capabilities of our allies you know that I think is very serious and unfortunate but it pales in comparison to the idea that he was trying to you know engage in a coup. Wendy how has the Biden administration responded to the latest indictment? Well the Biden administration is you know quiet keeping right itself because first of all you know the Justice Department is separate from the presidency and I think Biden's always been very consistent about that now and Biden's son Hunter is under investigation with a plea deal that fell apart and so there's even pressure more on Biden to be quiet about federal investigations but going back to the point about which case might matter more politically I tend to differ because I think that the average American given what Trump did to conceal the documents, erase the tapes, surveillance tapes, bully the employees, threaten them and make them cooperate this is like right out of The Sopranos right this is an unattractive version you know the president of the United States and so for the average person who tries to figure out how might this make my life worse having a mob boss as president of the United States versus somebody who's trying to undo an election that they lost I think for the democracy there's no question that this January 6th is worse politically I to think if you're peel going away anybody who voted for Trump in 2020 you have to say life will be more chaotic it'll be and the guy is kind of a mean bossy possible want you know wannabe mob guy in the House White does that appeal to you maybe but you know maybe it doesn't and I think for the independent voters and suburban voters who away stayed in 2020 I think they say to themselves I don't want this kind of person in the White House. Caroline from a legal representation standpoint you know when I look at the lawyers representing the
Bloomberg Radio New York
"davis research" Discussed on Bloomberg Radio New York
"8 o'clock so let's bring you the European market open stock 600 starting the day up four tenths of 1% after the falls that we saw yesterday the FTSE 100s up by a quarter of 1%, the cat car in Paris up by 7 tenths of FTSE mib in Italy up by 9 times across the stock 600 most of the sector is trading in positive territory in those first few minutes of trading media sharing the biggest gains up by 6 tenths of 1% energy and utilities just below the flat line in trading, Italy's UniCredit was one of the best performing shares at the open up 3.2% nexi also at both 4.7%. Now, at the start of trading, looking ahead towards Wall Street, S&P E minis are 1% stronger this morning, as we see the pound regain a little bit of strength, not as much as we saw earlier. It's up by 9 tenths of 1% on cable at one O 7, 83 as we see a sell off continuing on European bond markets. Okay, those are the numbers right now. Now speculators are betting the pound will side to a level that was virtually unthinkable in recent decades, $1 or less. Jordan Rochester G ten FX strategist at namira says without intervention from the Bank of England, cable will continue its slide. Even with rising interest rates in the UK, it's becoming less attractive to investors as this crisis goes on. And therefore, I think we break through comparison and cable before Christmas, probably by the end of November. Jordan Rochester's comments come as bets against the pound now show a 43% chance it will hit parity before the end of this year, a strong dollar has already put pressure on Sterling, but it slumped further after new Chancellor quasi quantum rolled out plans to enact large scale tax cuts in the face of an economic slowdown. Guilt have plummeted across the curve with the largest one week rise in yields for UK government debt since Bloomberg data began, that has been the story over recent days, of course, and we saw a big spike up in guilt gills 50 basis points higher across the curve yesterday. Today looks a little calmer we see those guilt yields coming down by around ten basis points across the curve. So we are seeing a little bit of respite a little bit of calm, but how long that last is a question, a bit of calm in the pound as well. It's now up 9 tenths of 1% at one O 7 83 after touching one O three that at low against the dollar earlier on this week. The Bank of England governor Andrew Bailey has attempted to soothe markets by saying the bank won't hesitate to increase rates by as much as needed to rein in inflation. He temperates speculation of an emergency meeting saying the bank would make a quote full assessment at its next scheduled meeting on the impact of the UK government's fiscal plans and the fallen Sterling and act accordingly, even U.S. U.S. central bankers have weighed in. Here's the Atlanta fed president, Raphael bostic. What do you have seen in terms of market reaction is that the proposal is really increased uncertainty and really cause people to question about what the trajectory of the economy is going to be or might be moving forward. That was Rafael bostic speaking at a Washington Post virtual live event, UK Chancellor quasi quarantine will now head for a difficult meeting with London's top bankers today. What was initially scheduled as a polite conversation about his plans to unleash growth has now morphed into a crisis so much for the finance industry. Now some UK lenders have begun to withdraw mortgage deals as concerns rise that the Bank of England will have to hike interest rates to support the pound. Lloyd's banking group says its lender Halifax will make changes to its mortgage product range as a result of significant changes in the cost of funding. Virgin money is temporarily stopping new mortgage offers citing volatile market conditions about 1.4 million UK households are set to refinance their mortgages over the coming year. Meanwhile, recession concerns are mounting Ned Davis research now sees a 98% chance of a looming global recession while Morgan Stanley's Lisa Charlotte is warning that earnings optimists are sleepwalking off a cliff in the United States, Cleveland fed president Loretta master says more rate hikes are needed to stamp out high inflation. So the FMC is committed to using its tools to bring inflation back down to our longer run golf 2% last week. We took another decisive action to remove monetary policy accommodation. We raised the fed funds rate by 75 basis points. And we're continuing the process of reducing assets off of our balance sheet, which also reduces accommodation. Speaking in Boston master didn't specify how much more tightening would be needed this year, but said she wants to see inflation cool for several months before concluding that it has peaked median projections that show fat officials expect rates to reach 4.4% by the end of this year and 4.6% in 2023. The European Central Bank president Christine Lagarde says the governing council will only consider shrinking its balance sheet once it has normalised rates. Lagarde told lawmakers in Brussels that interest rates remain the appropriate policy tool to fight inflation, and the debate about quantitative tightening will be held when rates reach neutral. When we have completed our monetary policy normalization using the most appropriate efficient and effective tool that are the interest rates, then we will ask ourselves how, when at which rhythm at which pace, we use the other monetary tools that we have available, including quantitative tightening, that was the easy be president Christine Lagarde, the Central Bank is holding almost €5 trillion worth of bonds, bought during
Bloomberg Radio New York
"davis research" Discussed on Bloomberg Radio New York
"To Bloomberg, daybreak, Europe A check on the markets for you. Some strands returning to the pound today on markets up 1.2% on cable one O 8 17 is where that's trading at the moment. The other side of that, of course, is the Bloomberg dollar spot index as half a percent weaker this morning down by half of 1%. US Treasury yields easing a little to ten year 6 and a half basis points lower this morning three spot 86, the two year four basis points lower at 4.3% on the equity markets, some signs of a rebound after the sell off of recent days, the MSCI Pacific index is a tenth of 1% higher than the hang seng is down by 6 tenths Euros ducks 50 futures are positive up 6 tenths of 1% S&P E minis are 8 tenths higher. So let's go to our top stories speculators are betting that the pound will slide to a level that was virtually unthinkable in recent decades, a dollar or less. Jordan watches the G ten FX rashes at Nomura says without intervention from the Bank of England, cable will continue its slide. Even with rising interest rates in the UK, it's becoming less attracted to investors as this crisis goes on. And therefore, I think we break through parity and cable before Christmas, probably by the end of November. Jordan Rochester's comments come as bets against the pound, now show a 43% chance that it will hit parity before the end of this year. A strong dollar had already put pressure on Sterling, but it slumped again after new Chancellor quasi quatre rolled out plans to enact large scale tax cuts in the face of an economic slowdown. Guilt of plummeted across the curve with the largest one week rise in yields for UK government debt since Bloomberg data began. The Bank of England governor Andrew Bailey attempted to soothe markets by saying the bank won't hesitate to increase rates by as much as needed to rein in inflation, but he tempered speculation of an emergency meeting, saying the bank would make a quote full assessment at its next scheduled meeting on the impact of the UK government's fiscal plans and the falling Sterling and act accordingly, even U.S. central bankers have weighed in. Here's the Atlanta fed president Raphael bostic. What do we have seen in terms of market reaction is that the proposal is really increased uncertainty and really cause people to question about what the trajectory of the economy is going to be or might be moving forward. That was the Atlanta fed president Raphael bostic speaking at a Washington Post event, UK Chancellor quasi quarantine will now head for a difficult meeting with London's top bankers today. What was initially scheduled as a polite conversation about his plans to unleash growth has now morphed into a crisis summit for the finance industry. UK lenders have begun to withdraw mortgage deals as concerns rise at the Bank of England will have to hike interest