there. with china in mind. but as biden prepares to head overseas, there are concerns that north korea is preparing to test an intercontinental ballistic missile in the coming days, one more dose of saber ra rattling. the other major story we re following, the u.s. economy in flux, to say the least. wall street set for another rough day, dow futures already down. you see there this morning. after the markets worst day in nearly two years yesterday, ending down nearly 1200 points, 3.5% or so. inflation fears now depressing investor sentiment. many ceos are stating their concerns of a recession could be coming. let s begin at the white house, cnn s john harwood is there. so, first, john to this meeting today, sweden and finland, two countries that avoided membership in the alliance for years, for decades in fact, the invasion of ukraine changed that, the president showing his support today. reporter: that s right. and this is one of a series of consequences that have unfolde
SA s August retail trade sales down 0 5% y/y cnbcafrica.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from cnbcafrica.com Daily Mail and Mail on Sunday newspapers.
get some of the stocks hopefully lower. anyway, that s what the financial heads tell us. gina, on the interest rate side, how should folks look at this? i know you re not a consumer economist, but, listen, folks have their credit card rates to worry about, car loan rates, home mortgage rates. yeah. absolutely. and it is clearly the case that rates are going to be higher. i think the good news for consumers is that markets know that and some of this is already priced in. so to some degree you ve seen more trades move up in anticipation of what is going to happen next. the real question is how much higher are they going? so we are going to sea a situation where consumers are facing much higher mortgage rates, much higher auto loans, credit cards, et cetera, i think the sort of take away from that is two-sided story, on one hand borrowing is more expensive for you. on other hand if you re a retiree, you might get to on some of the longer term investments might finally offer
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