Sandwich in the land we are here to settle the score. We begin with a monster day for retail where something happened check out shares of home depot, urban outfitters, kohls, all beating on ets but mixing on revenue. The stocks had a mixed reaction today. Urban outfitters the big after hours mover, so which is telling the story of the health of the american consumer. What do you say . It is a great question. The health of the american consumer, we can debate it the one that tells the story to me is home depot i will tell you if we had a conversation last night and you told me all of the numbers home depot would report and you said, where are the stocks going to go, stocks are down 3 the exact opposite happened. I guess the market is giving home depot a pass once again sales growth wasnt there yet their margins improved. A mixed bag for home depot given their valuation, given the take we saw today, the fact is stock is up today tells me the stock wants to continue going higher typically
What is the distance between an inflationary narrative and something similar to goldilocks . That will be the key question. What is the difference in terms of how big the change has to be in the number for people to either be talking about gloom and doom or everything is perfect . Annmarie he said stagflation risk off. If it is north or at 225, goldilocks back on. Jonathan he does not detain stagflation. Looking at apple. Up i almost 6 . Sales declined less than fearful. Lets talk about the financial. The biggest stock buyback ever. 110 billion. The top five biggest buybacks in the history, it is apple, apple, apple, apple, apple. Lisa is this a growth stock or value stock . Is this a stock that has so much money and a company that has so much money the best thing you can do that is give it back . That will be a key question of how you value some of these names that have become more established in their upstart beginning. Annmarie it is a massive buyback but it is only 4 of total Marke
Probably on the continued move in Interest Rates. Its a stunning selloff there today. Materials, energy, staples also decidedly weaker. Also tech and Communication Services have been about the only bright spot, there they, still hanging in the green and its kept the market picture from looking worse, as well. Nvidia, apple and amazon getting a lift today. It takes us to the talk of the tape and whether the Fourth Quarter will deliver investors as history would suggest as it does, or is this hills too steep to decline. Nice to see you. When you sat down, utilities, its pretty stunning to see a sector move to that degree. It is incredibly stunning and theres the yield impact. If you look at a dividend yield of 100 basis points less than the tenyear treasury and why take on the rick of compliance and revelation when you can buy it, if what were seeing within the Technology Side of things and theyre a bit more defensive and is that why were seeing so much strength in megacaps as they see t
Why our traders are all sour about one iconic American Brands new name for its spinoff. Theyll corn pop off. What kelloggs did today. Im melissa lee, coming to you live from studio b at the nasdaq. On the desk tonight tim seymour, karen finerman, dan nathan, and guy adami. We start with the unstoppable rise in rates. 4. 7 for the first time in 16 years. It hasnt closed above that level since august 2007. Longer term bonds rallying, with the 30year hitting its highest since 2010. The move taking a hit on ratesensitive stocks. Look at the utility sector, seeing its biggest drop in three years, falling to levels last seen in june 2020. Aea, nisource leading the losses. Can rates keep going higher from here . What impact can they have on the markets . Today was sort of guy . Meh . Its actually today was actually impressive from the markets. Again, given the fact that the s p rallied back, closed unchanged. You have to give it credit. To answer your questions, i think rates can continue to
Optionality. It is hard to see with the positive category is for markets today. This is bloomberg surveillance. Manus live from new york city this morning, for our audience worldwide, this is bloomberg surveillance alongside tom keene and lisa abramowicz, im jonathan ferro. Builds up, stocks down in the fx market. Tk, eurodollar, 105. Tom you go wow when you see a number move. I did a hat trick. It is wow wednesday across assets. Where do i begin . I begin with the real yield and the effect on the fx market. I never thought i would see this this quickly. Lisa are people getting a little over there skis here . There was two outcomes. Where was the base case of a consumer that was running out of money and potential for a recession . It seems to be off the table and some of the expectations even as we see signs of true weakness. Jonathan melted in terms of the objective of what this Federal Reserve is. I think we are at that point where we are starting to fully internalize this high for l