TheChristine Lagarde says ecb could need fresh stimulus. Shery a quick check of the markets closing, we saw fluctuations in the session. The s p 500 moved higher in the last hour of trading or so, moving to a record high. At one point it fell to session lows after we heard from the cleveland fed president loretta mester, saying she was not ready for cuts yet, which sent markets lower, but Communications Stocks are leading the gains on the s p 500. Volumes were lower, heading into the fourth of july holiday. Wednesday is a shorter trading day as well. The nasdaq finished 0. 2 higher, and u. S. Futures are unchanged at the moment. Lets see how we are setting up for the markets in asia. Kiwi stocks are under fire this morning, and looking at a potential retreat at the start of cash trade in tokyo and sydney. The aussie dollar staying steady this morning, in the wake of the rba rate cut. The governments secondhalf Economic Forecast to consider later today, export data looking shaky and poi
Stronger u. S. Dollar. You can see that here at the bloomberg u. S. Dollar index up over 12. 75 and dime excreted gaining . 65 per barrel, currently at 84. 40. All three of these things here are bad for this thing here and that is why you see stocks dropping. Abigail doolittle is here with a look at the earnings so far and we have had and still have a ton of earnings to come. Abigail, 40 of the s p 500 reporting this week. 15. 8 trillion of market cap recorded. You did a great breakdown of the macro pressures for the s p 500, nasdaq 100. Here are the micro pressures and we have a tale of two stories in the cloud. Microsoft of 2. 7 up to. 7 on strong cloud corner, revenue over of 13 , betterthanexpected. Back in the team growth area. Their cloud is much better, up 29 and above the three preceding quarters, even though it did not top yearoveryear growth estimate. Take a look at google or alphabet, down 8. 9 , between its worst day from last year and march of 2020. That is the degree of s
Are being led by an outrageously bullish combination of stocks, that should not be going higher at the same time. Nobody wants to say it, but i dont know if i can recall a moment where we had such disparate stocks climbing together to new highs. You asked me a few weeks ago, i would have told you this combination today is not conceivable. That is what has happened. Dow getting another 350 points today, s p, record close. Nasdaq, you guessed it, record close. This actually defies the whole nature of the conventional wisdom of what can happen when we are at this part in the cycle. For the old days, crashing in 2008. We would be celebrating daily today, so now in a certain respect, they just try to ignore what is happening, so they can o back, go back to talking about how the consumer is tapped out, or something we learned about from some incredibly weak retail Sales Numbers just this morning, or how inflation is still raging, and it is frightening the budget deficit, a Consumer Price ind
This is making money. Breaking right now lots of confusion and anger in todays session. Major indices holding up despite the superhot ppi number and a big miss from home depot but wall street elites are really cursing the move in meme stocks. Not again plus this hot stocks that are benefiting from the baby boom spending. By the way that is not going to stop. You might as well ride the train. We have congressman Burgess Owens with us. He will explain what theyre trying to do to lower the cost of college. Unfortunately theyre getting a lot of opposition from a lot of folks who were the architects of this spike in the first place. My take on china, playing President Biden like a fiddle. All that and so much more on making money. Evolution, revolution, rocket to the moon politicians say more taxes. Stop everything. And the band played on. Charles everybody remembers that great line from the temptations, ball of confusion. I got to tell you, it really seems appropriate for todays session. T
As the world watches in horror most brazen attack in israels history. We brace for israel to defend herself. At last count more than 900 israelis have been killed, vast majority have been civilians. Scores others taken hostage. Talk about the geopolitical fallout. Get the fallout from israel itself. Were rate waiting to hear from israeli Prime Minister netanyahu. This will be long and difficult. There are voices warning israel to make reaction measured or calling sees fire or dont get new deeper war. I want to bring in Hudson Institute senior fellow, rebeccah heinrichs. I dont think anyone could have imagined it was possible certainly 72 hours ago. No, if you look at per population this would be the equivalent of the United States losing tens of thousands of americans. It is horrific. Hamas very intentionally sought to of course target civilians but also to film it so that gratuitous horrible pain for these families. Theyre doing it on purpose. What theyre trying to do is control the n