And then we have the fullyear forecast of like industrial names you need in your portfolio. And wall street pessimism jamie dimon and others having sharing their view on saudi arabia. And good morning to you, im alix steel along with my cohost guy johnson. It is good data here in the u. S. Guy good data for the u. S. And not for europe. The pmi data, a real gap beginning to emerge in terms of economic performance. It will be fascinating to see how the ecb addresses that. But you have the story when you look at rtx, ge, and 3m today. All the stocks are doing well. It is fascinating. We talk about what is happening with the end industrial economy of the states and is it counting back . Alix above 50 and they are being rewarded for the beat. It is a story that is exacerbated by the positive data. Guy are we talking about this just because tech has not arrived yet . Alix probably. Guy they will be out later. Are the industrials in position where they can take in peoples portfolios . Will w
Lets start with todays market as you heard scott say, were heading to session lows. Dom . Just about session lows. Its been a generally positive day, kelly, to your point. But at the highs of the session, just to give you an idea of the context today, the s p 500, which is currently up seven points right now, was up roughly 42 points at the high, and up roughly two points tat lows of the session. Again, 4224 is the last trade there. Keep an eye on 4236. We mentioned this socalled 200day moving average or longer term trend line for the markets on a rolling basis, thats something traders are watching. The dow industrials up about one quarter of 1 , 32,029. The nasdaq up to 13,040. So losing some steam in this midday part of the session. One part thats been gaining steam throughout the course of the last weeks is bitcoin. If you look at this chart, over the last year or so, we have now topped 33,000. At one point today, depending on which metric or exchange you looked at on bitcoin, we we
Six basis points to 4. 9222. We do see the bloomberg dollar index down about zero point 1271 or 1272. Crude is down, to 89. 13. A down day to end the week. Jon staying on that theme, this general oil story has taken a bite out of a number of sector stocks, including the airlines, which are having their tough instructions 2021. We have seen some carriers talk about cautious outlooks in part because of jet fuel prices and names like american. The profit outlook from hewlettpackard enterprise is not inspiring investors. That name is down 5. 5 percent at this hour. Lets continue to track what is happening in the auto sector. We have headlines around General Motors. It has seen the most substantial uaw offer today. Where you could potentially see the majority of workers getting more than 40 per hour. We have to continue to see how things play out. A mixed performance right now. Stellantis is down. Gm is up zero point 1. 6 . Matt uaw is negotiating into each company has its own story. David
Open. Plus signs of a resilient consumer. Amex beats expectations, record revenue for the sixth straight quarter. And transports continue to be in focus. Theyre on pace for what would be the fifth straight weekly loss for that group. Csx reporting a mixed quarter on weaker rail demand. Knight swift saying freight demand remains steady. Lets get to that tenyear hitting 5 , as we said, late yesterday. This is what the chair had to say about bonds and rates. Are we seeing the longer run bonds . Increases in rates . Are we seeing those come through in Financial Conditions in a persistent way, and i think if you look at Financial Condition indexes, the answer, so far, would be yes, you are. Persistence, it will be a matter of just seeing whether or not but certainly, if you look at Financial Conditions indexes, theyre showing tightening, and its a lot because of longer rates. He did say a few months of disinflationary data is just the beginning, sara, of whats going to be needed. What did y
Well. I think the s p has set 23 new highs for this year. If you look at treasury yields, you will see that right now it looks like the 10 year is at 438. So lower than earlier in the week. Two year also lower at 478. If you look at some of the meme stocks, that Activity Still alive and well this morning. I will see shares of gamestop up after they fell by 30 yesterday. Amc down by 15 yesterday. But this morning it is up by 4. 3 . You have the blackberry stock up again by 1. 3 . Those stocks by the way are up come back a second. Thanks. About 83 and 72 respectively. You were here you saw the ppi, you didnt see the cpi. But i read it. And that is where the yields boom, 438. Meantime china announcing its most aggressive steps yet to revive its struggling rehe will stays sector. Beijing will have a 42 billion relending fund which they will try to put together to help local state owned companies repurpose unsold properties to public housing. China also eased Mortgage Rates nationwide and p