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as a result, denver is short 70,000 housing units for its current population. >> with the housing crisis at the level that it is at, people are really passionate about doing something about it and getting results. >> aaron and his girlfriend just moved here from ohio. he was in food services, but says he sees big potential in home building and in denver. why do you think young people like yourself are moving specifically to denver? >> i think a lot of the politics are more what young people are interested in, and also all the recreation options are great. also recreation marijuana is for people to move here, for sure. >> many of the students here are recent denver transplants. >> we're going to make duplicates of them. >> it's a beautiful place and the economic growth really economic prosperity. >> and that prosperity has led to more tourism, more hotels, all with a focus on the environment and the outdoors. and i'll show you more of that on an extended version of that piece on "cities of success." >> if you have a place where people are moving in, 18% higher population than a decade ago
as a result, denver is short 70,000 housing units for its current population. >> with the housing crisis at the level that it is at, people are really passionate about doing something about it and getting results. >> aaron and his girlfriend just moved here from ohio. he was in food services, but says he sees big potential in home building and in denver. why do you think young people like yourself are moving specifically to denver? >> i think a lot of the politics are more...
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copper is a read on house in the u.s. how will housing impact copper prices and demand in europe? >> we see weakness. europe is the weak man of the industrial economy. we have seen weak demand. the european union can get 480 billion euro to upgrade the grid. all of the investment in a.i. and data centers is an intensive spend. >> this is the theory. what about the practice? how do we put the money to work? which stocks are you looking for and which have a good runway? >> interesting. i mentioned that china is coming back to life. we have seen it. china is okay. we will get the old-school economy fiscal impulse coming through with the special purpose bonds issued. copper is a core holding. i would say i like to see the fundamentals catch up a bit to the price. you mentioned dpgold and silver. the solar technologies are more silver intensive than the sales dominating today. we do see industrial tailwinds. >> thank you for joining us. you have an exciting patch so far this year. colin hamilton, with bmo. >>> coming up on the show. cease-fire talks continue in cairo as prime minister
copper is a read on house in the u.s. how will housing impact copper prices and demand in europe? >> we see weakness. europe is the weak man of the industrial economy. we have seen weak demand. the european union can get 480 billion euro to upgrade the grid. all of the investment in a.i. and data centers is an intensive spend. >> this is the theory. what about the practice? how do we put the money to work? which stocks are you looking for and which have a good runway? >>...
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if the house, though, and they have their privileges as well. if they want to try separate it out, we haven't seen what's in each one of the four bills yet. we will by the end of this week, then the senate will have to respond. my suspicion is that we're going to do best we can to get it back to as close to as what left in terms of substance, as what left the senate in the first place. >> one of the things that was in one of the house bills back in november, if you remember, was the funding for israel, but it was offset by cuts to the irs. how would that go over if in fact, that comes back in this? >> yeah, look, i think the whole process here is what can pass in a bipartisan manner. and the way that it came out of the senate, we had bipartisan support. if the -- i mean, once again, this has not passed the house yet. and it may very well take a bipartisan vote in the house, in order to get it passed. so rather than right to figure out what they're going to accomplish in the house, i think they're going to have to come up with something that they
if the house, though, and they have their privileges as well. if they want to try separate it out, we haven't seen what's in each one of the four bills yet. we will by the end of this week, then the senate will have to respond. my suspicion is that we're going to do best we can to get it back to as close to as what left in terms of substance, as what left the senate in the first place. >> one of the things that was in one of the house bills back in november, if you remember, was the...
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to the white house? >> of course, i would be honored. i don't know what capacity they would need me. if they did, i would. right now, i'm totally focused on my dating app, the right stuff, for skconservatives and businesses and growing my brand. >> we appreciate you joining us this morning. really appreciate it. >> thank you for coming in. r >>> still to come lael brainard will join us and a reminder, as we thaed to a break, you can get the best of "squawk box" in our daily podcast. follow squawk pod on your favorite podcast app and listen anytime. we'll be right back. (sirens) [due at target in 5!] copy that. make a hard left down the alley. network's got you covered. [please confirm requesting back-up.] -changing route. -go. roadblock ahead. ...back up, back up... reverse! reverse! next level moments, we're 30 seconds out. need the next level network. [north corridor, hurry!] -coming through! -or 3, let's go. the network more businesses choose. transplant received. at&t business. >>> welcome back to "s
to the white house? >> of course, i would be honored. i don't know what capacity they would need me. if they did, i would. right now, i'm totally focused on my dating app, the right stuff, for skconservatives and businesses and growing my brand. >> we appreciate you joining us this morning. really appreciate it. >> thank you for coming in. r >>> still to come lael brainard will join us and a reminder, as we thaed to a break, you can get the best of "squawk...
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maybe the autos, maybe the housing. a lot of this is speculative, because at the same time you battle these higher rates, you have this better economic growth >> i guess it does -- i work on an investment committee on a charity which i serve on the board. we were having a discussion last night about whether okay, we have x in equities, maybe we should take a little off, we were a little above our upper bond and move it in a two-year treasury at 2% >> sounds like a good move >> higher for longer means the challenge to stocks from the risk-free rate goes on for longer >> i think if the ten-year yield continues to go up higher, you to have options all of a sudden. and i think that's fair. there is the -- what if rates go up another 1% from now, that changes the picture versus is this just volatility of language change for the fed >> let me ask both of you guys this question. when the yield curve inverted, there was a lot of pandering that this is bad stuff, it's awful, recession is coming so on and so forth yields are stil
maybe the autos, maybe the housing. a lot of this is speculative, because at the same time you battle these higher rates, you have this better economic growth >> i guess it does -- i work on an investment committee on a charity which i serve on the board. we were having a discussion last night about whether okay, we have x in equities, maybe we should take a little off, we were a little above our upper bond and move it in a two-year treasury at 2% >> sounds like a good move >>...
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plus it's got be support in the house. it shields members from under 18 from being harass and and attacked and bullied. but he would like to see the senate get a vote. they're facing upcoming deadlines. some real big breaks in terms of what we're seeing with the legislation, but a question mark as to whether we're going to see votes coming up on these pieces. >> emily, thank you. emily wilkins, d.c. >>> coming up, going for the gold. the olympic torch has been lit, and the 3,000-mile relay from greece to france is coming up. "squawk box" is coming right back. what is cirkul? cirkul is the fuel you need to take flight. cirkul is the energy that gets you to the next level. cirkul is what you hope for when life tosses lemons your way. cirkul, available at walmart and drinkcirkul.com. >>> news out of eli lilly this morning. the company saying that two late stage trials evaluating zepbound reduce lsleep apnea by two-thirds. this will surmount osa trials. the stock is up by half a percent on the back of this. andrew? >>> this is
plus it's got be support in the house. it shields members from under 18 from being harass and and attacked and bullied. but he would like to see the senate get a vote. they're facing upcoming deadlines. some real big breaks in terms of what we're seeing with the legislation, but a question mark as to whether we're going to see votes coming up on these pieces. >> emily, thank you. emily wilkins, d.c. >>> coming up, going for the gold. the olympic torch has been lit, and the...
