Are watching cnbc. Good morning and welcome. We are keeping a close eye on the rally in airline stocks. You can see hear the industry reaching the Biggest Airlines in america up 5 to 7 to 8 this morning in trade. The dow would open down by about 358, s p losing about 45, implied. The nasdaq down by 104, 105 if these future losses hold into regular trading after the opening bell 9 30 eastern time today. This is after a broad rally where the dow dropped to 560 points and the nasdaq capping the first fourday winning streak since early february. In the bond market, we are seeing a bit of movement there more mark theedly to the day dropping down 21 basis points. Noticeable move lower in the 10year benchmark note yield the 30year at 1. 31 there oil prices after closing down yesterday, the lowest since late last month, the iea is out with a new forecast this morning saying Global Oil Demand will fall this year by a record 9. 3 Million Barrels a day. Wti trading at 19. 70 they say this erases
flying over the black sea. this is video of the type of reaper drone that went down. white house officials say that the russian move over international waters is the kind of thing that could spark a dangerous escalation between super powers. it could lead to m miscalculations between, you know, two militaries that are operating not obviously in ukraine together but certainly in proximity in the region. and we don t want to see the war escalate beyond what it has already done to the ukrainian people and so this is clearly this was inappropriate, unsafe, unprofessional conduct by the russian pilots. and salma abdelaziz is live in london for us. salma, russia and the u.s. have very different stories here about what happened. reporter: two very different narratives about what took place in the early hours of yesterday morning on the black sea. the united states says that russian fighter jets essentially reading between the lines harassed the united states drone. they say
start to be exhausted. so actually a lot of the cushion will start to run out. and so this is all adding to that impression that although things have been very good to this point, you are seeing a lot of those challenges pick up. probably that is what is likely to tip the u.s. economy into a very mild recession. but unfortunately, it is still to come. all right, sima shaw with a very mild recession call. thank you so much. deadline day for donald trump. will he make his case in the special counsel january 6 probe or wait for the grand jury to act. and a powerful tornado touching down in north carolina, the areas hit the hardest coming up on cnn this morning. and mine s unlisted. try boost® high protein with 20 grams of protein for muscle health versusus 16 grams in ensure® high protein. boost® high protein.
another reason to feel optimistic there. prices are rising more slowly than wages for the first time in this covid warned rped recovery. you can see the brighter mood in the stock market, all three major averages up big this year. look at the nasdaq, after a really rotten 2022. let s bring in sima shaw. so nice to see you. you told us that we should expect a mild recession maybe going into 2024. are you still holding to that or could a recession be avoided? there has undoubtedly been strong positive economic data in the last month or so from inflation, from the labor market, from the consumer. we re not moving away from the recession call, but we do still think that it will be extremely shallow. so we re still deal dealing with the after effects of fed
but it was a positive day in u.s. stocks yesterday. the nasdaq gained more than 2%. the dow snapping a five day losing streak. wall street taking a deep breath after regional bank stocks rebounded. and february s cpi report showed annual inflation eased, though it is still uncomfortably high. prices cooled for the eighth consecutive month. gas prices held steady at $3.47. and the big event today, retail sales number and factory level data due out this morning. i want to bring this chief global strategist at principal asset management sima shaw. and the entire industry is on watch here essentially saying that we should be prepared for more pressure in banking. what does that mean? what we saw over the weekend with silicon valley bank was really the impact from the very,