Shery hello and welcome to daybreak asia coming down to asias major market opens. Haidi australia open for trade. Israel and hamas trade lame after a deadly explosion at a gaza hospital. President bidens summit is canceled. Asian stocks are set for mild gains and traders are awaiting thirdquarter gdp and monthly activity read nvidia warns of tighter u. S. Restrictions on ship sales to china. Lets get you to the start of trading in australia as sydney trade comes online. Again of 4 10 of 1 , particularly watching some of these minerals names. The haven deal to buy coal from mines operated by bhp, two names to watch as they come online. Modest upside in the first few minutes of trading. Watching the aussie dollar which saw a bump up when it comes to hawkish buyers. The low tolerance, inflation returning to targets. Michelle bullock speaking at a panel saying the Housing Market has surprised her amid the Inflation Expectations that the Global Economic paradigm that has not changed since t
Uranium etfs. Im Katie Greifeld in the york and welcome to bloomberg markets. You look at the board. A lot of green on the screen right now. S p 500 higher by. 4 . We are on track for a second straight week of gains. It feels like a while since we have seen that. You look at big tech. Currently higher by about. 6 . Your leader right now is the semiconductor industry. The Philadelphia Semiconductor index up about 120 on this friday 1. 8 on this friday. We have breaking Consumer Sentiment data crossing the terminal right now. Mike mckee joints with all the details. Michael i apologize. Its a nice friday and you are all in a good mood. The American People are not. We have a big drop in the university of michigans sentiment for the month of may. 67. 4, down from 77. 2. Current conditions fall to 68. 8 from 70. The outlook falls to 66. 5 from 76. The headline number is the lowest since last november. People are not very happy across the country. Coming up we will try to get more on that fro
Welcome to bloomberg markets. Green day across the screen. The s p 500 up and the nasdaq 100 2 higher on the day. Both indices down on the week but the earnings love it hitting the take and the two year yield 30 basis points and whipped sign for the week but below the 4. 80 level. The 10 year below 4. 50 on the day. Breaking ism Services Data crossing the terminal. We have bloombergs mike mckee with the details. Michael if you are trading on the economy slowing down, keep doing it. The ism Services Number comes below 50, the line that is supposed to demarcate between contraction and expanses. Services pmi 40 9. 4, lowest since december. A rebound on for the moment. Production at 50. 9 and new orders at 52 point two, both down a little from where they had been. Employment comes in at 45. 9, still below 50 and just confirms what we saw in the services and overall jobs numbers that we are not seeing a huge job gain in the recent months. The one thing Everyone Wants to look at, 59 point tw
Dani katie welcome to Bloomberg Markets. You look at markets at the moment and you can see there some green on the screen a high me. You can see the s p 500 currently up by about 3 10 of a percent. You look at big tech right now the nasdaq 100 even higher paid 4 10 of a percent. Small moves overall. A change in direction after a pretty rocky start. Taking a look at the Philadelphia Semiconductor index you can see that sleeving games right now. Lets get right to one of the big stories today and that is peloton. The Fitness Company announcing its ceo is stepping down after two years. Its also cutting 15 of staff as part of its restructuring efforts and among Bloomberg Technology joins us with more details and i hate to say this was a surprise what was your reaction . Ed the Market Action is a big surprise. We were climbing steady, session highs 18 . Took the resistance off. Speed and power now we are at a flat road. Completely flat on the stock. It is astonishing trading and the markets
Today . Is that one of the reasons that fed into i mean, maybe it was a close choice between meta and Something Else and todays selloff in meta boosted it to the top pick it is the reason we chose it. It was not on our list but we had to make a gametime adjustment because this opportunity presented itself to us i think that the selloff is somewhat overdone, considering Mark Zuckerbergs problems as seo, considering the strength of the business, the valuation is not stretched at all thats the first pick next up is steady eddie, eddie george tim, lets get your reaction to the first pick some game theory by karen pointing out yesterday or the day before, meta has outperformed the s p for good reason by probably almost 175 in the last year or so if you think about what we heard last year, the year of efficiency might be gone they talked about higher costs, downgraded q1 and q2 slightly in terms of the top line. That adds up to a company that has had an enormous outperformance if you asked i