Philadelphia Semiconductor Index and the transports were higher. Aboutw transports up 0. 3 . Wellnot a huge selloff but off the highs earlier. That chip rally not enough to keep the nasdaq in the green. Romaine tesla up 4 today. The biggest mover of the day, apache. They found a bunch of oil. Deeperive a little bit into the action with our markets reporters. Abigail apache having its best day in almost 50 years, all the way since they ipo din 1980. This is based on the Oil Discovery off the coast of serena, of suriname. There is a Short Interest of about 7 . Some of this could be a short squeeze. We are seeing an area where investors are becoming a little bit more bullish. Bonds, whenapache it goes wide, it is ensuring the debt. Last year, you can see, going wide by about 200 basis points. Last year, there was the idea that they may not be able toet oil out of it easily. A hundred basis points. It will be an interesting stock to watch this year. Apache having its best day ever and abou
Good tuesday morning. Welcome to squawk alley. Im Carl Quintanilla with Morgan Brennan and jon fortt live at post 9 of the New York Stock Exchange we begin with text stocks this morning and the continued rally in the sector, another record close, apple, facebook, and alphabet at alltime highs Jeff Richards joins us now along with james lee guys, good morning good morning. Good morning. Thanks for having us so james, im looking at tech stocks up more than 30 in just the last three months. A short list apple, tesla, amd, snap, spotify, zillow. You like facebook and byedo in this market, but how much can you like some of these names given how quickly they have run up yeah. Jon, that very good question we think valuation right now is still very attractive. Look at facebook coming to the year, a lot of investors are very concerned about regulations. I think as we get into the year, a lot of people getting more comfortable because some of the regulatory issues or policy that happened over th
Host welcome to bloomberg daybreak australia. We are counting down to asias major market opens. The top stories this hour. Asia sat for a lower open after wall street fades at the close. The dow jones retreating from the 40,000 level. Host jamie dimon sounding on alarm when it comes to lingering Inflationary Forces telling us the chances for a hard landing are higher than markets thank. Host and a busy friday in china with highlevel talks on the property sector. A third sale of special bonds and april Economic Data that may show a modest improvement. Host we do have south korean jobs crossing the bloomberg. We see the Unemployment Rate for april sticking to two point 8 . The expectations from economists were two point 8 and it is unchanged from the previous month. We were expecting potentially more of a softness. Up to 2. 9 percent. We did see level force participation increasing. But the jobless rate levels around this level are below the postpandemic average of 3. 3 . Bloomberg econo
Thatwould be julie would be one of the many superlatives we have had. The s p 500 earlier touched 2600 and it is nearly at that level. What is curious and interesting is that once again, these gains are coming on no particular catalyst. We have a holiday shortened trading week. We have got this big surge in stocks, technology in particular doing well. This is evidenced by the upsurge in the nasdaq. We also have some earnings reports to chew on. We have got two food related earnings, going in decidedly opposite directions. Hormel foods out with sales that beat analyst estimates, but on the flipside is campbell soup, a decline of more than 7 , the most in a single day in nine years. A cut their annual profit forecast. It is hurt by an ongoing dispute with walmart. Basically, walmart is saying it has been cutting its inventory of campbells. That is taking a toll on the company. I mentioned Technology Shares doing well today. We have some analysts and other types of commentary. Marvell Tec
Will affect business in the year ahead. Away from thetes monday session. For the fourthng consecutive day, best run since november 1 after the strongest weekly gain for the european benchmark. Since may it rose. Currencies falling against the dollar. You have bond commodities closing. We have much to chat about. There is a big to expand medicines for blood disorders. Novo. Ls comes as it has joined a flood of similar treatments from the biggest drugmakers. Competition is heating up. Economic measure of sentiment. From 2012, heading in one direction. It is the highest since 2000. Added to measures of economic activity, the strongest in seven years. Employment continuing to decline in the eurozone. Growth in 2017 was the fastest pace since before the financial crisis. It is forecast to be almost impressive as impressive. Records. Showing that is billy blue. That is the blue. It has 120,000 contracts. Dayinutes into the trading in the u. S. Abigail, how is it moving . Abigail there is mix