Weve already had some great conversations this morning. We drive that forward in this hour, and out to jon ferros the open at 9 00. We are really going to focus on the dominion Warren Buffett transaction, which i find absolutely fascinating. Within all of this is a lift to the market because the government has the back of the financial system. The dominant feature right now is the certitude of 1 trillion here or 1 trillion they to buoy the economy up into the end of the year. Jonathan maybe another 1 trillion this month as well. Theres a huge debate taking place in washington. It is not a matter of when. They will do this. It is not a matter of how big. It will be large. It is a matter of the composition, what they agree on a moment. I am edging there is going to be some pushback down in washington in the next several weeks. Futures up 38, dow futures up 374, so a real lift to the has as aea all of this backdrop dependent. It is really a mixed picture. Theres no russian about that area
Jonathan ferro, Lisa Abramowicz, and tom keene. We welcome all of you to our simulcast on television and radio worldwide. Thrilled you are with us today. Coming up, a really important conversation on the global markets. The new slow today absolutely asked ordinary. We have been absolutely extraordinary. We have really been focused on hong kong, but right now weve got to turn to the american claims, which is surveyed again to be over 2 million. Near 40 a lot of pain, million over the last two months or so, so clearly the labor market is in an absolute mess. It is really painful. I think it would be a mistake to think the policy effort was done. It is not. There is certainly debate in washington on what to do next on the fiscal side. Lets not forget the monetary side either. The ecb has been flirting with doing more. Think we have to move to Forward Guidance. What does future policy look like . That is where the effort transitions in the next several weeks. Tom i agree on the idea that w
Brown, pete nigerian on the phone, erin browne. First, lets check out the markets to see where we stand this hour as the busiest week of earnings season starts to ramp up the dow up just 28 points. Nearly 400 point gains the s p just marginally to the downside the nasdaq up nearly one full percent at this point. 8657 there a key focus for many traders up about 1. 25 at this stage its great to see you i guess i would start by saying the s p 500 is now down 11 year to date. The recovery has not been anywhere near as robust for the median stock as it has been for the gigantic stock in week is what i call the playoffs of earning season the most important stocks to the overall direction of the s p or reporting. You know the names microsoft, facebook, google, et cetera those are really the stocks that i think matter most directionally. This could be a very interesting week its not all bad yesterday was a massive day. Thats what youd want to see. It happened. The iwm had a 4 3rs day. Not much
Escalation. Central bank decisions. Trade uncertainties are accounted for. Later in Bloomberg Technology global link, we will break down disneys earnings. Now, lets get you started with a quick check of the markets close tuesday session. Some calm returning to the markets. The stocks rising, the dollar studying. The search we saw in treasuries peering back a little bit. The s p 500 being led higher by tech and financials. Every sector of the s p 500 was in the green, except for energy. Oil slumping into bear market with brent falling more than 20 since its april peak. Not even the fact we have eight straight weeks of declines in u. S. Stockpiles helped debt those losses. The nasdaq gained 1. 4 . The dow up more than 300 points. U. S. Futures at the moment not doing much, but lets see how we are setting up in asia. As we saw markets fall to the lowest point in weeks. Sophie we saw the asia benchmark fall to the lowest level in nearly seven months. Futures this morning pointing to a mixe
A new high earlier today for jpmorgan, holding its investor day today, Ceo Jamie Dimon says no buy backs at these levels and the stock didnt like that and said he was, quote, cautiously pessimistic about the state of the world right now. Well discuss coming up. It takes us to our talk of the tape, all that continues to rally and if its a sign that more gains are on the way. Welcome in pimcos erin brown. Nice to sea you on the east coast. Nice to see you as well. This everything rally pretty amazing. Does it continue i think it does as we heard from the First Quarter earnings season, strong earnings across the board. Whats important to keep in mind you see an inflection and broadening out not Just Technology leaning in terms of earnings recovery, but its broadening out to more sectors as well. Yes, were trading at highs on the dow, close to highs on the dow, you know, same across most indices, but i think what youll see as we move through the rest of this year this broadening out will d