I know. Alltime highs we have like, what, 39 trading days to go is that it . It is a tight time frame here the interesting thing around the market is it has shrugged off concern. One of the reason the market has gone higher is because of really light positioning. That mentality hasnt changed. That has fuelled the rally in the market you see the dow in the green but just barely. Nasdaq futures down by a point again, we are sitting at new highs after the gains we added on yesterday you look at the treasury market yielding 1. 85 xerox looking at buying hp. The company has an informal funding commitment xerox has a Market Company a third of hp. Both of these companies former technology stall waters. Xerox has had a couple of falls. Do people steel xerox things it is like faxing. Hp has tried to keep up it is like help me im drowning. Hp shares are up. Xerox somehow is the acquiring company. And there would be a premium to hps market cap. I just get depressed reading this xerox already scra
Stuart 10 00 eastern time. I feel good. It is indeed 10 00 eastern and well go straight to the money. Not much Price Movement and the nasdaq down and now its up 14. Other than the nas dab, not that much movement. Ten year price to the treasury. Wheres the yield . Moving up a little 412 on the 10 year. Watch that carefully because gasoline prices going up and oil at 83 a barrel as of this morning. Bitcoin priced at 29 grand. We have numbers on consumer sentment released about one minuting a. Lauren, whats the number . Lauren slightly better than expected and the number for august, 71. 2. Inflation expectations, this is big after all the inflation reads that weve gotten this week. Inflation expectations, one year out went from 3. 4 slightly lower and stayed at 3. 3 and steady as she goes. Current conditions were feeling good and that number is stronger than expected and Consumer Expectations are feeling not so good and that number, the market did nothing on this report. Stuart thats the
U. S. Equities will open higher 183 points higher. Nasdaq opening 107 points higher s p looking to open 25 points higher treasury yields sitting at 4. 011. The 2year treasury at 4. 79. We were down five of six days in the s p that is the case sdplchlt to see th z to see the markets showing the cp oi print. You think the mood is a mini bear i do totally. People are looking at this and the question is not a break in the trend, but how much of a break . Let me take cash off the table. I have been waiting so long. I dont mean the rally is over we were talking to different people 10 pullback would be healthy. Down 2 or 3 from the highs, yeah i thought it was tom lee who was talking about that 100point week now more choppy. I wonder if were in the chop. I think we might be. We have the key inflation data due at 8 30 a. M july cpi expected to rise. 20 on the month and 3. 3 for the headline for the year. We also have my personal favorite with jobless claims. Why is that your personal favorite
Bit. This is what happened here. The 2year treasury yield topping 5 after fed chair jay powell made his first comment after the hotter than expected data. We said its moving sustainably toward 2 before proemtsly easing policy. The recent data have clearly not given us greater confidence and instead indicate that its likely to take longer than expected to achieve that confidence. Powell echoed recent statements by other fed officials indicating the current policy level will likely stay in place until inflation gets closer to its target. And so effectively, andrew, hes saying the data has been coming in increasingly hot. Weve been trending toward it. Now the question for the markets is will we have to establish a new trend and is the bar even higher to start cutting rates. Weve seen banks push out in september, which is 68 at this point. Some have said maybe none in 2024. Maybe its 2025. Can you believe were at 7 . Thats always crazy. I dont think the street should have ever been at 7 or
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