Listen ski. How many of you are members of the Commonwealth Club. If youre not a member, this is a great time to join. There are all kinds of terrific programs, there is buildings like with a great roof deck and a gentleman named billyat the back of the room. He will be happy to answer any questions you have about joining the club so see himon your way out. These take a moment and turn off all your cell phones. Any devices that might make noise and while youre doing that tell you about upcoming problems of the Commonwealth Club. On october 31 halloween, fair will be with us. On november 12, theres not a comment in that area just so you all know. November 12 rich lowery will be our guest. November 12 in the eveningin Silicon Valley legendary 49er jerry rice will be with us. And on november 15, actress Mary Lou Henner who many of you may remember from taxi talk about why she has a unique condition thatallows her to remember everything in her life. Very interesting program. The Commonweal
It slashed its Sales Forecast for its Covid Vaccine and therapies late on friday. Shares not going to be down ahead of the open. Watching apple. Reports of disappointing iphone sales in china. Lets begin with the new week for the market. Its going to have something for everybody. Were going to be on the lookout for geopolitical headlines. Earnings season will heat up. The fed speak calendar, sara, is insane. Its heavy. Theres a lot of them. Whats interesting is that fed speak has moved from hawkish to dovish now for the markets because increasingly, youve got a number of these fed speakers saying, were okay waiting and seeing the impact of our higher rates. Theyre not expressing any kind of alarm or panic over the fact that Inflation Numbers have come a little bit firmer. Cpi last week was firmer. Expectations in the university of Michigan Sentiment number on friday were a little bit firmer, and the data overall has continued to not point to recession, but it does feel like the groupth
International demand still strong . Wee well check in with that. Looking forward to both of those interviews. This morning as optimism has faded as bond yields have turned higher once against. The nasdaq, the s p down about half a percent. We were up more than 31 . Were down nearly 6 , and the key number were watching, call that, yes, correction territory. The question is, why . Whats changed . For more we turn to michael santoli. Mike, maybe i mention treasury refunding in early august as a possible catalyst. Obviously its part of the mix. If i boil it down among the asset markets that are testing the they areholds, its not just a level, but a somewhat disorderly selloff in treasuries thats also nonfundamental. Yields going up for, quote, the wrong reasons all of that stuff is in the mix, with the market entering august, where where you had soft landing consensus got pretty cozy. Then when you have energy and the dollar also closing off some of the escape routes, so to speak, i think
The idea of a soft landing. Sticking to his guns. First up, on the markets, the s p has gone negative. We started out higher, but lost the gains pretty early here in the session. Down 0. 1 on the nasdaq. The s p holding up a little bit better. Groups like industrials and Education Services are all up, materials too, but its utilities, health care, financials, Consumer Discretionary and staples that are weighing in. Its kind of a mixed picture on the nasdaq, too. Because costco and amd are helping on one side, but apple is weak again and amazon is under pressure as well. So is microsoft and tesla. Got a little dicey here in the last few moments. A few days away from a new month of trading. The question on a lot of investors mind is whether the low we saw this month will carry deeper into the fall. Our next guest says feds higher for longer messaging will remain difficult for the markets to digest, but he does see reason for optimism on the horizon. Joining us this morning, yungyu ma. Pe
Off more than 10 of its staff globally, ceo elon musk saying the company is looking for cost reductions and to increase productivity. Financials in focus again. Goldmansachs topping firstquarter estimates fueled by trading and Investment Banking. We begin by kicking off a new week for the markets, geopolitics on the front bunner. Were watching some of the risk premium in oil, back below 85. Brent, off 90 once again, but what an eventful weekend. I think some people might be surprised to come in and see Oil Prices Lower after the events of the week. Eurasia group says the size and scale of the assault by iran is greater than Eurasia Group anticipated, but there is hope, as you say, carl, and potentially some signs that we might have a diplomatic sort of response by this. Its certainly what the u. S. Is encouraging. Unclear what israel is going to do. Obviously, the next few hours and days will be decisive, because wall streets trying to figure out, is there going to be an escalation of