Picture. Goldmansachs expects the fed to begin easing in q2 of next year. Also ahead, were going to talk about what is next for the tech sector. This is in the midst of whats been a rough august at least so far. Were down 7 month to date. And letter x Surging Company rejects an unsolicited takeover offer from its rival, cleveland cliff. Lets get some other news, though, as well, as we start the show paypal has a new ceo whoa. Yeah. Alex, who currently runs the Small Business and selfemployed group for intuit, is going to take over from paypals longtime ceo dan shulman on september 27th according to members of the board a little earlier than expected they conducted the search for paypals new ceo shulman will remain a paypal director until next may. Chriss being hired was a result of the process where the board interviewed nine ceos. They reduced that pool to four candidates and then they chose mr. Chriss members of the Board Selection Committee tell me he impressed them with leading a d
Disney also in focus this ahead, of course, that will be an after the bell Earnings Report but the companys espn unit striking that deal with ten entertainment. We will keep an eye on eli lillys record run sparked by not just its diabetes drug but also that very encouraging study in terms of the broader impact of those weight loss reduction drugs. Also an upgrade this morning jeffries. Thank you start with disney and that espn Sports Betting deal sounds like this morning that you wonder why markets not making a bigger deal of it on the disney side. Yeah, because i think one aft things theres 55 Million People who play fantasy. What people usually do is they have their lineup, they put their team on the espn site, but then they go to draftkings to play daily fantasy and daily fantasy is huge in this country now, i think Jason Roberts has done a fantastic job at draftkings, and disney had a stake, but now i think youll stay on the disney espn site to do your gambling and that is very pow
Right now, there is nothing that is earthmoving. That is a great way to lead off the show. I have unbelievable stuff. Okay. Lets get to our road map this morning. It does start with apples ev aboutface, reportedly abandoning its decadeslong efforts to develop an automobile, turning its focus to generative a. I. Shares have underperformed so far this year. Continued signs of a robust economy, healthy Consumer Spending certainly one reason why and goldmans ceo thinks a soft landing is uncertain. And the doj turning its focus to Health Insurance. It is launching an antitrust investigation of the giant. Unh. Unh is really under siege. Its a Great American company. Its under siege like almost no other between the hack and the Justice Department. Well talk about that. That said, its doing pretty well for a company under siege. Lets talk about another company thats done pretty darn well for a very long period of time. That is apple. Of course, youve seen these published reports. Any number of
Citing high valuation and concerns of soft u. S. Growth. And its the Largest Health care strike in u. S. History. Some 75,000 Union Members at Kaiser Permanente walk out of hospitals and medical offices. Lets begin with the markets. Dow coming off the worst day since march as you may know by now, losing its gains for the year to date. Jim, this morning, writing a lot about the tyranny of the tenyear, as you put it. Look, i think theres a consensus building that you cant have the yield curve be the shape that its in now, and i know this probably bores a lot of people, but if youre just trying to figure out, what the heck is this all about, theres a sense if you go out ten years, we got to go the usual, which is that theres a steepening curve and were all going to have to pay a little more if we go out long. Meaning, lets say you need a mortgage, thats going to go higher. We got a number that was softer today from adp and shows theres not as much wage growth, which is what people are wor
Sinking again. And we continue the week long special with the best ideas heading into q4. It is tuesday, september 26th, 2023 you are watching Worldwide Exchange right here on cnbc good morning welcome to Worldwide Exchange. Im frank holland. We kickoff the day with the check of the futures the first winning session in five a clear change of direction here in the futures the dow set to open 125 points lower. The s p and nasdaq both down about. 50 in the premarket we are checking the bond market with the 10year treasury at the highest level since october of 2007 look right now at 4. 52 also the 2year treasury is 5. 12 you see it is elevated we are looking at the energy markets. Oil is giving back a bit look right now at wti crude below 90 a barrel down 1 this morning brent crude at 92. 28. Similar for the Natural Gas Market down 1 this as the dollar adds to impressive gains up 2. 7 this quarter alone and on pace for the best quarter since q3 of 2022 you can see the dollar up fractionall