Likes it is 2 00 in new york. 7 00 in london. Welcome to bloomberg markets. Julie live in new york over the next hour for the top stories were covering around the world. The world according to george soros. He shares his latest use on markets and the Trump Administration in a bloomberg exclusive. The anticash club. Urging investors around the world to stop keeping money in cash as stock markets climbed to new highs. Broadeninge of a expansion in the global economy. Look no further than caterpillar. We have u. S. Markets closing in two hours. We are back to record highs. The nasdaq has a little bit further to go. At this point we do have record highs, gains for the major averages. Putting in all time highs, the nasdaq had been between gains and losses in the volatility we saw yesterday, the worst day of the year. Overall a bullish tone. The nasdaq has the biggest wade into apple. Apple will launch an ebook reader. Weighing on apple, some analysts are talking about the possibility of wee
High for the day. We should not get too complacent. We have continued to see swings. If you look at the gains, they are pretty broadbased. Only energy is lower. That has been the Weakest Group throughout the day. Utilities recovering as we see a little bit of a back up and yields today. Tech shares also strongs. Also strong. If you take a look at the weekly performance, we are setting up for the best week for stocks overall in quite some time. For tech specifically, and the xlk, it could be the best week going back to 2011 with a 5 gain this week. That would be even bigger if you counted the rally which began last friday. Cisco is helping lead the technology gains. That company is trading at a 17year high. The company came up with revenue that rose for the first time in eight quarters. The forecast was also positive and the company said revenue in the current period will climb as much as 5 . We have seen other companies and related businesses also on the rise. On the call today, the ce
At asions last night factory in the houston area will not pose future dangers to the community. The containers themselves are in a remote area of the plant. Officials say harvey knocked out Critical Power supplies required to keep peroxides cool. 15 Police Officers were treated at the hospital. Floodwaters are receding in the houston area today. Firefighters plan to conduct a search in the areas that have been in accessible. The death toll has risen to 31. Harvey has knocked out one fourth of u. S. Oil Refining Capacity offline. Houston, fire personnel and search and rescue teams have begun conducting doortodoor searches now that the weather is clear. Officials are trying to determine how much damage there is and whether any civilians were left behind. That process could take as long as two weeks. The cost of rebuilding from the storm may be a roadblock for President Trumps tax cut plans. The president has called on congress to quickly deliver a harvey aid package. The cost may face re
Minutes into the trading session already. Julie hyman keeping an eye on things. Reached the0, we level yesterday, closing just below it with the doubt hitting and other record dow heading another record. S p 500 at another record. Nasdaq not quite there, little change but to the downside. For thebeen ramping up anniversary of black monday, october 19, 1987 is the date we have been watching. And that is when we saw the market crash. We want to put things into prepress into perspective. This looks at percentage changes in point changes in the Dow Jones Industrial average. You see it, it shows how big of an anomaly it was. To put it into perspective, if you would see the same change today in the dow jones, the same magnitude, it would be about 5000 points coming off of the Dow Jones Industrial average. So to show how unusual it is. The moves we have seen recently are much smaller, not just in the dow but with the freedom but with the three major averages. Withve seen point moves, the s p
Since may 17 was the last time we saw the s p 500 fall by at least 1 in the last time we saw drops of this magnitude in all of the major averages. To go look at the bloomberg g btv 912. Int is a chart of the moves the s p 500. Not seen e have again, this is another way to look at the move. Here is the oneday move and we have to find the drop. What is notable is that we havent had big moves in either direction really since that time. Theyve been relatively muted as we have seen volatility compressed and the daily moves compress and we have seen the range compressed. As scarlet mentioned, you do have the north korea rhetoric that was the spark and you also have the background of howard marks and people at pimco in t. Rowe price cautioning against being too bullish in this market. Averages,the major there are big declines. A lot of them tend to be quite volatile. ,he biotech index semiconductors around 2 . Is 1. 5 . Index the small cap outpacing the largecap stocks. Of the worst percentag