The worlds biggest Investment Banks, what Goldman Sachs has in stores for some of its top partners it is thursday, august 5th and Worldwide Exchange begins right now. Lets go lets go all right, good morning, good afternoon, good evening, welcome. Im Brian Sullivan thank you for joining us on Worldwide Exchange. Here is the stock of the day the ticker may say work. But something isnt working at least for investors right now. Online messaging firm slack shares, theyre down 12 right now in the after hours market. First Quarterly Report as a Public Company disappoints well dig more into these numbers in a moment. First, to the overall markets, where stock futures are going the opposite way, rising, dow futures up a nice 238 now. This is a report says the u. S. And china are set to resume face to face high level trade negotiations next month with preliminary talks happening as soon as next week. As stock futures go up, bonds go down, a little bit benchmark ten year note yield 1. 51 . We are
Alix steel. Guy 45176, on the stoxx 600, how much lower do we go . We talk technicals later on with abigail doolittle. This is the story of the day in europe. The Dutch Fintech company, the payments company, uber is one of its clients and spotify is one of its clients. It is getting crushed today. 18 plus billion euros with the value wiped off, the share price on your bloomberg terminal, you can see it had a meteor cries which is very much now come undone. Is this what happens when a test tech stock misses expectations. As this happens when the front comes out of it because it is bruising to say the least. At stock as i say down by nearly 40 today. The miners are up today, prices have come undone, we have been watching what is happening with the china story, we continue to watch that carefully. Are we gearing up to people talking about potential for stimulus. It might have some competition for tax assets. Keep an eye on that story. It is never really quite work, where we go with that w
Market site. Our guest trader for the hour, lori cave cena welcome. We start off with that muted reaction to the markets Inflation Report this mornings Inflation Report. The market rising as much as 455 points early in the session, but losing steam throughout the day, closing up just 50 points. The s p and nasdaq following similar trajectories the benchmark up just a point. The reversals coming despite the fact that Consumer Prices rose less than expected in july, 3. 2 , versus 3. 3 estimate the drop in gas prices outweighed by a rise in the cost of food and shelter, so, todays action suggest a shift in the markets focus, guy . Its interesting. The s p closes flat, i get it, and lori has thoughts on this, and i mentioned it here, but what i took away, the move in the bond market was, again, extraordinary, in a word yields open on the lows. Spent the rest of the day rallying to basically the highs. I dont think thats good. Bill ackman ringing the bell in terms of his bond call, that top
Same for the 30 year yield. Youre watching it cool a bit about six basis points but we are still more than 20 basis points up on the week, a stunning move at the long end of the curve. I want to look at earnings because i want to take a look at apple. Taking a beating in the market with more than a 3 decline, the worst drop we have seen since january. I want to talk about amazon because that is such a positive story with not only revenue increase, a slowdown in spending for the ecommerce giant, pushing the shares of more than 10 , the biggest jump we have seen since november of last year. Coinbase almost flat on the day. Lay down. 2 it is only down. 2 . You do have coinbase with us says, just underwear wall street had expected and uncertainty about the stock after a rally this year. Icahn enterprises has been a big story on wall street. Down the most it has been in history after slashing the dividend by havlf. A helpful breakdown of the micro stories on the macro day when it is in nort
Buying there. Nasdaq 100 highest since june. Those are some of the Tech Companies im keeping my eyes on. We are looking at a pretty broadbased rally. You can see nine out of the 11 sectors are green, showing a broadbased rally. I want to look at some of the tech stocks and some of the big companies. Not a lot of news behind that. A note this morning from experts saying President Trump after his turning at night was new leaf, showing the can listen to leaders and perhaps getting some criticism, showing he could really listen in terms of when it comes to routes on the ground. Also feeling that as we round out the other asset classes, we are going to look at the dollar index because we are waiting jackson hole tomorrow, a speech from mario draghi and janet yellen. That risk on yield pushing the dollar up higher, about. 3 . Maybe we can look at tax reform now. Finally, we are looking at the 10 year yield. The Central Bank Governors that will be speaking, we have been hovering around that 2