Anticipating a reacceleration in inflation. Im just happy tightening is over. The economy is on a cooling path but it is a gradual path. This is bloomberg surveillance with jonathan ferro, lisa abramowicz, and annmarie hordern. Jonathan the most important hour of this morning begins right now. Good morning, good morning. Your equity market on the s p 500 positive one third of 1 . 30 minutes away from ppi, jobless claims, and retail sales. Lisa will it change anything . Ultimately i want to see if the market cares. How much people start to realize theres something greater under the hood then we are pricing in. Jonathan they can have a conversation about a Balance Sheet doing something about qt. The risk event for a lot of economists is whether those three cuts implied by the median dot drops down to two. Which would track the market in the direction the market did not want to go. Lisa and if jay powell does not sound as rosy about everything, it may be is concerned financial conditions
Russell 2000 is the biggest decline this afternoon and all of this happening, of course, just as the fed meeting gets underway and the chairman expected to carry a hawkish tone tomorrow afternoon. We shall see as we live up to that. It does take us to our talk of the tape. These necks, critical 48 hours beginning with those amazon numbers, yet another mega cap stock with a very hard by to get over. Lets bring in our panel. Mark of evercore. Cnb secret contributor, kate rooney getting ready for that print, im going to throw a little bit of an audible, admittedly off the top, mark, im going to come to you first because we are going to talk about amazon and a second but i want to talk about alphabet right now because i just got dan loebs up third point, his ew investor letter in which he discloses a new position in alphabet. He says during the First Quarter the funds made a substantial investment in that company and, mark, i want your take on what he says was really a capitalizing on the
You havent had that and i think looking forward when youre trying to understand where you go with retail, understand that just because chinese consumption might increase on the part of the consumer the u. S. Consumer is going in the opposite direction. Im looking at names like i just pulled up el, estee lauder. If we think that consumer in china is about to turn a corner, if you believe, you know, donna hoe has good visibility over there, been over there a couple times, what he saw, stock up 2 1 3 , there are other names super reliant on the Chinese Consumer getting out and spending not only in the mainland but certainly around the world. Absolutely. And i think, you know, the Chinese Consumer also has saved significantly during the pandemic years, more so than u. S. Consumers so there is a lot of cash sitting on the sidelines leading to potentially be spent which could be pretty powerful, especially for some of these companies where stocks are down and out. I agree with joe that the u