The headlines driving the moves and the impact on all the miners im melissa lee, coming to you live from studio b at the nasdaq stocks ended the day in the red, but making a big comeback from their worst levels of the day. The dow down 700 points at the lows, ending the day off less than 400 the nasdaq down my that are 2. 3 at its lows, closing down just over half a percent. The losses coming after a softer than expected gdp report, but already, its looking like we are in for a big reversal tomorrow shares of microsoft and alphabet soaring. Go googles parent adding more than 300 billion in market cap after announcing its first ever dividend and a 70 billion stock buyback lets get more on the numbers with deirdre bosa. Hey, mel. The call is still under way. The q a should be beginning soon no surprise, the ceo spent a lot of time talking about his a. I. Strategy i want to highlight how the company says its navigating generative a. I. In search ads, its cash cow he says hes encouraged by
You for gathering here today. Brothers and sisters, standing with these phenomenal leaders beside me that represent over 300 men and women from every background and walk of life, i get a little emotional. The members of north americas building trade unions, the men and women we are also proud to represent, you are the foundations of the future. Today we get to share a story of progress, collaboration and hope. Our journey fueled by dedication and resilience has led us to remarkable opportunities that are paving the way for a Brighter Future for all. The Biden Administration has proven to be an ally in our pursuit of progress. President joe biden in every facet of his ministrations is crafting pathways to build americas foundations for the future. The a compass men see has delivered the working the accomplishments he has delivered the working people of america and for the future of our democracy cannot be understated. After 40 years of tireless fights he went above and beyond. He delive
Crew touching 95 a barrel. 4. 6427 is the new cycle high. Tom this thursday is more tumultuous than monday through wednesday. An equity pop at the back end and we are short covered. And the optimist will be here with us in a little bit. You have to reset and recalibrate. There was a moment yesterday and let me get out the surveillance mouse and tell you that we had a 2. 30 10 year real yields. I did not frame that six months ago. Jonathan the equity market is kind of a snooze. Bond market huge moves. Fx one point four briefly against the dollar. The dollaryen getting closer to 150. Lisa that is exactly the right observation. Why are stocks so subtle and why are they not responding to the markets. Is there just simply a paralysis, or this is forced selling for funds that do not have a big position. At this point are we looking at some unraveling that is gaining steam that nobody wants to get in the way of. Tom i am going to when mike mckeen gives us the gdp blah blah blah, but there is
Yield stays flat. Midday movers on the equity side, boeing shares are lower even as they burn through less cash than predicted for the first quarter. The plane maker is slowing output to get a handle on manufacturing issues. More on that later in this hour. Tesla, really rebounding after elon musk vowed to launch less expensive vehicles as soon as this year, using concerns following a disappointing quarter with its biggest negative cash flow ever, tesla shares up 10 on the day. Abigail doolittle is here with more on those results and what to expect. Abigail tesla, rallying in a massive way. Up 10 . It has to do with not just of the quarter was really negative, as you mentioned. Take a look at the chart. Since last july it has been a trip downtrend. Up 40 on the year. Investors expecting the worst. From earnings they expected sales of 29 billion dollars, with adjusted profits it was down 53 on a yearoveryear basis. Speaking of, at this point the stock is about flat yearoveryear, down 1.
Reduce what it does through bankruptcy. Greece has declared a national day of mourning after floods killed at least 15 people on wednesday. The flooding came after a severe overnight storm brought driving rain to the greek capital. Roads turned into money rivers muddy rivers that carried away vehicles and tossed them into piles on roadsides. More torrential rain is expected tomorrow. Global news, 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. Im alisa parenti. This is bloomberg. Bloomberg technology is next. Emily im emily chang, and this is bloomberg technology. Stocks slide, equity falls. Tech stocks at record levels. Is there a massive pullback to come . Can blackberry make a comeback with software . We will hear from the ceo in an exclusive interview. Tencents blowout quarter. Sales jump more than 60 in the last quarter. We will discuss the companys secret to continued success in asia and its u. S. Ambitions. First, to our lead. Cauti