I mentioned yields the tenyear hitting its highest level since last october earlier today. Retail sales coming in better than expected. How about the atlanta fed taking gdp and its forecast up to a stunning 5 believe it or not. It brings us to our talk of the tape how vulnerable are stocks right now . Adam parker is ta cnbc contributor. Do you feel like stocks are vulnerable its been a rocky couple of weeks, especially for tech what do you think . The earnings season was, i thought, pretty good. Better than feared. The big cap tech stocks, 2024 earns are higher than they were on july 1. I think the fundamentals from the Companies Look okay. I think whats happening is a fear of a perception about Interest Rates and how that means people will probably not want to pay as high of a multiple as they did a month or two ago. You talked about rates backing up for a long time the relationship between the perception about rates and the pricetoearnings ratio was very strong. It kind of broke in m
Of cloud cover, and the rain looks to be very isolated and scattered as we look at live doppler seven. The activity is in extreme northern california, but theres a couple systems offshore that will be visiting us the next couple of days. So its a cloudy start and its going to be some isolated showers that were going to be looking for throughout the day today. Over the weekend, though, the rain increases into your sunday, it will get quite gusty out there and the highest totals will be in the north bay. Right now it is milder out there, 52 in hayward, 53 in oakland compared to yesterday, some 40 inland, 44 in livermore, 46 in santa rosa. And that makes us anywhere from about 5 to 11 degrees warmer this morning. So look outside from our roof camera where well have plenty of clouds today, some isolated showers. Its a cooler afternoon with highs in the 60s. Yesterday we saw a few low 70s up in the north bay and by sunday well be tracking more rain. Ill detail that for you and talk about to
In favor of toronto. Washington ended up losing 1 4. In the Continental Hockey League , moscow spartak continues to rewrite club records. The day before, the red and white won their ninth victory in a row. This time we won in khabarovsk against amur 4 1. The best scorer and the best sniper of the season scored another goal of the season into an empty net. Khl nikolay goldobin. Alexey zhamnovs team strengthened its leadership in the western conference and in the summary table of the entire kgl. In the Champions League, the first game day of the third round in group b took place, sevilla played against arsenal. Cool goals in each half put arsenal back on track to winning the Champions League. Gabriel martenelli opened the scoring shortly before the break, after a superb pass from gabriel jesus, who in turn scored in the second half, turned out to be a beautiful goal into the top corner. Attention guddel reduced the hosts gap with a header, but no more, arsenal took three points in spain
Guests, and nice to see you. Thank you for joining us. Thank you. Lets check the markets now you know the story the nasdaq is where the bulk of the damage is. Down near 2 a loss of 236 points yields are very much the story today as well. Backing up yet again toward 5 there is 491 the tenyear note yield. However, i want to start with microsoft. That is the story today or certainly one of the stories at least the positive story today as your cloud Revenue Growth accelerating for the first time in a couple years because of ai, you own the stock. Give me your take. Its good we saw Cloud Services growth back up 28 which was the expectation i had on monday. That is where it needed to be. But overall the impact of what we expected from microsoft on the market, itself, its ability to stabilize the market, it obviously is not present and the reason its not present is these stocks are called the magnificent 7. Now were down to the magnificent 5. Weve lost tesla, lost alphabet. Well get into the
Said dont worry about it. Its all going to work out talk about a punt. That young man deserves better you know what . You deserve better so let me give you some answers about what can turn this darn thing around for real after a hideous day. Dow only 105, only but the nasdaq plummeted a bone crushing 2. 43 the house of pain thats awful. Look, as i tried to say last night, this is not a good market i know you dont need a weatherman to tell you which way the wind blows think about yesterday. I tried to say everything good right now is merely a trade because stocks have become divorced momentarily from the fundamentals of individual companies. A bunch of bigname stocks who rallied on good earnings yesterday, not because of the results, but because they reported on a day when Interest Rates, they sure werent today, they shot up like a darn musket. Rates should not be tame Interest Rates should and are going higher we have too much bond supply too, many sellers, and too much hot Economic Da