Up another, what, 60, 70, 80 as of this morning. By the time we open, the dow will be, what, about 300 points away from 26,000, another milestone. Heres that big number, put it up again, please. The value of all stocks has now gone up 7. 6 trillion since the election. And more companies are giving employee bonuses because of the tax cut. Fiat chrysler and capital one are among the 14 companies to join the list in the last 24 hours. All right. Jpmorgans chief, jamie dimon, he says tax reform is a significant, positive outcome for the country. In other words, we aint seen nothing yet. Hes americas top banker. Weve got to get to politics. Dueling comments. A vulgarity from the president thrown right into the immigration debate. Thats not going down well. A raciallycharged comment from nancy pelosi, five white guys are deciding immigration policy, she says. The multimillionaire, pelosi, also says those bonuses are pathetic crumbs. [laughter] sit back, folks. Were on a roll. Money and polit
That dow ever close above 26,000 came after eight trading sessions youve seen four days this year where you have seen the dow going up 200 points or more. It only had six days like that last year. This morning futures are relatively flat. Dow indicated up 2. 5 points. Overnight in asia, china reporting Fourth Quarter gdp of 6. 6. 8 , bringing the 2007 gdp to 6. 9 we will get china bay book data at 6 30 a. M. Eastern time, independent Data Collected from businesses from china. Check out europe, where early trading is already underwa way the dax is up. In france, trading up by 0. 10 the treasury yield which we have been watching so closely, pushing above 2. 6 for the tenyear 2. 603 so we were at 25,000 and 1,000 points in eight trading sessions 1,000 on 25,000 is 4 think about 4 . What is every person say, sell side guy say coming on here. Mid Single Digits 4 . So either its more than that or there will be a lot of reversion of the mean. We did 4 already. I get a bit annoyed because its
For the majors. We have the s p 500 and the nasdaq ever so slightly higher and putting in new alltime highs and the dow down very slightly. Of ate the third day Government Shutdown, investors not seeming to care. Yet another round of record highs for both the s p 500 and the nasdaq. David over at mainstay capital says that they are desensitized to drama in d. C. , but the conditions for markets are over. That may suggest a 5 to 10 pullback is ahead. If we happened to the bloomberg and take a look at g btv to a 83, the last shutdown was in 2013. At that time, the s p 500 did drop about 5 . The rsi or momentum indicator had been overbought. At this time, we have the s p 500 5 above its 50 day moving average, suggesting conditions are overbought. Take a look at the rsi above 80. Katie stockton, the head of technical analysis, saying sentiment is overbought. She sees a 5 pullback is left. It will be interesting to see what triggers this. A lot of agreement that conditions are overbought. V
Direct assess to the Vice President for most lawmakers. Francis says he realizes it was a slap in the face to victims he never intended. He defended a chilean bishop accused by victims of covering up for the countrys most notorious pedophile priest. During an Airborne Press Conference as he returned home from south america, the pontiff said, im convinced he is innocent. Global news 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. This is bloomberg. Vonnie its noon in new york, 5 00 p. M. In london. Shery welcome to bloomberg markets. Vonnie from bloomberg World Headquarters in new york, here are top stories. We are following this hour. Shut down, day three. Mitch mcconnell calling for a temporary spending bill with a promise to deal with daca and immigration later. So far, no democrats willing to budge. We await the senate scheduled vote this hour. Stocks are edging higher to a certain extent as i investors shrug off the dollar continues to
After the big gains for u. S. Stocks yesterday. A big swing to a rebound yesterday. Youre seeing bouncing around occur today, and that has been characteristic of the past week or so. Swings between gains and losses that finally ended up with a big gain by days end. Nasdaq lacking today even as the s p and the doubt gain for dow gain. The major averages from a percentage changes as of days. Obviously, we saw a big moves the past several sessions that are clearly more muted, at least thus far, in todays session. We have to offer that caveat because we have typically been seeing big action as the day goes on in recent sessions. As for the earnings winners that you heard vonnie talk about, snap is seeing an outsized thing with the 33 boost after the Company Reported earnings that Beat Estimates for the First Time Since its ipo. We will dig more into that in a little bit. We will also dig more into those disney earnings. Disney shares have been bouncing around a bit. On the one hand it is s