Economists were expecting 2. 5 . Recent gdp was also lowered. You can see red across the board with the s p followin falling. The nasdaq down. 8 . Not only the gdp reports weighing on stocks, but you have social media dragging the market with twitter yesterday and facebook today. Olivia nobody likes how much money Mark Zuckerberg is spending. Matt his employees like it. Olivia probably. Heres whats happening on the treasury market. The short end off the yield on the 2year note up i two basis points. Note, little bit of money flowing into that, so yields coming down. Stronger off the back of 2. 3 growth in the Second Quarter. The dollar Index Trading around a fourmonth high. Top stories crossing the bloomberg terminal at this hour the u. S. Economy picking up pace in the Second Quarter, gdp , slightly less than what economists were looking for. The Commerce Department revised the firstquarter figure upward. Grew by out the economy. 6 in the first three months of the year, but it cannot
Economic earnings sent the indexes lower, facebook dropping 4 after it Second Quarter spending increase. Facebook really opening lower over the last two days. Whole foods is another loser after reducing its sales forecast. Lets move on to commodities. Nymex crude and brent moving a little higher. Brent a little bit more. They are still down again for as we have seen increased volume. Pimm look at this chart this is the biggest monthly chart. That is amazing. It is ugly and has changed a lot since the feds lastting for top meeting. The 2year note reaching the highest in six weeks on that gdp report. That raises the probability of a hike in september. The gap between the 30 year yield narrowing. Finally, lets take a look at the currency market. The dollar strengthening against the euro. Taking a look at the yen the dollar strengthening their. Matrix the currency which i use on a regular basis. Is colorful and easy for me to read with my poor eyes right. But there, you get to see whats go
So different from the pattern ago. It says aggressive discounts won over cust mers reporting a but so engrained in the company and has been very involved with quarterly loss and the stock moving on all of these numbers. The marketing part of the turnaround. Fourth quarter in a row of seven in other words the positioning. Hes kind of an old hand, a figure gains which is mind young guy. I know they were talking earlier blowing. You got to read the release. On squawk theres never been a called the uncarrier and talking about average revenue was not procession where there was a great ceo and followed by a down, it was people looking for 49. 8. Great ceo at ford. 50 million customers they have i like fields. Well talk to bill ford at and added more new customers than the rest of the industry 11, hear from mulally at 11 30, combined. Its amazing. There was an expectation when phil lebeau is on assignment in West Hartford tweeting not just massa son from soft bank took over they would be the