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Mar 14, 2024
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annmarie: jay powell continue says at some point this year we will be cutting. does that change to later this year? does the timeline just get pushed back? jay: i think it does. the inflation rate is trending lower. it is not coming down as much as people would like it to be but what is happening is the inflation rate continues to come down in the fed remaining on hold, the real fed funds rate is passively going higher and that is acting as a passive tightening on the overall economy. in some sense they need to be cutting rates. maybe not in may or june or july, but they need to be cutting rates later this year or you will have a passive tightening of monetary policy which could potentially slow things a lot more than people are expecting now. jonathan: appreciate your views this morning. jay bryson of wells fargo. it is part of the job if you're in that seat. you have to make a call on when the fed will cut. june feels meaningless to me. the correct answer has been later. much later than you thought. it was march and then it was may and then it was june. if you
annmarie: jay powell continue says at some point this year we will be cutting. does that change to later this year? does the timeline just get pushed back? jay: i think it does. the inflation rate is trending lower. it is not coming down as much as people would like it to be but what is happening is the inflation rate continues to come down in the fed remaining on hold, the real fed funds rate is passively going higher and that is acting as a passive tightening on the overall economy. in some...
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senator markwayne mullin joining us a break markets on move ahead of jay powell's two-day testimony before house financial services committee and senate banking committee kicks off tomorrow, pete najarian is here with his thoughts on the humphrey-hawkins testimony you are watching "mornings with maria" live on fox business. . . before you use ai to transform business, accelerate growth, predict trends, you need to begin with trust. introducing watsonx governance. helping you govern any ai, as data, models, and policies change, so you can scale it responsibly. let's create ai that begins with trust, with watsonx governance. ibm. let's create. when i was your age, we never had anything like this. what? wifi? wifi that works all over the house, even the basement. the basement. so i can finally throw that party... and invite shannon barnes. dream do come true. xfinity gives you reliable wifi with wall-to-wall coverage on all your devices, even when everyone is online. maybe we'll even get married one day. i wonder what i will be doing? probably still living here with mom and dad. fast reliable
senator markwayne mullin joining us a break markets on move ahead of jay powell's two-day testimony before house financial services committee and senate banking committee kicks off tomorrow, pete najarian is here with his thoughts on the humphrey-hawkins testimony you are watching "mornings with maria" live on fox business. . . before you use ai to transform business, accelerate growth, predict trends, you need to begin with trust. introducing watsonx governance. helping you govern...
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Mar 4, 2024
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. >> now fed chair jay powell will give the view from the top this week after congressional testimony on mondayetary policy kicking on wednesday. >>> let's how things are going this morning after the friday session which was the second session for the stoxx 600 moving higher. we are finding gains, but they are marginal. it is about how that will last throughout the day and find impetus throughout the rest of the day as well. the tech counters have been pushing things along out of the united states. so is the ppi and cpi as we move to the questions of inflation and rates in europe and the jobs data out of the united states with the nfp and adp and jolts moving the needle across the week. for now, you are seeing marginal gains for the european markets. here is how things are faring overall for the european market picture. we are seeing mixed trading as i have been noting at .25% weaker for the ftse 100 from the uk. just last week, actually, that gained .23%. that was the second positive session on the week. on the week, closing down .30%. that was out of step with the rest of the market
. >> now fed chair jay powell will give the view from the top this week after congressional testimony on mondayetary policy kicking on wednesday. >>> let's how things are going this morning after the friday session which was the second session for the stoxx 600 moving higher. we are finding gains, but they are marginal. it is about how that will last throughout the day and find impetus throughout the rest of the day as well. the tech counters have been pushing things along out of...
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Mar 18, 2024
03/24
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what we are going to hear from jay powell signaling around rate cuts. . we are seeing changing expectations. june had been seen most likely until a couple days ago. that is getting priced out as are the number of cuts we can expect for 2024. in the intraday session, it was the focus on tech. we mentioned the news around alphabet with the iphone in the headlights. what i am tracking closely today is nvidia. so much of the rally has been predicated on the success of nvidia. the demand for its ai chip. now the successor to that coming out at the successor event. we will have more on that ahead this out. haidi: let's go back to the highly anticipated boj decision in the next few hours. stephen engle is with us live outside the central bank building in tokyo. this is a potentially monumental day for the bank of japan. >> absolutely. have been at bloomberg 20 plus years and this is probably the most significant change at the boj in one fell swoop in those 20 years. we have had inflation persistent and we are seeing a lift off perhaps of rates later today when t
what we are going to hear from jay powell signaling around rate cuts. . we are seeing changing expectations. june had been seen most likely until a couple days ago. that is getting priced out as are the number of cuts we can expect for 2024. in the intraday session, it was the focus on tech. we mentioned the news around alphabet with the iphone in the headlights. what i am tracking closely today is nvidia. so much of the rally has been predicated on the success of nvidia. the demand for its ai...
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Mar 7, 2024
03/24
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jay powell saying we will make a lot of changes to this after a lot of lobbying. jonathan: day one was in front of the house financial services committee. date two was in front of the senate committee. the senator from massachusetts, elizabeth warren, i imagine elizabeth warren has follow-up questions about yesterday. lisa: i imagine she will not be particularly happy when people are looking for the potential of too big to fail. jp morgan surging when we still see this turmoil in community bank ongoing. has it become unduly punitive for these banks and how you create a scenario where there is not a gravitational force every which way at a time the smaller banks are facing a host of headwinds different from the big ones. jonathan: all-time high for jp morgan monday. record tuesday, record wednesday. nycb. new york community bank come at the lows down 47%. at the high we were up 37%. we were facing existential risk. we have a new ceo. this time we have received an equity investment from former treasury secretary steve mnuchin. lisa: this is amazing. the fluctuations
jay powell saying we will make a lot of changes to this after a lot of lobbying. jonathan: day one was in front of the house financial services committee. date two was in front of the senate committee. the senator from massachusetts, elizabeth warren, i imagine elizabeth warren has follow-up questions about yesterday. lisa: i imagine she will not be particularly happy when people are looking for the potential of too big to fail. jp morgan surging when we still see this turmoil in community bank...
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Mar 7, 2024
03/24
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haidi: a little optimism despite renewed focus on fed speak from fed chair jay powell. the outlook when it comes to some of these five flyers in the market as well. technology, a little question over how big the valuations can really continue going to improve from here. this is s&p futures. there's a little weakness there after the rally in the previous session. about .1% lower for the s&p rate. nasdaq futures off .3%. there are broadly positive signs from central banks. perhaps unsurprisingly we are seeing a bit of caution ahead of key jobs data. another data point in their journey to identifying a more certain path forward for the fed. crude in particular as well in this session, we saw a rally in oil continuing to pick up pace. a segment of the keystone pipeline shutting down. paul: two major central banks delivering fresh signals interest rate cuts are on the way. fed chair jerome powell telling the u.s. senate banking committee that policymakers are getting closer to the confidence they need to start easing. >> we are in the right place. we are waiting to become mo
haidi: a little optimism despite renewed focus on fed speak from fed chair jay powell. the outlook when it comes to some of these five flyers in the market as well. technology, a little question over how big the valuations can really continue going to improve from here. this is s&p futures. there's a little weakness there after the rally in the previous session. about .1% lower for the s&p rate. nasdaq futures off .3%. there are broadly positive signs from central banks. perhaps...
