And joe santoli. Joe and andrew are off today with the storm and everything going on, thank you for being here it was one nasty storm. It did a number when you think about businesses dealing with a lack of power, it is like the plague coming down well start this morning with the markets. Nasdaq with the fifth straight positive day up 22 for the year to date. Pretty good day for the dow and s p. S p indicated up close to 20 points the dow up close to 200 points and the nasdaq up as well. The treasury story has been incredible yesterday, the 10year note at a record low this morning, the yield is at. 526 it seems the context is the same, which is the dollar weaker you see that downward pressure foreign treasuries can buy our equity yield we have bond yields below inflation. That means huge tech stocks that means gold and bonds b. What are the implications for this market and the companion market corporate wise, you have earnings better than give uptype forecast analysts could have a good
Of maniacs who invest in the stock market nasdaq, declined. 22 , you got to remember that rising bond yields like we got today and much of this past week, make investors feel more confident about the economy. When you see the yield in the benchmark moving higher, it makes you feel like we can avoid a recession. Regular viewers know i think the fears about recession are overblown. If anything, we have had a mild slow down. We could reaccelerate if the Federal Reserve keeps its strategy of cutting rates. Why didnt i buy the argument the recession, because their whole thesis was about the bond market itself. Remember the inverted yield curve when long rates went before short rates, they told us that was an infallible sign of slow down. I thought it was a false tale. I told you that. Treasury yields, our rates are so much higher than the rest of the developed world. You had tons of foreign money flooding our bond market pushing prices up and yields down. Now the smoke is cleared, and its f
On squawk box, mohammed el. S p giving back about 40 of the gain from friday. If you look at a longterm chart, its hard to identify these conflict points as being turning points. That being said, the market is in a rational, localized way, punishing those groups that seem like theyre going to be, perhaps, disadvantaged, like the travel related. You get a bit in defense and energy. Its reflex. Theres a lot else going on. We kind of had a cushion because oil prices backed off from their highs. Treasury yields, theyre proxies based on futures and etfs look like theyre easing back a bit as well. You know, i think sentiment was already pretty reserved. It wasnt like everybody was bullish and excited. Therefore, there wasnt a lot of Risk Appetite to immediately take out of the market. On oil, is there a sense it does anything more than set a higher floor . I dont think so. You can make the case in either direction, it doesnt have much impact or this geopolitical risk premium that should be i
Arm set to set trading in the next few hours. The biggest imo of the year. Stock pricing at 51 a share. It was at the top end of the anticipated range giving it a market cap of 54 billion, 95 million shares were sold. Lets kick it off with leslie as they build towards that first trade. The indications coming in, interesting. You know, they started the morning at about 62. That was the first indication. Fell to about as low as 57, which implies a 12 gain relative to that 51 ipo price. And now its kind of around 57, 58. Still have time before it starts trading. We could expect another hour, hour and a half before its open and off to the races for arm. But its interesting, nonetheless, just to kind of see where these indications are coming on because just kind of gathering some color from investors and bankers and so forth. There was some dispute over exactly where to price this. Softbank doing all of the selling here. The question was, do you price it above the range or do you price it a
Half hour from now it looks likes the s p may be down ever so slightly. European markets were in the red last time i look thank you for spain and for italy, maybe one day well even get a look at the bond market. The tenyear note yield is important right now, particularly given that 2. 14. Wow. Wasnt it supposed to be a 3. 14 yes, i think they were talking around june, at least 3. Not the case a big story were going to talk a good deal more about is oil. Lets get to our road map and start you out with some stocks oracle, shares are up sharply on earnings well look at whats moving that stock. Later, by the way well have an sclouf on interview with mark hurd they want to take a major stake in American Airlines, what is that all about . Smoke em peace pipe . Well try to figure that out to the best we can by the way, what as to yim cramer and Homer Simpson have in common adobes ceo shows us. Hes game. Hes got a demo of its newest product. I want to see that. We have so much to talk about, i