we start in the uk where already this week deals have been done to increase pay for workers at british airways, aldi and uber. aldi is raising the pay of thousands of distribution centre staff by 9% as competition for workers climbs post pandemic with more and more of us ordering our groceries online. british airways check in staff have agreed to a pay settlement that their union says amounts to a 13% pay rise, and uber agreed to raise fares in the uk to boost earnings for its drivers. the rising cost of living and forecasts for soaring winter energy bills, along with a severe labour shortage in some industries is a recipe for higher pay, something the bank of england warned against as it could hamper its fight against inflation. the latest unemployment figures for the uk are out in a few hours time. kate shoesmith is deputy chief executive of the recruitment and employment confederation. good morning. the employment numbers coming out forward june, what will they tell us? w
Halftime trade alert from bill baruch he does join us because he has bought crowdstrike why did you do that . Good to have you on. Tell us about this trade and why you decided now is the right time thanks for having me on we know crowdstrike had a big reaction after the Earnings Report earlier this year, and then it sold off pretty well we stayed away from traditional Cyber Security over the last year, and really missed a name like this in the bull market in 2023 not saying we have quite a bit of exposure in names like nvidia and others, but one of the reasons why i stayed away from traditional Cyber Security was a fear that the hyper scalers were going to roll out a really Competitive Edge in the securities space and useers that were already on their platforms would begin adopting such. Anecdotally, i had a conversation with dan ives earlier this year in february and addsked him how he feels abu it theres nobody better to ask his response to me was, ive been getting that question ever
Live from new york city this morning, good morning, good morning. Leaving behind a very messy month of april and kicking off may with the futures 0. 5 on the s p 500. Southside note to south side note, saying the same thing, its a hawkish chair powell. Hawkish relative to what, the last time that they met or what the market is priced for . Lisa its a reason that some people are saying sell the rumor, buy the news. Expecting bonds to sell off, they will be disappointed. Chair powell, basically hawkish means his coming out and saying we are not sure, we havent made us much progress, we are still monitoring it and will not say anything about something that rhymes with wike. Jonathan wike . Just say hike. Lisa he doesnt want to say the h word. [laughter] jonathan 5. 03 on the twoyear this morning. Alan ruskin at Deutsche Bank thinks this is the stat of the day, the 2year note has rallied on all of the last four fomc days, eight of the last 10 days of meetings since february, 2000 23. Chair
Lore, then paring back some of those losses. Lets check the a markets, right now the down is down 84 points. The s p 500 down 10, the nasdaq has been fickle as a well today, flitting back and forth over the unchanged line. Right now though down 33 points. Those are off session lows. Were going to be focus on that all day. The techheavy composite, the nasdaq, has been buoyed by tesla. Top of the index right now with an 11 gain. Tesla are reported earnings, miss on eps and revenue expectations. Theyre trying to navigate slumping sales, falling demand for evs and, of course, competition from china, but promised investors it would speed up the development of new, more affordable vehicles. Of course, looks like very happy to hear that. Investors and analysts also flagging one quote from elon musk that claims tesla, its not really an ev maker after all. I think cathie wood said it best, really we should be taught of as an a. I. Robotics company. If you value tesla as an automobile company, y
Were going to begin with this years biggest ipo, arm pricing its offer at 51. Thats the high end of the projected range and valuing the softbankowned chip designer at 54. 5 billion, fully diluted. Arm, whose customers include apple and nvidia, looking to ride this a. I. Wave, listing on the nasdaq today under arm, and david has this exclusive with renee haas and masa son. My understanding is that they could have gone 52. Thats what i have been told by any number of people, but masa said, lets do 51 with the prospect that that will position it better for some sort of positive open, and thats important here, given the importance of arm to the overall ipo market given the size of the offering, the focus on it, and the fact that we are expecting more to follow. If it doesnt perform well, that might leave not a particularly good taste in investors mouths. The hedge funds been pared back, long only. Sovereign funds and stepped up and converted from what was interest to actual buying power. W