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thank you for being here what are your expectations for jay powell this morning. >> i think he will come out a little bit more hawkish than he did in his last testimony he talked about three rate cuts in 2024 and i'm old enough to remember when we were at six or seven rate cuts for 2024 which was a few months ago but now were looking at rate cuts and originally going to start marching moved to june, it's likely there could be a one and done and no rate cuts because of inflation, the last 1% to get to target is going to be very tough and there is a risk that inflation could really accelerate. we may not see rate cuts for some time and i think he will allude to that that they will be very cautious in the first cut and rates. maria: was that the issue for markets yesterday it was a broad-based selloff now industrials down better than 400 points and aspect into it at 67, dragged down by three tech stocks which are getting hammered apple down after report revealed the iphone sales in china plunged 24% for six weeks of the year tesla was down and also with china the shutdown of the berlin fact
thank you for being here what are your expectations for jay powell this morning. >> i think he will come out a little bit more hawkish than he did in his last testimony he talked about three rate cuts in 2024 and i'm old enough to remember when we were at six or seven rate cuts for 2024 which was a few months ago but now were looking at rate cuts and originally going to start marching moved to june, it's likely there could be a one and done and no rate cuts because of inflation, the last...
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Mar 21, 2024
03/24
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jay powell & co. sticking to three cuts for the year despite a string of hotter than expected inflation prince. some all caps posting with gold running about 2200 for the first time ever. chris, let's get to it. gold, what is that break off in gold all about going through 2200 for the first time ever? >> when you look back at the sequence of events the last several weeks let's first go back to january february where you had the decisive move in gold through 2100 and we found really notable these last two weeks as bond yields pushback higher and they go from four to about 435. gold did not flinch. it was a very orderly pause, the title is gold new. gold knew we would be getting a dovish fed yesterday. i think certainly the response speaks to that here. i think the backdrop remains polish in metals, bullish and materials and we see that with the expansion of new highs in things like copper, the material stocks. etc.. >> watch what they do and not what they say. when you look at what they are doing. is t
jay powell & co. sticking to three cuts for the year despite a string of hotter than expected inflation prince. some all caps posting with gold running about 2200 for the first time ever. chris, let's get to it. gold, what is that break off in gold all about going through 2200 for the first time ever? >> when you look back at the sequence of events the last several weeks let's first go back to january february where you had the decisive move in gold through 2100 and we found really...
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Mar 20, 2024
03/24
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the star of the show, fed chair jay powell plays himself. the great thing about these powell performances they're like war schalk tests you can read anything into them you want. wall street spends untold sums hiring analysts to interpret mr. powell. investors are baffled by all of this commentary. after today's performance stocks went up 400 points or so so somebody's happy out there. now are they happen because the fed leaned against the win and suggested no easier money? that mr. powell is going to hold the line with his 2% inflation target? or that the fed is not going to start slashing rates in order to juice the economy, to reelect joe biden? i don't know what the reason is. others might say the fed economic projections still show three interest rate cuts this year, even though these economic projections are nearly always wrong. i think the best thing powell said he will keep his 2% inflation target and not raise it to 3% and in fact the fed's not there yet. here's some price level indicators that we all should keep an eye on including
the star of the show, fed chair jay powell plays himself. the great thing about these powell performances they're like war schalk tests you can read anything into them you want. wall street spends untold sums hiring analysts to interpret mr. powell. investors are baffled by all of this commentary. after today's performance stocks went up 400 points or so so somebody's happy out there. now are they happen because the fed leaned against the win and suggested no easier money? that mr. powell is...
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more likely, it's connected to comments from jay powell. he says he will scale back on rates later this year, but he's not saying exactly when. there's maybe some dip buying as a well. dow's up 200. this is premarket. s&p, 31. and the nasdaq, nice gain, 166. plenty of green this morning. lots of red yesterday. interest rates continue to drift lower. look at that, the yield on the 10-year treasury is 4.12, and the yield on the 2-year is just above 4.5%, 4.53 right now. bitcoin molding on to its gapes -- holding on to the its gains, 66 and change for bitcoin right now. the record high is $69,202. there you go. maybe we'll get there soon. gold close to its all-time high, it is well over $2100 an ounce, 2146 to be precise is. gas keeps on creeping up ever so gradually. $3.38 for regular now, up 2 cents overnight. diesel, to change, $4.05. >>> on the show today, elon musk visits donald trump. the speculation is that trump needs cash quickly to pay his $3 55 fine plus interest. the president looked shaky. he asked permission to stay at a his own
more likely, it's connected to comments from jay powell. he says he will scale back on rates later this year, but he's not saying exactly when. there's maybe some dip buying as a well. dow's up 200. this is premarket. s&p, 31. and the nasdaq, nice gain, 166. plenty of green this morning. lots of red yesterday. interest rates continue to drift lower. look at that, the yield on the 10-year treasury is 4.12, and the yield on the 2-year is just above 4.5%, 4.53 right now. bitcoin molding on to...
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charles: before i let you go, jay powell confident about a soft landing although we know there will not be six rate cuts. is this a good thing? i know you talked about in december these rate cuts being good for small caps so on that notion, small caps are making a stealth rally, should you wait for the cuts to happen or should we start nibbling there? >> small caps are totally tied to the economy. so your bet has to be the fed is going to cut rates and we're not going to have a significant slow down in the economy, right? small cap, mid-cap stocks are very sensitive to changes in economic demand. so the hope here is, that you know, for the russell 2000 to continue that rally, that, you have to have fairly strong economic growth continue. if you do, that really doesn't auger for a lot of rate cuts for the fed because of the inflationary pressure. i think this will be a real balancing act for the fed and i would be a little bit cautious. i wouldn't overweight small cap here. it is okay to be in it. i wouldn't overweight it here because of that risk. charles: i got you. lance, good stuff a
charles: before i let you go, jay powell confident about a soft landing although we know there will not be six rate cuts. is this a good thing? i know you talked about in december these rate cuts being good for small caps so on that notion, small caps are making a stealth rally, should you wait for the cuts to happen or should we start nibbling there? >> small caps are totally tied to the economy. so your bet has to be the fed is going to cut rates and we're not going to have a...
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Mar 7, 2024
03/24
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one of the things that fed chair jay powell told congress over the last couple of days, specifically today, is that the u.s. is fairing better than just about every other advanced economy in the world out there. and one of those is china, which is the second biggest economy in the world. there's no doubt, if you look at the data, they can sugar coat it all they want, but china is nowhere near as good as the u.s. you've been critical of china. do you think that chinese story has played out enough to the downside versus what we're seeing here in the u.s.? >> yeah, i don't think so. i think investing in communism long-term has never worked. let's just go back and look at msci china's index. in the last 30 years, if you invested in the china index, you're at break even. you haven't made a penny. think about that. in the last 15 years, china's economy has grown, reportedly, 500% gdp, and if you invested in the shanghai index 15 years ago, you've lost a third of your money. imagine investing in an economy that's grown 500% and losing a third of your money. i mean, it doesn't matter if it's
one of the things that fed chair jay powell told congress over the last couple of days, specifically today, is that the u.s. is fairing better than just about every other advanced economy in the world out there. and one of those is china, which is the second biggest economy in the world. there's no doubt, if you look at the data, they can sugar coat it all they want, but china is nowhere near as good as the u.s. you've been critical of china. do you think that chinese story has played out...
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Mar 12, 2024
03/24
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charles: of course coming into all of this, jay powell vowed he would not be arthur burns. he would be volcker 2.0. if he cuts too early, and mess this is up, forget it. one thing you've been emphasizing, you say, hey, forget about these overweight bets on themes. instead focus, drill down on value. one name you like is deere. you say it is best in class. you like it because of the cycle we're in and also strong fundamentals. tell us more. >> this is a really cyclical company and we're entering a low point in that cycle and if you extract the graph back on deere even further you will see it tends to outperform the s&p 500 over long periods of time. we like the low point of the cycle. we like the bad sentiment around deere today for an entry point into a name we believe is kind of entering that next leg. what i mean by that next leg, they have done really interesting work. the management team are visionaries and when you think about even the application of robotics they have ready and available for weed killing, and look at the investment they made into starlink, that change
charles: of course coming into all of this, jay powell vowed he would not be arthur burns. he would be volcker 2.0. if he cuts too early, and mess this is up, forget it. one thing you've been emphasizing, you say, hey, forget about these overweight bets on themes. instead focus, drill down on value. one name you like is deere. you say it is best in class. you like it because of the cycle we're in and also strong fundamentals. tell us more. >> this is a really cyclical company and we're...
