Alphabet, the stock higher after reporting a quarter that is under way. We have full Team Coverage under way and gene munster is listening in on his phone, and lets start out with deerd deid bossa. Im sorry guys just on the call right now the cfo was just talking and i was listening so intently because she was talking about the Second Quarter and shes seeing some signs of commercial activity recovering and she said it would be too early and too premature to make any kind of conclusion or talk about how durable that may be. Going back to the results the ad revenues were hit and perhaps not to the extent that wall street was expecting and they echoed the comments that cfo made saying that it was a tale of two quarters, strong at the start and then ad revenue declined he also struck an optimistic note saying he had reasons to be confident. Have a listen. Let me just explain that to you. He said he was optimistic because as they saw after the financial crisis in 2008, one of the strongest
Here it is, word for word, quote, trump says china may or may not keep the trade deal, end quote. That sent stocks into the close. Check out the move on the nasdaq, for instance it was up big for most of the day and the sharp slide in the final moments of trade ditto for the s p 500. So guy adami, is china back in play here . Is this the next big risk factor for the markets . Yes, and before i get into great detail, i have to wish tim seymour, as he power pitches today, a very happy birthday just wanted to get that out. Happy birthday, tim seymour what was that very kind thank you. Yeah. I absolutely think this is a big deal and we started talking about it last week, and not in terms of their trade deal or where theyre going to keep their end of the bargain and in terms of some of the rhetoric coming out of the Trump Administration what im commenting is the rhetoric seems to be getting louder and in no way, shape or form is that market bullish especially given the fact that the markets
Back of that data. Refinery utilization was positive by 1. 4 . The market was looking for that to go into the negative by 0. 5 . Crude Oil Inventories rising by 415,000 barrels only last week. Gasoline inventories was a drawdown of nearly 2 million barrels. Lets check u. S. Markets more broadly. The major indices are really unchanged, but we have a few major movers, including viacom cbs, which disappointed in its First Quarter as a combined company. Investors are really punishing that stock. Guy a bit of breaking news, the unicredit boss looks like he is emerging as a potential hsbc ceo to get the job. Remember, noel quinn currently yethe interim ceo at hsbc, the interim ceo putting out a is involvingk that deep changes in the way hsbc runs its business and potentially a retrenchment back to the middle east and into asia in particular. He thousand jobs potentially going even further down the road. There were Big Questions as to whether or not noel quinn would ultimately be the person t
Compare it to. Reality check for the real real what a cnbc investigation uncovered sending the stock tumbling come on in the water fine. Dow and nasdaq soaring to alltime highs as treasury spreads hit the highest level since july is the bond market signaling its time to take off life jackets, jumping back into the record rally we mentioned the yield curve if you look to it 10year yield 1 the. 86 . German bunds back to alltime highs. Jp morgan to 130 all across the financials great gains we talked about it yesterday but ill say it again. Earning season a better than expected volatility is getting sucked out of the market right now. We were talking about 18s, 19s a couple weeks ago here we are in the 13 and a half to 14 and a half call at its you amazing how quick people digested whats going on in the options mechanic one area that i see more and more is Energy People going after some of these areas if you are looking at volatile names in there thats where we have seen it. Weve had 40 di
Brian sullivan is reporting live for us from hong kong today. He will join us in a few moments. Behind me you can see the dows action from yesterday shedding more than 800 points for its fourth worst point drop on record, closing down by 3 or so after yesterdays historic move, here is how your money and the Global Markets are setting their day up today stock futures indicating the dow will open higher some stability brought to the markets. Interest rates are a huge part of that market story the dow jones up by 136 points we lost 0800 yesterday. Yesterday we saw the socalled inversion of the yield curve the twoyear treasury note and the tenyear treasury note yields, this means shortterm bond rates are now paying more than longterm bonds, historically this is considered a possible recession warning sign and new overnight, the yield on the 30year treasury, the long bond in the United States, dropped below 2 for the first time ever. You can see right now currently 2. 016 that move lower, a