rates to support the pound. Lloyd's banking group says it's Halifax as sigri will make changes to its mortgage product range as a result of significant changes in the cost of funding. Virgin money is temporarily stopping new mortgage offers, citing volatile market conditions, about 1.4 million UK households are expected to refinance their mortgages over the coming year. Meanwhile, recession concerns are mounting Ned Davis research now sees a 98% chance of a looming global recession while Morgan Stanley's Lisa Charlotte is warning that earnings optimists are sleepwalking after cliff. In the United States, Cleveland fed president Loretta master says more race hikes are needed to stamp out high inflation. So the FMC is committed to using its tools to bring inflation back down to our longer run golf 2% last week. We took another decisive action to remove monetary policy accommodation. We raised the fed funds rate by 75 basis points. And we're continuing the process of reducing assets off of our balance sheet, which also reduces accommodation. Speaking in Boston master didn't specify how much more tightening would be needed this year, but said she wants to see inflation cool for several months before concluding that it has peaked. Medium projections show fat officials expect rates to reach 4.4% by the end of this year and 4.6% in 2023. While the European Central Bank president Christine Lagarde says that the governing council will only consider shrinking its balance sheet once it has normalized rates, Lagarde told lawmakers in Brussels that interest rates remain the appropriate policy tool to fight inflation and the debate about quantitative tightening will be held when rates reach neutral. When we have completed our monetary policy normalization using the most appropriate efficient and effective tool that are the interest rates, then we will ask ourselves how, when at which rhythm at which pace, we use the other monetary tools that we have available, including quantitative tightening, that was the ECB present, Christine Lagarde speaking, the Central Bank is holding almost €5 trillion worth of bonds bought during recent crises. Well, those are our top stories. Let's get more though on the markets and after Sterling's plunge and a brutal sell off and government debt was acquired Tang is meeting city financiers today. For more, we'll join our by Bloomberg jam Patrick Barnes. Good morning to you. January Patrick, let's can you put forth the UK markets into context. We've seen this huge slump in Sterling. And the largest one week rise and guilt since Bloomberg data began. Very good morning. Yeah, it's not going great for the UK and we see this in the stock markets as well. Especially in the small and mid caps index, which plunged 4% in September. Even more so if you look at this in dollar terms or in Euro terms and we heard earlier from Nomura that this is putting off investors sending any money into UK stocks and that's what we're seeing right now. It's not too bad on a relative basis. So Europe, the stock 600 also plunged about 5% during this month, but the UK has put herself into a very difficult spot with being out of the EU being pretty much on its own with its currency and I'm not sure if investors will have any confidence in the next couple of months to put any money into the UK stock market. Okay, so what can kwasi kwade then say to these city officials that he's meeting in order to come markets then? Well, I guess the honest answer is nothing. Because when markets are jittery there's very little in terms of words that can help them. Of course, it will do the usual political thing and try to reassure that the government is all over it and will act accordingly if things go worse and will probably reassure people that they are in touch with the Bank of England and that they will intervene or do anything to prevent the pound from crashing into total nightmare. But again, then the question is, how much trust will markets put into these words? And I would say that at this point, they would like to see actions rather than words. Well, let's talk about the Bank of England statement then. The bank saying that it would make a full assessment at its next scheduled meeting on November 3rd. That doesn't seem to have gone far enough for many. Yeah, absolutely true, but that's the typical Central Bank rhetoric, I would say, right? The central banks are not known for doing hasty actions or acting quick. They always want to assess first. That's the thing. And then they make a decision. It's not necessarily a bad thing. I mean, for them, they know that the risks are high if they make a mistake. So it makes sense to do assessment first and then make a decision, especially given that currency interventions in the past have not always gone well for the state doing it. And sometimes we have seen investors trying to fight the Central Bank or to see if they can put the money where their mouth is. And so it makes sense to me that the Central Bank
Bloomberg Radio New York
"davis research" Discussed on Bloomberg Radio New York
"I'm Brian shook. And I'm Charlie pellet at Bloomberg world headquarters. For winning weeks in a row for the U.S. stock market, the traders assess whether an inflation slowdown could make the fed reduce the pace of its most aggressive tightening campaign in decades. At clisson is chief U.S. strategist at Ned Davis research. The shed could still push things too far. We still could be in trouble, but it may not be until next year. And that's a wide berth to the market to have a really impressive rally and then we could run into trouble moving into late this year or early next year. We don't want to discount that possibility too much. I'm just saying for now the market looks like it has some likes to run a little further. At close hold of Ned Davis research but a different opinion from Victoria Fernández, chief market strategist at crossmark global investments. But I think when you've got this fed that is just determined to continue to raise rates until they really cause a little bit of pain within the labor market and bring that inflation number down, then I think you have to be concerned that they're still going to be some volatility going around. Victoria Fernández of crossmark. Economists in a monthly Bloomberg news survey are boosting their inflation estimates. The story from Bloomberg's vinyl giudice. The PCE price index, the Federal Reserve's preferred inflation gauge is now seen averaging 2.5% by the end of next year. That's above the last Bloomberg survey. Should the forecast pan out? That might mean the fed will extend its tightening campaign. Separately, the Labor Department reports the import price index actually moderated in July as gasoline prices retreated from record highs. If any doubt you dice Bloomberg radio, the S&P 500 Index up 72 points today up 1.7%, the Dow up 424 up 1.3% NASDAQ up 2.1%. Global news 24 hours a day on air and on Bloomberg quicktake powered by more than 2700 journalists and analysts in more than 120 countries. I'm Charlie palette this is Bloomberg. Bloomberg wealth is brought to you by Meryl, a Bank of America company, visit Bank of America dot com slash marrow advice. Merrill Lynch pierce fenner and Smith incorporated registered broker dealer, registered investment adviser, member SIPC, a wholly owned subsidiary of Bank of America corp
Bloomberg Radio New York
"davis research" Discussed on Bloomberg Radio New York
"Shows the FBI is investigating former president Trump for potential espionage act violations. FBI agents earlier this week recovered classified material during a raid on Trump's home in Florida. The search warrant lays out three possible federal crimes as reasoning for the search, including violations of the espionage act, obstruction of justice and criminal handling of government records. President Biden is expected to soon sign the inflation reduction act House Democrats Friday past the bill after it narrowly passed the Senate last weekend. The polio virus is being found in New York City wastewater samples, which suggests the virus is spreading in the city. Governor Kathy hochul says all levels of government are monitoring it closely. But the number one thing that people can do to protect themselves is to ensure that they, their children, their loved ones, are vaccinated. We are standing up more vaccination sites. I'm Brian schuch. And I'm Charlie pellet at Bloomberg world headquarters for winning weeks in a row for the U.S. stock market, as traders assess whether an inflation slowdown could make the fed reduce the pace of its most aggressive tightening campaign in decades at clisson is chief U.S. strategist at Ned Davis research. The shed could still push things too far. We still could be in trouble, but it may not be until next year. And that's a wide berth to the market to have a really impressive rally and then we could run into trouble moving into late this year or early next year. We don't want to discount that possibility too much. I'm just saying, for now, the market looks like it has some legs to run more further. At close hold of Ned Davis research but a different opinion from Victoria Fernández, chief market strategist at crossmark global investments. But I think when you've got this fed that is just determined to continue to raise rates until they really cause a little bit of pain within the labor market and bring that inflation number down, then I think you have to be concerned that they're still going to be some volatility going around. Victoria Fernández of crossmark. Economists in a monthly Bloomberg news survey are boosting their inflation estimates. The story from Bloomberg's vinyl giudice. The PCE price index, the Federal Reserve's preferred inflation gauge is now seen averaging 2.5% by the end of next year. That's above the last Bloomberg survey. Should the forecast pan out? That might mean the fed will extend its tightening campaign. Separately, the Labor Department reports the import price index actually moderated in July as gasoline prices retreated from record highs. If any doubt giudice Bloomberg radio the S&P 500 Index up 72 points today up 1.7%, the Dow up 424 up 1.3% NASDAQ up 2.1%. Global news 24 hours a day on air and on Bloomberg quicktake powered by more than 2700 journalists and analysts in more than 120 countries. I'm Charlie pellet this is Bloomberg. Your listening to masters in business with Barry riddles on Bloomberg radio. I'm