while answering questions about the negotiations. we ll have those comments for you in just a moment. and they come as president biden is busy with world leaders at the g7 summit in japan. we ll recap yesterday s events and preview what s ahead including a new round of sanctions for russia aimed at closing loopholes that moscow has been using to security previous attempts to hold it accountable for the invasion of ukraine. good morning and welcome to way too early on this friday, may 19th. i m jonathan lemire. thanks for starting your day with us. we ll begin this morning on capitol hill where it appears that at least some progress is being made on the debt ceiling. house speaker kevin mccarthy shifted to optimism yesterday on the negotiations saying a deal could now be made in time in order to avoid a default. i just believe where we were a week ago and where we are today is a much better place because we have the right people in the room discussing it in a very profes
more school age children have died from guns than on-duty police officers and active duty military combined. think about that. more kids than on-duty cops killed by cops, more kids than old engin soldiers killed by guns. for igod s sake, how much more carnage will we accept? it is time to do our part, time to act for the children we ve lost. the children we can save. for the nation we love. let s hear the call and the cry, let s meet the moment, let us finally do something. speaking of doing something, senate debate has gun. and danie daniella diaz will be us, but let s start with jasmine wright. the president is explicitly calling on lawmakers not just do something, but he has meat on the bones, he has specifics. reporter: yeah, the president outlined a wish list of sorts specific spinnings that he wants conditioning to take up. and he started with assault weapons. he called to restaretaught the assault weapons ban and also banning high capacity magazines. and if congres
lock step, the s&p 500 as you just noted there hitting its highest level in nine months yesterday, so that s some positive news. across the board, though, markets are heading higher. oil is headed for its best week since the middle of april. the nikkei in the far east has closed at a 40-year peak. of course you have the g7 summit happening out in hiroshima and japan as well. meanwhile, though, we are seeing the s&p 500 a bit flat this morning with traders shifting their expectations the fed may be be looking to keep rates higher for a bit longer. the world s largest retailer which is of course is wal-mart has raised its full-year outlook as first quarter sales topped expectations. how are they able to do that? how do they explain the increase despite still rather high inflation in. yeah, the cfo says it s consumer resilience that seems to be the case in point to
inflation is the biggest hurdle. it is the biggest hurdle for the economy and affecting main street. it means that the wage increases that we ve seen companies give to workers back to the labor market aren t holding muster with the state of the elevated crisis. and it also means that inflation is a one time step up. those prices aren t likely to go down. so even if inflation slows, main street will still be stuck with higher prices. so it is the thorn in the side of an otherwise fairly healthy labor market. yeah, interested we heard jamie dimon talk about six to nine months of spending that consumers still have $2 trillion in covid spending still in american s pockets but they are spending that money on higher prices in many cases. right. consumer resilience throughout the recovery has not only been remarkable, it has been economy-saving.