The influencer jon ferro for you on Bloomberg Radio, bloomberg television. Got all of this going on this morning. I want to do the markets to start our simulcast in this hour. We will do the data check as we talk here. Spx up 0. 7 , and once again, the nasdaq less. Is the trend in place . Jonathan the trend is in place, and the small caps outperform. Many people, and the words of jonathan callup, willing to look of Jonathan Golub, willing to look at the forward outlook. Tom we are getting into all of the year ahead looks and all of that parlor game. D a fewwhat ferro di years ago. Forget about it, wait for march. Would you say the consensus right is cyclicals, materials, and small caps . Jonathan overwhelmingly it is the consensus. That is the story. The other consensus story as well is the weaker dollar. Socgen out to 1. 27 on eurodollar, year end 2021. We still havent got through those levels from late august. We didnt close below them yesterday. A little bit of weakness again this m
Anna edwards is in for jon ferro and lisa abramowicz. Ferro taking the entire month off. Lisa only taking half the month off. We are thrilled anna edwards could join us today as well. Remember when augusts were boring . August is no longer boring, is it . Anna i remember when all of europe went on holiday in august, but no longer. We got alltime highs on u. S. Stocks. Is that really out of kilter with the underlying u. S. Economy comes with the underlying global ok . Omic story, and is that tom the persistency across yields is amazing. Yields come up 4, 5, 6 days, and they roll over and come back down. We are not through to new lows in the last number of weeks on yield, but nevertheless, watching that very closely. We will get to that with an important guest any moment. David malpass with us later in the hour. I want to go to a story which we have been covering the last number of days. For me in america, it has gone radio silent. That is belarus. This is between poland and russia, with
[no audio] tom good morning, everyone. Bloomberg surveillance. We welcome all of you worldwide, on Bloomberg Radio and Bloomberg Television. Some technical difficulties there, which usually start with tom keene because i am the one most remote today. I am still at my home here near the mount sinai complex. It has been a most extraordinary morning. Let me give you a sense of the new slow right now before we get to our good conversation this morning. Is certainly decidedly new and more grim news on the pandemic. This has been the seachange news this morning. We have seen it over the last couple of days as well. And in the markets, as Jonathan Ferro has mentioned, a real deterioration over the last number of hours. All of this the reality. I think i could simplistically just say because we have wiped away any sense of a vshaped recovery, that ended somewhere in the vicinity of 2 40 p. M. Yesterday, didnt it . I think there was Jonathan Jonathan i think there was a little bit of exuberance
Major breakthrough in treating the coronavirus, a steroid that could cut deaths significantly among the sickest patients jay powell assuring the market is willing and able to backstop the economy. And finally, fiscal stimulus reports the white house is preparing a trillion dollar infrastructure package for everything from roads and bridges to 5g network. So, were these the three things the market needed to hit it big today . The three horsemen. Hi, mel. Hi, guy how are you well, i mean, they definitely helped, and im looking forward to Jerome Powells testimony tomorrow when somebody asks him what his favorite hardhitting question, what his favorite color is thats always riveting to me its all about the fed i think we all agree with that their commentary has been nothing short of astonishing the infrastructure supposed infrastructure bill, obviously, caught everybodys attention im hard pressed to believe that will get through this year given the divide we have, politically. The covid ne
Close, the dow down 57 points and the s p 500 down 2 and the nasdaq snapping a sevenday win streak so whats the take on the Market Action guy adami, made it in like under the wire, your box slid in there, appeared, bam, there you are. Sweet hi, mels hi, guy how are you so we talked about books we read in college last night. This is going somewhere, by the way, and last night i mentioned 100 years of solitude. I had to read the moby dick you might herman melville, remember that one . Yeah, of course its about 570 pages and someone like me you sort of skim it, but every once in a while you get to a page that seems important so you bookmark it, you know what im talking about . Someone like you that has the highlighters no, i didnt defile the books. Fair enough i defiled, but todays one of the days you want to bookmark and its for a number of reasons and i have no idea yet market reversed today, but the market reversed today and look at three stocks in particular look at the move in apple