Leading financials and industrials as well. I. T. , information technology, the only negative sector that goes handinhand with the nasdaq. Crude oil is down on the session at 8666. Our chart of the day, nvidia sharply lower but off its lows of the day. The move comes as the white house restricts the sale made for the chinese market. Our Kristina Partsinevelos is live at the nasdaq with more on this developing story. Kristina, whats the latest . Reporter we were talking a year later, the Biden Administration is realizing their controls werent enough to stop chinas military from advancing in ai. Thats why today the list of restrictions is growing to include even more advanced computing chips as well as close any loopholes that allow companies to send ai chips to china directly or through intermediary countries. Companies that want to export ai chips to china or other embargoed regions will have to notify the u. S. Government on a casebaycase basis. Additional equipment will impact names
Plus, the other big piece of the market puzzle right now, earnings. Well trade some big names which reported this morning and preview some of the names due out after the bell, including amazon. But first a check with the markets with two hours to go. The s p 500 trading by 40 points. Small caps the key laggards as we watch the dollar strengthen. Gold is down by 0. 2 . Big mufr to up the side, eli lilly raises guidance thanks to sales of the obesity drug which exceeded half a billion dollars in the quarter. Way ahead of expectations. And here is a few of the other big names were watching for after the bell. One would be amazon, two would be amd and the third would be super micro. Two out of those three are lower but amd is higher by half percent. We begin, however, with the fed as we are just 24 hours away now from the decision on Interest Rates. Widely expected that the fed will keep rates unchanged. Our next guest doesnt see a cut tomorrow but is sticking with his forecast for three r
The desk. Adp was weak. Yields came down a bit. How do you see things here . J. O. L. T. S. Strong, adp weak, the ten year at 4. 88. A reprieve at 4. 70. Its rates, rates, rates. If rates come down youll see names like tesla go up, some utilities will go up, youll see the stocks that have been the most beaten down move higher. I think, though, we have to settle in that although were not going to get this parabolic move weve seen continue to go higher that now, though, the ten year ceiling was 4. 25. That is now the floor. Now i think were going to bump along and that will be challenging longer term for the market. But right now it looks like a good old bounce. Lots of folks, joe, watching the yield curve including jeffrey gundlach. Should put everyone on recession watch, not just a recession warning not just recession watch. If the Unemployment Rate ticks up it will be an alert. Do you want to opine on that as we are transfixed by the bond market . The exact place within the market. In
Tom it is a mugshot of in yield and it is very technically elegant. Dean curnutt to start is strong in the 6 00. He will talk about that. A massive correlation in currency markets. Jonathan yields of, dollar stronger . Tom dollar stronger but it is the way the dollar is stronger. Maybe the japanese are fighting to keep the yen off of 1. 50. The answer is markets are moving. Tom can this equity markets jonathan can this equity market lived with it . Equities could work in a hybrid environment. The s p 500 returned 15 every year from 1985 to 2005. When will rates were 2. 5 , can we live with these rates . Lisa this is a key question. You are saying an increasing number of analysts come out and capitulate, whether it is Morgan Stanley or goldman sachs. Yesterday, tech stocks outperformed. Where is it going to hurt . It is counterintuitive. Jonathan manufacturing is getting better, not worse. Payrolls on friday. Tom the numbers are getting better. Lisa on one hand you could say you are see
Just a morning here in moscow youre watching international all of us here a very warm welcome to. North korea and south korea are holding their First Official talks to us. Taking place right now in the Demilitarized Zone between the two countries and here is what preceded the negotiations and the reopening of across the board a telephone line and the following day donald trump agreed to delay military drills with sold until next month. In south korea. This morning. Do we know anything yet any agreements yet to come out of these talks that are in effect happening. At this moment its all very sensitive and secretive given that you know this is the first meeting face to face meeting between the two sides in two years and its been a heck of a year with all the saber rattling with all the missile launches the war games and you know what gives it away is where this is taking place along the most heavily militarized border in the world the most heavily mined border in the world were getting b