Yet thats exactly what just happened with the dow slipping just 143 points. The nasdaq backsliding a meager 0. 28 . Even though the price of crude spiked more than 10 gigantic, gigantic gain. How the heck is that even possible how could we have so many stocks that rallied on the news simple were a changed country. We have so much oil in this country and we have a lot of stocks that now do better with Higher Oil Prices and as well we have a lot of stocks that thrive if higher oil causes the economy to slow. The United States of today looks a lot different from the United States of even ten years ago first lets understand it looks like iran launched drone strikes that wiped out a huge chunk of saudi arabias Oil Infrastructure and theyre the biggest exporter in the world. That sent the price soaring, the biggest gain in 11 years and that translates into higher gasoline which means consumers have less money to spend on going out to shop. So we have it making per secretary sense. Theyve had
Above 3000. Some of the banks impressing investors. Kbw baking index up 06 . Schumberger down 1. 9 . Generationlow seeming to have investors spooked. Alliance data systems the worst performing on the s p 500. There is a little selling going on in that stock today. Lets go to europe, where we are seeing some challenges in italy. The ftse moved down 1. 7 , the worst performance in europe. The stoxx 600 is higher. It is up 0. 2 . Earnings in europe pretty strong all told. Italy with a little bit of turmoil. The euro as well little lower on that turmoil. The italian 10year yield at 1. 26 . We are seeing buying. Lets get insight on what is driving markets. Joining me is bloomberg macro recorder cameron crise. Did the Federal Reserve conversation change 180 degrees again in the last 24 hours . Cameron we thought so, and then not. It was kind of farcical. Yesterday, John Williams was talking about the advisability of going early and hard in terms when facedg campaign with a downturn when poli
Stopgap funding bill to kick the can down the road a bit longer. And later on, a closer look at one sector that is sis gaini lot of ground in 2024. Its friday, march 1st, 2024. Youre watching Worldwide Exchange right here on cnbc. Good morning and welcome to Worldwide Exchange. Im frank holland. Lets get you road ready for the first trading day of the month. The check of the stock futures. The s p and nasdaq sitting at alltime record highs leaping to them on leap day. You can see a bit of a mixed picture. Dow down 35 points. You see the nasdaq firmly in the green. S p is fractionally higher and almost flat right here. The dow, s p and nasdaq off the fourth straight winning month in h a row. The nasdaq is the leader. With the nasdaq coming off the first record close in more than two years, we get a check of the stocks to help us get here. Nvidia is up 61 . Constellation energy may be a pr surprise. The best stock in the s p and followed by meta up 39 . The bond market check after the pc
Was the news when you start the budget that you sonya is the most brochure. It can you know who the theater, the video or stuff. Im load it almost smarter than cooper. I school just we watch the video to lose you play. He blow which know how to get in get to foster body. So ship a visual computer, peach mine. And so when you move on to telephone credential stone, you put the money about the rules in your profession, the city, if you keep the school to get them, claudia will post the showing you which a couple of presumably, ditch prestone ocean stuff. The exclusive ebony may use his lapse, the deal of due to the new age of so long will change and what would you plus you have the watch so or could you let him go on a computer with gloss wondering why to him not to look so im not sure im gonna show switch to the already so all of the books could, should have gone up. It will show thumbs when you want to save me. Do i mean im here for full the beach, but the people did also push it, but i
Arm set to set trading in the next few hours. The biggest imo of the year. Stock pricing at 51 a share. It was at the top end of the anticipated range giving it a market cap of 54 billion, 95 million shares were sold. Lets kick it off with leslie as they build towards that first trade. The indications coming in, interesting. You know, they started the morning at about 62. That was the first indication. Fell to about as low as 57, which implies a 12 gain relative to that 51 ipo price. And now its kind of around 57, 58. Still have time before it starts trading. We could expect another hour, hour and a half before its open and off to the races for arm. But its interesting, nonetheless, just to kind of see where these indications are coming on because just kind of gathering some color from investors and bankers and so forth. There was some dispute over exactly where to price this. Softbank doing all of the selling here. The question was, do you price it above the range or do you price it a