But the house is still out and no new negotiations are scheduled. Consumer confidence is plunging taking the market down with it. Which ended 16 points. Trending back and forth. As jobless claims to drop to the lowest level. Today we look at the un study future of the middle east. What risk lies ahead lets get to speed with the markets are we going over the cliff . Consumer confidence is dismal lets go to Nicole Petallides at New York Stock Exchange. The market under pressure hovering around 13,000 where were sitting right now. Othellos of the day. We have recouped some of the losses but were still down over 100 points. Every single component is a red. Johnson johnson. Pfizer. Aluminum. And materials. Jpmorgan that hit a 52 week high it is now a loser. With the vix index look at the levels the volatility index it is a showing and the indication there is nervousness with washington. What will lawmakers do with a decision . This is the highest point of a oneyear term. The highest point i
i will whisper it during commercial, know. we need to see the labour market data and elation data and spitting. neil how much is all the spending complete accomplishing? it doesn t help your cause does it? it complicates things, we know a lot of stimulus was part of the driver, not all of it but a contributor to the high inflation we ve seen. and i go and look at where his investment taking place and where construction is taking place, we know for example the spending on infrastructure and spending on new chip plans all of that on the margin is inflationary. is a big enough to move inflation at the national economy level? that s a little bit unclear. that cost purposes where you have some programs that are well-meaning and for good reason the congress is focused on. in the meantime are try to get demand down in the economy so there are some complications that were having to navigate
unfortunately something the bank of england would like to see, and the effect of a major collapse in house prices. that is public the most severe part of the test and we may not see a housing market collapse on that magnitude but i think we will see following house prices and we are going to see some distresses in the mortgage market because as you mentioned, people who are facing very large increases in their mortgage interest free payments when they repriced their fixed term mortgages. they repriced their fixed term mortgages- they repriced their fixed term mortgages. inflation at 8.796, remaining mortgages. inflation at 8.796, remaining higher mortgages. inflation at 8.796, remaining higher than - mortgages. inflation at 8.796, remaining higher than we - mortgages. inflation at 8.796, - remaining higher than we expected. those suggesting there was something in yesterday s labour market data which could be a turning point, i wonder what your thoughts are on that? , ., g , wonder
for many firms to find workers. there is a shortage of workers. that means that many firms are hoarding labour even when they re audible to slow down, they re audible to slow down, they know they will have difficulty getting skilled workers in all people who know how to do the job, so they hoard them, otherfirms hoard them, other firms therefore hoard them, otherfirms therefore are really scrabbling around to find new workers. so that s an issue. yesterday we had the labour market data, we had the labour market data, we had significant health, really, in the level of nominal wages, partly because minimum wages went up as well. but very sticky wage inflation and that s one of the reasons driving our inflation rates. we ve had 18 months of falling real wages. employment levels are above pre pandemic high but the rate remains sluggish. just ask the junior doctors. is the wage growth we ve been seeing recently notjust the labour market playing
The labour market data is highly followed for its possible influence on the Federal Reserve s policy choices, but analysts predict the most recent results will not be enough to cause the central bank to suspend its interest rate rises