Caroline bitcoin hits a fresh record since its peak in november 2021. We will have coverage of the market and those meme coins in the rush. Lets first check in on these markets. Bitcoin is up, but the rest of the market trying to digest some of the runup we have seen. We focus in on mixed Economic Data today. The u. S. Showing some Services Weakness and we look ahead to testimony from jay powell, his semiannual experience in terms of the politicians. What will the grilling mean . How much will he be reticent to say that they are looking at those rate cuts anytime soon . We are looking at 1. 8 down. I want to focus on what is happening in china, the tradenames in the United States with a Golden Dragon index, off by 1 as we see a Growth Perspective coming from china. How will they get there . That ultimately what is the debt they are going to be fueling in terms of the focus on a i, on technology coming from china . Not enough to buoy the stocks and chinese names. Looking at the 10year y
Be tested here, right . Sure are, right . I mean, weve been overbought in this market really since early february. I think that really we needed the catalyst. I think between the manufacturing numbers we started with and then on top of that oil and then we have gold prices up and then, you know, we have an economy that is strong. And i think the narrative around how many times the fed is going to cut rates or lack of is really going to cause the market to rethink certain sectors and certain securities that were really banking on rates cutting to make them go higher for the rest of the year. I think were at a crossroads. You know, josh, chris ferrone, the title is raising our guard. He says the push in yields right back to the key 4. 5 level is important. The persistence from gold, were inclined to tactically raise our guard particularly given a play sent sentiment backdrop. Do you agree with that . I do. You know, last week last week there had been some really classic indicators that t
Plus alphabet and meta are in talks with Hollywood Studios. Canva takes on adobe users. Lets get a check on the markets. Lots of green on the screen. A nice way to end the week. The nasdaq tech heavy, the semiconductor index, both rebounding, moving higher after inflations expert patient Inflation Expectations data made us feel more comfortable with rate cuts. We are going to talk about this throughout the program. It is down one percentage point but on track to have its best week in a year. Lots to discuss with the potential of spot etfs with sonali basak. Lets go to the private markets. Bloomberg is reporting spacex is considering an offer that would value the company at 200 million. That is where a company allows staff, employees, and some early investors to sell the shares they already own, existing shares, to outside investors. The price is set by elon musk, the cfo, and a lead outside investor. We are hearing the price could be up to 110. You do the math and that would be a jump
Institutional investors. Black rock, hamilton, and others. Black rock, hamilton, and others. Matt thanks to an amazingly generous policy, here at bloomberg lp i have been on paternity leave for the past six months. I thought it would be interesting to look at what fidler has done over that same time. No surprise, it has absolutely soared. Up 70 . I get a lot of fun for that. But, there is an l. Trading volume as well. At least in terms of name, symbol, logo. Crypto token and the Company Going from nearly zero to almost two cents. Thats a lot. Sonali it is. We will discuss it with a reporter who reported on this. What happened this week . The names the same but are not actually affiliated with the projects or companies. In that case, if you were looking at the gmc token you just had on screen, even if you bought right before the token jumped when the tweeter came out monday you would still be up compared to what people are getting in shares. Matt it seems to be worth more than it should
Significant green arrows. It looks like the dow futures are indicated up by over 160 points. Nasdaq futures indicated up by 115. S p futures are up 27. Of course, this is coming after a rough week last week. You are now talking about the s p on track for the worst month since december of 2022. You have the s p back be low 5,000. We are watching this closely. This has all been happening with treasury yields picking up. You will see it looks like the tenyear note is all the way up to 4. 658 . Twoyear note at 5 . This is a significant run in the bond yields and thats been responsible for the april pullback we have seen in stocks. The april pullback has been responsible for erasing the gains for the First Quarter of the year. We saw the highs on march 28th. You are talking about the s p at 5. 5 from the record close. We have been watching crude oil prices which has been picking up on concerns in the middle east. You see it is down 31 cents for wti. Lets look at bitcoin as well after the cr