Welcome to new york, in new york , filling in for katie greifeld. We are looking at an smp back on the rise in the second day of gains and. 7 rise in the s p 500 and further gains in the tech heavy industries in the nasdaq 100 and Sox Semiconductor index flying. That is bringing it on track for a second week of gains with the rebound. The two year yield is only down about one basis point for. 53. We started the week above 4. 60 and last week above 4. 71. Some serious cooling and a bid that remained into the powell testimony. We will talk about the ecb leaving rates on hold for a fourth straight meeting. Traders are boosting their bets for a june rate cut as president Christine Lagarde spoke. Pres. Lagarde inflation is continuing this downward trend and continuing to decline to our target as labor costs marked moderate and supply bottlenecks and the reopening of the economy after the pandemic faded. Sonali now joining us for more is a la sondra. When you look at the pressures and the ex
Yields have picked up. Tenyear yield above 5 . That is a significant level. We touched briefly above that for a nanosecond last week. Since then, you have to go back to 2007 when you have seen yields at these levels. 5. 012 for the tenyear yield. By the way, check out energy prices. You will see wti which is off 33 cents. 87. 76. We have merger monday as joe mentioned. Look at what is happening here. Chevron buying hess in the deal of 53 billion. 171 a share. That is a low premium over the Closing Price for hess on friday. Hess shares are up 2. 25 . Chevron down 2. 9 . This deal comes just weeks after exxonmobil made its move to buy pioneer natural resources. Both stocks on the move. Hess ceo john hess will join chevrons board. I just got off the phone with mike wirth. Very low primemium on this. This goes back long before the rumors came out about exxonmobil and pioneer. That deal went through last week. A lot of people thought after the deal, that chevron would look for Something Els
Gold with the worst day yesterday down 1. 3 . Copper up 2 . It hit its highest level since april of 2022. We have been waiting for home depot. It hit. 3. 37. Closed at 3. 40. The same store. 3. 2. Overall, same store is down 2. 8. It was 3. 68 a share. Oh, its all on the teleprompter. Ill read it now. You heard this already. Home depot just reporting. 3. 63. Revenue missing. 36. 42 billion. 36. 66. I dont think those are people are expecting down 3 to 5. The same store sales fell 2. 8 . People were expecting 2. 2 . Ted decker saying the company is still seeing, in his words, continued softness and certain larger disregucdiscretionary pr. It is expecting sales growth of 1 . Lets bring in brian nagel for more. Still seeing same store sales. Brian nagel with oppenheimer. Brian, you figure the stock recently has been a little weak after a pretty good rebound after prior weakness. You dont think it is cheap . Good morning, joe. I dont think it is cheap. That is the key reason why i remain o
You at cspanshop. Org discover books, apparel, home to core and accessories. Theres something for every cspan mom. Plus every purchase you make goes toward supporting the nonprofit operations for start shopping now my skin the code on the right or visiting us onlinee with cspanshop. Org. Cspan is your unfiltered view of government. We are funded by these Television Companies and more including a buckeye broadband. Buckeye broadband support cspan as a Public Service one with these other television providers. Giving you a front row seat to democracy. Irs commissioner testified the agencies focus is on high income individuals and businesses making more than 400,000 a year particularly those who have not paid their legally owed taxes for House Appropriations subcommittee hearing on the 2025 budget is about two hours. Close the door please. Think a sub command Financial Services and general government will come to order. I like to welcome irs commissioner first time you have appeared before
Up next acting labor secretary testifying on her department 2025 budget request the proposal totals 13. 9 billion focuses on creating pathways to good jobs and protecting workers. She has served as acting secretary since march 2023 she is still waiting to be confirmed as labor secretary over a year after President Biden first nominated her. House education and Workforce Committee hearing is three and half hours. The committee will come to order. Note there is a quorum. Actingng secretary ms. Su i know Vice President harris ezell lobbied hard to drop the acting from your title only a vote of the full senate can grant to that promotion. This is something they have rightly not seen fit to do. Today marks 417 consecutive day in which you have ledol the department of labor, the dol as acting secretary without the cost which is required advice and consent of the senate. It effectively abrogating the Senate Nomination process the Biden Administration has treated the constitution as but a foot