Down days for the markets. Right now s p down by about 11, dow by 96, nasdaq off by about 47 we were so close to you dow 30,000 earlier in the week, but that seems to be slipping away a little bit 29,400 and change is where the dow is right now and again, down two days in a row, down again this morning and after yesterdays declines, all three of the major averages are in negative territory for the week a lot of things happening with covid and well talk more about that in a moment, but some of those concerns creeping back into what you see in the markets. If you are looking at the treasury market, the yield on the ten year right now is sitting just at about 0. 852 and the vix also spiking yesterday, probably a little bit on concerns about what happens as we go back into some of the lockdowns. The seesaw of good and bad news on covid. And well give you a bit of good news that happened overnight in the vaccine wars developed by the university of oxford and astrazeneca found to be safe. An
With us and brew Group Investment banker and nfl star jack brewer great to see you this morning. Thank you so much for swroining us here we are looking at futures which are lower this morning going into another week. This is an important week because were going to begin Third Quarter earnings give us a window into the economy and corporates dow and s p 500 trying to snap a threeweek losing streak, with all eye on the china trade meetings this week on thursday. The two sides expected to resume the negotiation thursday. Beijing reportedly ready to talk about a narrow focus deal. Narrower than weve been talking about with full scale reform of stroll sector off the table whats your deal given the fact that president has been adamant about industrial issues and the behavior of china particularly with the intellectual property . Market clearsly not liking it maria. I mean listen the pressure is on certainly hong kong is not getting any better an chinese economy isnt getting any better our ec
A couple of big stories this morning. Peloton pricing the ipo. Price tag at 29 a share raising about 1. 6 billion now valued at roughly 8. 1 billion makes about a billion in revenue but loses 245 million annually. Now under the ticker pton. The peloton ceo will join us live this morning. If you have questions sen them in peloton. 245 million in losses well talk about the math of that and where they see profits and what it all means. Does anyone know about the treadmill . I do. It is expensive. It is about 4,000 the bike is about 2,000 plus. I have one. The bike is quite a piece of equipment. It is heavy. It is really well made i just got one two weeks ago. You can have someone screaming at you you can go outside. It is there, all free. Eamon javers is with us the hardware is a highmargin product. Higher now than an iphone. It is the services and the investment and the media component costing them they are doing a lot of build outs is that recurring cost or eventually be built out . The
Julie a flip of yesterday where the doubt was the winner and the nasdaq the loser. Dow losing steam. Nasdaq points as the gains a half of 1 . Not recuperating all of the losses we saw yesterday. Making progress in that direction. In addition to the tax plan jockeying for position, we have ended your positioning and rotation we have been talking about. Lets look at the bloomberg to see what is up in what is down. Technology is the best performing group in the s p 500. Health care and financials also getting but not by nearly as much as with utilities and telecom the two worst performing groups over the course of the session. To emphasize the move in technology a little more, large cap, we are seeing some significant winners. Amazon, nvidia, alphabet trading higher. Amazon potentially getting a boost from stories out today. The wall street journal reporting big advertising firms plan to boost advertising spending on amazon between 40 and 100 next year. Amazon declined to comment for the
The u. S. Plans to relocate to relocate its embassy to jerusalem. Abbas has said to be warning trump of the dangers of the move. It would fulfill a Trump Campaign promise made by previous u. S. President s and set aside due to regional concerns. Both of whom claim the holy city as their capital. For more, we turn to marty shanker, bloombergs chief content are officer. This is a really dangerous part of the world. Is. T as you mentioned, previous president s have made this Campaign Commitments that step back from doing it because they thought it would interfere with the Peace Process. Now, donald trump appears to be on the filling that Campaign Promise but at great peril to the mideast Peace Process which he has held up as a main priority of his foreignpolicy. Shery threatening he will seek to mobilize World Leaders. How is that expected to go . Marty World Leaders have warned donald trump not just the regional powers, but our own allies in europe warning against the dangers of making s