Ferro, Lisa Abramowicz and annmarie hordern. Jonathan lisa told me off last time we did this, lets get to the weekend. I will start every hour with that. Live from new york city, good morning for audience worldwide. It is payrolls friday, equity futures on the s p 500 positive by. 1 . The most important payrolls print since the last one, until the next one. Will a double down on the booming 353,000 of last month. Lisa we are positioned for heads i win, tails i win, ultimately no one is betting on a reaccelerating inflation growth and thats what we are expecting from the payrolls report. 200 k is the estimate this morning. Weve had the adp, the services component, the employment component. None of it was this big blowout upside surprise that we all feared a few weeks ago. I was going through this and every time i kept kicking myself everything about the data has been goldilocks. Its the reason why people are pricing out the idea of reinflating the economy or true real weakness either. I
Decline and a loss of momentum in the market overall. Steve, this is one of those situations where over the last couple of weeks there have been folks who have said the market has been hot this year its due for maybe a breather. Is the problem right now the idea that there is no nearterm catalyst to propel things back towards the upside yeah, but you could argue there were no nearterm catalysts to propel it to the upside from the beginning of the year in fact, there are negative catalysts that should have propelled it downward. I dont think its necessary catalysts. The market was tough to figure out all year this is the easiest part of the market to figure out, because it had a big run, were in the dog days of summer, volume is lighter and its typically when the market takes a breather. I dont think you can draw anything from the direction. Im so tired of hearing about the 50day moving average. Hearing about it every 10, 15 minutes. It Means Nothing it may mean something for shortterm
We will come to order. The tears authorized to had to recess at any time. This is the Federal Reserves that are annual monetary report. Without objection, all members have five days in which to submit extraneous materials for inclusion in the record. I will note at the outset, we have a hard stop at 1 00 p. M. To the observed. I see chairman powell smile. Thats three hours. I will know recognize myself for the opening statement. In june of 2023, the conversation in washingtons concerning inflation shifted significantly. Not because of the lectionary fire has been extinguished. From the most recent data available, food cost is up 21 as President Biden took office. Energy costs are up more than 32 . Shelter costs are of more than 19 and you will pay 37 more for a dozen eggs in america today. As we said in january, people are still paying more for the basics of life and the prices they are paying are still high. And they arent happy about it, as you know, it is our colleagues know. But ac
New investment restrictions tied to china its wednesday, august 9th, 2023, and youre watching Worldwide Exchange right here on cnbc. Good morning welcome to Worldwide Exchange. Im frank holland. Lets get you ready to start this day as always kick it off with a check on u. S. Stock futures. Right now were seeing them in the green across the board open up about 08 points higher nasdaq, more than a third percent higher in the premarket after a rough session for stocks yesterday. Investors digesting the moodys downgrade that sent major u. S. Officials sinking. Goldman sachs closing 2 lower, citi down 1. 5 and wells fargo jp morgan largely spared in this situation. This morning, were seeing a bit of a mixed picture take a look at how the stocks are performing right now in the premarket. Were seeing some of them still in the red as you can see, goldman sachs, jp morgan fractionally lower, bit of a rebound for bank of america, half percent higher, wells fargo up. 25 . Bond market, as always,
Nikki haley took herself out of the president ial race, Jerome Powell didnt exactly push off an imminent cut in Interest Rates. You might take powell and the points on this. Charlie gasparino driving investors now. This is a slam dunk. The markets, Jerome Powell have more influence and for the time being president ial candidates, but lets sort out what powell is saying. How do you see it . Charles it has been telegraphed. I wrote a column, hes been telegraphing rate coverage and it wont be march and it will be june. Hes telegraphing it will be 24 basis points. Thats what the markets are saying. Confirmed his telegraph that we reported on the show. Neil things are really far pushed off. Charles i told people, they told me june, 25 basis points, thats the likely scenario unless something wild happens with inflation if it starts popping up. The last cpi print was three. Adam as long as you are trending. Charles he thinks he will get it by june one thing about powell, whatever he telegraph