From Stewart Frankel welcome, steve thank you are we going to end the sixday win streak here . If we did would it be a shock . And its still plenty of time for us to turn around, turn green. We bounced about 6 off the lows but we are not overbought. So to your point, i dont think that we necessarily have toned today but its a good stop to say lets take a breather, were still above all the moving averages in the overall market about 10 handles lower in the s p cash but i still think were on good footing. Is 2900 a tough footh for the s p . It is because its a big fat round number so i think the 2954, the alltime highs, thats the tough number you have to worry about, not the 2900 lets focus in on the big stories we are watching. Bob pisani has whats driving todays market which of course has been up and down ylan mui is watching a tech antitrust hearing on capitol hill and phil lebeau is covering teslas Shareholders Meeting bob, lets start with you. Lets take a look whats going on its ver
Stocks in asia in a Holding Pattern as markets look ahead to growth and inflation data due this week. U. S. And european futures pointing lower. Congressional leaders meet President Biden as efforts to avoid another Government Shutdown ramp up. Apple shares again as bloomberg reveals the tech giant is ditching efforts to build an electric car, as it pivots towards ai and mixed reality headsets. Lets check on these markets. There is a bit of a Holding Pattern. Bit of a mixed picture. You want the detail on the inflation story of the u. S. On thursday with personal consumption expenditures, the pce, the favored gauge of the fed and then gdp today out of the u. S. We will see if the revisions change the picture with 3. 3 currently on the board for the most recent quarter out of the u. S. Modest gains on wall street yesterday for the s p, ending higher 0. 2 . Still in the green for europe. We will see how that evolves today. Currently european futures pointing lower a little over 0. 1 . If
Anticipated a. I. Chipmaker earnings after the close tonight take a look at where he stands the dow jones 39 and the nasdaq down 20 points going into the earnings and s p 500 lower by seven and a half earnings and revenue expected to be up sharply at nvidia and some are betting on a poster earnings rally ill tell you about those bets this morning despite 200 gain in the stock in the last year nvidia share down one half of 1 , before we get to that we have target and tjx reporting earnings before the opening bell those pulling back take a look at yesterdays performance, the nasdaq and s p 500 in record territory at the close beginning a new day and unchartered space the dow industrial was up 66 and the nasdaq of 13 at a new high of 5321. The nasdaq 37 at a new high of 16832, european markets are pulled back s p 124 cac cron 41 and dax index lower by 47. In asian markets lower fractional moves acrosstheboard shanghai composite flat but up a tiny bit, back at home battling persistent infl
Caroline we return to our new york coverage, geopolitical concerns at play. We know how difficult the conversations will be from a diplomatic perspective. Big mega caps are on the downward trajectory as yields are pressing higher as we anticipate an auction. Many anticipating they will be pushed higher as the fed will have to push back on inflationary pressures. We are seeing downward trajectory on chinese stocks traded here in the u. S. We have seen better than anticipated macro picture coming from china questioning the veracity of the data and when we plug in terms of momentum amid the geopolitical tension and the pushback of sales into china. Bitcoin is up. 73 . Ed china is the key story particularly in the context of u. S. Technology curbs to china. I want to go to asml, a proportion of their orders are coming from china so they have had to address the latest expansion of curbs. 1015 of their shipments will be impacted by these structures. The more direct impact on nvidia dropping
Buying yields in oil are lower roadmap begins with disney better than expected with streaming numbers nearly breaking even. Shares, as you just heard, under pressure. Plus elon musk reups his ai warnings saying it will over time biological intelligence speaking of ai, ill be joined by the man sam altman calls his secret weapon at open ai as well as former treasury secretary steve mnuchin. That will be over the next couple hours carl all right lets begin with disney, guys. Lower in the premarket got the raised guidance. Narrowly overall streaming losses to about 18 million. Disney plus and hulu with a surprise profit. Box office sales did see a decline in the period, jim as julia just pointed out, although parks and experiences up ten, some moderation, and post covid travel. When you go over the arpu, the average revenue per user for streaming, its quite good india the amount of money they were making on the indian sub is quite different would i go into this train wreck and buy it here