Selloff today after disappointing earnings news from facebook owner meta. Please fact amazon after the belt and i think the street is prepared for some disappointing news as well. Nasdaq 100 down 2. 2 . That is just a concentrated version of the ccmp. Abigail doolittle has a look at the earnings that have driven these losses today and the effect on volatility. Abigail pretty brutal stretch. The declines you were talking about, we have the major indexes down for the second day in a row. I dont think the s p 500 is oversold yet. There could be more selling ahead. This is since j. P. Morgan kicked off earnings season, down 5 . The worst stretch of the year. The bears are in control. Looks like we will have a thirddown month in a row for the s p 500. Relative to the earnings that are pressuring this week has every thing to do with big tech. Yesterday was alphabet and today is meta and alphabet and amazon. Meta down about 5 , the worst day going back to december of last year. The quarter wa
Jonathan ferro and lisa abramovitz. Tom i saw him on a cruise, what a great turnout on the cruise. Catherine greifeld joins us this morning. She is here and she will explain white piquant is popping by bitcoin is popping she will explain why bitcoin is popping. Yields are up. Things are little better but i walk in and i look at the bloomberg terminal, 8. 04 on the bankrate 30 year mortgage and we are subtly solidly in a percent 8 . Lisa we have seen this incredible fluctuation, 20 basis points in a couple days in the long end of the yield curve and people say volatility cannot continue or can it. They are forgetting the levels. It causes a different reality for people financing the nuts and bolts of their businesses and their lives. Tom Economic Analysis with bramo. The media wants to go, they going to die. Microsoft was like a charm. If this is exactly what we were to see, microsoft is on target. Lisa the fact that you had two but he lives comprising 10 of the entire s p index coming
Countrys biggest bank is taking issue with and where he sees the economy going on. And later, personal finance expert suzeor orman is here. Im melissa lee, coming to you live from studio b at the nasdaq. On the desk tonight and we start off with a full slate of Earnings Reports. Microsoft, alphabet, visa, snap, all on the move after their latest results. We have full team coverage. We start off with steve kovach, who has all the details from microsofts quarter. The stock is higher right now, steve. The Conference Call is in about a half hour. Microsoft shares are up. The solid beats on the top and bottom lines, but heres whats more important. Reversing some trends that weve seen. Azure cloud growth up 29 versus the 26 gross the street was looking for. Thats exactly what investors wanted to see, after several quarters of declining growth. Now, what to listen for in the earnings call. Do they believe azure bottoms and continue that acceleration that we saw last quarter or is it going to
Further stockmarket gains could be at risk if geopolitical risks continue. Morgans miss. Wealth Management Revenue misses estimates and net interest comes in light. Im alix steel with my cohost in london, guy johnson. Welcome to bloomberg markets. We are awaiting President Biden speaking in tel aviv after meeting with victims and survivors of the attack from hamas weeks ago. Guy absolutely and we will bring those comments from the president when he speaks. We are anticipating this conference will start fairly shortly. I think the markets are looking for clues as to how the situation evolves. Listening very carefully to the president to try to gauge exactly which lines the u. S. Is going to focus on. Where we think u. S. Policy is going to take us next. In theory, the continuing presence of the president in israel probably means we are not queasy any ground offensive starting anytime soon. But there are key questions that need to be answered. What happens at the southern border . What i
The bond market has been sensitively tuned to every jobs report or every jobs indication we have with the jolts and the adp number. The jolts showed a stronger number when it came to jobs. As we head into that, you see dow futures up 26 points. S p up 4. Nasdaq up 21. The treasury market, again, everybody is watching. 10year treasury is 4. 27 . The 30year treasury is below that at 4. 91 . Crude oil prices have been down. Wti is trading at 82. 40. We have been north of that this week. The demand picture is the question. The supply picture turned to the demand. We decided it was supply. Demand. Iaea showing a backlog of gasoline. As prices get higher, are consumers less able or willing to pay for gasoline or cutting back on driving . Fascinating if you believe the fed is not driving any more, then a soft jobs number and that doesnt mean yields fall. You suddenly believe the fed will keep rates higher for longer. This is what mary daly said yesterday. She said we will get it back to 2 . T