Welcome to squawk box. Im Andrew Ross Sorkin along with joe and melissa lee, becky is off the s p looking to open about 12 points higher. Well explain why some of this is happening and lets show you treasury yields as well the ten year note right now looking at 0. 931 . But maybe a little bit of an explanation coming up here, melissa . Yeah, some optimism Mitch Mcconnell said that compromised deal was within reach and well get a live report from washington at 6 30 a. M. And we heard it before, but it seems like btoth sides are comig a little closer. On a much lower number. And im just thinking about, i dont know, andrew, what did we do to deserve this i mean we are living right or i mean, who ushered in the new week on squawk box on monday who is helping us usher out the week that was on squawk box . A monday and a friday. Is this46 w was this planne melissa, what did we do to deserve this not wouldby not by me how long has it been, stimulus vaccine i guess the election, although we do
Traders we up the rate cut bats as u. S. Job data disappoints to the downside. We sit down with the cfo of coinbase to break down the companys firstquarter results. Its good to our top story. That top story is apple. Shares are on track in the moment for the biggest jump since november 2022. The biggestannounced buyback in Company History probably has some part to play in that, but then there is the story that is simple. Things were not as bad for the iphone in the calendar quarter as we thought they might be. And then there is the question, what on earth is apple doing in the round of generative ai checkup lets get to mark gurman. Long day for you yesterday. I think that sums it up. Not as bad as we had feared. But we still have questions about the path forward. What did executives tell us last night . Mark i think you are exactly right, as always. Things were not as bad as we anticipated. Wall street anticipated, with their estimates. But things were not great. They still had about a
The nasdaq 100 is up about 2 on the day. The two year yield is fighting stability around 480 two into the week, seven basis points lower on the day. Even todays volatility does not show you how crazy it has been, about 5 days ago. The 10 year yield around 450, seven basis points lower. The equity side, apple posting a stronger than expected sales last quarter predicting a return to growth in the Current Quarter despite a drop in revenue. The board approved 110 billion of a share buyback, the largest in u. S. History. Expedia shares are following falling after bookings missed estimates First Quarter cutting Sales Forecast for the years. Weakness in vrbo. And in the amgen ceo says early results from a study of its experimental obesity drug. Amgen is up more than 12 on the day. The job support misses putting a 20 24 Interest Rate cut back in play for the fed according to investors. Mike mckee asked the former st. Louis fed president jim bullard about the fight against inflation in the wak
Intelligence help hedge funds outperform . We will break down the results later this error. Let us check on the markets. The good news is bad news today, the job strength in jobs performs shows job openings were higherthanexpected enemies we are down on the nasdaq at the moment. We saw a little bit of buying yesterday maybe some profittaking. We are looking at the 10 year yield higher by 10 basis points. The 30 year at the highest since 2007, getting calls for a 5 level and we are looking at strength in the u. S. Dollar with maybe a fed having to remain hawkish. This is the strongest the dollar index has been in about 10 months. What does that mean for another key asset . We are up by 1. 1 for bitcoin. There was some buying yesterday so is it profittaking or it looking toward the trial to Sam Bankmanfried . We know he is facing charges that he swindled aliens of dollars from his crypto platform. He swindled billions of dollars from his crypto platform. Tell us exactly the state of play
Worth in q four the Fourth Quarter and bank of a big bank of america rather still posted a profit of two point three seven billion even given that loss and they take it as a sign from analysts that the bank has gotten past a fairly rough period. Ten. Market watchers are buzzing over news that General Electrics leadership is considering a breakup of the iconic u. S. Megacorporation c. E. O. John flannery had floated the idea before and said tuesday that g. E. Is quote looking aggressively at many permutations the story is big if true and as they say well keep an eye on it but to give you a sense of how big it is archies ashley banks joins us to explain what a breakup of this Mega Corporation would mean and how all these pieces of the puzzle could be put together or apart actually well barred wall street is now scrambling to evaluate the standalone value of g. E. s visit says now over the last year the companys stock has been the worst performing on the Dow Jones Industrial average accor