Therapeutics losing a third of its value after the cholesterol drug caused side effects in a trial. All right. Todays action a signal maybe that the market is turning just a bit . Those seven big tech names that carried the market last year, theyre starting just a bit to fade. In fact, theyve been fading for some months in some cases. So should investors now look elsewhere . Are old names becoming cool again . Seema mody is looking at the newlook ge which has been a stealth outperformer. Good afternoon, tyler. Thats right. Its not often an industrial stock outperforms big tech, but thats what were seeing with general electric, which continues to defy critics. Now, over 80 in the past 12 months. Its highest level since 2017, outpacing the gains of a number of tech names like microsoft, amazon and the broader nasdaq. Wall street really crediting ceo for its bold restructuring moves including the latest bet, spinning off energy into a stand alone company vernova. He is excited about stayi
The s p down. 20 . The nasdaq up slightly up. 1 . The treasury market was having. Ism manufacturing numbers came out that were showing growth for the first time in a year and a half. You would think that is good news. It pushed back expectations for rate cuts. You can see the tenyear note at 4. 33. The two hyear note at 4. 71. Yields moved up to the highest level in a couple of weeks. That manufacturing data was a surprise. That was 4. 34. Yeah. 1. 9. It was 4. 20 yesterday. 14 basis points. It was on the stronger than expected ism. You add that together with the higher inflation data with the pce numbers on friday and the comments from jay powell and Christopher Waller last week and all of it has people thinking that june rate cut may not happen. The fed futures fell below Roger Ferguson said it over and over again. He has been our accurate barometer overall of it. We were at six and settle for five. Okay. Four would be good. We decided were going to do three. It could be one or two.
The new Optimal Blue CEO worked for the past year-plus at Medallia, and will bring that broader experience to the mortgage industry as it adopts generative AI.