36 Burst results for "Nymex"
Bloomberg Radio New York
"nymex" Discussed on Bloomberg Radio New York
"Just check the prices right now. Nymex crude out of the Cushing is up 9 tenths percent, 73 64 a barrel. Brent, the current international benchmark is 6 tenths of a percent higher trading at 78, 78, Karen. And it is 5 48 on Walsh street. It is Thursday, march 30th, and march is women's history month and every day this month, we're celebrating significant moments in women's history. Now, with your installment for today, here's Bloomberg's Lisa Matteo. On this day in women's history in 1911, Ellen swallow Richards dies. She was the first woman admitted to Massachusetts institute of technology, earning a bachelor of science degree in 1873. Two years later, swallow Richards continued to break barriers, asking the women's education association of Boston for help in creating a laboratory at MIT for teaching women in chemistry. Her efforts were a success and the women's laboratory opened in 1876, swallow Richards taught chemistry and mineralogy in that lab until it closed about 7 years later. She published several books and pamphlets and continued teaching sanitary chemistry at MIT until her death in 1911. That's today in women's history, I'm Lisa Mateo, Bloomberg radio. Alicia, thanks. We'll up next on Bloomberg daybreak, the LEGO stories make a news today, stay tuned for our day label Bloomberg law brief from Bloomberg law and a closer look at the order for former vice president Mike Pence to testify before a grand jury. Futures are moving higher this morning S&P futures are up four tenths of a percent and this
Bloomberg Daybreak
Fresh update on "nymex" discussed on Bloomberg Daybreak
"In breaking news 24 hours a day at Bloomberg .com on Bloomberg television and the Bloomberg Business Act this Bloomberg Business Flash 540 on Wall Street I'm Karen Moscow stocks and bonds retreating as traders pause after blockbuster rally and debate the case for interest rate cuts Bitcoin surging past $41 dollars while gold briefly touched an all -time high we check the markets all day long here on Bloomberg S &P futures down a quarter percent or 12 points Dow futures down to tenths of a percent or 63 points and Nasdaq futures a third of a percent or 60 points the DAX in Germany little change ten -year treasury down 1230 seconds yield 4 to 4 % yield on the two -year 4 .59 % NYMEX crude
Bloomberg Radio New York
"nymex" Discussed on Bloomberg Radio New York
"Ten year treasuries down 5 30 seconds yield 3.49%, nymex crude is up a half percent at $82 8 cents a barrel. That's a Bloomberg business flash. Now here's Michael Barr with more on what's going on around the world, Michael. Thank you very much, Nathan, the suspect in a ballroom dance club shooting near Los Angeles that left ten dead has shot and killed himself inside a van. Los Angeles County sheriff officials identified the suspect as 72 year old who can Tron. A new batch of questions for President Biden after more documents Mark classified were found at his home in Delaware. It is said the total number of known classified documents found since November is between 25 and 30. In the NFL playoffs, the bills were knocked out after losing to the Bengals 27 ten. The forty-niners beat the cowboys 1912 to advance. In the NBA, the nets beat the warriors one 21 16, the nets or Nick's loss in the NHL, the Devils beat the penguins in OT to one. The bruins won. Global news. 24 hours a day on air, and on Bloomberg quicktake, powered by more than 2700 journalists and analysts more than a 120 countries. I'm Michael Barr, this is Bloomberg game. All right, thank you, Michael. It's 6 23 on Wall Street. I made me Morris, and this is Bloomberg daybreak. Ken Griffin's U.S. hedge fund Citadel made $16 billion in profit after fees last year, the largest annual gain ever made by a hedge fund manager, joining us now, Bloomberg markets, reporter Valerie titel. Valerie, thank you for taking the time with us. Break this down for us. How did this work? Because this was a volatile year, especially for the smaller outfits. What did Citadel do right? Yeah, it was an extremely volatile year, but it turns out Citadel's model was just where you needed to be. They run a multi manager model, which means they consolidate a large amount of top portfolio managers. Each with their niche focus and niche trading style under one fund, which allows Citadel and allowed them last year to allocate capital within that fund to specific key winning strategies when the time was exactly right. As you know, if you weren't exposed to the move and bonds, the move and the dollar last year, it was going to be very hard for you to outperform and post these incredible returns. But this is all overlaid with a very ruthless risk management approach with some very tight stops that prevents blow ups from having a broader impact on the fund. But this multi manager model is kind of a new thing. Over the last decade, the last two decades, it's moved into be now the dominant strategy in the industry. It's due to take the baton from these equity long short hedge funds, which struggled last year when the equity bull market seemed to come to an end. But you can not argue now against the success of the multi manager and Citadel has made that clear in the last two years. You know, you are the second person this morning to describe this technique as ruthless. Is that the way that they're going to have to go from here on out? Well, it's ruthless in a way that when they hire these top traders, they give them a small amount of capital. And if things go right, they increase that capital 5 times ten times. But if things go wrong, they say goodbye and they close the door. But all of that really allows them to end up at the end of the year, having allocated capital to where the most momentum was going. And last year, if you were not exposed to those kind of moves and fixed income that we saw, you weren't going to outperform. So maybe it is ruthless, yes, but it signals such a big shift of what's happened in the hedge fund industry. We've come a long way from the traditional model of the past, which was focused very much on a single manager, a very flashy name generating flashy returns. And it's really no longer about that. The power now is within these multi managers. They have a sizable chunk of the hedge fund landscape so that Citadel DE Shaw millennium .72, a lot of the names that we've heard of. It's really hard to compete against them now for capital as they attract really a lot of the streets top talent. Okay, so what are you going to be watching for then in the coming weeks? Look, it's a fresh year, we'll be on our toes watching where the next wave of capital allocated goes to, as you know, macro funds also performed very well last year because of their exposure to bonds, FX, commodities, and niche knowledge of how to trade a fed tightening cycle. So any other big fund launches that come to fruition in the first quarters of this year who maybe seem to be holding on to the fact that macro funds could still be pushing this single manager model, but if we look at the trends that have come to be in the last few years, even these single manager funds are closing up shop and joining these multi managers so they've really just had such a sizable influence over the market. All right, Bloomberg markets, reporter Valerie ty tell. Thank you so much for taking the time with us this morning. S&P futures are lower by 5 points. Now futures also lower 16 NASDAQ features down 13. Now up next we're going to talk more about Citadel's turnaround. That's $16 billion
Bloomberg Radio New York
"nymex" Discussed on Bloomberg Radio New York
"Two and a quarter percent, and as far as nymex crude right now that's up a dollar 42, 75, 18 a barrel. We check the markets for you. All day long, right here on Bloomberg radio, and I'm John Tucker. That's your Bloomberg business flash, mountain poll. All right, John Tucker, good stuff. We appreciate that as always, as John was just reporting markets moving higher. I go, go. Gives you the world equity indices. And I look at that because it gives you the world equity indices. It also gives you volume. And we've got volume S&P 17% above the 30 day average. So people are buying with some conviction here. I always want to see what volume is though compared to the same day last year. I'm going to ask the programmers what to do here because on the just shows you a comparison to the last 30 days. I think I can change something, but you hover over it. All right, let's talk rates here. Because I think one of the issues obviously. What's that? WB go? I and go. Yes, I am go. So that's cool. What is our Federal Reserve going to do? That continues to be a driver for this market. So what we'd like to talk rates and one of the folks would love to touch base with is pretty a misery managing director and head of global rates strategy at TD securities. Priya, I'm sure you guys at TD wrote a very nice year ahead outlook for rates. What was kind of the takeaway that you want your clients to take? Thanks for having me on. So it was about uncertainty. And I mean, the start of this year tells you we almost reached 4% now we're almost at three 50 on the ten year. So we were highlighting how the market's going to be really torn just to central banks will be in terms of the conflicting, which could be conflicting goals in terms of trying to get inflation back down and maintain the unemployment picture. So our view is that the economy is going to slow, but the fed, I think, will be unable to respond quickly or preemptively. And so that's why I think the long end is where we have rates much lower than consensus because I think that duration risk is going to look attractive if the fed is unable to cut rates soon. So we have the fed hiking to 5 and a half by the middle of this year. And then actually staying put through the course of the economy heading into a recession. But that still helps the longer end outperform because then the recession is longer, deeper. If you don't have any policy support and we don't think any fiscal support either. So it's the outlook was one of lower rates and the long end through the course of the year, but keeping in the back of our mind is less conviction, lots of, I think, cross currents will make the market volatile and I think the first week showed that it is a very volatile market. And final point I'll say is the global rate picture is also extremely important. The BOJ moved. The ECB is doing QT. So I think it's important for us not only to look at the fed and the U.S., but also keep an eye out for what global rates are doing, because the ends to have a big impact on the treasury market. Let's bring in Daniel DMA booth. CEO and chief strategist at quill intelligence to give us her take as well. And before we get to just the basic calls, Danielle, because I'd love to know both of your takes on doesn't the fed have to go 50 in February. What do you think about the global picture? How does that influence if at all Jerome Powell and co? Well, I don't know that it influences Jerome Powell and co as much as it should definitely play into investors thinking. We forget that in 2017, there was $2.1 trillion of quantitative easing globally injected into market. And that 2018 really started to get hairy towards the end of that year as other central banks were jumping onto the quantitative tightening bandwagon or shrinking their balance sheet. So it's the cumulative effect, regardless of how J Powell reacts or doesn't react given he is unlike his predecessors much more focused just on the domestic U.S. income and inflation here at home. But that doesn't change the calculus for investors and it's with good reason that we've never seen a global yield curve as we're seeing it today inverted. I mean, we've never seen M two growth back to 1959 here in the United States. At zero as of the end of November, it's clear that liquidity flows matter to the markets and I think investors would be unwise to really to dismiss them offhand and I agree with Priya. Throughout the rest of this year, your long maturity treasuries are just going to keep getting more attractive. Well, Priya, I mean, I'm in the camp that says, I think the fed has already done a pretty good job. They were aggressive. I don't think we're behind the curve anymore. And it's actually working. You can see the housing market rolling over. There's inflation coming down clearly peaking has peaked, why can't they pause at some point earlier rather than later this year?