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remember, housing is out of the cpi, because in 1980, they were worried about housing inflation. they wanted to make the number look big. we have an immigration problem, and we also, if we raise rates in the affordability of houses, it's going to get even worse. the fed's in a box on housing. >> some people would also say the fed's -- it's not their problem, but richard fisher was on yesterday talking about it again, that auction yesterday, by the way, didn't go as well as it might have. >> the auction -- >> meaning, concerns about so much -- so much supply to help fund our deficits and not enough demand, and that's a concern as well this year. do you share that concern? >> no, i am concerned about that, because huge supply. i mean, just dramatic supply. our man in chicago is -- he's grading real hard. santelli is grading real hard. >> he's whatting? >> grading. >> not grating. >> he's grading. >> with a "d." >> watch yourself. with a "d," not a "t." >> i'm just trying to figure out what you're saying. >> what matters to me here is when i got a "d" once in biology, i went to see
remember, housing is out of the cpi, because in 1980, they were worried about housing inflation. they wanted to make the number look big. we have an immigration problem, and we also, if we raise rates in the affordability of houses, it's going to get even worse. the fed's in a box on housing. >> some people would also say the fed's -- it's not their problem, but richard fisher was on yesterday talking about it again, that auction yesterday, by the way, didn't go as well as it might have....
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we know housing is an issue. you have other commodities and not just oil, metals and many other inputs as manufacturing ramps up. that could be more important for the fed. i will not say they will dismiss it and look at cpi without energy. it will be an important factor. >> let's get back to the markets. earnings season is about to kickoff. yesterday was the eclipse. you are looking at the earnings ecl eclipse. explain why this is important for investors and how should this influence if other people fall along with the investment strategy? >> in the first quarter, it is expected that it will be the last quarter that the magnificent seven earnings growth in yellow is positive and negative for the rest of the stock market. by the fourth quarter of this year, relative earnings growth is expected to flip with the rest of the world expected to eclipse the growth in the magnificent seven. this may further shift away from the mag seven where others are recovering like financials and energy and materials. >> jeff, we hav
we know housing is an issue. you have other commodities and not just oil, metals and many other inputs as manufacturing ramps up. that could be more important for the fed. i will not say they will dismiss it and look at cpi without energy. it will be an important factor. >> let's get back to the markets. earnings season is about to kickoff. yesterday was the eclipse. you are looking at the earnings ecl eclipse. explain why this is important for investors and how should this influence if...
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month when a key housing inflation gauge fell by .2%. we'll see if we get progress there this month. but the broader issue for the fed is that core inflation has been stuck in the high 3s after considerable progress last year. it declined just .3 of a point since september, you see it flatlining there. several fed officials noted stalled or slowing inflation progress and said, hey, they're reluctant to cut rates without further declines and further progress. tomorrow's ppi will be put together with today's cpi to get a better picture of the pce. that's the fed's preferred inflation indicator. but running a little lower, andrew, but it still has been showing that lack of progress or the stalled progress. >> so what is your bet? are we going to bet here? >> i don't really -- most of the indicators i've seen have suggested toward the high side. you got the cleveland fed number, it has been running 0.34. and then we have our price index that we run, our high frequency price index, that was up 0.5. look, andrew, i got to say, it is sort of am
month when a key housing inflation gauge fell by .2%. we'll see if we get progress there this month. but the broader issue for the fed is that core inflation has been stuck in the high 3s after considerable progress last year. it declined just .3 of a point since september, you see it flatlining there. several fed officials noted stalled or slowing inflation progress and said, hey, they're reluctant to cut rates without further declines and further progress. tomorrow's ppi will be put together...
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we are expecting a press briefing at the white house momentarily. so we will update you with any information that comes from that, jon. back over to you. >> eamon, i'm seeing a headline here that israel's military chief of staff is saying there will be a response to iran's launching of so many missiles and drones toward the territory. because they were intercepted and there was reduced casualties, tragically this 10-year-old girl injured, it seems like there's a need on multiple sides to save face here, but also trying to keep escalation from happening. that's a delicate dance, i imagine. >> absolutely. you can see antony blinken in the sound bite we just played urging restraint saying that strength and wisdom need to be flip sides of the same coin. clearly, the united states does not want escalation from either side here, but the united states also committed to the defense of israel here and participating in knocking down some of that incoming over the weekend. the united states here in a bit of an awkward position and israel needs to decide how mu
we are expecting a press briefing at the white house momentarily. so we will update you with any information that comes from that, jon. back over to you. >> eamon, i'm seeing a headline here that israel's military chief of staff is saying there will be a response to iran's launching of so many missiles and drones toward the territory. because they were intercepted and there was reduced casualties, tragically this 10-year-old girl injured, it seems like there's a need on multiple sides to...
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are you a borrower, looking to buy a house, trying to finance a factor? on the other side, are you collecting nice interest income as receiver, are you a boomer that wants to go on cruises? you seem to be doing just fine. >> the lender part is looking pretty good right now, jeff. what moves are you making in this environment, given not only do rates not seem to be coming down any time soon, but yields getting a little spike. >> so, you know, we're still in kind of hold your ground mode, and there's no specific theme that we see out there. what we do like is, you know, having active strategies that we manage. there really is correlations that are coming down. you can even see that within the magnificent seven. they're moving in disparate kind of patterns, and that says that there's opportunity that's based upon the fundamentals, the valuations and technical elements of these stocks. so they're maintaining a blend between growth and value. we find plenty of attractive opportunities within technology outside of the magnificent seven. and we really like withi
are you a borrower, looking to buy a house, trying to finance a factor? on the other side, are you collecting nice interest income as receiver, are you a boomer that wants to go on cruises? you seem to be doing just fine. >> the lender part is looking pretty good right now, jeff. what moves are you making in this environment, given not only do rates not seem to be coming down any time soon, but yields getting a little spike. >> so, you know, we're still in kind of hold your ground...
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the second thing is the transaction of house sales is actually really subdued. for example, if you look at the housing prices in first year cds, in shanghai, it remains in negative territory. that suggests the impact to the household wealth would be negative which would drag the consumption moving forward. we would like to highlight the headwinds of the sector which is increasing. that is suggesting that even if we're looking a stronger performance this year, but to maintain that performance would be a challenge for the government to happenedndle. >> q1 keeps china on pace for the market. some output slumped 22% and food over capacity signals the industrial side shows a slowdown. if people are not buying food, it is hard to imagine them buying other things. how should investors read these two leading indicators? >> that's a great question. i think china's overcapacity issue is a reflection of both supply as weak in domestic demand. you mentioned food specifically. i think the overcapacity issues in the food industry is a reflection that china's catering industry
the second thing is the transaction of house sales is actually really subdued. for example, if you look at the housing prices in first year cds, in shanghai, it remains in negative territory. that suggests the impact to the household wealth would be negative which would drag the consumption moving forward. we would like to highlight the headwinds of the sector which is increasing. that is suggesting that even if we're looking a stronger performance this year, but to maintain that performance...
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same story with housing. we've got persistent housing shortage pushing prices up and the high cost of mortgages makes it worse, worse than years. many people who'd normally be eager to sell their home won't do it because they don't want to give up their ultra low mortgage rates from the many years when rates were much lower because we had to combat covid. who wants to swap a 3% mortgage for a 7% mortgage? i don't. it's no wonder the housing affordability is the worst since the 'airkts at least according to the journal. if you're on the fed and you saw the cpi remaining high you have one tool, you can raise rates to try to get prices lower. but right now raising rates will make housing and autos more expensive, which means the fed's one tool doesn't work. in fact if we want more cars and houses which would solve the problem then i'd argue the fed actually does need to cut rates. when you look at the other big contributors to that overheated cpi number a big part of it was food which comes down -- what is it, w
same story with housing. we've got persistent housing shortage pushing prices up and the high cost of mortgages makes it worse, worse than years. many people who'd normally be eager to sell their home won't do it because they don't want to give up their ultra low mortgage rates from the many years when rates were much lower because we had to combat covid. who wants to swap a 3% mortgage for a 7% mortgage? i don't. it's no wonder the housing affordability is the worst since the 'airkts at least...
