City this morning, good morning. For our audience worldwide, this is bloomberg surveillance coming in to wednesday with the nasdaq at alltime highs. Equity futures just about positive. Your lineup looks a Little Something like this. Cpi data in america alongside u. S. Retail sales Neel Kashkari, nikki bowman with a lot to say about this inflation backdrop. If they really want to give some sort of hawkish message this market is not listening. They want to rally on the disinflationary pivot regardless of the data it gets. Fed chair powell yesterday coming out saying hes less confident in the disinflation narrative we are seeing near alltime highs in a massive rally in bonds. The consensus is overwhelming. I was going through the estimates. 68 estimates into the survey. 63 of them have put down 0. 3 percent for core cpi. Annmarie we also have retail sales which a lot of people are saying might be more important because we get three point whatever it is on cpi. The fed needs to see consist
500, and the nasdaq of higher. A big rally, the dow up five days in a row, the first time that has happened since the beginning of november. The best fivebased rate for the dow since april. The bulls are out, even for the nasdaq. Yesterday we had a mixed session. He nasdaq yesterday down 1. 3 there is follow through. Investors are buying the dip. , up 6 . Transfer the dow transport right now on pays for the best week since 2011. Lets break this down with the airlines, american airlines, united, delta all trading sharply higher. Behind this, a note from an analyst at ubs talking about the measure of revenue within the industry is likely to go up. There is strong seasonal demand. That could be a piece of what is happening with american airlines. An issue with a shortage of pilots for their airplanes and stronger than anticipated for demand. Breaking down the s p 500 rallied, all green. This is a great way to see what is happening sectorwise. All 11 sectors are trading sharply higher. Ene
Even the dow transports, big gains. The dow is up 1. 5 , up for its best day since march. On pace for the best day of the year. Record highs for the dow and s p 500. 1 up tenths of. 8 . The dow is on pace for the best week since 2011, so investors seem to have confidence that tax reform may happen. They may be encouraged by opec reaching a deal to extend the supply cuts. We take a look at the s p 500 in the bloomberg, it is having its best three days of the year. This is g btv the 1 move up, move down. We see that yesterday, a tiny move down. Today, a 1 move. The first time weve seen that since september 11. Looking at the best two days for the s p 500 of the entire year. Lets break down what is happening the what is helping the s p 500. Trading higher as yields rise. Apple bouncing back from yesterdays selloff. Microsoft doing the same, impressive there. As for the dow, having its best day since march. Above 24,000, more record highs. These are the top performers goldman sachs, up nea
We see little bit of a lack of direction when it comes to stop. The stoxx 600 is pretty much flat, moving sideways. There has been quite a lot of movement in the u. S. 10 year yields. This week we have been looking for the 3 mark. We have not gotten there yet. Investors are trying to figure out exactly the Monetary Policy. And you have a little bit of movement in the euro sck. In the meantime, you can see the andmberg dollar index coming up, we talk brexit and trade. Later, david bloom from hsbc gives us his forecast. E talk gun0 p. M. , w control. Now, lets get straight to the bloomberg first word news with nejra cehic. Nejra theresa may held an eight hour brexit session in an attempt to win anonymous backing for her divorce plan. She went to give european rules in many areas, while breaking away partially or fully with others. The European Commission preempted the meeting by saying what it has heard of her plan will not work. Former Trump Campaign chairman Paul Manafort and onetime a
And im Francine Lacqua. Lets quickly check on your markets. Global stocks are definitely rising. Shares in japan are probably advancing the most. The yen weakening after the bank of japan left Monetary Policy unchanged. Treasuries holding onto losses. Traders still, i think trying to digest the more hawkish tone struck by the federal reserve. I wanted to put gold in there as well, practically flat. Lets get straight to the bloomberg first word news. Reporter russia has verified that the Islamic State leader has been killed. Isisuld be among about 30 commanders killed during a bombing raid last month. It is also said the attack killed another 300 Islamic State fighters, but provided no explanation on the delay in reporting the airstrike. Anger is growing over the deadly blow that struck the apartment tower in london. The official death toll stands at 17, with the police morning fatalities could reach critical figures. Prime minister theresa may has ordered an investigation into the trag