Katie welcome to Bloomberg Markets. You take a look at these markets and you can see there is green on the screen. The s p 500 is up by about 0. 5 . Compared to what we been seeing, its exciting. The nasdaq 100 is seeing a bigger game, up about 0. 8 . Weve been talking that inflation data coming in as expected with a bit of a relief there and you can see that in the bond market as well. Not huge moves that its the direction of travel. You have yields moving lower right now to the tune of four basis points on your 10 year treasury yield after the feds preferred gauge of underlying inflation, the pce rose in january as expected, supporting the feds patient approach. For more, were joined by mike mckee. After what we saw in cpi, this is probably good news for the fed . Mike its good news for wall street. You probably heard that big whoosh at 8 30 a. M. In the pc was a little higher than its been in recent months but it is not too high and a yearoveryear basis, inflation is still going dow
Welcome to daybreak australia. I am haidi stroudwatts in sydney. I am vonnie quinn. Intel climbs on an upbeat forecast. The selloff in big tech while bonds rise, janet yellen tells bloomberg the recent you observe revise economic strife. You are seeing yields go up. This is simply a reflection of the strength of the economy. Also, the ftx founder faces prosecution as he takes the stand in the fraud trial. Lets get a quick check on wall street. S p futures tire. Nasdaq 100 futures point to a higher open in the very early going. This after the s p dropped another 1. 2 . That brings the yeartodate gains we have had very mixed earnings in particular from the tech company. Economists are only looking for rise of 1. 9 . A lot of mixed signals out of this economy. We have the 10year yield dropping for basis points. Now it is down to 8343 a barrel. Lets have a look at those after the bell earnings. We have amazon and intel. The market is reacting well to both. Intel is saying the west may be o
There watching day vacation live from new york, sydney and hong kong. Counting down to asias major market opens. Australia has just come online, asian equities set for him next open. Amazon and intel jumping read chinas foreign minister is set to meet with President Biden after talks with Antony Blinken in washington and ftx founder Sam Bankmanfried struggles as he testifies at his federal trial. Annabelle im going to wait a few minutes until that becomes online because it seemed like a sentiment shift in the final 10 minutes. The futures contract reopened. It had closed to negative and came online in the last 10 minutes into gains, so the impact of u. S. Earnings from amazon, intel is better than expected. Better numbers, stocks rising, telling us how much of an influence those numbers are having. What else is helping as the pullback in treasury yields and so that is being reflected in the three year and 10 year, the softer dollar the aussie is firmer against the greenback. Asx 200 is
Crown prince discussed ways from prevent the war from escalating as the you and a best of demands secretarygeneral resign for saying the october 7 attack did not happen in a vacuum. Microsoft jumping in late u. S. Trading after the cloud unit is worth picks up steam. Rival alphabet sinking as they are offering lags. Bank earnings continued rollout. Deutsche bank meeting estimates where they spent finish pumping santander some better than expected thirdquarter net income. We will speak exclusively to the cfo later this hour. I want to get a recap on the numbers which is important when we look at Deutsche Bank. We are seeing estimates and they are kind of being met but you are not seeing much outperformance. This is stark contrast to what you saw with unicredit but thirdquarter net revenue is 7. 1 3 billion in the estimate was 7. 1 one billion. Pretax profit is 1. 7 billion euros. The estimate was 1. 6 billion. There 2023 Net Litigation charges are exceeding their 2022 levels as well. I
Guests, and nice to see you. Thank you for joining us. Thank you. Lets check the markets now you know the story the nasdaq is where the bulk of the damage is. Down near 2 a loss of 236 points yields are very much the story today as well. Backing up yet again toward 5 there is 491 the tenyear note yield. However, i want to start with microsoft. That is the story today or certainly one of the stories at least the positive story today as your cloud Revenue Growth accelerating for the first time in a couple years because of ai, you own the stock. Give me your take. Its good we saw Cloud Services growth back up 28 which was the expectation i had on monday. That is where it needed to be. But overall the impact of what we expected from microsoft on the market, itself, its ability to stabilize the market, it obviously is not present and the reason its not present is these stocks are called the magnificent 7. Now were down to the magnificent 5. Weve lost tesla, lost alphabet. Well get into the