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Mar 18, 2024
03/24
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jay powell said i will not be arthur burns. i which not cut prematurely. >> yes. charles: therefore the insinuation i would rather stay high for too long than to cut prematurely. >> even if they cut-rates three times for sole of 75 basis points, as their dot plot suggests interest rates will be at 17-year high. interest rates will be higher for longer. hopefully not as high as they are. that will push a overleveraged u.s. consumer into default situations. that will slow down the economy further and we start talking about recessions. >> still given their druthers, two equal sets of risk, cutting too soon, remaining too high, they will stick with remaining too high. >> until at least july. they have to see two consecutive quarters of slowdown before getting interest rates. i still think we will get three interest rate cuts this year. charles: we look at some of your investment ideas. everyone is kind of familiar with microsoft. lily is big time with the weight-loss drug. what is rythym. >> this is the another area to play the obesity drug euphoria. $2.4 billion micr
jay powell said i will not be arthur burns. i which not cut prematurely. >> yes. charles: therefore the insinuation i would rather stay high for too long than to cut prematurely. >> even if they cut-rates three times for sole of 75 basis points, as their dot plot suggests interest rates will be at 17-year high. interest rates will be higher for longer. hopefully not as high as they are. that will push a overleveraged u.s. consumer into default situations. that will slow down the...
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Mar 20, 2024
03/24
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what advice are you giving to jay powell. >> i don't have a direct lane to jay powell so i don't want to fake that, but i have a chance to speak with folks and provide and the fed out of chicago, and i thi we need stability at this point in time. we have not seen the net effects of the costs running through the system, meaning, understain wan to small busines have to pay a higher interest rate cost. so, my advice would be calm and steady i think will win the race made we shouldn't take for granted that race won't move, but now is the time to allow individuals to figure out, how do you build that of resiliency across your balance sheet so if we run into more turbulence at some point this timeii you're capable of dealin with that. >> any advice for jay powell or input for the fed? >> i'm no person t give jay powell advice, but calm and steady. we're leaders of the financial system. let's never forget we're a factional banking system. if any one of us suffers the run that sb had, we' not to be. and we have substance and from 1 c standpoint, from a liquidity standpoint. it is relates to t
what advice are you giving to jay powell. >> i don't have a direct lane to jay powell so i don't want to fake that, but i have a chance to speak with folks and provide and the fed out of chicago, and i thi we need stability at this point in time. we have not seen the net effects of the costs running through the system, meaning, understain wan to small busines have to pay a higher interest rate cost. so, my advice would be calm and steady i think will win the race made we shouldn't take...
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Mar 15, 2024
03/24
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from jay powell to goldman sachs. a mixedsis and which key player is bullish on the year ahead? it is friday, march 15th, 2024. you are watching "worldwide exchange" here on cnbc. >>> welcome back to "worldwide exchange." i'm dominic chu in for holfrank hol holland. the dow stamping the three-day winning streak yesterday and right now the dow is implied higher by 34. s&p by 6 and the nasdaq higher by one point right now. we are preparing to wrap up the trading week and all three are holding on to thin gains right now. all up .50% to .1%. bitcoin prices are testing new highs this week, but pulling back with the levels at $67,091. that is down 3.25%. one stock weighing on sentiment is adobe. the weaker forecast is overshadowing an otherwise strong quarter as investments in artificial intelligence continue to payoff. the ceo praised the adobe advances in a.i. just on cnbc yesterday. >> i think the research that exis exists is incredible. not just openai, but adobeas well. i look at the text-to-video in what it relates with the models and embedding that with premium pro. >> it is ou
from jay powell to goldman sachs. a mixedsis and which key player is bullish on the year ahead? it is friday, march 15th, 2024. you are watching "worldwide exchange" here on cnbc. >>> welcome back to "worldwide exchange." i'm dominic chu in for holfrank hol holland. the dow stamping the three-day winning streak yesterday and right now the dow is implied higher by 34. s&p by 6 and the nasdaq higher by one point right now. we are preparing to wrap up the trading...
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Mar 20, 2024
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>> can't avoid watching for the fed, what the fed does what jay powell says. watching from a high perch. yesterday 18th s&p 500 knew all-time high of this calendar year. that's basically a record pace of all-time highs. go back decades. the most record high s&p done in a calendar year around 72. we got 18 and about a quarter. that basically annualized to just about best ever. can't obviously counter on us continuing to click thus way. i point out we've flattened outalities in the s&p the last weeks. churn underneath the surface. much of technology has actually sort of lost a little bit of momentum, but enough things are working we are clicking higher. you minced the bond market. i like to look at government bonds in price terms getting a sense where buyers might want to come in, where they have in the past. this is the government, u.s. treasury etf of all maturities average maturity nets out to about seven, eight years. you see a line. basically aside tr that liquidation we had back in the late summer and the fall when ten year went to 5% people worried about
>> can't avoid watching for the fed, what the fed does what jay powell says. watching from a high perch. yesterday 18th s&p 500 knew all-time high of this calendar year. that's basically a record pace of all-time highs. go back decades. the most record high s&p done in a calendar year around 72. we got 18 and about a quarter. that basically annualized to just about best ever. can't obviously counter on us continuing to click thus way. i point out we've flattened outalities in the...
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Mar 18, 2024
03/24
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powell famously looks at core services, throwing out commodities and goods and housing, that is his definition of inflation signal that is only looking at 35% of the basket. i am looking at twice that stripping out the stuff the lagy stuff trying to improve signal to noise ratio in measurement of inflation the important part. maria: things americans care about, are faced with everyday price of food go to the grocery store sticker shock the price of you know -- >> also exactly things the confessed can't do anything about, what is it that you think the fed can do to lower gasoline prices cause a depression, 20% interest rate that would be get a serve up consumers we are worried about. maria: i understand what you are saying so you are expecting the fed to cut rates beginning when don? >> so at this point i am kind of where market is at i think probably july. but, you know, i don't think any kind of inflation plrj i don't think fed sm raise rates but i will tell you for sure, every fed spokesman constantly saying how tight the fed policy is this isn't dots, there is a longer term that
powell famously looks at core services, throwing out commodities and goods and housing, that is his definition of inflation signal that is only looking at 35% of the basket. i am looking at twice that stripping out the stuff the lagy stuff trying to improve signal to noise ratio in measurement of inflation the important part. maria: things americans care about, are faced with everyday price of food go to the grocery store sticker shock the price of you know -- >> also exactly things the...
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Mar 22, 2024
03/24
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why is that meaningful after jay powell say he is not as concerned about inflation? >> i do think they are over-optimistic when we look at the setup of where we are historically. you see a second wave of inflation with a late cycle the phenomena with tight inflation and tight commodities. when you have those two setups and on top of the fuel on the fire with the fiscal spending and we are looking at the tight commodities. that's why i'm looking at the ppi. we see metals and energy and cocoa. we need to start paying attention to the signs that the economics are really telling us and the fmoc is trying to be optimistic and reassure about the three cuts and as we go down the road and when we come to september, they will have to start changing their tune. >> you know, you are not the only person worried about re reinflation. blackrock was on yesterday and was focused on that. >> the fed interest rate tool does not impact the heavy levels. healthcare cost and education cost and insurance. there is a dynamic in part why the fed is right to say the last mile is hard. bringi
why is that meaningful after jay powell say he is not as concerned about inflation? >> i do think they are over-optimistic when we look at the setup of where we are historically. you see a second wave of inflation with a late cycle the phenomena with tight inflation and tight commodities. when you have those two setups and on top of the fuel on the fire with the fiscal spending and we are looking at the tight commodities. that's why i'm looking at the ppi. we see metals and energy and...
