Microsoft after the bell. First check on the markets. Dow up 300. Gains for the year pretty much flat, which is the outlier given the other indices. S p holding 4250. We have some decent guidance from old line industrials. That plus rates stabilizing adding to a pretty good picture. After five straight down days on the s p. Yields are up a little bit. Were below the 5 on 10year and guidance on Kimberly Clark and that es are companies that get hit by the strong dollar, which theyre absorbing. Lets start off with bonds. Bank of america saying the peak in rates could be around the current levels, though uncertainties remain high. Then barclays weighing in saying bonds dont look like compelling value despite the selloff. Ubs seeing better value in bonds than equities. What should we expect for rates from here . Do bonds provide better value than stocks . Joining us is td cowen president jeffrey solomon. Jeff, do you think weve seen the top in yields . I think were closer to the top than no
Plus were also watching jamie dimon. He called out Central Banks saying theyve been, quote, 100 dead wrong. Were keeping an eye on chip stocks, nvidia and amd planning to launch an armed pc chip in 2025. Lets begin with the markets and the industrial earnings parade. Jim, i was trying to think which one of these would interest you the most. Im guessing ge. And it is. What happens is larry culp finished the wind and lets say power business much better than i thought. Therefore, the spinoff will look good. Theres always been concern that that business would be a dud. There was never, ever going to be a growth business. Instead, it seems like it will be the esg business of choice for people. David, anyone who thought lets say the long on money short on time travel situation is over and thinks there is a great aircraft demand, wrong. Ge and rtx proved that the demand for planes is probably as great a secular story out there. Free cash flow as well, they say is going to tend. This is the qu
Revenue. More labor strikes to come. Thousands of hospitality workers in vegas planning to picket this week after another round of failed negotiations with the casinos. Lets begin with the markets trying to build on yesterdays rally, jim. Were you surprised at all by what stocks and oil did . Yes. Actually i started my show last night by saying a little counterintuitive you could have both at the same time. If you take a look at the same time, obviously, vice chair jefferson speaks and boom, 1 30. They couldnt take the oil stocks down because of whats going on in the middle east. They didnt have the bonds because of columbus day. It was a threepronged oddity that the s p could roar and we didnt have the bonds to key off of and set up a picture that i think was counterintuitive to most people. You had logan and then jefferson talking about higherterm premiums and being mindful, they said, of the impact of higher rates. Yeah. I also think you had the note from edgar din any. Hes always d
Elon musk is reportedly going, quote, absolutely hard core around head count and Cost Reduction as tesla plans for more layoffs. Lets begin with futures moving lower with the fed kicking off the twoday meeting. 4. 2 yearonyear, jim, maybe a little too low. The wall street journal this morning talking about how powell feels good about higher for longer. I still think march was weak and youre not going to get a really strong number from april. Housing, shelter, thats bad. Theres also an mcdonalds did a great graphic on squawk. Theres just this belief among people theres no controlling this thing. I think you do get control. One of the stunning things is walmart cant make any money because people are too expensive. Were in a period that people think its inflationary. That has to break. What breaks it . A recognition that we that companies cant offer what theyre offering. Lets take mcdonalds. Lengths say mcdamageds misses. Misses on earnings. Yeah. They have to say we raised the price too
When the 2 00 p. M. Deadline came and went. We will see what happens. These are happening not necessarily at this level, but all over at more campuses yesterday. South florida. You know, if you are watching, it could be any university at this point. Im not surprised to see it happening. Crazy. Everyone comes to these conclusions at the same time at every university. Very strange. Media news. Something that is easier for us to understand, i guess. This is not easy. Bob bakish is stepping down. Me merger negotiations with s skydance continue. Cbs president george cheeks and showtime Ceo Chris Mccarthy and Paramount Pictures chief Brian Robbins will be on the board. They reported 62 cents which beat estimates. We will talk more about the paramount news with rich greenfield later in the hour. To news about the Parent Company that Nbc Universal is prepared to pay 2. 5 billion a year to air a package of nba games. Warners tnt has been paying 1. 2 billion a year under the current deal, but fa