Surveillance. Annmarie hordern and Lisa Abramowicz. Jonathan ferro will be back. However, today we are happy to have brian levitt with us for the hour. Who has been absolutely right at a time when everyone has been looking for signs of greater disinflation starting with data about 2. 5 hours from now. Good morning. We are looking at market that are doing pretty much nothing. They did pretty much nothing yesterday as well. Brian, are you still a fomo kind of guy . Brian i am. Everybodys talking about the fed, they are so concerned when the fed is going to move and by how much. The reality is, markets historically have done very well with the fed on hold and the economy reasonably strong. We are still in a good nominal growth backdrop. I know everyone is going to be staring at that tens place in every inflation point that comes up. I think we are in a place where inflation is going to moderate and these markets are likely to press higher. Lisa at a time when we are at the twilight of the
Uranium etfs. Im Katie Greifeld in the york and welcome to bloomberg markets. You look at the board. A lot of green on the screen right now. S p 500 higher by. 4 . We are on track for a second straight week of gains. It feels like a while since we have seen that. You look at big tech. Currently higher by about. 6 . Your leader right now is the semiconductor industry. The Philadelphia Semiconductor index up about 120 on this friday 1. 8 on this friday. We have breaking Consumer Sentiment data crossing the terminal right now. Mike mckee joints with all the details. Michael i apologize. Its a nice friday and you are all in a good mood. The American People are not. We have a big drop in the university of michigans sentiment for the month of may. 67. 4, down from 77. 2. Current conditions fall to 68. 8 from 70. The outlook falls to 66. 5 from 76. The headline number is the lowest since last november. People are not very happy across the country. Coming up we will try to get more on that fro
Haidi welcome to daybreak australia. Im haidi stroudwatts in sydney. Annabelle im Annabelle Droulers in hong kong counted down the ages major market opens. Shery im shery ahn. Ourstories this hour. Market gets a reprieve as fresh data has back bets on another rate hike this year. Tech stocks and treasuries are rallying. The dollar is weaker. In the Sam Bankmanfried trial, prosecutors say the ftx cofounder is a calculated criminal that lied of the world. U. S. Futures coming online in the Asian Session under a little pressure after we saw ux u. S. Stocks gaining ground and the s p 500 finishing around session highs. The nasdaq 100 outperforming gaming 1. 5 in the new york session. Perhaps, not surprising given we saw treasury yields back down with a rebound rebound in the bond market with a 10 year yield headed towards 470. We had dated today coming in weaker than expected. The adp private payrolls numbers added the fewest number of jobs since 2021. So perhaps, thats a little sign of a
The analysis with the pmi chair. Welcome to bloomberg markets. What have you got . We were expecting 53. 5. This is where the interest lies. It sticks at 50 eight point nine. That is inflation within services, which is interesting. It is the new orders component that is really where the action is. It is the is the summer boom finally over . Quest you have yields down by about five basis points, so no dramatic movement. Is it weaker news is good news . Quest you have to break it down and figure out what to focus on. It is a really solid number, but we have had this really strong summer and now we may be starting to see it fading a little bit. It is the analysis. How should we be reading this data . Looking at the report, we had a slight pullback. This sector still looks strong. It was driven mostly by Retail Industry in september, into august. Now we are looking at this last quarter. Still on track for finishing up the year pretty strong. Why . Quest you touched on it earlier. People we
Into october . Lets bring in joe terranova, of course a cnbc contributor. And thanks for joining us. I wonder whether you think that given the intra day action today, is yesterdays bounce called into question or not . Well, it is end of the quarter. Just look at oil. Oil 95 early. Today settles 2 lower, significant reversal because oil was technically overbought. So there is a lot of dynamics that are playing out in the market. Small caps are back, small caps have been brutal over the last quarter. So a lot of positioning going on. I think that you have to now look forward into q4 and say to yourself is there a a catalyst ahead of us and i think that it would be earnings. I think that is the catalyst that can restore the prevailing bull trend for the equity market. We need technology, which has seen a lot of earnings revisions higher here as you march toward the end of the quarter, and that is somewhat inconsistent to prior seasons. It is going to be technology that is going to have to