This year, last friday, that round of risk off. It underperformed. That is true today. Over the last two days, down 2. 8 , the worst in more than a month. Investors not buying that area. One factor that could be at play, valuation. In blue, looking at the forward pe on the s p 500. Coming out of the financial crisis in 2009, we see suppressed levels for both. Over the past five years, lets call it 14 to 16 times. A pe on thee had s p 500 of about 8. 4 times. Unable to get back to that level. Last week hitting 20 times forward earningss, coming off of that level. It may suggest there could be a little bit of a coolingoff ahead given the frothy trading action. Renita i am looking at an big reduce her. The last timeshares had fallen this much was back in september. Big prices at the lowest for the season and at least a decade. They recently lost one of their major southeastern customers. All around, bad right now. Shut downans to older, less functioning, less efficient plants to defend th
Time now for global exchange, where we bring you todays market was a news from all around the world. From beijing to riyadh, to paris, london, and washington come our bloomberg voices are on the ground with this mornings top stories. We started in riyadh come over saudi arabia released its latest in riyadh, where saudi arabia released its latest budget. Emco has significant value aramco has significant value. We have done everything by the book. We are very pleased with the feedback we are getting from investors initially. We will watch how the market reacts. I am very optimistic because the Company Value is very significant, and we will let the markets cover that value. Eldin, comegamal anchor of bloomberg daybreak middle east, joins us now. Sef Share Trading starts at 10 30 in the morning wednesday, 2 30 in the morning eastern time. I know you are going to stay up for that, alix. 1. 5 of the company is getting floated, which is much smaller than some of the other flirtations that are
We will hear from qualcomm Ceo Steve Mollenkopf on the race to 5g. First, nasdaq climbing to a record even as the dow sank following disappointing reports from retailers. Some big tech names leading the way on nasdaq were facebook, broadcom, and tesla. Reports that u. S. And chinese negotiators may link the size of tariff rollbacks to terms set during talks in may. I went head over to new york where Bloomberg Cross asset reporter Sarah Ponczek is standing by. Are we ignoring the trade headlines . Sarah i dont know if we are completely ignoring the trade headlines, at least the good ones. That the u. S. Is softening its stance, that did engage in negative outlook. Take a day like yesterday, a bureau chief from cnbc noted that the tone in china is pessimistic. They were unfortunately seeing that the u. S. Was not going to rollback those tariffs. Focused on stimulating their economy. The s p 500 Information Technology index hit a new high, apple hit a new high. The bad news, as you said,
The reason i wanted to look at that index ahead of the Fourth Quarter volatility last year, months in advance, the skew index had been elevated sharply while the vix was basically sleeping. A big tell on the volatility we sought to the downside. Then the Fourth Quarter happened, stocks fell, the vix spiked higher. This year we see volatility indexes basically stuck in a range as the s p 500 is at or near its alltime high. We have the skew index back on the rise. The reason i point this out, it was rising well in advance of the asked years volatility. Something to keep an ion, especially when we have basically been in a period of strong complacency. Sarah i have been watching the all telling yield curve. When you look at the spread we are seeing a flattening today for the 6th straight day. That is the longest streak of flattening since all the way back in august of 2018. Not even those most this most recent august. If you look at the spread right now, roughly 15. 5 basis points. Still h
Considers a doordash considers a listing instead of an ipo. We will hear from qualcomm Ceo Steve Mollenkopf on the race to 5g. Climbing to a record even as the dow sank following disappointing reports from retailers. Some big tech names leading the way on nasdaq were facebook, broadcom, and tesla. Reports that u. S. And chinese negotiators may link the size of tariff rollbacks to terms set during talks in may. I went head over to new york where Bloomberg Cross asset reporter Sarah Ponczek is standing by. Are we ignoring the trade headlines . Sarah i dont know if we are completely ignoring the trade headlines, at least the good ones. That the u. S. Is softening its stance, that did engage in negative outlook. , ae a day like yesterday bureau chief from cnbc noted that the tone in china is pessimistic. They were unfortunately seeing that the u. S. Was not going to rollback those tariffs. Focused on stimulating their economy. 500 Information Technology index hit a new high, apple hit a. T