Good Tuesday Morning welcome to squawk alley. Were with you for the hour, what a fascinating market day, john walmart and home depot tickiki things off then for awhile there a bit of a tumble the dow briefly at its biggest loss plenty of dynamics to watch as we watch the retail earnings and the progress on stimulus big stocks and big tech in particular apple is fractionally higher amazon perhaps riding that retail news overall. Up better than 2. 5 . Alphabet up about a percent. Microsoft lower, and then there is oracle. In the news because of this tiktok bid, perhaps, carl. I dont know if there is anyone not bidding for tiktok lets start off with exactly that as a source tells cnbc that oracle has entered the race to buy tiktoks u. S. Operations. Walt, you know what my first take was on this microsoft was telling this story about their focus on the enterprise now theyre bidding for tiktok and oracle, how does it facility them at all . Does everyone just have to have a look microsoft ba
President trump says talks with china have been good and xi jinping wants to do something. Alibaba beat the highest revenue estimates defying the slowdown with a june sales bonanza and robust demand. Lets get you a quick check of how markets closed that there is a session in the u. S. A very volatile session at 10 trading day. We saw the s p 500 fluctuating 12least 1 in the past sessions. It did manage to end the session higher by. 25 , this coming as we saw quite strong earnings reports from walmart helping investor sentiment. That also being helped by the fact that we got some strong economic data. U. S. Retail sales jumping the most in four months for a fifth consecutive session, consecutive months of gains. Still, there was not enough for the treasury rally to subside. Take a look at treasuries because that rally resumed. We saw the 30year yield now breaking below 2 for the First Time Ever. The 10year yield also at one point falling below 1. 5 , now at a threeyear low. Treasuries f
Speaking to fellow eu lieders in brussels, she may pull the on brexit as early as tuesday. We will trigger article 50 by the end of the month. This will be a defining moment in the uk as we begin forging ahead in the world. Good morning everybody. Welcome. Its friday. Its friday and jobs day in the u. S. Exactly. No one one hike in the december and then all about trump and all of a sudden its about jobs again. I cant believe were talking about four hikes from the fed now. If its a really strong report. Here in europe, were opening slightly stronger. Shy of 1 for most of the European Equity markets. In terms of the sectors and moves were seeing across the board, a lot of greens. Oil and gas, banks up by 1 percentage point. A rebound coming across the board in board. Also, larger announcement from bt. Well be speaking to the bt ceo later on about this agreement theyve reached. A giant Oil Field Found in alaska. The Spanish Company said the field could amount to 1. 2 billion barrels of oi
But the hang seng and kospi reopened after the Lunar New Year holiday. South korea down 3 . Shanghai remains closed until the end of the week. Meanwhile, the dollar falling below 112 yen for the First Time Since late 2014. The level of the dollar and the spread between Interest Rates, the did you see the ten year . Its 162. Hard to believe that we are back there. Its sliding by tremendous amounts, by the day. I mean, it was at, i dont know, its like ten basis points lower today than it was yesterday on this prospect of negative rates. Do you really think that she was going to satisfy on the markets yesterday . No. Going into it she was never going to get what people fully wanted. No way. There were some people who wanted her to completely capitulate and walk back from the move in december. Not only did she not do that, she said we have no plans to cut rates again. But theres also nothing that she could have said to asewage the market. She could have said well do more qe and the market
Dennis why movies are getting booted from the big screen in a desperate race to fight for your box office bucks. Cheryl time for stocks now. Every 15 minutes, bringing in Nicole Petallides. We talked about this earlier, you dont get big reaction today from the fed chairmans testimony, that is the good thing we are nothing a lot of volatility. You are right. We stayed within the 100 points range top to bottom. Up about 18 points. That being said, we do have a highly comminuted fed for the moment, they can turn on a dime. Housing numbers pretty weak for a month of june, that is not good news. Overall you do see we maintain up arrows. Dennis thank you very much, nicole. Ben bernanke answering tough questions on the economy. Peter barnes from capitol hill with what she has to say. Peter. Peter the fed staying on message on paper. It depends on the incoming data whether or not the fed will start to tapers 85 billion per month in bond purchases, quantitative easing sooner or later. But he di