Im katy grindfield in new york, welcome to bloomberg markets. Markets blowing past what we learned about ppi in april. Take a look at big tech. Im going to go ahead and call that unchanged wobbling around we havent seen that big leadership from big tech that weve gotten used to over the past few weeks. Its been a different story. And meanwhile, small caps at the russell 2000 right now, really lead the way. Currently up by more than 1 . 1. 2 at the moment. Well see how long that lasts. But for this moment, small caps are your big winners. Home depot though. Posting weak result this morning for the sixth straight quarter as the housing slump hits the Home Improvement retailer and shoppers hit pause on renovations. Bloombergs john e. D. s joins us with all the details. What went wrong in the biggest way for home depot . Well, its really the macro factors. Its the comparisons really with the strength they had during the pandemic when everybody was, you know, buying bigticket items to impro
Good morning. Welcome to Worldwide Exchange on cnbc. Im sara eisen. Im wilfred frost. Good morning to you from me as well. Welcome back. Thank you. Lets get straight to the market action. Should we pause and discuss vegas . Was vegas good . Breaking even is always a success. You cant be a cnbc commentator and breaking even is all that you need to do. You need not to lose. Shout out to some of the great dealers who say they watch Worldwide Exchange when they get home in the morning. At 2 00 their time . I like that. Good for them. They go from gambling in one sense to educated investing. Exactly. Not always, but we try to make it educated and give you an edge. But your trip to vegas has made me want to book. Im going soon. Back to the markets. U. S. Futures are mixed. You can see the dow fractionally higher. S p and nasdaq lower. Yesterday all three declined. 10 out of 11 sectors, the s p was lower. That sounds bad but overall declines were a third of a percent. The only sector in posit
Was down slightly. Down by less than 0. 2 . Stocks in china were higher with the hang seng up wi a thiby a ta percentage point. The early trading in europe at this hour, things are mixed. The dax and ftse are slightly higher. Lets look at crude oil prices. Again, yesterday was a down day for equities. If you see another down day today, thats the first time in the first time in first backtoback losses in a month if you see things close lower today. Energy markets showing wti by 11 cents to 53. 31. Now to the agenda. Some government stuff coming out. Economic reports coming out today. The january trade deficit out at 8 30 a. M. Eastern. Thats followed by january Consumer Credit numbers at 3 00 p. M. As for earnings, brownforman, the maker of jack daniels and corbel sparkling wine that company will report results before the open along with dicks sporting goods, and after the close, h r block. April 15th is coming. It is ive done nothing with my taxes. How about you. Ive received things. I
Take a look at the u. S. Equity futures at this hour, youll see green arrows. S p look like they would open up 2. 5. Nasdaq just over 13. Overnight in asia the knnikkei s up. 25 . The hang sang up just about as much. If you take a look at the early trading in europe, at this point, the dax is higher. The cac is france is up. 80 . The ftse is down. 10 pkts. Strong over there. The scuttlebutt yesterday looking at it. I wasnt here in the morning. Adp was strong so the market was weak. There we go again. It was that, but also the idea with some of the chatter in the morning that, look, we already knew this number was going to be around this. A lot of it already baked in. Do you believe the fed will raise rates if its a strong number on friday. No. I need to see it. Who knows. Maybe they want i think they want to. Theyve cried wolf so many times. It wouldnt kill them to do a quarter point to reestablish credibility. Once a year you get quarter point. Usually its once every ten years. We got
In the early trade in the european markets right now, youll see that at least at this point, there are some red arrows there as well. Looks like the dax in germany is down by 0. 4 . Right here in the United States, it looks like the dow futures are now 71 points below fair value. S p futures off by 12. Among this mornings other top story, were watching the price of oil. Crude oil under pressure again today. This follows yesterdays drop of nearly 3. 5 . That drop came after opec said Global Demand for crude would be less than previously thought this year. In Corporate News, jpmorgan reportedly wants to sell new securities that would pass along the credit risk on 1. 9 billion in mortgages. This has been left to the government for the most part since the financial crisis. The wall street journal reports the bank is expected to price the residential mortgagebacked deal over the next two weeks. And apples response to the Justice Department is due today. This is the latest chapter in the dod