I am Katie Greifeld and welcome to bloomberg markets. You take a look at the markets and there is some red on the screen. The s p 500 off by about point read percent, a far cry from this time 24 hours ago. You look at the nasdaq 100 and the big tech names and it gets worse. The nasdaq 100 off by. 8 , not too big of a move but to the downside. This as we count down to the fed decision. That line is what you want to watch, the 10year treasury yield lower by one basis point. We are sitting at 4. 3 or so. Of course that meeting kicked off at 9 00 a. M. Let us dive deeper into the markets with catherine, the stone next financial chief market strategist. Let us talk about the fed but let us start about the bank of japan, the big news out overnight, the negative Interest Rate and the zero Interest Rate era is over. What could that mean for Global Markets . It could mean a bit of an impetus for more growth in japan, i think the negative Interest Rate policy was controversial in its effectivene
Im Katie Greifeld in new york. Take a look at markets this morning. Near alltime highs, but a little over today if you take a look at the s p 500, slightly in the red, down by about 0. 2 . Of course still above 5100. Look at the nasdaq 100. Losses getting a little more serious, down about 0. 8 . That follows a big update yesterday. You can see volatility rising a little bit. The vix still below 14, but inching higher and higher. Lets get to what is happening this hour. That is the house voting on a bill that would force chinese tiktok parent bytedance to sell it or face a ban in the usa. The company is planning a full legal fight if the bill becomes law. Junkie double o streams me from washington. Jackie double os davalos joins me from washington. Jackie as you know, the house or the senate have not found Common Ground to agree on almost anything except this bill. It is a bipartisan effort that was brought forth by the House Republican chair of the select committee on china, Mike Galla
Right now. Coming up, still sticky inflation has fed official sounding hawkish, feeling a continued crime climb in treasury yields and signs of weakening demand on thursdays 30 year sale. Maybe the feds job is not finished yet. We have a lots of pricing pressure from services. Fear free acceleration. Where is the real acceleration going to come from . It is not exactly what the fed wants. I think they are done on rate hikes. I dont think the fed has done enough. That will bring inflation down to 2 . The doors open for a hike in november. It could be the fed skips the next meeting and then hikes again. We do not see rate cuts in 2024. We have a lot of crosscurrents in the data. The fantasies the fed sees putting inflation down as a marathon not a relay race. Katie joining us. Eric, when you put together everything we learned on the economic front from ppi to cpi in the past 24 hours, what does this mean for the fence after the feds path forward . Eric i think the development was good. C
I am Katie Greifeld in new york welcome to Bloomberg Markets on this friday. You take a look at where the s p 500 stands in trading. Its a red day so far. You can see the s p 500 off about. 6 , slightly worse if you take a look at big tech. The nasdaq 100 off by about. 9 . All the while you can see the volatility rising a little bit if you take a look at the vix. Of course, still at pretty depressed levels, under 15 but getting closer and closer. Im thrilled to say we have a great guest on these markets. We are joined by rob arnott, Research Affiliates founder. Good to see you. Rob good to see you. Katie lets talk about nvidia because you warned in september you saw a big market delusion in nvidia. It was a great company, he wrote, but christ beyond profession perfection but christ beyond if it was perfection that it was priced for then, what now . Rob beyond perfection. Rather than singling out a single stock, its interesting to note that back in 2018, we developed a definition for th
Same for the 30 year yield. Youre watching it cool a bit about six basis points but we are still more than 20 basis points up on the week, a stunning move at the long end of the curve. I want to look at earnings because i want to take a look at apple. Taking a beating in the market with more than a 3 decline, the worst drop we have seen since january. I want to talk about amazon because that is such a positive story with not only revenue increase, a slowdown in spending for the ecommerce giant, pushing the shares of more than 10 , the biggest jump we have seen since november of last year. Coinbase almost flat on the day. Lay down. 2 it is only down. 2 . You do have coinbase with us says, just underwear wall street had expected and uncertainty about the stock after a rally this year. Icahn enterprises has been a big story on wall street. Down the most it has been in history after slashing the dividend by havlf. A helpful breakdown of the micro stories on the macro day when it is in nort