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>> who do you think will win the white house in 2032? which type of a.i.? transformers or the future? >> there are treatments in cystic fibrosis and cancer. it has become the oscars of science. you laugh in some ways, but we don't put enough attention on sciences and to go out and celebrate them this way and put attention on them. >> i'm waiting for the scientists to show up on the oscars red carpet. >> we can only hope. >> with the goodie bags and all. >> we have two more terms of human presidents according to elon. >> which type of a.i.? >> we have a full eight years to figure it out. >>> coming up, the escalating war in the middle east could impact the fed's next move. steve liesman has the story. >>> and follow squawk pod on your favorite podcast app and listen anytime. we're coming right back. hi, i'm janice, and i lost 172 pounds on golo. when i was a teenager i had some severe trauma in my life and i turned to food for comfort. a friend told me that i was the only one holding me back from being as beautiful on the outside as i am the inside. once i s
>> who do you think will win the white house in 2032? which type of a.i.? transformers or the future? >> there are treatments in cystic fibrosis and cancer. it has become the oscars of science. you laugh in some ways, but we don't put enough attention on sciences and to go out and celebrate them this way and put attention on them. >> i'm waiting for the scientists to show up on the oscars red carpet. >> we can only hope. >> with the goodie bags and all. >> we...
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and job gains driving up housing inflation. there is good news in all this. he talks about the inbound in immigration easing labor market tightness. he says inflation has stepped down significantly, and the economy is growing well, above trend. the trouble with that, it's that well above trend growth that makes him wary about cutting interest rates. so interesting to note, the reason i wanted to log this in, it's only the second speech he's given on the economy since taking office. we're wondering what he follows with. >> steve liesman, thanks for bringing that to us. markets are still close to session lows. the dow down about 560 points. with rates spiking and the dollar strengthening, it's not a great day for international equities. sima, what are you seeing? >> it wasn't just the u.s. markets hoping form an interest rate cut this year. the international world was also betting on rates dropping and bringing down the cost of capital. most emerging markets are still sitting on dollar denominated debt, so when rates are higher and the dollar firms up, it gets
and job gains driving up housing inflation. there is good news in all this. he talks about the inbound in immigration easing labor market tightness. he says inflation has stepped down significantly, and the economy is growing well, above trend. the trouble with that, it's that well above trend growth that makes him wary about cutting interest rates. so interesting to note, the reason i wanted to log this in, it's only the second speech he's given on the economy since taking office. we're...
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i'm able to clean my house. i'm able to do just simple tasks that a lot of people call simple, but when you're extremely heavy they're not so simple. golo is real and when you take release and follow the plan, it works. >>> a bunch of earnings ahead. stephanie, you first on las vegas sands. that's tomorrow and after the bell. >> yeah, i think it should be pretty good. it's pent up demand. we know that aircraft ferry capacity has increased. i think the margin also be fine. >> genuine parts, that's thursday, jimmy. >> the stock has been lackluster, to say the least. but the fundamentals should be in tact. the average age of cars on the road is very long. those cars need to be repaired. >> glad we had this housing conversation earlier, because dr horton reports thursday before the bell. what do we think about this? the stock is down 4.5% year-to-date. plays into that backed up rate story. >> this is going to be seasonally a very strong quarter. kdh had 55% order growth when they reported two weeks ago. it's a matte
i'm able to clean my house. i'm able to do just simple tasks that a lot of people call simple, but when you're extremely heavy they're not so simple. golo is real and when you take release and follow the plan, it works. >>> a bunch of earnings ahead. stephanie, you first on las vegas sands. that's tomorrow and after the bell. >> yeah, i think it should be pretty good. it's pent up demand. we know that aircraft ferry capacity has increased. i think the margin also be fine....
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. >> i take them off when i come in the house because i don't want pebbles all in the house. bam-bam. >> i'm off on on. a lot of red on that board. here at the big board, auna celebrating its recent listing at the nasdaq -- excuse me, recent listing. over at the nasdaq, we've got the national security emerging markets index etf because, jim, there is an etf for everything. >> did you see that private credit etf that came out the other day? it just got crushed. i mean, the value's, like, $4 and it's at 60. >> there's literally an etf for everything. >> and a lot of them are silly, but david, china etf, yes, no, maybe. jack ma saying things. >> jack ma is saying things, and it may be having an feeffect on baba. >> are they pivoting towards capitalism? >> no, listen, mr. ma's comments about alibaba -- it is interesting, because we talk so often about that being the bellwether of the chinese market in some way, and certainly it's the name that many investors know the best, but they lost their mojo at baba. >> i'm glad you brought that up. >> temu, pinduoduo, bytedance, not a publ
. >> i take them off when i come in the house because i don't want pebbles all in the house. bam-bam. >> i'm off on on. a lot of red on that board. here at the big board, auna celebrating its recent listing at the nasdaq -- excuse me, recent listing. over at the nasdaq, we've got the national security emerging markets index etf because, jim, there is an etf for everything. >> did you see that private credit etf that came out the other day? it just got crushed. i mean, the...
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the senate deal stalled in the house. speaker mike johnson said he wants to pass some type of legislation. lawmakers are trying to work together to hammer something out to get passed this week. frank. >> brie jackson live in d.c. brie, thank you. >>> i want to bring the conversation back to markets. we heard from u.s. lenders last week. their shares declined after they failed to impress in the first quarter. jpmorgan chase beat expectations for eps revenue, but issued disappointing guidance for net income. elsewhere, wells fargo topped estimates, but reported a decline in net interest income. citigroup posted revenue that beat wall street expectations, but profits declined 27% from the year before amid higher expenses and credit costs. looking ahead to european bank earnings, our next guest says a year after the collapse of svb and credit suisse, there is a divergence with key players in the banking sector. christian edelman is with us. good morning. good to have you here. let's look at what we are looking to hear from yo
the senate deal stalled in the house. speaker mike johnson said he wants to pass some type of legislation. lawmakers are trying to work together to hammer something out to get passed this week. frank. >> brie jackson live in d.c. brie, thank you. >>> i want to bring the conversation back to markets. we heard from u.s. lenders last week. their shares declined after they failed to impress in the first quarter. jpmorgan chase beat expectations for eps revenue, but issued...
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could this be a solution to america's housing crisis? we'll be right back. encore energy, america's clean energy company, now in production in south texas. energizing america with reliable and affordable uranium for nuclear energy fuel from our environmentally friendly extraction process. encore energy. power e*trade's easy-to-use tools, like dynamic charting and risk-reward analysis, help make trading feel effortless. and its customizable scans with social sentiment help you find and unlock opportunities in the market. e*trade from morgan stanley. with powerful, easy-to-use tools, power e*trade makes complex trading easier. react to fast-moving markets with dynamic charting and a futures ladder that lets you place, flatten, or reverse orders so you won't miss an opportunity. e*trade from morgan stanley. >>> welcome back the power lunch. a number of major banks and financial institutions get set to report key line results. chief market strategist. first up, this is how most play the financial space. what you most say about this one? >> f
could this be a solution to america's housing crisis? we'll be right back. encore energy, america's clean energy company, now in production in south texas. energizing america with reliable and affordable uranium for nuclear energy fuel from our environmentally friendly extraction process. encore energy. power e*trade's easy-to-use tools, like dynamic charting and risk-reward analysis, help make trading feel effortless. and its customizable scans with social sentiment help you find and unlock...
