Ten tension. The historic inferno, the largest wildfire in texas history, torches over a million acres and counting inside the race to get the flames under control no friend to privacy advocates. The new trouble brewing for facebooks Parent Company. Wake up this morning and get yourself a booth the restaurant from the final scene of the sopranos is auctioning off an iconic piece of memorabilia, and no cut to black here were just Getting Started its friday, march 1st early today starts right now hi there, im Frances Rivera we begin with the Political Congress roads at the southern border President Biden and former President Trump making visits to different border towns in texas. This split screen moment revealing very different approaches to addressing the immigrant crisis, the Immigration Crisis brie jackson joins us now. What were the dueling messages delivered at the border . Good morning, frances we did see a major contrast there on the southern border President Biden criticized rep
Premarket. The price for paramount. Sony and apollo submitting a cash offer. That includes debt. I will bring you up to date with the very latest reporting on this saga. Lets get the Market Reaction to this mornings job numbers. We were looking for 240. Negative revisions of about 22,000. Bond market kind of sniffed this one out, jim. It did. This is one of those moments where i think youre sitting there and saying, well, think about the narrative we had on tuesday, that tomorrow, powells going to lower the boom and talk about how, yeah, the chances are we could have a rate hike. He would have looked very foolish. Instead, now people are saying, did he have the number . No, it was a pretty tightly kept secret, but when i look at this, i say to myself, all right, we probably will get a rate cut if things get a little bit lighter and that the market is very poised to have a run here, which is really amazing. Yeah, the tenyear right there tells the story, doesnt it, jim . Sure does. Falli
Macro picture is not looking good today. You get the costs of labor the moment coming in higherthanexpected and overall confidence from the consumer plunging. Meaning that we are not looking pretty heading into a Federal Reserve meeting that its tomorrow. The 10year yield is pushing higher, of course, with borrowing costs rising. Thats usually the trend. The dollar, stronger versus the yen, a complete verse from yesterday, it looks as though japan indeed had intervention into the markets to try to prop up again. Weaker against the dollar, bitcoin along with other risk assets on the downside, 60 1000 wrapping up to be a poor month of april, the worst since the ftx scandal, down some 16 and seeing a pretty poor month for stocks overall, nasdaq having its worst month since october. What do you think of the micro . Ed a lot going on, real quick, tesla is down. Mondays session, biggest jump since march of 2021 on fsd. We will dig into that later. Amd after the bell, how well above or below
Wrapping up april with a month of losses potentially on the screen. Down more than 2 on the s p for april. The small caps have been absolutely hammered the end of march, the rotation is coming, a big downdraft for the small caps so far this month, snapping five straight months of gains for equities on the s p 500. Bramo, april has been a bumpy ride. Lisa partly because that is the sound of the narrative breaking or maybe the narrative shifting. He basically said higher inflation is fine for stocks and earnings. If yields stay here it will be ok, everything is fine. Yields are high for the right reasons. Are they . That is the angst you are feeling. Jonathan the bond market, breaking up the 10 year. The twoyear, high by 35 basis points. The 10 year up by more than 40. I remember a few conversations we had this month. Just a few. Steve said that this Federal Reserve wants to count Interest Rates. He said that this data is not cooperating. The data this month has not cooperated. Annmarie
Gets shown the door and off the earnings call. And later, more job cuts at tesla after marking the best day in weeks. Its tuesday, april 30th, 2024. Youre watching Worldwide Exchange right here on cnbc. Good morning and welcome to Worldwide Exchange. Thank you for being with us. Lets get you ready for the trading day hahead. We kick it off with the look at the futures after the positive day for wall street yesterday. A different story today here in the red across the board. The dow would open about 70 points lower. For the month, dow, s p and nasdaq snapping fivemonth win streaks. The dow tracking for its worst performance since february of 202. For the month, chevron and American Express is leading the dow and home depot bringing up the rear. The fed kicks off the twoday policy meeting today. We have seen yields pull back from the levels we saw yesterday. The benchmark at 4. 62 . The twoyear yield at the 5 yield. Bitcoin is popping up above 61,000. Bitcoin is sliding a bit. Down below