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And rh raising guidance. The next test for the tech ipo market today. As we said, oil prices are the one to watch after two oil tankers were the targets of a reported attack. The navy says it is aware of the incident and is assisting the two ships. The exact circumstances are unclear, but it could ratchet up tensions between iran and the united states. Jim, 20 of Global Consumption goes through these are straits. That area could get much hotter. Second, how little we actually oil is up a little bit. Remember, it was down 170 yesterday. I had the privilege of interviewing the dean of the the founder of pioneer. He said we will have a flare up in that area. And its not going to matter. I said when. He goes now. We are pumping so much oil. Do i take it off my screen what happens there . He said yeah. I said thats not possible. He said we are 13 million. We are going to 17 million. Anybody who needs oil, we are now the swing produ ....
Are being led by an outrageously bullish combination of stocks, that should not be going higher at the same time. Nobody wants to say it, but i dont know if i can recall a moment where we had such disparate stocks climbing together to new highs. You asked me a few weeks ago, i would have told you this combination today is not conceivable. That is what has happened. Dow getting another 350 points today, s p, record close. Nasdaq, you guessed it, record close. This actually defies the whole nature of the conventional wisdom of what can happen when we are at this part in the cycle. For the old days, crashing in 2008. We would be celebrating daily today, so now in a certain respect, they just try to ignore what is happening, so they can o back, go back to talking about how the consumer is tapped out, or something we learned about from some incredibly weak retail Sales Numbers just this morning, or how inflation is still raging, and it ....
Jonathan lets get your morning started. Live from new york city this morning, good morning, good morning. This is bloomberg surveillance. The s p 500, bouncing back from a strange day of losses, positive by zero point 6 . We said this yesterday after chairman powell spoke, the presser ended almost as soon as it started. The top line headline, restrictive with nothing else seemed to matter. Lisa taking off the prospect of rate hikes took away the tail risk of them becoming even more restrictive and repeating that they are on the right path. That was the entirety of what was accomplished. It seems like this puts it back to where it was before. It is in the hands of earnings and it raises the question of on the long end, how much will this reaccelerate . Jonathan the fed will cut as soon as the data allows. Bank of america, hes in a wait and see mode. Deutsche bank, hard to say it was a dovish meeting, but given the recent inflation print, it could have been more hawkish and its difficult ....
[background noises] [background noises] the committee will come to order. Without objection the chairs authorized to declare recess of committee at any time. Im before we begin secretary has informed us she has only two hours available for this hearing. So in the interest of time Ranking Member and i are remedying ourselves to very brief Opening Statements we are asking the secretary to do the same. Additionally we get as many members as possible a chance to ask questions. And in concurrence with the Ranking Member i ask unanimous consent to limit each members q and a to four minutes without objection. So ordered. Out also like to request unanimous consent to submit to statements for the record for bt the first is from chairman lucas who could not be with us here today. As you know he has had a terrible accident with ....
[background noises] [background noises] the committee will come to order. Without objection the chairs authorized to declare recess of committee at any time. Im before we begin secretary has informed us she has only two hours available for this hearing. So in the interest of time Ranking Member and i are remedying ourselves to very brief Opening Statements we are asking the secretary to do the same. Additionally we get as many members as possible a chance to ask questions. And in concurrence with the Ranking Member i ask unanimous consent to limit each members q and a to four minutes without objection. So ordered. Out also like to request unanimous consent to submit to statements for the record for bt the first is from chairman lucas who could not be with us here today. As you know he has had a terrible accident with ....