David and what did he think . Alix board. He talked about all of the bored. He talked about all of the hasht ags. Boring. That much what he said. If you are Corporate America listening to the democratic debate, you are saying oh my gosh, what am i in for . David it is a very different attitude from President Trump in 2016. They really want to take on big business. The Ford Motor Company has put some numbers around their restructuring in europe. They are going to lay off 12,000 people. We already knew they were laying off 5000 in germany. The is this is part of overall restructuring effort. Said they are pulling back in europe. Alix germany, ukraine, russia apparently the hardest hit. David they havent been making a lot of money in europe. Thats be frank, all of the european automakers have been having a tough time. Gm got out entirely. It makes sense, but it will be very difficult for a lot of people in europe. Alix take a look at what is happening in the market. Not a lot come of the
, Lisa Abramowicz and annmarie hordern. Live from new york city, good morning. For audience worldwide this is bloomberg surveillance alongside Lisa Abramowicz. Your equity market on the s p 500 down yesterday just a touch down this morning by one third of 1 . Cpi upside surprise, pce coming up a little bit later. A lot of people are saying thats the big data point but how do you trade the market that seems to be driven by its own sentiment. That seems to be with the lack of conviction i read all the notes overnight i have to say the headline of the day frankly is momo fomo or own no. You can translate that later in the program. Ultimately over the last few weeks the last few months this market is repriced aggressively. And the fed hasnt had to adjust at all. President williams sounds like a president williams we heard about a month ago. Three times seems about right for fed rate cuts this year. They havent changed their message. Market kicking and screaming. But heres the real question
This morning, good morning. This is bloomberg surveillance on tv and radio. All about the bond market out there allowing the u. S. Downgrade. Some half decent jobs data and the treasury announcing a ton of supply. Yields of every single day this week. This could the board of if we can on the bond market. 10year u. K. , japan, and germany. Higher by six basis points. I wouldnt call it dramatic. Lisa it is not dramatic, the slow bleed upward has gotten new focus as we reached levels that we havent reached going back to last november. You could talk about fitch and the downgrade yesterday but a lot of people view that as an excuse to catalyze the fears of the fiscal overhang of the new borrowing schematic from the u. S. Treasury department which is bigger than people expected. This general concern that if the economy is going to recover, maybe you get a soft landing, maybe no landing. Jonathan excuse to sell or a reason to sell . Lisa it was an excuse to sell for people who werent necessa
Stocks not doing much. Revenue forecast, certainly concerning. Well talk to jim a lot about that, and well talk a lot about snowflake. That stock is down dramatically this morning, both on guidance and the news that its ceo, Frank Slootman, will be retiring. Suboptimal. Yeah. Suboptimal. Lets start with the inflation data, sort of get that out of the way before we move on. Whats your take on this pce number . In line is cool. Thats the way i look at it. I think that there were a lot of people who thought after the cpi this one would be bad too, and when you look at the progression of the s p futures, david, it really is incredible how negative people are underneath. I mean, when frank was on, frank holland, this morning, he saw the futures just sinking as if the it was a foregone conclusion that the number would be too high. We keep seeing that, which is, i think, one of the puts underneath the market, is the actual negativity of the futures. Interesting. And to your point, there is th
On radio and television, what you need to know, a data check into our discussion this morning. The markets are on the move. Just one icon from the Northern Pacific rim, the japanese yen through 1. 50 is historic. Lisa its not just the yen, the bond yields are continuing to go up and youre seeing softness in areas where we see companies outperform. When we reach a Tipping Point . We are not there yet. Tom Julian Emanuel will join us later. Its real simple, he says the fed cannot be happy. You see that with the unraveling of the two sent spread. Lisa the market maybe is doing the work for them but its not clear its actually doing the work thats needed. We will get a gdp figure today that shows a reacceleration in growth that is not what the fed wants to see. We saw a blowout number yesterday of new home sales. The fed is not counting on this to drive down inflation. Tom im drowning in the narrative. Katherine greifeld is joining us this morning. Gdp, first look, 4. 5 . We are struggling.