Bloomberg Radio New York
"nymex" Discussed on Bloomberg Radio New York
"Year treasuries down 26, 30 seconds the L 3.57% yield on the two year 4.22% nymex crude is moving higher up 1.9% up a dollar 38, 75 67 for a barrel of West Texas intermediate. Comex gold's little changed up 30 cents at 1850 announced the Euro 1.0605 against the dollar, the N one 36.64, Bitcoin's down a quarter percent trading around 16,700. That's a Bloomberg business flash. I'm Nathan Hager, Paul, and pretty. Nathan, thank you so much. We appreciate that good stuff. Pretty Gupta sitting in for Matt Miller. We're here for the next couple of hours. Looking at this markets as Nathan was just pointing out, not a lot going on a little bit of red on the screen. Let's break it down for you. We'll do that with touch on a darier strategist for Bloomberg markets live. So touch on, I mean, we kind of had a tough week last week. What's kind of the feeling of the marketplace? What are the stories that you're looking at right now in this Monday morning? Yeah, so when I came in looked, there were some green on the screen, I'm like, wow, markets are finally feeling some holiday cheer, but then it didn't last long, right? If you look at the bond yields there firmly up. So then now that's transpiring into the stock market, which has paired its earlier gains and are now in the red. And that to me just brought back this talk to Bond correlation, which has been such a key story this year, right? And then we've seen that lately, this relationship has started working again, occasionally, but if you look at their correlation, either on the long term or on the short term, it still remains positive, so that tells us it will still remain a challenge for investors into 2023. So yeah, there's a big debate out there whether inflation has permanently changed this relationship or whether 2022 was a blip and next year with recession fears, spelling it to the market, maybe we'll see people heading for coverage in the bond market and this relationship will start working again. Tatiana are there any individual movers you're keeping an eye on? Yeah, so let me go with the movers to the upside just to bring some more optimism before Christmas. So I'm looking at madrigal announcing positive news in the Nash therapy. So that's basically a disease of fatter liver and they have positive phase three results in analysts really exciting they had both of their goals, which is rare for this disease. So that stock is up 218% right now. 218%. See, here goes my this is my BioTech theory. I'm looking at the HDS on the Bloomberg terminal of the holders who owns this thing. You know, and I'm just trying to, you know, there's some big index funds like Vanguard and BlackRock and capital group, but there's also a lot of smaller firms that I don't know. And they're probably more BioTech experts. You know, you know who's my favorite small cap investors out there. Artists and partners out in Milwaukee. Really, really good, small mid cap investors. Boom, they own 250,000 shares of this thing. Smart people. It's a good day for them. And another stock benefiting on top of that is Viking Therapeutics. They also have a similar drug in phase two development. So they are benefiting just on the back of a madrigal success here and I have to say the Nash market is really big and a lot of companies in this market. So those results do stand out. And Moderna earlier was up opened higher by about 5% in some of those gains just as the market turned. And that's on an upgrade from Jefferies on a potential rebound in 2023. Last week they posted some promising cancer vaccine results, which gave or raised hopes for investors that it's finally moving beyond COVID that that pipeline of mRNA is finally starting to deliver. I wonder. And I guess what I'm going to be paying attention to to the experts, the BioTech and the pharma experts like Santa zeli from Bloomberg intelligence is what role mRNA technology will have in some cancer Therapeutics going forward. It seems like there's some link. It seems like there's some positive momentum there, so we'll have to keep on top of those names. Yeah, that's the key question for Moderna always has been. And yeah, you could definitely use some good news. I mean, the stock is down 20% a year to date trailing both healthcare and BioTech stocks. So if that comes through next year, they will certainly have a lot to gain from that. All right, great stuff. Tatiana darier strategist for markets live joins us here in our Bloomberg interactive broker studio. All right, here's the latest across the Bloomberg terminal. Musk says no one wants top job, but some people have piped up. I mean, it just gets crazier by the day. He's got a, you know, a survey out there pretty saying, you know, if you want me to step down I'll step down and 58% of the respondent says, yeah, you should step down. So that's news. Then my question is, who wants the job? So we come back to the story because this story just keeps giving. Mandy Singh, senior technology analyst for Bloomberg intelligence and Dan Ives. Senior equity analyst at Wedbush securities join us here. Dan, I hate to keep bringing this up because again, but you've been one of the biggest supporters of this name of electric vehicles really educating investors over the last 5, 6, 7 years about the EV market, the potential, the upside here, but the fundamental call is being overwhelmed by the Elon Musk call. How do you view the last 24 48 hours worth of news just more the same, I guess? Yeah, look, I think it's been a Twilight Zone. Because I'd say like 80% of the sell off that we're seeing in Tesla is Twitter driven. I mean, and it would be a step in the right direction clearly from us to give up the range as CEO of Twitter. But look, this is a $44 billion nightmare that's just continues to increase. I think it's black eye from Musk, a black eye for Tesla. Mandeep, talk to us a little bit about this now private business here. Is there any sort of recovery? I think the last time we had you on, I want to say last week, you said that if this was a publicly traded stock, still, Twitter would be worth less than $10 a share, which is incredible. And again, Elon bought it for 54 20. And I think he's still looking for new investors, by the way, who are still looking at the same amount. But mandeep
Bloomberg Radio New York
"nymex" Discussed on Bloomberg Radio New York
"From the January highs. Do we haven't reached what I delicately call the puke point? The point at which investors want to regurgitate their last stock and never own another one. You haven't seen that capitulation. And with a recession likely to stretch into next year, it seems to me that there's a lot of downside. And among the individual shares on the move, most active, among the most active, Bristol-Myers Squibb, shares gaining the most in the 8 years the company's psoriasis drug has won approval from U.S. regulators. Let's look at the price of oil right now, nymex screwed West Texas of a dollar 46 88 $22 a barrel. The ten year yield at three 27 that's down three basis points. The two year, three 51, that's down three basis points. We check the markets for you every 15 minutes during the trading day right here on Bloomberg radio. I'm John Tucker, and that's your Bloomberg business flash, Matt and Paul. All right, John Tucker, thank you so much. We appreciate it. You got green on the screen where you're off our highs, but again, still a nice start to the week. Let's see what what's going out there with pretty Gupta she's on markets correspondent she joins us here in a Bloomberg interactive rover studio pretty. What are you looking at? Yeah, well, I wanted to take a quick minute and introduce my chart of the day actually because I think it's really important. Nice. Bringing it back full circle. But it is European Matt close your ears. This is significant because we're looking at a chart 1952 G hashtag BTV 1952 when you guys get to your terminal. At your desk, what's important to note and I'm going to describe it. You're looking at German and French power prices over the last two years. Basically, they go straight up into 2021, come back down just a little bit, and then this massive parabolic move into, well, right now, really. They've come back down from their August peak just to touch, but they are still at historically high levels. This is something we've talked about a lot when it comes to the European energy crisis. Wait, 1952? 1952. They've come down tremendously. Tremendously, but historically, they are still extremely high. And here's why this is important. This has everything to do with what you're seeing in gas prices and ordinarily for Americans. We would think that, while electricity has nothing to do with natural gas, that doesn't really make sense. But in Europe, the grid works so that all the renewable energy sources, the gas prices, or gas driven power plants. Oil prices go from the highest price. Right. And gas power plants have the highest price, so they drive the market, and
Bloomberg Radio New York
"nymex" Discussed on Bloomberg Radio New York
"Earlier today. You know, I think one of the interesting things in the U.S. right now last Friday's report doesn't suggest to us that the labor market is soft at this point. So the fed doesn't have a really difficult choice continuing to move. Yeah, right now we have the S&P 500 twenty one points lower. That is down 6 tenths of a percent. The downtown industrial average down 152 points. That's down half a percent. The NASDAQ composite index 120 points lower down to 4% right now. As we look right now at commodities, the crude oil space getting some relief at the pump. Nymex crew, West Texas is now about 17 cents a barrel right now, 86 71, and we check the markets for you every 15 minutes during the training day right here on Bloomberg radio. I'm John Tucker. That's your Bloomberg business flash, Matt and Paul. All right, John Tucker. Our Matt Miller was out shooting clays this weekend, so of course my first question is, do they shoot back? No, but the good thing is there's no guilt whatsoever. No tinge of late night. Sometimes when I shoot ducks, you know, I feel bad about it after. I mean, I eat them. So there's a good reason for it. But the clay is, they just go down. You're free to shatter them. Good stuff. Let's talk about these markets, not so good here, S&P off a half a percent David Katz. He's a president in chief investment officer of matrix asset advisers. David, it's good to chat with you again. What are you doing with these markets? It's been a tough few weeks here after a little bit of a bounce off the bottom in July, but how are you thinking about these markets? So we think the recent sell off and the decline in the last few days creates an opportunity for people to buy into stocks. If you had missed the original rally, you had a bear market in the first half of the year. You saw the market recover ten to 15% pretty quickly out of nowhere. You just gave back a lot of those gains. So if you were thinking about buying stocks, this is really the time. And the last three days over the last three days of market stuff, you had some pretty good reports, the employment numbers on Friday were that the economy was okay, but inflation was slowing. ISM number, again, the economy in a little bit better shape than people expected, but inflation is slowing and you had OPEC cut output or talk about cutting out but yet oil prices are flat to lower today. Those are three good data points. You have the stock market is off. We would buy into that weakness because we do think it's an opportunity. If you're I guess you're talking to long-term investors who would hold, right? Absolutely. The figuring out the market on a day to today basis is virtually impossible, but on a 6 to 12 month time rate, we feel very good. 6 months, you feel good from 4000. Where do you think we're going? We think easily the market can be ten to 15% higher and we think that's probably conservative and we think that the bear market is probably run its course and we think that from here stocks will be higher on that 6 to 12 months. It's a 10% gain as kind of the average forecast right now. I'm looking at the latest bank estimate strategist estimates that we have so the average is 43 76, call it 4400 EPS of two 25. My concern is that these EPS estimates