Mcmullen on persistent inflation and how the consumer is doing at the grocery store. Its a big deal for sure. Topping tape this morning is the focus on the fed and what youre seeing right now from markets is wait and see, Holding Pattern, if ive ever seen one. The s p is just about flat on the session and the nasdaq is outperforming, if you want to call it that, sarah. Its up about one quarter of 1 . Right now, weve got cnbc senior economics reporter Steve Liesman joining us right now steve, sarah and i talked about it this is very much about what the fed is going to say. Is there any surprise happening or is the market pretty much just baked in, that one quarter percentage point hike at this point . Actually, both of those are true the market has baked it in, but i think theres some possibility that the fed looks at the landscape, especially the landscape as tainted yesterday by the Regional Bank, the decline of Regional Bank stocks, and says, you know what, this is a problem here and
Im wilfred frost. Im Morgan Brennan in for sara eisen good morning. Lets get straight to the market picture. Resounding performance yesterday. The dow and s p up 1 . The nasdaq up by a half percent. Banks really soaring, sort of perfect storm for them yesterday. The new fed chair talking about raising interest rates, also talking about not increasing bank regulation, reforming the volcker rule and progress on tax reform banks disproportionately pay full tax rates, thats why the russell soared 1. 5 . Transports, too transports as well. Good day across the board for risk assets. Its good for the dow, good for the s p, up 48 points or so on the dow. The nasdaq is just south of the flat line, down 6 points bitcoin surging to a new record high, above 10,000 over night it surged as much as 4. 4 earlier, now 8 . So its 10,700 in asian trading hours. Its capped more than ten fold increase now this calendar year. Extraordinary run continuing up 9 10678 9 , 10,700 almost 11,000. I wonder how muc
Platform outside johannesburg. It was the second train crash in the area within a week. Last weeks accident killed at and injured over 260. Global news 24 hours a day powered by more than 2700 journalists and analysts in over 120 countries. Im mark crumpton. This is bloomberg. Shery im shery ahn. Vonnie and im vonnie quinn. Welcome to Bloomberg Markets. And injured over 260. Global news 24 hours a day powered by more than 2700 journalists and analysts in over 120 countries. Shery here the top stories on the bloomberg and around the world. Debate. Immigration taking center stage as President Trump meeting with a group of 20 lawmakers today. House Speaker Paul Ryan singh republicans want to solve the issue. We head to washington for the latest. Ethics whirlwind. Fx whirlwind. The pboc scrapping the countercyclical factor for the yuan. After shelving his hedge fund plan bitcoin champions mapping out a new opportunity. More on the bloomberg scoop later this hour. Vonnie breaking news on mi
Social responsibility. Should they take the lead on possible gun control power lunch starts right now and welcome to power lunch, im Michelle Carusocabrera and stocks are carving out accident gain ahead of the fed minutes but that could change in less than an hour. Yields on the twoyear note hitting the highest level since the beginning of the financial crisis and watch the fiveyear because results of an auction moments away Home Building stocks are rallying today tripoint and kd home and pulte are leading the way and fueled by advanced auto parts, stocks are up doubledigits on the back of the earnings. We have eamon javers with breaking news at the white house. Reporter weve been watching this student protest in front of the white house this afternoon protesting against gun violence. Weve seen the president has a meeting later on today with a number of students who have been affected by gun violence and i spoke to a white house official who signaled new flexibility on the part of the
Today, boss tick and caplin, claims fall to 222 roadmap begins with rate shock jitters as investors continue to digest the hint on hikes. Could the ecommerce giant account for 25 of the s p 500 gains this year such as netflix and microsoft. Walmart looks to challenge target and amazon making a big investment to boost online sales for home goods. Stocks are looking to rebound from the big swings on wednesday. The dowrose more than 300 points and only to give up gains and finish down 167. The blue chips and s p in the midst of a twoday losing streak and nasdaq is down for three days and has not had a fourday losing streak since november of 2016 thats how long its been for the nas. It looks like they were going to be in good shape yesterday and held onto the gains until the digestion of the fed minutes and amazon crossed 1500 for first time and fang really powered the nasdaq higher until of course, the minutes. Now the journal is looking at individual stocks that are responsible for the y