Is really iffy. Jonathan for the Federal Reserve, it is the shift from the realization to accommodation. Everyone has spoken about this, that today is too early to announce forward that to announce Forward Guidance. Tom i totally agree. A giant of the richmond fed made very clear, steady as they go is what we will hear from chair powell. Jonathan what an agenda this wednesday down in washington. Lisa we are talking about the big four tech companies, all of the ceos testifying in front of an antitrust committee of the house. Republicans on one side questioning them about stifling republican voices. On the others, questions about stifling competition. The president is traveling to texas to talk about energy dominance, with just three days left until the federal Unemployment Benefits go out of effect. Jonathan look forward to full coverage on bloomberg tv and bloomberg radio. Lets get the price action this morning. Equity futures up five points on the s p 500. In the bond market, improvin
Way to the indian border. Theres tangible issues. No question they are flexing their muscle right now. What i would notice in this market on a quiet wednesday, i know you will do the data check here. Publishing moments ago this bullish consumer view, and that was a game changer yesterday with the retail sales report. Jonathan we will catch up on the geopolitics a little later in the hour. Equity futures up 19 on the s p 500, focusing a move higher over the last several weeks, up by 0. 6 . Just surprise after positive surprise. The economic surprise index in the United States is absolutely flying. And it is at a record high searching higher after yesterdays retail sales beat. It was just an absolute trout. Today absolute trounce. Today i am going to be watching the u. S. May building and housing permits starts to get a taste of what we may expect. U. S. Loan purchase applications hit an 11 year high last week, so that should be some sort of indicator. 12 00 p. M. , fed chair jay powellc
Edward tom good morning. Wfh, as the jargon now, you work from home. When do we all get back to the office . We thank you for watching. A really interesting wednesday. There are a lot of political moments, theres international relations. In the market, im sorry. I started out this morning with on, and all much going now a bid to equities once more. Jonathan you the word crosscurrents. I think that is the right word this week. We have betterthanexpected data in the United States. I think the data right now is absolutely critical. The Federal Reserve has played a huge role in this market, and clearly that is exacerbating this, but the veracity comes from the betterthanexpected data. You have to say that this rally tracks that pretty well so far. Tom lisa abramowicz, what have you learned about the efficacious nature of fed policy . Is it helping right now . Lisa it is helping to push down yields and push up prices of assets across the board, and certainly hoping to encourage companies to
Japanese yen is a safe haven. I must say actually, the japanese yen is up than u. S. Dollar and is holding up. Oil is definitely on a buy. Wti, to give us a sense of the volume. Brent crude is saving four times its volume and w. T. I. Is trading six or seven times. The markets are definitely moving with this geopolitical news overnight. Its time for the Global Exchange from around the world. From london to istanbul to prints on, new jersey and washington. Our bloomberg voices are on the ground with this mornings top stories. We begin with tensions in the iddle east where one of irans most powerful general killed. The u. S. Active International Terrorism targeting and assassinating is extremely dangerous and a foolish escalation. The u. S. Bears responsibility for all consequences of its ogue ven chur churism. Mark, what is the reaction . Ive seen some demonstrations already in iran. Yes. There have been protests in iran which is the city where he was born. The key thing to remember abo
The currency weapon has been. Yeah. It was a big surprise last week when the president dropped that tweet about september 1st tariffs. And some people that i talked to, tyler, and kel, it changed the game for them. That what they thought they had was a figured out market for the most part. They felt that way because of the fed and the rate cut and they felt like they had their hands around where the market could go in the months ahead were still throwing out of whack by that. Going into that, this was a market that was up almost 20 , so far this year, trading near record highs coming off of good earnings, fed rate cut, felt it was all working for the markets. As you heard Barry Banister say, sure, we get more of an odds of a fed rate cut, trump did something good on the trade front and markets will be fine on that note, well hand it over to you guys. Youre always one tweet away. Thank you. Well see you later. Welcome to the closing bell. Im scott wapner stocks plummeting, names like ap