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Minutes into the trading day in the u. S. Julie things are looking a little bit worse than one hour ago. We have negative buys and stocks are relatively unchanged, but you can see the trajectory going lower. It is more easily seen if you look at the futures so you can see the rolling over that we saw going into the open into the cash trading session we bounced a little cash trading session. And weced a little lower have seen yields had higher. The manufacturing data coming in slightly ahead of estimates and we globally have a little bit of a bounce in yields today as chinese manufacturing data, better than estimated. We have selling of bonds globally. Bloombergp on the shows out dish chose how this is playing out on stocks because groups like utilities and telecoms had relief yesterday as yields went down. Now that yields are backup the stocks are back down. That is what is pulling the stocks overall lower. Some of the individual movers include coach and some of the other luxury makers ....
The u. S. Trading day. Julie hyman is tracking the allout from the surprisingly hawkish fed minutes yesterday. Julie but we are having a delayed reaction. Yesterday, stocks came down afterward but finished little changed. Also, as we hear from other fed members who have been making comments this morning, saving to support again that june is on the table, july could be on the table. , s p, and nasdaq are all trading lower, up off the lows to some extent today. Yet, when you look around at other markets, they are not necessarily supporting this narrative. You could look at the twoyear as well as the 10year, and yields are actually lower, which is not what people would take if. Nterest rates are going higher im looking at world bonds and twoyour notes around the globe. The u. S. And canada at the top. As you go down, that blue column, you see a lot of negative numbers, so you are not getting yield elsewhere. The yield still at least relatively by comparison looks attractive. Also look at ....
So this would be a threeday streak, the worst losing streak, the longest losing streak going back to early february. If you look at the s p 500, you can see that your directory threat the course of the day, where they opened up higher and then went lower as the day went on. Kind of made an attempt to recovery but couldnt quite make it there. Weve got a lot of different sentiment indicators that are still negative on stocks as we close out earnings season. Look at some of the biggest drives on the s p 500 at the moment. There is a mix of earnings and not in apple, for example, falling for the 10th session in the past 11. This mammoth earnings losing streak that the stock has been on. It is still training near a record high, but hasnt been able to get there. Merck coming out with sales and missed estimates. And l brands reporting pulmonary profits below analyst estimates. On the plus side, we do have some winners to talk about. Those stocks that are supporting index point wise. Craft tim ....
In libya. Ali baba on the move this morning. Noted short seller jim chenos saying hes betting against the company. Hes also shorting tesla. Were going to hear what elan musk had to say. Donald trump not pull anything punches as usual on squawk this morning. His harsh words for janet yellen. And j. D. Has outbased. I go over the ali baba i think the real takeaway is china, Consumer Spending is very good. Thats my feeling. You think thats too brought, brought takeaway . Ah, no. I mean, listen, this is the cleanest gauge you can get of Consumer Spending. The move to mobile, by the way, is really incredible and pronounced. Now that, of course, is just something weve seen across the board when it comes to commerce, ecommer ecommerce. But the numbers were stark. Theyre now at 70 of china commerce Retail Revenue generated ....
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