President john gray says the fed is having real success on inflation. The earning clouds roll in. Tesla dials back of expectations American Airlines cuts. From new york, i am alex deal with my cohost in london. I really expect 10year to be at 5 . We are not there yet. Guy you said to me, guy you are going to break the existing wholesale on you. Home so on you. Heres the reason why. It is a broken market. The headline rate is 8 . This is why this market is broken, i think this is the lowest number since 2010. The existing home sales coming in at 3. 96. It is not a good number. It does not tell us anything, and a lot of people, like alix steel are not going to move. Alix that was in keeping with ok. Markets not moving at all on this. You are seeing yields back up a little on the long end. Stocks go nowhere. Our big story of the day, fed chair jay powell will be speaking at the Economic Club in new york. He will be sitting down with david westin in a exclusive interview. I can attest, i s
A lot of things going on at the index level, macrolevel. Look below the surface and there are some really interesting trends. 4. 88 . The reason for that, it has had to stop a kidney failure study that is being done early. That sounds like a bad thing. It is a fantastic thing, this thing is meeting all its goals early because of the success they are having with this drug which seems to be multiplying the number of things it can treat right now. Nova goes higher. If you are in the dialysis business, this is not good news. Down a little bit more earlier on. It is these kinds of clients that are providing some really interesting single stock opportunities right now. On the index level, we go nowhere. Alix something that hardly say, youre totally right and you can see that reflected here as well. Lets look under the hood for a second. Exxon is down by 4 , continuing to roll over here. Interestingly, one of the bestperforming stocks is caesars. You wouldnt think they would be doing so well
Customers can switch and use multiple providers easily. To really challenge amazon in the marketplace. Alstom shares are off to the worse start. A clouded market environment. Well check in later this morning when we talk to ceo first on cnbc. And republican hopefuls jockey for position in the race to replace House Speaker mccarthy as the kay wros on capitol hill continues ahead of another looming government warm welcome to street signs. Our top story this morning, uk competition and market authorities has launched a probe into the countrys cloud industry after referral from the countrys communications regulator. Concerned about amazon and microsofts position in the cloud sector, saying that some practices are making it harder for customers to use or switch between multiple cloud providers. Microsoft has said it will engage constructively with the investigation. Offcom told cnbc that businesses are concerned of not being able to move between providers. Theyve reduced concept. Theyre con
The cpi numbers earlier. While the headline cpi did increase, core cpi which excludes volatile inputs such as food and energy is actually higher. Its at 4. 3 . And thats illustrating that underlying inflation seems to be a lot stickier than anticipated, which, as far as fed policy goes, means that rates likely have to continue to stay higher for longer. The Federal Reserve has been keeping rates high, and that is likely to be the strategy we are expecting to see . Exactly, yeah, and there is other tools that potential they could leverage, such as reducing the size of the balance sheet, through so called quantitative tightening, and that could push yields up and increase Borrowing Costs which, in essence, has similar effects raising interest rates. As far as markets go, they are expecting the fed to raise rates not at this upcoming meeting, i believe, next week but actually more likely in december. Dimitri, how have consumers and businesses really responded to the rising Cost Of Living
Shelter and housing. And particularly you mentioned the cpi numbers earlier. While the headline cpi did increase, core cpi which excludes volatile inputs such as food and energy is actually higher. Its at 4. 3 . And thats illustrating that underlying inflation seems to be a lot stickier than anticipated, which, as far as fed policy goes, means that rates likely have to continue to stay higher for longer. The Federal Reserve has been keeping rates high, and that is likely to be the strategy we are expecting to see . Exactly, yeah, and there is other tools that potential they could leverage, such as reducing the size of the balance sheet, through so called quantitative tightening, and that could push yields up and increase Borrowing Costs which, in essence, has similar effects to raising interest rates. As far as markets go, they are expecting the fed to raise rates not at this upcoming meeting, i believe, next week but actually more likely in december. Dimitri, how have consumers and bu