7 billion flowdan to Crypto Assets last week we will discuss that with the delta plot we will discuss them in so much more throughout the hour. Lets get to markets, a hotter than expected cpi print that drove the narrative. In the equity space it was a negative reaction at first. We havent changed her mind about the idea that if a rate cut is coming from the Federal Reserve is not coming until june. We are now up by a percentage point and a lot of the legwork coming from the earnings story. Semiconductors higher. Even as you see rates creep i. The 10 year yield was creeping up and bitcoin is down 1. 36 . Just above 71,000 u. S. Dollars per token. Talking about this upside and equities is probably oracle that accounts for that. The story, 20 5 topline growth in this cloud business. If you look at the analyst known there is an ai detail went. Lets get right to the conversation and bring forth brody, bloomberg oracle chief. The performance of the cloud unit, that was pretty good. They boo
Alex field is sitting in a field listening to yoyo ma. That sounds pleasant. The music out of the markets is negative. The stocks are down by 1 today. You are seeing luxury stocks in europe down. It had a good few sessions, so just a bit of position squaring there. Most sectors in europe are down on the day. On the week, we are flat. And around the 460 area, single stocks are interesting. Equity markets are getting a boost today. 81 got wiped out as part of the Credit Suisse deal. Not so happy as the ubs walked away from the guarantee provided by the swiss government and the monetary authorities. British land is an interesting story. Stocked down by 5 . This was removed from the index. The stock is under pressure. A broad narrative today. Some interesting idiosyncratics single stock stories. You dont see as much carnage in the woody market and the equity market. The s p is down only one 10th of 1 . Again, nothing to write home about, but volume is extremely thin. We are operating 40 of
President biden imposes limits on u. S. Investments in china. Alibaba returns to growth across all of the main divisions, defying chinas economic turbulence. We will take a deeper look at the Supreme Court ruling in the epic case siding with apple, at least for now. The other big story was inflation, gaining 0. 2 last month. The slowest pace of gains for two years. The market starts thinking about the fed and then says maybe the fed will skip a rate hike in the next meeting. Why do we care about the fed . Higher rates discount the valuations for future cash flows for names on the nasdaq 100. The main text the main tech index outperforming but we are basically treading water. The other big risk as it is bitcoin. We are the same level we have out for two weeks. The u. S. 10 year yield climbing back up. Remember the story we keep reiterating. Yields have been coming slightly lower from 4. 2 on the 10 year to now nero took now nearer to 4 . The earnings story is disney. So many stories in
They are also making a further move into Wealth Management likewise,s really strong. Feeding through through europe is really nice, and taming one of its competitors. Benefiting from that stock, up by 1. 4 , kaylee. We have big stock movers. Two tech giants moving in very different directions. Amazon the big mover at 11 on the session. A Strong Revenue number. Andy jassy is slowing the pace of spending, so that is ending up a good day for that stock, but not a good day for apple. Down 3 after another quarterly revenue decline. The iphone is a point of weakness. Outlook not fostering confidence. The stock is feeling pressure. There has been a runup, substantially to the prints. It was up 40 year to date before yesterday, i believe. Then the other story is in the bond market. It was job stay in the United States. The Unemployment Rate is at three point 5 . Wage growth was unexpected. Downward pressure on treasury yields. The 10 year yield was at seven basis points. We were at four point
Welcome to bloomberg markets. Green day across the screen. The s p 500 up and the nasdaq 100 2 higher on the day. Both indices down on the week but the earnings love it hitting the take and the two year yield 30 basis points and whipped sign for the week but below the 4. 80 level. The 10 year below 4. 50 on the day. Breaking ism Services Data crossing the terminal. We have bloombergs mike mckee with the details. Michael if you are trading on the economy slowing down, keep doing it. The ism Services Number comes below 50, the line that is supposed to demarcate between contraction and expanses. Services pmi 40 9. 4, lowest since december. A rebound on for the moment. Production at 50. 9 and new orders at 52 point two, both down a little from where they had been. Employment comes in at 45. 9, still below 50 and just confirms what we saw in the services and overall jobs numbers that we are not seeing a huge job gain in the recent months. The one thing Everyone Wants to look at, 59 point tw