Countrys biggest bank is taking issue with and where he sees the economy going on. And later, personal finance expert suzeor orman is here. Im melissa lee, coming to you live from studio b at the nasdaq. On the desk tonight and we start off with a full slate of Earnings Reports. Microsoft, alphabet, visa, snap, all on the move after their latest results. We have full team coverage. We start off with steve kovach, who has all the details from microsofts quarter. The stock is higher right now, steve. The Conference Call is in about a half hour. Microsoft shares are up. The solid beats on the top and bottom lines, but heres whats more important. Reversing some trends that weve seen. Azure cloud growth up 29 versus the 26 gross the street was looking for. Thats exactly what investors wanted to see, after several quarters of declining growth. Now, what to listen for in the earnings call. Do they believe azure bottoms and continue that acceleration that we saw last quarter or is it going to
Psychological five level last night before backing off. Investors closely watching the weekly close and what these moves mean for the yield curve. Mike santoli, cnbc markets commentator joins us. I did mention uninversion is happening for the wrong reasons. Exactly. Uninversion, in general, is not great. This time its happening because people are willing to sell the long end bonds. This time there is a little bit of a bid in the short end. You have had twoyear yields come down. All that being said, you know, the stock market is down a little less slightly than it was a few minutes ago. It was a very determined angle of descent down to 1 drop in the s p 500. It just seems like markets getting a little twisted up and risk averse in advance of the weekend. There actually is a little bit of a bid in treasuries. As soon as you get maximum afraid of 5 yields, we back off 5 yields. And its a matter of making our peace with it and why is it happening is part of the story. But just what the eff
Plants. Well get the latest. And the iae saying the israelhamas war has oil markets on tenter hooks. The general take means the fed may look past this one. Well, look, theyre struggling on shelter very much because its rent. They took the housing out in the early 80s, and theres just not enough places built. We had some numbers this morning, i was watching on frank hollands show. Its 1 down in new york. Thats not thats not going to cut it. Jay powell wants to see housing rolled back a little bit more. Its up 40 . Rental, you need more apartments built. I think that he wants to see more good numbers in a row, and i cant say this is a good number. People were hoping for a 0. 1 and you do have 0. 1 if you take core exshelter, and people are looking at some of the new rent data and that will eventually get folded into these monthly numbers. And i think energy. But i just think that what happens is that you hope that other things make it down and make up for it, and you dont. Look, rent it
Earnings expectations are for mega cap tech coming in. This is unbelievable you want to know how important these are . Mag seven earnings on aggregate are expected to rise 40 in q1 revenue is expected up 13 versus 2. 3 for the rest of the s p. The rest of the s p is expected to see a 3. 1 decline in earnings sounds like last quarter. Thats exactly what happened last quarter and let me tell you why its so critical that these Mega Cap Companies deliver, and this relates to the market itself on monday i said, i felt as though the market was bought bombing, and one of the reasons i felt it was bottoming, i didnt think there would be followthrough selling because you had strength in financials you had strength in health care. You had strength in industrials. The market holds its 100Day Moving Average we now rally up to the 50Day Moving Average heres the handoff its got to come from mega cap earnings to get through that 50Day Moving Average to restore price above the 50Day Moving Average. Fi
Dow adding 77 points. People waiting on the feds decision. Earnings today facebook, northrop grumman. A lot of earnings. Olivia all eyes on 2 00 p. M. Yesterday, the s p posted its biggest gain in two weeks. Lets show you whats happening the fedollar ahead of statement. Nothing, essentially pure little changed. 96. 78. Dex euro above 1. 10. A surprise in the Housing Market last month. Pending home sales fell by 1. 8 for june. First drop this year. Economists forecasted sales will rise. The Housing Market is not going as many expected due to tighter lending standards and a limited selection of properties. Lloyd blankfein is bullish on u. S. Markets. Thelopment sachs Ceo Goldman Sachs ceo took part in an interview with Mike Bloomberg. He was asked why he was optimistic. Consumers have to leveraged, banks have de leveraged. Housing prices are starting to stabilize and move higher. Were in for a long, positive market. Olivia glenn fine says the u. S. Lloyd blankfein says the u. S. Will get