Psychological five level last night before backing off. Investors closely watching the weekly close and what these moves mean for the yield curve. Mike santoli, cnbc markets commentator joins us. I did mention uninversion is happening for the wrong reasons. Exactly. Uninversion, in general, is not great. This time its happening because people are willing to sell the long end bonds. This time there is a little bit of a bid in the short end. You have had twoyear yields come down. All that being said, you know, the stock market is down a little less slightly than it was a few minutes ago. It was a very determined angle of descent down to 1 drop in the s p 500. It just seems like markets getting a little twisted up and risk averse in advance of the weekend. There actually is a little bit of a bid in treasuries. As soon as you get maximum afraid of 5 yields, we back off 5 yields. And its a matter of making our peace with it and why is it happening is part of the story. But just what the eff
It is thursday, okay 123wer, 8 00 a. M. On the east coast, take a look at live pictures this is a live shot of smoke in gaza the explosion happening moments ago. Secretary of state Antony Blinken israeli bn ben will holding a press conference comparing brutality of hamas to is isis, the Israeli Regime is entirely responsible for unfolding violence as Business Leaders are looking to blacklist students for writing that, from future jobs, at least a dozen ceos endorsing the ceo of hedge fund giant Pershing Square Capital Management bill ackman calling on getting the names of every student who wrote that letter, and denying any hiring of those students from their student groups, take a look at New York Post cover this morning, schools in hate, bill ackman, wall street wants names of harvard israeli bashers does not hire them, mark reaction. Mark i very rarely agree with bill ackman in this situation i think one hundred percent on point, anybody that supports, murdering raping women be head
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
We got this weak Gross Domestic Product number, just 1. 6 growth anemic and a surging inflation number connected to the gdp up 3. 7 . Bad combo. Which is why the dow tumbled 375 points s p lost. 46 . Nasdaq dropped. 64 . Ive got to tell you it was much uglier at one point today. The dow was down almost double where it went out. As we heard all day about the Slower Growth and higher inflation and that meant the dreaded term stagflation and that environment is toxic for stocks the house of pain on top of that one of the markets greatest leaders Meta Platforms got crushed today. I mean, just annihilated not because of its earnings which were stellar but because it committed a huge amount of spending most of it directed toward generative Artificial Intelligence whats bad for the meta goose, though, is good for the nvidia and broadcom gander, which is up 29 points and 37 points respectively as theyre going to get a huge chunk of Capital Expenditure budget i still believe in meta, more on th
People to remain calm. On our mind is an inclusion of this for operation. Him underitary has house arrest for several days. The november 12 quake killed more than 500 people and injured thousands more. Live in new york, we are 30 minutes from the close in the united states. Stocks kicking off in the green. Youhe question is, what did miss . They are already concerned its future in the senate. Paul krugman brakes on the winners and losers of tax reform. Taking his day for time warner has hit a snag. They have filed an antitrust suit over the proposed merger. Can abreast are giving the nebraskaeline giving the Keystone Pipeline the green light. It is not breaking news. Expected the spirit is a politics or business . It is business but also politics. It is an Important Development in terms of the Justice Department under the new administration. In a lot of antitrust experts have both sides of the aisle in terms of where they think this will end up. Is a vertical merger. Much more difficul