abigail doolittle is here. i am looking at the stock market and the yields, it seemed the market was waiting for those inflationary comments. abigail: i thought that was a brilliant conversation. there was a lot of cat and mouse between david rubenstein and jay powell with david rubenstein trying to get jay powell to say something new, to commit to stop -- to commit to something new. he threw softball at the beginning. we had a strong jobs report, would you like to add something? would that have changed policy? jay powell laughed and sorted the audience and said it doesn't work that way. steady as she goes. we had a strong response with stocks, the s&p 500 going up as much as 1.2%. david rubenstein kept trying to get more information. at one point he did get him to concede a little bit on something. one thing he got him to concede was on the 2% inflation question. is that something you are expecting toward? jay powell conceded. at the end, there was also the idea where jay powell gave the idea that they are stea

abigail doolittle is joining us. maybe a holding pattern before we get the fed minutes? ybe so. we have the s&p 500 and nature indices flip-flopping because -- between gains and losses. where looking at the worst on the year and yields are ahead of the fed minutes with oil lower. if you include a risk asset you see at risk off but from an inflationary standpoint we are down 2% maybe that is a good thing. aching of yield and the fed let's look at the two year yield. you look and see when the two-year was skyhigh and then you have the accommodation that kept it low. we have a fed minutes coming out later today and the to your options. it will be interesting to see whether the yield goes to 5%. from a chart perspective it is likely to go above 5% quickly. what will that do for stocks? we go into the terminal this chart is interesting with the s&p 500 over the last six month or so. instead of looking at the bear market of last year, we are basically looking of sideways trend. there's more of a upward trend that were looking at here. when i put the chart together yesterday mor

abigail doolittle is breaking it all down. g into the year, we were talking about a recession, move a bad recession. now, it is a soft recession. elton's results would not point to a recession, at least in my mind. they put up a strong quarter, they beat adjusted earnings of $1.59 by 31%, a big beat. we had a modest revenue beat by 3%, up about 2.4 billion dollars in revenue. looking forward to this year, they are saying the revenue they get per room is going to increase 4% to 8%. not only is there demand, but consumers are willing to pay more. similar for mgm, and another good quarter. narrower loss, 7% revenue beat. not only was las vegas very strong, but they are also seeing a rebound suggesting this year could be great for the gamers in both areas. now that china's shutdown has come off. >> the china reopening is obviously evidenced in the mgm properties. it is interesting, we talk about the jobs market where in some parts of the economy, things are still relatively tight. this is maybe the complicated part of the job story

abigail doolittle is tracking the moves. we've lost some steam here. s intraday chart. futures higher overnight during the asian session and then around 10:00 or so hitting session highs up solidly at that time and now down. the cash down just a little bit less but nonetheless this is a decline, of the fifth in a row, the longest losing streak, the worst of the year. let's put it in the context of a chart we've been looking at this week. this is a six-month charge of the s&p. here's the sideways to uptrend. on today selling action, yesterday's close right above the blue. today we could close above it. the next level of support is the 200 a moving average which coincides with a muted version of the trendline. some of which lagging -- what is lagging today, alibaba turned lower. netflix down and tesla down 1.8%. guy: interesting the technicals are fascinating. so close to those key levels. thank you very much indeed. here's what were watching for the rest of the day, the san francisco president will be speaking later on. the fed speak continues. we've got

bloomberg's abigail doolittle. it's 7:30 on the west coast. let's get to the start up.ut the top tech stories from the bay area. we are watching elon musk. he spoke in dubai on twitter succession plans. >> i think i need to stabilize the organization and make sure it is in a financially healthy place in the roadmap is clearly laid out. i am guessing towards the end of this year it would be good timing to find someone else to run the company. i think it should be in a stable position at the end of this year. dani: joining us now is about low. i have a million questions based off those few seconds. he says late 2023 he thinks the company will be stable. how far from stable is twitter right now? is that target seems stable given that? ed: with him on musket everything's on a sliding timeline. his skill is to ultimately get there but he misses self-imposed deadlines. when he started taking the reins at the end of last year, he talked about the risk of bankruptcy pretty openly but said the severe action that they had taken. reducing headcount from 7500 to less than half of t

abigail doolittle breaking down the details.sh prime minister is speaking alongside the european commissioner president. let's listen in. >> these negotiations have not been easy. i would like to pay a tribute for her vision and recognizing the possibility of a new way forward. to my colleagues, for their steadfast leadership. the united kingdom and european union may have had our differences in the past. we are allies, trading partners, friends. this is something we've seen clearly in the last few years. this is the beginning of a new chapter in our relationship. the belfast good friday agreement has endured because at its heart it is respect for the aspirations and identity of all communities. today's agreement is about preserving that delicate balance and charting a new way forward for the people of northern ireland. i am standing here today because i believe we have found ways to end the uncertainty and challenge for the people of northern ireland. we have taken three big steps forward. today's agreement delivers a smooth fl

