Scooped all the bears. Thats where our road map begins this morning. The inflation picture, of course, is what were talking about. Weve got wholesale prices increasing less than expected, as jim just said. Two banks also lowering their rate cut expectations. Thats off of yesterdays cpi news. Were keeping an eye on big tech as well. Nvidia shares, theyre bouncing ahead of the open. Jpmorgan, lowering its apple price target, and you just heard from amazons andy jassy, saying so many Different Things, including the fact that hes committed to costcutting while investing in a. I. Plenty of other stocks to track this morning. Nike, airbnb, chevron, occidental. Well go through all the upgrades and downgrades. Lets get to the Broader Market here. First, lets get a reaction to ppi after yesterdays selloff on the cpi. There was a lot to like. I think theres a lot of confusion about these numbers. I find that whats happened is that yesterday, there were a lot of mistakes in the data. What do you
Because the odds for a june fed rate policy pivot, well, theyre going it was just it was ridiculous. It was always going to be hot. Yeah, yeah. No. Plus, big tech divergence, alphabet, amazon at highs, jim, but apple and tesla, i dont know if you noticed, theyve been struggling a bit. Nvidia, were going to talk about that stock, of course. How could we not . Its entering a correction. Well, if you dont know what it is or if you think its my dog, then why dont you sell some. Finally, jim, the airlines are leading s p premarket gainers. Delta topping quarterly estimates. Its focused on efficiencies im focused on the fact that phil lebeau has been here for 25 years and hes the best. Lets not lose sight of real things. Hes the best he is. Rely on phil more than we ever have. Lets start with the market, get your reaction to the hotter than expected cpi print. Weve heard from the analysis in terms of expectations for a fed rate cut, which are fading fast. The yield curve inverting a bit. The
Good morning i am jane harmon. President and ceo of the Wilson Center. Happy to be speaking to a packed crowd and to welcome secretary Rex Tillerson back to the Wilson Center. As you know mr. Secretary, the Wilson Center has a tradition of honoring business and political leaders who follow our 20th president s victim, that would be woodrow wilson. To quote enable the world, live with greater vision, a finer spirit of hope and achievement. The Center Honors you in 2010. And you wanted us by attending our event in dallas in 2014 where richard fisher, outgoing chairman of the received our Public Service award. You and i said together. We are delighted to welcome you back this morning to talk about the future of us relations with europe and to take some questions from me and some of you in the audience. Since we only have 50 minutes of your time, those here today submitted questions on arrival and we elected a few at random which i will put to secretary. Your predecessors and most recently
Low. And its projected as the population continues to age in the baby boomers retire that that ratio will continue to rise in an unsustainable fashion. So, the addition to the debt taking what is already a significant problem and making it worse is it is of concern to me, and i think it does suggest that in some future downturn, which could occur just for whatever reason, the amount of fiscal space that would exist for fiscal policy to play an active role it will be limited, it may well be limited. Sam fleming with the financial times. Couple of longer term questions, first of all, midway through the year, hot weather inflation targets might need to be raised. Obviously been a lot more debate and have had systems since then about this it may not be an imminent issue, it may be something the feds may be discussing over the coming years. Some sort of change to the inflation target second of all, the amount of stimulus tools that the fed may have at its expo sal are fairly limited. One of
60 points after the dow closed at a record level yesterday. The s p closed lower yesterday all the major averages moved off the highs of the session this morning the s p is indicated up by 5 points the nasdaq up by 10. This came after the feds decision and after if looked clear that Republican Leaders reached an agreement, at least in principle, on where theyre headed with the tax bill well talk more about that green arrows across the board this morning in asia, the nikkei looked like it was down by a quarter percentage point similar declines for the hang seng and shanghai. This morning in europe, with some of the early trading, you will see that there are some declines across the board. The biggest loser is the dax down by a half percentage point. Cac in france is down by 0. 4 . We have the bank of england and the ecb going to be releasing some policy statements today check out crude oil prices which were lower yesterday crude oil at 56. 59 couple of big economic reports on the agenda