Tiktok. The senate will take up the measure next. Well get to all that and more, across the hour. But we begin with the days market action. As we said, were not seeing any major follow through. The dow up 134. Were seeing the s p unchanged because we want to be generous on a wednesday. The nasdaq is down about 0. 3 of 1 . The down is in the green. All eyes on boeing. Thats been, i guess, in a bad way. The stkock of the neyear, nvidi the inverse of nvidia, i suppose. The s p 500 finishing at yet another record high yesterday. If you are counting at home, that makes 17 record highs in 2024. The index on pace for the most record closes in a First Quarter since all the way back in 1998. Can we call that a random but interesting . Who knows . Inflation proving stick than markets, and perhaps jay powell, they thought, given the pivot back in november, so will the fed keep a lid on that bullish momentum for the rest to have year . Joining me now to discuss are my two guests. I cant think of t
Have got to look at the leadership, meaning that has been working day in and day out. That is how you can figure out how to make money. And the dow gained while nasdaq dipped 1. 85 . It may surprise you to learn that there is an index that has been burning like a house on fire. It is a strange index. It is the dow jones utilities average or the utes which they are known as on the street. Still one more powerful session for the smoking powerful amount of the utility stocks that dates back to 1929. Yet this trailblazer started separating itself back on april 16th of this year. You know what . It has been going almost straight up ever since. The Utilities Industries are swaddling back. At this were just up for a week or two weeks, i might just ignore it. But i am sorry. It is flashing red for the economy. Heading for a slowdown. Brown shoes be my term for companies with fading prospects. When you notice one of these index changes, you have to handwrite to the wall street journal archives
Disney, underarmor, theyve all been held by boom rang ceo founders, but has that helped or hurt those companies . We have a special edition of three buys and a bail. Todays market has been a bull run so far today. Were off the best levels so far, but we have north of 1 gains for the major indexes. The dow currently at 38,652, up north of 1 . Its a similar percentage advance for the broader s p 500, large cap which sits at 5121. The reason why that level is important is because 5129 is the level a lot of traders are watching right now. That level represents the current 50day average price of the s p 500 on a rolling basis, and that has been the upper end of the trading range for the s p 500 going all the way back to just around april 15th. So its been an area of neartomedium term significance. If it can break through that, who knows what happens . A lot of people watching to see if this is a resistance area for the broader s p. The nasdaq up about 1. 75 , 16,136, led in no small part by
Investigated as a possible factor in the mexico fireworks market explosion. Officials say some of the stalls may have been too crowded, at least 35 people are dead and dozens more wounded. Authorities say the death cold still could rise and badly burned children are being treated in galveston, texas. Global news, 24 hours a day, powered by more than 2600 journalists in more than one to 20 countries. This is bloomberg. Scarlet live from bloomberg headquarters in new york. Im scarlet fu. Joe and im joe weisenthal. Scarlet stocks are retreating with indexes recovering from alltime highs. Joe the question is, whatd you miss . Scarlet the Italian Government may have to rescue monte dei paschi after they dropped their efforts to bring in capital. We will take a look at why this could be trouble for bond holders. And weighing in on potential changes for banking regulations could lead to large returns for wall street. Thein a special sit down, jpmorgan ceo, jamie dimon talking about detroits r
It could do for millions of americans. And far far away. A festival inspired by star wars. Many africanamericans in ferguson missouri, have accused the Police Department of excessive discrimination and force. That was before the killing of Michael Brown. This time, its coming from the Justice Department. Usher has more. Weeks of protest followed the shooting of Michael Brown in ferguson, missouri. Attorney general, eric holder promised a thorough investigation. And now data of the Police Reports over the last two years, and they showed that the police unfairly targeted blacks. They make up 60 of the population, and they accounted for 96 of all arrests. And blacks were twice as likely to be searched as whites and less likely to have drugs and weapons. 84 of the time force was used against blocks. The department of justice looked at statistics, which quoted a disproportionate number of blacks were subject to prostitution, jaywalking charges, and 92 of disturbing the peace charges. The st