The dow is down 95 points, though, so that index remains in the red. Check out shares of palo alto, by the way, soaring after its friday night surprise, the worst fears not realized for that stock. Tons of people tune in to the conference call. You can hear the ceo a little bit later on today. A 15 bounce, and were going to talk about this one a lot this week ahead of earnings, nvidia up today as hsbc raised its price target to 780 from 460 currently. That means 70 upside from here. And Consumer Staples are one of the worst performing groups in the face of higher Interest Rates today. General mills down almost 3 , it along with kellogg and campbells soup hitting 52week lows. Lets take a look at the tenyear yield hitting the h high highest level since t2007. Rarely have rates risen as high, as much, as fast as they have in the past year, 18 months. Steve liesman will be out in jackson hole. Steve, will the tenyear yield be the talk of the town or what would be if its not that . Maybe yo
Were peppy boys. Three down weeks in a row for stocks. It looks like weget out of the gate in a positive way. Dow would open higher by 133. The s p is good for 21. Still early with the nasdaq which has been beaten up is up 89. Bond yields here come after declines of 2 last week for each of the major averages. Treasury yields spis part of th story. 10year treasury eased off last week, but still at 4. 29. Steve. The upper end of the range recently. 4. 30. Some people telling me 4. 50 is not out of the question. A lighter touch from the China Central bank. Lowered the oneyear prime rate by ten points. Economists expected 15point cut. The economists expected a 15basis point rate cut to the fiveyear prime rate. Major indices in china were down across the board. Palo alto here for liesmaniacs want to talk about the fed. Palo alto. You must have been talking about this. It is odd they did the release on the summer friday in the afternoon. It wasnt a bad one. It was a good one. Everybody thoug
Of earnings. The coo will join us as questions over the health of that sector linger as rates keep rising and mortgage demand keeps dropping, theres one housing name positioned to benefit from a rising rate environment. The ceo will join us ahead but we begin with the markets and bob is at the New York Stock Exchange weve been on a little tear lower the past few days, bob really the past two weeks so weve been trying to rally midday, thats a typical pattern. Then we just move down late in the day. We were positive earlier in the day. Take a look at the major indexes. The s p is down 10 of the last 12 days. Same with the russell 2,000. Its down 10 of the last 12 days nasdaq composite is down 6 from its recent highs the dow industrials have been holding up better than the other averages, and thats primarily because its a little more defensive. Its got some consumer names in it take a look at some of these names this month you can see amgen has been an outperformer for the dow johnson joh
Today on inside politics, under the cover of darkness or in the plain blinding light of day. The georgia indictment puts a familiar question on Donald Trumps plate. Just when and how will he turn himself in . Plus joe biden tries to conquer confusion. In just a few hours, the president will use the white house as a stage to explain to voters that his economic plans one year after becoming law have worked. And the politics of mr. Polite. Tim scott uses iowa as a test kitchen to see if voters just might prefer a happy warrior over a form er president. Lets go behind the headlines and inside politics. Up first today, donald trump and his 18 codefendants space an august 25th surrender deadline. The sheriff says they can turn themselves in any time between now and then no matter rain, nor sleet nor snow nor time of day. Between now and then, expect legal maneuvers to muck up the case. Nick valencia is live for us. So far, no sign of any of the defendants. Reporter thats right. According to
Pg. We have to see more green on the screen. We have six points but the s p down 4 and the nasdaq down 40. All three averages are down more than 2 for the week. Thats the larger trend here. Shares of bloomin brands are gaining as starboard has built a 9. 9 stake in the company. The shares youre seeing popping about 6. 5 . Theyre up 18 over the past year. And the stock you heard about everyone is talking about it, what are they going to say, Palo Alto Networks, theyre reporting after the bell, first time in three years an s p 500 company has done that on a friday. Pretty rare. Trying to hide bad results . Q. Showcase good ones . A scheduling conflict . Well find ute more and get a preview coming up. The other story catching wall streets attention rising bond yields. The 10year hitting 4. 3 this week. Highest since last actually about the highest in 15 years really. What does it signal about the economy and how should investors position . Jim is president of Bianco Research and ron is a