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data from nbc sports which houses the tee time platform and the golf now platform tracks bookings for tee times. they are up 15% year over year through the month of march as the pandemic tailwinds start to normalize. data from the national golf foundation, 15% increase in the number of female golfers out there. a lot more participation and this is obviously a very important week for all those golf fans and golf economy. >> speaking of the golf economy, big money event and there is a tug-of-war with liv and the pga. where does that stand? >> it stands where it stood about a week or two weeks or three months ago. there is not a lot of activity now. there was an expectation at the end of last year that we could see the move toward some construct of a deal in the early part of the year. that did not happen. then there was a push back and folks thought it would happen as we approached the masters. we have not seecn a deal arise yet. one of the telling things is rory mcilroy who talked about the idea that the current state of golf in professional sports is unsustainable given the dynamic we
data from nbc sports which houses the tee time platform and the golf now platform tracks bookings for tee times. they are up 15% year over year through the month of march as the pandemic tailwinds start to normalize. data from the national golf foundation, 15% increase in the number of female golfers out there. a lot more participation and this is obviously a very important week for all those golf fans and golf economy. >> speaking of the golf economy, big money event and there is a...
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they have houses either with no mortgage or locked in under 4% that is who is boosting the economy. it will likely continue so when rates are higher where it's hurting are the first-time home buyers can't get into the housing market. it's making things more expensive for the next generation it's why the general economy can continue to do well even while rates are higher. >> plus we have to enter into the valuation prism as well with the s&p that, if we're not going to get rate cuts, you can't hold this valuation is it good for the markets -- >> you cannot hold. >> it cannot the market is looking for rate cuts on the horizon. that horizon keeps getting further away f. the horizon becomes further away, the market's got to give something back i'm still of the opinion we have more cuts versus less cuts the caveat is what's more and what's less? i still think we get three cuts. >> you still think we're going to get a cut in may? >> obviously may seems like a real -- >> that was what you were saying that shocked us all, our jaws hanging -- >> i thought up until the last couple iterations
they have houses either with no mortgage or locked in under 4% that is who is boosting the economy. it will likely continue so when rates are higher where it's hurting are the first-time home buyers can't get into the housing market. it's making things more expensive for the next generation it's why the general economy can continue to do well even while rates are higher. >> plus we have to enter into the valuation prism as well with the s&p that, if we're not going to get rate cuts,...
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joe terranova, bryn talkington is in the house, steve weiss and jim lebenthal. let's check the markets. we're down about 500 on the dow, down across the board, as you know by now. yields are up. cpi was hotter than expected. i want to know from everybody today, bryn, what changed today for the outlook for the market, if anything? if anything. >> i think everyone expecting to come in at 0.3, and that we're just going to cruise on and this rally is going to start back up were sorely mistaken. this last mile, this proverbial last mile we're talking about, i think may be longer than a mile. you look at core, and everyone likes to take them out, core ex-shelter, core ex, ex. i think as taking today's data point coupled with a strong manufacturing data and thursday's sell-off last week it does feel like this market is tired. it's consolidating. i think that earnings will be strong, but right now, i think really positioning as an investor or a trader, you need to think through certain sectors that you may have been overweight going to the next few months. i think you'r
joe terranova, bryn talkington is in the house, steve weiss and jim lebenthal. let's check the markets. we're down about 500 on the dow, down across the board, as you know by now. yields are up. cpi was hotter than expected. i want to know from everybody today, bryn, what changed today for the outlook for the market, if anything? if anything. >> i think everyone expecting to come in at 0.3, and that we're just going to cruise on and this rally is going to start back up were sorely...
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we have an aging housing stock in america. so, our homes have more frequency of leaks from older roofs. we have more frequency of busted pipes. this is now translating into a higher elevated insurance cost. our behavior driving -- we have more frequency of accidents than at any time, and that means we have elevated car insurance. so, if you look at the most recent inflation numbers, so much of it was insurance, and if you overlay what i talked about in terms of my -- in my chairman's letter about elongation of life, the cost of elongation of life is going up. and long-term health care costs are going up. all those numbers were shown in the inflation number. so, central banks have a harder time arresting service inflation. a great statistic that my good friend, rick rieder, uses all the time, the cost of a pair of nikes or adidas is about the same price for 30 years. so, you would say, product prices are virtually unchanged. but the cost of going to a sporting event, the cost of going to a rock concert to see taylor swift, is s
we have an aging housing stock in america. so, our homes have more frequency of leaks from older roofs. we have more frequency of busted pipes. this is now translating into a higher elevated insurance cost. our behavior driving -- we have more frequency of accidents than at any time, and that means we have elevated car insurance. so, if you look at the most recent inflation numbers, so much of it was insurance, and if you overlay what i talked about in terms of my -- in my chairman's letter...
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and people made a lot of hay about housing yesterday. when you look at the pce, the housing stuff isn't nearly as important. so, yeah, as i said, it is not a time to panic. but, you know, they need to stick with where they have been, and not ease off, because this victory is just not here yet. i was hoping it would be, but it is not. >> we have a lot more to talk about with you i hope you'll come back soon, just in terms of some of the things that are bleeding into inflation, where you see that heading, we'll have you back very quickly, okay? >> great. >> jason furman. >>> coming up, the latest on the drama taking place at paramount. and later, tired of targeted ads on social media, want to opt out of sharing certain data with websites? the government is looking to do something ouabt it. we'll discuss new bipartisan legislation making its way through congress on this issue. we'll be right back. and more about discovering magic. rich is being able to keep your loved ones close. and also send them away. rich is living life your way. and ha
and people made a lot of hay about housing yesterday. when you look at the pce, the housing stuff isn't nearly as important. so, yeah, as i said, it is not a time to panic. but, you know, they need to stick with where they have been, and not ease off, because this victory is just not here yet. i was hoping it would be, but it is not. >> we have a lot more to talk about with you i hope you'll come back soon, just in terms of some of the things that are bleeding into inflation, where you...
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house speaker mike johnson said details of the package are hammered out. he said he will push for more funding for israel. frank. >> brie jackson, thank you. let's turn to dan murphy in dubai. dan, tell us about the investor summit in the region as we await the possible israeli response. >> reporter: frank, analysts i spoken to today is a the iran attack was symbolic. that explains the market reaction we have seen today. investors, perhaps, breathing a sigh of relief here from tel aviv to abu dhabi. the benchmark rising steadily today. stocks in saudi arabia and uae are also higher. looking at the primary market here which is in the middle east being the oil market. the attack did not cause disruption to the oil supply or infrastructure. the risk premium is being dialed back. markets are closely watching any escalation risk that could disrupt iranian supply. as a result, we have seen oil prices really cooling off here. in terms of the other market reaction we have seen through the course of the asia and middle east trading day is gold being at a record hig
house speaker mike johnson said details of the package are hammered out. he said he will push for more funding for israel. frank. >> brie jackson, thank you. let's turn to dan murphy in dubai. dan, tell us about the investor summit in the region as we await the possible israeli response. >> reporter: frank, analysts i spoken to today is a the iran attack was symbolic. that explains the market reaction we have seen today. investors, perhaps, breathing a sigh of relief here from tel...