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Mar 4, 2024
03/24
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traders await jay powell's congressional testimony and the u.s. jobs report. elon musk using the world's richest person crown to jeff bezos as tesla slumps. paul: also ahead, -- haidi: also ahead, the supreme court puts an end to attempts to keep donald trump off state ballots. >> i'm stephen engle in snowy beijing for the opening of the national people's congress. an openin -- a warning not to invest in china underscores the leaders. haidi: we have breaking news to kick off the hour. south korea gdp numbers coming through on the bloomberg. we are seeing when it comes to the revised fourth quarter number, the preliminary number when it comes to seasonally adjusted quarter on quarter coming in line with expectations. 6/10 of 1% higher. the year on year number in line with expectations. the annual gdp for 2023 at 1.4 percent. all of those readings are in line with expectations. we did see the preliminary numbers showing the same when it comes to the readings. we have seen relative resilience when it comes to things like exports driven by chipmakers in south kore
traders await jay powell's congressional testimony and the u.s. jobs report. elon musk using the world's richest person crown to jeff bezos as tesla slumps. paul: also ahead, -- haidi: also ahead, the supreme court puts an end to attempts to keep donald trump off state ballots. >> i'm stephen engle in snowy beijing for the opening of the national people's congress. an openin -- a warning not to invest in china underscores the leaders. haidi: we have breaking news to kick off the hour....
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Mar 8, 2024
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averill: we have dovish signals from the ecb and from jay powell but on the boj, the message seems to be different. policymakers and the wage growth data we got in the week causing traders to brace for a move from the japanese central bank in two weeks. we see the yen gaining to at least a strongest level since the start of february. if you are wondering where we go from there on the yen, traders seem to think that they are on the downside. one month risk reversals, that rate showing us that. let's flip the board and take a look because there are implications on this yen rally. that is putting pressure on japanese stocks. nikkei raising gains of 1% from early on in the session. if you look at one of the gauges, the nikkei is the most sensitive to the yen move since 2022. flip the board again, i want to take you to what we see in the rest of asia as we talk about them clearing the uncertainties for markets, boosted risk appetite. msci hitting the highest level since 2022, the chipmakers surging to a record high ahead of february sales data. keeping a close watch on china amid the bond
averill: we have dovish signals from the ecb and from jay powell but on the boj, the message seems to be different. policymakers and the wage growth data we got in the week causing traders to brace for a move from the japanese central bank in two weeks. we see the yen gaining to at least a strongest level since the start of february. if you are wondering where we go from there on the yen, traders seem to think that they are on the downside. one month risk reversals, that rate showing us that....
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Mar 19, 2024
03/24
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>> i'm person to give jay powell advice, but calm and steady. we're leaders of the financial system. let's never forget we're bankin if any one of us suffers the run that s had, we're not to be. and we have substance and from a capital standpoint, from a liquidity standpoint. it is relates to the federal reserve, i believe there's too much transparency, i think they make a mistake and give their thoughts where rates are going to go. and they go out there, this is where we think rates are going to go, but, an important but, we're data dependent. none of us can future and jay powell can't predict the future. why set expectation where rates are going to go when we don't have data. i think it's one of the things that's gotten us in trouble and the markets to get frothy in some respects and some were baking in five to seven cuts, and i shook my head. inflation is well above the 2% target and how and people look at the doc thoughts and that's where it needs to be. and i think the pendulum may have swung too far in terms ofy themselves into a box. >> i
>> i'm person to give jay powell advice, but calm and steady. we're leaders of the financial system. let's never forget we're bankin if any one of us suffers the run that s had, we're not to be. and we have substance and from a capital standpoint, from a liquidity standpoint. it is relates to the federal reserve, i believe there's too much transparency, i think they make a mistake and give their thoughts where rates are going to go. and they go out there, this is where we think rates are...
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Mar 12, 2024
03/24
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fed chair jay powell mentioned we are not too far from that confidence and we are expecting to see that disinflation trend resuming in the coming months. and that should lead to the fed easing monetary policy. it is not going to be a fast process. you are going to proceed very carefully. but we expect to see rate cuts this year as inflation continues to come down. and the fed really wants to balance the risk of keeping interest rates too high for too long and risking some damage to the economy and potentially a deeper economic slowdown. or a recession. haidi: the jobs numbers on friday was also quite perplexing for the market. we saw that pretty immediate reaction. i wonder how you are seeing this being conveyed through the strength of the u.s. consumer? are there any concerns at this point? lydia: yeah, the labor market showed continued resilience. i think the february report came as sending some reassuring signal. payrolls remain quite solid. but on these -- but at the same time we saw softening beneath the headline print. we get more rebalancing and further easing in wage growth. we
fed chair jay powell mentioned we are not too far from that confidence and we are expecting to see that disinflation trend resuming in the coming months. and that should lead to the fed easing monetary policy. it is not going to be a fast process. you are going to proceed very carefully. but we expect to see rate cuts this year as inflation continues to come down. and the fed really wants to balance the risk of keeping interest rates too high for too long and risking some damage to the economy...
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Mar 21, 2024
03/24
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. >> that's why jay powell had to look to the >> rate yesterday in the jolts -- the quits rate in the jolts to to yesterday to find weakness in the labor market. >> how do you find data that we are sufficiently restrictive? quits apparently. stephanie roth join us. michael mckee will bring the data. from new york city, this is bloomberg. ♪ ameritrade is now part of schwab. bringing you an elevated experience, tailor-made for trader minds. go deeper with thinkorswim: our award-wining trading platforms. unlock support from the schwab trade desk, our team of passionate traders who live and breathe trading. and sharpen your skills with an immersive online education crafted just for traders. all so you can trade brilliantly. ♪♪ hello, mia. are you ready to meet your demise? man, we really need to upgrade your trash talk. ♪♪ nice shot... shot... taker. who programmed you?! i'll see you tomorrow. the future isn't scary, not investing in it is. 100 innovative companies, one etf. before investing, carefully read and consider fund investment objectives, risks, charges expenses and mor
. >> that's why jay powell had to look to the >> rate yesterday in the jolts -- the quits rate in the jolts to to yesterday to find weakness in the labor market. >> how do you find data that we are sufficiently restrictive? quits apparently. stephanie roth join us. michael mckee will bring the data. from new york city, this is bloomberg. ♪ ameritrade is now part of schwab. bringing you an elevated experience, tailor-made for trader minds. go deeper with thinkorswim: our...
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powell testified before the house financial services committee un-aware at the moment of the stomach churning drop in the stock and bank may be fayettevilles a problem more anticipated and shutting down the emergency program and implemented a year ago as silicon valley bank collapsed taking down other regional bank withs it. ensuringly kidty if the bank -- insursuringly quitty and gold ad bitcoin at the moment in gustable slightly all time high and it made yesterday and up about 6% at the moment to $67,000 and gold recently hit an all time high as well and we got it here. let's fix that chart for you. we do have the yellow medal up about $10 to $2,152 a troy ounce. bitcoin billionaire mike and bing capital cochair steve here to assess all the breaking news and first wall street journal top fed journal and what bizarre timing that jay powell was before the house financial services committee had no idea what was happening with new york community bank stock and what do you think he learned and what would he have done with right after he finished testimony in q2? >> new york community ba
powell testified before the house financial services committee un-aware at the moment of the stomach churning drop in the stock and bank may be fayettevilles a problem more anticipated and shutting down the emergency program and implemented a year ago as silicon valley bank collapsed taking down other regional bank withs it. ensuringly kidty if the bank -- insursuringly quitty and gold ad bitcoin at the moment in gustable slightly all time high and it made yesterday and up about 6% at the...
