Interesting to watch after the inflation print. We are standing around 4. 62, and moving one basis point lower. We were at 4. 60 today and you have seen moves of more than 10 basis points this week. We started above 4. 70. Bitcoin above 62,000 darling towards record highs. We were only thousands of dollars away and it has been quite parabolic. Some midday movers on the equity fund ash equity side. We are looking at good news and bad news. Snowflake is falling by the most ever by delivering a disappointing Sales Forecast, and then announcing their ceo is stepping down from the role. We are watching shares at best buy rising on an up earnings outlook and now up more than 3. 6 . The company has been struggling with soft demand and seeing the biggest gain since may of 2000 after the meat producer announced its biggest earningspershare meet since 2013. Bath and body works falling after disappointing sales and profit views in the current quarter, even as results from the Holiday Quarter beat
Also. We are tracking the potential job warning, in response to what we are seeing in the yen, jgb yields as well, continuing to move higher and closer to the 1 mark. Suzuki saying they are committed to achieving the Fiscal Consolidation goal. What else we are watching, it comes down to expectations around where the boj goes next. We have been hearing from you next to the my chief economist at the bank, saying that doj could raise rates as soon as june, maybe even space for rate hikes four 2024. Today in the session, we are watching the japanese yen and also keeping an eye on equities, a little under pressure so far. Still monitoring from earnings. Key to track will be whether that doj cuts its bond buying neck he saw on monday. Given the backdrop of the weaker yen, the yield gap between japan and the u. S. Japan, lets switch nmc switch and see how south korea is trading. The outlook is a bit weaker, not quite the magnitude of the dump that can japan so far, but still the kospi is 0. 2
Before. Japanese Government Official stand prepared to take all measures needed. T. Rowe price saying the yen reaching 160 is even possible so it makes that next april 26 meeting for the boj very much a live event. We did have u. S. Stocks casting a bit of a shadow, the tech sector in particular, big tech the laggards in the prior session. It was the response to u. S. Retail sales and also higher treasury yields. The japanese 10 year yield climbing a little bit at the start. Lets change on because we are also keeping a watch on what we get for the korea session. So far, again, more pressure coming through, not just for equities, but you also see that reflected in fx at this time. We had trade numbers from korea earlier, export prices rising 2. 6 on the year. Import, a contraction of 0. 7 . Take a look at how we are opening up in australia, bell. It is that staggered open. We will have to wait sort of for a few more minutes for a truer picture but looking flat to negative. We were expec
Nasdaq up by 10 points. Halfway through the trading month of september, the dow is down by. 3 for the month to date. The s p 500 down by 1. 3 and the nasdaq down by 2. 3 . And treasury yields are pretty important because you do have a fed meeting this week. Right now the ten year is sitting right at 4. 34 . The 2year just above 5 and we will see what the rest of the week brings. Talking about what the rest of the week brings, here it is. Squawk planner for the week. The fed is the big story. Kicking off a twoday meeting starting tomorrow followed by a News Conference which will happen by jay powell. Wednesday expected to hold rates steady but planning to focus on the guidance, both economic and projections and forecasts for the rates at the end of this year. Few earnings of note, were going to hear from General Mills and also get fedex and kb home and darden will announce its earnings on thursday. Right now we want to get to the autoworkers strike, as joe mentioned the uaw not making m
Doubledigit lead if elections were today. The president will say get it done or expect defeat next year. Markets open higher again today and, yes, we are again at or near record stock price levels and as amazon powers ahead, we will pose the question, jeff bezos, 100 billiondollar guy, is he also the new steve jobs . Varney company is about to begin. Stuart this is the face of the retail revolution. Online is on the march like never before. Adobe says yesterday was the Largest Online sale history, 6. 9 billion worth of sale online and the revenue often driven by smartphones that hit alltime high, 1. 59 billion worth of sales, that, again, just from phone purchases. Lets bring in mike murphy, hes with rosecliff capital, im going overboard on this. Wait for it. The revolution is now, we are in the middle of it. Are you going to take me on . Mike im with you. People know that they can shop with convenience, people are willing to spend money but on their terms. The only way brick and morta