With joanne hsu in just a moment, and an oil rally underway. We will see how much risk you should take on into a weekend of uncertainty. Im alix steel, with my cohost in london, died guy johnson. Guy it drops onto our bloomberg terminals the headline number, 63 point zero, down from 68. 1. That is a substantial miss. 66. 7, a big drop. One year inflation wow one year inflation rises to 3. 8 , up from 3. 2 , and we have verizon the five to 10 as well. I wonder if that is gasoline prices, but Inflation Expectations are rising. That is not a good cocktail heading into the weekend. Alix no, that is not great at all. The bond market giving up some of the gains we saw on the treasury market on the frontend, so yields down by two basis points now, but equities are going nowhere yet. This is not a great read for how consumers are feeling. Guy jamie dimon warning on the call, talking about the facts that the consumer is working through the excess savings. We have been talking about that for a w
Countless unarmed Israeli Citizens being massacred. How the heck could we rally with the dow gaining and the nasdaq advancing 0. 39 . Maybe it is because there seemed to be no direct consequence for the united states. Maybe it is because we are desensitized after the war in ukraine and russia. We treaded low all morning. Then in early afternoon we started rallying. Why . Because fed board of governors vice chair Phillip Jefferson made dovish comments that immediately pushed stocks higher. He told us the fed is, quote, in a position to proceed carefully in additional firming that may be necessary. Jefferson then continued, quote, we are in a sensitive period of Risk Management where we have to balance the risk of not tightening enough against the risk of being too restrictive, end quote. Previously the fed was worried about tightening too little. The rate hikes might be on hold for a little. It was that statement, not the horrific slaughter in israel that controlled todays action. It is
It wasnt done tightening. Then we had some banks collapse in march. Then we stopped worried about the fed because we figured the economy had it. That led to a wholesale shift into tech. A multimonth run into tech, especially the magnificent seven. So the consumer situation coming together now after weeks upon weeks of pain . That may be what we saw today. The nasdaq jumping 1. 35 . It was a total shakeoff of the endless selling. It didnt happen until later in the afternoon. It is hard to believe the system can repeat itself, i have to say the setup is very similar, even if the starting point is different. We had a replay from march where recession from demand destruction overwhelmed those by inflation or spiral growth that seemed impervious to all the fed rate hikes. Maybe it is the start of something bigger. Hey. Come on. After what we have been through, a few hours of larger prices looms larger than it should. To give you some connect here, lets rewind to spring. We had the collapse
Fourth quarter is underway but investors are facing a wall of worry. But so far the script hasnt changed. Growth stocks higher, bond yields in orbit. Confusion. Were trying to tackle this. Weve got the issues facing with us and wonder if it is happening during the calendar. Well break it down. Blackrocks larry fink is not helping the situation. He says he sees more fear than anytime. Anytime . Why these billionaire masters of the universe expressing fear . Im not sure that is how they got filthy rich. Tweet me cvpayne. Are you buying that . The modern day scab, worse than toads and vampires combined. I will explain that later in the show in my take. All that and more on making money. Charles all right, so we can put a Government Shutdown on the backburner. Lets face it, despite the hype nobody really cared, nobody on wall street really cared about that instead i have the list here of the top concerns for investors. Here is what is interesting. Recession last month came in a little bit
The week. Today we bounce a little. Commerzbank up. Puma bouncing on the back of nike. Alix i acknowledge you said nike. Nike is up 7 . Inventory story. They have to discount less to get inventory off shelves. It is still a topline risk. Are you still spending money . It held up in august. Loan payments coming due. Carnival stock down 5 . They turned a profit last quarter for the First Time Since 20 but fuel prices put a dampening view on their outlook for the fourth. Thats a trend. S p up, nothing to see. 10 year yield down by 4. We settle out thirdquarter. What kind of volatility will we see when there is uncertainty in the market . Guy topline numbers, some of the indices in europe. In some ways they dont tell the narrative of the whippy action below the surface. Huge rotation. Stoxx 600 only down 1. 2 . Goa layer lower and you see a huge move to energy and out of luxury stocks. Those names later on. Significant rotation within the market. Headline level not much different. Real mov