Jim, jon and shannon lets get a check on markets this hour. Stocks are plunging again. Off theirs worst levels and the nasdaq is the biggest loser of the day led by the Technology Names. The dow was up at one point this morning almost 250 points. Now has done a complete uturn and is down triple digits ina big way. Theyre off 425 points thats off the lows of the day the last couple of days, has it made you frightened of what could be to come no. Not at all i think this is healthy profit taking i think whats going on is this massive rotation from growth into value if you think about it, the russell 1000 growth index even after this pull back is up 21 year to date you know that apple and nvidia and zoom are up 340 from the march lows in is healthy i think the rotation makes sense. The reason it makes sense is because the Economic Data continues to surprise to the up side were recovering faster than anybody thought. This is on top of yesterdays data part of consumer manufacturing now youre
Disney shares moving after hours. Obviously, it has been a tough quarter for theme parks. Many theme parks still not reopened around the world. The ones that are open have limited capacity. Missing estimates on new streaming subscribers for the disney plus service but estimates but subscribers still coming in huge. Abigail doolittle has been following the market overs. Disney and activision as well. What are the theme this you are pulling out here . Abigail the bulls are just out. Nasdaq 100 for the on tech strength. Bonds slightly higher as well. That points to the uncertain d, will a deal get done . Down into this quarter about 20 year on the year. They just reported what some are calling a doomsday quarter. However, it is not as bad as feared. A big piece of it, those subscriber and streaming numbers. A modest miss, but right in the ballpark. Million more than 100 streaming subscribers. The fact that it is less bad, you have that stock up. A good quarteron but not quite enough. The
Saw on friday, you got to remember that this president doesnt want stocks to go down he wants stocks to go higher and thats how you get a day like today where the dow gained 270 points and s p claimed and the nasdaq pole vaulted to 1. 23 trump knew things looked bad after fridays sell off. He decided to Say Something positive and turned things around did he call them did they call him there was a call people, thats beside the point. On friday the president took a harsh stance talking about boosting tariffs and demanding American Companies leave china immediately. He says the chinese called him willing to negotiate that was enough to give the market lift even though were getting conflicting reports about what happened. The peoples republic has officially denied anyone called trump. On the other hand, trump got two calls because the chinese are desperate and knows he has the upper hand who is telling the truth i got to tell you, i was amazed how quickly most of the media rushed to decide
Negotiators are coming out and saying china is a problem. Resident negotiators with no deal odds rising. The timing is a hint there may be a willingness to talk. Rosalind another round of earnings reports sends signals about the Global Economy. Xiaomi is facing headwinds on a number of macroeconomic fronts. Certainly in europe, there is no question we are seeing , weakening. Rosalind Federal Reserve chairman jay powell speaks at jackson hole. And bloomberg gets exclusive insight. We are at a sort of equilibrium right now, and i would be happy to leave rates here. We have to be careful not to ease too much when we do not have significant problems. Lower rates will stimulate our economy somewhat. I dont see this as the end of a ratecutting cycle. I think right now we are where we need to be. Rosalind it is all straight ahead on bloomberg best. Hello and welcome. I am rosalind chin. This is bloomberg best. Your weekly review of the most important Business News and analysis around the worl
With noent negotiators deal chances rising. Another round of earnings reports sends signals about the global economy. Show me facing headwinds. Jayederal reserve chairman powell speaks at jackson hole. Of are at a sort we have to be careful not to ease too much when we do not have significant problems. Lower rates will stimulate our economy somewhat. I think we are where we need to be. It is all straight ahead on bloomberg best. Hello and welcome. I am rosalind chin. Bloomberg best. Lets start with a day by day look at the top headlines. On monday, markets responded positively to news that trade tensions. The Commerce Department announcing the u. S. Will review days soei waiver for 90 companies can continue to do business. They have 90 days for limited part of their business. This extends a reprieve. U. S. Customers of huawei, particularly those who run networks that depend on equipment. Headsetpliers of the business. Itsre looking at google and android software. This allows google to