Decent day. The dow is on pace for its best day since april 25, being helped , plus Manufacturing Index energy and the banks. The nasdaq down nearly. 2 . Thereason it matters is on open the nasdaq had been up about. 6 . Dipping declining and down as much as. 4 at the lows. Now lower. A continuation of the tech selloff we saw in june. Still not well explained by investors. Some had been saying it could be profit taking at the end of the last quarter. The quarter is over and we are still seeing big losses, all down in a big way. You have earnings season ahead. Last week, analysts told our team nothing fundamental has changed. What does seem to be having is a sector rotation out of tech. It is important to watch whether this is a trend shift. This is the s p 500 and the nasdaq in white. Out of the election, we see a beautiful uptrend for both. On june 9, that was the last time the nasdaq hit an alltime high. The last time the s p 500 hit alltime high, june 19. The nasdaq had its first dow
Decent day. The dow is on pace for its best day since april 25, being helped , plus Manufacturing Index energy and the banks. The nasdaq down nearly. 2 . Thereason it matters is on open the nasdaq had been up about. 6 . Dipping declining and down as much as. 4 at the lows. Now lower. A continuation of the tech selloff we saw in june. Still not well explained by investors. Some had been saying it could be profit taking at the end of the last quarter. The quarter is over and we are still seeing big losses, all down in a big way. You have earnings season ahead. Last week, analysts told our team nothing fundamental has changed. What does seem to be having is a sector rotation out of tech. It is important to watch whether this is a trend shift. This is the s p 500 and the nasdaq in white. Out of the election, we see a beautiful uptrend for both. On june 9, that was the last time the nasdaq hit an alltime high. The last time the s p 500 hit alltime high, june 19. The nasdaq had its first dow
China. The private factory gauges rising for a second month to its highest reading since march. The united00 a. M. In emirates. Im yousef gamal eldin in dubai. David im david ingles in hong kong. , andyou look at markets really have a look at what we are looking at across the board, we have equities against the u. S. Dollar. Yields are backing up as well and we are getting a followthrough move. Tback to the here and now. Two pieces of data today, the services pmi out of china, the private gauge. We also had exports coming out of south korea. When you put everything together and you put that together with the move up and commodities we have seen over the last week, it tells you the underlying fundamentals have really improved, maybe going back about a month and a half. This is one the rba decision comes into play. We get the decision out of sydney in about 20 minutes or so for the we also get the mediumterm output. How do they balance an economy that is in much better shape than the las
People. He says the move will raise about 800 million a year. Global news 24 hours a day powered by more than 2700 journalists and analysts in more than 120 countries. I am alisa parenti. This is bloomberg. Emily i am emily chang and this is Bloomberg Technology. My see of the sun devils down on his quest for u. S. Consolidation. An offer for charter hanging in the balance. We will weigh all the options. The memo nobody missed from google. An engineers manifesto has gone viral. The backlash that hit resets on Silicon Valleys diversity problems. Netflix rolls the dice on its first acquisition ever. We will break down the back on the bet on superheroes. Softbank is back in the spotlight with earnings that helped softbank beat estimates. Good news for softbanks chairman and c. E. O. Masa Masayoshi Son. The billionaire is in the process of creating the 1 billion visions fund. The fund was included in the results for the first time. He says he considered various deal options. Joining us to
Markets. The market closing at another high. A move thats got everyone scratching their head. Earliee today, howard hudnick, brought up what could be the reason why. Its a riskon world. If im going to retire some day, ive got to make some money, what am i going to buy. Im going to buy stocks. And he might be on to something. In fact, take a look at this chart, courtesy of bank of america. The number of people over the age of 65 is growing. And growing fast. Thats the orange line there. Could it be that in a world with no yield, there is no alternative to stocks. Brian kelly, the biggest bear listen, thats my biggest fear. Everybodys worried about the market falling apart. My fear is we get some kind of a meltup. It looks like were starting to have that. That chart that we just showed there of people getting older, to me that ultimately is the biggest bearish case for the markets. Ultimately the people are going to retire, start drawing that income. But between here and there, maybe tha