Full circle. Rally, caps its 50 briefly touching a record before closing just below that level. The 175 days between peak to trough and back to peak make it the fastest rebound in history after a crash. Stepping up to the pressure. The u. S. Says it will impose extra tariffs on some eu goods from september 1 in its longrunning dispute over illegal subsidies in the airbus case. Plus, no compromise. Democrats and republicans point the finger at each other, as the stimulus debate gives way to electioneering. The two sides still remain trillions apart. Just under an hour away from the start of cash equity trading in europe. We are looking for german Consumer Prices. We are seeing actually a drop month over month of 0. 5 . If you look at wholesale prices from a year ago, there is a gain of 0. 5 sorry, wholesale prices from a month ago. Prices, 0. 5consumer percent drop, wholesale prices, 0. 5 gain. From a year ago, we see wholesale prices that dropped 2. 6 in july. From a year ago, the drop
Record high amid massive inflows into Exchange Traded funds. The state of Digital Currencies amid that rally. Caroline apple facing weak demand for the iphone in china. The recently slashed the price of the latest model. We will discuss that and more. First, lets check on markets. The macro field to the day the pce deflator what is the Inflationary Pressure the Federal Reserve is looking at . Came in, in line with expectations. Write for the Federal Reserve therefore to be pausing on rate cuts. A relief to the market. We see 10 year yields come down from four basis points, down across the curve. Im looking at a volatility and a fear gauge that strengths shrinks less than a point. Look at what you are just outlining. Where the action has been is the technology, bitcoin, up 4 , 63,000 the previous record in november 2021. Where are you looking in the micro . Ed a lot in the earnings. Snowflake is the big mover, down 18 , but on track for its biggest drop on record. Two pieces of news. Th
European equities rise, selloff in the bond market, but equities are up. There are some interesting themes in the market today. Polish assets, insurance companies, polish stocks all doing well on the donald tusk victory, getting close to a victory. Polish assets responding strongly to that. By 13 points. Shell is up by 1. 3 , record high. We had been seeing a number of factors driving this. The most interesting one is that this is a company that pivoted away from renewables. It decided it was not getting the rate of return it wants, not getting the rating it wanted from the market. It wanted to be valued more like u. S. Majors. Maybe some evidence that that is really working. Alix shell sold its shale assets in the u. S. Will they have to go back in . Yields up, stocks up. Go figure. 10year yield up by eight basis points. Stocks dont care. The s p is up by 8. 2 . Tech outperforming, up by 1. 2 . Charles schwab up 6 . However, net interest revenue, 24 . We know why. Clients moving cash
Dani katie welcome to Bloomberg Markets. You look at markets at the moment and you can see there some green on the screen a high me. You can see the s p 500 currently up by about 3 10 of a percent. You look at big tech right now the nasdaq 100 even higher paid 4 10 of a percent. Small moves overall. A change in direction after a pretty rocky start. Taking a look at the Philadelphia Semiconductor index you can see that sleeving games right now. Lets get right to one of the big stories today and that is peloton. The Fitness Company announcing its ceo is stepping down after two years. Its also cutting 15 of staff as part of its restructuring efforts and among Bloomberg Technology joins us with more details and i hate to say this was a surprise what was your reaction . Ed the Market Action is a big surprise. We were climbing steady, session highs 18 . Took the resistance off. Speed and power now we are at a flat road. Completely flat on the stock. It is astonishing trading and the markets
Like harvard, where we are now. One Company Betting Big on boston is General Electric. Multinational broke ground on a new World Headquarters right here in the city. The ceo talked about the collaboration between the company and the city of boston. Jeff one of the Oldest Companies has moved its headquarters to one of the countrys oldest cities for the purpose of creating this huge, whether its in Renewable Energy or Life Sciences or technology or aviation, these the things we want to bring to the city. These of the things we think we can do together. Caroline it is a year when they won the bid for ge. It cost the city on property relief on top of a incentive package from the state. I sat down with the cfo to discuss why boston was the topic. Top pick. Jeff i think boston is unique. You start with a place where there is more research spent in any other place in the world. It is a bed of ideas in a sea of ideas. There is such an entrepreneurial irit and so many startups in a deep technol