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. >>> turning now to washington and a news alert from the white house. the biden administration is directing its trade office to consider tripping tariffs on imports from the chinese of alu aluminum, moving it up to 25%. they're working on the mexican government to circumvent tariffs by importing metals to the u.s. through mexico. he will lay out his actions in a speed this afternoon. right now looking at steel prices, they're moving up just about 1%. >>> turning our attention back over to wall street, fed chairman jay powell's first comments. powell's word of the day, it appears to be "confidence." >> we have said that we'll need greater confidence. inflation has to move closer to 2%. it has not given us greater confidence and instead it's taking slightly longer than expected to achieve that confidence. >> and joning me now is ivory johnson, founder of wealth management and a member of the cnbc advisory council. good morning. i'm going to jump right into it. surprising that the futures are moving higher despite the comments from jay powell. >> i think t
. >>> turning now to washington and a news alert from the white house. the biden administration is directing its trade office to consider tripping tariffs on imports from the chinese of alu aluminum, moving it up to 25%. they're working on the mexican government to circumvent tariffs by importing metals to the u.s. through mexico. he will lay out his actions in a speed this afternoon. right now looking at steel prices, they're moving up just about 1%. >>> turning our attention...
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looking at the data, they are saying 61% of houses in the uk have amazon prime and 51% in germany. you are announcing a multieuro investment in robotics and hiring. >> we are announcingfor the first time to the public that over the last five years in europe, we have invested over 700 million euro for the development and implementation of over 1,000 new technologies in the field of row he botics a artificial intelligence and technologies that help our employees and our customers and our planet. all of this development is rooted right here in this lab. >> stefano, you are giving us numbers. there are a lot of impressive robotics right there. what does that mean to consumers who want to get their things faster? >> our technologies help employees by increasing safety at the workplace, but help the customers by receiving products with fast and reliable delivery and more sustainable ways of delivering products. for example, today, we are announcing for the first time to the public our latest technology called url or universal robotic leveller, which is a high-speed leveling technologies
looking at the data, they are saying 61% of houses in the uk have amazon prime and 51% in germany. you are announcing a multieuro investment in robotics and hiring. >> we are announcingfor the first time to the public that over the last five years in europe, we have invested over 700 million euro for the development and implementation of over 1,000 new technologies in the field of row he botics a artificial intelligence and technologies that help our employees and our customers and our...
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. >>> meanwhile, google is just announced its own custom in-house chips. and the proposition comes down to compute power and scarcity. google is on the gen-ai race. as a cloud provider, also needs to provide compute power to its cloud customers. so ai resources for which high-end chips are critical has to be rashed in some way or another. or it neets to be brought in-house to produce reliance on those outside vendors like an nvidia. the move lets google compete with chip makers like amd and intel. intel new 3 chips the chip wars they are indeed heating up and google can position itself as a potential chip provider for cloud customers to rely on ai workloads. google and megacap rifles are doing, axion is google's latest expansion into custom chips which they say is capable of a range of chips to ai-related work. the success of google's custom chips so far has been mixed. gen-ai darlings, they have used google. but it isn't the full hardware/software stack that nvidia has belt and which has helped it retain its dominance. >> that ecosystem -- >> that is real
. >>> meanwhile, google is just announced its own custom in-house chips. and the proposition comes down to compute power and scarcity. google is on the gen-ai race. as a cloud provider, also needs to provide compute power to its cloud customers. so ai resources for which high-end chips are critical has to be rashed in some way or another. or it neets to be brought in-house to produce reliance on those outside vendors like an nvidia. the move lets google compete with chip makers like...
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a really bad housing starts number this morning. bonds got a very brief bid and equity futures rallied a little bit. we're talking about small moves. >> talking multi-family, the print this morning on starts close to a decade low. permits down 4. we'll hear from powell today and barkin and williams, and jefferson should be hitting the tape sometime about now. >> you want to hear how they're characterizing the three straight hot cpi reports. i doubt there's going to be a big rethink they'll convey. i do think if they kind of stick to the story of we can be patient, the economy is giving us that luxury, but we do have an easing bias, that's not new news, but it maybe doesn't resolve everything we'd like to see resolved. >> mike mentions earnings. it's all about the banks. goldman upgraded as they point out the recent quarter demonstrates the strength of their franchise and what they're calling an investment banking upturn. morgan stanley and bofa, plenty of good metrics to look at. >> it would feel like it right now. both stocks appea
a really bad housing starts number this morning. bonds got a very brief bid and equity futures rallied a little bit. we're talking about small moves. >> talking multi-family, the print this morning on starts close to a decade low. permits down 4. we'll hear from powell today and barkin and williams, and jefferson should be hitting the tape sometime about now. >> you want to hear how they're characterizing the three straight hot cpi reports. i doubt there's going to be a big rethink...
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we land in colorado to explore denver and boulder over the rocky mountain life ststyle create power house economies. we're back right after this break. at morgan stanley, old school hard work meets bold new thinking. to help you see untapped possibilities and relentlessly work with you to make them real. >>> welcome back. time for the "wex wrap-up." the justice department looking to the investigation into the $14 billion takeover of u.s. steel by nippon steel. >>> microsoft is set to reveal a.i. tools for pc and cloud users at the build conference next month. >>> vertex is buying alpine immune sciences to get access to the therapies. each share is valued at $56 a share. >>> the department of justice is accusing regeneron of fraudulent practices over the pricing of the vision impairment drug. the allegations are without merit according to regeneron. >>> and costco boosts its dividend by 14% thanks to ecommerce. >>> the ntsb is conducting more interviews this week as part of the alaska air door plug investigation shares are down this morning. >>> and what to watch this morning is march prod
we land in colorado to explore denver and boulder over the rocky mountain life ststyle create power house economies. we're back right after this break. at morgan stanley, old school hard work meets bold new thinking. to help you see untapped possibilities and relentlessly work with you to make them real. >>> welcome back. time for the "wex wrap-up." the justice department looking to the investigation into the $14 billion takeover of u.s. steel by nippon steel. >>>...
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the publication used private investigators to tap his phone, but his car, and break into his house. he did not want to settle the case but felt he sort of has to because his trial was likely to be very expensive. back to you. >> seema moody, thank you very much. >>> boeings whistleblower testifying in front of the senate, with the management change already underway, what other risks could boeing face? we will k a asboeing show holder -- shareholder for his taken next. business. it's not a nine-to-five proposition. it's all day and into the night. it's all the things that keep this world turning. it's the go-tos that keep us going. the places we cheer. trust. hang out. and check in. they all choose the advanced network solutions and round the clock partnership from comcast business. powering more businesses than anyone. powering possibilities. [thunder rumbles] ♪ ♪ ♪ ♪ the biggest ideas inspire new ones. 30 years ago, state street created an etf that inspired the world to invest differently. it still does. what can you do with spy? ♪ ♪ [thunder rumbles] ♪ ♪ the stock
the publication used private investigators to tap his phone, but his car, and break into his house. he did not want to settle the case but felt he sort of has to because his trial was likely to be very expensive. back to you. >> seema moody, thank you very much. >>> boeings whistleblower testifying in front of the senate, with the management change already underway, what other risks could boeing face? we will k a asboeing show holder -- shareholder for his taken next. business....
