A new limits partnership. The welcome to the news that were beginning. Garza what intense buffalo, so taking place between israeli troops and palestinian sciences in the north and south of the strip in the coming of israel is due to present its case to the International Court of justice at the hague. On thursday, south africa as the you and stop cold, to old israel to stop is offensive and rough uh, in southern gauze that its an addition to south africas argument that as well as committing genocide in gaza. Well, despite that case and increasing international pressure, thats the new laptop, fitness, riley attacks, old, rasa. The defense minister says more Ground Troops are being deployed, while in the knowles is ready for the run, picking up a tax on the body, a refugee camp matrix flows. And so her early on site today and at least 6 people were killed in an overnight to tackle the house sheltering, displaced people. Now do i do popped up . I mean, you, i mean, i think we were safe in
Yesterday the s p was up more than 1 . So, kind of putting on a brave space treating good Economic News even with the headwind of whats happening. Im watching financials which were lower and in reaction to more Bank Earnings and have turned higher. I dont know if its yields. Theres a lot in there because bank of america and Goldman Sachs were better. They were better. As i was saying, when it comes to the banks, if the economy is going to be okay, the banks should probably be okay. If your biggest concern is recession, we pushed it off a little farther. And Home Builders up 0. 50 . Energy and cyclicals. Lets take a look at the state of the consumer. I spoke with bank of America Brian moynihan, and his assessment is the fed is working. Well have 4 trillion plus of our consumers moving accounts, writing a check, taking cash out, spending money with zelle, so 4 trillion plus a year. In 2021 that grew over to 2022 growth rate was 9 to 10 . In the early part of this year, 23 First Quarter o
If you want to look at what is happening in the u. S. Equities this morning, you will see green arrows dow up 25 points right now you have the nasdaq up 1 the s p is up 4 points it is a complicated month. You have most of the major averages on track for the worst. Dow down the last six of seven sessions a lot of questions about what comes next and comes from the fed. Is a recession coming . Will they land softly . It is an interesting use of the word interesting above 4 6 the inversion widened a bit. We will see what happens today crude Oil Prices Surging to the highest level in over a year we are talking above 93 brent at 96 a barrel. All of these questions mean what does it mean for inflation with energy picking up . The crude is off the highs of the session. Above 95 here. Not brent. It is a tricky time. Do you think it is always tricky. Sometimes we feel calm about things i would say investors have more sense of unease lately that is why you have the pullback in the major averages
Jay powell in washington d. C. Sustained. We have to take those that macroeconomic effects into account as well. Those are some of my im not sure if i hit them all, but i ultimately, you know, youre coming into this with an economy that appears to have significant momentum,thats what we start with. But we do have this collection of risks that you mentioned. [inaudible] reporter craig torres from bloomberg news. I was a little surprised, chair powell, to hear you say that a soft landing is not a primary objective. This economy seeing added supply in a weight that could create longterm inflation stability. We have people adding skills, workers want to work, we have a boom in manufacturing construction. Weve had a decent spate of home building, and since inflations coming down with strong gdp growth, we may have higher productivity. All are good for the feds longerrun target of low inflation. And if we lose that in a recession, arent we opting for the awful history that we had in 2010 . S
terms of this relationship between the two beyond the orange, where it warned ukraine i think that s the big one. is china going to step forward and provide weapons to russia? which is something that the been administration has warned about . but you know, china has been reluctant to do that. and i think what we re seeing is that , although before the war, china and russia proclaimed this limitless friendship, there are actually sharp limits on their partnership, and you didn t see them talking about limitless partnership. during xi s visit to moscow. in fact, it s a very limited partnership where they both want to triangulate against the united states. they see them what the us has their common enemy, but they also have a lot of divisions, and one of the big ones is that china is economically dependent on trade . it s the largest trading nation in the world, and it needs to trade with the united states it needs to trade with europe. it does not want to become as isolated as sanctioned