We start with the first major wall street bank to remove recession from their outlook the chief economist is standing by to make his case. And if the economy isnt deteriorating, why the downgrade, is it a warning shot to washington . Well ask the man in charge, dan clifton is here. He warns we shouldnt see more signs of stress building and the fed may need to cut rates. And well bring in the ceo of Summit Global investments. How should investors be positioning in response . Lets start with the big call from bank of america mike, thanks for your time and for rejoining us the last time we talked you had just kicked your recession call into 2024. And now it goes away entirely . Yes so thank you for having me on, kelly. Yes, i think we have seen enough, at least in the resiliency of the data, the upgrade to prior growth numbers, the solid gdp numbers. But theyre also happening in an environment where wage growth is moderating and inflation is moderating thats only happening gradually. Ther
The 10year treasury is yielyieldin 4. 19 . I believe these are sitting at high levels for yields for the year i had a computer problem before we started. Of course. Thats why i was asking you i was deferring. Lets look. It is clear it is high yields for the year if you look at that year to date that yield up 8 all of this is happening as we got stronger than anticipated adp numbers this week and the downgrade from fitch can i point out, becky, look at when this is higher than the last time which is back in march when we had the problem with the regional banks oh, thats very interesting too many alarm bells. We are back to the pressure on the banks. Now, they had a lot of time to get their act together they had the fed program to take their tired, poor, hungry and underfunded bonds to the fed and get 100 financing off that. It is an area where there was pressure on the bacnks. We have to watch the regional banks. I havent looked in a day or so. They were doing quite well and i dont know
Look outside the usual suspects in the equity market why Morgan Stanley says Southeast Asia is the place to be. Later in the show. Record Box Office Weekend as barbenheimer exceeds all expectations monday, july 24th, 2023, youre watching Worldwide Exchange right here on cnbc monday morning welcome to Worldwide Exchange. Im frank holland. Thank you for starting your day with us. Lets kick off with the dow riding a 10day win streak thats the longest since 2017. Taking a look at futures in the green across the board the dow would open up 50 points higher as we always say, this is early. This is a busy week for wall street 40 of the dow, 30 of the s p 500 set to report. Were talking names like boeing, meta and microsoft we get a trifecta of Central Bank Decisions with the fed kicking off things wednesday before the ecb and bank of japan. They make their own decisions on rates. One week away from what could be the costliest labor strike in at least 100 years with ups and the teamster negoti
Look outside the usual suspects in the equity market why Morgan Stanley says Southeast Asia is the place to be. Later in the show. Record Box Office Weekend as barbenheimer exceeds all expectations monday, july 24th, 2023, youre watching Worldwide Exchange right here on cnbc monday morning welcome to Worldwide Exchange. Im frank holland. Thank you for starting your day with us. Lets kick off with the dow riding a 10day win streak thats the longest since 2017. Taking a look at futures in the green across the board the dow would open up 50 points higher as we always say, this is early. This is a busy week for wall street 40 of the dow, 30 of the s p 500 set to report. Were talking names like boeing, meta and microsoft we get a trifecta of Central Bank Decisions with the fed kicking off things wednesday before the ecb and bank of japan. They make their own decisions on rates. One week away from what could be the costliest labor strike in at least 100 years with ups and the teamster negoti
Look outside the usual suspects in the equity market why Morgan Stanley says Southeast Asia is the place to be. Later in the show. Record Box Office Weekend as barbenheimer exceeds all expectations monday, july 24th, 2023, youre watching Worldwide Exchange right here on cnbc monday morning welcome to Worldwide Exchange. Im frank holland. Thank you for starting your day with us. Lets kick off with the dow riding a 10day win streak thats the longest since 2017. Taking a look at futures in the green across the board the dow would open up 50 points higher as we always say, this is early. This is a busy week for wall street 40 of the dow, 30 of the s p 500 set to report. Were talking names like boeing, meta and microsoft we get a trifecta of Central Bank Decisions with the fed kicking off things wednesday before the ecb and bank of japan. They make their own decisions on rates. One week away from what could be the costliest labor strike in at least 100 years with ups and the teamster negoti