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set off immense selling while some specialist firms on the floor of the exchange and some brokerage houses failed to step up in what's known as stabilize the tape. the latter had no duty to stabilize things, but the former were supposed to do so. the treasury found out that many didn't do they jobs. now, i was fortunate enough to actually be in cash on black monday. having liquidated my portfolio in the previous week. in retrospect it did make my career. i look like a true genius. the truth is i was frightened of the market and wanted to regroup. i always say, though, it's better to be lucky than good. this can maximize your lot, which is why we spend you so much time teaching you this. sometimes crashes have nothing to do with the economy. they're caused by the mechanics of the market. stay tuned for more examples of this kind of decline and the more serious animal, the bear market of 2007, 2009, of you can figure out what to do when they really maul us. irma in new york, irma. >> yes, good evening, mr. cramer. i'm planning to open nondeductible roth iras for my grandchildren, who are all
set off immense selling while some specialist firms on the floor of the exchange and some brokerage houses failed to step up in what's known as stabilize the tape. the latter had no duty to stabilize things, but the former were supposed to do so. the treasury found out that many didn't do they jobs. now, i was fortunate enough to actually be in cash on black monday. having liquidated my portfolio in the previous week. in retrospect it did make my career. i look like a true genius. the truth is...
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copper because it's using in housing. but what about demand when it comes to artificial intelligence and data centers? >> we're only four years -- four months, and it seems like ai is the investor of the year. now they're looking for secondary plays, and copper certainly is one. think about all of the grid infrastructure, all of the power infrastructure that's needed to support all of these data centers driven by gen ai, so according to morgan stanley, copper could see a 26% compound annual growth upgrade. that's big for a metal that's seen standard demand over the last decade or so. and with all the focus on the demand side, we cannot forget about the supply side because we've seen disruptions in places like panama. then when you talk about having to bring a new mine online, you're looking at about a 15-year time span. and so it's really hard to increase supply and just as the demand was already being lifted by the energy transition, seemingly out of nowhere, we had this surge in data centers. frank, copper could be movi
copper because it's using in housing. but what about demand when it comes to artificial intelligence and data centers? >> we're only four years -- four months, and it seems like ai is the investor of the year. now they're looking for secondary plays, and copper certainly is one. think about all of the grid infrastructure, all of the power infrastructure that's needed to support all of these data centers driven by gen ai, so according to morgan stanley, copper could see a 26% compound...
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isn't housing one of the basic rights he's looking at? i look through these numbers, and i say they're not nearly as bad. i think if the numbers were tabulated by, i don't know, by servicenow, by salesforce, we would look at the numbers and say, wait a second, these are not that inflationary. but, you know, when you calculate the numbers as what was on the cpi, i think that you could easily make a case that the fed should have raised one more time. i don't think that's wrong. it's just that what's happening, they're not getting the desired -- they're not getting the desired effect, and i think -- and the reason i say that is because if you go through morgan stanley and goldman-sachs, the window's open. people will be able to make money. the private credit is going to be able to be good again. that just says we're -- look out for more inflation. >> you even tweeted this morning, if you're looking at the banks, it's about the fees in an environment where ib is ascendant. >> they're all raving about how much money they're making off people.
isn't housing one of the basic rights he's looking at? i look through these numbers, and i say they're not nearly as bad. i think if the numbers were tabulated by, i don't know, by servicenow, by salesforce, we would look at the numbers and say, wait a second, these are not that inflationary. but, you know, when you calculate the numbers as what was on the cpi, i think that you could easily make a case that the fed should have raised one more time. i don't think that's wrong. it's just that...
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meantime we watch for nahb and how the housing market is feeling as rates have stayed high and makes it difficult to get in or refinance. wonder what that will be doing as we head into the spring season. >> places like housing that kicked off the beginning of the year, from last year. it's a big week on data, on earnings. just give you taste of what's ahead and what we're watching. we're going to get a number of big banks tomorrow, bank of america, morgan stanley, we get existing home sales as carl mentioned and starts. retail sales were out this morning and they added fuel to the higher rates, hawkish fed story that has been playing out in the markets because they were better than expected. 0.7% rise in march. the expectation was 0.3. the revisions on february and march higher, important especially on february. if you break down where the spending occurred, well, the biggest categories were nonstore retailers, buying online, up 2.7% on the month. gas stations, we know we've been paying more for oil prices lately, so spending more at gas stations. general merchandise had a 1% bump th
meantime we watch for nahb and how the housing market is feeling as rates have stayed high and makes it difficult to get in or refinance. wonder what that will be doing as we head into the spring season. >> places like housing that kicked off the beginning of the year, from last year. it's a big week on data, on earnings. just give you taste of what's ahead and what we're watching. we're going to get a number of big banks tomorrow, bank of america, morgan stanley, we get existing home...
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challenging the spositive momentum and the home builder survey and housing starts are suggesting that you're beginning to see weakening in demand. the spring season is not suggesting that it's going to be as strong as we witnessed in prior springs. so i think, to answer your question at the end of the month, we will rebalance the etf and we'll see what we do with the home builders. but they're certainly not what i like to call the green light scenario. there's certainly a yellow light. >> you raise an interesting point in that this backup in rates comes at a really interesting time for you personally, be because you're going to have to do your rebalance in the face of what has been a changing story that could change the momentum and already has in the market. you may be looking at things differently today than you were just three, four weeks ago as you approach your rebalance. >> momentum has appeared to roll over in the last several weeks. it really reached a crescendo in the last week of march, and there's areas of the market that were exhibiting very strong momentum that have had a
challenging the spositive momentum and the home builder survey and housing starts are suggesting that you're beginning to see weakening in demand. the spring season is not suggesting that it's going to be as strong as we witnessed in prior springs. so i think, to answer your question at the end of the month, we will rebalance the etf and we'll see what we do with the home builders. but they're certainly not what i like to call the green light scenario. there's certainly a yellow light. >>...
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. >> mike johnson holding a conference with house republicans to layout the measures to fund israel and ukraine and taiwan. johnson is bouncing threats from the party members against pressure to provide more support to israel. >>> shares of livenation are tumbling after the anti-trust lawsuit is filed. it is expected to allege it used its dominance to under mine the competition. >>> boeing is pushing back on the whistleblowers over the safety of the planes of 777 and the dreamliner. it could eventually break apart mid flight. during the media briefing, two executives described how the panels are fitted together. suggesting the composite skin is nearly impervious to the metal fatigue. the former boeing engineer is expected to testify at a hearing tomorrow. the shares are flat. frank. >>> pippa, thank you very much. time for the big money movers and kristina partsinevelos also has those back at hq. >> good morning. tesla is lower this morning. the ev maker is laying off 10% of the work force as it prepares for the next phase of growth. it is a way to reduce costs and increase productivity
. >> mike johnson holding a conference with house republicans to layout the measures to fund israel and ukraine and taiwan. johnson is bouncing threats from the party members against pressure to provide more support to israel. >>> shares of livenation are tumbling after the anti-trust lawsuit is filed. it is expected to allege it used its dominance to under mine the competition. >>> boeing is pushing back on the whistleblowers over the safety of the planes of 777 and the...
