Were reports that china wasas on to reaching at leastea a ptial deal. But late today, there were additional reports that even those expectations were being lowered by chinese officials. Investors have been getting used to such mixed messages. Clearly, any time theres even a hint of a pential truce, intentions between the worlds two largest economies, stock rise. Thats what happenedd today. The dow industrial average rose 181 points. Na gained 79. Aq26,346. The s p was up 26. Here is what ton expect whe two sides meet tomorrow. For First Time Since may, the u. S. Trade represeative and treasury secrery will receive chinas vice premiere on their home turf to contie negotiations for a 13th round as the trade waron drags reuters reporting expectations from china for a deal are low, after u. S. Banned business with eight chinese tech giants. I think they feel that im iving a tough bargain. But i have to. In earlier reports, chinese officials suggested they a open to a parti deal and are wil
Because as we kick off the final hour of trade on this mongsd the markets which had been done earlier are starting to go into the plus side here. Dow still down 25 points, s p, though, now up 8 and weve got the nasdaq punching higher by 3 points. So what may be causing this weve got to tack you straight to actually the top of the dow heat map to zero in on intel right there at the very top here. The Semiconductor Company is the leader here gaining 5 and a half on little to no news news simply is the extension of the a. I. Driven rally which looks like a gigantic pulling magnet from thats a record. To taiwan semi, that hitting a record. To and micron and broad dlption and klac, arm is not Holding Record here but other two are but this is a very big movement here on very little news speaking of records after clocking its 15th record gain of the year so far. Any gain for the s p will add another record high right . But at the moment we are up just a fraction or 8 points, earlier it touche
Yesterday the s p was up more than 1 . So, kind of putting on a brave space treating good Economic News even with the headwind of whats happening. Im watching financials which were lower and in reaction to more Bank Earnings and have turned higher. I dont know if its yields. Theres a lot in there because bank of america and Goldman Sachs were better. They were better. As i was saying, when it comes to the banks, if the economy is going to be okay, the banks should probably be okay. If your biggest concern is recession, we pushed it off a little farther. And Home Builders up 0. 50 . Energy and cyclicals. Lets take a look at the state of the consumer. I spoke with bank of America Brian moynihan, and his assessment is the fed is working. Well have 4 trillion plus of our consumers moving accounts, writing a check, taking cash out, spending money with zelle, so 4 trillion plus a year. In 2021 that grew over to 2022 growth rate was 9 to 10 . In the early part of this year, 23 First Quarter o
Trim apple and sold off paramount at a loss. Speaking of paramount, the company is, or its special committee is opening up negotiations with sony and apollo. Theyre also talking with skydance as well about their bid for the overall company. From here at the Milken Institute global conference in los angeles, the next two hours, were going to be joined by marc rowan, David Solomon, and darren woods. So, nice lineup ahead, guys. Lets begin, david, with buffett and apple after that stocks friday rally. Berkshire says it did trim its stake by about 13 to just over 135 billion in q1. Didnt stop buffett from praising apple at the meeting over the weekend. Take a listen. At the end of the year, i would think it extremely likely that apple is the largest common Stock Holding we have now. When we look at cocacola and American Express and apple, we look at them as businesses. Now, theres differences in tax factors, managerial responsibilities, all sorts of things, but in terms of pulling your mon
Talking about debate all morning seven candidates taking to stage second gob dab fox nice contributor on Reagan Library in simi valley, california. Maria, good morning to you even though former President Trump was not on that stage last night was subject of multiple attacks from those candidates perhaps because starting to realize they got to do something to get into lead in polling got to do it past Chris Christie went after trump other handling of the border take a listen. Donald trump, failed on this as well. He said he was going to build a wall across the whole border built 52 miles said mexico will pay for it guess what . I think if mexico knew he was only building 52 miles might have paid for 52 miles. Topic last night uaw strike people asked about President Biden joining the picket lines also being asked where do they stand on this strike do they side with union or do they side with the Auto Companies here is what Vivek Ramaswamy had to say. People going through real hardship in