Years and the outsider has become an insider. You said when trump left the white house, the dc swamp was alive and growing just like our countrys federal debt, which grew by a stunning 8 trillion under trump do you stand by all that donald trump will admit that the swamp, a lot of people that worked for him, that were supposedly had allegiance to donald trump turned on him. Thats the swamp. He didnt he will be far smarter when he gets elected about who he who he yes, to work with him. And as far as the spending, he would agree, i mean, he came in at a tough time, but our financial crisis is the cancer in this country. And i think you will see a different donald trump on the spending for because we have to we cannot keep spending. So he recognizes all of that and i dont say that as a critical so as im i just those facts that were going to have to handle that this Administration Simply has not handled and the spending has been on steroids under him, as well as Everything Else that the Bi
Lauren goodwin, senior director of multiasset mfrl strategy. Lauren, good to see you. Good to be here thanks for having me, mike want to go back to just about a month ago right before the previous cpi report, right july 12th. The s p 500 within 1 of where it is right now and the 10year treasury yield at 4 where it is right now. When we got it, it was a bit of a kickstart for the late july rally and now weve given it back what is the status right now in your mind of the landing and the economic scenario and how much of that the market can benefit from or potentially have the market learned pretty good information from the last Inflation Report from june that we saw in july which was the disinflationary process has moved from an early stage to a more stable one and that is one where the fed is not done hiking and investors can be excited about the potential for a soft landing. I think its a little bit of a false start because until unemployment claims start durably rising, that narrative
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
Were always keeping an eye on tech. For example, apple share, can they stem what has been a sevenday slide . Chip stocks, though, continue to outperform. And the other big story, that weight loss boom and novo nordisk overtakes the market. Market reaction to the jobs number, not just the headline and the unemployment at 3. 9 but revisions taking about a third away the last couple of months. I think those of us who are used to the precision of Artificial Intelligence and generative a. I. Are just in shock that there could be a number thats this far off. This is the kind of thing that jensen huang could solve with his eyes closed. Why its so important, this takes away what was the hot number that made us a great threat and took away a spring rate cut. 3. 9. We know they remind me of the dow jones average. Very interesting headline, but its not really whats at the guts of this, but in a political year, what that says is, hey, look, the economy is slowing and maybe the fed should have pres
Crossed, it looked like a different picture. We had a reversal midday we saw stocks give up the ghost and treasury yields surge and 10year yield cross 4. 1. It was the reversal to watch i think it is because mary daly and San Francisco fed says there is more work to be done after the cpi number people thought it is not over yet. It aint over. A long slog here. The lady hasnt sung. You cant say which lady right on the squawk planner. More inflation data. Ppi is due at 8 30 a. M poll polled forecasters expect a tick higher of. 2 . This comes after the cpi data showing prices rose 3. 2 year on year which is below the forecast the Supreme Court blocked for now a multibillion dollar deal by Purdue Pharma from the opioid crisis. They will look to release the claims by nondebtors against nondebtor parties without the consent. The department of justice argued the release of civil liability is not authorized by the bankruptcy code. Purdue is optimistic the Supreme Court will agree which the cas