Unreasonable. Ev price wars back on. Tesla cuts price on some models in china the American Consumer just continues to spend andnot just on the essentials. Latest figures from mastercard it is the latest on monday, august 14th, 2023 of t you are watching Worldwide Exchange here on cnbc good morning welcome to Worldwide Exchange. Im dominic chu in for frank holland. Lets check on the futures it is on the Positive Side of things dow implied higher by 33 points. S p implied higher 8 nasdaq is 46 points of the dow riesing in the last fou of five weeks. The tech sector has been stumbling. Nasdaq with the pullback of 4. 5 the worst stretch for the index going back to december of last year checking on the bond market. Yields in focus. 4 level in key. We are there for the 2year treasury or rather the 10year treasury the 2year treasury is 4. 9 . A bit of a pullback on the longer end 30year treasury is 4. 26 . In energy, oil prices are still a little high. 80 for u. S. Benchmark wti down. 50 . Si
Is a big reason why, bouncing back, 6 today, more than 6 as this rally picks up. Its about 15 to drop off in the last month or so. We will have more on that in a moment. Started the big deal if u. S. Steel sewing 30 , even though it rejected the takeover offer from cleveland cliff. Its unusual to see that kind of move. Whether this deal or a different one could be on the horizon for the original x, tyler. Stocks have been falling across asia. This is about real estate in china. Lets bring our friend dennis. He works with u. S. Companies doing business in china and has been warning about the troubled state of chinas economy, and this does nothing to improve that, does it, dennis . In part because real estate is such a huge percentage of the chinese economy. Tyler, 25 to 30 of chinas economy is real estate, so when you think about it, you take 25 to 30 of our economy, it went down, and how much that would be . You spoke about last week chinas really poor Economic Performance in q2. Ever
Metals on his outlook on what is turning into a very interesting commodity space. So far this morning, weve seen all three major indexes in the green. Staging a bit of a rebound from earlier when all three were in the red. When we started the show last hour so, you know, some kind of mixed commentary today the overbought theme is still out there. Youve got some concerns about china and potential contagion risks over there now some additional headlines. The tenyear back to 4. 2 and breaking news out of the fed lets get to steve liesman. Good morning, carl. New york fed Household Expectation showing oneyear expectations falling from 3. 5 to 3. 8 . A fairly large decline in inflation among the population oneyear Inflation Expectations are at their lowest level since april 2021 this follows a similar decline from michigan. Oneyear expectations are down 3. 3 Percentage Points from 6. 8 in june 2022 theyve come a long way in a year threeyear down to 2. 9 but it has been there in the past and
European banks. This morning, things are shaking some of those concerns just a little bit. The dax is up. 75 . The cac in france up. 30 . The ftse is flat. Crude oil picked up. Pushed back above 40 yesterday towards the later half of the session and that did help stock prices. This morning, wti giving back about. 25. 40. 60 is like a c minus. Every time it fulls below 40 m people think ha is going on. We did get numbers on gasoline drawdowns. That helped some of the oil prices. Maybe the demand picture not as weak as people have been concerned. Well talk oil over the next three hours. Good morning, everybody. Also on your agenda today, bank of England Holding the policy meeting. Due out in about an hours time. The bank of england is expected to cut rates and could also launch a new round of quantitative easing so we could get some action around the boe coming up. In the meantime weekly jobless claims out. They are expected to hold right around 265,000. Then at 10 00 a. M. Eastern look
Feds speak is bouncing us all around the block. Well get to that. Our road man begins with hails celestial, delaying 30 , citing an accounting review, reporting it does not expect to reach its anticipated sales in profit levels. Cramers off but hes going to call in on this one. Its also a huge week for retail. In the spotlight, home depot, we dig into the company and the positive out like. Well take a look at where we may go from here. Hails celestial announces it will delay its Earnings Report due to accounting issues. And simon is on mad money back in may when, he talked about hiring outside counsel, take a listen. Our business got a lot more complicated. What i decided to do is call some outside help. A little unlike to you do that. People thought maybe he need some help personally or whatever. All right. And with that i brought in some outside help and to come back and look at hain all of these Big Companies hire 0based budgeting. So what i decided to do was take a look, how do we