Makes him so bullish. This name just delivered a strong quarter, strong guidance, the stock is up 3 , but its a crowded space. The closest competitor just entered the public market. The ceo is not worried, not pulling any punches, either. Hell join us live ahead. We begin with the markets with dom chu. Its red and getting worse. Were just near session lows right now, and the dow industrials, that means a 414 point decline, 1 to the downside. 37,971. The broader based s p 500, 5,065 the last trade there, down about 1 , as well. And to give you perspective, at the highs, were down 353 53 poi at the low. The nasdaq, down about a percent or so, 15,798. Big technology trade, amazon is going to be the big focus because the earnings report. Were putting a big circle around that 1 decline around amazon shares. But broadly speaking, big technology, microsoft down 1. 75 . Apple, the standout to the upside, its up 0. 1 . Nvidia down 1 . Alphabet down 1 , as well. So that Mega Cap Technology trade
Trading days of what is shaping to be a weak month in quarter. High pressure this morning after it offered weaker than expected. Sanjay mehrotra will join us later this hour. And a Company Named ryan cohen as ceo. Lets begin with the markets. We mentioned what the yields were doing today. Jim, 50 basis points. I said that we would have the d inversion and that you couldnt really be excited about the stock market until the 20year, which is at 4. 1. It is now at 4. 98. Crosses over the feds fund rate. That would be where you can finally say this market is getting interesting. It is oversold. But we cant seem to find any supply of oil near 100. 100 is supposed to bring out some supply and in the oil companies. But i dont want to give up here because this run has been so bad and it needs to consolidate. Heres what i will come up with. We will have a test, i believe. I actually know the time, 1 43, 1 42. Thats when we bottomed yesterday. Actual time of day. That was yesterday, youre saying.
By 17 state attorneys general to stop rivals and sellers from lowering prices, degrade quality for shoppers, overcharge sellers, and stifle innovation the suit represents one of the biden administrations most sweeping and aggressive moves to break up what it sees as consolidated power in the hands of the tech giants the administration hopes this will both lower prices new competition and spark new innovations that will help the economy. The ftc says amazons alleged schemes impact hundreds of billions in retail sales every year ftc chair lee. Lee it occurs in two markets the online superstar market that serves shoppers and the market for online Marketplace Services that are purchased by sellers. The alleged tactics include antidiscounting measures and conditioning sellers ability to obtain prime eligibility on using amazons costly fulfillment service. The ftc says it is seeking a permanent injunction in federal court that would prohibit amazon from engaging in that conduct, scott. Over
Low. And its projected as the population continues to age in the baby boomers retire that that ratio will continue to rise in an unsustainable fashion. So, the addition to the debt taking what is already a significant problem and making it worse is it is of concern to me, and i think it does suggest that in some future downturn, which could occur just for whatever reason, the amount of fiscal space that would exist for fiscal policy to play an active role it will be limited, it may well be limited. Sam fleming with the financial times. Couple of longer term questions, first of all, midway through the year, hot weather inflation targets might need to be raised. Obviously been a lot more debate and have had systems since then about this it may not be an imminent issue, it may be something the feds may be discussing over the coming years. Some sort of change to the inflation target second of all, the amount of stimulus tools that the fed may have at its expo sal are fairly limited. One of
Are needed. Its 2 15. Good afternoon and welcome. Im david wessell, director of the brookings. Thank you for coming and people joining us online. I bring greetings from glen hutchens, the benefactor of the hutchens center, whose chartered plane was canceled so he cant be here today. Hes probably watchology his phone and will undoubtedly be weighing in on everything i did wrong in the first opening segment. When we think that question of rethinking the 2 inflation target is one of the most important questions facing Monetary Policymakers at the moment, you might say that the backwardslooking question we need to think about, which we at hutch. Scenter are thinking about, is how did unconventional policy really work . And should unconventional policy really be considered conventional policy . But we look forward, i think one of the youd have to argue one of the biggest questions now is whether, given everything we know, whether a 2 inflation target framework is the right one for Monetary