Jones industrials up 18 points and s p up 17 and nasdaq gaining five and all off highs of the session and the big market story of the day that may very well be what is keeping a cap on some of these gains here. New York Community bank as we take this interday chart full through the entire screen, were doing that because they resumed trading due to two hour plus halt due to volatility and throughout the session and it was halted starting just before noon eastern time due to volatility and it was down 42 and earlier on a wall street journal report indicated a bank was seek ago cash invasion to shore up confidence but within the last hour and new York Community bank announced it got that lifeline more than 1 billion Equity Investment and the investment is being led by former u. S. Treasury secretary steven minutan and reverend investing 200 million and this transaction is expected to close on or around monday, march 11. Now in connection with the deal, the company will add four new direct
Good evening the top stories this hour. Bloomberg learns the u. S. Is set to limit its scope. U. S. Stocks slip on worries about the economy and financial system. Moodys downgrades 10 smaller lenders. They did finish off session lows, the s p 500 lost more than 1 at one point and it recouped half of the losses. We had a haven demand not to mention moves despite the fact we are bracing for the 100 billion wave of options but have to be digested this week. Take a look at crude prices down. 2 after gaining ground in the new york session. We heard from the ukrainian president talking about retaliation and russia continues to block the reports. Its all about the after our session. Look at the bank because we are looking at huge losses. That overshadowed better than expected outlook for earnings that had seen the stock rally earlier on. Supply Chain Disruption said ease, but they expect heavy losses to continue as a boost production and we work plunging. Doubt about their ability to continue
Index take a look at where japan is. Up almost 2 . Perhaps the data clearing the way for gains in the stock market. At home it is about china. The pmi better than expected but contracting for five months in a row. Activity disrupted by the Lunar New Year holiday. Manufacturing stabilizing at 51. 4. It is about the npc right now. Expectations are so high. Will we see the bazooka that people are expecting . Will we see a policy pivot . What about the gdp target . Yvonne that is probably the single most important thing to watch according to our Bloomberg Economics analyst. Whether the growth target will be maintained at 5 and if that is the case, how will they deliver it . They will have to unleash more policy to reach those targets. Around 5 is what we are watching in terms of language. That is still a consensus. Is this going to spur a turnaround and continue the rally that we see in chinese equities . The npc tends to lift chinese equities. But it is a high bar. And the room for disapp
Katie welcome to Bloomberg Markets. You take a look at these markets and you can see there is green on the screen. The s p 500 is up by about 0. 5 . Compared to what we been seeing, its exciting. The nasdaq 100 is seeing a bigger game, up about 0. 8 . Weve been talking that inflation data coming in as expected with a bit of a relief there and you can see that in the bond market as well. Not huge moves that its the direction of travel. You have yields moving lower right now to the tune of four basis points on your 10 year treasury yield after the feds preferred gauge of underlying inflation, the pce rose in january as expected, supporting the feds patient approach. For more, were joined by mike mckee. After what we saw in cpi, this is probably good news for the fed . Mike its good news for wall street. You probably heard that big whoosh at 8 30 a. M. In the pc was a little higher than its been in recent months but it is not too high and a yearoveryear basis, inflation is still going dow
Interesting to watch after the inflation print. We are standing around 4. 62, and moving one basis point lower. We were at 4. 60 today and you have seen moves of more than 10 basis points this week. We started above 4. 70. Bitcoin above 62,000 darling towards record highs. We were only thousands of dollars away and it has been quite parabolic. Some midday movers on the equity fund ash equity side. We are looking at good news and bad news. Snowflake is falling by the most ever by delivering a disappointing Sales Forecast, and then announcing their ceo is stepping down from the role. We are watching shares at best buy rising on an up earnings outlook and now up more than 3. 6 . The company has been struggling with soft demand and seeing the biggest gain since may of 2000 after the meat producer announced its biggest earningspershare meet since 2013. Bath and body works falling after disappointing sales and profit views in the current quarter, even as results from the Holiday Quarter beat