I say that with hesitation because you never know with these numbers anymore. Here is more. Is not highfrequency data. But they are coming in stronger than expected. 6. 2ory orders up by percent. The forecast was for 5 . Percentages dont mean a lot right now because data is always volatile. It is even more so now. We are seeing wide swings in orders for both factory goods, durable goods and nondurables. Durable goods orders, we already got a report on that. That gets revised. It is revised stronger. 7. 3 earlier. Tothe end of july, it is up 7. 6 now. These are june numbers. Orders, that is the one economists like to look at because it tells you what business orders are and what business spending is in gdp and that comes in at 3. 4 . That is up from 3. 3 . Not a lot of new information. Slightly stronger. The reopening started to bring rebound into the economy. At this point, we have no idea if that has continued. The new yorku that ism number which represents this 53. 5 four july. At le
What is interesting are the responses. Normally this data is not very exciting. In the united states, it is dictated by what they are getting at the gasoline pump. Shifted to focus on groceries and products such as hand sanitizer. Inflation expectations were dramatic in april. They are at 3. 1 in terms of the survey and 3. 2 percent last time around. The last year, that number was significantly lower. Alix 2. 6 . Lsare we going to get inflation growth in five years time . Yesterday was a brutal day. We were left scratching our heads and wondering if what we of the fairllying market. Bear market. Treasury markets, you are seeing a little shift there as well as we go more into risk. The dollar is softer. Is it over . That is the question. We will break that down over the next couple of hours. To give usr is going a real read on the u. S. Economy, moving forward. Now for your markets, we will have a technical look at how you should position after yesterdays big sell. A chief technician jo
No let up to the s p 500. After all that negative Economic Data, we have the 10 year yield back down to 65 basis points. Crude oil is trying to make a run for 20 a barrel, a whole . 14 lower their. The vix is trading just below 42. Halfway into the trading day. Lets get to Abigail Doolittle for some more detail. Abigail that was certainly a risk off picture. Thatinancial markets on dire Economic Data we have seen today. Subsector picture it gets worse. Look at the s p 500 energy index. Down 6. 3 . This antipathy in sympathy with the volatility for oil. We also have the bank index down sharply for a third day. More bad earnings from citigroup and bank of america. A global macro picture is not great. Auto down, airlines down even with a bailout. One area that is doing better is the faang index. It is doing quite well. A piece of this is tesla. Take a look at tesla over the last 19 sessions. Tesla has actually doubled. Goldman sachs has initiated on tesla with a buy rating, but it is extr
Japanese yen is a safe haven. I must say actually, the japanese yen is up than u. S. Dollar and is holding up. Oil is definitely on a buy. Wti, to give us a sense of the volume. Brent crude is saving four times its volume and w. T. I. Is trading six or seven times. The markets are definitely moving with this geopolitical news overnight. Its time for the Global Exchange from around the world. From london to istanbul to prints on, new jersey and washington. Our bloomberg voices are on the ground with this mornings top stories. We begin with tensions in the iddle east where one of irans most powerful general killed. The u. S. Active International Terrorism targeting and assassinating is extremely dangerous and a foolish escalation. The u. S. Bears responsibility for all consequences of its ogue ven chur churism. Mark, what is the reaction . Ive seen some demonstrations already in iran. Yes. There have been protests in iran which is the city where he was born. The key thing to remember abo
Lisa and in the meantime, preparing for that washington d. C. Ceremony for july 4. David and if you dont want to watch that, you can watch the boston pops. Lisa right now we have a rather muted tone in markets. Nasdaq futures indicated slightly lower. In europe, a little bit of a gain. The euro gaining over the dollar. Cave on the part of italian leaders to European Union leaders on the part of their budget. David leaders getting something done. Lisa maybe. For now. David we are joined by lananh n guyen and michael mckee. Even as we are speaking, we have European Union Leadership Meeting once again in brussels. Michael well, they are supposed to start meeting, but they may be watching our show. Lisa but slightly. [laughter] michael they are struggling to come up with a compromise. Germans and french seem to be working well with the dutch to come up with leadership for the various commissioned posts, but the italians and others in the periphery havent cooperated. They dont want to just