Barry Ritz, you are listening to masters in business on Bloomberg radio, my extra special guest this week is Ken tropen, he's chairman and founder of GCM, an $18 billion hedge fund that runs a variety of macro and quantitative strategies. The firm was founded in 1994 and has a 170 employees. I want to start talking about the current environment with a quote of yours that I really like. You said I can't recall a more interesting time to be a macro investor since the financial crisis. Tell us a little bit about that. I haven't heard a lot of people describe this year 2022 that way. Yeah, well, you know, because we're a macro oriented fund, what we're really concerned with is what's happening with interest rates, what's happening with foreign exchange, what's happening with commodity prices, and what's happening with the equity prices. And all of those four sectors have been moving a lot, and so that's a really fertile constructive environment for us to try and generate returns. Meaning if they're moving you'll finding opportunities. Exactly. For us, it's nowhere near as productive and environment asset classes are really quiet. If you think about interest rates as an example, think about that Germany didn't raise rates for ten years until recently, right? So just practically speaking, there's going to be less to do if you're trading German interest rates and the central banks not moving them for ten years. Now, rates are moving and they're moving a lot. If you think about the U.S., the Central Bank started giving us something they never used to do, which was for guidance. Saying, not only are we not changing rates today, but we're telling you, we're not going to change rates for the foreseeable future. I'm so glad you said that because I remember in the 1990s, CNBC used to have the green span briefcase indicator. How thick or thin the briefcase he carried into the FOMC meeting was their hint as to what was going to go on with rates. That's a different world. Now they literally say, this is what we're doing. There's no misunderstanding they are not just telegraphing explicitly telling us what they're going to do. How does that affect your ability to find opportunities? Well, so here's the thing. If they're telling us they're going to do nothing. That's not so helpful. If they're telling us that they're going to be moving interest rates a lot, and they're not just going to do this at one meeting, but over some series of meetings and for the next year or something, then there's a lot to work with in terms of the markets. They're going to move a lot. They're going to overreact. They're going to give us trading opportunities, both on the long and short side. And so when I say the markets are more interested and they've been for a really long time, it's for a variety of reasons. Markets are moving. We've got some banks all over the world starting to move. We've got equity prices moving a lot. There's a big realization of PEs to lower levels, right? As earnings start to decline in a road. You've got commodity prices that went through the roof in the first third of this year because of supply chain issues, the Ukraine war, and so on. And then you've got the dollar making one of the biggest moves that I've seen in a long time, like 20 years. We've had a move in dollar again 25%. We haven't seen that in a long time. So that makes it Euro parody. Exactly. So you've had great moves and a lot of markets. And what I'm excited about is I don't see that changing into a quiet moment anytime soon. So 2021 for equity investors, hey, plus 28% seemed like a great year
Bloomberg Radio New York
"davis research" Discussed on Bloomberg Radio New York
"From the sport. Fury posted on Instagram in celebration of his 34th birthday and thanked everyone who had input in his career over the years. He said after long hard conversations he's choosing to hang up his gloves once and for all. Fury initially announced his retirement in April. He told his fans see you all on the other side. I'm Brian shook. And I'm Charlie pellet app Bloomberg world headquarters for winning weeks in a row for the U.S. stock market, as traders assess whether an inflation slowdown could make the fed reduce the pace of its most aggressive tightening campaign in decades at close old is chief U.S. strategist at Ned Davis research. The shed could still push things too far. We still could be in trouble, but it may not be until next year. And that's a wide berth. Imagine a market to have a really impressive rally. And then we could run into trouble moving into late this year or early next year. We don't want to discount that possibility too much. I'm just saying, for now, the market looks like it has some likes to run a little further. At close hold of Ned Davis research but a different opinion from Victoria Fernández, chief market strategist at crossmark global investments. But I think when you've got this fed that is just determined to continue to raise rates until they really cause a little bit of pain within the labor market and bring that inflation number down, then I think you have to be concerned that they're still going to be some volatility going around. Victoria Fernández of crossmark. Economists in a monthly Bloomberg news survey are boosting their inflation estimates. The story from Bloomberg's vinyl giudice. The PCE price index, the Federal Reserve's preferred inflation gauge is now seen averaging 2.5% by the end of next year. That's above the last Bloomberg survey. Should the forecast pan out? That might mean the fed will extend its tightening campaign. Separately, the Labor Department reports the import price index actually moderated in July as gasoline prices retreated from record highs. Vinny dal giudice Bloomberg radio. The S&P 500 Index up 72 points today up 1.7%, the Dow up 424 up 1.3% NASDAQ up 2.1%. Global news 24 hours a day on air and on Bloomberg quicktake powered by more than 2700 journalists and analysts in more than 120 countries. I'm Charlie pallet, this is Bloomberg. This is balance and power with David Weston. Iraq is no longer a front burner issue in the United States foreign policy. And by the way, it's not doing too badly at the moment. Ukraine needs to hold out as long as it can so it can get a decent deal at the negotiating table. Where the world of politics meets the world of business if squirrel has plenty of room for competition between China and the United States and others as well. It is highly transmissible and it found President Biden. Balance of power with David Westin on Bloomberg radio. Coming up this hour, the MTA in New York is facing an unsustainable revenue squeeze. We talk with the CEO jano lieber about what can be done. And Minnesota attorney general Keith Ellison about how his state is addressing election challenges, abortion rights, and law enforcement
Bloomberg Radio New York
"davis research" Discussed on Bloomberg Radio New York
"The bulls wanted would be to see this thing going straight up. So maybe the consolidation today feels about right. Your thoughts. Yeah, sure. And thanks for having me. That is the $60,000 question, of course. Is this the start of something? This is the start of a real durable bottoming process, or is this just one of those infamous bear market bounces that happen all the time in bear markets? In our view, at the current stage is that it's more likely to be a dead cat bounce than the start of something more durable. And the reason we'd say that is, is we're watching investor sentiment very closely. When you're looking to put in these durable bottoms, sometimes one of the tells is when investor sediment gets really, really, really pessimistically extreme. And we just haven't seen quite that level of pessimism that we would need to try to make that call. We use a bunch of different tools to try to do this. But one of them is some work we use from Ned Davis research as crowd sentiment poll. And when you look at the weekly poll, and we have data going back really long way, we've been studying this for over two decades. Typically, we would see readings under 30 in the weekly polls. And we're not quite seeing that yet. I think it's right now in the 40s. It just doesn't have the same feel as say early 2009 or even a early 2020 call in April of 2020 field just yet. All right, thanks for being with us, Chris. I want to get a sense here of what in your view capitulation would look like. Sure. Well, first of all, investor sentiment would need to be a little bit more washed out. The other thing that we've seen that we find kind of curious is that flows if you study ETF, equity, ETF flows. We haven't seen the kind of just wash out selling that you typically see in those types of funds before some sort of durable bottom. In fact, coming into this prior week, what we've seen is about four or 5 weeks straight of equity inflows, which is not really to measure it with the type of panic selling we would see an adorable bottom. Yeah, well, 11% down in the S&P 500 in two weeks is pretty abrupt, but I do appreciate the navis research and your own
Bloomberg Radio New York
"davis research" Discussed on Bloomberg Radio New York
