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City is major spy hub. Markets pointing higher, dow industrials up 52 and the nasdaq up 39 and s p 500 higher by ten minutes. The dow moved 560 points between highs and lows, the Technology Startup set for a big price tag as it readies to go public with offering next week. We have all the numbers coming up. Speaking of tech, amazon unveiled a whole new slew of gadgets to boost gaming experience. Candy craze, more americans are stocking up halloween candy despite no worries of trick or treating this year. Mornings with maria is live right now. Take a look at indices. Things have worsen in the last few moments. Markets in europe poise today see the worst week in june as uk reports rise in coronavirus cases. Mixed story in asia as well,ation markets finishing flat but a mixed story. Japan and korea were up. Hong kong and shanghai were lower. Some of the top stories that we are watching out right now. President trump handing out d ....
Names like cocacola, pepsi, hit especially hard. We will focus on all of the green because thats really the story today. Nasdaq, another spot to take note of today. The outperformer as well this week. Even apple up nicely despite the midweek downgrade a strong week for alphabet and nvidia as well. Take a look at those three, having pretty good gains. Leads us to our talk of the tape. Whether the storm clouds for stocks are about to pass, as earnings season kicks off in earnest next week. Lets ask tom lee. Fund cofounder and head of research. Welcome back. Good to see you. Its been a while. Great to see you, scott. I will start calling you prescient tom. I hope you dont mind. Because this morning, at 10 23 in the morning, you said possibly this is the flush, bottom line, possibility equities reverse into the close, well, it looks like you called it, tom. What do you think about this reversal and what it means . Well, i think if we think about the data for the past week, the stagflation ....
Bit. This is what happened here. The 2year treasury yield topping 5 after fed chair jay powell made his first comment after the hotter than expected data. We said its moving sustainably toward 2 before proemtsly easing policy. The recent data have clearly not given us greater confidence and instead indicate that its likely to take longer than expected to achieve that confidence. Powell echoed recent statements by other fed officials indicating the current policy level will likely stay in place until inflation gets closer to its target. And so effectively, andrew, hes saying the data has been coming in increasingly hot. Weve been trending toward it. Now the question for the markets is will we have to establish a new trend and is the bar even higher to start cutting rates. Weve seen banks push out in september, which is 68 at this point. Some have said maybe none in 2024. Maybe its 2025. Can you believe were at 7 . Thats always crazy. I dont think the street should have ever been at 7 or ....