Dow advancing 47 points. S p gained. 52 . But the nasdaq jumped. 9 . Hallelujah with todays strength its important to note that the nasdaq and s p both finished the month of february at record highs. Something i regard as quite simply amazing given all the woe and worry that we endlessly hear about. What fueled todays rally . Its actually a complex formula of emotion and Empirical Data ware widespread sense of negativity gets proven wrong and remember, why we like stocks shines brightly. Smashing the allencompassing gloom. The house of pleasure lets start with the setup. We get data from all sorts of places the census bureau, bureau of statistics, bank of st. Lou, s p global, commerce department. Often these figures dont mean a hill of beans but periodically when the fed is in play they can mean everything. Especially if you know that the fed cares about some pieces of data more than others. Right now the fed is very much in play. Weve been getting some hot Economic Data of late. They
Stocks not doing much. Revenue forecast, certainly concerning. Well talk to jim a lot about that, and well talk a lot about snowflake. That stock is down dramatically this morning, both on guidance and the news that its ceo, Frank Slootman, will be retiring. Suboptimal. Yeah. Suboptimal. Lets start with the inflation data, sort of get that out of the way before we move on. Whats your take on this pce number . In line is cool. Thats the way i look at it. I think that there were a lot of people who thought after the cpi this one would be bad too, and when you look at the progression of the s p futures, david, it really is incredible how negative people are underneath. I mean, when frank was on, frank holland, this morning, he saw the futures just sinking as if the it was a foregone conclusion that the number would be too high. We keep seeing that, which is, i think, one of the puts underneath the market, is the actual negativity of the futures. Interesting. And to your point, there is th
We see a new alltime high on the s p 500. A very good morning from new york city under audiences worldwide. Alongside manus cranny and katie. Im carol massar. We are also watching oil closely backing off. We want to get to the market boards for you. It is coming after a 2. 7 gain yesterday as we continue to be concerned about escalation in the middle east. Lets bring in the team. Once again i feel like we expect it to be a quiet day but the themes continue. You see oil taking a bit of a breather. That was after a pretty dramatic tuesday that we saw. I know we were asking the question about what was going to wake oil up. What a slide its been since midoctober. It seems in geopolitical premium coming in. Im surprised the 6 is all we got in terms of the repricing. In the past 24 hours we discussed the attacks in the red sea and the u. S. Approach to iraq but the overnight news is about the conversations between joe biden and the qataris. This is about hostage release, this is about pushin
And check out the nasdaq. Also at record levels, a whopping 44 this year. Did you guys all have your money in nasdaq stocks this year . As you know, were not allowed to hold individual stocks. But you can hold nasdaq and qqqs. Its on pace to have the best performance in 2003. You act like you didnt have it. I have a 401 k . You want me to ask. Where do you have europes, steve . In a boat, a couple of boats. Yes, thats right the s p, half a percent. That index is up just 24 this year. And, of course, you made some money in treasuries as well if you invested at the right time. Take a look at treasury yields. There we go. 4. 01 on the 30year, 3. 87 on the 10. 3. 87 on the 5, and 4. 29. I dont know. Do you think 2024 is the year when we disinvert . Thats a question we have to be watching. Yeah, definitely, absolutely. Do you think happens . Why has it been inverted for so long is the question . As the fed does its thing, you would expect a disinversion yield curb. Eventually. It may not ha
From 24 and then go back. [laughter] thank you very much. Oh, folks, breaking news, the biggest showdown in years at entertainment giant disney that has come to an end. Ceo bob iger has ducked the mousetrap nelson peltz had set. But Hedge Fund Manager bill ackman firing up accusations that disney or its advisers or somebody close to the company leaked the tick by tick vote count possibly tilting sentiment in its favor. As the stock slips now 2. 6 , were getting close to session lows here, we are all over the story expect drawn. Coming up, wall street report robbie whalen live in l. A. , well ask him what he sees as the most significant moments of this fight and whether peltz throws in the towel or continues the war, and ken leone will join us on whether he says iger and disney still need to work harder e. To the markets. This is kind of interesting, okay . After two days of losses and Federal Reserve chair jay powell this morning playing the stern principal at the Market School of Inte