Country seems to be fueling some kind of negative sentiment worldwide. Tom i agreed to start there for the western world. Its not just about china. There disinflation, we dont need a bunch of charts this early in the morning but the vector of deflation and disinflation in china from the beginning of covid and they did covid differently than we did but im sorry, its disinflationary and get you down to a run rate of a positive 1 even with the present deflation and thats not good enough. Jonathan at the same time, the western developed markets are finding inflation and we had deflation in china and people are asking, we are in it now so how long will it last . Lisa and is this the bottom . It could have a more inflationary time later on. How much does china matter as a disinflationary force for the rest of the world at a time were places like the u. S. Are moving away from importing some of their goods and the eu is trying to be more aggressive with lyft service. And we have budget defici
The s p 500 negative by 0. 1 . 16 positive weeks out of 18 for the First Time Since 1971. A long run to friday. We have a double dose of chairman powell, state of the union from the president and a payroll support. Lisa which is the most important aspect for these because its a blockbuster week across the Monetary Policy and economic activity. Ultimately it has to come down to the jobs report, ultimately its can it come down to whether the economy continues to grow at the case people expect. Weather february confirms january. If it does we had a big repricing, what is that mean for the fed and this market . The Market Pricing out only a 25 basis point rate cut or less than that by june for the First Time Since october. We have not seen this type of lack of rate cuts being priced in since going back to late last year. Markets arent really alarmed about that. Maybe people think they are just pushing it back. They are not deferring them indefinitely. Jonathan we begin another week at reco
One stock that did not snap the streak was tesla. On the month, down by close to 20 . Down by more than 40 today. Lisa it has been kicked out of the magnificent seven. We have a company that is fighting a sentiment wave as well as the very real wave of competition in china during a fraught market for the electric a fraught moment for the electric vehicle market. Jonathan product release, competition in china, we are trying to figure this out. What is the tesla problem and what is just the broader industry problem right now . Annemarie you are seeing this ev demand around the world especially in china. You do see China National companies doing very well. The issue seems to be in other places especially in the United States. When it comes to tesla, the problems continue. Overnight we have an exclusive story about the newly formed Marketing Team part of those companywide layoffs. This was supposed to be to get the message out in advertising. When you saw the Inflation Reduction Act and ta
We are looking at industrial metals, the first down day in nine sessions. The emerging markets index climbed for the highest and about three weeks. Euro strengthening against the u. S. Dollar despite the likely passage of the tax reform plan. Gold gaining. 1 . David lets find out whats going on outside the Business World and for that we turn to emma chandra. Emma today, Congress Begins the final step toward the biggest inrite of u. S. Tax laws three decades. House republicans are expected to easily pass the tax bill and the senate is likely to follow later today or tomorrow. The measure permanently slashes the top rate of tax for business to 20 1 . O 31 35 in washington state, federal investigators say an amtrak train was speeding before a fatal the realm and. According to the data, it was going 80 Miles Per Hour in a 30 mile per hour zone. At least 30 people three people were killed and several others treated at the hospital. The train was making its first run along a new route. A tou
We will talk to the man himself, jeff currie, later on this hour. I want to talk about what is happening in the u. K. , take a look at sterling. Marcel barnier says a brexit transition is not a given if a decent agreement if a disagreement persists. David he says never mind. Now lets turn to our top two stories. Jeffrey gun lock is right all along, the the 10year yield. L on the 10 year and keeping the government open. Lisa joining us is abramowicz of bloomberg you have the 200day moving average with the s p starting to flirt with that 200day, and that goes to be correction we have not seen in a while. We bounced off the 200day twice in 2016. Luc, have we found the bottom . I am not sure yet. Lets check out another chart. We were talking about early in january, world equity index euphoria, right now, looking at my terminal, s p 500 members are overbought. 0. 4 . The shares oversold up to about 1 3. It might be good news of a contrarian indicator, but around these time, the chinese deva