Now. As that that starts its twoday fomc meeting for this month. Were are fears of brexit as head towards june 23 and the referendum in the u. K. U. K. Ferendum in ,he s p is still not that bad youre today or from the yearly lows. Or from theate yearly lows. Still up about 13 or so. Even with this slide down, we are doing well year to date. Lets take a look at the imap function. The 10 sectors in the s p, we have a fairly big lean towards the negative territory. Financials down the most by about 1. 5 . Material is down 1. 4 . Telecoms up. 2 . We did hear about the fcc and that neutrality rules. Net neutrality rules. Ricin and at t getting a pop because of stability moving ahead. Getting a and at t pop because of stability moving ahead. The fed meeting today and tomorrow come Interest Rates on the minds of many. Take a look at where we are with yields across the world. The german tenure is down three basis points. 10 year is down three basis points. Swiss as well. The 10 year yield is d
Near the all time high as the start of earnings season i can cans off. Alcoa tonight. Twitter will live stream the republican and Democratic National conventions. This on the day that the stock gets a downgrade from sun trust. You will look here at a live shot of the microsoft worldwide partner conference where they Just Announced a partnership with general electric. Well talk to Satya Nadella and jeff immelt later on. After fridays job report rally the s p beginning the week within a point of the alltime closing high five points from the intraday high. We head into the unofficial start of earnings season. Alcoa set to report. What a day to come back. Tgs rejuvenating. Take a week off. Im thrilled for the opportunity. Thank you, cnbc. Italy, amazing. You have a full week off. Okay. It was hard. You know. Without you. It was hard. Dont do it again. It was frustrating not to check in. Didnt check in. I will say this. Fridays rally, felt like what the market used to be like when we made n
Mike is here to talk about what this means. Mike, what comes next . 14 months without a new high. Whats going on now is of course you had yields globally suppressed and that helped the sectors support the market we talked about over the past few months. Now the question is what happens now. We have the earnings recession in the process of ending so you have the more cyclical sectors and the question is do we rotate or have a broader move higher . Last year the doubts were over it and it wasnt a broad based rally. How different is that this time around . Almost entirely different in the sense that last year it was the sexiest Growth Stocks taking over the world that were leading us there and now its the most boring stuff and its basically just these and to me the question is whether the stuff in the middle the industrial stocks, the consumer disgres nary stocks that have had their kind of quite bear markets can come back on the back of a rebound in earnings. Although the biggest winners
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