Results in seven years. Apples china concern, data signaling a 19 tumble in iphone shipments. The worst performance in four years for apple in china. Lets begin with earnings as the markets look to extend yesterdays rebound rally. Jim, theres a lot of big industrials we can go to. I know we can focus on tesla. I want to focus on mary barra. She had an unbelievable quarter. When i say unbelievable, i mean they delivered on everything shes been talking about. They only want to make cars that they make money on cars and trucks. They did a very, very good job. We can talk forever about elon musk because elon musk is fascinating. Mary barra is workmanlike. Workmanlike is what works when youre doing cars. That raised guidance, david, was extraordinary. As was the beat, frankly. How is it that the analysts miss it by that much . Is that rhetorical . I dont know. It feels like thats not something that should be that far off when it comes to gm i agree. I was not modeling gm, but i was expectin
Losses. Concern about luxuries that again. The bond market has taken something of a pause, but you get the sense investors are adjusting to the higher for longer narrative from the fed. Fed officials saying further hikes are likely. The focus on the Auto Industry in europe on the back of continued discussion about this probe by eu officials into chinese autos. A couple of individual stories barclays a stand out in terms of the upside in the banking sector. This bank listed in the u. K. Upgraded by Morgan Stanley for the First Time Since 2018. Prospects for that lender despite concern about the slowdown in terms of the u. K. Pound down 3 10 of a percent. We keep an eye on the benchmark 10 year in germany. Yields of come in, money has gone in to the benchmark on the back of the news the German Government will be reducing issuance. For the fourth quarter, you did see money coming into the back end of that curve in germany. Alix s p off by 1 . Having a hard time pegging it to a specific ne
Know, the market was acting as if there wasnt going to be anything to pay for that. I guess we learned our lesson last week and culminating on friday. We did and we were able to break below that critical area from early from late february off of the nvidia earnings and now youre getting a little bit of a bounce. I mean, this is squha of a weak bounce. I still think sentiment is selling rallies and i think that was reflected the entirety of last week. But i do believe understanding that were coming into what is really, really a critical week in terms of further price deterioration im not so sure just looking purely at technicals and understanding youre going to get 38 eps growth from the mag seven, im not so sure that there is that much down side ahead of us. I think that the market is trying to find a little bit of an area in which we could bottom from. Im not telling you that the up side is going to look anything like the up side that you got from the fall into january and february, b
Vaulting 1. 1 did feel better than the kind of run of the mill rally because it was as broadbased as you can get. And thats a terrific sign of staying power. But we had a real thicket to get through. Lets parse what happened today and figure out if the market can keep rebounding, because its not clear to me that it will. First we came in with minus 5. 46 , not as negative as it was a couple of days, but still a coiled spring. You know i fall the sbfs religiously. You have many down days, you can almost count on a bounce. I like to look at a years worth of the oscillator, we bounced on levels in august last year at almost the exact same readings, and then the market roared until this threeweek selloff. Its weird that the market can still bounce because it means there are rationality to things, but not every oversold bounce has staying power. In august and in early october did not in retrospect indicate a true bottom. Matter of the fact, things went right back to being awful. So maybe it
Of strong earnings. Airline also slashing its expected deliveries amidst boeings quality crisis. And teslas asking its shareholders to reinstate elon musks 56 billion pay package. That was back in 2018. This after, of course, Delaware Court voided that compensation earlier this year. Lets begin with the markets, set to open higher after the dow ended six straight sessions of declines. S p, nasdaq, russell did extend their daily losing streaks to three. Yesterday, as you know, the fed chair suggested that rates could remain higher for a longer period. Heres what he had to say about battling inflation. More recent data shows solid growth and continued strength in the labor market but also a lack of further progress so far this year on returning to our 2 inflation goal. The recent data have clearly not given us greater confidence, and instead, indicate that its likely to take longer than expected to achieve that confidence. That said, we think policy is well positioned to handle the risks