Opec supply cuts will tighten the market. It is labor day in the United States and canada, the regular band is out for the holiday and ive taken over for the interim period. A little bit of visibility of what is open. What we know is currently offline are the cash, u. S. Equities and theres also no cash u. S. Treasuries. Many firming up by 1 5 of 1 . The folks at jp morgan and Goldman Sachs making an argument around the story. In terms of valuations those are looking stretched. International equities more attractive. The twoyear german bunds with the country selling 5. 5 billion euros of twoyear government bonds thats coming up at the beginning of this month. A weaker greenback and then brent crude hovering short of 99 a barrel. Lets set the scene with assets in china. China builder shares surging with the nation boosting property support. Shares advancing 8. 7 . Weve taken the real estate index after the country cut down payments for homebuyers and encouraged lenders to lower rates on
It ended up 34 points. Look at what is happening with the treasury market. This is the big story from yesterday. Huge swings where you saw the yields up significantly in the morning and drop Something Like 18 or 19 basis points. You see the tenyear yield below where we were this time yesterday. 4. 488. The twoyear yield at 5. 07 . Lets look at crude oil. Wti is up to 85. 93. Then we look at the crypto board. You b bitcoin is up this morning with the speculation it will be approved by the s. E. C. 17,000 is low. I remember it. I dont get the speculation. We talked to hester yesterday. I cant believe it hasnt happened. She also has been in favor. She seemed to suggest and i read her comments to mean these folks were not any more inclined to do it a week ago. I got her. If we did get that from her, it was like go figure. For some reason, they will not do it. It implied the logic. Sure. She has been in favor. If you have people who dont agree with logic, it doesnt matter. Ge is out. Phil l
Buying yields in oil are lower roadmap begins with disney better than expected with streaming numbers nearly breaking even. Shares, as you just heard, under pressure. Plus elon musk reups his ai warnings saying it will over time biological intelligence speaking of ai, ill be joined by the man sam altman calls his secret weapon at open ai as well as former treasury secretary steve mnuchin. That will be over the next couple hours carl all right lets begin with disney, guys. Lower in the premarket got the raised guidance. Narrowly overall streaming losses to about 18 million. Disney plus and hulu with a surprise profit. Box office sales did see a decline in the period, jim as julia just pointed out, although parks and experiences up ten, some moderation, and post covid travel. When you go over the arpu, the average revenue per user for streaming, its quite good india the amount of money they were making on the indian sub is quite different would i go into this train wreck and buy it here
Charles absolutely are. Absolutely. Liz this country, for better or for worse, and i say for better. Charles, thank you very much. Breaking news. Folks, if there is a headline on this tuesday its that the bulls are maybe losing a bit of their grip on the markets and are in scweap. Ty of snapping multisession winning streaks jeopardy. If you look at this picture at the moment, looks okay, the dow is up 14, but it had been up 125. With we do have the nasdaq dipping into negative territory, down 18, the s p clinging to a 4 of point gain. What is also interesting is that the dow still in the green considering a blue chip bomb that is proving to be a drag. That bomb . Disney. Shares are cratering 99. 25 9. 25 right now. The stock not only dwelling at the low e depth of the dow 30, but it stands as the second worst performer on the s p 500. Disney shares bitten hard by the details that were within what looked like a pretty good Quarterly Earnings report which included a beat on earnings per
Starbucks still struggling, down 18 since earnings last week and why someone not naming names, thinks now may be the perfect time to short tesla. Im melissa lee, coming to you live from studio b at the nasdaq on the desk tonight tim seymour, Karen Finerman, dan nathan, and guy adami. We start off with the 9. 5 drop in disney after earnings this morning. Even as the entertainment giant streaming business gets closer to profitability, a slight revenue miss lower than expected guidance weighing on the stock it had been the best performing dow component this year up until todays plunge its now dropped to number four. Leadership alluding to trouble in two tent poles of disneys business first, the cfo warning about the consumer, saying that while travel and demand still appear healthy, the company seeing, quote, some evidence of a global moderation from peak postcovid travel then, there was ceo bob iger addressing future bumps in the road to streaming, admitting the path to profitability may