Markets. First trading day of the Second Quarter. A pretty interesting bid in bonds this morning to talk about. Scott is wells fargo global strategist and nicholas, strategist, joins us to talk about that this morning. Tenyear down. Obviously you have the equities off their highs of the morning. Whats going on there . Tenyear is one of those k contra indicators. The 10year yield should be higher if growth will be there for the back half of the year. These 10year low yields are propping up stocks. Scott, how long does that dynamic last . Do you go along with nicks view of whats driving bonds . When you look at the fed prong projection and they tell us theyll do three hikes this year and three next year, are bond yields going to go up on that . I dont think so. I think the bond market is telling us that in a slow growth environment, you know, you raise rates six times in two years, you know, thats a headwind for economic growth. I think the consensus, our work suggests that consensus ear
Welcome to power lunch. Im melissa lee. Stocks right now are mixed actually all in the red right now. Amazon, though, hitting a new alltime high in todays session. Same for tesla, that stock trading above 300 a share for the first time ever. And take a look at gold hitting its highest level since february 27th. Tyler . Melissa, thanks very much. Im tyler mathisen. Glad you could join us on a rainy tuesday in new york. Here is what else is happening this hour. The u. S. Trade deficit falling in february as exports climbed to a twoyear high. Cleanup efforts under way from texas to the taerls after another stripping of severe storms ripped across the south. Five stormlegalitied deaths reported. And tony romo apparently hanging up his helmet and cleats for a microphone. Espn reports the cowboys quarterback will end his 14year nfl career and go into broadcasting. Michelle . Welcome to the business. Thanks, tyler. Im michelle carusocabrera. We have a lot to do today. We begin with a big head
Looking overnight in asia. The nikkei droez edclosed down. The hang seng down. The shanghai was up 0. 3 . In early european trading, the dax is down. Down by 0. 4 . Ftse is off by a half percent. If you look at the tenyear yield, continuing to watch that yield below 2. 4 . Yesterday 2. 352 . This morning it looks like the tenyear is yielding 2. 357 . Crude oil prices, which have been above 50 over the last several sessions are up once fwan th again this morning by 3 cents. Some Market Movers yesterday. A lot going on. Really demonstrating how sensitive the market is shethes days. Paul ryan suggesting tax reform could take longer than expected. The possibility of tax reform did you forget your contact lenses . No, no the possibility of tax reform has been a big issue on the table. The house Tax Oversight Committee is planning thearings in connection with the tax reform. No sound bite . No sound bite. You went right through it. Was there a sound bite . There was. Lets get the sound bite
Lunch. Happy friday. Im melissa lee. As brian mentioned markets seemed to be shrugging off the weak jobs report and Geopolitical Uncertainty out there. Three major averages Holding Steady and all three in the green. We are watching oil rise to onemonth highs. Gold fivemonth highs following the u. S. Air strikes on syria. Movers were watching, dominos is down 4 , on pace for its worst day of the year. Dpz could see below consensus sales growth. The Cloud Company upgraded to an overweight from a neutral over jpmorgan. Tyler . Thank you very much, melissa. Im tyler mathisen. Welcome. Here is what else is happening on this busy news day. Republicanled senate today confirms neil gorsuch as the next Supreme Court justice. The move restores a conservative majority on the Nations Court and fills out the bench that had been a person short since the death of antonin scalia. At least three People Killed in central stock holm when a truck crashed into a store. Ent president xi jinping walking on t
Particular vehicle will take flight. Tests expected to be anything but routine, as this feature is supposed to save future passengers on board the new shepherd, if, in fact, the vehicle fails during its climb to space. Another part of the i think were getting a 90second delay, but its another comment. Sara eisen is with me here on post 9. Its about commercial interests in space and how that coupled with technology, commerce is moving all of this into a completely new era. Right. So, blue origin is the private space Flight Company of jeff baseo bezos, which he likes to talk about and wrote about this shepherd launch in a recent blog post. Its a safety test, as you mentioned. There is no crew on board. And its a question as to whether this works, of course. You mentioned four successful suborbital test flights, this particular new shepherd. And if this one succeeds, he does say they will retire it. It will have deserved its retirement. So, apparently, after 45 seconds of flight, when its