I am dani burger in london. Holding steady, philly fed parker said the end of the hiking cycle may be near with potential cuts to come next year. Treasuries extend a rally. The u. S. Curbs its ambition bloomberg learns that investment into restrictions in china are more limited than first expected. Plus, after bank stocks stumble, italy clarifies its new tax on windfall profits, saying it will cap. All right, we are going to give it get earnings but first let us look at markets because it has been quite the rally in the 10 year yield. We saw a drop by six basis points yesterday. Most of the gains on the front end of your screen happened during the asia and europe session. Those gains are maintained today, about two basis points. If we can have such a risk off day, such a flight to haven, flight to bonds on such little information, we have a lot about banking stocks we knew the picture for regional banks underscores the fragility of the summer market. Let me show the stocks because yest
Elon musks purchase of twitter. How much have things changed in a year other than the name youre watching getting answers . Im kristen sze. A year ago today, the billionaire ceo of tesla forked out 44 billion or at least put that funding together and took over the San Francisco bay social media platform known for its little blue bird role as the worlds public town square, the go to app for real time information. Musk promised changes and he delivered, perhaps not unexpected ways, though. The New York Times has two prominent stories today looking at the consequences of his ownership of the company, now renamed as x. And joining us live now is the New York Times tech reporter ryan mac. Ryan. Thanks for your time today. Thanks for having me so what was elon musks promise and stated mission when he took over uh . Well, he made a few promises. You know, and his had many ideas with this acquisition. I mean, this idea of preserving free speech, for example, but also, you know, continuing alon
Electing a speaker of the house. But theres still no guarantee theyve actually got the votes to make that happen. Explain why coming up just ahead. But first, we are moments away from a live announcement from the San Francisco unified School Districts Teachers Union. On whether a strike vote has been made. From the bay station, youre watching kron. Noon. Thanks so much for joining us here on kron. 4 news at noon. Im Stephanie Lin happening right now. This francisco unified School Districts our other. The Teachers Union out there is working on announcing the results of the teachers strike vote, affecting some of their 6,000 members. So were going to work bring to you live in just a moment here. In the meantime. We have some coverage from our will tran on this. Its take that story. No matter the results that we will find out at noon if the teachers vote to go on strike or not, you wont have any problems dropping off your child inside the classrooms today. Probably not a problem tomorrow
Traders are recalibrating their expectations and the two year yield is a touch under the 5 level once again. You are seeing massive volatility in the bond market in a week with a lot of auctions. The 10 year yield is it is a sex base at basis point is a six basis point move higher. Gold is on the rise and has been a favorite asset for traders all year long, one half of 1 higher. Some midday movers on the equity side we will start with caterpillar reporting Quarterly Sales lower than a year earlier and the trend is expected in the second quarter. They said sales would be largely in line for 2023 but that now seems to be shifting. The Company Beat Expectations in almost every quarter since 2020 and we will talk more because in addition to that 7 drop in caterpillar, meta is dropping dramatically more than 12 . The Company Announced it will spend billions more than analysts expected on its ai efforts. Mark zuckerberg is asking investors for patients. They are not patient today and he says
Pennants. If you want a nick foles quarterback balloon quarterback, you skran that, too. Reporter the delizio family is all dressed in eagles gear and anthony is noticing something about the customers. Everyone is happier when the eagles are winning. Youll see those happy customers on sunday because being a big fan doesnt get him out of working that day. That gives him a little bit of time. They close here at 4 00 so it gives them a little time to get home before that game. And if you are prepping for your party, they have made some extra beef gravy, extra pork gravy, if youre making your own sandwiches. They can also make you something called hoagie dip, which i have not tried but it sounds pretty good. Im lauren mayk. Samples perhaps . Taking a live look at lincoln financial field. The birds one win away from going to the super bowl. In the past couple of hours, we heard from the man who hopes to lead that team to victory. Much of the credit for nick foles success in philadelphia bel