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perception that the fed is going to be more aggressive and stocks are going up. it is also a strange world because that perception has not change between yesterday and today. stocks moved kind of sideways yesterday and they are rallying strongly today. major can see, all three averages are pretty much at their highs of the day. the nasdaq has been leading the way because of strength and technology shares today. it is a cyclically led rally today. though sectors most formidable to an economic recovery, so another words, if the us economy is recovering enough so the fed can raise rates, that is the perception driving stocks higher today. making new highs gradually, just a gradual trend upward as it is up by 1.3%. software stocks have been doing well with and technology. microsoft leading the way after upgrading shares to outperform at callan. traders overreacted to the company s last trading report, but things are not going poorly at microsoft. adobe in electronic arts ar ....
after the biggest two-day rally in three months. you can see the dow and the s&p are lower but not by very much. take a look at the volume here. this is the volume by sector. in particular, we see a volume drop in health care of more than 30%. the trading volume is lower as we get closer to the holiday weekend. that is the caveat. that said, when you look at the stocks, they had a big couple of updates with a financial gain, today we are seeing that melt away. we are seeing bond yields come down. they had been moving in tandem. berkshire hathaway are some of the big declines we are seeing and we have more declines trickling in with the jewelry retailer, sickness coming out with first-quarter sales that missed estimates and they cut their first year forecast. some people are saying they are a buy at this point. below is coming in forecast and abercrombie & fitch is tumbling. there is dwindling traffic abroad. interesting here that something that is affecting tiffany s is ....
this is bloomberg surveillance. francine the clot, tom keene in new york. the currency moves francine lacqua in london, tom keene in new york. my number one message is that markets are on the move. you do not see it in equities. bonds,om equities, currencies, and oil are a jumble not lows but nevertheless markets on the move. bp,cine: when you look at the refining margin is nowhere to be found that they are sticking to the dividend. let s get to the bloomberg first word news. bernie sanders supporters ignored his pleas not to protest on the opening day of the democratic convention in philadelphia, many angry over revelations that the dnc favored hillary clinton. sanders did not directly call for his supporters to vote for clinton but made it clear where he stands. mr. sanders: any objective conclude are observer will conclude that hillary clinton become the next president of the united states. taylor: senator elizabeth warren urged reluctant liberals to vote for c ....
today, they are holding at the bubble. julie: we have seen some acceleration of decline. people are focusing on earnings. we will not hear from the fed it fed until tomorrow. actually, things are bouncing around. scarlet is right. we have all of the corporate earnings to shift through, it is the busiest day in the terms of the number of earnings reports. donald numbers were disappointing compared to estimates. 3.1% will believe. analysts are looking for 3.6% gain. if the united states we saw a slowdown of 1.8%. it was 5.4% the prior quarter. analysts are saying there is an interest-free wide slowdown that calling for a restaurant recession. a slowdown from a number of different factors from u.s. politics, terrorism, social unrest, global geopolitics, and economic uncertainty. that this is the canary that lays the recessionary egg. leadingld the a indicator. downgrading a number of stocks. 11 restaurant stocks. chipotle going to a cell. darden is down. cheesecake is d ....
fed kicking off. the world s most valuable company set to give earnings after the close. we will set up everything you need to know. when it comes to the markets, and ethics story all the way. low rates river is where the smart rates has been for the last couple of years. in the fx market, weaker pound, stronger yen. stronger by 1.36% against the dollar. as the helicopter money fades ahead of the doj decision on the friday. the weaker pound story means a stronger dollar story as well as we carry the last couple of weeks over in the fx market. that stronger market means the brand is down another .7%, the wti down. yields coming in to touch, and by two basis points on the 30 year yield. your yield is 2.264% on the u.s. 30 year. alix: breaking news. verizon now with earnings right now. it looks like a beat on the top line bottom line coming in at $.94 a share. operating revenue coming in light at $30.5 billion. the company buying yahoo!. that $4.8 billion. one number tha ....