Really something that has been weighing on equities over the course of this week. We saw it heating japan stocks broadly but tech feeling the brunt of it. Today we are actually moving a little high. It is a reflection of the other theme we are tracking today. The u. S. Inflation print a little hotter than expected but not too hot to really shock markets. We saw stocks on wall street climbing to fresh records. So that is positivity coming into the session. But as we said, a lot of unions in japan will be reporting on wage or pay deals this week, and wednesday will be the heaviest day or amongst the heaviest day for announcements before we get that first tally being reached and reported on on friday. Lets shift into korea now and take a look at what is going on in the session so far. Of course a market heavily correlated within the dynamics of wall street. Unsurprisingly you are seeing stocks moving to the upside. Tech names are the ones to be watching because we saw the likes of nvidia,
Coming up, a hud payrolls number is met with cool wages and report spurs investors to lock in the rate cut. With all of the focus on the fed , credit issue it sets another record. We begin with the big issue. Fed watchers soak in the data. This is an ambiguous report. A positive story. Jobs numbers have exceeded expectations consistently. This economy is not as fragile as people think. Labor Market Holding up. The market will interpret this as good news. The soft landing is priced in. You have to take the fed at its word that three cuts is probably the likely place. It is still a solid economy but it is moderating. It is a matter of when, not if. We are thinking the fed can orchestrate the soft landing but they have to cut. Sonali lets start with a look at the jobs numbers because you could call this the best of both worlds. The nonfarm payrolls report posting a 275 gain where you saw 200,000 expected. What does that mean in terms of the rest of the data . You saw weaker data in the un
Author jeff quinn. You open your most recent book, waco, with this quote from rick perlstein, the historian. A fog of crosscut motives and narratives, the complexity that defies storybook simplicity at a that is usually the way history happens. I think the quote is the most cogent of ever heard. Rick does a tremendous job himself and its true. Know historic event happens in a vacuum. Its tied to many other things. And thats the fascination in research and writing on narrative, nonfiction, history. What i read a quote from you as well, and this is from 2021 in the cleburne times review. A lot of people no longer want to buy nonfiction to learn things. They want nonfiction books to reflect what they already believ want books to reinforce their opinions. They want books that tell them everything they believe is absolutely right and that the other side is even worse than they thought. If you take a look at the bestseller list for nonfiction, for the last several years, theres three categor
Lets talk about the markets. We are up about 8 . Stocks falling back to 64, spot 24 is where we are trading right now. What is driving that . Luxuries. I would argue china is one of the biggest effects on what is happening in europe today. Maybe more so than what is happening as a result of the cpr cpi we saw. Lvmh is up by 3. 5 . China is going to allow tour groups once again to visit the u. K. For, france, italy, you name it. As a result, luxury stocks will benefit. That is a big pickup. You can see the benefit in the stock it the engineering giant, there are issues with the digital business, but china is another factor. China boosting lvmh, china hitting siemens. You can see the share price reaction and both of those stories. China as ever continues to be a large factor for your. Lvmh is up and siemens is down by five. That is what we experience. Manufacturing versus services. You go buy a bag. You dont spend money on manufacturing. S p is up by. 7 . We are fading the rally. We are
Reputation and Outstanding Service of 30 years as a democratic senator from delaware. Beginning at the tender age of 29. On the Senate Judiciary committee for 16 years, as both chairman and a ranking member, you have been lauded for writing and leading the legislative effort resulting in the passage of the landmark vie against women act, which provides unprecedented resources for assault survivors and has led to a critical conversation on domestic and sexual crimes across our country. Your concern for your fellow citizens, their health, education, opportunity, environment and total welfare as the 47th Vice President of the Obama Administration and now the leader of the free world is marked by the same tenacity and stellar success you have demonstrated throughout your legislative career and life. Making good on another of your Campaign Promises in achieving what your predecessors coul not, you signed into law the historic 1 trillion dollar bipartisan infrastructure bill providing sort n