Welcome to daybreak asia. We are coming down to ages major market opens. Haidi the top stories this hour. The market searching for motivation as a tame u. S. Inflation report the case for a fed rate skip. A weak 30 year option. Alibaba returns to Revenue Growth across all major divisions define chinas define chinas economic woes. Bloomberg learns chinas market regulators will meet developers and financiers on friday seeking solutions to a worsening property crisis. Kathleen we are waiting for the Rate Decision from the banco ce ntral peru central bank. Expected to hold again even though inflation is falling. They did holder key rate at seven and recorders percent exactly as expected. We are going to be looking for messaging because Goldman Sachs had predicted they might cut their key rate today because inflation has had a nice downward trend lately. If not today they will do it at their next meeting. That is the latest from latin america. We will be waiting for any Additional Informati
Interesting selling that well document. Im trying to figure out, guys, steph, what we learned this week, right. So the economy is humming, humming along, cooling a little bit. Jobs beat, Unemployment Rate goes up. Wage growth moderating. January jobs revised lower. The fed will cut. We learned that, too, right . Powell said as much. Yields are at a onemonth low. The ten year was falling today and the rally, as i said, up until a few minutes ago, at least alive and well. New records for the s p and the na nasdaq. Sum up this week what your big takeaway is. We are, in fact, soft landing. When you look at the jobs numbers, todays number, you have to do a threemonth moving average, scott. The revisions are crazy of what weve been seeing, but we have 265,000 jobs that were created over the last three months, 4 average Hourly Earnings, that is coming down. Even last months january report, the average Hourly Earnings on a month over month basis came down. We are making progress in terms of in
100 off by more than 1 for much of the day. Alpha apple and alphabet has been bucking the trend. Look at the semi index, getting smoked, often more than just about 3 , that is the smh, big names are facing selling pressure. Broadcom is down. Marvell is down. That is after its own earnings report. This takes us to talk of the tape, bubble trouble, whether the one soaring semis are in danger of a bigger pullback. It is good to have you back, starting to watch what is taking place in this market. Nvidia, a 100 intraday move. Almost 10 . What do you make of it . I was joking earlier, maybe somebody went to close too close to the sun. They are up 70 yearoveryear. Nvidia is up 80 year to date. I dont worry much. Core businesses were not good for marvell. I think that weighs on it. People are looking at nvidia getting awfully close to the magical fourfigure, 1000 number, maybe some profittaking. I will be honest, on a noisy day like this, i dont read too much into it. The space still has had
Market thats coming up plus earnings showing no sips of slowing down we get much more ahead on the show. And later were going to check the pulse of the consumer. We speak exclusively with the restaurant chain first watch and get his take its wednesday, august 2nd, and youre watching Worldwide Exchange right here on cnbc good morning welcome to Worldwide Exchange. Im frank holland. Lets get you ready to starture day. Were going to kick it off with a check of the u. S. Stock futures. We saw the highest close since february of 2022 as we mentioned following the downgrading by fitch, were seeing the future. The dow would open up more than 200 points lower the nasdaq and s p 1 lower, the nasdaq down more than 1. 25 . All have been losing steam throughout the morning were also checking the market on the heels of that downgrade first, s p futures, we just showed you the chart were going to move to the yields yeeds back above 10 a couple of basis points lower than yesterday as we always mentio
Elizabeth warren will be here in the next 90 minutes to weigh in on the fed, the banks, and the big debt ceiling shutdown. Before that, lets get todays markets with about an hour before that decision. Dominic chu live at the New York Stock Exchange hi. Kelly tish, tyler, i will teu its a tepid market but not unsurprising in the fact we have a major catalyst in the fed Rate Decision for the time being we are seeing general positivity it had been mixed in the session but not much up or down. Generally speaking were kind of tilting towards the highs of the session. The nasdaq up about 1 p the s p 500, 4131, up about 0. 3 the dow up 0. 1 . 33,723 the last trade. One place to keep an eye on, is whats happening with certain parts of the oil market. Demand may be an issue if theres an economic pullback if you take a look at oil prices wti crude is down about 4 on the session. 68. 63 were on a 60ish dollar handle, below 70 right now over the last year weve lost a third of its value keep an eye