"This is Bloomberg daybreak Middle East your top stories this morning U.S. inflation hits a 40 year high the fed's James bullard calls for a supersized hike in March Swaps traders are now pricing in 7 rate increases this year The rising prices put further pressure on President Biden He's knife facing an even bigger battle to enact his spending proposals and retain his parties control of Congress Saudi Arabia's economy expanded 6.8% in the fourth quarter with oil prices helping the king to maintain the fastest pace of annual growth in almost a decade And as Uber shares plunge in the latest earnings and outlook we speak to the companies head of Mina and Pakistan about the business the growth opportunities here in the region As it goes 9 a.m. across the Emirates our Medicare and Dubai And I used to commit to ride alongside you the hottest inflation in four decades and wow what kinds of moves then ensued in the treasury market specifically on your two year yield the biggest one they move since about 2009 at the moment treasury futures pointing towards their repricing as well just bear in mind that we are of course trying to factor in quite a few new elements to what the swap markets are beginning to price in because what we're seeing here is 7 hikes 7 25 moves in 2022 That's what traders are doing in terms of the swap markets and that's kind of in line with what we heard from Goldman Sachs to raise their fed forecasts as well to 7 straight 25 bit moves This year you're looking here as well the GTV that we've put together for you that basically brings together the market pricing in terms of overnight index swaps they're pricing in about an 80% chance of a 50 basis point lift off I want to get some of the energy markets as well Brent crude specifically because OPEC is saying that the recovery in global demand should could surpass its forecasts this year Raymond James is seeing oil at a $125 by the middle of the year Well let's just turn it back over to the equity story Because we are grappling with this supersize supersize me up hike possibility from the thing I wonder where they lose credibility for the economy taken Well the stock market is continuing lower this morning and their Davis research says very clearly and is about the speed of the rate hikes in a slow mellifluous rate hiking cycle stocks rise but when it's Fast & Furious you gotta cut your holdings go to college Some but Bernstein say buy these equities at these levels because for them real yields can rise further by another 40 basis points before the equity risk premium hits a long-term average So equities under pressure to what does it do to the dollar dollars of both to roll over in a hiking cycle or certainly at the beginning of it Let's drill in to the FX column because that's really where you want to focus your mind and of course these Asian currencies are reacting in a very very different way is the dollar rally Some of the Asian currencies are rolling over Of course it is about the scale of the hikes and the impact on the dollar You can see all the sovereign spreads there use of on the far right hand side exploding in Singapore exploding by more than three standard deviation moves in all of the Asian bond markets Let's get to Judith Sally She's standing by in Asia to take us through to the rest of the rap Jules Yeah exactly Matt is not a lot for places for investors to hide here in Asia as you are seeing most equity markets and as you mentioned bond markets being sold off today We are seeing some upside though in the Shanghai composite in China higher for a 5th session Some of the reprieve from China's market probably due to that surging credit data that we had coming through yesterday and remember it's still the week in which we've resumed from lunar new year some expectations or speculation that we have seen quite a lot of buying from the national team too But with those rising yields you're seeing quite a bit of weakness in tech players as you would expect worth noting Singapore though an outlier today and when it comes to those bonds we're looking at a sale of particularly in the Aussie three year we heard from the RBA governor Phil load they're still remaining patient but that yield actually at its highest since 2019 I want to have a look as well at what we're seeing in the property developer space as we come back out of the lunch break and an index of these property developer sticks in Hong Kong and China up for a third session It looks like there is more easing pressure to for this sector supporting some of these stocks and CICC in particular calling out some of the mainland names for buying They say poly development as well as China resources land look like some investment opportunities there Joe's good to see you this morning I'm not hot inflation reading has got this St. Louis web president Jimbo calling for much more aggressive policy staff starting with 50 basis point hike as soon as March global economics policy added a Kathleen Hayes joins us from New York having good to have you with us on what he had to say What's driving buller Because he even hints at goodness knows the risk of an intra fed meeting shock Well at least he did say that the past they would be doing it right now I think what he was trying to convey there man is is that we have waited We have lead inflation surged to the highest in 40 years and now we're just barely looking Well not barely but just a few weeks still The first rate hikes in this cycle What he said exactly again the highest inflation in 40 years of fed needs to be I love this part Nimble and far more reactive to the deflation is high you got to move I've got to give a big shout out to Steve Matthews of our Bloomberg news team This is an exclusive This interview he got this story he wrote which is move markets around the world Now let's look at the consumer price index 7 and a half percent year over year It's up from 7% in December above the forecast of 7.2 The core that's that next line going up to 6% year over year That's a very ominous sign for the federals welfare Getting the sense that these pressures are broadening out Look at those Let's cut the blue bars first Services of nearly 5% year over year the most in 31 years What does that tell you Services Maybe wages are.
Bloomberg Radio New York
"davis research" Discussed on Bloomberg Radio New York
"But also profit margins were big driver Those are remarkable earnings games last year Usually in the third year of an economic expansion which we're going to be in for most of this year Margin expansion continues But because we've already done such a good job of the margin front the wages are a little higher I wonder how much more margin expansion is out there So wages and costs on that front are going to be key I'm interested in your take quickly and on retail versus institutional right now How much do you think it's the algorithm that dictate trade How much does retail really hurt Yeah there are probably a lot of people who were new to trading learned a lot of lessons over the past few weeks So that may take some of the froth out of the market Although institutions are probably taking their lumps as well But it's quite possible we've seen the peak of the Reddit group will have to see how well they do that And crystal chief U.S. strategist for Ned Davis research really appreciate the perspective here on days like today Caroline some breaking news as well on fundamentals Yeah IBM coming out and it's a beat with its fiscal fourth quarter revenue 16.7 billion the estimate had been for 16 billion They're saying that is growth of some 6.5% 8.6% if you're factoring in constant currencies We're also seeing consulting revenue looking pretty healthy 4.75 billion This is revenue up to the tune of 16% in a constant currency basis software revenue This is where all the analysts are trained Software revenue 7.27 billion This is up 10% at constant currencies Remember this is all as they've taken out kind drill taking that bit out of the business I'm really double down on what is the future of cloud of software of consulting And raglan is with us a cool senior software and IT service analyst for Bloomberg intelligence joining us on the phone And dig into it with you with us will you for a moment Because this is what I'm encryption has been talking about He's been promising mid single digit growth right Yeah no absolutely So the two things that stand out to us is consulting growth and the improvement in software And these are the two areas where going into the quarter we expected a consulting to be strong but we were ensured where the software is going to end because last quarter they had a blip in software It's nice to see a recovery in that segment also Talk to us a little bit about the legacy business We see that go down and I think that would be a good thing This is the infrastructure business It looked like it's down a 2% here on a year over year basis How is the runoff of that going relative to the uptick that we're seeing with regards to software and other services So the infrastructure segment will go up and down and that cyclical as well as there's not going to be that much growth in that in any case But the real kicker is how is software going to go going forward I think the guidance that we're going to hear on the call is the most important thing for the company at this point because software not only brings good revenue growth but it also brings really high gross margins where gross margins and software are close to 80% where that in the infrastructure segment is only 50 and while in the consulting segment is only around 30 Anna rug this is a company that has been kind of setting itself for the future right selling off some units as of late How nervous though are you that it hasn't put out an outlook that it's going to talk about 2022 expectations on the call What does that say to you I think if you look at it from a macro point of view technology spending is strong It's actually very strong right now It's one of the best that I have seen in the last 15 plus years So from that point we see no reason why IBM's consulting growth should not continue into next year And so same thing for the software group But we don't know what kind of margins that brings with us at that point So I'm going to frankly not that concerned about the growth aspect but one thing that I would say along with it is IBM still has a long way to go before it can match its peers when it comes to overall growth rate All right on a rock I really appreciate you taking time to be with a senior software and IT services analyst at Bloomberg intelligence breaking down IBM earnings for its IBM shares higher by about 6% the headline Taylor is IBM posting its best sales growth in ten years on cloud demand We take a look at fundamentals from some of the individual companies and fold that into fundamentals of some of the markets that we got today Let's do all of this with Gina Martin Adams chief equity strategist for Bloomberg intelligence and Gina you just heard on rock talking about some of the companies Some of the big tech companies were starting to hear from this week you fold that in to attack sector that managed to close up 6 tenths of 1% today Gina How were you thinking about the fundamentals in this equity market Yeah so frankly the fundamentals of someone been someone ignored as the market has been very much focused on monetary policy and what's going on in rates and duration as the primary factor really driving stuff So in the last couple of weeks So getting into the thick of earnings season should provide some degree of welcome reprieve for the equity market In particular this week of earnings we get the most S&P 500 companies reporting this week We get all of the giants in the tech.
