Annmarie hordern. Live from new york city and good morning. For audience worldwide this is bloomberg surveillance. En jonathan ferro, your equity market for the s p 500 negative by 0. 2 taking off q2 hitting a bump in the road when it comes to manufacturing. Manufacturing data entering expansion for the First Time Since september of 2022. Prices paid a little bit firmer. Setting off right across the curve. Lisa the idea they came in at the hottest level since 2022. People are wondering is this a commodities led blip that is temporary or transitory or is this something deeper that has to do with the ends of goods disinflation. Jonathan the commodities board, wti through 85 a barrel. Brent getting closer and closer. We are talking about the highest level since october. Throwing gold alltime highs on gold again. What is happening on the board right now. Annmarie obviously you will see a risk premium because of what happened yesterday which is an israeli strike on a key individual in the I
Partners, they are impatient about getting some of their capital back from the general partners . Are there vehicles to get around that that you might be involved in . Paul there definitely are vehicles. Lets unpack what the problem is. If you have private equity firms who have bought assets in katie i m Katie Greifeld and the low Interest Rate environment and now rates are at meaningfully higher, there is a reluctance to sell those assets welcome to bloomberg markets. In a period where they a lot of good news on the screen underwrote it at one multiple behind me. And now they are looking at selling it in a different multiple. S p 500 on an alltime high of one of the great things about about. 4 . Private equity firms if they are the same story if you look at exquisite in controlling the exits. Big tech higher to the tune of what were seeing is what they sense as rates have crested, about point 4 . They have yet to come down. It will not be until rates start you can see the 10year gilts
Election integrity and all of this is completely aboveboard because he was the president and that is what president s do. That is the argument he made today in a new filing filed in state court asking a judge to dismiss the Indictment Charging Trump with election interference. In the new filing, trumps lawyers quote they can argue to ensure the integrity and the election were outside of the scope of his duties. They even went on to say quote, the president s motivations are not for the prosecution or this court to decide. Fact check. Trumps motivations i exactly what this court should be looking into. The lawyers also claimed quote the president s actions are within the ambit of his office. Is absolutely immune from prosecution. They are essentially arguing that donald trump is above the law and if that sounds familiar to you, it should. It is what Richard Nixon asserted after watergate. That means it is not illegal, by definition, exactly. I have expert guests tonight to weigh in on t
Ahead of the open. Cloud sales growth accelerates the company also aims for spending more on a. I shares of starbucks under pressure theyre down after a decline in samestore sales it also slashed its forecast were going to be joined exclusive by starbucks ceo just a few minutes from now lets begin this new month for markets after ending a rough april with that selloff. Worst day since january 31st worst month since september 23. Some of it was because theres a belief that really, this happened in the last few hours yesterday that if the fed chief is asked the question, do you think that the next move should be increasing rates or decreasing rates, it puts him in a horrible bind . H what is he going to say . This was literally the narrative i heard yesterday as Interest Rates ticked up. You know that people are going to try to trap the chairman, but hes not easily trapped. No, hes not. Although youre not necessarily in favor of the press conferences, as i recall no, because these people
Thank you, charles. Charles you got it. Liz well, this is the kind of recognition the nasdaq can does not want, folks, there is a reason the that nasdaq is by far taking the biggest punch. The chip stocks have taken a to to if announce ifed leg down led by nvidia. I cant remember seeing nvidia fall more than 8, but that is exactly whats happening. Now it is down9 9. 33 . Low oaf the session here falling about 79 to 767 a shear. Share. You can look right now because as a it falls through the 50day moving average which is considered a sell signal, a lot of the other chip names are following it down the rabbit hole including amd which is down 6 followed by micron. Youve got, you know, im looking at micron now down about 5 . In fact, most of the chip makers are tanking on investor fears that a perhaps interest with rates are will remain high which means cost of borrowing to grow might be a lot higher for longer. Weve got the socks index which is this basket of chipmakers down a full 4 . Ju