[inaudible conversations] [inaudible conversations] come to order. Without objection the chair is authorized to declare a re cess for the committee at anytime. Entitled bureaucratic overreach for Consumer Protection. Examining the cfpbs latest action to restrict composition in the payments. Without objection all members have five legislative days to submit extraneous materials for inclusion in the record. I want to recognize myself for five minutes to give an opening statement. Todays hearing, bureaucratic overreach or Consumer Protection, examining the cfpbs latest action to restrict competition in payments in my view is critical because its going to talk about this large participants in the general use of Digital Consumer payment applications market. This is the sixth lpr that the cfpb has initiated. And putting aside the egregiously short Comment Period which frustrates both members of this committee, the deeply flawed cost benefit analysis which are both have become hallmarks of th
And very, very well said. Charles payne, everyone. Great guy. Thank you, charles. Yes, good afternoon, everyone. Im ashley webster, and we begin this final hour of trade with a fox market alert. The bulls, well, apparently running low on energy after a stampede start to the month of may. Nasdaq as you can see holding onto gains, largely up about a third of a percent led by apple, tesla, and nvidia. S p 500 swinging between gains and losses down over essentially flat right now and in the dough, the dow is off about two tenths of 1 . The blue chip index is coming off its best week of the year so far last week but the dow now in jeopardy of snapping an 8 day winning streak. We shall see. Intels gain, not enough to keep the dow in the green. Intel up around 2. 5 but not enough. It is leaving leading the index and chip maker reportedly nearing 11 billion deal with apollo to build a facility in ireland. It will need a little luck of the irish and shares down nearly 40 and back in the u. S. V
It is 10 00 oclock eastern, straight to the money. I see green. I went to 40, nasdaq up 100point, a modest rally. Ten year treasury moving up again you are at 4. 71, im surprised thats not taking a bite out of the nasdaq, the price of oil moving down but there is a threat of a wider war and that could be the financial canary in the coal mine so to speak. Of oil goes up i suspect the stock goes down. As for bitcoin there is a rally 28000 small change, that is that modestly that is the market on a monday morning. This is a Pivotal Moment for the biden presidency. If it ran unleashes hezbollah to attack israel were a will our president unleash our military. He warned against any attacks and simply dont he moved to Carrier Strike groups to the immediate area our power is in place ready to be used. The iranians make threats in the foreign minister says i want to warn the war criminals and those that support it before its too late to stop the crimes against civilians in gaza any step of resi
Plants. Well get the latest. And the iae saying the israelhamas war has oil markets on tenter hooks. The general take means the fed may look past this one. Well, look, theyre struggling on shelter very much because its rent. They took the housing out in the early 80s, and theres just not enough places built. We had some numbers this morning, i was watching on frank hollands show. Its 1 down in new york. Thats not thats not going to cut it. Jay powell wants to see housing rolled back a little bit more. Its up 40 . Rental, you need more apartments built. I think that he wants to see more good numbers in a row, and i cant say this is a good number. People were hoping for a 0. 1 and you do have 0. 1 if you take core exshelter, and people are looking at some of the new rent data and that will eventually get folded into these monthly numbers. And i think energy. But i just think that what happens is that you hope that other things make it down and make up for it, and you dont. Look, rent it
Its pretty weak overall. You look under the hood, theres the picture from the three sectors i mentioned. Financials, theyre lower too as they get ready to kick off earnings season. Citi, jpmorgan, wells fargo, all of that before the bell. Tech, well, it was one of the only decent spots today. Even it has rolled over. We show you the tech xlk etf. The nasdaq performing better lately and still on track for a relatively strong week, can tech alone carry the market higher into the end of the year as it did for the First Six Months of 2023. Lets ask someone who count thes several tech names of top holdings. With us today at post 9, joe terranova, joe a cnbc contributor. Its good to have you both with us. Amy first, were still worried about rates, obviously. Weak auction, cpi, ppi, both a little hotter than expected. How do you see it . Yeah, i think, you know, the market is obviously on its toes. Youve got higher for longer. Thats the bottom message. Youve also got a number of market dynami