S p shed 8. 3 . Although we were down a lot more earlier in the session you say i got to say its about darn time hallelujah things have gotten too easy. How do i know . Because the uber driver was make together much on tesla because the shoe shine men have finally picked a winner, and that winner was amd. Because these moves have gotten way to too crazy, and they had to stop. In end, even the saint Virgin Galactic, it was felled. Yep, they even got to space, symbol spce. Or spice, as i like to call it look, all selloffs are not created equal. Some are a lot worse than others this is not a slash and burn selloff its more like the kind of pruning you do to trees that are too new the power lines. Sure it looks ghastly chen theyre done with the wood chipper, but it beats the alternative which is a california style wildfire. I like the market because when trees grow back, hopefully they grow back stronger, slower, steadier still was an odd day for the market to take a dive. There was a lot
Also take a look at whats happening in the treasury market 10year is yielding 1. 816 counting zeros here four commons 12 zeros Google Parent Company alphabet now has 12 zeros, also four commas becoming the fourth u. S. Tech company to reach a 1 trillion valuation joining apple, microsoft and amazon, amazon has since dipped below that mark cramer last night talking about another member is microsoft. Weighing in on the controversy on apple and how much it should aid Law Enforcement by opening locked e locked iphones or maybe creating a backdoor for Law Enforcement you cannot be cool. You have to be cool on your own. You have to take pride on the digital capability you have built. No press release with us or anyone else will do it you will need to build your dig call capability and by the way trust. There is a conversation about privacy already. We have to engender the trust. You as retailers are the keepers of the most important data you have to build trust. Whether importance or privacy
Is looking to perform, so that has the stock nice and higher today. Of most him course of Molson Coors Brewing is leaving, the ceo be replaced by of miller coors. We want to know if the fomc can thread the needle . What does he need to get done today . Guest the first thing is 25 basis points. Everybody knows that if he doesnt cut 25, hes got a credibility problem in the markets. 25 is done. I think youd like to do 50. He and others have given indication that if youre going to do something at this point in just come its really at this level of rates, you need to go big. Weve had reasonably stable sobers from the economy, hed have a hard time getting the hawks. What it comes down to really is anything, he if announces on the Balance Sheet, and what he announces Going Forward. Guy expectations are dovish Going Forward from here. Got four rate cuts priced in at the moment. Is that too much how does he find himself some breathing room is that too much . How does he find himself some room .
Ahead of the open on the unexpected and welcome profit beat. Getting set for the latest on Consumer Prices and what it could mean for the fed decision next week. Its friday, april 26th, 2024. Youre watching Worldwide Exchange right here on cnbc good morning and welcome to Worldwide Exchange. Were coming to you live from cnbc london. Thank you for being with us on friday morning lets kickoff the check after whipsaw action yesterday with the major averages closing off session lows offer the weaker than expected gdp print and what was the busiest day of the First Quarter earnings season. Look at the beats. You see they are in the green. Nasdaq up 1 the dow looking like they would open 60 points higher. S p up. 75 . The big story is big tech led by alphabet and what you could call a triple crown Earnings Report First Quarter revenue and net income ahead of estimates. 17 billion in Free Cash Flow announcing the Quarterly Dividend and 70 billion Share Buyback program. The stock is popping af
Strong results. Caroline jeff bezos and andy jassy deleting chaps amid an antitrust probe. Lets check in on these markets. This is a macro picture on the day and some earnings galvanizing a drive higher. Nasdaq up more than 2 then. We see the core pce that the fed so loves coming in line. We are not calling, but we are not exceeding expectations. The market is relieved and we are seeing about of good, healthy increase in certain stocks. A 10 year yield dives down onto the back of that pce number. Even though we see bonds indeed rallying coming yields falling lower, the dollar still resilient against the japanese yen. Will we see intervention from the boj . Moving on, have a look at what it is doing against bitcoin. Dollar strength against bitcoin. Crypto on the downside. Ed it is all about earnings. Intel is off session lows. And just a moment, ian king will give us the numbers and then we will speak to the intel ceo. Microsoft and alphabet are all about cloud growth driven by ai produ