And a thousand times a day without thinking about it. At least thats how it feels right now. The inevitability of this outbreak is starting to sink in. What does the fed do it gives us a rate cut a 50 basis point rate cut. Reaction hey, condition rate cut. And it was a resounding texas hud. Ultimately the dow fell 786 points and 2. 189 so why did we get that illnesses, cancellations and this epidemic and im beginning to feel just in what has just been cancelled the emails that i get and the notes from Different Companies that is a shutdown it doesnt change that its not a cure. Its not a hazmat suit or respirator it does absolutely nothing to impact the spread of the virus it somehow boosts Business Confidence i did care about the rate cut. I cared about how wrong it was its totally a sign of the panic from the fed. And a rate cut i say this as someone thats been addiment that easy money is a good thing im probably the biggest single proponent of lower Interest Rates on the entire spect
Sometimes the glass shrinking a half full vessel look like it is overflowing and this is where we areright now and this, after todays session dow closed flat, s p up 6 and nasdaq up. And lets start with the thing that we all know which is the half full half empty this morning disney launched the new streaming service diocese plus and immediately overwhelmed with traffic and started having outages even though management assured us the technology was solid on the Conference Call last week. We were told they tested the system in the netherlands which must be a new worldwide peoria but it reminds me of hamsterdam. They botched the roll out of a promising new service but the Glass Half Full people think differently. Sure the site crashed but that is because there was so much demand and traffic diocese vetted this platform for millions of people and that wasnt enough. It is not hard to believe it has so much great content that it caused a stampede of subscribers. In reality both are right. B
Important. Stoxx 600 risk rally beginning to fade. Definitely off of session highs, approaching session lows. Stocks still appear to be relied risk on appear to be largely risk on. Bond markets also not sending that signal. Btps moving lower another two basis points. Different signals coming from different asset classes. The spread is not particularly big, but i think it is worth paying attention to. Vonnie that person i was speaking of is from pimco. Home depot falling after it cut its growth forecast for the rest of the year. Similar story to kohls. Reaction now on whether he thinks the American Consumer is actually going to tip things over here in the u. S. And globally. He is pimcos Global Economic advisor. He joins us from california. Should we be worried about the u. S. Consumer . Guest i think we should be. The consumer is always the last shoe to drop. It has been holding up pretty well. The rest of the economy has slowed sharply. Manufacturing is in recession. Companies have cu
We spent too much. Im disgusted by it but it is what is and democrats dont think it is the problem and the fed will bring money, this isnt anything new. Weve never known a situation like this where the political calendar and a litigation calendar mary up like this. No one knows. China is provoking dangerous intercepts. One of them could lead to combat. What can we trust about this government . This should never happen in this country. This is dangerous. It has transcended something that means that something is not right. Stuart shania, it is a nice upbeat song. Here we go. It is friday august 4th. On the market, nice again for the dow, up 200. It is up 91, green for their. They are all up except for apple which is sharply lower, disappointing Earnings Report yesterday, down 3 . Amazon powering ahead 11 . Microsoft is up one. 6 for alphabet and smaller gain from meta but they are up, apple down. Show me the yield on the 10 year treasury, it is going down. 418, first thing this morning,
Daniels in our wall street week daily segment. Katie welcome to bloomberg markets. Take a look at markets on this monday morning and there is green on the screen behind me. The s p 500 currently higher by about 8 10 of 1 after two straight weeks of losses. It is the same thing if you take a look at big tech, the nasdaq 100 also up about 8 10 of 1 even though you have tesla and apple on the back foot this morning. Take a look at the bond market and that selloff is continuing to build momentum. 10 year yields almost 11 basis points. We are talking about a 4. 6 to handle when it comes to that 10year treasury yield and that is because of course we got more ecodata this morning and like weve seen, it was very hot. We are going to talk about that a little bit later but lets talk about one stock we are watching this morning, Goldman Sachs. The Bank Reporting that revenue beats across the board, shares are flying right now. For more, we are joined by sonali basak. Give us the rundown because t