Oracles cloud revenue surging by growing ai needs. The boeing challenge citing delayed aircraft deliveries, rethinking the 2024 financial forecast. Lets begin with the Market Reaction to cpi. We mentioned a tenth hot at. 4. Shelter and gas 60 of that. Surprises in here, mike. Apparel up. 6 , a topic of discussion. Yes. I think what the market did, there was a quick reflection when they said, okay, this is hotter than expected. Stocks back up. Then the rethink was, well, the things that matter and that will translate into what the pce inflation number is going to say combined with how high a threshold was set by powell last week for changing their premise that they are preparing for likely rate cuts in the summer. I think all that fit together. The core services, stubbornly firm, inflation readings there, dont translate that the pci will go in the same direction. Thats part of the mix. We are also geared for shelter being stubborn. You didnt see the uptick like we saw in january. All th
Commentary plus back off the worst day and week of the week, the Company Reportedly looking to boost its efforts in a. I and elon musk and Mark Zuckerberg seemingly agreeing to that cage match, but some hurdles still ahead. Lets begin with the markets. The s p, nasdaq, as we said, coming off their worst week since march, jim that reversal friday didnt feel great. Oh, my. It took your breath away and i was watching them just saying, what happened . Is there some event . Did something happen that was exogenous . But then again, look, lets remember, bonds having a nice move today they were down 36. Now theyre only down 11 i thought that friday was one of those days where people just said, okay, weve had a great year now, lets just sit here and sit on our hands and that was what i was thinking to start my show tonight is to just sit on my hands, and i may do it. I just felt that weve made a lot of money, and maybe thats what were going to make for a month. Youve been pretty leery of this p
The nasdaq is dticking ever so slightly in the green. Down just a tenth of 1 in the s p, 4504 was the last trade there. This is an interesting move only because there might have been folks who believe it could have been the precipitating factor for something much worse, even so today josh, it didnt look like it was going to be massively down but did accelerate into the close. Okay, were down, but whats down the most . It tended to be the stocks up the most on the year he was on with you yesterday and calling it an upsidedown day. Some call it an insideout day it was counter trend you had stocks, the top 20 performers in the market up an average of 23 you also saw a lot of pain in higher yielding stocks, equities, that makes sense a higher yielding bond, long bond i think were probably just catching our breath. I dont think anyone wants to make a big commitment to one side of the market or the other ahead of apple even if its a boring report, it will speak volumes how august progresses
Steve cohen had to say about markets and a. I. , especially. Plus, it is a pivotal day for disney. The companys battle with nelson peltz is set to conclude at its annual meeting. That is set for this afternoon when we will get the vote totals. And tomorrow, 9 00 a. M. , right here, dont miss an exclusive with bob iger. Is it right here or out there . Its out there. Its out there. I will be going out there, hoping that the high winds that are blanketing the area wont prevent my travel to see mr. Iger. And by the way, just to make a point here, this is not saying anything one way or the other about the vote. Hes going to do the interview either way. Huh. Okay. Okay . Is that okay with you . Well, id be more inclined to do the interview if i won. I think thats his expectation and or disneys as ive been saying all along, at least. They have had a lot of confidence they will win. But you wanted to make it clear that it is not do you share that confidence . I do. The reporting i have been ab
Here. S p 500 just flipping into the green. Really trying to shake off that third day of declines today. The nasdaq 100 still down more than. 1. You have the twoyear yields up about one basis points now, just under 470, very volatile. And then you also have crude oil still above 85 here, still up. 8 at the highest level since october. And we have some breaking data and Michael Mckee has the details. Life would be a lot easier if we didnt have contradictory situation coming in. So not as big of move down in prices paid for services as we saw a move up in the prices paid for manufacturing. The only people that cared about is im employment in the service ism employment. We are seeing some contraction in employment in the services of business. All in all, this is a good report but slightly weaker than it has been and that sort of breaks this chain of strong reports that we have seen all week. Sonali just as i was on the board there, you had twoyear yields above 73 for a moment there, getti