AM 570 The Mission
"davis research" Discussed on AM 570 The Mission
"Maybe you find it difficult to keep up with everything that's going on in the market and the economy and you're you're not willfully trying to be Anything but a good steward. But you know, a lot of stuff changes very fast. Things change. The Fed makes an announcement or has a meeting and view if you don't if you're not listening to somebody that breaks it down for you never know what they said or did And then that impacts the interest rates and then all of a sudden Your investment portfolio is your loans. Everything that you're connected to economically has been impacted and you're like, what's going on? Well, that's why we have money Mondays so that we can help break some of this down for you. And today we're going to look forward at the week to come by looking back at the Fed and what they did last week and kind of what the greatest fear about the future is David Fisher, the aforementioned is with us. David the and I think that what I just described as pretty common and for a lot of people, and it's common for me. I don't know what the week is going to hold for the markets. So what is on the financial agenda that could impact our portfolios? What's happening this week and the Fed is talking. But the big thing this week is the second quarter earning seasons that kick off the big banks are going to kick off the reporting just as usual financial firms Kevin are expected to be a part of this broad boost is what the hopeful thinking but also the industrials materials and can tune consumer discretionary stocks. Those sectors are all sensitive to a challenged economy because inflation watchers are seeing that on Tuesday, tomorrow, the CPI number came out and remember last month it came out red hot at five. Percent, So there's some bullish fundamentals and technicals are intact in the marketplace, But the sentiment amongst investors is eroding because volatility is kind of ugly right now it's rare in his head. So as we enter the second half most analysts of the year that is, most analysts are forecasting a slowdown in the markets of slowdown in growth, and Ned Davis research pointed out. In June that the expansions were slow, and analysts are cautioning that we might be moving into a cyclical cyclic called Bear market, so Don't expect the second half of the investment in stocks be the same as the first half and Wednesday. I did mention this slightly, but Wednesday, said Chairman Jerome Powell is going to be before Congress at the semi annual monetary policy report. And he's going to testify. Probably saying we don't have much inflation, but he'll be a day after the C P s. I number in. The numbers are supposed to come out tomorrow. Just a half of a half over percent down. So a 4.94 point 95%. So we still have massive inflation even though the Fed is going to probably Italian try and tame that tomorrow. Wow. All right. That's interesting. The feds June meetings, minutes were just released and I'm wondering if we learned anything that we didn't know about in terms of what they had allowed to be leaked to the press in terms of the official statement with anything else in the details. Well, you know, came out last Wednesday after our money Mondays, and there's concern that the Fed is concerned that there's going to be more higher inflation and put more persistent inflation than what the central bank previously indicated. The minutes showed the Fed officials expressed optimism about the economy. But as far as the you know, changing of the goals of the Fed their tightness to unemployment and unemployment is still 8.9%. And so We're not going to be there the data, you know the ironic thing. Kevin is the data that says let's stimulate by the Fed, which is $120 billion a month. As far as stimulus..
NewsRadio KFBK
"davis research" Discussed on NewsRadio KFBK
"Alliance President Tom Manzo. Placed the ad. California's labor laws are not that great. They're not business friendly whatsoever. That's why so many people are leaving the state. That's why so many Businesses air going under If they start to pass some of the laws that are in California. Federally, I mean it could be problematic for us as a nation. The ad says Sue over some massive failure of California's unemployment insurance system insights and estimated 30 billion and unemployment fraud on her watch, including checks sent to death row inmates. We also just received a response from her office, so we'll have more on that response and the full story coming up at 6 17 your top national story. Lawmakers are working across party lines at the White House in order to get a covert relief bill passed. CBS News SKYLAR Henry has the latest group of Republican senators is meeting with the president and vice president at the White House to discuss their $600 billion covert relief counterproposal. It's an exchange of of ideas and opportunity to do that. What this meeting is not is a form for the president to make or accept an offer. Senate Republicans have balked at the $1.9 trillion price tag of President Biden's proposal. Both plans call for $160 billion for covert vaccine distribution, testing and PPE supplies. Key differences in the GOP proposal includes smaller direct stimulus payments with a lower income cut off and lower weekly unemployment insurance payments on Lee lasting through June. More news Now with KFBK is Joe Michael's getting more than 40,000. Californians have now died from covert 19. That's one in every 1000. Even so, kfbk is Greg Fishman tells us. You see, Davis research finds up to 38% of residents or hesitant are unlikely to get vaccinated. The hesitancy about the vaccine seems to say. Them from how quickly they were developed. Doctor Dean Blumberg, a UC Davis epidemiologist, says. There's a reason that happened so fast. The whole world dropped everything to get these vaccines out there, and basically an unlimited amount of money was put Towards developing these vaccine. Anthony right from Health Access, California says the vaccines were fully tested and they work and they're safe. He also says there's still not enough vaccine for everybody who wants it to get it right now. I hope that we can get past this moment of scarcity in a few weeks or months rather than have that last into the summer. Or into the fault, right says for right now you have to be over 65 or meet some other criteria to be eligible for the covert vaccine. Greg Fishman News 93.1 KFBK. Many school district officials in California say they won't be applying for a share of $2 billion in grants to help reopen their schools. Governor Gavin Newsom's deadline for grant applications is this week. Some educators say the program won't cover the costs associated with re opening their campuses. The amount of testing PPE and other safety measures needed far exceeds what the grants will pay for it. There's also concerned that the new variants of the Corona virus will increase infection rates that far surpassed the state's reopening requirements. Unions are becoming more aggressive in their stance on vaccines for teachers after Governor Newsome outline plans to reopen schools Plaster County School Superintendent Gail Garba Lino Mojica says it was disheartening when Governor Newsome announced everyone 65 over it become eligible because it bumped teachers down the list. Same time we have then all the sudden are outside of the approved plan and providing the vaccine to a group of individuals who are undoubtedly very necessary that they receive the vaccine as well. But we got bumped out. Even Fisher of the Sacramento City Teachers Association says While he doesn't know it to be a fact, he thinks the requirement for teacher vaccinations may end up being worked.
NewsRadio KFBK
"davis research" Discussed on NewsRadio KFBK
"To take you all the way to the American River, and after that, you're pretty much out of it. We'll see how it shapes up here in the next 10 minutes with Hey, traffic on the tents, every 10 minutes mornings and afternoons. Dana has news 93.1 kfbk. Tonight. Rain will arrive in the late evening Well, ceelo tonight of 50 to 54 tomorrow Mostly cloudy skies with a couple of showers tomorrow will reach a high 58 to 62 Wednesday Mostly cloudy with a couple of afternoon showers Wednesday will reach a high 53 to 57 I'm AccuWeather's Drew Shannon News 93.1 kfbk. 66 in Sacramento, 64 fulsome in 68 in Elk Grove. For one, we start with your top local story. Homeless advocates are now calling for the resignation of Mayor Darrell Steinberg and City manager Howard Chan after the decision to not open a Sacramento warming center last week, led to two homeless people dying. What I'm going to do is continue to do the very, very best I can To respond to this public health emergency as I have done for four years. I mean, I think more than any other elected official in this region. Paper case. My blind goes in depth on that story For 17. Meantime, your top national story a group of Republican senators are meeting with the president and vice president at the White House today. To discuss their $600 billion covert relief counterproposal. CBS NEWS Skylar Henry has the latest differences in the GOP proposal include smaller direct stimulus payments with the lower income cut off and lower weekly unemployment insurance payments. Only lasting through Jew were targeted to the needs of the American people treating our tax dollars as if they're our tax dollars, not just money to spend The president as consistently called for bipartisanship and covert relief negotiations. But the Biden administration also cautions against passing a bill that's too small. Congressional Democrats say they may act on the president's proposal without Republican support in a process called budget reconciliation, which would allow the plan to pass the Senate with a simple majority. The news continues. Now with your Michael's look pretty Dodger Stadium in Los Angeles has become one of the biggest covert vaccination centers in the nation. But over the weekend, protesters blocked access for a while and prevented people from getting in gave because Greg Fishman tells us it's just the latest issue slowing the vaccination rollout, in addition to real shortages of the vaccine and confusion over who is eligible and how to get it. There's also new UC Davis research showing as many as 38% of people are hesitant or unlikely to get the covert vaccine. After Dean Blumberg is a Children's epidemiologist with UC Davis health. It's an intellectual decision as well as an emotional decision, and when you're vaccinated it, it feels good. Speaking from personal experience, Anthony Wright is with health access California and he says, yes, it's a personal choice for those who don't want to get the vaccine And for those who do, there's obviously room for protest and for free speech, but it shouldn't be by blocking people from getting lifesaving healthcare. State Senator Richard Pan, a medical doctor issued a statement calling the protesters who blocked access to the vaccination site. Domestic terrorists Greg Fishman News 93.1 KFBK Unions are becoming more aggressive in their stance on vaccines for teachers. After Governor Gavin Newsom outline plans to reopen schools, David Fisher of the Sacramento City Teachers Association was asked if education or or not Educator. Inoculations will be a deal breaker for returned Ian Person instruction might be possible. Other arrangements are made to mitigate the risk to students and to the factory members that we could start to reopen, potentially in some capacity even before all educated her vaccinates. Fisher thinks the requirement for teacher vaccinations may end up being worked out at the legislative level, although he doesn't know that for a fact. After initial reports that a plaster county man died after getting the covert 19 vaccine officials are confirming his death is not linked to the vaccine, Plaster County sheriff's Office releasing a statement confirming that the covert 19 vaccine didn't factor into the death of a 64 year old man last week. Clinical examination and lab results show The man had underlying health conditions and was previously diagnosed with covert 19 weeks before receiving the vaccine. The unnamed man was a health care worker who died only hours after getting the inoculation. Well after a clear weekend, more rain is making its way to the Sacramento Valley tonight. Meteorologist Eileen's Evora tells us the rain won't hit until late this evening and make the biggest impact in the morning. Overnight. We'll get the rain, and that means the commute tomorrow will be soggy. It'll be wet of occasional rain in the morning. Some showers in the afternoon but also some breaks in the clouds as well. It's not gonna be a total washout of a day in the valley. The foothills, however, will hang on to a steady arrange for most of tomorrow. That's where we could see more than an inch of rain forest says This system isn't likely to be nearly as deficit Dating is last week's storm, with only several inches of rain expected in the Valley and snow in the Sierras, this time without high wind gusts. The Oroville Dam is getting an additional $308 million in federal funds. The money comes from the Federal Emergency Management Agency, and the extra funding would be used for spillway repairs and reconstruction. The funds are on top of the $260 million that FEMA has already committed to the lower portion of the spillway. Massive erosion in the spillway forced the evacuation of more than 180,000 Californians four years ago. It's four or six on the KFBK. Afternoon news with Kitty O'Neil Alright Joe Michaels. Thank you. And finally, singer Tony Bennett has Alzheimer's disease, CBS news correspondent Wendy Gillette. Has more on today's announcement. 0 18 time Grammy winner Tony Bennett has been battling Alzheimer's disease for four years. His wife, Susan Benedetto, broke the.
