Reportedly uncovering Quality Control concerns at eli lilly plant set to manufacture its covid antibody treatment and apple debuts the new 5g phone line speedier devices, also coming with an even heftier price tag carl, back over to you. All right jim, on the banks this morning, conversation once again about loss provisions. Also about bond trading at goldman. I dont think it is just bond trading. I think goldman did a remarkable job taking some share, which i say remarkable because imagine youre at home, zooming and taking sharefrom others. I do believe that goldmans back to its old ways which is that it is a dry cleaner it doesnt have any risk remember, dry cleaner, what do we do with the dry cleaner give them our clothes and pick them up and they make money. That has been the goldman way until a couple of years where i think it got wayward where it became much more about, hey, lets invest in this, invest in that, no, to me, what theyre investing in, that i really like, theyre invest
Fresh data from ice on home prices and supply and how were setting up for the important spring selling and buying season and thats coming up, but first, lets get a check on the markets overall which are relatively mixed and were flat for most of the major indices and the dow is up 0. 1 near session highs and we were down much earlier in the day and the s p 500 just about flat on the session and the last trade, and the nasdaq composite 16,250 thereabouts off 0. 2 . Meanwhile, check out whats happening trendwise for many of the Regional Bank out there and basically green across the screen as people are starting to see some signs of value out there and perhaps getting a mean reversion trade and Short Covering and people taking out some of those bets on the down side and taking profits there. On the Regional Banking side, you can see the etf is doing relatively well and Zions Bancorp will be taking on the s p 500 this month and the up oncommunity bancorp is up three bucks a share on the bi
And a. I. Strategy. Ceo andy jassy saying surprise from the generative a. I. Business. Inflation seems to be cooling. The pace of inflation came in a 3. 7 for the month of september. Were keeping an eye on the auto industry, mean white the uaw reportedly delivering a new offer to gm. Amazon is up nicely after reporting quarterly results. Ceo andy jassy saying hes been surprised by the companys growth in a. I. You look at the very substantial, gigantic, new generative a. I. Opportunity, which i believe will be tens of billions of revenue for aws in the next several years, i think we have a unique and brought approach thats really resonating with customers. You can see it, you know, with the customers i mentioned that are using us, starting with the workloads for generative a. I i can see it also, the growth rate for us is very fast of course, if they can get ahold of the chips they need, give me your take on the quarter. Okay. So you go through what went wrong with alphabet which was di
I am anna edwards. Lets start with breaking news. Of howe pmi, the gauge the economies across the eurozone are doing right now, these are the preliminary numbers for august. We were expecting on manufacturing a number of 51. 3. It has come in at 50. 8. The service number, that has come in just a shade below estimates at 53. 5. The composite number, we were expecting 53. 4. That has come in at 52. 8. That is a little bit below estimates. Slightly below estimates all in all. Clearly the miss against expectations lies somewhere outside of germany. Lets check how that is impacting on the euro. We are not far right now. 1. 3268. You can see the oscillations in trade around that french data which was mixed to negative and that german data which was better on all counts. Details from our international correspondent, hans nichols. Storye been watching this all morning. Just to recap, that composite number on pmi for the eurozone has come in at 52. 8. Way theis is in a reverse of a story where
The dow added on 8 points while the s p lost 2. Gold edged up 8 dollars and oil ended down 65 cents. American airlines is ready to settle. Airline officials want a Bankrutpcy Court to approve its deal with regulators so it can merge with us. Airways. A Consumer Group objects over the potentially of higher air fare. The National Catheral in dc will start to charge a 10 tourist fee next year. Time now for trader talk with Glenn Schultz of performance trust. Good morning to you. Hi. How are you . With so much emphasis on the nasdaq potentially closing above 4,000 whats the bond Market Reaction . The bond markets reaction actually has been positive. So were seeing positive correlation between bonds and stocks. That positive correlation is largely being driven by the Federal Reserves quantitative easing program. So we saw the 2 year note yesterday. It went off very favorably. That shows that investors are beginning to believe the Federal Reserves statements with respect to holding long term