Were always keeping an eye on tech. For example, apple share, can they stem what has been a sevenday slide . Chip stocks, though, continue to outperform. And the other big story, that weight loss boom and novo nordisk overtakes the market. Market reaction to the jobs number, not just the headline and the unemployment at 3. 9 but revisions taking about a third away the last couple of months. I think those of us who are used to the precision of Artificial Intelligence and generative a. I. Are just in shock that there could be a number thats this far off. This is the kind of thing that jensen huang could solve with his eyes closed. Why its so important, this takes away what was the hot number that made us a great threat and took away a spring rate cut. 3. 9. We know they remind me of the dow jones average. Very interesting headline, but its not really whats at the guts of this, but in a political year, what that says is, hey, look, the economy is slowing and maybe the fed should have pres
Microsoft after the bell. First check on the markets. Dow up 300. Gains for the year pretty much flat, which is the outlier given the other indices. S p holding 4250. We have some decent guidance from old line industrials. That plus rates stabilizing adding to a pretty good picture. After five straight down days on the s p. Yields are up a little bit. Were below the 5 on 10year and guidance on Kimberly Clark and that es are companies that get hit by the strong dollar, which theyre absorbing. Lets start off with bonds. Bank of america saying the peak in rates could be around the current levels, though uncertainties remain high. Then barclays weighing in saying bonds dont look like compelling value despite the selloff. Ubs seeing better value in bonds than equities. What should we expect for rates from here . Do bonds provide better value than stocks . Joining us is td cowen president jeffrey solomon. Jeff, do you think weve seen the top in yields . I think were closer to the top than no
It did pass overwhelmingly yesterday 227203. Were expect probably a similar outcome today. Well keep our eye on everything happening in washington, d. C oh, by the way, the president is expected to speak later this afternoon. We may actually hear from him momentarily as well. Our Mission Today is dwight simple, to figure out what all of this means to your money and what may happen in the months ahead. At least one key person weighing in on that question today, council of economics chair gary cohn who said this earlier if you look and what the tax plan is going to do, i dont think thats factored in you can take an interesting basket of hightech stocks and lowtech stocks, and they are not doing what you think they are doing. You would think that the high tax stocks would be outperforming the low tax stocks its not happening, so i think theres a lot more momentum in the stock market. Doc, gary cohn said its not priced in. A lot more momentum. The question i posed yesterday, right, that to
The dow. It accounted for about 74 points of the declines of the dow that came after we heard from jeff bezos, Warren Buffett and jamie dimon that they will try to take on healthcare on their own. The reaction from healthcare was swift and serious. This morning, though, green arrows across the board. The more you talked to people yesterday who tried to understand what they were doing, i think the selloff may have been too far i spoke with ana gupte who was on with us, she had time to digest it. She said this is a buying opportunity. Anything that happens will take years. If will tait will take a lone what i did hear a lot of yesterday is other ceos looking at what theyre doing and saying we should do this, not necessarily to gang up on this. But looking to cut their own costs. The question the bigger the pool you get, the more complicated it gets. You could see the whole Business Roundtable deciding were going in together as a collective. You have younger workers this gets interesting.
Where we are volatility picked up this week couple of big down day, now a lilt bit of a snap back. What do you think about with where we are well, the snap back is not that convincing because its losing steam volatility is back for sure because when you reach these levels in the market in terms of valuation, in terms of just overall movement, youre going to see more volatility because people get r more nervous. I think were in a small consolidation period and as we get into the heart of earnings season which i think will be positive, will probably take off again. I wouldnt expect the velocity to be b the same overall, i think the bull markets in tact, but as ive said repeatedly, you have to be haunted by your eck appearance when youve seep this before and not always be be all all in looking to buy every dip i just bought alibaba. But never got hit. So just bought baba. My point joe, is the volatility good . Because its going to gi you an opportunity if it continue, to get into some nam