The Afternoon News with Kitty O'Neal
Anti-vaccine protest briefly shuts down Dodger Stadium vaccination site
"Look pretty Dodger Stadium in Los Angeles has become one of the biggest covert vaccination centers in the nation. But over the weekend, protesters blocked access for a while and prevented people from getting in gave because Greg Fishman tells us it's just the latest issue slowing the vaccination rollout, in addition to real shortages of the vaccine and confusion over who is eligible and how to get it. There's also new UC Davis research showing as many as 38% of people are hesitant or unlikely to get the covert vaccine. After Dean Blumberg is a Children's epidemiologist with UC Davis health. It's an intellectual decision as well as an emotional decision, and when you're vaccinated it, it feels good. Speaking from personal experience, Anthony Wright is with health access California and he says, yes, it's a personal choice for those who don't want to get the vaccine And for those who do, there's obviously room for protest and for free speech, but it shouldn't be by blocking people from getting lifesaving healthcare. State Senator Richard Pan, a medical doctor issued a statement calling the protesters who blocked access to the vaccination site.
WIBC 93.1FM
"davis research" Discussed on WIBC 93.1FM
"Is being withheld for the time being. If you have any information in the case, call state police or Crimestoppers, Kirk Darling 93 WBC Mobile news. State Police also released a photo taken on that cell phone from several sources. They put together a composite sketch of the man they believe killed German and Williams. It was released in July and brought in even more tips to add to the thousands they had already gotten. In late September, A man named Daniel Nations was arrested in Colorado. He had threatened someone on a trail there, and he may have possibly been in Indiana. When the girls were murdered. State police travel to Colorado to talk to her, then dozens of tips that we worked out that they were as promising or more promising than this one. Captain Dave burst in talk to reporters. Once the investigators got back, that's the whole purpose of investigating. I understand why elements of the public felt there's an Indiana connection thing happening in a park like environment. He has a similarity to the sketch. Oh, this must be him. That's not how or she may work that way on TV, but in real life criminal investigations. It's a long, painstaking process. This scares me because I don't want to be somebody in the community because I meant what what we're all going through. It's gonna be worse. Finding out that somebody you lived around could do something like this. There's this notion that this is cold. It's not cold. It is not going. This is not going to be cold on the one year anniversary of the murders in the woods near where Abby in Libby's bodies were found, if if all of you closed your eyes for just a moment, he thought of the family member, but you didn't think of them from the neck up. You would know how they stand in the closed a war and their posture. State police Superintendent Doug Carter, you would know that voice I would know it if it was my father, just like you would know if he was short, making another plea for whomever is responsible to come forward or for whomever has information leading to that person to call them. You see, annoying all in my career. I don't ever remember having the photograph of the person that we believe is responsible. I don't ever remember having the voice of the person that we think is responsible or having a sketch of the individual that we believe is responsible Man in the composite sketch is 5 ft. 6 to 5 Ft. 10 182 £220 with reddish brown hair. So is those tips continue to come in. We'll continue to work from the very, very best that we can. We'll bring detectives in from all the post around Indiana that I'm responsible for the local law enforcement entities that have resources will bring them all together. We'll go out after the tips that we have. I believe if she were able to speak, she would ask people. Please give her the one minute she always asked for to really study the picture and listen to the audio clip If you have any information about who killed Abigail Williams or Liberty German called the Indiana State police. Indiana. Cold cases. Written and produced by Chris Davis. Research by Ashley Fowler, Kurt Darling and Chris Davis. Narrated by Ashley Fowler, CJ Miller, John Herrick and Kurt Darling. If you have any information on any of these cold cases, please pick up the phone and call police. Little flexibility can go a long way by refinancing. Your newer used out alone with 10 said. You can lower your monthly payments for more flexibility in your budget. You.
NewsRadio KFBK
"davis research" Discussed on NewsRadio KFBK
"Opening up in anticipation of good weather and good business. The first weekend after the tightest of covert 19 restrictions have been lifted, but In some cases in the downtown core. They're boarding up their windows, worried about the potential for violent protests. As we approach your inauguration day can't be case Mike Blunt has been talking to local businesses, and he'll have that story for you for you this afternoon. Meanwhile, Sacramento County District Attorney and Marie Schubert says If there is any law breaking around the capital or anywhere, she'll prosecute violators to the full extent of the law. In a news release, she said the violence that the U. S Capitol was despicable. Hey, school teachers in El Dorado County is accused of possessing child pornography. The elder out of county Sheriff's Office as union mine High school teacher Ryan pulling was arrested Thursday after investigators discovered some video traffic and weather together Now here's Brian Nobles. Okay, sorry about that. Brought to you by U C. Davis Health right now. 39 29 California Avenue That's going to be between Fair Oaks Boulevard Dead Center. Looks like a non injury accident somebody out of their vehicle. Just be careful. Also, South shingle Road and Memory Lane animal has it. We just don't know what kind of the animal control people have been called Eastbound Cap slow through Midtown westbound, heavy as you come in from El Camino Avenue to the American River, join one million people across the nation to change the future of health and roll in the all of US UC Davis Research program, the largest of its kind, where what researchers learned Could improve health for generations to come. Visit all of us UC Davis dot com Traffic on the tens, every 10 minutes mornings and afternoons staying ahead snooze. 93.1 kfbk thinks her clouds and sunshine this afternoon hazy with ia 62 to 66. Easily cleared, said I'd like to have fun. Well, 44.
