Of europe. Early on, we saw the autos up more. 1. 36 ,os are only up 1. 42 . The german tenyear now catching a bit as well, negative 0. 44. David from Credit Suisse is going to be joining us to give us his technical picture about what is happening here. He is certainly very interested in how the markets close at the end of the week. David is coming up from Credit Suisse, the head of ta at Credit Suisse. That will come up at roughly half past the hour. ÷bthe u. K. Story today, very g. We are watching very carefully as the data comes in. Is it worse than anticipated . Today, a little bit. That was certainly the gdp weed. Basically, we wiped out 18 years of growth in the month of april. The new of england, governor of the bank of england andrew bailey, has just done a poll interview. What play a clip of that, the governor has to say. There is question about how much longterm damage that will be and that is what we have to be focused on because that is where jobs get lost and where damag
Anything and i have nothing to add to that. Because that seems absolutely positively correct the fed will keep rates unchanged and possibly have a message that they are kind of encouraging inflation to go higher one of the most important statements that i think has gotten less play than it should is jay powell said in late october we would have to see rise inflation persistent to consider raising Interest Rates to fight inflation so the fed wants inflation to be higher actually. And theyve contextualized this by saying 2 was our target for many years and we fell short and now we need to fill the gap of which makes no sense to me whatsoever i think it is cover for wanting Interest Rates to basically be below the inflation rate which is the game planner for central bangs and developed countries really around the world and so now we have the tenyear treasury yield and the core cpi is up higher than 2 and yet the Interest Rates are kept below that so foed knows that we have a det roche in
Markets. Stocks are hovering slightly, a mixed bag. Dow is slightly higher, up. 2 s p 500 is down. 2 , and had nasdaq down by. 6 its the defensive sectors leading the way today. Real estate, health care, consumer staples, which by the way, hit a fresh alltime high today. Tyler. Thank you very much, melissa. The big story were watching is what will the fed do and how will the markets react we have been talking about it for weeks, maybe months now. Were less than 48 hours away from one of the most anticipated fed meetings maybe ever. Steve liesman will be there to bring us the news, but hes here now to bring us some analysis. Steve. I think the context for what youre saying, tyler, is the fed is meeting under extraordinary circumstances with markets screaming for a rate cut, and unprecedented political pressure from the president of the United States in fact, with the fed on the verge of giving the president the rate cut hes campaigned for for months, the president tweeting out this morn
Jonathan for our audience worldwide, this is bloomberg surveillance. Your equity for our audience worldwide, this is bloomberg surveillance. Your equity market 0. 3 . Jackson how starts from now, a week from today starts from nowa week from today chairman powell speak. Lisa how much will he lean into the section. We will have highwe will have hg but not raise rates higher in the short term. Cuts are not in the threshold. Jonathan 5 5 world, on this d market we start with consensus behind the move of the past month. Consensus behind the move of the past month. Lisa now it is time to buy and save but still, this to me is the ultimate question. Will the fed not raise further but raise further but they will hold them straight for a longer time . Aside good or bad news . It has driven of concerns about inflation and deficit. About inflation and deficit. Jonathan and then you have china, what a week for the second biggest economy. Theyve been delivering fixes with currency. Based on the repo
The value of all publiclytraded stocks has gone up by 10 trillion in the last 122 months. That is a Wealth Creation machine like no other, and theres no pullback this morning. The dow can, its getting close to 40,000, real close actually, its going to be not much change to start the day. Same with the s p and the nasdaq is up a point. A tiny bit of green after yesterdays record closes. As for Interest Rates, well, theyre staying at lower levels. Well start with the 10year treasury, youre down to 4. 35 this morning and the 2career, thats a long way below 5 , 4. 77 right now. Bitcoin on the upside today, 66,000. Gold Holding Around 2300, 2400, 2383, to be precise. Oil still below 80 a barrel, 79. 34. No change for gas. Regular, 3. 60. Diesel is down one cent, 3. 92. Politics. The new fox Poll Shows Trump Holding a narrow lead overall, but he has a growing lead with key voting groups. Blacks, hispanic, suburban women and moderates. More detail emerging about the two candidates the two deb