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breaking investment rules. this is daybreak asia, coming bloomberg srom headquarters. i am shery ahn. betty, it seems to be all about earnings this week. we had netflix overnight, but we are gearing up to bank of america, goldman sachs, ibm. earnings season is usually friendly for stocks. we see another round of gains. betty: we absolutely will be. it is interesting because, you know, we know earnings will be a driver, but there is certainly differing consensus or differing aboutamong strategists how much earnings will propel markets higher. we know mike wilson says it could propel the markets up 10%. we have a guest coming up who does not think quite that, is probably on the opposite end of that spectrum. diverging views are forming. shery: i will be quite curious to ask him why he is so pessimistic. many in asia are looking forward to other data points including china s property prices, not to mention we do get rba s in the july meeting minutes. take a look at wha ....
shares are climbing in the premarket after stronger than expected earnings surging on that news. nasdaq set to open higher after the 39th record close of the year but revenues miss anz dekrien for the 31st executive order. it s a lot to think about. it s very hard to have cyber theft which is really important. he did it lightning speed. these guys are 15. it takes so long to remake an organization in an environment when you re up about amazon and microsoft. these are just, these are competitors the likes of which ibm has never seen before. and to outrun the legacy business it s slowing. the growth is slowing more quickly than originally watson don t come here i don t need you. but that s a key part of their strategy. it is artificial intelligence is an important component of what ibm services is going to offer. now another undercurrent is they can t get the ai people that you can get out west. i don t know it is difficult but it can be done ibm has not yet been ab ....
as we look at the map not a lot of slowing or explanation on the chp report so i continue to scan to see what else is going on there with but so far just prepare for that distraction. the rest of the bay does move well. travel times over to the bay bridge just under 15 minutes from highway 4. back to you. thank you, mike. 5:01 now. to breaking news this morning out of the east bay. massesi massive flames. the fire explodes. a closer look at what s left behind. today in the bay s pete suratos is there with what happened. pete, we should say people are safe, right? are. reporter: good morning to u you, kris and sam. yes, no injuries to report following this early morning fire. the fire trucks are no longer here on the scene. the scene is for the most part cleared. that wasn t the case just hours ago. everybody out! reporter: you can see and hear firefighters directing residents to evacuate from the six-unit apartment complex on the 1900 block of ygnacio valley ....
that s exactly what happened today. where the dow advanced 86 points, while the s&p backslid the nasdaq tumbled 6.3%. with a session like this one, all sorts of people will come out of the woodwork and say the rally in the tech stocks, the clear market leaders is now over you re going to hear some commentary, some very scary commentary about how everything that s expensive is now out, and everything that s cheap is in. because after all, the best performers this year with a handful of exceptions were slaughtered today. and the worst ones, especially the oils, rallied. i expect there will be a ton of bears trying to make you feel like an idiot for owning the best performing stocks i m talking about stocks like that of amazon, which is trading down tonight after reporting disappointing earnings, even as the revenues were super. they ll say this is 2000 all over again if you haven t heard that already and that you need to get gains right now or go home is what do you do? s ....
u.s. cpi is due out today. can the fed raise rates again this year if that measure remains subdued? s head start. she is holding a 15 point lead, but will still need a coalition partner. who will it be, matt? matt: that is the question we are all discussing in germany. we will be discussing that over the next six weeks, for sure. right now, a more immediate threat. we are less than 30 minutes from the european open. futures are down across the board after the big drop in tehe u.s. yesterday. as guy mentioned, people fleeing into haven assets. bitcoin is trading at an all intra-day high. the bunds, coming down. this trend is interesting. over the last month we have come down from 0.6% to 0.5%. trendmove in a downward as investors prepare for more risk. if i look at it one day look at the bund trade, we have come down in yields, meaning investors are buying debt, se eking safety and pushing the yield down to 0.4%. guy: gmm is a fantastic function because it creates a s ....