Highs right now seeing the dow up fractionally. The s p up almost half a percent. The nasdaq even better than that. Not shown the small caps, doing better than all three. I really think thats where we have to begin. Not the small caps, steve weiss. Are you going to stick with mega cap tech, keep this train rolling, or is now the time to take profits and broaden out the thesis . I did shave a little bit of meta, but, you know, i dont look at it that way. I look at whats reliable, whats predictable cash flow, assuming they have it. And what am i happy in owning. I will leave dell for later. Its not normal to have the market go up every day on a relatively narrow move. There are other things working. Ill leave jim to talk about those can i push back . Are there other things working . Hold on, i will show a graphic. We have a great data team at cnc cnbc. The s p gains, 57 coming from the fantastic four. 32 coming from nvidia alone. So, yes, some other things may be working, but the majorit
Downside. A big piece of the story you are seeing on your screen is the oil market. Were watching was happening in oil, it is pulling back as russia and saudi arabia extend their supply cuts until the end of the year. Yields on the twoyear and the ten year also climbing for the second day and a row. What you need to know, that is coming up. Taking a look at european markets right now, as you can see we have a few things going on in the european markets. They are on the reds, cac 40 is down, the taxes lower, not to each overnight. A mixed bag chinese real estate giant evergrande stock jumping 70 after developer Country Gardens managed to avoid default over there. As you can see a mixed story but the shanghai are actually in the green. Here at home democrats are voicing concerns about President Bidens electability as he faces criticism on the economy and worries about his age. New accusations of playing politics between ron desantis and Vivek Ramaswamy as voters watch the race for the go
Different kind of fed narrative evolve this year. There has been some rising angst but still some cuts are on the table. There is a little bit of froth and maybe it is deserved as you see powell shipped his narrative to things that allow him to cut. The important thing is that the fed and markets are nsync after being out of sync. The fed has actually been a lot more optimistic about rate cuts over the last few years. Announcer this is bloomberg surveillance with jonathan ferro, Lisa Abramowicz and annmarie hordern. Jonathan the third hour of surveillance begins right now. Live from new york city this morning, good morning. For our audience worldwide, this is bloomberg surveillance. Your equity market and little bit softer, the headlines are solidly elsewhere. Can year yield vent new highs for 2024 and reflecting on the data yesterday, strong upside surprises for u. S. Manufacturing. One question weve all got, doesnt derail the prospect of rate cuts any time soon from the Federal Reser
Even below analyst estimates. The stock is now down more than 30 this year. But we begin with todays markets, and dom chu with the numbers. Dom, it is tech taking it on the chin. It is. Its Consumer Discretionary particularly because of that tesla trade. Check out the dow industrials down by about 450 points, 1 drop. It was down over 500 at one point today. The s p 500 is at 5198, down 45 points. Almost one full percent. At the highs, we were down 39 points and 59 at the lows. A decidedly negative day. Tesla is a big part of that story. The nasdaq, down 177 points, 16,219 the last trade there. That Consumer Discretionary trade, one of the worst performers in terms of sectors today, but not all entirely tesla. If you check out pbh corps, its not in the s p 500, but it gave a fullyear forecast that game in below estimates. Its down 23 . But the ripple effects are happening to vf corps, tapestry, ralph lauren and deckers, all of those consumer apparel type names are in the s p 500. Down 4
Rising faster than inflation. But have you seen the cost of fuel . Well be discussing all that and more. Fuel . Well be discussing all that and more. You can get in that and more. You can get in touch in the usual way. Gb views. Gbnews. Com. Or why not tweet me at gb news. But first, lets get your latest news headunes. Lets get your latest News Headlines. Good afternoon. Headlines. Good afternoon. Its minute past three. Im Aaron Armstrong in the gb newsroom. A british teenager whos been missing since last weekends attacks by hamas has been confirmed dead. 13 year old yahel on the right of the picture was killed when gunmen attacked her kibbutz on the 7th of october. Yael was killed along with her mother, leanne , along with her mother, leanne, while her elder sister, noya and their father, eli, are still missing. The Prime Minister has called for the Immediate Release of hostages. Its thought a further nine britons are amongst some 200 people being held by hamas. The israeli journalist