Band to 12 cents a share. From new york, alix steel with guy johnson, welcome. We are excited about the cpi and i have to say that did not change anything for me. I do not know if that move the needle for me. Guy it is the second month where the numbers are coming through. We have a claims number that looks like it is signaling that we have a very strong labor market. All of this points to the fact that there is more work to be done. Over the last few days the fed has abdicated responsibility for bringing inflation down to target and saying that the market is doing the work for it and may be the fed needs to step up and do more. Alix and then you see the eight to nine basis point move, the more that moves and maybe the less the fed has to do as this kind of yield filters through. Guy the fed is talking more about the long end but the front end signaling that the fed needs to do more. It is interesting, you look at the Inflation Trajectory in europe and the u. K. , both point downwards
1. 25 . Still a mixed picture here as we continue to see these swing back and forth from the major averages. Look at the s p 500 on an intraday basis, and stocks open lower, and of rising to the highs of the session around 11 15 or so, and have been shopping around for the rest of the day. Some of it it appears where the equity markets were getting this were from the bond markets to some degree, particularly around 1 00 p. M. That is when we got the results of the latest bond auction in the u. S. A 10 year option, 24 billion worth. The weakest result we have seen in five months time. After the auction, we saw yields go to the highs of the session. That is not to say that every move and take in this equity and rally has been pushed around by the bond market, but investors are watching what is going on in bonds to some degree. Also, we are watching what is happening with oil. We see a for data klein in oil prices that amounts to the worst that we have seen in more than six months. You se
Buyback. 28 , lessalibaba down than one year since the company went public. Uber beefing up the Security Team to defend against hackers. The Financial Times says by the end of the year google uber will quadruple the security staff. If he is elected president , donald trump says he would deport all undocumented immigrants from the notice states. Appeared on meet the press mr. Trump we have a whole new set of standards. Chuck you will split up families, the poor children. Mr. Trump they have to go. We will work with them. They have to go. Olivia donald trump stole the show at the iowa state fair, flying in on his helicopter. It is a tradition for candidates who like deepfried oreos. Cory who does not like deepfried oreos . Olivia nobody. Wreckage has found the of a planet lost contract contact with air Traffic Control in cloudy weather. Jason golf, australias day set a major tournament scoring record to win the pga championship, finishing 23 under. I know you are passionate about watchin
Doing cartwheels behind the scenes at how well the market has taken the Balance Sheet Reduction Plan and announcement. To be likewants this watching paint dry for us. This will be very boring. It is all preannounced. It was all very transparent. There was no surprise in the announcement yesterday. And so, i think we will be watching quantitative tightening in slow motion. I think she is trying to do as little as possible. She introduced tightening in monetary policy, and she was trying to do as little as possible with the dots to keep them as unchanged as they could be in the next 12 months so beyond that they can make the policy changes. The crisis is over. We still have policy levers largely at their emergency crisis determined settings. So lets return on a methodical basis the policy levers to normal so we have the ability to control our economies. Jonathan joining me around the table today is greg peters, Senior Investment officer at pgim, priya misra at td securities, and Colin Ro
If not in the immediate wake of the fed minutes coming out. The nasdaq and the dow all higher. The nasdaq is the winner of the day on Strong Technology numbers from Applied Materials and a general lift and technology. If you look at the week now for the s p 500, it is posting a gain of nearly half of 1 even though there was that rocking this in the wake of those fed minutes coming out. Week,still again for the snapping a threeweek losing streak for that index. In todays session, tech is the best performing sector here. Information technology up nearly 1. 5 . Financials also doing well as well as health care. Consumer staples not faring quite as well. , watchingage terms some of the best performance on the s p 500 today, i mentioned makerd materials, the of chipmaking equipment, with a forecast ahead of estimates as orders search. Endo Health Solutions apparently the federal trade commission is granting some kind of antitrust approval for an action, but its not clear exactly what its fo