abigail doolittle tracking those moves. ail: i would note for the s&p 500 truly anemic volume, down 20% below the anemic value we had. we are looking at a loss of 2% for the s&p 500. it is daylight value pullback. today we have yields up a little. small moves. were we do have a bigger move is the nasdaq 100 out of the october lows, 15% of the time pe riod. we're looking at a shorts of the qqqs etf. we are at basically record levels for this etf in terms for the asset it holds. inflows and outflows, inflows are more happening. given the fact that you had qqqs and the nasdaq 100 up 50% out of the october low, is this a outright short or is this a hedge for some people along big tech? another reason we can have that sort -- short position on q2, these are yields in the month of february. this is probably more stand out as opposed to stocks. at the two year yield up 60 basis points. the 10 year yield up 30 basis. now, we have become use to these moves for yields. last year, what it was happening in some ways it was bigger becaus

abigail doolittle is tracking the moves. abigail:. we are looking at relatively small moves.&p 500 up ever so slightly. big tech down being dragged down by the stocks but that ship sector is holding support. to the upside, crude oil, it is hard to know whether or not that is a good thing or a bad thing. traditionally it would be a good thing. all the inflation watch at certain levels i would argue it is a good thing right now. as for the picture over the last several days, we are looking at something we have not seen. several down days in the row -- in a row for the nasdaq 100. five of the last six days to the downside. down 3.6%. this is important because trend shifts can be subtle. they start off quietly, not without a lot of noise around them. however, if we put this into the context of what is happening on the year relative to the s&p 500, the uptrend is actually intact and the nasdaq 100 and all the indexes have a similar trajectory. this is the bear market of last year but we have been flattening since october. here is the uptrend being held by the s&p 500, a golden cro

abigail doolittle is tracking the moves. there is a pretty big bond move as well. eels a lot like 2022 because we have yields up, pressuring stocks. take a look, one of its highest levels of the year, if not the highest level of this year. that is making stocks look more expensive, so we have the s&p 500 down 1.4% for a third day in a row, the worst three days of the year, so we still have the s&p 500 up about 5% on the year but we are having a pause here. we have oil down about .6%. mike wilson saying you want to take a look at the risk premium. if we look at the terminal, we are going to see the spread between the s&p 500 dividend yield and 10 year yield super low. wilson says this is not enough. as for stocks trading on the day, we have earnings out there. walmart, this stock had been down more than 2% but higher investors trying to rebound from swollen inventories last year and a bit of a product mix issue. home depot still down. they cut their outlook to retain and attract high quality talent. general mills boosted the outlook. let's take a look at what we have

stocks are struggling for direction as we wrap up the week and abigail doolittle is tracking the movesl: on the week bigger moves to the upside and downside, but mainly the downside. the s&p 500 had been up not long ago slightly. the tech heavy nasdaq is taking it harder. you can see energy rallying solidly up 3%. chips down about 2.6%. chips is a larger waiting and the nasdaq 100 is all about tech. this week has been so rocky for a big tank and the s&p 500. for big tech in particular we have the first down week for the nasdaq 100 of the year. we had five straight up weeks. the first down week in six weeks. we are up 15% when you net all this together. i would argue that investors are a little bit nervous about uncertainties with the inflation picture. we have cpi tuesday. if it comes in higher you could see losses accelerate on the idea that the fed will hike more. if it comes in line or lower maybe it will be the opposite end risk on. we have a fair amount of laggards. lucid group in particular down 14.6%. they managed to work out an easy tax credit at this point. investors don't car

abigail doolittle is tracking the moves, still in the red, but it could be worse. e off of the loaves and the middle. earlier, it felt like we could flip green or the losses could deepen. right now, a second down day yields higher yet. the 10 year yield, 362. take a look at the index, higher but below 20. some would say it is a bit of a risk on indicator area and as for the nasdaq 100, the overbought rsi has coincided with past turndowns. the key here, because we are overbought, we can always get more overbought. that can be a healthy sign. the key to watch as the uptrend out of october around 1150 or so. if that holds, it would be consolidation near-term healthy consolidation. if it were to break, that is something to pay attention to. the commodity space, the dollar is higher. now flipping higher, we do have aluminum lower on the russian story, the tariff on russian aluminum out of the white house. then copper down 1.1%. guy: great stuff, thank you. let us turn to the etf landscape, etf iq has gone on location. it is going to be live today from the exchange confer

tom: bloomberg's abigail doolittle, thank you very much. u.s.or secretary at with the red payrolls data. >> i looked at my economists and said your way off today. it was a great report when you look at areas that are important. business group, health care group, education grew and a steady growth in construction. those areas, are signs of the economy and concerns of the economy, i will take this jobs report any day of the week. tom: let's get the employment picture on the ground. we are joined by daniel yanisse , founder of checkr inc . let's start with you and what you are seeing across your business in terms of the tightness of the labor market. 517,000, the data that you are seeing on a day-to-day basis. what is the job market you see? daniel: in different industries, we see interesting trends in january. we can confirm that tech companies are having low hiring volumes and that aligns with the layoffs in the news. that's a small portion of employment. when we look at other industries, small and medium-size businesses, s&p's have had a huge sp

