Asia a new benchmark lending rate, 4. 25 down from 4. 31 that help stocks early in trading and the hang seng and shanghai gave up those gains. Hang seng down by a quarter of a percentage point stocks in japan were higher. The nikkei closed up by just over half a percent. In europe with the early trading taking place youre going to see that at least the three major averages are in the green right now. Germany just barely. Its just above the flat line but the cac is up by a quarter of a percent stocks are weaker in italy and spain and then if you check out the treasury yields here in the United States, this again is what the market has been watching so closely. Those yields lower today the ten year note sitting just below 1. 6 the two year at 1. 518 and the 30 year bond is above 2 but just barely 2. 04 . Home depot reporting 317 a share. Thats above 308 thats what the consensus is however the revenue indicated 30. 984 and its at 30. 8. So the stock is indicated at this point down a littl
Stocks meandering, right . Government bonds are getting walloped as yields rocket to outer space. Here is the thing, wall street is loading up on bonds. The assumption is yields coming back to earth quickly. I dont know. Lance roberts will make the case buying bond over stocks. It is the wild west. Talking about the options market. Trading some has sparked late session selloffs. Paul schatz says it is happening and he will show us exactly why. American consumers are running out of money. What i glean from walmart earnings. Maybe they wont be able to pay back the Student Loans. We have two amazing guests. Speaking of outer space. I have a special shoutout to a 97yearold vet. Well share some of these hoop posts you put on twitter yesterday. All that and more in my takeaway. All that and more on making money. Charles all right, so as we wrap up earnings season the action in the market and the economy, you know, still have some people on the street clinging, not some, the majority of peopl
Investors eyed events in washington like tax reform and comments from the fed chair nominee. The gains were broad. The closing numbers attention getting. The Dow Jones Industrial ave climbed 255 points to 23,836. The nasdaq added 33. The s p 500 gained 25. Investors were glued to three stories tonight out of our nations capital. We begin with ylan mui on the advancement of the senates tax reform proposal. Reporter the Senate Budget committee voted to move the republican tax plan to the floor today. And that means the gop is on track for a final vote by the end of the week. This was a critical step because there are still several republican senators who are on the fence over this bill. Senator ron johnson of wisconsin says he wants bigger tax cuts for passthrough businesses and senator bob corker of tennessee is worried about the impact on the deficit although he did tell reporters that a broad agreement with gop leadership to ensure that his concerns are addressed. Now, the debate over
Julie . Julie we havent seen as much swinging around and eason days for the mazer averages. We have seen stocks lower, remaining there, with modest losses for the moment. Continuing that selling momentum that we saw yesterday. If you take a look at the groups on the move in the s p 500, financials are the biggest drag on a weighted basis, accounting for a third of the drop in the s p 500. Take a look at the bloomberg for a look at the wheel, with financials down three quarters of 1 . Selling off materials and real estate as well. Here, its not the big banks that are falling on a percentage basis, it is the insurers. Surging about 12 yesterday after that Company Reported that they were drawing interest from some of the rivals, including alliance of germany. Jpmorgan is skeptical that ollie allianz would be earnings with higher than average estimated expenses for the fourth quarter, perhaps shares on their trading lower. What is interesting today is that these are coming even as mann yie
We are seeing american expectations is reflected in this university of michigan report an eightmonth low. Economists were looking for reading of 94 even. That is a decrease from the number we got for june. All of that said, the gauge has 90 forove 94 above eight months. It looks like again if the forwardlooking indicator within this overall reading thats coming in below estimates. Matt jules, thank you. We will take you back and check very little change on the s p 500, you can see really unchanged there, 21 lh. The Dow Jones Industrial average down in the face of Big Oil Earnings that dropped and disappointed. 17,702. A 44 point drop. The nasdaq up, i would call that unchanged as well. Julie i would indeed. Not just the data we just saw a few months ago, but the wage data i know we spoke on your program. Matt 0. 2 , increasing wage cost. We were looking for. 6 . Last month we had. 7 . That was a disappointment. Lets get to the top stories cross the bloomberg terminal at this hour. Hiri