Good morning, welcome to daybreak australia. We are counting down to asias major market opens. Kathleen good evening from bloombergs World Headquarters in new york. Top stories this hour. China traders shun a risk ahead of the u. S. Inflation report with oil hitting a high for the year. Bond investors willing to settle for a 10 year yield before below 4 in the latest round of the refunding options. Disney having gains after the bell after the prophets be the lower spending outlook. Chinas reopening helping themepark revenue. Kathleen the u. S. Is weaponizing trade after President Biden signs an executive order limiting investments in some of its companies. Lets take a quick look on wall street. It was a down day ahead of the cpi report. Nasdaq closing down more than 1. 2 . Nvidia laid the way but tesla, amazon and apple apple also losing ground. Theres a big jump in energy stocks. 28 surge in the european lng price was what led that. Also help push oil to a 10 month high. After the bel
A 2 decline for the market. Could that change today . It will be a last crazy two hours of trading. The more important question for you should you be buying the dip. I have best in the business ready to share their strategies and ideas with you. How will the market reacts, say the 10year hits 5 . Jim bianco predicted it. He will tell us what to expect if that does happen. Warnings this is a new era of higher global inflation and it will require major action to combat it, including a much more powerful Federal Reserve. Say it aint so. Biden Administration Takes major steps to outlaw gasolinepowered cars. They say it is about social justice. The new narrative that these are the good old days. I love to hear your thoughts. Are these the good ol days . Tweet me cvpayne. That and much more on making money. Charles all right, so whole bunch of things conspiring to make this a really tough session so far. First of course you just heard talking about these health care stocks. Humana, cvs, unit
Welcome to Bloomberg Markets. Before we get to that we have the bank of canada. Guy a bit of a nonevent. 5 matching. Im curious to see what ted macklin has to say though. He cannot make the same mistake he made in january. He cannot say we will pause, i think they will avoid that this time around. It will be interesting to see if the ecb and the bank of england make the same decision. How they are hawkish but keep pausing at the same time. We are near the top of the cycle on Interest Rate. But the sentiment is strong. Alix yields are popping lets get to that with michael mckee. Mike it matches the Third Quarter gdp. Services come in at 54. 5. That is up from 52. 7. New orders rise 50 75 57. 5 from 55. Unemployment rises but it is too late to use that in terms of forecasting the august payrolls but it it was 54. 7. Supplies are easing under the weather a little bit at 48. 5 but 48. 1 was the previous. And prices paid 58. 9 compared to 56. 8. Questions asked about if we see the economy f
Ed we will continue with earnings coverage as amazons results show a boost in its cloud. Caroline one year since elon musk took over the Company Formerly known as twitter, he plans to take on the likes of youtube, linkedin, and push in payments more. We will discuss that and more. Lets check in on what is a rally to finish up the week. We are seeing a rally across stocks and bonds. Which are usually at odds. Inflationary pressures building from a macro perspective. Consumers anticipated to see more inflation. Says the university of michigan numbers. And the all important pce number coming in strong. Check on top. Does it have to do with earnings . Nasdaq at 1. 2 , but down for the week. Two year yield pulling in a little bit more. More flat, but above the 5 level. Is there a risk aversion towards the weekend amid ongoing geopolitical concerns, particularly the middle east. Commercial off by a quarter of a percent despite the inflation gauge. Bitcoin has been on a tear. Up some 14 . Is
This is making money. Breaking right now lots of confusion and anger in todays session. Major indices holding up despite the superhot ppi number and a big miss from home depot but wall street elites are really cursing the move in meme stocks. Not again plus this hot stocks that are benefiting from the baby boom spending. By the way that is not going to stop. You might as well ride the train. We have congressman Burgess Owens with us. He will explain what theyre trying to do to lower the cost of college. Unfortunately theyre getting a lot of opposition from a lot of folks who were the architects of this spike in the first place. My take on china, playing President Biden like a fiddle. All that and so much more on making money. Evolution, revolution, rocket to the moon politicians say more taxes. Stop everything. And the band played on. Charles everybody remembers that great line from the temptations, ball of confusion. I got to tell you, it really seems appropriate for todays session. T