abigail doolittle is tracking the moves ahead of that.asically a choppy road to nowhere. this is an overnight chart of the s&p 500. we are not really doing all that much very well. you can see investors are waiting for the fomc minutes to see what the fed is signaling what they might be doing next as for whether or not some color comes out, whether it will be 2525 25 or something different. i think some of us can agree that they have been talking about hard -- hiking and now the market is catching up. over the last two weeks, we have had stocks pullback but energy taking it worse than other sectors. these names are down. this on the anticipation that the fed is still in hiking mode. we came into the year thinking that 25 basis points in february would be it, but now we are pricing in 25 for march and may and close to 25 for the summer meeting. if we take a look at with the short-term rates are doing, not surprisingly they are going sharply higher. we are looking at the 6, 12 months and 2-year note. the two-year has not yet reached last ye

abigail doolittle, thank you as always. i'm joined by jonathan at credit suisse, head of quantitative research. i believe it's your first time on the 1:00 p.m., we thank you extra today. starting where abby left off, this idea of what's actually driving the markets. feels like the year to date rally has been driven by speculation. the tech bid, does it last? jonathan: first of all, you are exactly right. looking at the companies that are the most volatile, they are of the most. negative earnings are up the most. there is a speculative tone to the market. like what it would normally feel like after a recession is over and you have a v-shaped bounce off the bottom, like the market is saying, and you talked about this, this soft landing no landing scenario. as if the market has totally bought into this and it's driving the upside. we believe that we are going to see no recession here but we believe the market is ahead of itself with speculative names. kriti: talk to us about what you need to see to have more conviction in that

abigail doolittle is tracking the moves. the markets do not like the figure. e the chart of the nasdaq 100 to show it. a real slide at session lows. all of the indexes having the worst week of the year but today 's selloff is on anemic volume 20% below the average. this is more of a look at what is going on. the s&p 500 down 1.56%. the idea that the fed will have to keep hiking. apple and amazon contribute into the losses. let's check in on the chart we have been looking at all week to see whether or not support in the 200 day moving average is holding. right now, they actually are. it is amazing. here is the sideways to uptrend of the last six months. here is the s&p 500 hitting on the 200 day moving average, another level of support we were talking about. if we come off the lows, it could make an apex for a culmination of the selling action and some sideways action like what we saw at the end of december or a spike higher. this chart makes the possibility for it. really pressuring stocks. take a look at this two year yield. the pullback we have seen in februa

abigail doolittle is tracking the moves. >> the story of last year and today the story as well.s up, stocks down. the s&p 500 had been down 1.7% and is now down 1.1%. let's look at what is happening technically. we are looking at this downtrend of last year into the sideways uptrend. we are hitting two different levels of support and holding the 200 day moving average. it seems now long-term buyers are stepping up and will maybe bounce off of the support into some kind of move higher. boeing is down about 4.3%. the worst day of the year. this on halting dreamliner deliveries. adobe down 7.3%. the white house talking tough on mergers and awkward stations. live nation's and carvana down sharply on earnings. we are one year into the war in ukraine. one sector that has been doing well over this time is the defense contractors over the last year. we have a fair amount of green on the screen here, guy. >> we certainly do. interesting see some -- to see some of those defense contractors in there. both sides of the atlantic are having a very strong run. coming up the u.s. treasury deput

thank you so much to abigail doolittle. let's get set up for the next 24 hours.tine lagarde will be scheduled to speak at the european parliament in just a few moments, noon in new york. president biden will be speaking about the economy before a local union in merriment -- in maryland. we will get earnings from cisco, roku, and zillow. alix: the long end is still selling off. coming up, brian deese will be joining david westin with "balance of power." i'm headed to radio. join me there at the top of the hour. this is bloomberg. ♪ get help reaching your goals with j.p. morgan wealth plan, a new tool in the chase mobile® app. use it to set and track your goals, big and small... and see how changes you make today... could help put them within reach. from your first big move to retiring poolside and the other goals along the way wealth plan can help get you there. j.p. morgan wealth management. being a veteran, the transition from the military into civilian life causes a lot of stress. i ate a lot for stress. golo and release has helped me with managing that stress

bloomberg's abigail doolittle is tracking the moves.ound session lows no. >> we have been looking at a rally all your. s&p 500 over the last two days, now down .8%. these are the last three days. two days, it is closer to 2%. the hot jobs report, good news. right now, bad news for stocks on the idea that the fed may have to keep raising, hiking more than investors had been hoping. we are seeing a big move in the bond market. two year yield up 30 basis points over the last two days. this is one of the biggest jumps in yields we have seen going back to last june. the feds movement in the future being repriced to some extent. it is monday, we have not had a merger monday in a long time. today, we have potential deal activity. shares of catalant up. the idea that danna her down 1.2% is interested in buying this company. it is more speculation than anything. people familiar with situations say it could come at a big premium, but there is no deal imminent. there could be a deal closer, take a look at life storage shares up 12%. public storage