You have these records stimulus plans being proposed and a pretty Bleak Outlook certainly by the ecbs madame lagarde, and yet, we see the fear of missing out trade in full force across equity markets. It just feels like if this fomo trade continues, how much does the pressure come on fiscal policy makers to continue these programs . Jonathan i completely agree. Right now. Ope italy rallying because of what europe is about to do, or what they are talking of doing, and germany not really backing up any big way. We had record issuance in the United States. What have treasury yields done . Not a whole lot. The market is wide open for these guys to do a whole lot more. Lisa yesterday, the Federal Reserve sold twoyear notes at ,he lowest ever yield of 0. 18 which brings us to what we are looking at today. You are seeing u. S. Treasuries selling another 45 billion of fiveyear notes. Also it to 00 p. M. , the fed is going to release its beige book also at 2 00 p. M. , the fed is going to relea
Good tuesday morning. Welcome to squawk alley. Jon fortts on assignment. Hes headed out west. A bunch of big names on that guest lit starting tomorrow. Well hear from steve ballmer, and a lot more over at code over the next couple of days. In the meantime the dow is down 32. Amazon broke through to 1,000 for the First Time Ever as tech stocks continue to rally in the First Six Months of the year. Bertha coombs with the latest. Hi, bertha. Amazon stocks helped lift the stocks to a new high. They have helped Large Cap Fund managers achieve outperformance to the overall market. Theyve really sort of caught up in that area. Active Fund Managers are now about 24 overweight in large cap tech. Thats the largest overweight they even been since 2008. It doesnt hurt that amazon and fail bet are at alltime highs. Facebook has been a little laggard in this group, near 8 gains with other fang members. Apple, they dont really touch on, but coming into this month, ubs noticed that most Fund Managers
76 oakland, 82 san jose. This nice warmup is happening today and continuing tomorrow. Now we have the topic update traffic update. If you need to use the bay bridge will have a lot of company. It is packed at the toll plaza, still backed up through the maze, 580 from 24 coming out of rodeo when hercules as well. It will get a on the eastern span and the extension expansion span. We still are hotspot free but lets check out the nimitz. I dont see any major problems but it is packed from 238 all the way into downtown. It is a 23 minute trip to get from 238 to 980 split. Three firefighters are injured after a large firefighter in San Francisco and that has left seven people without a home. We are following that story live and have the latest. Reporter the fire is out but now pg e is replacing a ruptured gas line right in front of the home. This is off of Market Street and hattie. This fire happened at about midnight and was so massive that it took about two hours just to put out the flame
Willand on hopes that abe be announcing the consumer stimulus boosting measure. Gains, prettyding good data over the weekend suggesting industrial profits going up. We are also getting news that the chinese pension fund will be channeling 600 billion funds. That is also driving sentiment a little when it comes to shanghai. The weakeningy of this is a dollars story. If the number is positive, it is going to build on the revised gp number, painting a more positive picture of the strength of u. S. Recovery and the strength of the u. S. Dollar going for it. We are seeing weakness or another have present for the 113. 59. Yen, trading at we are also seeing weakness in other currencies in asia. The south korean won is down by a 10th of 1 , easing a little bit from previously. The aussie dollar, continuing the losing streak from the past week. Data, how well the chinese economy is doing it is now flat,. This is the other reason we are seeing gains in equity markets today, and a genal positive
Mexicos first lady under fire for taking houses from companies doing direct business with her husband, the president of mexico. Now, for the first time she is speaking and Michelle Carusocabrera will tell us what she says. First to sue at the nasdaq where she will talk to the ceo of a company that just went public. Thats a great story and we will get to it in just a bit. We begin with mounting fears about the safety of cars on american roads. Regulators calling for a National Recall of millions of cars with air bags made by japanese auto parts supplier takata. Phil lebeau joins us live from the l. A. Auto show where air bags are stealing the show at this point. Phil to you. Reporter a lot of attention regarding the takata air bag recalls. A lot of people saying im not sure what is going on. Last night the National Safety Highway Administration held a Conference Call saying there should be a nationwide recall of millions of takata air bags. Prior to this it was regional recalls. They ar