are going to keep coming down. Especially as even if inflation is if you think inflation is peaked or stabilized or whatever, it's still very high and rates seem to be there's bets on 75 basis point hikes wherever you look, even across central banks. Are you worried about earnings into the end of the year? So we think earnings essence probably will be coming lower, but we think the second quarter was a great example of the fact that after you have had a very significant market sell off earnings can be mediocre and stocks go up. In the second quarter earnings reporting season, companies were giving fairly cautious outlets, a few big names missed their numbers, yet stocks increased rather significantly in July. So we think earnings numbers are going to come down, but that's going to be more than offset by the fact that inflation is breaking lower and we do see that happening and we think of inflation breaks lower but by the end of the year the fed is going to be perceived as having to be less hawkish next year. So those are the good things and we do think we're going to have a soft landing or very modest recession and we think the market is pricing in a lot of more negative things either a hawkish bed or a deeper recession. All right, David, if I am, in fact, buying on the dips as you suggest, do I buy some of the cyclical names that have in fact worked, whether it's energy or something else, or do I kind of stick with the tried and true growth names that have been just stalwarts since a great financial crisis. So we think you want to look at it more on a company by company basis and less thematically. And what we're trying to do is find very good businesses at less than 15 times next year's earnings. So bookings holdings and PayPal or two fall in growth stocks that we think are a great prices. Google a tried and true growth stock also had a pretty reasonable price. And then other companies like a Medtronic or a Qualcomm or a Truist, all very attractive prices, good long-term outlooks. The nice thing about that list is these companies are all doing great and over the next 12 months, we think the stocks have pretty good upside and fairly limited downside risk. Where do you see regional opportunities outside of the U.S.? Or is it nowhere? Because we've been seeing this strong dollar really clobber everybody else. So we think the U.S. market is going to be a very good place to be. We think now for the first time in a long time that the international markets on a 12 to 18 month time frame are going to also be nicely higher. They've got more uncertainty. They definitely are more impacted by the higher energy prices and by the Ukraine war. So there's more uncertainty, but the valuations are more attractive. We think for most investors, you really want to focus on the U.S.. And if you wanted to put money internationally, we would do it through mutual funds or ETFs. And we would limit those investments probably to ten or 15% of your total equity investments. All right, David catch, there you go, pretty bullish optimistic outlook buying on the dips type of expectations here for the next 6, 12 months. David Katz, president and chief investment officer matrix asset advisers. Again, it's hard to find it just seems like there's a lot of bearish people out there. And it's hard to find folks that are saying, you know, like a Vince Cigna roll of does squawk for us here at Bloomberg news. That has a short term bullish call. You know, short term 6 to 12 months in my mind. I think those are kind of out of favor a little bit right now. So it's interesting to hear those from time to time. Right now
Bloomberg Radio New York
"nymex" Discussed on Bloomberg Radio New York
"The release of the June, consumer price index, what is likely to be another historically high read for inflation. I know we're joined by a Bloomberg economics correspondent Michael McKee and Micah I know you saw that now traders are fully pricing in three quarter percentage point rate hikes at the July meeting sounds like the market has made its decision on just how hot this inflation print is going to be. I think that's the case. Most fed officials are sticking to their predictions because a lot of them have been out saying 75 in July. So we haven't really seen any backing off from that. And I think one of the reasons is the increase in the CPI for the month of June is so widely anticipated. Most of it's going to be driven by gasoline prices in the headline and people know that's out there. The question is, what does the core look like in other words, what does it look like if you take out gasoline and food prices? And what's the month over month change? Are we hanging in there? Are we starting to see improvement on a month over month basis that isn't reflected in the headline because the base effects, that's what the fed is going to want to know. They're going to worry about maybe an accidental going overnight percent because they don't want inflation expectations to get entrenched, but they are going to watch the monthly change to see the progression of inflation. That's certainly what matters to the fed, the core CPI, and you look at the expectations on the eco screen on the Bloomberg terminal, it sounds like economists are thinking we're going to see slight drop in core CPI. What signs are you looking at that could point to where things are going in terms of inflation outside those more volatile food and gas sectors? Well, we know that used car prices at a wholesale level have gone down over the past month and a half, the manheim report suggests that used car prices will have backed off. And that was a big driver during the months coming out of the pandemic because there were no cars to sell. So that would be good news. It's a reasonably large enough category. And also we know that inventories are very bloated, so consumer discretionary items apparel in particular, maybe some other things. Might actually have seen a price decreases. Retailers discount trying to get rid of this stuff. What is this number mean in terms of the rate path going forward? Obviously, we mentioned that money markets are pricing in 75 basis points this month. What about subsequent months? I mean, does backward looking data like this really matter? What's the fed going to be looking at going forward? Well, the reason it really matters is because of consumer expectations if people start to get entrenched in their mind that inflation is always going to go up, then that makes it much harder for the fed to get rid of inflation to help bring it down. So it will matter in that sense, but the question that arises immediately at 8 31 Eastern Time this morning after the release is, what is the fed going to do at the September meeting? That's what matters to Wall Street. And no, this release probably won't have a major impact on that. It'll start people thinking about it. We'll get August and September CPI numbers before the fed meets again. And so we'll have a much better idea of the progression of inflation. And of course, I don't know if you've noticed on your daily commutes, but gasoline prices have been coming down now for a couple weeks. Yeah. Right. Four 70, I think, is what I've seen around my area. Anyway, I've got about a minute left here, and I go, you weren't thrown by this, but before 8 30 Wall Street time this morning, we got to fake CPI print that made the rounds online yesterday. Is fake news just going to be with us when it comes to eco data? It seems like it was unusual that this happened because eco data is not usually something that people care about. They make up. They do now. And maybe it was an attempt by somebody to game the markets, but it quickly fell apart. So I'm not sure whether somebody else will try again, but you always have to be careful. And Bloomberg will verify anything that goes out before we send it out. Yeah. We verify that their fake stories are out there. And post stories about that to let you know that the real stuff comes 8 30 Wall Street time as usual from the bureau of labor statistics. Bloomberg economics correspondent Michael McKee. Thanks for being with us ahead of the release of June CPI. Looking ahead to the market open at 9 30 Wall Street time, S&P futures are up 8 points. Dow futures up 51, NASDAQ futures higher by 35 points, ten year treasuries up four 30 seconds with a yield of 2.95%, still inverted between twos and tens, the two year yield right now, 3.03%. Nymex crew to touch higher up a half percent, 49 cents higher, $96, 33 cents a barrel after yesterday's 8%
Bloomberg Radio New York
"nymex" Discussed on Bloomberg Radio New York
"At the moment they are trading a touch higher as investors continue to assess risks to economic growth from efforts to rein in runaway inflation that debate over a soft landing versus a fed triggered recession continues Anthony crescendo a portfolio manager at pimco says he sees the chances for a soft landing at his pretty good in the odds of a deep recession pretty low What the Federal Reserve wants of course is to avoid or eat an outright recession Recession declined as a defined as a decrease in employment and output But it wants as a growth recession which is us that soft spot the soft landing between 0% growth and 1.8 which is the growth potential Navigating it into a narrow runway is challenging And we check the markets every 15 minutes during the trading day on Bloomberg right now S&P are the S&P is up 5 points for a gain of a tenth percent the Dow is up 33 points a tenth percent gain there The NASDAQ up 22 points a gain of two tenths of 1% Most of the industry groups in the S&P are in the red led by consumer discretionary target cut its profit outlook for the second time in three weeks Ten year treasuries up 1630 seconds the yield just shy of 2.98% yield on the two year 2.71% Nymex screwed up a half percent at a $119 5 cents a barrel comics gold up 6 tenths of 1% at 1853 80 announced the Euro right now trading at 1.07 against the dollar British pound 1.2594 and the yen is at one 32.59 against the dollar That's a Bloomberg business flash I'm Nathan Hager balance of power continues with David Weston you are listening to Bloomberg radio This is ballots bar in Bloomberg television or radio I'm David Weston it's an awful lot in the news.
Bloomberg Radio New York
"nymex" Discussed on Bloomberg Radio New York
"Is now nymex crudes up 7 tenths percent or 82 cents at a $119 69 cents a barrel Brent is up 7 tenths percent at a $120 53 cents And turning to Washington now Nathan President Biden's commerce chief Gina raimondo says the administration is not willing to lift all tariffs on imported steel and aluminum right now We've decided to keep some of those tariffs because we need to protect American workers and we need to protect our steel industry That's a matter of national security Commerce secretary Gina raimondo told CNN over the weekend that lifting tariffs on other household goods may make sense to help ease rising prices As the fed aims to ease price hikes here in Goldman Sachs says the U.S. economy remains on a narrow path to a soft landing Let's get more on that live from Bloomberg's we need a young good morning granita Good morning Nathan Goldman says improving inflation numbers and other factors suggest that the fed may be able to pull off its aggressive rake height rate hike plan without tipping the country into a recession Economists there say sequential core inflation appears to be slowing and supply chain pressures are improving Now Goldman says while the deterioration in indicators like the first quarter GDP suggests near term recession risk has increased other measures show output is still expanding Live in New York I'm ready to young Bloomberg daybreak Right we need to thank you at least a half a dozen central banks are expected to raise interest rates this week and the European Central Bank is expected to announce it and to bond purchases and formally begin the countdown to an increase in borrowing costs in July And staying in Europe Karen Boris Johnson will face a leadership vote in his ruling Conservative Party that could remove him from office And as the 5 things you need to know to start your day brought to you by interactive brokers futures higher S&P futures have 44 points Dow futures up 266 NASDAQ futures up a 182 straight ahead your top local headlines this is Bloomberg.