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the housing market remains relatively robust despite higher mortgage rates. in some sense there's no real call for the fed to lower interest rates. at the same time, there has yet to be enough improvement on inflation to warrant lower interest rates. and a lot of that really does come down to -- you and your colleagues reported on this -- the core measure of inflation and the stickiness of shelter prices in particular. i think unless or until we get improvement on that, we're in an era of -- higher rates for longer. i do think by the time we get into the latter half of the year, enough improvement in core in place to allow the fed to cut once by 25 bases point. they priced in six rate cuts this calendar year and there isn't enough time left for six rate cuts almost. >> guys, it's so interesting what we're seeing happening while chair powell was speaking. you see this big crater about 130. and then a little after 2 your seeing a spike now in the dow. it's up at this point in the green more than half a percent. the interesting thing is when chair powell says, l
the housing market remains relatively robust despite higher mortgage rates. in some sense there's no real call for the fed to lower interest rates. at the same time, there has yet to be enough improvement on inflation to warrant lower interest rates. and a lot of that really does come down to -- you and your colleagues reported on this -- the core measure of inflation and the stickiness of shelter prices in particular. i think unless or until we get improvement on that, we're in an era of --...
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still lowering the cost of things coming to your house. beginning to see an inflection in europe because of prime video which is extraordinary. turns out that's a way to be able to get europeans. europe is very, very important. david, there is a surge in amazon web services where, remember, they were down, down, down. then it's no longer -- >> we say down, down, down, the growth rate was coming down. >> they don't talk about it much, but it's good. i think the work they're doing with nvidia is extraordinary. >> explain what you mean when you say that. >> they are the biggest adopter of the new chips which are gigantic. the super computers, amazon, adam sal lipsky who runs aws said -- [ bell ringi ]. >> the big board, half nia at the nasdaq, the u.n. general assembly ahead of the u.n. sustainability group. >> kind of interesting to chart amazon versus apple in the last, say, six months because 165.67 would take you back to the october low. >> apple is a little exhausting. what we're getting is stories saying the service revenue, the app sto
still lowering the cost of things coming to your house. beginning to see an inflection in europe because of prime video which is extraordinary. turns out that's a way to be able to get europeans. europe is very, very important. david, there is a surge in amazon web services where, remember, they were down, down, down. then it's no longer -- >> we say down, down, down, the growth rate was coming down. >> they don't talk about it much, but it's good. i think the work they're doing...
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-- or the white house, regulation is going to change. so, when i put it all together, i think prices are going higher, but i don't feel real bullish about it. >> it sounded like, though, that if the three priced in rate cuts go away, that you become less bullish. >> no, actually -- no. i'm -- guy said something that i don't quite agree with. what we've been seeing is, as rates go higher, that's actually good for the market. because the status quo stays, right? if the status quo stays, growth is good, that's good for growth. that's good for momentum. and it's good for large cap. we start to see rates go lower, well, what works? things that are out of favor. utilities, small caps, more levered companies. so, in actuality, right, why did we -- why did the equity market rally when we went from seven cuts to three cuts? because the status quo stayed. if we start to lower rates, the fed gets more aggressive, then you can start to see the rotation and large caps, to dan's point, large caps start to go sideways, not up. >> totally get that. here
-- or the white house, regulation is going to change. so, when i put it all together, i think prices are going higher, but i don't feel real bullish about it. >> it sounded like, though, that if the three priced in rate cuts go away, that you become less bullish. >> no, actually -- no. i'm -- guy said something that i don't quite agree with. what we've been seeing is, as rates go higher, that's actually good for the market. because the status quo stays, right? if the status quo...
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and part of that is building the custom in-house chips. >> perfect setup for us. dee, appreciate that. we'll get to kate rooney in a moment. let's trade this. do you know what the best performing is, joet? >> alphabet. >> alphabet. and by a mile. >> alphabet. >> 16% over the last month. >> look, i began the show talking about the a.i. underperformance from nvidia and other names, but what has been remarkable, and i think it speaks to the resiliency and the need to look past a 20 basis point rise or a rise in crude oil and the strength of earnings, it speaks to the resilience where you have the ability when one area of mega companies underperforms, hear comes alphabet, meta leading the charge higher. i fail to believe we are at an inflection point in a market when even if it is nvidia and the semis that will struggle, you have the other names making new highs. that has never been -- that has never been indicative of an environment you have a dramatic inflection point and markets roll over. >> josh, the stock price action doesn't match what the narrative has turned
and part of that is building the custom in-house chips. >> perfect setup for us. dee, appreciate that. we'll get to kate rooney in a moment. let's trade this. do you know what the best performing is, joet? >> alphabet. >> alphabet. and by a mile. >> alphabet. >> 16% over the last month. >> look, i began the show talking about the a.i. underperformance from nvidia and other names, but what has been remarkable, and i think it speaks to the resiliency and the...
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Apr 16, 2024
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i think it's mixed with housing data was light, retail was strong, it's like the weather. 80 and then it's going to be 50. >> just make up your mind right? >> so we are getting some inconsistent data but i don't think it's enough to make them start hiking rates. what were these guys, at seven cuts at the beginning of the year which we thought was, equity guys thought was a little ridiculous? maybe if we get a run of hot people freak out but the economy is still okay. >> i feel the fed is not changing like the weather. and now we are trying to figure out what that's going to mean for stocks. >> earnings so far we have 200 and the next 10 earning sessions. there's a lot in front of us. we've got the financials mostly behind us and a big next couple of weeks but i have not seen what i would call a bellwether. the outlook is being reduced materially. we will see if we get that but so far i think that earnings season has been okay. >> we were due for a correction right? >> yeah, you can get little entrenchment's. people worry about less accommodation. i think the dream of accommodation wil
i think it's mixed with housing data was light, retail was strong, it's like the weather. 80 and then it's going to be 50. >> just make up your mind right? >> so we are getting some inconsistent data but i don't think it's enough to make them start hiking rates. what were these guys, at seven cuts at the beginning of the year which we thought was, equity guys thought was a little ridiculous? maybe if we get a run of hot people freak out but the economy is still okay. >> i feel...
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Apr 9, 2024
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maybe you are making that call based on your own personal view or the house call over there that you think we are going to get three cuts. of course you would think that maybe the small caps when i perform at their areas of the market, but i have heard people more definitive and say until you get an actual rate cut, you can't trust the move in the russell in the small caps and mid caps, for all of the obvious reasons that everyone always just. >> i think, our view is that small caps will outperform this year. obviously our view is that we will also get rate cuts this year. there have been other positive factors in light of recovery in economy and gdp growth being other than expected, market broadening, key indicators reflecting. that is an environment where small caps usually do well. usually small caps outperforming the fittest on hiking, as well as after the first cut. i think, i agree with investors that at this point all eyes are on the fed, and ending the hiking cycle may not be enough giving refinancing risk, the fact that 40% of debt for small- cap is floating. i think outperf
maybe you are making that call based on your own personal view or the house call over there that you think we are going to get three cuts. of course you would think that maybe the small caps when i perform at their areas of the market, but i have heard people more definitive and say until you get an actual rate cut, you can't trust the move in the russell in the small caps and mid caps, for all of the obvious reasons that everyone always just. >> i think, our view is that small caps will...
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but the expectation is that we had a clarification from the white house yesterday in terms of really just restating what they've said, which is that they've had the health and human services agency recommend the fda through a very long report with the fda with a lot of medical proof that they think cannabis should be rescheduled. so, those are the things that i think there can be reasonable expectations on, even in a world where there's a political cycle, if they don't get it done in the next few months, it probably gets lost in the biden administration's need to focus on everything else. there's a view that this is an important issue for biden, and there's an issue that this is something that really isn't that big of a give on the other side, but again, this is biden's ability to probably control this. i think overall, though, i sat on, you know, the global economy of cannabis, where we just had big news out of germany, there's certainly expectations, there's a number of the american producers that have exposure in that part of the world, so, i think an industry that has not a ton o
but the expectation is that we had a clarification from the white house yesterday in terms of really just restating what they've said, which is that they've had the health and human services agency recommend the fda through a very long report with the fda with a lot of medical proof that they think cannabis should be rescheduled. so, those are the things that i think there can be reasonable expectations on, even in a world where there's a political cycle, if they don't get it done in the next...
