We got this weak Gross Domestic Product number, just 1. 6 growth anemic and a surging inflation number connected to the gdp up 3. 7 . Bad combo. Which is why the dow tumbled 375 points s p lost. 46 . Nasdaq dropped. 64 . Ive got to tell you it was much uglier at one point today. The dow was down almost double where it went out. As we heard all day about the Slower Growth and higher inflation and that meant the dreaded term stagflation and that environment is toxic for stocks the house of pain on top of that one of the markets greatest leaders Meta Platforms got crushed today. I mean, just annihilated not because of its earnings which were stellar but because it committed a huge amount of spending most of it directed toward generative Artificial Intelligence whats bad for the meta goose, though, is good for the nvidia and broadcom gander, which is up 29 points and 37 points respectively as theyre going to get a huge chunk of Capital Expenditure budget i still believe in meta, more on th
In the works on the back of surging copper demand. Later, the white house announces another multibillion dollar award to another giant. Its thursday, april 25th, 2024 and are you watching Worldwide Exchange. Good morning thank you to much for being with us before we get start ed, a quick news alert the Biden Administration announcing a 6. 1 billion Funding Agreement with micron under the chips and sciences act. The deal will be in support of the construction of the facilities in new york and idaho. Micron investing 125 billion into the projects. President biden will be in syracuse, new york today we will have more this later in the hour look at micron shares down over. 13 . Turning back to the trading day ahead and the check of the futures after a mixed session for stocks dow snapped the foursession win streak and you can see all three are in the red this morning nasdaq is down 1 . The s p down. 50 . You see the dow looking like it would open over 100 points lower. Of course, the big s
The stories that set your agenda. 100 dollars a barrel march continues as the u. S. Oil benchmark its a oneyear height with stockpiles and hitting one year at levels and fears around and inflation uptick are growing. Especially in asia where stocks are under pressure. On the docket german and spanish inflation data, one more puzzle piece on what the ecbs move might be on when traders bet on a rate cut next july. Plus italy plans to bring its budget deficit below the limit set by the eu but only in 2020 six. The delay risks a confrontation with brussels. A lot of a cross currency air. A lot of different market pressures lets get a quick check on the market futures because like i said you are seeing a pullback in those asian equities. A lot of pain in the nikkei and the hang seng. We will get to that in a moment but futures indicating that that is not a global story just yet. The underperformer of the board will be euro stocks, 50 futures really unchanged. I would not call this a big mov
Where the hype is too great like when a goat was riding a s surfboard with a gopro on his head nine years ago. It was about to reach the high 90s before falling to the single digit within a year and a half. But to put it in my terms it jumped the shark. The dui advanced 87. The nasdaq where all the stuff is jumped 1. 14 . Actually i have to tell you its a big reason im out in the sa salesforce conference billing itself as the Worlds Largest a. I. Fast tool. When will Companies Stop rolling out these stories to prop up stocks. When i saw the gopro on the surfboard i called the top and prepared to do the same thing with a. I. If i have to because the promotion machine may have gone haywire. When i heard about how cocacola is launching a new drink codeveloped with the y3000. Maybe it tastes great but when you see it hyped from cocacola maybe were on legitimate use cases because this is not a consumer or gented technology. Ill never argue with the ceo of nvidia. He was talking about how a.
Where the hype is too great like when a goat was riding a s surfboard with a gopro on his head nine years ago. It was about to reach the high 90s before falling to the single digit within a year and a half. But to put it in my terms it jumped the shark. The dui advanced 87. The nasdaq where all the stuff is jumped 1. 14 . Actually i have to tell you its a big reason im out in the sa salesforce conference billing itself as the Worlds Largest a. I. Fast tool. When will Companies Stop rolling out these stories to prop up stocks. When i saw the gopro on the surfboard i called the top and prepared to do the same thing with a. I. If i have to because the promotion machine may have gone haywire. When i heard about how cocacola is launching a new drink codeveloped with the y3000. Maybe it tastes great but when you see it hyped from cocacola maybe were on legitimate use cases because this is not a consumer or gented technology. Ill never argue with the ceo of nvidia. He was talking about how a.