The message of inflation is going up in part because of wage pressures and the big drive is driven by shock. So i would kind of do that after the regional whats interesting under further study is that the wage for the u. S. Seems to be working very well. Thats the point and even over time it hasnt flattened very much thats t what mathew made in a nice discussion. Maybe more to see. It might be the call date has changed and they are left out for the cpi or city basket. But in terms in waste space, it sends to be working well and it is left here. Yes, you have raised many important points with your question. I think one way of thinking about it. I think the points you alluded to, those are price changes that are very salient, important for daily life and easy to measure. Its that, if you think about an iphone, lets say you have a price of 999 for the last 15 years, even though an iphone today is a very different animal than an iphone like 50 years ago. So official statistics takes this i
Australia. We are counting down to asias major market opens. The top stories this hour. U. S. Stocks rise at fed speak. Oil holds on fears of an expanding middle east conflicts. Haidi Benjamin Netanyahu says retaliation has only started against hamas, who says they are prepared to kill hostages. Shery but also facing criticism. We saw the s p 500 gain ground today, everything earlier losses. We did get a couple of fed speakers suggesting a more cautious policy approach given the high treasury yields perceived as more dovish so we had u. S. Stocks gaining ground in todays session despite the water risk of sentiment. We also will have cash markets not open today because of the u. S. Holiday. European rates also railing. Expect to see cash trading resume in the asia session in a couple of hours so we could expect yields to slump. Meantime, oil prices continuing to rally at one point in the new york session getting more than 5 . We are still at the 86 barrels 86 per barrel level. Take a lo
Worst down by 1 the nasdaq off by. 6 . The s p down by. 50 lets take a look at treasuries now. You can see at this point the tenyear yield at 4. 68 yesterday on that data that we got at 8 30, the twoyear moved above 5 we have the pce number today squawk planner two reports before the opening bell chevron and exxonmobil in the next 90 minutes. You see two big interviews after those reports. Darren woods will join us at 7 30 eastern time this morning chevrons c, o mike wirth will be on at 9 45. Po we will get key Economic Data at 8 30. Core pce is expected to rise without food and energy. That is down from the february reading of 2. 8 . U. S. Secretary of state Antony Blinken meeting with xi jinping. He told xi there has been progress since the meeting with President Biden back in november there are still many issues that need to be resolved. The meeting comes as u. S. Officials have been raising concerns about chinas economic assistance to russia earlier in the day, secretary blinken me
Dow was down 2. 25 . If you look at what has been happening with treasury yields, this is the question. Will the fed cut and by how much the question is when. The tenyear note at 4. 44. We have seen yields push up. I think traders are actually betting that two rate cuts are more likely this year. Just seeing that in the fed futures at this point. We get inflation data this week with the cpi. That is key. Last week, we were talking about the jobs report and people were saying the Inflation Numbers are more important. The jobs number is big. We will talk to Mohamed Elerian about the topic later. And breaking news. The Biden Administration announcing funding from the chips act. Taiwan semiconductor is giving 6 billion in grants and 5 billion this loans for the factory in phoenix and then a third was announced. Gina raimondo will be on squawk on the street to talk about the chips act and the award at 9 30 a. M. Eastern. That is good news for Taiwan Semiconductor and good news for america.
Highs. A government shut down averted by now well talk to gary cohen from the white house in a few minutes. And elon musk talking about the race to mars first up though private sectors up 221,000 in the last month upward september and october added jobs later on we will talk to gary cohn the director of the president s counsel. Its up from the prior 2. 4. Look, i have very little to pick on. I think this is a very good number the thing that caught my eye, for that emphasis, what caught my eye was manufacturing added 30,000 jobs, kind of a wr renaissance happening in this country. 2. 6, first time under 3 thats a record low. People making jokes this morning what robot revolution are we talking about. We have workers having plenty of choices. Well, i mean, it may be coming but there are plenty of plants being built when you talk to the Utility Companies whats going on in the southeast portion of the country, tennessee, and kentucky and texas, they cant keep up with the building, and a lo