It is an earnings trade today. We will get into that in a moment. 8he 10year yield at 50 i basis point. Not really moving around that much. Bid, pushinginy the 10 year to 58 basis points. Story today is facebook and twitter. Down 5 , a quarter of advertising revenue for twitter, even as an added subscribers. Lets get a deeper dive. Taylor riggs is standing by. Taylor mostly risk off, but tech is not as bad, given earnings are coming in a little bit better than expected. There has been a recent shift in the conversation that tech is being thought of as defensive here, holding up better than people thought. Take a look inside the terminal. A lot of the negative price action that we are seeing stems from that Consumer Spending report we got, the worst ever dip in Consumer Spending. Income and spending was weaker than expected, which means some analysts think that firstquarter gdp data will need to be revised lower as well. I want to look at what happened overnight within the s p 500. A lo
Highyield credit another risk asset down for a second week in a row. A cautious tone. We have been in this big rally. Some might be nervous whether or not it lasts. We are coming to the close of a rough week, particularly for oil. What is going on with Energy Stocks . Abigail it is interesting because on the week energy is the only up sector, up 1. 1 , even though oil is down 33 . Connect bit of a dip some of the investors bottom fishing. When you look at the s p 500 on the week, it is a bad week. The worst week in about five weeks, down 2. 7 . Inflection points sometimes happen very slowly, but it will be important to see what next week brings. If we have another down week, that could suggest a whipsaw in emerging range. Next week we will get a look at earnings from Big Companies such as apple, alphabet, amazon, microsoft. It could be an important earnings week along with the macro we have been paying attention to. Investors seem a little bit cautious. David all of the tech guys. Than
Already in the25 books. Not a great quarter but we are ending the week on a slightly positive note. O far, the s p 500 is up. 75 the nasdaq is up. 6 . Smaller moves from earlier this week, and all told, the s p will be down on the week. To 37, so some better performance for that asset class. I want to point to the brazilian real. The Justice Department minister has resigned. Lets get a deeper dive into the markets with taylor riggs. Moves you mentioned the in the equity markets, and you are seeing similar moves across asset. The bloomberg dollar index getting strength. The 10 year yield, you are getting a drop in yields. In a 11tal markets said of the week, you typically see stocks go higher. Also getting in a 11 some weakness in highyield. Starting to see the equity market strength is not translating into the highyield market. You are getting some movement in the bloomberg commodity index. Yesterday, a lot of movement. That is thanks in part to energy. I want to look at where energy h
book. the only side effect is me craving bamboo shoots 24 hours a day. enough of that we are learning more about the july 4th themed, i m not showing the guy but we have a replacement for him. this is a pile of horse [bleep]. and trust me it s an improvement. we aren t saying his name but that s not good enough, from now on it s just horse [bleep] from us. my apologies to the horses and their [bleep]. thank you. the fact is for every minute his face is on a screen, you create more like it, it s a power of the media. ask any woman who had a jennifer aniston haircut in the 90s. or me. enough with the guy s face, he s a mass killer, not the plus sized cover girl. of mass shootings are almost always linked to previous ones, they keep stats and record the damage like goals and a demented fantasy league. it infuriates me to see the new slap that face right up there all the time as they repeat the same b.s. we are ready heard before. meanwhile the victims get a quick mention like
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