Bloomberg Radio New York
"nymex" Discussed on Bloomberg Radio New York
"Bloomberg business app And good morning I'm John Tucker I'm Nathan Hager futures are moving a touch lower to start the week We're coming up to 5 O one on Wall Street We checked the markets every 15 minutes during the trading day on Bloomberg Right now S&P futures are down 6 and a half points down futures down 91 NASDAQ futures are lower by 60 The ten year treasury is down 9 30 seconds yield 2.18% yield on the two year 1.97% Nymex screwed up four and a half percent or $4 71 cents at a $109 41 cents a barrel Comex gold then a tenth percent or $2 40 cents at 1931 50 ounce John And Nathan were going to have more on the markets in a minute but first we have breaking news out of Asia Our reports of a commercial plane crash in China And Bloomberg's Michael Barr is joining us live with a very latest Michael good morning Good morning John Chinese media reports of Boeing 7 37 NG carrying 133 passengers as crashed in southwestern China radar tracking from flight radar 24 shows that China eastern airlines flight took a steep descent as it was heading toward the province of Guangzhou The New York Times says local officials saw flames and smoke rising from a hillside in the area Chinese state TV says a rescue team has assembled and is approaching the site So far China eastern and Boeing have not been available for comment In New York Michael Barr Bloomberg daybreak Thanks Michael shares a Boeing down 6% in early trading following that reported crash Of course we're going to bring you the latest details all morning right here on Bloomberg radio Of course we will John in the meantime we continue to shift our focus to the war in Ukraine as intense attacks continue Ukraine is rejecting Russia's demand to surrender Maria poll Bloomberg's head Baxter has the details The Kremlin had said that if that was done it would open humanitarian lanes Ukraine said no and defense secretary Lloyd Austin says the Russians may not be able to take miracles They haven't taken it yet and we've seen in the past that Ukrainians have counterattacked that they've used their initiative to move things around on the battlefield And they presented some significant problems for the for the Russians Meanwhile more U.S. weaponry is expected to arrive in the next few days In San Francisco I'm at Baxter Bloomberg daybreak I think said Ukraine's president volodymyr zelensky is asking for more help He addressed Israel's parliament calling out hesitancy to provide military aid and join in international sanctions against Moscow Could you explain why we are still appealing to the world in many countries appealing to you for help Is it indifferent Calculation or mediation without choosing side I leave it to you to choose the answer to this question I only know one thing that indifferent kills Ukrainian president zelensky has renewed his offer to negotiate with Russia's Vladimir Putin and ancient zelensky says Moscow is starting to use more destructive artillery in its attacks President Biden heads to Brussels for a NATO summit this week John but before that trip he talks with European and UK leaders this morning Amy Morris has details from our Bloomberg 99 one newsroom in Washington President Biden's talk with the leaders of France Germany Italy and the UK is set for 11 this morning Wall Street time while in Europe the president is also expected to visit Warsaw where he'll meet with Poland's president Andre duda Sources tell Bloomberg that later today senior U.S. officials including treasury secretary Janet Yellen and national security adviser Jake Sullivan will meet with executives in the energy refining financial services and manufacturing sectors Leaders from ExxonMobil JPMorgan Chase and other firms are expected to attend the off the record discussion about the global push to sanction Russia upending supply chains and exacerbating inflationary pressures In Washington I made more as Bloomberg daybreak Russia has begun using hypersonic missiles against Ukraine It's a shift in strategy that may signal a new phase of the war Analysts expect more air power to be used as the Russian ground campaign stalls NATO secretary general Jens Stoltenberg is also worried about chemical weapons We know that Russia has used chemical agents in Europe before against their own political opponents and they Russia has been facilitating supporting the outside regime in Syria where chemical weapons has been used So this is something we take extremely serious NATO secretary general Jens Stoltenberg made the comments on NBC's meet the press heard Sundays on Bloomberg radio But with no end to the war in sight John oil is searching for a third day attacks by Iranian backed rebels on energy facilities in Saudi Arabia are also adding to upward pressure crude is rallied almost 14% since Wednesday checking prices now nymex crudes up 4.7% or $4 93 cents at a $109 63 cents a barrel Brandt is up four and a half percent at a $112 68 cents And his crude climbs inflation remains front and center today J Powell gets another chance to weigh in on the matter The fed share makes remarks and answers questions at an economics conference in Washington Critics like former treasury secretary Larry summers said the Central Bank needs to hike rates more aggressively We've got to raise interest rates by more than four percentage points We've got to raise them by 4% to stay neutral We probably have to raise them more than that So I think ultimately we're going to need a four or 5% interest rates levels they're not even thinking of as conceivable The former treasury secretary and Bloomberg contributor Larry summers was against on Bloomberg's Wall Street week heard weekdays on Bloomberg radio and television And stay tuned for those remarks from Jay Powell We're going to bring those to you live coming up just before.
Bloomberg Radio New York
"nymex" Discussed on Bloomberg Radio New York
"Nymex screwed oil is up to in a third percent or two and a quarter percent is of a dollar 93 at $88 54 cents a barrel Comax gold is down four tenths percent or 7.3 cents at 1787 50 an ounce The Euro 1.1157 against the dollar British bound 1.3426 and against at one 15.26 and Bitcoin this morning moving higher at $36,650 and we're watching shares of Apple up 2.6% this morning That's a Bloomberg business flash Paul and Lisa Hey Karen thank you so much we appreciate that I want to get the latest in Washington to see lots Of things going on I'm just looking at the various video monitors we have here in the radio studio and lots of news reports about Ukraine that continues to be front and center And it just seems like such an odd story given what we've all been through over the past couple of years Let's bring in Emily Wilkins Bloomberg government reporter Emily what's the feeling within Washington D.C. within The White House I've had this holy Ukraine situation is most likely to play out So what you've heard right this point from the Biden White House is that they do expect a potential attack from Russia on Ukraine And they're really expecting it to come at any time Their position is one of readiness I mean you have heard them emphasize that they're still looking into those diplomatic channels still trying to keep lines of communication open just saw the French president Emmanuel Macron have that call with Vladimir Putin more discussions coming in the future for Biden for the head of Germany But at this point the U.S. is really trying to get into a stance of readiness and you are seeing reports I'm looking at one right now from The Washington Post Putin warning Macron that further NATO expansion is unacceptable There's also another one from Al Jazeera saying that Putin has accused U.S. and NATO of ignoring Russia's central security demand So I think this is a very rapidly developing story It's one that I think is really essential right now to what's going on In D.C. and something that both The White House and at the other end of Pennsylvania avenue Congress is keeping a close close eye on Okay that's where exactly where I wanted to go The importance of this issue to everyone when you walk in in the morning no one's listening so you can be honest with us What's the first thing you read I mean okay to be blunt I have a ton of newsletters that I read in the first thing When I don't even walk in the first thing when I wake up just start scrolling through them And a lot of them okay the topics vary from day to day a lot of government focus but if you listen to The White House press briefings if you listen to what most people are talking about Ukraine is very much front and center And I think it's only going to become more so next week it lawmakers are back in their home districts right now They're not in D.C. so they're not sort of all in the same room talking about this But when this comes back you've already seen House speaker Nancy Pelosi Senate majority leader Chuck Schumer asks for briefings ask for updates You have members who want to know what's going on how they can respond you've seen delegations from both the House and the Senate heading to Ukraine This is something I think is really going to be front and center especially when Congress gets back to D.C. next week So what is the thinking Emily if Russia does invade with a hundred and thousand plus troops Who responds Who defends Is it the Ukrainian standing army Is there a NATO force Is there American assets in the region that will be deployed I'm thinking aircraft naval what's the response A number of countries have been sending weapons to Ukraine And remember earlier this week the U.S. moved 800 sorry 8500 rather 8500 troops two Eastern Europe They said they weren't deployed They weren't activated They weren't going into Ukraine but they were ready along with NATO forces Should Putin make the first move What you're hearing the Biden administration say is that their intelligence says that if Putin is going to move it's going to be in February When everything freezes over and they're able to go for it And so I feel like the U.S. is sort of crouched and ready right now They're sort of in this stance They want to be able to move quickly They've been coordinating with their European allies and you started to see everyone get a little bit more on the same page It wasn't clear at first what Germany was going to do but yesterday you did hear them announce some very firm sanctions including on that Nord stream two pipeline and it seems like both Germany and the U.S. are willing to make moves on that to deliver an economic pain to Russia Is anyone in Congress paying attention to fiscal fiscal stimulus I should say fiscal spending Yes I mean in terms of I'm assuming you mean fiscal spending in regards to you build back better Well yes they are definitely having to look at that because remember February 18th is the day that the government is going to shut down unless they pass additional funding They don't want Democrats don't want to continue just renewing the same levels of funding they had previously because those were the levels of funding approved under former president Donald Trump They want to come up with their new stuff And so they've got proposals out there It's just a matter of finalizing those Yes they are still focused on build back better I think the bill though that Congress is going to be talking about more Is that China competitiveness Bill You've heard it called you seeka You've heard it called the compete stack Basically it's meant to boost U.S. research and development put some sanctions on China $52 billion for its supply chip shortage That is going to be the main goal when Congress comes back because that seems to have a higher likelihood of actually getting on to Biden's desk and becoming law than build back better has at this point Emily Tom from the upper east side rodent and he said no one cares Everyone really just wants to hear about willow I was waiting I know I mean honestly it's painful for me to ask it but I will ask it Are you focusing on the Instagram account of willow I mean who isn't focusing Recess Friday I mean okay yeah there's that whole bridge collapse in Pittsburgh where Biden's gonna go speak today And I suppose we can talk about the importance of him continuing to tout the infrastructure legislation in light of his poll numbers What guys have you seen willow She's so cute So I'm not even that big of a cat person but this is a cute kid Here we go So cute I mean I'm melting Yeah I know I know You're a softy All right Emily thank you so much Thank you for joining us Emily Wilkins Bloomberg government reporter we're talking to Ukraine We'll talk a little infrastructure and we will talk The White House a kitten here I'm looking at the markets here Lisa again some more volatility maybe the S&P off about half of 1% NASDAQ about the same small caps off a little bit more here But the yields kind of get my attention here We had the yield of sort of a rising a little bit more this morning but they pulled back a little bit here just below 1.8% on the ten year I wonder do we get to 2% before we get to 1.5% Yeah Honestly this is a heated debate What's the long run rate that we can sustain in this economy given the expectations for rate hikes with Bank of America now expecting 7% and the possibility for the fed to go at every meeting Honestly the uncertainty the lack of conviction in the economic.