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Mar 20, 2024
03/24
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we expect jay powell to speak at 2:30 p.m. eastern. one portfolio manager said traders are expecting high rates but the real economies does not. jim juror jordan is here at 8:. eastern. don't miss that. you're watching "mornings with maria" live on fox business. ♪ everyone say, “space pod.” cheese. [door creaks open] [ominous music] (♪) [ding] meanwhile, at a vrbo... when other vacation rentals are just for likes, try one you'll actually like. before you use ai to transform business, accelerate growth, predict trends, you need to begin with trust. introducing watsonx governance. helping you govern any ai, as data, models, and policies change, so you can scale it responsibly. let's create ai that begins with trust, with watsonx governance. ibm. let's create. your record label is taking off. but so is your sound engineer. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire maria: welcome back. time for the word on wall stre
we expect jay powell to speak at 2:30 p.m. eastern. one portfolio manager said traders are expecting high rates but the real economies does not. jim juror jordan is here at 8:. eastern. don't miss that. you're watching "mornings with maria" live on fox business. ♪ everyone say, “space pod.” cheese. [door creaks open] [ominous music] (♪) [ding] meanwhile, at a vrbo... when other vacation rentals are just for likes, try one you'll actually like. before you use ai to transform...
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Mar 21, 2024
03/24
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you had the recession fears baked into the market and the fed and the jay powell press conference on the side of putting the rate cuts coming through. >> we will use flash this morning with the stoxx 600 with the fresh record high. we had highs on the dax in recent days. what we are seeing is the concentration of bets in technology and not just in the united states, but breadth coming from japan to the european markets. does that continue? do you think there is more momentum in the european sn markets? >> absolutely. a lot of the market gains we had so far have been led by the big stocks in europe and the united states. the valuations of the smaller stocks in the markets are not the challenging. the earnings is not challenging for the stocks out of the earnings recession. that should be supportive for the stocks. we have seen that this morning. >> can we dig into the weeds? record highs at the moment. a lot of val tue traps out ther with the auto sector. you are a top fund manager. what are you doing next? >> what we would suggest is stay inv invested. a lot of cash on the sidelines
you had the recession fears baked into the market and the fed and the jay powell press conference on the side of putting the rate cuts coming through. >> we will use flash this morning with the stoxx 600 with the fresh record high. we had highs on the dax in recent days. what we are seeing is the concentration of bets in technology and not just in the united states, but breadth coming from japan to the european markets. does that continue? do you think there is more momentum in the...
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Mar 15, 2024
03/24
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we want to look at what jay powell may say in that guidance, inflation data of course, giving the fed more reasons to delay rate cuts until later this year. we'll get into it with the word on wall street panel and their expectations. don't miss it. you're watching "mornings with maria" live on fox business. we'll be right back. ♪ straight up now tell me do you really want to love me forever. ♪ or am i caught in a hit and run. ♪ straight up now tell me is it gonna be you and me together. ♪ or are you just having fun to get lost in investment research. get help with j.p morgan personal advisors. hey, david! ready to get started? work with advisors who create a plan with you, and help you find the right investments. so great getting to know you, let's take a look at your new investment plan. ok, great! this should have you moving in the right direction. thanks jen. get ongoing advice; and manage your investments in the chase mobile app. (vo) explore the world the viking way from the quiet comfort of elegant small ships with no children and no casinos. we actually have reinvented
we want to look at what jay powell may say in that guidance, inflation data of course, giving the fed more reasons to delay rate cuts until later this year. we'll get into it with the word on wall street panel and their expectations. don't miss it. you're watching "mornings with maria" live on fox business. we'll be right back. ♪ straight up now tell me do you really want to love me forever. ♪ or am i caught in a hit and run. ♪ straight up now tell me is it gonna be you and me...
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Mar 15, 2024
03/24
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. >> larry: jay powell says it has gone up 6.9% annual rate and wholesale producer prices, 3.3%, finished goods, 6.4, intermediate goods, 4. so in other words, inflation story is the wrong way again. so, if you are talking about going from 2 to 3, wait a second. you never hit 2. so you'll go to 4, and then you'll go to 5, so it's very -- what they want is election fed goosing of the economy and jay powell makes a gigantic mistake if he gets into the crossfire. >> sandra: i know austin goldsby and you go way back. >> larry: and when he's being straight, he's one of the best economists around. >> sandra: the federal reserve chair from chicago, he joined us on friday and a bit from the panel with steve moore and robert wolf. >> target is 2% and it should be. the fed said they would get inflation to 2% and so we got to get inflation down to 2%. >> i don't think we should surrender on the 2%, i think surrendering -- >> target is too low. >> sandra: and austin on, from the federal reserve in chicago, sticking with the 2% target. >> one of my best friends, i disagree with him on it. >> sandra: n
. >> larry: jay powell says it has gone up 6.9% annual rate and wholesale producer prices, 3.3%, finished goods, 6.4, intermediate goods, 4. so in other words, inflation story is the wrong way again. so, if you are talking about going from 2 to 3, wait a second. you never hit 2. so you'll go to 4, and then you'll go to 5, so it's very -- what they want is election fed goosing of the economy and jay powell makes a gigantic mistake if he gets into the crossfire. >> sandra: i know...
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Mar 21, 2024
03/24
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secretly jay powell will not cut-rates this year anyway before the election. on the other hand, nick petraeus of "wall street journal" who covers the beat very smart guy, how the fed was dovish. i was reading the term dovish from a lot of people. i don't think -- he is keeping 2% target, isn't that the where the rubber meets the road? all the lefties wanted him to go to 3%, hurry up, cut-rates, juice the economy to bail out joe biden, i don't see him doing that. >> i don't think so, i think it would be ashamed for to change the long term inflation economists. most economists you two two no more than i would, 2% in the long run is what you want it generally to be. >> they kept the long run inflation target the same and moved the long run fed funds rate. that is going to keep moving. they will keep moving that up. what they're communicating there, it takes slightly higher rates than they used to be believe to get down to 2% this is actually a hawkish message. larry: by the way i want to add on, maybe you should have put this in my riff, you wipe out gas-powered
secretly jay powell will not cut-rates this year anyway before the election. on the other hand, nick petraeus of "wall street journal" who covers the beat very smart guy, how the fed was dovish. i was reading the term dovish from a lot of people. i don't think -- he is keeping 2% target, isn't that the where the rubber meets the road? all the lefties wanted him to go to 3%, hurry up, cut-rates, juice the economy to bail out joe biden, i don't see him doing that. >> i don't think...
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Mar 28, 2024
03/24
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mike: i'm going with jay powell. jonathan: easy to go with. [laughter] mike: he said would -- we would get a .3% rise and i have no doubt in their analysis. this is of course on a year-over-year basis, which is what the fed is following. chris waller said the same thing last night and as he pointed out, the october to december average was about .03 percent, rather than 3/10 percent. so, it's 10 times higher in january and it would be the same this month. that suggests some progress has halted, if not gone the other way. jonathan: there are 54 estimates on the terminal and only five of them say anything other than 0.3%. i wonder why? and you just basically guess pc from ppi? mike: you can. inflation numbers are some of the best from economists. there might be a surprise in one or the other that push it 1/10 of one way or the other, but if you notice, there are only a certain number that say anything other than 3/10, but it is not a wide dispersion. jonathan: true. tiffany joins us now with more. let's start with the data tomorrow and then we ca
mike: i'm going with jay powell. jonathan: easy to go with. [laughter] mike: he said would -- we would get a .3% rise and i have no doubt in their analysis. this is of course on a year-over-year basis, which is what the fed is following. chris waller said the same thing last night and as he pointed out, the october to december average was about .03 percent, rather than 3/10 percent. so, it's 10 times higher in january and it would be the same this month. that suggests some progress has halted,...