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Apr 15, 2024
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. >> some of the really serious criticism that has been aimed at israel from the white house right now about the war in gaza. how do you see the next 72 hours playing out? >> i hope that the israelis will find a way to let some time pass and respond in a less publicly discernibly manner. it does not look like they will do that. there is a strong feeling that they do not want a major war. hopefully the threat to the north is the same way. gaza is still a festering sore. the israelis have lost the information war. they have caused catastrophic damage. most of them are out of gaza now. they had 60,000 idf troops in there. they are down to 5000 now. they are actually backing out. who is next, when the fighting stops, where is the peacekeeping force that will be in gaza? >> you mentioned at the beginning, that there has been a change in this war by proxy. just curious, can iran and israel go back to the covert operations that were aimed at each other in ways that can be excused? israel has not claimed responsibility for what happened on april 1st in syria with the general there. does israel
. >> some of the really serious criticism that has been aimed at israel from the white house right now about the war in gaza. how do you see the next 72 hours playing out? >> i hope that the israelis will find a way to let some time pass and respond in a less publicly discernibly manner. it does not look like they will do that. there is a strong feeling that they do not want a major war. hopefully the threat to the north is the same way. gaza is still a festering sore. the israelis...
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Apr 15, 2024
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. >> but he has to really win over, i think, win over the wealth management side of the house. he's an investment banker through and through, strong record over a decade leading that business. his whole career has been at morgan stanley. he was born to become ceo of morgan stanley. but the side that needs his attention is the wealth management side because that's going to drive the stock price more than anything else. also, goldman sachs has set up tough comps for morgan stanley, so will morgan stanley keep up with goldman sachs? >> okay. what about bank of america? >> bank of america is a lower risk, long-term play. i would say the three cs apply to bank of america, first capital markets are picking up for the industry and you should see that at bank of america, second credit quality is so much stronger than i or anybody thought at this stage, and bank of america had the lowest losses in the fed stress test and that should look good. the third c, the consumer. bank of america is a play on the u.s. consumer which is remarkably resilient. >> another look at retail, it tells that
. >> but he has to really win over, i think, win over the wealth management side of the house. he's an investment banker through and through, strong record over a decade leading that business. his whole career has been at morgan stanley. he was born to become ceo of morgan stanley. but the side that needs his attention is the wealth management side because that's going to drive the stock price more than anything else. also, goldman sachs has set up tough comps for morgan stanley, so will...
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Apr 10, 2024
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likely added about 10 million people from immigration over the last three years pushing up the cost of housing and again, also pushes down wages. transportation services like motor vehicle repair won't go down that much, tough to find new workers in that line of work, but you can join costco and save 15% on services up to $500. i have no idea how motor vehicle insurance can go straight up jumping 2.6% in the month of march? is it something the government should look into as it's so off the mark from everything else. does the labor department include numbers from a firm that counts 105 u.s. members like costco does? i'd get a free quote from the connect program which is a sub subsidiary of american family. they aren't going to give me the baton for the consumer price index. bottom line, $3 million were lost today under the assumption inflation is way hotter than we thought and considering the companies involved and the prices they charge, i think that may not be true. these headline cpi numbers do not reflect reality as i see it. let's just hope chief powell agrees with me and not with them. le
likely added about 10 million people from immigration over the last three years pushing up the cost of housing and again, also pushes down wages. transportation services like motor vehicle repair won't go down that much, tough to find new workers in that line of work, but you can join costco and save 15% on services up to $500. i have no idea how motor vehicle insurance can go straight up jumping 2.6% in the month of march? is it something the government should look into as it's so off the mark...
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Apr 10, 2024
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. >> still ahead a homebuilder housing stocks under pressure. facing one of its worst days of the year. we will break down what is driving up rates obviously having an attack to there. we are backs after this break. with tailored education. get an expanding library filled with new online videos, webcasts, articles, courses, and more - all crafted just for traders. and with guided learning paths stacked with content curated to fit your unique goals, you can spend less time searching and more time learning. trade brilliantly with schwab. encore energy, america's clean energy company, now in production in south texas. energizing america with reliable and affordable uranium for nuclear energy fuel from our environmentally friendly extraction process. encore energy. when you need to prepare for unpredictable adventures... (gasp) you need weathertech. [hot dog splat.] laser measured floorliners front and rear. [drink slurp and splat.] (scream) seat protector to save the seats. [honk!] they're all yours! we're here! hey, i knew you were comin'... so i
. >> still ahead a homebuilder housing stocks under pressure. facing one of its worst days of the year. we will break down what is driving up rates obviously having an attack to there. we are backs after this break. with tailored education. get an expanding library filled with new online videos, webcasts, articles, courses, and more - all crafted just for traders. and with guided learning paths stacked with content curated to fit your unique goals, you can spend less time searching and...
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Apr 12, 2024
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appliances could be related to a weak housing market. electronics could be related to just some deflation on televisions and that kind of stuff. despite higher overall inflation, goods inflation, you see here, has been flat to negative eight of the past 12 months. you may have missed this when you were blinded perhaps by the shining light of higher inflation numbers, but the goods part has been flat or negative. consumers were looking for value. there is a competitive market out there, says the nrf, bristling at the idea of price gouging going on by retailers. this could mean something to think about. possible margin pressure depending on what is happening with the input costs and the labor costs. we get a piece of the input costs today, import prices at 8:30 this morning. yesterday's wholesale price suggested modest price pressure for the import costs. this is the six-month anniversary of our nrf index. here is how it looks to the census data. it looks a bit more stable. we don't have to revise this data, because we're using real data o
appliances could be related to a weak housing market. electronics could be related to just some deflation on televisions and that kind of stuff. despite higher overall inflation, goods inflation, you see here, has been flat to negative eight of the past 12 months. you may have missed this when you were blinded perhaps by the shining light of higher inflation numbers, but the goods part has been flat or negative. consumers were looking for value. there is a competitive market out there, says the...
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Apr 12, 2024
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., japan and the philippines met and announced new security and economic ties at a white house summit. >>> a houston hospital has stopped its kidney transplant programs after it was discovered a doctor allegedly manipulated patient records to make some of them ineligible for transplants. the department of health and human services says it is investigating. >>> and a golden tea cup worth $68,000 was stolen from a tokyo department store. it was taken from an exhibition event. police say the suspect planned and carried out the crime with the event in mind. he has yet to be found or the tea cup made of 24 carat gold. >> bertha, appreciate that. our senior markets commentator mike santoli with his "midday word." i'm sure there's a lot on your mind. >> it's at least relevant in the short term, the lows of the day have been the same spot. it goes back to last thursday as low as well. the market was trying to make a bid to contains things. it seems looser than that right now. it's tough to really tease out what we should extrapolate. you have the risk-off tone. the fed, i do think investors w
., japan and the philippines met and announced new security and economic ties at a white house summit. >>> a houston hospital has stopped its kidney transplant programs after it was discovered a doctor allegedly manipulated patient records to make some of them ineligible for transplants. the department of health and human services says it is investigating. >>> and a golden tea cup worth $68,000 was stolen from a tokyo department store. it was taken from an exhibition event....