Thank you. Did you see how i perked up, great stuff. Thank you so much. Im Ashley Webster in for liz claman. We begin with the fox market alert stocks mostly lowered to kick off the week. The s p 500 and the nasdaq extending last weeks decline really the market treading wa water, theyre down reversing course up 40 points or there about coming off the worst week since october, the s p 500 and nasdaq also went off the lows of the session of the sour but still on pace to post the backtoback losses. Investors are cautious ahead of key inflation data this week we have cpi tomorrow, ppi on thursday and as we know those are two important measures that the fed will watch very closely as it decides what to do with rates, lets talk about nvidia also under pressure after posting the biggest oneday loss since may that was on friday shares are up 75 this year. Nvidia leading the way in the a. I. World nvidia in the magnificent seven as well, j. P. Morgan today downplaying concerns over a bubble in
Now looking at none to one. This is bloomberg surveillance with jonathan ferro, Lisa Abramowicz, and annmarie hordern. Jonathan live from new york city, good morning, good morning. For our audience worldwide, this is bloomberg surveillance with Lisa Abramowicz and annmarie hordern, i am jonathan ferro. We got to begin with this name. Apple. The latest reporting from our colleagues at bloomberg. Apple canceling a decadelong effort to build an electric car. Lisa a decade ago it was building a car would be the next vr headset, the next artificial realitytype of experience. It turns out it is a bad business to build cars. Its a Good Business to say we have something with ai in whatever form it is and it will transform your life. That will gain more traction. Jonathan there is information what theyre moving away from, moving into, and how the market responded. The stock rallied which tells you everything you need to know. Apple imagined the car being priced around 100 k but executives were
Trade wars and all of this is driving inflation and its negative for markets. Chinas real estate roller coaster is rolling. Helping to stem losses on the hang seng. And tsmc signs a noncommital note saying theyve not yet decided whether to invest. All right, everybody. We are kicking off the show, taking a deeper dive into what markets are doing today. Thats a lot of red on the board behind me. Were going to get into the drivers for the european session, but first let me take you back to the u. S. Session yesterday. Of course, it was the first day back after the holiday and all three sectors ended the seg in the red. Negative sentiment being picked up in the last hours. A lot of focus on whats been happening to the price of oil. It has reached 90 for the First Time Since november, this after saudi arabia said they will be continuing with their output production cuts until the end of the year. Its set to continue into the latter half of this year. This has meant the backdrop for oil has
Tim seymour, karen finerman, dan nathan, and guy adami. We start with the major market turnaround. Rebounding and rallying to close up 200 points on the day. The s p 500 closing up more than half a percent and the nasdaq surging 52 points, all as investors shake off the war in israel following the deadly hamas terror attacks over the weekend. Crude and brent popping 4 . Biggest gains since early april. Gold up more than a percent and a half, and the Defense Sector moving higher. Airline, travelrelated names suffering. Major carriers including united, delta, american, suspending service to tel aviv. The lateday rebound coinciding with commentary coming from fed speakers. Steve liesman will be along shortly with all of that. But we begin with the question, why are markets so calm in a seemingly world of crisis at this point . Guy . This is a hard show. We have to be careful. We understand whats going on, were respectful of that, but we are tasked to do something in the lens of the market
Speaker paul ryan had to quell a revolt. From bloombergs global headquarters, miami new york. Cannot in the new york we are just past 6 00 p. M. Not a huge rally in stocks but all the major indexes in green. We have the s p, also up one third. The nasdaq gaining just over 0. 5 . The joy from the u. S. Not being spread to new zealand as they have been training for a couple hours. The kiwi dollar, little change against the greenback. We are up a couple points at the moment but it is hard to get the idea so early because we have the staggered open in australia with stocks trading in alphabetical order. The aussie dollar unchanging. It did take a bit of a pounding this week with weaker than expected gdp and trade data. If we take a look at japanese futures, trades are out of chicago very slightly higher. Nikkei futures also looking a little bit healthier. The japanese yen strengthening against the dollar. Lets get the first word news. Thank you paul. Erupted across palestinian territory in