Starbucks are going to do. Honeywell shares tumbled on guidance. It was the companys worst day in five years, and that could have big implications for the bestperforming dow stocks. Obviously, industrials, with the exception of boeing did pretty poor lay. I dont know if theres a direct correlation between caterpillar and honeywell. Capex is particularly weak and its not a good recipe for caterpillar. We had ppg as well. Theres some doubt about these sort of cyclical stocks. Whats interesting is that you would think if the fed is ready to lift off, at least theyre going on a rateincreasing cycle that cyclical stocks would be ready to take off and theyd be leading the way. The problem you have with honeywell, is to see a gap like that, tells you that people are off sides. Then General Electric is down, the s p is down. Theres something going on under the hood. Its going to take more than reflation. If we start to see a rate increase e thats going to hurt Multinational Companies like c ca
Exchanges. I think she has a beautiful face and she is a beautiful woman. Good evening, i am heather holmes. I am frank somerville. 11 candidates sharing one sage in california, making their pitch to the American People in a debate that lasted almost 3 hours. Ross, there was one candidate who stood out tonight. Thats right. So many candidates on stage, but it came down to harley fiorina. She barely made it in, but once she did, she had the most to gain. Tonight, most pundits say she stole the show at the expense of donald trump. From the moment they walked in. I think we are the 18. A team. Welcome to Carly Fiorina. Would you feel comfortable with trumps finger on Nuclear Codes . Reporter . Fiorina sparred with trump. I think he is a wonderful entertainer. My temperament is very good. Reporter you can wave your hand and say the 14th amendment will go away. We will take care of those babies for 90 years . I dont think so. You were forced to file for bankruptcy not twice, not twice, four
Betty hello. Im betty liu. Welcome to bloomberg best. An indepth report of news around the world. Lets begin with a day by day review of the weeks top stories. Starting on monday, when the imf welcome the chinese currency. The inclusion of the rmb is recognition of the significant reforms, which have been conducted. Of the significant opening up of the chinese economy, of the financial, more marketdriven principles that are being used by the chinese authorities going forward. Shortterm it doesnt mean a lot. To put things in perspective, youre looking at the total allocation of 318 billion. That is roughly 6 of the daily Trading Volume in total foreign exchange. Just 6 . And one third of global gdp, less than 1 of total trade. It is a drop in the bucket. It is much more of a psychological effect. Is that significant . I dont think so. It is symbolically important for china because to me it is an officially an endorsement of what china has achieved in terms of financial market. And a for
Investor competition is the bain of profits and the scourge of stocks. As we found today when the transports were clubbed for nearly 2 loss. But the nasdaq gaining 0. 3 yet the key dow jones transportation average got smashed today courtesy of too much competition. Competition in the airlines. See the transports they can cast a long shadow if not a paw over the entire stock market as they did for most of the day until the fed minutes were released to 2 00 p. M. They showed there were no plans for an imminent rate hike. The transportation stocks the truckers, the rails, the freight followers and airlines were often seen as commerce to come because if it isnt sold its shipped. Sometimes this kind of action is a sign not of a weakening trade picture overall but a potential potentially ruinous cut throat competition. Thats what is driving the group down at this very moment. What i didnt count on was that mad money is driving the dialogue causing the groups weakness. Specifically last night
Sam Altman: There is increasing scrutiny on the makers of large language models that power generative AI tools such as ChatGPT over their use of copyrighted materials. Benioff’s Time is among publications currently negotiating with ChatGPT maker OpenAI to license their news work, as first reported by Bloomberg.