What a fist half it was. Well have more on that in just a moment, but we begin tonight with that meeting that investors have been all waiting for, President Trump ane c president xi are in japan at the g20 summit ready to discuss trade. Analysts say that this discsion could mark aurning point for the market which has been bouncing around for months now onll any and headlines of progress and stalemates between the w two largest economies. Kayla towshe reports from osaka, japan. Reporter white house officials cant say with xacertaintyly what will transpire during President Trump and president xis 90minute meeting, but a Senior Administration off tells me the working assumption is that it will result in an agreement to deescalateon tensi and resume talks for a unspecified amount of time, that is unless president xi refuses to revisit e terms beijing balked at last month. Since then tensions haveig ened but theres still an opportunity according to the negotiator. I think president rump nee
Oracles cloud revenue surging by growing ai needs. The boeing challenge citing delayed aircraft deliveries, rethinking the 2024 financial forecast. Lets begin with the Market Reaction to cpi. We mentioned a tenth hot at. 4. Shelter and gas 60 of that. Surprises in here, mike. Apparel up. 6 , a topic of discussion. Yes. I think what the market did, there was a quick reflection when they said, okay, this is hotter than expected. Stocks back up. Then the rethink was, well, the things that matter and that will translate into what the pce inflation number is going to say combined with how high a threshold was set by powell last week for changing their premise that they are preparing for likely rate cuts in the summer. I think all that fit together. The core services, stubbornly firm, inflation readings there, dont translate that the pci will go in the same direction. Thats part of the mix. We are also geared for shelter being stubborn. You didnt see the uptick like we saw in january. All th
2 00 in our trading day on the east coast. Nasdaq composite leading the way again up 1. 6 . The s p 500 adding more than a percent. Dow jones industrial are the laggard but higher by half a percent and chip stocks helping to boost that. Nvidia now up 85 this year. Its added almost a trillion dollars in market cap in 2024 so far. Its only march 7th. Micron higher on the upgrade from stifel and intel gaining on reports its expected to receive 3. 5 billion from the government to develop advanced chips for the military. All about the chips. 900 a share. I mean. For nvidia. I remember when it was 700. Unbelievable. I remember back when it was 700 about two weeks ago. Gosh. Lets move on now and begin with the state of the union. The president is expected to propose, among other things, a 21 minimum tax on corporations and a quadrupling of the tax on corporate buybacks. Bob pisani joins us from the nyse and you followed buybacks for years and what would the impact of what the president is pro
Parker adam, its one of these times where if you look at the message of the market and try to figure out how its behaving, you give a lot of credit to saying that we have a pretty bright outlook, right, in terms of the broadening out of the market, the fact that we havent went down in a while. It feels like were scaling the wall of worry. Volatility has dropped if you try to figure out the fundamental inputs that substantiate the behavior, maybe its tougher in terms of valuation. So where does that bring you i mean, i think whats in my mind the rally earlier this year, i thought part of the reason were up is the bear case doesnt seem as likely, consumer real income is doing okay, you can get a job if you need one. So that explains to me some of the market rally, just a lack of the bear case. But i think in the last five or six weeks the lack of the bear case isnt the only explanation. Now its a more plausible 2024 or 2025 bull case, which comes down to, you know, fiscal stimulus for de
Will this battle royal strike price cuts across the restaurant space. Well see what option action is ahead of earnings, buzz kill on workday, whats behind the double digit drop and the traders bring us their charts of the week im melissa lee live from studio b on the desk, steve, dan, carter, and mike and we start off with a record breaking week on wall street the nasdaq jumping more than a percent to set a high close. It is up nearly 13 this year, but its not just tech thats leading the market gains take a look at some of the names hitting records today. Walmart and costco in the consumer space, Utility Companies like eaton, constellation energy, industrials like howmet air space and names like netflix, moderna, Johnson Controls and others at 55week highs. With markets back in rally mode and strengthening seen across all sectors what do you do with these names now . What are your thoughts on our senators. Its interesting. Im looking at my screen, i see the s p up versus an s p up 11 .