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Mar 15, 2024
03/24
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jonathan: you get fed speak this coming week with a jay powell news conference wednesday afternoon. let's get to an update on stories elsewhere. >> a mas proposing what it's calling a comprehensive cease-fire deal as it tries to make progress on talks with israel. it was see the fraying of hostages including israeli women, children, the elderly and those who are ill. this is an exchange for the release of up to 1000 palestinian prisoners. the israeli prime minister says militant group is still making unrestricted -- unrealistic demands. the country's war cabinet is expected to discuss the work proposal today. shares of adobe or falling in the premarket after posting a weak sales outlet. the guidance is fueling concerns of new ai focus startups threatening its market share. the company has been integrating its proprietary ai model firefly into its top products like photoshop and illustrator. a recent demonstration by openai of its video generation model is fueling concerns about competition. bitcoin is retreating from its latest record high. there is an intensifying debate about whet
jonathan: you get fed speak this coming week with a jay powell news conference wednesday afternoon. let's get to an update on stories elsewhere. >> a mas proposing what it's calling a comprehensive cease-fire deal as it tries to make progress on talks with israel. it was see the fraying of hostages including israeli women, children, the elderly and those who are ill. this is an exchange for the release of up to 1000 palestinian prisoners. the israeli prime minister says militant group is...
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Mar 8, 2024
03/24
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yesterday jay powell addressed that threat. >> this is a problem we will be working on for years more. there will be bank failures but this is not the big banks. it is not a first-order issue for any of the large banks. it is more smaller and medium-sized banks that have these issues. sonali: will discuss the broader market with debbie cafaro with a focus on senior housing. we brought you in with your community bank with the thinking the regional banking system and the tightness you are seeing when you're thinking about the broader sector and the tightening of those lending conditions, what kind of impact is there at the end of the day? debbie: thank you for having me. we are in the health care in senior living business so we have incredible demand which is different from a lot of the commercial real estate space. there are definitely tightening financial conditions because of commercial real estate loans in the financial sector. those are concentrated in those smaller banks. the 20 and blows that hold most of that debt. we are using that as an opportunity because we are the second la
yesterday jay powell addressed that threat. >> this is a problem we will be working on for years more. there will be bank failures but this is not the big banks. it is not a first-order issue for any of the large banks. it is more smaller and medium-sized banks that have these issues. sonali: will discuss the broader market with debbie cafaro with a focus on senior housing. we brought you in with your community bank with the thinking the regional banking system and the tightness you are...
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Mar 21, 2024
03/24
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we heard from the fed and jay powell and company. we see the ten-year yield at 4.22. you see sharp movements. you can check out gold which is on a record run as well. it is over $2,200. bitcoin is coming back from yesterday's lows of around 61,000. check it out now. 67,000. joe, what he said yesterday sounded, to me, they are being patient in terms of when they raise rates. >> cut rates. >> took the idea -- >> when they are going to cut. >> yes. he said these are the highs we are looking at closely. >> now i sound like kevin morris. starting with the "so." six months ago, they said three and people said five or six. we like five or six. then, we slowly come to realize that we would kill for three and maybe we don't get any. now he says three and water happy. >> he didn't say three. the dot plots said three. >> the fed is basically saying that these hot inflation numbers that we have seen the past two months on transitory. we're back to transitory. >> yes, i would take it deeper and i'll talk to steve about this in a second. to me, he probably didn't want to switch pos
we heard from the fed and jay powell and company. we see the ten-year yield at 4.22. you see sharp movements. you can check out gold which is on a record run as well. it is over $2,200. bitcoin is coming back from yesterday's lows of around 61,000. check it out now. 67,000. joe, what he said yesterday sounded, to me, they are being patient in terms of when they raise rates. >> cut rates. >> took the idea -- >> when they are going to cut. >> yes. he said these are the...
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Mar 8, 2024
03/24
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which is why jay powell had that look on his face. lisa: everyone listening who has no idea what you are talking about. jonathan: sometimes indisposition, you have to assume a little knowledge. in this instance, they can google it. they have four minutes until the jobs numbers comes out. jobs number up next. 200,000 is the estimate. employment report just around the corner. i think he's having a midlife crisis i'm not. you got us t-mobile home internet lite. after a week of streaming they knocked us down... ...to dial up speeds. like from the 90s. great times. all i can do say is that my life is pre-- i like watching the puddles gather rain. -hey, your mom and i procreated to that song. oh, ew! i think you've said enough. why don't we just switch to xfinity like everyone else? then you would know what year it was. i know what year it is. jonathan: the payroll support 24 seconds away. equity market looks like this. all time highs going into the print. down 1% on the s&p. nasdaq, -.2%. 2-year yield down three basis points. 4.47. daniell
which is why jay powell had that look on his face. lisa: everyone listening who has no idea what you are talking about. jonathan: sometimes indisposition, you have to assume a little knowledge. in this instance, they can google it. they have four minutes until the jobs numbers comes out. jobs number up next. 200,000 is the estimate. employment report just around the corner. i think he's having a midlife crisis i'm not. you got us t-mobile home internet lite. after a week of streaming they...
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Mar 8, 2024
03/24
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a lot of this came after what we heard from jay powell. he was speaking again before congress and yesterday he said -- this is key. yardeni pointed this out. powell said we are waiting to become more confident that inflation is moving sustainably at 2%. it will be appropriate to dial back the level of restrictions. that is what the market heard. not far from it. as a result, you saw treasury yields pull back. the ten-year yield at 4.07%. the two-year yield at 4.49%. >> it is interesting because it is all based on inflation. we haven't even any definitive proof that the economy is going to fall off a cliff. maybe we can get that today. maybe he knows something. when he said we're getting closer and closer, i thought that was really interesting. i don't know how easy it will be for the last bit of inflation. the last mile of inflation. i thought he was more dovish than i thought. >> i was surprised, too. what we have been talking about is could there be a possibility of rate hikes. >> or non. >> the indication was sticky and does it pick up.
a lot of this came after what we heard from jay powell. he was speaking again before congress and yesterday he said -- this is key. yardeni pointed this out. powell said we are waiting to become more confident that inflation is moving sustainably at 2%. it will be appropriate to dial back the level of restrictions. that is what the market heard. not far from it. as a result, you saw treasury yields pull back. the ten-year yield at 4.07%. the two-year yield at 4.49%. >> it is interesting...
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jay powell will address the house tomorrow and the senate on thursday. what that could mean for potential rate cut coming up. the word on wall street panel is here to weigh in. don't miss it. you're watching "mornings with maria" live on fox business. we'll be right back. ♪ you'll be my something sweet. ♪ i'll be your strong and steady. ♪ you'll be my glass of wine. ♪ i'll be your shot of whiskey. ♪ i'll be your shot of whiskey. ♪ you'll be my sunny day. ♪ i'll be your shade tree. ♪that like your workplace benefits and retirement savings. voya helps you choose the right amounts without over or under investing across all your benefits and savings options. so you can feel confident in your financial choices. ♪ they really know how to put two and two together. voya, well planned, well invested, well protected. ♪ i have type 2 diabetes, but i manage it well ♪ ♪ jardiance! ♪ ♪ it's a little pill with a big story to tell ♪ ♪ i take once-daily jardiance ♪ ♪ at each day's start! ♪ ♪ as time went on it was easy to see ♪
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Mar 18, 2024
03/24
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no respect to jay powell. it could end up being a huge yon and we could wind up being back or we started but this rally, since october with big tech, it's been one leg it and nvidia has led the charge. i don't think we can afford a rebuff from nvidia here. the rally, broadening out a bit, but it's early days. nvidia -- jonathan: nvidia feels fundamentally driven given the numbers it has been putting up. with broadening out, how fundamentally driven is the rotation? rosa: -- ben: pretty fundamental. we have had lower s&p for two weeks, equal weight hitting the first of all time last week. euro stocks outperforming s&p. i think it's happening. it's happening because earnings either haven't been as bad as expected and the rest of the world, or the outlook is looking a little bit better the closer that we get to rate cuts. i still think that those cuts are coming. earnings have been over delivering. rate cuts have been pushed back for the right reason, so to speak, with growth better-than-expected. lisa: what woul
no respect to jay powell. it could end up being a huge yon and we could wind up being back or we started but this rally, since october with big tech, it's been one leg it and nvidia has led the charge. i don't think we can afford a rebuff from nvidia here. the rally, broadening out a bit, but it's early days. nvidia -- jonathan: nvidia feels fundamentally driven given the numbers it has been putting up. with broadening out, how fundamentally driven is the rotation? rosa: -- ben: pretty...
