Angen soaring and comments on its version of an obesity drug, and apple hires and focuses on that record buyback. Is the Company Using 110 billion to wallpaper over some weakness or were the results not as bad as feared . Steve covac covering apple for us from sfans. Hey, steve. So look. Last quarter revenue was down 4 , iphone sales down 10 , but no one really seems to care because apple gave its shareholders the biggest stock buyback in corporate history. Thats 110 billion, increased the dividend, 4 to 0. 25 and went towards modest growth which was expected as some have been trimming their estimates. China sales were down 12 , and in an interview yesterday, i was told iphone sales in Mainland China grew. Thats countering the narrative we have been hearing over the last few months. I also asked cook about his recent visit to china just a few weeks ago. He told me, quote, i feel great that in an extraordinary, competitive environment, that we grew iphone sales in Mainland China last qu
Santoli. The initial shock has given way to, oh, wages didnt rise as fast. Thats what the fed really cares about. Absolutely. Offsets within the data as well as i think that initial reflex Market Action tested the bounds of where weve been in stocks and bonds over the course of the week. 488ish on the 10year yield, touched it and came back. 4216 on the s p. The intraday pinball, that was a successful test. Beyond that, i do think that, you know, the markets unwilling to extrapolate this pace of job growth and feel as if this is a new regime. Good news is good news. Look at whats going on in the Retail Stocks right now. Theyre getting blasted. Its not as if people are saying, strong jobs, were going to have a big spending binge out here. Yes, its the Consumer Staples in surrender mode, probably should climax soon, but are taking walmart and costco down and other retail. The read so far is, you know, we have the economy we thought we had. We dont have to sit here, if yields arent going t
Ferro, Lisa Abramowicz and annmarie hordern. Lets get you to the weekend. Live from new york city this morning, good morning. This is bloomberg surveillance. Amh has started social be back on monday. Equity futures positive by 0. 7 . Alphabet and microsoft, they do not need rate cuts from the Federal Reserve. Alphabet we are talking about beats on the top and bottom line. Throwing a dividend an extra 70 billion Share Buyback. Lisa i was trying to put this into perspective because its one thing to see a random share gain 11 . Its another for it to be google. Those what 400 billion combined. Thats almost equal to walmart. Its basically to mcdonalds. Its unbelievable to see two names dominate in this way. Jonathan very happy with himself he will join us in about 10 minutes time. He says this is the mid 90s not the late 90s. For tech stocks. Lisa essentially this isnt just nice words about how Artificial Intelligence make robots cook our dinners for us this is about them expanding their Cl
In inflation lets take a look at where we are right now. Communication services down the most, 5 , were going do get into consumer discretionary. Two sectors are hanging on to the green, albeit just barely with utilities what a report. When we got this gdp report, below consensus, well below certainly where we were last quarter. What does it make you think . Theres a difference between being concerned about the top line missing because we could actually see that be revised up over the course of the next couple of weeks. I think the challenge is the data showed that the inflation on a month over month basis for cpi is showing up in this report when you look at the consumer you saw a decline in good spending weve seen slowing in terms of good spend ing in particular autos you saw that decline in the quarter. The growth in Services Spending were from areas weve seen meaningful inflation, so that inflation in areas like insurance, in health care, those are not particularly predictive, of s
Stress. Now, a month full of betterthanexpected Economic Data including u. S. Retail sales. The 10year, 4. 95 on the twoyear. 10year, 4. 6488. On the month so far, up by more than 30 basis points on the twoyear, 40 basis points on the 10year. Morgan stanley, for equities. Socgen, expensive valuation sitting comfortably with higher bonds yield. Lisa part is the right reason, part is the wrong reason. Retail sales came in betterthanexpected causing the increase of gdp positive for equities. The other side, it is stemming from increasing Inflation Expectations grading issues of how high the rates have to stay for how long. Jonathan we have heard the same thing from fed official after fed official. Patience and no urgency. Monetary policy is in a good place. Monetary policy is tight. Immediately after, hotter than expected retail sales. Lisa can they get ahead of this . Will he have the freedom to cut rates. It seems the market has moved on from fed speak. It seems the market is looking at