September, and if you havent paid attention tesla shares are down 10 this week alone only two trading days. If they had gotten ai from oh. Well talk about that, a war of words, openai is firing back at elon musk. Theres 1 chance well talk about it. Publishing emails appear no show the tesla cofounder did support creating a for profit entity. Lets begin with the markets and the testimony from the fed chair today. Jim, got some news on what he will say in terms of written words. Yeah. Look, i kind of when march is off the table, i think this is, obviously, one of those, i want to get a little more expansive and getting tired of the game of what month instead, what i see is a man who said listen, were not going to have a hard landing or soft landing. Were fine if it gets weaker well cut. Its kind of a Great Central bank essay about what you need to do in order to be able to get out of an inflationary period. David, i think hes becoming more of a, lets just say a true statesman how far to
standard, and i used to be deputy chief of the criminal division in the southern district of new york, i wouldn t have touched a guy like michael cohen, especially if he s a convicted perjurer. that s robert costello after testifying in manhattan yesterday, and he could be the last witness the grand jury hears from before voting on an indictment for the former president. we ll break down what s next in the case in just a moment. meanwhile, more members of the oath keepers are held accountable for the violence on january 6th. and also ahead, what we re learning about the first face-to-face meeting between chinese president xi jinping and russia s vladimir putin since the invasion began. began good morning, and welcome to way too early on this tuesday, march 21st. i m jonathan lemire. thanks for starting your day with us. we ve got a lot to get to. we ll begin this morning in new york city, and the manhattan district attorney s office ahead of a possible criminal indict
Of course nasdaq plunging 1. 76 . You have to be mindful we have to be on the lookout for whats called a whoosh or a crescendo of selling that causes a bottom. Usually intraday dont worry, im just putting you on notice. May not happen tomorrow, may not happen next week but it will happen if stocks keep going down like this and the bond market one day stabilizes and we are no longer fighting the darn fed, which we still are. One day that will occur. Not yet. But thats why you need to be ready with your Shopping List of damaged stocks, not damaged companies. Because theyre whats worth buyi buying on the way down you tend to forget about them while this carnage occurs i like to have objective my favorite is when they have down to up volume of 91. It means finally the bulls capitulate and theyve surrendered and therefore theres nobody left to sell which means youve got to do some buying. Now, todays a typically ugly day, not the kind where you get that whoosh bottom i like to look at count
Winner. Im melissa lee, coming to you live from studio b at the nasdaq. On the desk tonight tim seymour, karen finerman, Bonawyn Eison and guy adami. We start with the markets second half slide. The s p has dropped 7 . If youre looking at grocery goods, General Mills, coke, pepsi, down 10 or more. Big box sellers, check out the moves lower in names like dollar general, target, best buy. And even higher end brands seeing outsized losses. One big culprit, higher Interest Rates, persistent inflation weighing on the consumer, and tomorrows jobs report, the first to capture the impact of the uaw strikes could show a bit more pressure being put on peoples wallets. So, do all these moves prove the consumer is facing a perfect storm of problems . We didnt even mention repayment of Student Loans in here, guy. Why yeah, just throw that in on top. Toss that in. Great movie, by the way, with george clooney. I think yes is the answer. And youre finding it in these stocks. The fact that targets mult
Below 100 billion from stress testing, so that makes some sense to me. Banks are not systemically important. Between 1 and 250 well do Something Else my strong preference will be that well continue to have meaningful stress testing for them because i think its a successful tool. Ing. Thank you senator warren. Thank you, mr. Chairman so i want to follow up on senator browns questions about full employment as you know Congress Gave the Federal Reserve a dual man date to pursue maximum employment and to keep prices stable the official unemployment rail is now 4. 1 . Many economists are predicting the rate will dip below 4 in the near future, and an Unemployment Rate this low in the past would have been considered full employment which would be good news for the workers that should be accompanied by higher wages. But wages have barely budged so let me start by asking, mr. Powell given that wage growth is so weak do you believe that the labor market is currently at full employment . Full em