Microsoft after the bell. First check on the markets. Dow up 300. Gains for the year pretty much flat, which is the outlier given the other indices. S p holding 4250. We have some decent guidance from old line industrials. That plus rates stabilizing adding to a pretty good picture. After five straight down days on the s p. Yields are up a little bit. Were below the 5 on 10year and guidance on Kimberly Clark and that es are companies that get hit by the strong dollar, which theyre absorbing. Lets start off with bonds. Bank of america saying the peak in rates could be around the current levels, though uncertainties remain high. Then barclays weighing in saying bonds dont look like compelling value despite the selloff. Ubs seeing better value in bonds than equities. What should we expect for rates from here . Do bonds provide better value than stocks . Joining us is td cowen president jeffrey solomon. Jeff, do you think weve seen the top in yields . I think were closer to the top than no
Just continuing to track a bit higher. Were sitting at levels we havent seen since 2013 for this bond here. Certainly the question is, thage station that thage decision that were getting from traders, when were going to see the b. O. J. Start to cut or hike rates, were hearing them say the same three moves this year could be possible. We are getting close to the 1 market. Continuing to track the 10year yield at levels we havent seen since 2013. Really does play into the currency dynamics. Again today in the stherks yen fractionally weaker against the dollar here, trending back again closer to the 157 mark. Stocks wise, look, were a little high right now but fairly range bound on the session. That points to what were saying. Nvidia numbers are yet to come out. You mentioned the cleveland fed president , three rate cuts could no longer be appropriate. What does that mean for the dynamics of japan as well, that we continue to track. And also Rafael Bostic saying he expects a higher steady
Good morning, i am tom mckenzie. Stocks take a breather, events set to test the ai driven rally. Raphael bostic reaffirmed the higher for longer mantra. J. P. Morgan boss jamie dinan lights a fire on succession talk. Closer than ever. Nvidia will discuss a new partnership. Our exclusive conversation with the ceo. European stocks and u. S. Stocks are near record highs. Modest gains yesterday. Nvidia will be a catalyst with earnings on wednesday. In the u. K. , inflation data crossing early. Futures pointing lower, european stocks pointing to losses around 3 . The spot index reaching the highest level since january of 2023. S p futures are flat. Lets flip the board and look cross asset. Weve been hearing from the central bank reiterating higher for longer. Messner saying it is no longer profitable, it is appropriate to go for around two. 433 on the benchmark 10 year and that is the bloomberg index. Modest gains and vision affects. Modest gainsetf speculation clod highs. Will bitcoin brea
Welcome to daybreak australia. Were counting down to asias major market opens. Annabelle a flat lead in for asia with stocks nearing alltime highs. Jamie diamond said the bank wont buy back a lot of stock at current prices. Haidi a high anticipated earnings report. We hear exclusively from the c. E. O. Jenseng on. Annabelle a lot of speculation after the iranian kings death. Sydney futures down about a on the 01 . The nikkei futures seeing a bit of weakness. Pretty cautious setup from wall street. We are waiting for nvidia numbers, the crux of the frenzy, and can it sustain another leg further . We are seeing futures to mild losses in hong kong. A bit of a dip in australia. Perhaps a little bit of a gain in japan once we get start. Remember, were trading pretty close to near alltime highs for a lot of these major markets. Thats right. It was pretty much the same story in the u. S. Session. We had u. S. Stocks sitting around the multiyear highs. Treasury is inching lower in the session.
H. S. A Das Commission acknowledges that we are on the unceded ancestral homeland of the Ramaytush Ohlone, who are the original inhabitants of the San Francisco peninsula. As the indigenous stewards of this land, and in accordance with their traditions, the Ramaytush Ohlone have never ceded, lost nor forgotten their responsibilities as a caretakers of this place, as well as for all peoples who reside in, reside in their traditional territory. As guests. We recognize that we benefit from living and working on their traditional homelands. We wish to pay our respects by acknowledging the ancestors, elders, and relatives of the Ramaytush Ohlone community and by affirming their sovereign rights as first people. Secretary, will you please take the roll . Good morning, and thank you, president spears. Commissioners please respond with president when i call your name, president janet weiss. Beers. Present. Vice president nelson lum, president. Commissioner sasha bittner is excused absence. Com