Equities have referred pain from the bond mark all week. Today was no different until a Late Afternoon rally broke the pains vice grip with the dow only gaining 45 points, s p advancing, and nasdaq climbing 4. 2 . A pretty nice day for the bulls in the end. What exactly has been happening here. We have a combination of weird data. Meaning that rates keep going down, whether we have positive data or not. Any good data shoo send rates shooting up, people. In inflation data thats shot should be sending rates up. The paradox,s epicenter of the injury is referring pain to the stock market, some sort of bizarre feedback loop. Bonds are saying the economy is weak, so therefore stock market traders are saying all stocks must be doing weak. All Companies Must be doing weak. The bond market is never wrong. Hey, listen, it makes no sense, except when you consider that so many people trade etfs these days rather than individual stocks. The etfs create a gravitational pull that can drag down any st
Good morning, everybody. Youre watching Market Makers. I am Erik Schatzker. And i am Stephanie Ruhle live at Deutsche Bank. It seems like bloomberg does not want to you and i to reunite. You were on location all last week. I am on location today. I promise it is worth it. Earlier i sat down with the ceo who gave me his recipe of having happy bakers happy bankers. How do you have a happy banker in a country with a socialist president . He claims he knows a way to do it. Remember they just had a massive Capital Raise. Unlike barclays this retrenching is getting away from those capital intensive businesses like fixed income. That 8 billion. We will find out exactly where. I cant wait to see you talk to your former boss. I cant wait to see you. I think i brought some of my former 360 reviews. I am a forger amy i am a mer which the alumni former Deutsche Bank alumni. As you know it is time for the newsfeed. These are the top is in the stores around the world. Top business stories around the
Eastern time, italian unemployment 37year high and more signs of euro zone reflation. Shopper trak out with the first wide scale read on the Holiday Shopping season and its a mixed picture for november and december, instore foot traffic at the nations retailers fell 14. 6 compared to the year prior but instore sales grew at 2. 7 . Slightly hopper than what shoppertrak had forecast. The main reason for the traffic plunge they say is that. Shoers are making fewer store visits than in the past because most window shopping and browsing is done online ahead of time, so the shoppers that are making the Shopping Trips are going with intended purchases in mind. Black friday was indeed the strongest day for brick and mortar retailers both for sales and traffic. Then there was a large lull until the lastminute panic kicked in. The week ending december 28th accounted for four of the top ten sales and traffic days for the entire Holiday Season. When it comes to categories shoppertrak says electron
Of massive overvaluation masks what can only be described as the wholesale destruction of the bubbles already right before our eyes. In fact, today was the first day in ages that the beaten down bubbles didnt get stomped on. Dow climbing 112 points and the nasdaq, the home of the deflated bubble, skyrocketing 1. 77 . After a prolonged period of underperformance when the bubbles were being popped. We got to wade into this bubble debate. Lets first talk about the prevailing. Hardly a day goes by where we dont hear criticism about the inflating bubbles of technology and biotech. Were told that companies are being valued at outrageous levels not unlike the year 2000. And it all has to end in tiers for every stock as it did back then. Theres only one tiny problem. The bubble has been popping for months maybe the critics havent noticed. Today was a reprieve from the relentless deflation and even though it will hasten another round of bubble talk the stocks went up the facts dont fit the bubb
The same table in front of regulators. It may make it harder for the time Warner Comcast deal to go forward. It will be interesting to see if the comcast time warner deal does fall apart if the at t directv deal would go through. If theyre both announced in tandem, a lot of consolidation in that sector. The at t directv is a harder deal to go through. If you put it on the table with the comcast time warner deal, it makes the whole thing dicey for everybody, which is what i think theyre trying to do. New york state banking regulator is reportedly seeking hundreds of millions of dollars from Credit Suisse. The new York State Department of Financial Services made an opening bid of 1 billion but negotiations are expected to drive down the final penalty amount. The settlement with that agency would be in addition to the fine that Credit Suisse is discussing with the Justice Department. Of course the d. O. J. Seeking as much as 1. 6 billion from the bank. The journal calls this potentially e