Biggest loser. You just heard from courtney, after missing on earnings and slashing that forecast joining us for the full first hour, wealth management. Josh, as we just mentioned, fedex down a full 10 on earnings whats your take on that its important to point out that this trend in fedex stock actually began in january 2018 its been falling almost two years straight with very little respite on the way down. At this point, i think the answer, what you do with fedex, differs if youre a trader or an investor if youre a trader, youre not buying the stock i dont think theres any Material Support looking back at a tenyear chart until about 119, 120 that was prior resistance. It broke out it has retested that level before successfully. Thats where i would look at a tradeable bottom were not quite there yet. If youre an investor, you have to look at this moment to say this is maybe conceivably the most confluence of events. Having trouble integrating the tnt acquisition, thats a headwind ther
We will look at the performance of asian makers and hear from General Motors. Lets see how things are shaping up for asian rackets. Markets. Roilings tweets are markets and the stocks look to be opening at a low. Taking a look at nikki futures, down a little more than 1 . This brings on the prospect of more retaliation. That will be way down on the. Hares of these Asian Companies especially when japan opens, we will be seeing whats going to happen between japan and south korea. We are expecting the Prime Minister to have an announcement about how they treat those south korean companies. Looking closely ahead to that as well as checking on the commodities later. Sophie thanks so much. Checking in on the terminal. Oc been numbers coming up, rounding out the three big lenders. Net income at 1. 22 billion compared to the estimate of 1. 9 billion. Allowances for loans and other assets came out at 111 million. Secondquarter growth was likely driven by expansion in interbank rates. Income was
Mcmullen on persistent inflation and how the consumer is doing at the grocery store. Its a big deal for sure. Topping tape this morning is the focus on the fed and what youre seeing right now from markets is wait and see, Holding Pattern, if ive ever seen one. The s p is just about flat on the session and the nasdaq is outperforming, if you want to call it that, sarah. Its up about one quarter of 1 . Right now, weve got cnbc senior economics reporter Steve Liesman joining us right now steve, sarah and i talked about it this is very much about what the fed is going to say. Is there any surprise happening or is the market pretty much just baked in, that one quarter percentage point hike at this point . Actually, both of those are true the market has baked it in, but i think theres some possibility that the fed looks at the landscape, especially the landscape as tainted yesterday by the Regional Bank, the decline of Regional Bank stocks, and says, you know what, this is a problem here and
And were hanging out there now. Utilities, financials, they are among the standouts this week. Yields are up a bit too on some hawkish leaning fed speak, and were going to get to that in a minute as well it does take us to our talk of the tape the rally, how resilient this market can remain. Lets bring in kevin gordon, Charles Schwab good to see you. Its been a minute. Nice to see you this markets been incredible its been resilient in the face of so much theoretically its had this nice bounceback. What should we make from it . I think whats nice is through this mini pullback correction, whatever you want t call it, youve removed frothy sentiment as a pretty big risk that had been a risk from midnovember up until march where you had seen indicators on the behavioral and the attitudinal side that had gotten way into excessive optimism territory. As we know from history that can happen for a while until you get a negative catalyst to tip you over that negative catalyst probably ended up b
Worst down by 1 the nasdaq off by. 6 . The s p down by. 50 lets take a look at treasuries now. You can see at this point the tenyear yield at 4. 68 yesterday on that data that we got at 8 30, the twoyear moved above 5 we have the pce number today squawk planner two reports before the opening bell chevron and exxonmobil in the next 90 minutes. You see two big interviews after those reports. Darren woods will join us at 7 30 eastern time this morning chevrons c, o mike wirth will be on at 9 45. Po we will get key Economic Data at 8 30. Core pce is expected to rise without food and energy. That is down from the february reading of 2. 8 . U. S. Secretary of state Antony Blinken meeting with xi jinping. He told xi there has been progress since the meeting with President Biden back in november there are still many issues that need to be resolved. The meeting comes as u. S. Officials have been raising concerns about chinas economic assistance to russia earlier in the day, secretary blinken me