NewsRadio KFBK
"davis research" Discussed on NewsRadio KFBK
"Bills to 202 100. Good luck from California's capital City. This is Sacramento's news 93.1. Hey, FBK 4 30 now, kfbk. Good afternoon. I'm Kitty O'Neil with a cave afternoon news stories now trending President Trump. Has just released a new video on Twitter after being blocked. We'll have that for you and all the other national top stories, as well as the move to invoke the 25th amendment in order to remove the president from office, traffic and weather together First. Let's start with Dana has no idea about U C. Davis Health Pain Westbound 80. We said Douglas move are now apparently was closer to Kirby, where that accident was in the Northeast Curd corridor. And it is a non injury, but it is affecting traffic, big time and it's backed up all the way to 65. I mean, it is slow right now, even though they're telling us the roadway has been cleared, so it's gonna be sluggish from 65 all the way to Kirby. Joined one million people across the nation to change the future of health enroll in the all of us, you see Davis Research program, the largest of its kind, where what researchers learned could improve health for generations to come visit all of us, you see Davis dot com traffic on the tens Every 10 minutes mornings and afternoons. Dana has news 93.1 kfbk Tonight will be mostly cloudy with a shower late tonight. Well, ceelo 42 44 Tomorrow cloudy in the morning with intervals of clouds and sun in the afternoon. Tomorrow we'll see a high 59 to 63 Saturday areas of mourning Following otherwise sun and clouds will see a high Saturday 58 to 62. Mackey Weathers Drew Shannon News. 93.1 KFBK 48 in Carmichael 50 in Loomis 50 in ranch, Cordova. It's 4 31 now at KFBK. And your top story Just a few moments ago, President Trump released a video on Twitter appears to be an address to the nation following all those herring events that unfolded yesterday at the Capitol and after his Twitter account was blocked. I'm going to play you the video now. I would like to begin by addressing the heinous attack on the United States Capitol Like all Americans, I am outraged by the violence, lawlessness and mayhem. Immediately deploy the National Guard. And federal law enforcement to secure the building and expel the intruders. America is and must always be a nation of law and order. The demonstrators who infiltrated the capital have defiled the seat of American democracy to those who engaged in the acts of violence and destruction. You do not represent our country And to those who broke the law you will pay. We have just been through an intense election and emotions are high. But now tempers must be cooled and calm restored. We must get on with the business of America. My campaign vigorously pursued every legal avenue to contest the election results. My only goal was to ensure the integrity of the vote. And so doing, I was fighting to defend American democracy. I continue to strongly believe that we must reform our election laws to verify the identity and eligibility of all voters and to ensure faith and confidence in all future elections. Now Congress has certified the results and new administration will be inaugurated on January. 20th. My focus now turns to ensuring.
NewsRadio KFBK
"davis research" Discussed on NewsRadio KFBK
"Political correspondent Ed O'Keefe is reporting from the network seen as senior foreign affairs correspondent Margaret Brennan, that Cabinet secretaries President Trump's administration are discussing invoking the 25th amendment to remove the president from office. There's been nothing formal presented to President Vice President Mike Pence, though. The report said. Meantime, Sakamoto Congresswoman Doris Matsui is joining those calling for vice president Pence to invoke the 25th amendment and convene the Cabinet to remove Donald Trump from office. It's 6 17 now at KFBK Well, Democrats have swept the Georgia run off elections today, giving the party control of both chambers of Congress and the White House later this month. Kate Decays Joe Michaels is live in studio with local reaction. Well, Kitty after Raphael Warnock was called the winner last night in his bid to oust Republican Kelly Leffler, the major networks air today, projecting Jonno Soffa winner over David Perdue. The results leave the Senate in a 50 50 deadlock, giving soon to be vice president Kamila Harris, the tie breaking vote and the Democrats control of both chambers of Commerce and the White House. KFBK Ace political analyst Gary Dietrich says the ramifications are immense, but it's going to be a huge backlog A big wish list as they call it a new here these two words often in the next few weeks and months go big. Democrats know that just 22 months Now we're gonna have a midterm election that based on historical trends and current presidents, Republicans could well retake control of one if not both of these palaces. The Dietrich says the president elect is likely to take a bipartisan approach. Joe Biden knows very well. If he just goes all in on an agenda completely alienate Republicans. All that is going to do it further stoke the furnace for Republicans. And by the way, that is not Joe Biden style. That wasn't his style when he was U. S senator was this Sally Morning this vice President Dietrich believes Democratic control will benefit Californians, particularly when it comes to battling covered 19. You're gonna see money, almost certainly. Going to state and local governments and a covert response that we haven't seen to date. It's gonna take a lot of pressure off of our legislator in the governor who want to do more. There's a lot of ways that this state can use funding to move forward, even administration of vaccines. Sacramento Mayor Darrell Steinberg says Democratic majorities will result in direct day to the capital city and surrounding region. We're going to be able to keep our public safety personnel working, and we're going to be able to fill holes and fill gaps. May be able to provide those essential services to people. We're going to be able to invest in an affordable housing strategy, and in more resource is for our neighborhoods in economic development. Mayor Steinberg is also pleased with the potential bigger picture. Most importantly, it's going to give president like fighting the opportunity to govern. Certainly not with large majorities. They're still gonna have to work across the aisle, and that's the Bible away. But at least he will have a better opportunity of not facing direct obstruction, and I think it's a good thing. Dietrich believes President elect Joe Biden will face tremendous pressure on many agenda items that Democrats want to move on and move on quickly. Question is going to be how Biden responds to what I'm going to be a very long list of demands not only from his own party in Congress. But from legislatures and governorships controlled by Democrats around the country, including large states have been very impacted. Like California All in all, it appears the final set elections. All in all, it appears the final set of elections for the upcoming term are opening the door for Democrats and likely to save the affordable care act, at least through the mid terms getting all right. Thank you, Joe. Michael's there. 6 20 traffic and weather together Right now we'll head over to our traffic center for Dana House. And brought you by U C. Davis Health and right now looking at your freeways. Well, we have had some issues. And as we look at our freeways downtown to display it's still gonna be about seven minutes on eastbound Cap City. That's all good If you're going to Roseville eight minutes out there that's not bad at all did have an earlier collision North found 65 on He's found a tea that is causing a bit of a backup. So be prepared otherwise going down the hell Grove south on I five again heavy traffic because of the crash around Centerville, and it's backed up. Not quite. But all Almost all the way to 50 At this point, they're on south and I five downtown to Folsom 18 minutes on eastbound 50. If you're going to Woodland at 16 minutes north on I five year of Main Street and at two makes Boulevard in Davis Westbound 80 gonna be a nine minute ride and joined one million people across the nation to change the future of health and rolling the all of us, you see Davis research program. The largest of its kind, where what researchers learned could improve health for generations to come. Visit all of us, you see Davis dot com Traffic on the tens, every 10 minutes mornings and afternoons. Dana has news 93.1 kfbk. Thank you, Gina. Now, your KFBK forecast tonight was heat low clouds breaking with areas of late night fog. Expect a low tonight 39 to 43 areas of morning font tomorrow, otherwise partly sunny, high 54 to 58. Brought a cloudy a shower in spots in the morning, then intervals of clouds and sun for the afternoon. We'll see.
NewsRadio KFBK
"davis research" Discussed on NewsRadio KFBK
"Office. Alright, ABC. Legal Alice Royal Oaks there. Thank you so much for your time. You bet. And that brings our time to 5 50. We'll check some traffic and weather together. It's in every 10 minute occasion. Here's Dana has it is an occasion is whatever we talked to Dana I dressed for riding by UC Davis held downtown to the split seven minutes. Eastbound Camp City Man. It's a race split. The Roseville is gonna be eight men and still have some slowing in the opposite direction there. At Douglass Boulevard. That area hasn't cleared up yet, And that's going to stress about Curtis Kirby. It looks like, uh, downtown l grope south on I 5 11 minutes and 10 minutes on 99. That's pretty much optimum. You're going to fall from 18 minute ride eastbound 50 60 minutes going to get you downtown to Woodland north down I five now sat down by five. We have a report of a traffic hazard there. At Airport Boulevard. It looks like it's Ah motor home that's on the shoulder, partially blocking the lanes. Be careful otherwise downtown and Davis westbound 89 minutes, enjoying one million people across the nation to change the future of health and roll in the all of us. You see Davis Research program largest of its kind, where what research has learned could improve health for generations to come. Visit all of us, you see Davis dot com Traffic on the tens, every 10 minutes mornings and afternoons. Dana has news 93.1 kfbk. Night. We'll see. Mostly cloudy skies Expected low tonight of 41 to 45 partly sunny skies on tap for tomorrow tomorrow or reach a high 54 to 58 Couple of.
