For equities you got stocks trading heavy bank of america says Fund Managers are overweight. Tech the most since 2021. Is there even cash left to buy any dip here from new york, im alex deal with my cohost in london, guy johnson. Welcome to bloomberg markets. Not as intense as it was a few hours ago, but were definitely seeing a strong up risk off kind of move within the market. Diy and holding up those are two things you never want to hear in the same sentence because it really does. To be honest, im just talking about from personal experience. The consumer thing i think is fascinating. Look at what is happening. You got strong wage data out of the uk, youve got marks and spencer, a stalwart of the british high street, coming out and announcing really strong results on your side of the pond. Home depot back to the to the diy thing. The numbers look good. Yeah. Structurally, i think theres a long term positive story, but what but a couple of things. I mean, one, gasoline prices are qui
Link, hightower chief investment strategy, cnbc contributor and pretty good golf im told. Hmm not so much. Good to have you on how do you review inflation data and did it change any of your expectations about race, the fed, the markets and it didnt change my thoughts. We are making progress, though, brian, on the numbers. Right . Look at, say, cpi, 4. 7 year over year, 6. 6 at peak. Making progress. The problem, rents are still sticky, 99 of cpi shelter. And increased. 5 from. 4 number is getting to 2 where the fed wants get to to for cpi. A long ways off. Then look at, by the way, you follow energy really close right . Look at ppi numbers today. Acceleration month over month in headline number. Nots even including the 24 gain in Energy Prices from the june lows i think next month, next couple of months, youll see elevated ppi numbers. Then add in the economy, which is a real bright spot. Nobody thought we would see gdp accelerate each quarter this year everyone said beginning of the y
Stories, 6 00 a. M. On the east coast, markets extended losses as tech is pulling on the major intimacies, the Ripple Effect from the u. S. Downgraded credit status gallon gesture, nasdaq, s p 500 lower after the close the most highly Value Company apple at 3 trillion market value coming out with earnings along with amazon in numbers tonight we are previewing this morning. Initial jobless claims at 8 30 a. M. Eastern before the july job report dropping tomorrow. Check european markets, the bank of england making his decision on interestrate at 7 00 a. M. Eastern going into the number stocks are lower. In asia overnight check at the markets it was pretty much mostly lower with the exception of China Shanghai a small gain. President trump is expected in washington, d. C. This afternoon facing four charges related to the special counsel case on january 6. Meanwhile as President Biden lounges on the beach some coverage of the stunning testimony of Hunter Bidens former business associate de
Questions being asked at this weeks Global Ai Safety Summit in south korea. The second of its kind, it is co hosted with britain after the inaugural event in november last year at Bletchley Park near london. Francine bennett is interim director at the Ada Lovelace Institute an independent Research Institute specialising in al and is in south korea for this summit. A very warm welcome to the programme. So first of all, what will be achieved in seoul, do you think . Do you think . Well, thats a aood do you think . Well, thats a good question. Do you think . Well, thats a good question. I do you think . Well, thats a good question. I hope do you think . Well, thats a good question. I hope what| do you think . Well, thats a good question. I hope what will be achieved in seoul is moving on from the conversation from the Bletchley Summit Last year. So we had some really good initial conversations there, and i think what wasnt to see is shaping the development of this, potentially very new te
Far will potentially put your parents in greater danger . Parents in greater danger . I mean, i think there is surface and under surface, and im not aware of whats the undercurrent is so , you know , i undercurrent is so, you know, i dont think that this government is what i would have hoped for. But i dont think its the time for politics. Yes, they are. The people negotiate eating my communities like if and i have to put my trust in them and at the same time call on every government in this world to almost expect of them to protect their citizens and work for their citizens and work for their release, its very easy at this point where something so horrendous happened to simply wish to revenge on your enemy because there have been so successful. So my wish is that successful. So my wish is that they care for their citizens and that they put them into the equation. No. I that they put them into the equation. No. I i will that they put them into the equation. No. I i will echo what equat