Bloomberg Radio New York
"nymex" Discussed on Bloomberg Radio New York
"To have you with the sensuous So from a UK economy perspective there seems to be a lot of people who had expected that the Bank of England would hike now reining in those expectations pushing them out to February or suggesting maybe the Bank of England has missed its window to hike at all What are your thoughts Yes I certainly think that after we had at the GDP data that came in last week's show really sluggish both in the UK just point out 1% And that really did put a damper on those expectations that the bank could instead chance the bank could still hype rates next week adding two as well all of this picture that we're getting from Oregon It's going to cause so much of a headache already we've seen the share prices reflected the likes of whitbread which owns the premier in chain the expectation that there will be far fewer bookings domestically as well Obviously we know how hard the travel sector has been hit So all of this will add to the picture of more sluggish growth in the months to come Inflation is still a real headache that it is trying to is going to have to try and alleviate more likely looking between next year instead Here more conversations like this one on Bloomberg television streaming live on Bloomberg dot com and on the Bloomberg mobile app or check your local cable listings Markets headlines and breaking news 24 hours a day at Bloomberg dot com The Bloomberg business app and at Bloomberg quick take This is a Bloomberg business flash And I'm Karen Moscow When you watch talking next futures are steady as traders brace for the Federal Reserve to accelerate its removal of monetary stimulus S&P and NASDAQ futures are little changed while shares and U.S. listed Chinese firms retreat in early trading after the Biden administration was said to be considering tougher sanctions We checked the markets every 15 minutes throughout the trading day on Bloomberg right now S&P futures again little change shower Dow futures and NASDAQ futures the Dax in Germany is up a third of a percent then your treasury down three 30 seconds you have 1.45% that yield on the two year .66% Nymex screwed oil down three quarters of a percent on 53 cents at $70 19 cents a barrel Comics gold is down a tenth of a percent on a dollar 80 at 1770 50 an ounce The Euro 1.1264 against the dollar British pound 1.3256 and he ended one 13.87 and that's a Bloomberg business flash.
Bloomberg Radio New York
"nymex" Discussed on Bloomberg Radio New York
"Police chief David gill called the officer's death a senseless act of violence saying he had been on the job for over two decades That's the latest I'm Julie Ryan And I'm susannah Palmer in the Bloomberg news room The omicron variant is likely to have picked up genetic material from another virus that causes the common cold in humans That according to The Washington Post citing a preliminary study by researchers from inference a U.S. firm that analyzes biomedical information The researchers found a snippet of genetic code from the omicron variant that is also present in a virus that can bring about a cold A link undetected in other coronavirus strains Doctor Anthony Fauci chief medical adviser to president Joe Biden says even with the community spread of the Omaha variant he doubts very much there will be another lockdown of businesses and schools I don't see anything right now that would imminently demand a lockdown of the country We have to see what goes on with a crime but we also need to do a bit better with Delta I would like to see a large proportion of that 60 million people adults who are eligible for vaccination who have not yet gotten vaccinated Doctor Fauci was interviewed on Bloomberg markets the clothes with David Weston Oils lived for a 6th straight week We get that story from Bloomberg's Charlie pellet It marks the longest stretch of weekly declines since 2018 is the variant jolts markets and OPEC plus continues to hike supply West Texas intermediate crude futures fell 2.8% last week the spread of the autocrat variant has investors concerned about any potential hit to demand Charlie pellet Bloomberg radio Nymex screwed was last quoted at 66 26 a barrel The Broadway league will commemorate the life of composer and lyricist Stephen Sondheim who died last week He was 91 This by dimming the lights of Broadway theaters Wednesday at 6 30 p.m. Global news 24 hours a day on air and on Bloomberg quick take powered by more than 2700 journalists and analysts in more than 120 countries I am Susanna Palmer This is Bloomberg This is Bloomberg intelligence with Alex steel and Paul Sweeney on Bloomberg radio We'll be here each and every week at this time Tapping into our Bloomberg intelligence analysts covering some 2000 companies.
Bloomberg Radio New York
"nymex" Discussed on Bloomberg Radio New York
"Nymex screwed up 9 tenths percent at $82 two cents a barrel 6 18 on Wall Street time for your daily Bloomberg crypto update brought to you by interactive brokers trade crypto for less coin with commissions just 12 to 18 basis points and no hidden spreads or markups learn more at IBKR dot com slash crypto Now with the latest and crypto news here's Bloomberg's ranita young renita Nathan right now Bitcoin is trading above 59,000 It's rallying on exclusive news from our team here at Bloomberg that the SEC could allow Bitcoin futures exchange traded fund to begin trading as early as next week The Bitcoin ETF proposals by pro shares and invest go are different than earlier ones that were rejected by regulators because they're based on futures contracts and they were also filed under mutual fund rules that SEC chairman Gary gensler says provides significant investor protections Now unless there's a last minute reversal the fund lodge will be the culmination of a nearly decade long campaign by the ETF industry Eric cartoonists of Bloomberg intelligence says there's roughly a 25% chance that the SEC rejects or delays a decision next week and researcher Morningstar said while issuers are clearly hopeful there's just really no way to know what regulators are thinking Meanwhile dozens of cryptocurrency exchange traded products have already launched in Canada and across Europe Live in New York I'm granita young Homer daybreak Nathan Okay we need to thank you That's a Bloomberg business flash and now here's Michael Barr with more of what's going on around.
Bloomberg Radio New York
"nymex" Discussed on Bloomberg Radio New York
"Nymex crude oil is up half percent. Nathan All right, Karen. Thanks We'll have more on markets in a minute. First numbers from the 2020 census around, they show America's population growth declined to its lowest rate since the Great Depression. Numbers also show a political edge for Republicans when it comes to retaking the House next year. Amy Morris has the latest from our Bloomberg 99. 1 newsroom in Washington, The nation's political center of gravity continues to shift to the Republican led South and West. Exits. Florida and other Sunbelt states are gaining congressional seats. New York and Illinois lost seats that gives the GOP more of an edge in next year's midterms. Still, the U. S population grew slower than expected, with fewer people migrating to the South and west than earlier projected. And for the first time ever, California lost a seat in Washington. I'm Amy Morris Bloomberg Daybreak. Me. Thank you, And we have breaking news out of the White House. Right now. President Biden is issuing an executive order to increase the minimum wage for federal contractors to $15 an hour. That's it from a current level just shy of $11 an hour, the White House said that pay hike will lead to greater productivity, offsetting any cost to taxpayers, and we're also getting word President Biden's going to ramp up I r s audits on the wealthy. According to The New York Times, the president will propose another $80 billion for the Iris to crack down on tax evasion. And by high earners and large corporations. White House believes the effort will raise $700 billion over a decade. Now, the latest on the battle against the pandemic. The U. S says it all share its entire supply of AstraZeneca's vaccine with other countries. It's also preparing an aid package for India, which is facing the world's largest surgeon covert infections. Ned Price is the spokesman for the U. S. State Department. We're working nonstop across the government to do all.
Oil and Gas Startups Podcast
"nymex" Discussed on Oil and Gas Startups Podcast
"Because it kind of again it blended that will come onto. I guess that kind of the uniqueness of the commodity trader where they've got to deal with real world physicality products livers shipments to nourish will stuff operations and then the financial hedging and trading around it as well. But you know you you start over the pretty small population of people and you know very quickly. Those kind of the stumbling enron say stumbling in this town was a very big deal Really that was kind of a In a more of a short term hitch to people's careers and you know there was a huge diaspora of commodity trading talent the spread around your spread around the us In some extent in singapore as well that was positive fueling or at least providing. The talent to this huge. I mean it's you guys remember right. The exponential growth in the number of organizations trading commodities wanted to trade commodities think in essence enron. Kinda spurred that because enron's collapse banks golden ubs a quad enron over. These people spread out the different utilities european utilities etc. And it really. I mean the the early two thousands were. There's a famous was in the financial times said they to leave. You could spell the word through tips. You can have a lucrative career trading commodities. Would you say would you say that. The talent arbitrage Per my anecdotal observations came from the financial sector. I whereas the gas markets being as novel in new is they were at least on the paper side with enron trying to kind of be a trade and trade house but also in exchange Never mind the conflicts of interest there But also just they were the bridge into the commodity space of four like you referred to it as that diaspora for them to spread out in going branch out like i always viewed the financial space or the financial trading space being more savvy with equities bonds currencies as kind of the the talent pool from which the commodity space drew and win when screen based trading via enron. Trying to bring you know gas markets to screen. The nymex was was kind of transitioning to the screen in the early knots. would you say that The financial sector provided the vast majority of the talent pool that kinda got arbitrage drew got brought in to the commodity space. So i think it was a significant source of people being brought in with practice right i think those an absolute the look of the top trading ends his at the time they a lot of them you know. Enron slutty exception but did lean heavily in banking Talent forest management services for structuring services for their financial Emanate piece whatever might be but also equally dahe top people in enron. A lot of them were deep industry. Expertise right nicklaus nuclear physicists. And so forth. Who really understood the grids three understood the gas business so us up perfect blending and he saw that more perhaps enron kind of built that itself. You know what was it was it shell. With their hook-up. With bankers trust those other sort of goldman sachs constellation. No other sort of like mailings blending on gas and power side..