Money For the Rest of Us
How to Buy in a Hot Housing Market
"I recently got an email from listeners listening about six months or so has listened to well over one hundred episodes of the show. He writes that he's relatively new to investing. He's been investing for three years now, as he graduated from college in two thousand seventeen. He's been saving for his first home purchase in Austin. Texas. He writes the Austin Housing Market is very hot at the moment arguably one of the hottest markets in the country even with the recent effects of covid nineteen. He points out the median sales price in Austin has increased over eleven percent since this time last year, and there are forty five percent fewer homes on the market now versus a year ago he would like to buy a house in early twenty, twenty one. But after seeing the market conditions, he's worried that he might be entering the real estate market at the wrong time. He has heard of stories from realtors in home buyers about individuals and families putting offers of ten to fifteen thousand dollars over the asking price for homes that aren't even on the market yet only to find out, they did not win the bidding war. In short, he continues I'm wondering if you could offer some. Rules of thumb to look for as a first time home buyer in I. Hot Market such as Austin. I'm conflicted because I don't want to buy at the wrong time and potentially lose value in my home only after a few short years however at the same time if this market to continue at this pace for several years to come buying in the near future, I think might be the right move. He points out he's tired of handing over his money to landlords and would like to start building equity in a home to diversify his current return drivers. Austin is not the only hot housing market. There are a number of them in fact, nationally in the US housing is on fire. In August of two, thousand, twenty, there were five point nine million homes sold on a seasonally adjusted annual rate. That's the highest number of home since two thousand six and it's being driven because the average thirty year fixed rate mortgage at the end, of August was two, point, nine, four percent. The median single family home price in the US is up eleven point seven percent in the past year ending August twenty twenty. That's the biggest annual increase in twenty thirteen. Sales of newly built homes are up forty, three percent year over year the highest increase since one, thousand, nine, hundred, two. There have been about one million new homes built in the past year highest level since two, thousand six. The market is being driven because of the low interest rate, which is pushing up the value of all assets. Plus there's a desire for many given covid nineteen to move out of their city, for example, out more into the suburbs or the country. So increased demand and reduced supply because of concern regarding the pandemic. Some. People don't want potential buyers traipsing through their homes. Others don't want to sell because they're not sure they'll be able to find something to buy. The frenzy to purchase homes has pushed up valuations if we look at the value of household real estate. So the total value of houses and condos as a percent of economic output in the US GDP, it's a hundred and fifty eight percent. Total value of all houses divided by GDP is one hundred and fifty eight percent that's up from hundred and forty percent at the beginning of the year the all time high was one, hundred, eighty percent in two, thousand, seven, and the recent low was in two thousand twelve of one hundred, fifteen percent. This is data from Ned Davis Research. The. So the value of the housing stock relative to GDP is approaching that all time high of two, thousand seven, and then if we look at the case Schiller Index, it has appreciated since nineteen fifty-three on a real net of inflation basis of about point seven percent per year. That's the trend line. So we statistically create a trend line again, data from Davis research that trend line increases at point seven percent per year, and then we can see well, how much do current prices differ from that trend line and right now we're fifteen percent above the trendline. In two thousand, six, US home prices were forty percent above the trend line and then by twenty twelve, two, thousand, thirteen, they had fallen two point, nine percent below the trendline.
Money For the Rest of Us
Are We Being Forced to Buy Stocks
"Last week in the insiders guide email newsletter I pointed out the expensive valuation of US stocks. Specifically I showed that the forward price to earnings ratio the P. E. based on earnings estimates over the next year was twenty, two point nine. That's three standard deviations above its average of sixteen times going back to two thousand, three at data from Ned Davis. Research. In reply to that email, Andrew wrote regarding stocks being expensive on a forward e true but there's no alternative. What do you do with bond yields near Zero and the vanguard total stock market? Index. Fund. Yielding two percent. By VPI, the vanguard total stock market ETF. JASA forwarded to me a paper by Bridgewater says, which I'll discuss in more detail later in this episode. I had a similar question from a plus member in the money for the rest of US plus member forums. He wrote. So the Fed signals that it wants to keep rates low for three more years. Canada's pension. Fund is reevaluating bond-holdings and you've got an army of small and large investors bidding up companies like Tesla and snowflake to absurdly hype. All this combined to make me think are we as individual investors now forced to buy equities? Is this the mother of all bubbles in which there's literally no other things suitable for purchase. There is a lot of speculation in stocks right now. Jim. Bianco Bianca Research pointed out that small traders are dominating the options market. Bear most of the trades right now and seventy five percent of that volume is an option contracts expire in two weeks. So short term bets. Look at South Korea and article from Bloomberg pointed out that day traders in South Korea have accounted for eighty seven and a half percent of the total value of stocks traded in the first part of September. You. Some men chief strategist at Samsung Securities said retail investors appear to be seeking short-term profits after hearing their next door neighbors earned lots of money from stocks after the March selloff. Receiving a similar situation in India. The Financial Times reports that the number of individual investor accounts rose twenty percent from the start of the year, the twenty, four million, and they point out that around the world, an influx of investors are investing in stocks for the first time. Are. We in a bubble? Is it a speculative frenzy? Are we forced to buy these stocks because there are no alternatives with also? One of the things I like to do investing is think about what's different this time what's unusual? What what doesn't fit the pattern? I had two instances of investing this past week where something didn't fit the pattern Lebron, I were driving up in the mountains of Montana and a small bear cub really bolted right in front of us no idea what it was running from. My son suggested he was running from the year twenty twenty. And then few days later at our front door, there were seven cows drinking water from the driveway eating our bushes. There are no cows around us. We live in an area that nobody keeps cows but there they were right in front of my house. Turns out. They had strayed from the National Forest, which is not very far some outfitters have grazing rights and drop off the cows and leave them there all summer pick them up come late October, and they had straight down because some of that newly cut barley fields, but it didn't fit the pattern. Cows at your front door. Don't fit the pattern. What's different now on investing front that could justify more expensive valuations for stocks. Well, for the first time, ever US interest rates are near zero from short term out to ten years. This is known as a flat yield curve, which is an unusual. We've had flat yield curves in the past. But it's flat near zero. There was a flat yield curve where ten treasury bonds and cash for yielding similar back from two thousand and five to two thousand seven. But yielding four percent. And from two thousand to two, thousand, two cash and tenure treasures were yielding five to six percent. Today, the ten year Treasury yield is zero point, six percent and cash is zero. The Federal Reserve intense to keep it that way. The recent policy statement suggests that they will keep their policy rate. What's known as the Fed funds rate near zero until labor market conditions have improved. The. Unemployment rate has dropped close to to to maximum employment and that inflation has risen to two percent is on track to moderately exceed two percent. They included their economic and rate projections and all, but four officials on the committee. Expect the Fed funds rate is still be near zero at the end of twenty, twenty three. Rates are low across the board. It is a different investment environment than we have ever faced before. And that's what this paper by bridgewater associates was about. It was titled Grappling With the New Reality of zero bond yields virtually everywhere. It was written by Bob Prince Greg Jensen Melissa fear, and Jim Haskell. I. Discussed Bridgewater Associates Founder Ray dallies views back in episode three, hundred changing world order in this paper bills off that. Before we continue let me pause and share some words from one of this week sponsors masterworks. I've shared on the show how low interest rates are on bonds and yields and cash about zero money has to be invested somewhere in preserving your wealth is as hard as it's ever been. That's where masterworks comes in. If you're looking to diversify out of the traditional public markets, then take a look at masterworks. They make blue chip art investing possible works by artists like Banksie, 'cause and Warhol. Art is a one point seven trillion dollar asset class that has performed better than s five hundred by one hundred and eighty percent between two thousand and two thousand eighteen according to Citibank.
Bloomberg Businessweek
Buffett's Berkshire doubles profit, repurchases $900 million stock in third quarter
"Wall Street analysts were looking for AT and T's political action committee is pulling its support from Iowa Republican Steve king. It's the latest corporate down here to end to contributions to the congressman over his embrace of white nationalists and for rhetoric that has been denounced as racist. President Donald Trump's newfound zeal to resolve his trade war with China risks hitting some familiar obstacles. And that includes himself people familiar with the matters that he directed his cabinet to draft potential terms for a trade deal. He could agree to at the conference in Argentina later this month. But pessimism remains. Ned Davis research is turning bearish on global shares for the first time since two thousand nine the year. The bull market began the story from Bloomberg's Charlie Pellett. Tim Hayes the firm's chief global investment strategist says investors should sell stocks and bonds because the equity decline is only halfway done. He cut the recommended allocation for stocks by five percentage points to fifty percent below the fifty five percent level the firm considers its normal allocation, he says investors should earmark forty percent of their money to bonds and ten percent to cash Charlie Pellett. Bloomberg radio. Global news twenty four hours a day on air and it ticked up on Twitter. Powered by more than twenty seven hundred journalists and analysts in more than one hundred twenty countries. I'm Susanna Palmer. This is Bloomberg.