Tk, welcome back. Tom it is good to be here. It is jobs day. Im ready to go. I had my wheaties. Jonathan is that a serial . Tom it is a cereal. Lisa had fruit loops. Lisa lucky charms. Jonathan they should come with a health warning. Lets talk about amazon and apple. Apple meeting expectations after the close. Amazon is higher by 9 in the premarket, beating a raise from amazon. Evercore taking the price target from 150 to 190. Tom amazon with the pandemic and secondguessing about there is a national crisis, we delivered the boxes, we need to died in and to what we need to do. They did. Baeza went to run the Washington Post and the new guy came in. The new guy is the first real glimpse of postcovid amazon. Jonathan evercore calling this quarter and unlock for the stock. As of the stock needed it given the doubledigit gains we have had so far. Lisa that is the reason why it is bolstering the Overall Index returns even though apple is more soggy and losing is 3 trillion moniker im looking
Investors a bit unnerved in the last our or so. The index supported by netflix and teslas post earnings drop is weighing heavily on the s p 500. Talk of the tape, should investors take heart in powells waitandsee approach and the encouraging earnings outlook, or is there a flashing light for risk . Lets ask chief Investment Officer at i capital. Plenty going on. As we just kind of ran through, the bond market is still fixated on, perhaps, the supply of treasurys at the long end, perhaps the lack of buyers that have shown up so far and its gotten people skittish. Is that really whats driving things right here . Can we get some clearance from the bond market to refocus on earnings any time soon . Unfortunately, not yet, or at least not today. And if you think about whats driving these yields, its at least three or four different factors. First of all, youve got growth that remains resilient and that pushes up the long end of the curve. Youve got inflation, oil thats a little more resilie
Advertising deal with openai, and as dom said, gameshop shares tumble. Take two cuts its forecast in what it calls challenging times. Lets begin with markets a day after the dow hit 40k for the First Time Ever on pace for its fifth week of gains. What did you make of all the fuss yesterday . I thought this was one of the broader attempts at a major milestone. And what led it was just incredible. I mean, youre dealing with a level of broad that what let me tell you, the most important thing was rates had only something to do with one stock out of ten. You could pin on rates. I think thats very important. I do believe most of these companies are just run by ceos that dont get enough credit. Its amazing to me that we simply are always willing to consign, i think thats because of the nonsense risk on, risk off, thats just something that came up to confuse the viewers. Im not crazy about it. I think whats happened here is when you get a guy like solomon, and he realizes, you know, goldman i
Poised potentially for of for the week of losses. In the bond market, the epicenter of the headlines. 170 is the estimate on wall street. Tom we will conflate a lot of economic talk. My major message is that the market still matter. It will be fascinating to see the reaction to the jobs report. Is a good news or bad news later this morning . Tom you know how much i hate that. I get confused by it. Employment is a big deal. 170 is a generous number and the Unemployment Rate matters. Jonathan lisa, adp was bad news. Lisa if you look at the revisions they have revised upwards. Their expectation is that the whisper number is 170,000. At what point is not good news but not too bad that means economic armageddon. They are waiting for something to break the cycle. Even though we have some common markets but they are still at 4. 7 . Jonathan there is a question in a program that was what is nobody asking you about . 2024. How bizarre is that . Its weird that we just need to get through the Fou
Surveillance, on tv and radio, alongside tom keene, and lisa abramowicz. I am jonathan ferro. The equity market on the s p up by 0. 5 . I think we can call this a month to forget. Tom in and a quarter to forget as well. The same tensions we have seen off the week. I will go back to something we said months and months ago. The acclaimed black swan quantitative finance expert, taleb, said the gravity has returned to the market. It was a great september. Jonathan it could stronger in the market. What a range we have seen. The high yesterday 4. 6 861 on the 10year yield. This morning, 4. 54. I am not sure what that is based on. Lisa a maybe we got softer than expected inflation out of europe and very little in japan that did little for the market. I am curious how much we are looking at out of the market. Suddenly bond markets are what issuing showing the volatility normally associated with different asset classes. Tom i dont know what we had in the hd block. I am certain in the first bloc