Right now, there is nothing that is earthmoving. That is a great way to lead off the show. I have unbelievable stuff. Okay. Lets get to our road map this morning. It does start with apples ev aboutface, reportedly abandoning its decadeslong efforts to develop an automobile, turning its focus to generative a. I. Shares have underperformed so far this year. Continued signs of a robust economy, healthy Consumer Spending certainly one reason why and goldmans ceo thinks a soft landing is uncertain. And the doj turning its focus to Health Insurance. It is launching an antitrust investigation of the giant. Unh. Unh is really under siege. Its a Great American company. Its under siege like almost no other between the hack and the Justice Department. Well talk about that. That said, its doing pretty well for a company under siege. Lets talk about another company thats done pretty darn well for a very long period of time. That is apple. Of course, youve seen these published reports. Any number of
Of innovation. We hear from the microsoft ceo as their conference builds off. Actress Scarlett Johansson back against openai in the eerily similar voice. All of that and so much more ahead. We want to keep the record highs going. The nasdaq turns flats. Pushing forward to whats happening in crypto. We will get back to the major benchmarks in a moment but crypto has been a key story. All i shifting from what we saw was a spot bitcoin etf to potentially a spot eth etf. The nasdaq trading into positive territory. We are at a new record high for the s p. Not so for the stoxx 600 but all eyes focused on fed talk. Raphael bostic still trying to analyze the data. We are seeing whats happening with the 10 year yield. May be a bit of buying into the bond market right now as we push forward to whats happening in earnings. Lets have a look at some of the individual movers. Palo Alto Networks coming off its lows. Cybersecurity company posting revenue that is 11 15 growth on a year on year basis, t
Im melissa lee, coming to you live from studio b at the nasdaq we start off with a sharp reversal in shares of jpmorgan today. The big bank hitting an alltime early in the session, but taking a tumble midday. The drop coming off Ceo Jamie Dimon said this at the companys investor day i think were in a very good position to continue to invest in our future, and were not going to buy back stock now. Share buybacks have been a big driver for stocks this year. Look at the gains in alphabet and apple since the Companies Announced massive repurchase plans. But with stocks at alltime highs, the nasdaq posting a record close today the dow setting a new intraday before pulling back. Have valuations gotten ahead of themselves if jamie dimon is not buying at these levels, the question is, should you why are you laughing already you read my mind. Im thinking to myself, if hes not buying, why should you mouthing it but the reversal today is very interesting. Yeah. Noa lot of volume, this reversal mo
Bearish strategist has finally capitulated. It is nvidias week. Four analysts upping their targets ahead of results on wednesday. And apple reportedly edly slash iphone prices to count huawei. A historic week for stocks, jim. We got to 40k, we hosted 11 on the vix, but just barely, but we did. People are stalki talking ab stock market. For the long time, they talked about my tomatoes. And then say, wow, what is that about . People who have not been in. People who are thinking, is it too late . I try to present a constructive view. But its gotten in peoples minds, carl, and also numbers from gallop last week who said 62 of the people are back. Someone in their house owns stocks. Thats up from 52. Which was interesting. 52 was the low, which is just when the dow got back to where it was before 2007. So, you had 2007, people got back to even and they left. And now genz, gen x back. Millennials back. Boomers i think just blown out and dont rely. And its quite encouraging, because if we can
Pyongyang attack. Pyongyang has dismissed those allegations. Global news 24 hours a day powered by more than 2700 journalists and analysts. This is bloomberg. Bloomberg technology is next. Im emily chang and this is Bloomberg Technology. After a killer year for tech stocks, will the sector become a victim of its own success . Cryptocurrency is fueling record gains of littleknown companies. Victim of its own success . We will discuss. Amazon can outdo its own monster year. While americas ecommerce came could be on track to becoming the first u. S. Retailer to sell 1 trillion worth of products and services. First, u. S. Stocks finished with the tech heavy nasdaq having its worst day in two even as tax reform is pending. At one point, apple was one of the biggest point drives in all three of the major averages. Abigail doolittle joins us from new york. What is happening with apple . Abigail it really stood out. Apple down more than 1 on the day, on a rare downgrade. It was downgraded to b