He will be traveling to washington hell be here a couple of days saying negotiating teams from both sides remain in close communication. President trump saying hes going to later travel to beijing to begin talks on the next phase. I think well talk to eunice we never know until we know. The last thing we heard from eunice was, you know, the president says there is a signing next week but havent heard anything from the chinese side she did point out that it was good for the chinese to have this happening now ahead of the Lunar New Year too my point is that they would never say anything and deliberately stay and let us conjecture it is always bad they never signed off on this the day before the market pulled back a little after someone said something that the chinese are uncomfortable with something until we hear right from the Commerce Ministry. Just a lot of times sitting there, what they looked like. They are more reserved and are tweeting about this stuff. Anyway, looking good. Hope
A very good morning, welcome to bloomberg daybreak australia. The top story this hour, australias reserve bank is expected to hold its key rates until the final meeting. China is expecting to hold people in default. And chevron begins mediation with workers at its lng plant as unions threaten strike as soon as this week. A lot to get to underway. We are keeping off a u. S. Holiday, that being said. Early indicators suggest the newest speeches are coming online as we speak and the focus on whats happening in the oil market. We are at 86. That being said, the quality of Risk Appetite for that stock given the volumes were streaming extremely thin. We close lower in europe. Make no mistake the vix suggest weve cascaded down in terms of price erasing all gains across the board. Europe is trading the 108 handle. We are moving into a session now. The adjusted earning, those earnings at five yuan. 11. The revenue no for the Second Quarter is 2 billion you and its worth watching in terms of the
To daybreak australia. Shery the top stories this hour. Israel and hamas trade blame after hundreds are killed in an explosion at a gaza city hospital. President bidens summit with arab leaders is canceled. Haidi u. S. Treasuries and stocks fall. Nvidia slumps as the u. S. Restricts sales of chips made for china. Shery more big bank earnings. Goldman sachs post on earnings drop. We had a mixed picture when it came to the Bank Stock Trading session and of course a lot of volatility in todays session given the soaring yields we saw in the treasury space with the slump resuming. We had the s p 500 finishing almost unchanged. A lot of that to do with the fact that we saw strong Economic Data again a large jump in retail sales also solid Industrial Production numbers that sent the two year yield to the highest point in 17 years. We are watching the u. S. China reports as well as we heard about more restrictions when it comes to technology exports to china. So the Philadelphia Semiconductor
Russell 2000 is the biggest decline this afternoon and all of this happening, of course, just as the fed meeting gets underway and the chairman expected to carry a hawkish tone tomorrow afternoon. We shall see as we live up to that. It does take us to our talk of the tape. These necks, critical 48 hours beginning with those amazon numbers, yet another mega cap stock with a very hard by to get over. Lets bring in our panel. Mark of evercore. Cnb secret contributor, kate rooney getting ready for that print, im going to throw a little bit of an audible, admittedly off the top, mark, im going to come to you first because we are going to talk about amazon and a second but i want to talk about alphabet right now because i just got dan loebs up third point, his ew investor letter in which he discloses a new position in alphabet. He says during the First Quarter the funds made a substantial investment in that company and, mark, i want your take on what he says was really a capitalizing on the
Thats just because it is seems unnatural. Every day its up 1 , half a percent, not used to seeing that without any correction overall if you look at the end game and where youre going to be, the market will be higher 10 yesterday. I agree. Theres too many positive tailwinds for it to end here. Gary cohn in an interview today said the following i think the stock market and some other pretty famous investors over the last 24 to 48 hours have agreed with us, that the stock market is not expensive right now. Who do you think he was referenceing warren buffett. I dont think he was talking and david stepper. His former colleague. Buffet came out and said that, too. Buffet has 120 billion in cash no way he thinks the market is cheap, no chance. I dont think no chance. I dont think anybody is saying this is bubble territory, definitely not hearing that. We can make the argument that were maybe above fair value certainly not cheap, but first off bull markets dont die because of valuation, and e