Bloomberg Radio New York
"nymex" Discussed on Bloomberg Radio New York
"On the two year 20.12%. Nymex crude oil that'll change down 40 cents at eight. No, that's wrong. Nymex crude oil is up four tents for center, 20 cents and $52.99 a barrel. I was looking at comics school that's little changed in 18 58 40 announce. I could put myself down. She made no mistakes in 2020 were dip into 2021. Paul. She's falling apart. Oh, no, it had to get to be eventually E did a pretty good job was a lot of you know. Okay. Karen Moscow, folks. Just so everybody understands. There's nothing we take more for granted, and Karen Moscow. Nailing. Where are the markets? She does it every single time. It's great. We appreciate it. Karen Moscow Thank you so much for that on top of it more green on the screen today, Tom. And why not the Federal Reserve back stopping this mark? A lot of folks are saying Have I missed my entry point? I talked to a few little things. I miss my plane. Let's get the fuck over here. You do it. Solo. Chris Heisey, Merrill and Bank of America. Private Bank chief investment officer Chris Thanks so much for joining us here, you know, you take a look at this market. You see Tom's favorite investment vehicle stacks almost on a daily basis. Coming to the market. You see Robin Hood, retail traders pushing stocks all around the board like game Stop. Give us a sense of how you view this market in terms of the frostiness if you will in this market. Yeah, I think it's a subject that it really started to take off and November of last year, when small caps had their best month ever. And the whole head fake. You know, the Michael Jordan head fake of investing started to go away, and people started to believe that cyclicals can actually extend some of their rally. And then now we talk about Offerings 3456 a week we talk about you know what's going on in the big story. Little profit stocks that are out there being bit up the high enterprise diet of sales companies that are about a quarter of trading volume. In the U. S. And everybody remembers when or at least some of us. Remember when right, Tom get Paul in terms of 1999 2000, But I would point to this. You have to look at policy. You have to look at what the tail winds that are driving. Not just this sin parts of the market that the risk areas that are suggesting, you know, quite frankly flashing orange as you as you pointed out the sentiment. Indicators are clearly at highs. Right now. Frostiness is out there. There's a lot of discussion is too Did I miss it? Valuations are high, but Earnings are low and mathematics tells you that when earnings were at a trough. Many times valuations. They're going to be hot. That's where we are right now. I would think differently if earnings were at a peak and valuations were hi. Thank you So much for that analysis. I would point out folks Microsoft, Paul taught me the symbol on the break Microsoft here with a jump condition on 2 to 32. I believe that's outdoor record high Dow well over 31,000 SPX round of 3900. Watch Chris, that's all great and well, but the way this always ends, is it confirm cathartic move. Do you see a emotional catharsis right now? It leads you to say, tippy tippy top. Not yet. Not yet, Tom. It feels that way because of headlines. It feels that way because of focus that we read in whether you're talking about the short squeezes that are going on. But actually, when you talk to individual investors and you talk T o folks out there That are in the market already, but not participating as much. They don't believe that there are no risks out there. They still build the five top risks. They're still worried. They're concerned and they're marching to risks. Still, they're not coming into the market blindly. And that to me, means that whatever pauses coming at whatever time Is a temporary pause, and it's not the tippy top. All right. So as you talk to the thundering herd at Merrill Lynch that huge retail brokers force across The country here. What is the risk appetite here, Chris? Are they willing to continue to take risk in this market that they are they playing that reopening trade in the back half of this year? Fantastic question, because it does give you a really good feel for not only the client side, but the adviser side and from my perspective, what we have done and we always do on a quarter basis is we We write down one of the big questions out there. What's the mood? The mood is cautiously optimistic. On the economy. But cautious on the market. So they're waiting for That things are not only OK, but we're not walking into a pullback of, say, 10%. So there's still a little bit of trepidation out there. There's cash on the sidelines, and I know cash has come into the markets. We saw the record flows go in. But if you go back to away and even 2018 more than 90% of all flows there still into fixed income So on a relative basis, you know about 6% 8% or so into equities, So we have a ways to go here on a longer term basis, Shorter term Would paint the mood as there's cash out there waiting to invest. Advisors and clients are cautious, but they're optimistic on the economy. So, Chris, What do you think about this rotation trade. It's really becoming to vote here. And it's you know, we're kind of 4 to 5 months into this trade where people are willing to look to the other side of this pandemic look too. Opening of this economy and saying, Hey, I'm gonna take some cyclical risk here. I may even go small cap here looking for value and looking for performance. How do you view that trade is? Is it something we could depend upon, you know, going forward. We believe so we We just upgraded in January small caps to more of an overweight. We had a slight overweight. We were waiting for some data to come through to make sure that there was more of a secular trend at play, not just an ultra cyclical. Friend that we saw the closed the year We upgraded financials and industrials and materials as well. Those areas you know, provide a little bit more cyclical value and growth quite frankly, in those areas and we have upgraded and you know, we closed out emerging markets underweight and we went to neutral. The point is, you're in the market, right? That's right. How many people do you see his? Paul mentions that Maryland's with the sprawl of your retail and institutional in high net worth people? How many people are just flat out?.
Bloomberg Surveillance
Stocks are higher at the open
"Are higher at the Open. The S and P 500 is up about 1/10 of a percent of two points and 37 25, the Dow Jones industrial average also of less than 1/10 of a percent of 23 points. At 30,330, the NASDAQ is up 3/10 of a percent or 39 points at 12,804 10 Year. Treasury of 3 30 seconds Yo 300.92% yield on the two year 20.11%. Nymex crude oil is up 8/10 percent, or 39, cents and $48.75 a barrel. Comex gold is down less than 1/10 of a percent on a dollar 60 at 18 88 70 announced the euro 1.2248 against the dollar. The yen it 103.30 Tom
Bloomberg Daybreak
Stock-market futures pointing to triple-digit Dow decline at open
"This morning. U. S stock index futures are moving lower this a day after reaching record highs. We check the markets. Every 15 minutes. Throughout the trading day on Bloomberg S and P futures down about nine points this morning, down features down 108 NASDAQ futures down 26, the DAX in Germany's down 4/10 of upper set. And your Treasury of one 32nd year 10.92% in the yield on the two year 20.16% Nymex crude oil is down 7/10 percent, or 33, cents at $44.22 a barrel Comex school this up 6/10 percent, or $10.70 at 18 29 60 announce the euro 1.2047 against the dollar. British found 1.3348 and the yen went 4.71. And today we are watching for a report on private payrolls from ADP Research Institute at 8 15 Wall Street time. And it to the Federal Reserve releases its beige book, and that's a Bloomberg business Flash. Now here's Michael Bar with more on what's going on around the world. Michael here in the U. K has approved a covert 19 vaccine, with its regulator clearing visors shot ahead of decisions in the U. S and the European Union. Emergency authorization clears. The way for the deployment of the vaccine advisor has said, is 95% effective. It comes as a CBC independent advisory panel in the U. S. Is recommending that states give the first available doses of the vaccine to health care workers and seniors who live in long term care facilities. The Justice Department is investigating a
Bloomberg Surveillance
Closing prices for crude oil, gold and other commodities
"Percent or seven points at 35 43 down Jones Industrial Average is up a third of a percent of 100 points at 29,262. And the NASDAQ is down three quarters of a percent, or 90 points at 11,622, the 10 Year Treasury down 13 30 seconds He'll 300.96% yield on the two year 20.18% Nymex crude oil up 1.7% of 68 cents at $40.97 a barrel Comex gold up 1.4% or $26.30 in 18, 80 60 an ounce The euro, 1.1815 against the dollar, the yen 105.34 Tom and Paul, Thanks so much Karen greatly appreciate this is
Bloomberg Daybreak
Offshore oil and gas production is crimped by Gulf storms
"From Texas to Florida are under threat from the storms were then half of offshore oil production is already shut down Natural gas. Sizer also closing That is gas and crude gaining this morning. Right now, Brent crude is higher up 6/10 percent of $44.62 a barrel while Nymex crude is at $42.63. Now, storms like this would normally push oil price is is much much higher, higher, but but concerns concerns over over demand demand in in the the wake wake of of covert covert 19 19 appear appear to to be be keeping keeping prices in check.
The World Nomads Podcast
Stepping in for South America
"I. Feel with you big thanks cheating in from wherever you get your favorite pods. Now Chat to Chad Kerry. Shortly, about the damage, the lack of travel and tourism has had in South America but still what people wanting to. Travel as borders open up. Well, we've gone to the you know the the main source of being Nash. We've been googling what people have been googling. And some of the most Google questioning covid and travel out of his personal safety. Ken The virus travel through events in hotels. Hod One for us to answer not being doctor or A. Viral. But an American doctor Dan Field who's the chief medical officer at MD staffers, which is one of the fastest growing stuffing the US has been quite a recent interview saying it is possible to become infected through a buildings ventilation system, but it's unlikely due to the gym particles getting smaller and smaller. As they travel through the vents. It's a bit like on aicraft. You know people were I bet getting on aicraft the Bassett filtering systems. Are, read some of the areas harden a pint allegedly cleaner than the air outside. Turn Wow. Yeah. So but again, I'm not aicraft engineer. So Anything. Yet. But the big want everyone wants to know is does travel insurance CAVA CORONA vars. He we got. This is where you are an ex. I can look. This is difficult to answer answer because what does it actually mean by does traveling insurance Kevin Durant avars. Travel Insurance medical costs, loss of belongings and things like cancellation and delight. So even if you do have a policy from provided, the covers something to do with karenna Varzi probably not gonNA cover everything. So which is why it's really super important to read the wording policy witting for your particular provide up. A bit of a tip for you heat control if different control. Fine. Put in pandemic goals that and see what turns up in the benefits. The have looked for general exclusions. The will be section in there about that. If it mentions pandemic epidemic outbreak of disease as a general exclusion, then it's very probably not cabinet. Also. Go back and have a look at what's covered under the medical because they might have made an exception to that day. Look at things is this is a highly regulated industry and We must be the good travel insurance providers don't want to be misleading people anyway. So go to their website and have look on the front page of the website they they will make abundantly clear so that there is nine stacking what you'll coverages around corona virus whether they do or don't. Chuckled I sources I, and you know, for example, the will die meds policy type. Again, we have six different under his around the world, but the the policies that will NYMEX provides us. Does have some coverage for medical costs if you. Seek overseas but that's also very clearly marked on our website on its policy woody, and if you don't show whoever your provider is giving them a call on us. What he's and he's not covered.