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Mar 18, 2024
03/24
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one, nvidia ceo and jay powell. which one has greater market moving potential? >> plus, march madness officially kicking off this week and the games have changed dramatically. now players are allowed to make money which cleared the way for ea sports to bring back an old favorite and play -- pay players for their names and likenesses. we will get that -- back to back. two straight losing week spirit had not happened since october. you can see the nasdaq is leading the way higher by about 1%. the s&p 500 not too far behind and the dow jones national average of 3/10 of a percent. ai optimism boosting tech stocks and not just in video which we have already seen. google and apple may be working together. those reports both helping those two stocks as well. >> now to the two big events that markets will watch this week. first up jensen wong, nvidia ceo delivering the keynote. that is today at 4:00 p.m. eastern. everyone wants to know what he will say about demand for aig chips and what they have in the pipeline. coming up n wednesday, jay powell, we will hear from the
one, nvidia ceo and jay powell. which one has greater market moving potential? >> plus, march madness officially kicking off this week and the games have changed dramatically. now players are allowed to make money which cleared the way for ea sports to bring back an old favorite and play -- pay players for their names and likenesses. we will get that -- back to back. two straight losing week spirit had not happened since october. you can see the nasdaq is leading the way higher by about...
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Mar 15, 2024
03/24
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what does jay powell try to do at the upcoming meeting? boy, i really think he -- if he had his druthers he would try to leave basically everything exactly where it is now. retain that optionality that the market seems to have, could be three, could be four cuts this year. he did say they're getting close, but he said, you know, we're not quite there yet. so i think he really does want to just stall a little while longer to make sure that things are not, in fact, going back up. >> is there a -- i assume there is a faction of the committee that still is not convinced that you don't have to suppress labor demand, you don't have to slow the economy more in order to be sure that inflation is heading to target. there's been a lot of talk about whether the dot plot might change as a result of some of that thinking. i guess how much might that matter if at all? >> so it's funny, i completely agree with the premise that there's a wide range of views. in fact, during the 15 years that i was at the fed, at one point i had a boss who was fond of sayi
what does jay powell try to do at the upcoming meeting? boy, i really think he -- if he had his druthers he would try to leave basically everything exactly where it is now. retain that optionality that the market seems to have, could be three, could be four cuts this year. he did say they're getting close, but he said, you know, we're not quite there yet. so i think he really does want to just stall a little while longer to make sure that things are not, in fact, going back up. >> is...
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Mar 25, 2024
03/24
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this latest verse of jay powell has a lot of folks scratching their heads. meanwhile rotation and red flags. there is a lot going on beneath the surface. we have you covered. baseball scandal, chip wars, and president biden weighing in on real estate commissions. all that is for rob luna. past is prologue, welcome back judge roy bean and tom fitton on law fair in 2024. my latest on the casualties in the scorched earth climate change agenda. all that and so much more on "making money." ♪. charles: you know the old saying, follow the money? you can also say maybe follow the targets. so last week i pointed out wall street continues to stress their targets, right? and here's the thing they have been so tepid, they have been very, very tepid. coming into the year you can see i mean the numbers are really low. the street was looking on average 4891. we blew that past a long time ago. societe generale, 5200. this is what you will start seeing now. sort of like, if things are freight, this is what happens. it is really weird, if i jump off a pier i will get wet. o
this latest verse of jay powell has a lot of folks scratching their heads. meanwhile rotation and red flags. there is a lot going on beneath the surface. we have you covered. baseball scandal, chip wars, and president biden weighing in on real estate commissions. all that is for rob luna. past is prologue, welcome back judge roy bean and tom fitton on law fair in 2024. my latest on the casualties in the scorched earth climate change agenda. all that and so much more on "making money."...
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Mar 14, 2024
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we have fed watcher danielle dimartino booth jay powell, ha he has a tougher task than 24 hours ago. before you give up the hope of the american dream folks, katrina cam pens joins me. it is harder and harder but not i am possible. all that and so much more on "making money." ♪. charles: so this morning we saw what amounts to back-to-back economic data come in exactly the opposite of what wall street expected and what investors actually hoped for. i'm talking of course the ppi number, producer price index. that is on inflation. that was hotter than consensus. there were retail sales which increased less than expected. here is really what is interesting also. it was far less than expected if you factor in the prior month's revision. i will tell you about that in a moment. like the day before when the cpi number was hotter than expected equity futures initially declined, bond yields went up, what you expect happen but then opposite direction. we're going where we are supposed to now. some say this is the kind of stuff you see during market bubbles but maybe that is an even deeper exp
we have fed watcher danielle dimartino booth jay powell, ha he has a tougher task than 24 hours ago. before you give up the hope of the american dream folks, katrina cam pens joins me. it is harder and harder but not i am possible. all that and so much more on "making money." ♪. charles: so this morning we saw what amounts to back-to-back economic data come in exactly the opposite of what wall street expected and what investors actually hoped for. i'm talking of course the ppi...
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liz: steve, jay powell is speaking tomorrow and then thursday. what are you expecting from him, and when are you expecting the first rate cut? if. >> i think what we're probably expecting from him baseline is he's going to reinforce this narrative that they can be patients continue to watch the data come in. the market's pricing that in. you know, tom and i were talking before the show just how it's shifted. we shifted from as many as a six cuts to a little over three and a half at this point. i do think the market's sort of centered on around a june, so we'll see if that plays out. but i think he's more than likely going to reinforce that message. liz: okay. guys, we gotta run. were very close to session lows, particularly with the nasdaq. the nasdaq's session low, new one, 329-point loss, we're down 324 point wees. steve, tom, always a good to see you both. thank you very much. >>> you know, it it may seem anti-green, one major industrial making a very big bet that diesel is not dead. but the ceo of engine maker cummins is here to tell us why h
liz: steve, jay powell is speaking tomorrow and then thursday. what are you expecting from him, and when are you expecting the first rate cut? if. >> i think what we're probably expecting from him baseline is he's going to reinforce this narrative that they can be patients continue to watch the data come in. the market's pricing that in. you know, tom and i were talking before the show just how it's shifted. we shifted from as many as a six cuts to a little over three and a half at this...
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Mar 22, 2024
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let's hear directly from jay powell himself, with his take. >> we believe that we are at the peak for the tightening cycle and if the economy evolves broadly as expected, it will likely be appropriate to begin dialing back policy restraint at some point this year. the economic outlook is uncertain, however, and we are highly attentive to inflation risks. vonnie: joining us now, marianne and matt, thank you for joining. after having seen what we saw this week, are your thoughts on where we are headed rate-wise any different? marianne: as for me, no. the fed has been very clear in their process since last year. what is amazing, as you pointed out, the market continues to look for rate cuts. the equity markets did well, fixed income had some bucking, and there is still some of that in the fixed income markets now, but the equity markets are not paying attention to that at all, because we have earnings. although rates are important to part of the valuation of the markets, the markets, i think, are riding on earnings and the anticipation of productivity enhancements from ai, though we are
let's hear directly from jay powell himself, with his take. >> we believe that we are at the peak for the tightening cycle and if the economy evolves broadly as expected, it will likely be appropriate to begin dialing back policy restraint at some point this year. the economic outlook is uncertain, however, and we are highly attentive to inflation risks. vonnie: joining us now, marianne and matt, thank you for joining. after having seen what we saw this week, are your thoughts on where we...
