Most vicious rotations i have ever seen. It brought some of the rocket ships screaming back to earth. With the dow advancing 85 points, the s p declined. 08 . The nasdaq plunged 1. 8 . Thats just a recovery from even lower levels. Were starting to see that buy f b its a breather, people, it had to happen eventually, you just cant have stocks go up day after day after day on nothing new. Which is exactly what was happening on the supertech stocks. Yesterday afternoon we started to see the money rotating into the down and outer stocks. And then the buying, the template for high growth, but it was an nvidia versus nordstrom battle. Nordstrom had been ice cold until the companys management decided to talk about going profit. To me, that was a wakeup call to cause us to responder whether or not we had gotten too bullish on the market. It got crushed at the opening, it ended up at plus 2. 83. This was just day one of that rally. What surprised me the most today, though, was that the rally al
From bloomberg asia. This is Bloomberg Markets. Asia market extending, u. S. , rashaad oil continuing its best winning streak of the year. China and russia say they are getting on famously and the u. S. Is warned about new negativity. Fits,d if the face use facial recognition to unlock the new iphone. Happened, it left a , a mood oflanned about a billion dollars traded, china Corporate Bonds and government Corporate Bonds. What has been happening in the last few years when it comes to the bond market, it seems to have been grinding to a halt in terms of that growth. This will hopefully get this a buit of a fill up. We may see that spread between china tenure Government Debt and 10 year treasuries, perhaps that narrowing. Is this something to watch out for . Haidi the key is really patience here. Give it a couple of months over the next year or so to heat up because ht we are about 30 minutes away from the open of china and hong kong. Sentiment is starting to pick up globally. That is g
Commerzbank swings to a loss in the second quarte dragging the shares lower, while socgen suffers as the french lender sees both profits and revenues decline the banks deputy ceo tells cnbc emerging markets are helping we have an advantage from the improving environment in central europe, from the dynamic in africa, which has compensated the still negative Interest Rate environment in the eurozone, and the low market volatility. An apple a day keeps the bears at bay the iphone makers better than expected earnings boost european suppliers, and set apple shares up to open at a record high. Good morning, everyone its hump day, that means its wednesday, of course the stoxx 600 is not doing too much this morning. Were off bay fraction the german and french markets are higher, but seeing pressure when it comes to the ftse. Thats in part because were seeing the mining shares on pressure rio tinto off by 2. 5 , this on the back of a disappointing dividend the divi not as big as some expected r
Bloomberg. This is what im seeing across the board. Theres a little bit of sidewayson moving for these equity movements. They seem to be tracking gains across asia. Traditional assets, the Dollar Strengthening the crude oil will keep an eye on that at just below 48. What could straight to the bloomberg first word news. On for thisame north korea this after kim jongun threatened to do just that. Any military action would require his nations approval. The German Economy extended its growth to the Second Quarter. That is just below the estimates in the Bloomberg Survey. It will come as welcome news for Angela Merkel. Asked hownt trump has china handles intellectual property. Beijings ministry of commerce responded by saying any protection would damage economic relations and hurt the business interest of both countries. And bill dudley says it is reasonable to plan next month. He also said he supports another Interest Rate increase this year if the economy evolves at we continue to monitor
Performance since april, reversing the losses that besieged the market last week. The mood on wall street improved on easing tensions with north korea thanks to an opped written by the secretaries of state and defense who said the administration would continue to pursue diplomatic resolutions with pyongyang. Now, add to that a solid quarter of corporate earnings, and stronger than expected growth in japan, and stocks took off. The Dow Jones Industrial average rose 135 points to 21,993. The nasdaq gained 83. And the s p 500 advanced 24. Dominic chu watched the rally from the floor of the new york stock exchange. Reporter it didnt last very long. What was shaping up to be a bigger scaled downturn in the stock market ended up fizzling out like its done consistently over the past year. On a Bigger Picture basis, major indices posted declines of around a couple percent only to bounce back today with gains in tech stocks and bank stocks. The general consensus among many traders is that geopo