Bloomberg Surveillance
Stocks sink at open, with the Dow off more than 300 points, after horrific GDP
"Bonds climbing after airport show the world's largest economy had its sharpest contraction on record in the second quarter, and separate data highlighted another increase in the number of Americans filing for unemployment benefits. We check the markets every 15 minutes throughout the trading day on Bloomberg, the S and P 500 Down 1% or 33 points at 32 25 DowJones industrial average down 1.5% 386 points at 26,155 and the NASDAQ's down half percent, or 49 points. At 10,492. 10 year Treasury of 8 30 seconds. He'll 300.54%. They yield on the two year 20.12%. Nymex crude oil's down 2.4% or $1.40 dollars, 27 cents a barrel. Comex school, down about 1/10 of a percent on the dollar, 30 in 1975 30 announced The euro 1.1797 against the dollar. The yen 105.7 Qualcomm Among the stocks were watching today, up 10.5% gave a strong sales for cash for the current quarter and announced a new licensing deal with China's well way technology's Procter and Gamble, up 1.6% of posted a certain sales this spring is higher at home consumption of laundry detergent and dish soap. Was continued stockpiling gave the consumer staples giant a boost. And that's a Bloomberg business. Flash toman Paul Karen, Thanks so much negative
Bloomberg Markets
OPEC slashes oil demand forecast again, sees biggest hit this quarter
"You know what area of the market that we haven't talked about is frequently recently as oil because it stabilizes it recovered from that incredibly low level right now crude traded on the NYMEX trading at twenty five dollars and forty two cents but a real push pull here especially as OPEC releases a report that basically says that production can be cut even further to meet the curtail demand in a pandemic era Juliett Lea is been covering all things oil for us again writing incredible Bloomberg opinion columns as well on the oil market you can always catch them on Sundays Julian joins us now there is this push pull Julianne where you've got a bit of signs of recovery with some maybe some tentative signs of a drawdown in the Cushing storage fields with respects to inventories mean other side you have shale producers that are actually starting to bring wells back online where are we in the supply demand dynamic we're in a very delicate position at the moment you're absolutely right we all starting to see very tentative dare I say positive signs even in some of the particularly the U. S. state terror and and some of the the information we're getting out of China in terms of driving picking out the the weekly report from the A. L. A. the book was published about helping our goes die shows enough taking good moment but you know we have to put that in perspective the eight still below seventeen million barrels a day that's about where it walls twenty five years ago so we you know we no way near out of the woods that was it he said this the scoring Cushing stocks at Cushing there was also a very small role in nationwide commercial crude oil inventories but you have to balance that against the fact that there was almost two million barrels of crude putting to the strategic petroleum reserve and a loophole the the the the nationwide still holds all of crude oil and refined products went off again some Julian on the supply side of the equation several weeks ago we had OPEC obvious Saudi Arabia and Russia agreed to I I believe almost two million barrels per day cut in auction is there any signs that that is in fact holding yeah they're also in cities holding I mean we all starting to get into the first trickle of information we've had some students ten day production figures out of Russia which shows that it has gone a long way towards meeting what it promised to do in terms of output because we all seeing export levels from some of the big middle eastern countries falling quite significantly Saudi Arabia looks to be doing what he said it would do and I and yesterday went even further saying that it would cost an additional million barrels a day on top of what is already promised for June that would take its production down to little a little lesson seven the whole million barrels a day from you know twelve million barrels last month these are very big accounts and they all happening what's happening outside of the OPEC plus group please he's a little more difficult to see immediately we have seen some big holes in U. S. production but one thing the the I think analysts is struggling with if you read the company earnings reports it suggests that the production call by could alternately be as big as three million barrels a day if you look at the weekly production numbers with less than a call for backup of the moment and and then he said wait wait starting to see told because of some companies beginning to to raise output again as prices have crept up to about twenty five Bucks a barrel yes Julian just real quick here I'm struggling to understand the source of the uptick in demand that will bring it back to levels that we saw pre corona virus the shipping levels down with airplanes on expecting volumes to return for years where is the driver of consumption well the driver is the driver I will pay the city's you know eight eight gasoline demand that he's picking up most significantly well I don't think the the you know we we necessarily suggesting that demand is going to get back to pre fires levels you know anytime soon we all we all seeing really the photo shoots at the Monaco thirty these Damone problem private motorists people who perhaps all getting back to work but all roads leading public transport in order to get a job so we seeing more people using because we see even higher than normal levels of congestion on Chinese city streets we seeing signs of an increasing congestion elsewhere as well but it's still early days early days Julian Lee thank you so much for joining us Julian Lee is an oil strategist for Bloomberg news trainings on the phone from London like I just for me please I'm just you know that gasoline prices are down that's great but I just might not driving so I mean I can simply take advantage of that so began to see how that plays out over time as oil continues to trade at
Bloomberg Surveillance
Saudi Aramco profit falls 25% but dividend in line with planned payout for year
"M. oil declined as al circulated over Saudi Arabia's ability to implement additional pledged production cuts the kingdom says it will pump seven and a half million barrels a day next month about a million barrels below it's official opened plus output target and the lowest level for eighteen years as discussed this with the nasdaq senior energy director Tom R. as in our Tom are great to have you back so we have seen the rise in oil prices in the regular New York session but then those gains being raised what does this tell us about how big the supply glut is at the moment and how much Saudi Arabia's latest moves could help I I think that the market was a little taken aback by Saudi's announcement today we're only eleven days into what led the historic agreement in terms of the duration and the degree of class and already they're cutting further so it was sort of a negative indicator in terms of a weaker that they're seeing on the demand side more broadly I do think that the oil fundamentals are improving a little bit from a low base and we see that reflected in the price you know what I am quite a bit over the last couple sessions although not today I think that the compliant being brain games you're more interviews like this one on Bloomberg television streaming live on Bloomberg dot com and on the Bloomberg mobile app or check your local cable listings market headline breaking news twenty four hours a day at work dot com business please visit Bloomberg business slash and I'm here in Moscow U. S. stock index futures are edging higher this morning European stocks gaining this as investors take in stride an uptick in corona virus infections in several nations and signs of fresh trade tension oil is advancing we check the markets every fifteen minutes throughout the trading day on Bloomberg S. and P. futures up about eleven points Dow futures of a hundred sixteen nasdaq futures up thirty two attacks in Germany is up three tenths of a percent ten year treasury that'll change your point seven zero percent the yield on the two year point one seven percent NYMEX crude oil is up almost five percent of a dollar nineteen to twenty five thirty three a barrel comics gold is a half percent or eight dollars thirty cents at seventeen oh six ten an ounce the euro one point oh eight
Bloomberg Surveillance
Stocks Rally as Investors Look Past Lousy Economic Data
"S. and P. futures up twenty two points Dow futures up one hundred sixty one nasdaq futures up eighty one attacks in Germany sept four tenths percent ten year treasury up nine thirty seconds he'll point five eight percent the yield on the two year point one nine percent NYMEX crude oil is up sixteen percent of a dollar ninety seven at fourteen dollars thirty one cents a barrel to make school down a tenth of a percent on a dollar sixty at seventeen twenty seventy an ounce the euro one point away four nine against the dollar British pound one point two three nine four and again when I was six point four seven Glaxo Smith Kline joining drug makers whose sales have benefited from patients stockpiling ahead of the corona virus lockdowns yum brands first quarter profit missing analysts estimates it said early momentum was heavily impacted by the corona virus outbreak and we continue to watch G. Eazy down two point nine percent after it reported earnings that's a Bloomberg
Bloomberg Daybreak
Stocks rebound, oil futures fall below $50 a barrel to settle at lowest in more than a year
"Stocks are fighting in Europe and Asia and U. S. stock index futures are edging higher as investors push global equity benchmarks to record highs before commentary from federation of German Jerome Powell we check the markets every fifteen minutes throughout the trading day on Bloomberg S. and P. futures up nine points Dow futures of seventy nine nasdaq futures up forty one that actually Germany's up about eight tenths of a percent ten year treasury down six thirty seconds yields one point five nine percent yield on the two year one point four one percent NYMEX crude oils up one and a half percent or seventy three cents at fifty dollars thirty cents a barrel call my school those down half percent or eight dollars fifty cents to fifteen seventy one announce the euro one point oh nine one six against the dollar British pound one point two nine two one and the end of one oh nine point eight
Bloomberg Surveillance
Evidence points to Iran weapons used in Saudi strike, says alliance, as oil jumps
"A Saudi led Yemen coalition said Iran weapons were used in the oil attacks right now NYMEX crude oil is up nine point six percent of five dollars thirty cents at sixty dollars fifteen cents a barrel the S. and P. five hundred lower down a third of a percent down ten points to twenty nine ninety seven the Dow Jones industrial average down for cancer center a hundred twenty points to twenty seven thousand ninety eight and the nasdaq down for ten percent or thirty five points to eighty one forty
Bloomberg Daybreak
Futures dip after rally as trade talk euphoria fades
"U. S. stock index futures are slipping after a mixed session in Asia's enthusiasm over the latest US China trade truce wanes we check the markets every fifteen minutes throughout the trading day on Bloomberg S. and P. futures are down four points Dow futures down thirty two nasdaq futures down eighteen that action Germany's down a tenth of a percent ten year treasury up for thirty seconds the yield to percent the yield on the two year one point seven six percent NYMEX crude oil down three tents for center nineteen cents a fifty eight ninety one a barrel comex gold is up half percent or six dollars fifty cents at thirteen ninety five eighty