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Mar 20, 2024
03/24
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powell at 2:30 p.m. eastern after the meeting concluded at 2:00 o'clock and perhaps will get clarity on what the fed is on rate cuts, joining the fitz-gerald group principal keith fitz-gerald. great to see you, the fed is in a bind according to knecht amorose who was with us yesterday with the wall street journal because the last month of inflation really were hotter than expected do you keep up the fight of inflation to take the inflation down with more rate hikes or do you deal with the market expecting that you very been successful in taking inflation way down and start cutting rates, what are you expecting? >> that's an interesting question. i am the latter the markets are forward-looking which is data-driven and data looking in the rearview mirror, i would like to see the strategic decisions going forward. maria: rebecca you heard from christine legarde from the european central bank. i want to talk about what you read from that. here is jim grant his interest-rate observer founder was with us last
powell at 2:30 p.m. eastern after the meeting concluded at 2:00 o'clock and perhaps will get clarity on what the fed is on rate cuts, joining the fitz-gerald group principal keith fitz-gerald. great to see you, the fed is in a bind according to knecht amorose who was with us yesterday with the wall street journal because the last month of inflation really were hotter than expected do you keep up the fight of inflation to take the inflation down with more rate hikes or do you deal with the...
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Mar 21, 2024
03/24
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markets higher across the board after jay powell said to expect three rate cuts this year and three more over the next two years all three major nbc closed in record territory since the first time since november 2021, what a performance with the dow industrial 401 and the nasdaq 202 at the close yesterday. everything investors are watching. initial jobless claims in the philadelphia fed and ducks at 8:30 a.m. eastern. european markets are mixed, the eurozone factually higher. the bank of england making this decision we will have that news. in asia overnight markets finished higher with the exception of the shanghai composite, the cosby in korea to win 3%. the biden family influence peddling catching up as a former business associate of hunter biden testifies on capitol hill giving a list of crimes that he said they are guilty of this as house democrats sweep the growing evidence under the rug, james comer and vice president biden to testify on the foreign influence peddling as the impeachment investigation is now heating up. strategic wealth partner mark tepper, gop strategist and cyber
markets higher across the board after jay powell said to expect three rate cuts this year and three more over the next two years all three major nbc closed in record territory since the first time since november 2021, what a performance with the dow industrial 401 and the nasdaq 202 at the close yesterday. everything investors are watching. initial jobless claims in the philadelphia fed and ducks at 8:30 a.m. eastern. european markets are mixed, the eurozone factually higher. the bank of...
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Mar 5, 2024
03/24
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mixed economic data in the run-up to jay powell testimony to congress over the next couple of days. a lot in play, let's take a look at the markets here. a lot of red on the screen. s&p 500 broken down about a 10th of 1% on the day. the nasdaq 100 all of session lows but close to them. down about 1.5% on the day so far. the semiconductor index, about 1.7%, also down on the day. a breath of relief year after hitting all-time highs for these indexes. the two yields breaking down below 4.60, well below. about a three basis point move but remember we were still above 4.60 just yesterday. weaker dana driving those higher, the testimony to congress. the u.s. dollar breathing a sigh of relief after reaching a record on the day here. still up 7/10 of 1% off the highs of the day but still getting event. bitcoin is getting off of record highs. it did indeed touch that record but has now fallen very meaningfully to that $64,000 level, down now about 4.6%. we are talking about apple continuing its decline helping to lead a lot of those tech heavyweights stocks. that decline after apple sales in
mixed economic data in the run-up to jay powell testimony to congress over the next couple of days. a lot in play, let's take a look at the markets here. a lot of red on the screen. s&p 500 broken down about a 10th of 1% on the day. the nasdaq 100 all of session lows but close to them. down about 1.5% on the day so far. the semiconductor index, about 1.7%, also down on the day. a breath of relief year after hitting all-time highs for these indexes. the two yields breaking down below 4.60,...
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Mar 11, 2024
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i don't know if jay powell took a shot after he saw that or not? >> i think long-term the fiscal deficit is baked into the cake. regardless of election outcomes, regardless of a lot of things, a lot is demographic driven. a lot has built up over a long period of time. that is constant multitrillion dollar deficit which is a background stimulus for certain parts of the economy that are receiving it but also structurally inflationary and the tight monetary policy can restrict some areas of the economy, particularly the interest interest rate sensitive areas, commercial real estate all the usual names. the problem when the public debt is so high relative to the size of the economy like it is right now, the higher interest rate also blows out the deficit significantly and so the overall monetary policy becomes somewhat less effective at cooling down the economy or cooling down inflation than it would if there was a lower debt environment. so one of the reasons i'm bullish on assets like bitcoin or gold or say energy stocks, for example, is because i th
i don't know if jay powell took a shot after he saw that or not? >> i think long-term the fiscal deficit is baked into the cake. regardless of election outcomes, regardless of a lot of things, a lot is demographic driven. a lot has built up over a long period of time. that is constant multitrillion dollar deficit which is a background stimulus for certain parts of the economy that are receiving it but also structurally inflationary and the tight monetary policy can restrict some areas of...
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Mar 8, 2024
03/24
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jay powell was so interesting in what he said because he said they are waiting to gain confidence and they are not far off gaining the confidence. as that becomes more entrenched we can see the two year move lower. that is more returns for investors. sonali: how do you think about not just the two-year, but you did see movement in the 10 year. there is still uncertainty. >> i think where investors want to be moving towards, and that is what we are finding in fund flows is the intermediate part of the curve. investors moving to the belly of the curve. that is where you are earning the most amount of duration as well as coupon. as you look out further, past the seven year points. looking at tens and 20's and 30's, there can be an expectation of further steepening. that can continue. a lot of supplied to contend with. i think investors are better off right now given the strength of economic data, given there is so many questions about the decelerating path in flesh and, you want to clip your coupon top you want to do that in active funds within the high-yield and em spaces. ed: -- sonali
jay powell was so interesting in what he said because he said they are waiting to gain confidence and they are not far off gaining the confidence. as that becomes more entrenched we can see the two year move lower. that is more returns for investors. sonali: how do you think about not just the two-year, but you did see movement in the 10 year. there is still uncertainty. >> i think where investors want to be moving towards, and that is what we are finding in fund flows is the intermediate...
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Mar 29, 2024
03/24
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daniel, you just heard from jay powell. do you think he might agree? >> well, thank you very much, lauren. i think that's the big mistake that we are seeing, is that the inflation reduction act has become the inflation perpetuating mistake. the decision of the government to massively increase spending and massively increase deficit which is, ultimately, printing money has made inflation worse. i am particularly concerned about the fact of the genuine reading has been revised up. the january reading. and the february reading when we rook at the tree months' trend and the six months' trend is actually very negative if because with it's accelerating. so what it's showing, basically, is that the government is unnecessarily hitting up the economy and -- heating up the economy and making americans poorer at the same time. the reality is that disposable income has fall opinion yet again. so i think it's a very dangerous situation for the fed to call the success of having beaten the inflation problem because it's not beating anywhere. remember that inflation i
daniel, you just heard from jay powell. do you think he might agree? >> well, thank you very much, lauren. i think that's the big mistake that we are seeing, is that the inflation reduction act has become the inflation perpetuating mistake. the decision of the government to massively increase spending and massively increase deficit which is, ultimately, printing money has made inflation worse. i am particularly concerned about the fact of the genuine reading has been revised up. the...