Turmoil in Hong Kong Hits the swiss watchmakers first half sales. Chipmakers gain ground as Dialog Semiconductor raises its guidance and asml forecasts solid growth for the rest of the year good morning top of the hour on street signs. Lets go over some price action weve had over the last 24 hours ending with the wall street moves yesterday. What we saw on wall street is u. S. Equities slipped for the first session in four days the dow ending about 23 points lower. A tenth of a percentage point. A fraction weaker as we get into the heart of the earnings season the drops were bigger for the s p and nasdaq, but still about a third and a fourth of a percentage point the focus has been on earnings season with some of the key banks reporting yesterday. Goldman sachs, jpmorgan, wells fargo looking head we also get bank of america one of the ones you want to watch out for. As we were talking about, the focus is back on trade more commentary out of the u. S. President suggesting that they coul
Diesel. Were talking diesel engines with cummins, that big engine company. Ceo is here on fox business, so i hope you watch. The bears, folks, have called the cops on the bull party. As we kick off the final hour of trade, that partys breaking up. Stocks pulling back from record levels for a second day in a row. The dow jones down 470 points. That is a loss of about 1. 25. The s p down 66 points, and the nasdaq its a bigger chunk here, 2 loss of 323 points. And the russell 2000 losing 22 points. Now, one thing for sure the markets are getting no help this time around from semis, software or cybersecurity. Igv is, Ishares Expanded Tech Software etf, is down as you see about 4. 33 . The philly Semiconductor Index losing about 2. 7, and then the amplify cybersecurity etf, Ticker Symbol hack, is down 3. 5 but its not just stocks. Investors are showing some real caution aahead of jay powells testimony. The Federal Reserve chief appears before congress twice this week, first tomorrow at the
Instead, they are Holding White coffins. This represents the World Leaders who instead of helping people and gaza all sending them coughing for 12 months ago. It was a different scene. This is thought of helping build festive carts for christmas parade. The to a different cities in the occupied west bank, bringing joy to children. This year. People in bethlehem want to remind the world their children are being killed, injured, stores, and displaced. This can be considered the most silent and turns of their often pop 3 out of jerusalem to then it to be turned in by. Im usually when he arrived secure. This is basically the announcements of the beginning of the christmas celebrations today. The assignments can be heard during the patry arc with the coffee, radio journalist george. I know, as he says he wanted to emphasize the jesus was native to the law and just like them, we are here to pay but also to ask the address because it is fine. Its just that is not enough. We have just these, u
Risk per file in the market, and were not seeing any indication for the moment of worsening in our cost of risk. They post 2. 8 billion, doubling its profit as they tell cnbc euros banks have weathered the storm. If you look its basically the same for the large banks, whereas in europe its for all central banks, and that is why theres absolutely no Systemic Risk in europe european leaders give a lesson as chipmaker inindivinindividual i ion starts construction. Nvidion says they mortgage stauft. We must reduce and invest into our deem because the Semiconductor Industry doesnt stand still. And there are fears amid the First Republic Bank Collapse and the fed looks at a tenth and final hike hi, there, everybody, a warm welcome to street signs. This morning were off to a strong start in terms of equity trade. The stoxx 600 is rebounding about 0. 5 , not enough to make up for the losses we saw yesterday, but a decent start nevertheless yesterday the main benchmark dropped 1. 2 , the worst
Fall just as fast. Plus after taking off jack dorsey square, Hindenburg Research has a new target. This time carl icahn and we lay out the key factors at play. Its wednesday, may 3rd, 2023. Youre watching Worldwide Exchange right here on cnbc good morning and welcome to Worldwide Exchange. Im frank holland. Lets kick off the hour with a check on stock futures after a sharp decline yesterday. Looking at futures right now, theyre strongly in the green across the board you can see the dow opening up 20 points higher today is very early. Its a huge day, all of this ahead of the federal Interest Rate decision out ahead at 2 00 p. M. And then the News Conference to follow a tenth straight rate hike from the fed, one of the items on wall streets wall of worry along with the continued debt sector much more on all of that coming up later in the show with that in mind were checking the bond market starting off with the benchmark 10year note at about 3. 30. The 2year yield back below 4 were also