Bloomberg Daybreak
Gulf Of Oman, Bloomberg And Murray Hordern discussed on Bloomberg Daybreak
"Oil, rebounding from a near five on the low after two tankers were damage, and is suspected attack in the Gulf of Oman, we get more from Bloomberg's and Murray Hordern. This is a region is responsible for so much of the world's oil supply, more than sixteen million barrels a day to the strait of HMOs any sort of incident. Here could disrupt not just two vessels. It could potentially be not more that is why you see this immediate spike in the oil market checking prices right now. Nymex crude oil. Up two point eight percent of a dollar forty four to fifty to fifty eight a barrel. Brent is up three point. Two percent. It's at sixty one dollars eighty seven
Bloomberg Surveillance
Futures extend gains in choppy trading after jobs data
"It is jobs day and US stock index futures are rising a head of the US jobs report. Treasuries are moving lower. We check the markets every fifteen minutes throughout the trading day on Bloomberg s and p futures are up nine points. Dow futures up seventy two NASDAQ futures up forty four the Dax in Germany's up four tenths of a percent ten year treasury down for thirty seconds yield two point five percent yield on the two year two point three five percents. Nymex crude oil up a tenth of a percent or success is sixty one eighty seven a barrel. Comex gold little change at twelve seventy one seventy an ounce. The euro at one point one one five one against the dollar. The yen one eleven point five, Hugh, SoftBank group mulling fundraising plans, including a listing of its investment fund. That's according to a report by the Wall Street Journal, which cited people with the matter and tesla to raise two point three five billion dollars through debt and stock offerings that were boosted from the company's
Bloomberg Daybreak
Intel stock drops 7% on revenue miss
"Global economic growth amid possible impact of quote, geopolitical dynamics in San Francisco, I'm Emily Chang. Bloomberg daybreak. Thank you. I'm Emily other stocks on the move this morning PG and E shares down about five percent. That's after soaring. Seventy five percent yesterday. When California cleared the utility of responsibility for the state's wine country, fire of two thousand seventeen moody says it still expects PG the file for bankruptcy in a few days. Shares have Starbucks are up more than three percent after earnings beat estimates. Bloomberg's Charlie Pellett reports. Starbucks managed to put its recent sales slump behind it beating estimates in the key Americas and Asia Pacific regions compr-. Sales that key metric for retailers rose four percent in the Americas. Same store sales in China. Gained one percent the world's biggest coffeeshop company has been under scrutiny after turning in slower sales growth last year. Charlie pellett. Bloomberg daybreak Charlie. Thank you. The pound is heading for its best week in a year following reports the Northern Irish political party, that's propping up Theresa May's government has privately agreed to back her Brexit deal. German business sentiment fell to its weakest level. In almost three years in January has trade uncertainties and weaker growth in China amplify, concerns. Over the economic outlook. Man, Bloomberg news has learned a Chinese delegation, including deputy ministers will arrive in Washington on Monday to prepare for high level trade talks led by vice premier Lou. And s and p futures are up twenty one points this morning. Dow futures have one hundred eighty two NASDAQ futures up seventy we check the markets every fifteen minutes throughout the trading day on Bloomberg. Dax in Germany's up one point six percent. Ten year treasury down to thirty seconds yield two point seven two percent. Yield on the two year two point five seven percent. And NYMEX crude oil is up less than a tenth of a percent straight ahead. We have the latest world and national news. And this is Bloomberg. Karen, thanks. It is six thirty three on Wall Street. This news update brought to you by national realty NRA, developers of high return income producing properties for investor partners.
Business Rockstars
Oil prices edge up on trade talk hopes and OPEC cuts
"Prices looking to extend last week gains buoyed by optimism tied at trade talks between the US and China as well as output reductions by major oil producers, including Saudi Arabia Saudi Arabia's plans to cut. Its oil exports by eight hundred thousand barrels a day from November levels. Dow Jones reported citing comments from officials at the organization of Petroleum Exporting Countries west Texas, crude four February delivery, adding a dollar and sixty nine cents forty nine dollars and sixty five cents a barrel. All the Mercantile Exchange. Brought my contract rising five point eight percent. For last week. They've already gasoline is up three point two percent dollar and thirty nine cents a gallon on the NYMEX after tracking on three point six percent for last week that very heating oil adding three percent to a dollar eighty two cents a gallon for a weekly rise of nearly six point six percent.
Bloomberg Surveillance
Stock rout deepens, Dow plunges nearly 400 points
"US stock index futures are signaling the global route led by technology. Shares will deepen after stocks fell from London to Shanghai, adding pessimism to markets already anxious over trade. Treasuries are advancing with gold and the dollar edging higher. We check the markets every fifteen minutes throughout the trading day on Bloomberg s and p futures are down forty three points. Dow futures down three hundred seventy five or one and a half percent. Nasdaq futures are down one hundred sixty four points or two and a half percent. Dax in Germany's down one point eight percent. Ten year treasury at five thirty seconds yield three point four percent. The yield on the two year two point seven eight percents. Nymex crude oil down two point one percent or a dollar twenty to fifty six dollars a barrel. Comex gold little changed seventy cents to twenty six an ounce the euro dollar fourteen. Oh, sixty yen won twelve point four four still watching apple down more than three and a half percent. It's headed for. Bear market will every member of the cohort was down at least one and
Bloomberg Surveillance
Facebook, Apple And Bloomberg discussed on Bloomberg Surveillance
"Crisis. We check the markets every fifteen minutes throughout the trading day on Bloomberg s and p futures up a point Dow futures up nineteen NASDAQ futures up twenty one the Dax in Germany's down a tenth of upper said ten year treasury of nine thirty. Seconds. Yeah. Three point nine percent. Yield on the two year two point eight three percent. Nymex crude oil up four tenths percent or twenty three cents to fifty six forty eight a barrel. Comex gold up two tenths percent or two dollars twenty cents to twelve twelve thirty an ounce. The euro is it a dollar thirteen three. The British pound is down about one point seven percent against the dollar at a dollar twenty seven seventy six and again as it went thirteen point three one. And that's a Bloomberg business flash. Tom occurring. Thanks so much. I really wanna make clear with sterling one twenty seven seventy seven it's making a new run of weakness towards the one twenty seven fifty level that we saw it about five twenty five. An that was a spike down in really some new weakness here that bears careful consideration. And of course, this is we see different headlines for American audience. It is a quarter of five I think, so we're just a cocktail or we're real conversations begin in London in that will be interesting to see as well right now on the technical market from baker's partners. John Krinsky joins us Januar all wrapped up in this international economics, but the great barometer within your technical Alice's are charts. Let me start with an open question. What do the charts? Tell you right now. Well, they tell us that despite the fact that were essentially the same level that we ended twenty seventeen the internal picture is much weaker and one of the metrics or look at the percentage of s&p stocks above the two hundred eight we ended last year to around seventy percent and now around forty percents markets gone sideways, but less stocks are participating less and trend. So that's just that. While there could be a little bit of bounce here after five straight down days that were a bit skeptical and the whole narrative of of bullish year. End rally may not come to fruition at easily that does not years. John what are the ban charts? Tell you. If you price yield or you price, or you chart, I should say if you chart yield are, you chart note or Bill price? What do you see there? I mean, I it's interesting. There was going to be higher yields a bond bear market lower prices. And the opposite is occurred with a ten year now three point zero nine three nine one of bond charts tell you well, again, let's let's take a step back. We just rallied from two eighty. You know in in late summer September up to three and a quarter. So some give back would be would be expected. I think also from positioning or sentiment standpoint, you have pretty close to record net shorts in the bond market from some large speculators. So whenever and is expecting bonds to go down that makes it difficult for those to do. So so not necessarily surprising to see, you know, pullback in and rates here, and that'll probably shake out some of the elite shorts in the bond market. But I think from a long-term perspective, we are in this in the secular bottoming process for yields. Remember, we've been in a downtrend free for thirty five years. I think we've put in a secular low, you know, a few years ago, and we're in that process of going from a downtrend an option, let's get back to the out of the market right now. The thing sucks. Let me begin with apple which I don't I can't remember if it's a stock or not but apple a bear market. You Toby earlier this morning, you're comfortable at one eighty state the case for that. Yes. So it had a big run up in the into earnings that run up started from around that one eighty level or also right around the rising two hundred eight moving average, usually when you pull back into a rising moving average you want to be a buyer apple still displays some good relative strength to the markets. I think tactically it can certainly be a by here. I don't think it's going back to new highs anytime soon, but I think it's a decent place to be if you're especially if you're looking for some spots to hide within the market in the news, the New York Times article six thousand plus words on Facebook on Sandberg Zuckerberg, the chart, I'm Facebook. What a different chart, isn't it? It is. And you know, I think that last move that we stopped at two twenty just prior to their earnings in the fall was kind of kind of the last ball trap. Moving defined bull market catharsis almost euphoria, isn't it? Yeah. It really was. I mean, it went they went from one fifty or a straight line two to twenty got probably got a lot of shorts to cover a lot of new new buyers, and then quickly reverse that and you now we're back below the lowest from the summer. So I think the trend and Facebook is a little bit worrisome. You know, we can find some support levels. But really, you know, we're looking probably closer to one twenty before it becomes more of a of a washed out by entry the consumer area. There's different there's discretionary their Staples things. I have never memorized. Well, but as a general statement, I P E multiple consumer stocks, obviously they've pulled back, but how much pullback if they pulled back. Well, yeah. Let's let's look at some perspective. We're actually discussing some of the video game stocks. Games aren't a consumer