Australia. Im paul allen and sidney. Im Annabelle Droulers in hong kong. Good evening, from new york, im shery ahn. The top stories this hour u. S. Stocks extend their rebound for the fourth session with traders looking at a harder than expected ppi reading to focus on less hawkish fed commentary. The fomcs latest meeting meetings, showing officials agree it is time to proceed carefully. Also ahead, israel forms an emergency unity government as officials indicate they are preparing for massive military a massive military assault on gaza. Take a look at how u. S. Futures are coming online in the asian session. A little bit of upside after we saw stocks moving higher in the afternoon session in new york. The s p 500 gaining ground for a fourth consecutive session despite the fact that we got the harder than expected Producer Price inflation reading. We had the atlanta fed president today talking about how the central bank does not necessarily need to keep tightening unless easing inflati
Retaliates declaring war and launching air strikes. Uncertainty creep into the European Equity markets. Shares in the oil majors and Defense Companies makes solid gains. Oil prices jump, but in an exclusive interview, Saudi Arabias Energy minister tells cnbc that opecs ability to stabilize prices should not be underestimated. I believe the best thing i can say is the cohesion of opec plus should not be challenged. We have been through the worst. I dont think we will have to go through any terrible situation at all. And global policymakers and central bankers descend on morocco a month after the deadly earthquake rocks the country. It is monitoring develop ments n israel and gaza, but it is too early to assess the economic fallout. Our top story is the Israel Defense force confirmed at least 700 israelis have been killed after a Palestinian Militant Group hamas launched an attack on the country. The idf warned the number is expected to rise with thousands injured. Israel has formally de
Australia. We are counting down to asias major market opens. The top stories this hour. U. S. Stocks rise at fed speak. Oil holds on fears of an expanding middle east conflicts. Haidi Benjamin Netanyahu says retaliation has only started against hamas, who says they are prepared to kill hostages. Shery but also facing criticism. We saw the s p 500 gain ground today, everything earlier losses. We did get a couple of fed speakers suggesting a more cautious policy approach given the high treasury yields perceived as more dovish so we had u. S. Stocks gaining ground in todays session despite the water risk of sentiment. We also will have cash markets not open today because of the u. S. Holiday. European rates also railing. Expect to see cash trading resume in the asia session in a couple of hours so we could expect yields to slump. Meantime, oil prices continuing to rally at one point in the new york session getting more than 5 . We are still at the 86 barrels 86 per barrel level. Take a lo
Weve got United Health, bank of america, Morgan Stanley, Johnson Johnson also beating on the bottom line, although different reactions in the markets. Sara eisen sits down to ecb president , Christine Lagarde discussing inflation, Interest Rates and where the central bank is diverging from the fed when it comes to rate policy. Stocks look to rebound again, similar picture in terms of the premarket yesterday. We know how beholding the market is to some of these headlines. For sure. The yields are basically still pushing higher at a pretty moderate pace, but in service of the pain threshold for stocks and the economy, this has been a similar backdrop to what we had late last year except with the economy in more secure footing it seems. We basically unwound this idea, you can have the eem mat lack disinflation, talking about the economy almost in overheat mode. What have we done or accomplished in the markets so far in april . That long streak of no 2 dips in the s p, thats over. One of t
Scooped all the bears. Thats where our road map begins this morning. The inflation picture, of course, is what were talking about. Weve got wholesale prices increasing less than expected, as jim just said. Two banks also lowering their rate cut expectations. Thats off of yesterdays cpi news. Were keeping an eye on big tech as well. Nvidia shares, theyre bouncing ahead of the open. Jpmorgan, lowering its apple price target, and you just heard from amazons andy jassy, saying so many Different Things, including the fact that hes committed to costcutting while investing in a. I. Plenty of other stocks to track this morning. Nike, airbnb, chevron, occidental. Well go through all the upgrades and downgrades. Lets get to the Broader Market here. First, lets get a reaction to ppi after yesterdays selloff on the cpi. There was a lot to like. I think theres a lot of confusion about these numbers. I find that whats happened is that yesterday, there were a lot of mistakes in the data. What do you