Mcmullen on persistent inflation and how the consumer is doing at the grocery store. Its a big deal for sure. Topping tape this morning is the focus on the fed and what youre seeing right now from markets is wait and see, Holding Pattern, if ive ever seen one. The s p is just about flat on the session and the nasdaq is outperforming, if you want to call it that, sarah. Its up about one quarter of 1 . Right now, weve got cnbc senior economics reporter Steve Liesman joining us right now steve, sarah and i talked about it this is very much about what the fed is going to say. Is there any surprise happening or is the market pretty much just baked in, that one quarter percentage point hike at this point . Actually, both of those are true the market has baked it in, but i think theres some possibility that the fed looks at the landscape, especially the landscape as tainted yesterday by the Regional Bank, the decline of Regional Bank stocks, and says, you know what, this is a problem here and
Control in the northwestern u. S. Hello, greek media are reporting that Prime Minister will call a general election for september the 20th even though he has only been in office for seven months and the Left Wing Party were elected after pledging to end austerity cuts and agreed for reforms for greece to receive bail out funding and they rebelled against the latest deal. With me now in the studio is dennis an associate professor of economics at the university and thanks so much for coming into the studio, one key important issue about all of this is clearly the bailout package and funding that greece has received. As far as you are concerned is that now in concerned, is the Bailout Program now in danger fell elections are called . It went through parliament and the German Government and is in safe hands but what is the problem is the physicianable stability in greece, will they have a stable government Going Forward and we will find out in the next couple of weeks. How important is it
And with all the sports including spanish forward pedro is ready to check in as chelsea completes the transfer deal from barcelona. Hello, in the last hour the greek Prime Minister alexis has formally announced resignation and called for this in a months time and the party were elected seven months ago after pledging to end austerity cuts and agreed to reforms in exchange for a third bailout from international lenders. And speaking just a few moments ago it was the peoples turn to decide who should take the country forward through the next stage of economic recovery. Translator i decided to go to the president and submit the resignation of the government. The peoples exhausted its limit and you with your vote will decide how we represent the country with resolve and courage with the difficult negotiations required. You with your vote will decide if the agreement we have reached with creditors provides the elements for the economy to recover, and finally get rid of these bailouts. Lets
Plus. Im in kuala lumpur where an ancient river is getting a new leash on life. Fears of a slow down in the worlds second biggest economy china are continuing to spook markets across the globe and shares plunged across asia and europe and currency is also falling. Chinas shanghai complex went down 8 wiping out the entire gains for the year and its the biggest oneday fall in years and beijing deployed the billion dollar fund to pump up the market with 400 billion of assets to buy stocks failed to stop the decline, from malaysia to brazil oil and commonty exporting nations have seen their currencies hit multiyear lows and as chinas economy slows its not importing the Raw Materials to power its factories and sent the bloomberg Commodity Index to its lowest level since 1998 and neglect in crude sent Oil Prices Tumbling to 44. 55 a barrel, the lowest since march of 2009 and more from adrian brown in beijing. Reporter the share shell off began within minutes of the Shanghai Stock Exchange op
Fight corruption. Hello, stock markets around the world are sliding following a big sell off across asia and european markets are all now trading in the red, london has fallen below the 6,000 mark wiping more than 46 billion off the value and began in china, the worlds second largest economy and stocks plunging to an eightyear low and adrian brown has more from beijing. Reporter sell off began in minutes of the Stock Exchange opening and at one point it fell 9 and recovering only slightly. Some of chinas Biggest Companies and the worlds biggest are listed here. On monday the government announced a new and risky intervention to try and prop up the market by using billions of dollars from the state pension fund but it failed to stop the slide. Translator how can the markets drop everyday like this . One, two, three, four, five. The market dropped for five days and it never rose back. Reporter many borrowed to buy shares and are now being forced to sell those shares to pay back the loans.