The president criticizes the fed and europe as powell testifies this week. Deutsche bank announcing massive job cuts, exitinging Global Equities business, a highlyanticipated 8. 3 billion Restructuring Plan, but will it be the last. Another controversy brewing at starbucks well tell you what has the company apologizing this morning. Late last week, the s p was at within striking distance of 3k. Since the release of the stronger than expected june jobs number on friday, stocks have fallen on dampened hopes of a fed rate cut as the chairman prepares to testify on the hill later this week the president ramps up his criticism of the fed over the weekend. Take a listen. Despite everything, theyre not doing well and were doing great. Theyre not doing well at all, were doing great. Were taking money out and Interest Rates have gone up. If the fed didnt do what it did or even half, we would have the dow that would be as good as it is, it is doing good, but we would have a dow that would be any
Good afternoon, everyone, im charles payne. Im back in new york. This is making money. Breaking right now investors breathing a sigh of relief after this mornings cpi report. The market is rangebound between a major breakout point and critical support. Questions remain about the health of the economy. Where recession is. Talk of another inflation spike. Bottom line, none of that is out of the equation yet. On main street the big question when will Campbell Soup prices stop going up . Here is comes, folks, gasoline prices that might be the thing that upends the Household Budgets and the president ial election. Chinas economic boom has become a bust. Sew what does this mean . Could we see deflation imported to america . Plus the slow dismantling of esg which has been and investing disaster, poised also to become a manmade disaster if something isnt done. My take on that later in the show. In fact all that and so much more on making money. Charles all right, so you saw when the number hit
Secretary yellen later this morning. Auto strikes, day four with both sides digging in. The uaw rejecting the latest wage hike proposals while both ford and gm announce temporary layoffs due to the ongoing walkout. Plus apple reportedly seeing strong iphone 15 demand in china, and tim cook says the vision pro remains on track. Lets begin with the markets as we do kick off a new week. Jim, we didnt get to check in with you on friday. Any degradation, do you think, in this idea of a soft landing . Even the journal today takes a look at how it gets a little tougher from here. I do think that this auto strike is has potential to be very disruptive. I think that oil, clearly, to me, is headed to a hundred before it goes lower. Thats negative. The higher Interest Rates are starting to buy. Theres a really interesting call for lennar, stewart miller, the executive chairman last week, he was talking about the idea that the buyer is getting used to the idea that they have to pay more. Thats the
Telling cnbc we may not need the type of tax cuts being proposed. We have those details coming up. And a major deal in the media space. Maybe youve heard about it. It brings together bbetter home gardens and people magazines, Meredith Buying Time Inc for nearly 2 billion. Will this pave the way for more deals especially in the media sector where theyve been trying to get them done we have that coming up in a little bit. First, our top story today, the cyber monday surge amazon shares hitting yet another alltime high today. Courtney reagan joins us from an Amazon Fulfillment Center in robbinsville, new jersey, with the very are you packaging anything and sending it off as well reporter no, no, im not allowed to touch anything, so i will not be touching anyones packages dont you worry about it amazons prime day, bill, actually still Reigns Supreme at least as far as we know for its biggest day on record. Last year on cyber monday, amazon shipped 64 million items worldwide. Thats what was
Debate on whether investors should be buying this weakness before other banks report. Citi had been trading at an intraday high in the session earlier. Yes equifax shares dropping on reports of another hack. Well bring you those details and how the company is responding shares down about 1. 25 . As i said on twitter, whats left to steal. Im one of these idiots, if you may, who signed up for the whole thing. Yeah President Trump signing an executive order, you saw it live on cnbc, regarding healthcare. Well tell you whats in the order and well get reaction from that man, the former ceo of aetna, ron williams will join us to talk about whether he would if he was still running aetna, would he participate in the plan thats being brought up in this executive order . But we begin in washington with that surprise appearance moments ago at the White House Press briefing eamon javers was there to witness it he has more on the story youre right. It was a dramatic moment in the White House Press