And then later, getting set for netflix and whats in store whenit reports later today after the bell. It is wednesday, october 18th, 2023. You are watching Worldwide Exchange right here on cnbc. Good morning and welcome to Worldwide Exchange. Im Frank Holland. We get you ready to start your day as always. We get a check on the u. S. Stock futures after a mixed session yesterday that saw the dow send its win streak for three days. The dow is in the red. It looks like it would open up 30 points lower. The s p and nasdaq as well, lower. Checking treasuries, normally we start with the 10year. Today we start with the 2year note, something not seen since 2006. Im going to draw a line. Right now the 2year note at 5. 195 now. We continue to watch the moves on the 2year. We also want to take a look at the rest of the bond picture right now. The benchmark 10year at 4. 85, trading at levels we havent seen since 2007. The long bond getting close to a 5 yield. We also want to turn to energy. Oil po
Apple. Lets check in on the markets and tech is the laggard of choice. The nasdaq 100, down 1 10 of 1 and we know stocks sometimes struggled in the face of raising bond yields. A look at the 10year yield pushing to 2007 highest so we are anticipating strong data we have seen out of the u. S. The macro picture looks better and that means ultimately, what that means for the federal reserve. We are looking at crine shares. China itself trying to stimulate it economy and the u. S. Are trying to impede its technological knowhow. Lets look at the individual areas of risk assets we like to focus on. With bitcoin, we have had a wild ride. His larry fink is larry fink on the side of bitcoin . Certainly. It looks like he moved to a place of solace and an area to be seen as safety and that is what seems to be talked about with the head of backlog head of blackrock. Ed there is a lot in the new cycle that is pushing individual stocks. Lucid ev maker saw it production drop 30 and casting doubt abou
Lisa heading into a week of important inflation data and two of us are live in d. C. , one of us is in paris, and dani burger is a new york. Welcome to bloomberg surveillance. More on why we are all over the place in just a moment. Important week kicks off on wednesday with data releases that make solidify a narrative that has been flipping and flopping. Why wednesday is going to be so important . Dani wednesday will be so important because this market has decided that with the week data coming from the consumer, the week data coming from jobs moving in the wrong direction, if inflation does not also soften maybe well Start Talking about stagflation. Lisa that is part of the fear. We are in washington, d. C. Lets get to the why. And reorder, you have important annemarie, you have important interview with janet yellen coming up at a time when industrialization and the china u. S. Relationship is what every ceo and politician is focused on. What will be your focus . Annmarie we are sitti
Thermometer but the correlation to equities bonds is really rich. The team leave for me on a monday morning is i see japanese yen just creeping ever so slight. It is just a bit of a weakness. Jonathan 149. 74 at the moment. We averted a shut down and we will get payrolls friday. Ultimately we will do this again. Lisa i cant wait until november when we can do it all again. What i find interesting is the threat of higher rates and the lack of economic weakness on the heels of a Government Shutdown is what is spurring the concern in markets today. All of the sudden people are taken the bond who seriously. Jonathan energy prices, rates, apparently this is the quarter when this consumer frame begins to crack. Tom is the basic theory and then you talk to optimists and there are a number of them and they say no, you saw that in september. I had a great conversation with neil by the neal dudda. He said is not about 4 growth it is tuition to issue two ish. Jonathan jane fraser at city talking a
Gets back to its version of tax overhaul with republicans pushing hard to get to a full senate vote as early as this thursday. We welcome our chief content officer, marty shanker, and from washington, sahil kapur. What does it look like in terms of whether or not they will get a vote by thursday . Is a scurry to get all the votes they possibly can between today and thursday to cobble together the votes the frontpass it on end. The vote is likely to come in on thursday around whats called a ama. Earo a theres a small faction of deficit hawks in the senate, two of them retiring, immune to political pressure. They need to be placated. They need to believe that this wont simply explode the deficit and put the nation in a more precarious place in terms of red ink. Raisedollins has concerns about repealing the obamacare individual mandate. She is concerned that it will raise a means for other people. Otheren there are some wildcards. One of the big possible no votes, rand paul, came on in fa