Good afternoon, everyone, im charles payne. Im back in new york. This is making money. Breaking right now investors breathing a sigh of relief after this mornings cpi report. The market is rangebound between a major breakout point and critical support. Questions remain about the health of the economy. Where recession is. Talk of another inflation spike. Bottom line, none of that is out of the equation yet. On main street the big question when will Campbell Soup prices stop going up . Here is comes, folks, gasoline prices that might be the thing that upends the Household Budgets and the president ial election. Chinas economic boom has become a bust. Sew what does this mean . Could we see deflation imported to america . Plus the slow dismantling of esg which has been and investing disaster, poised also to become a manmade disaster if something isnt done. My take on that later in the show. In fact all that and so much more on making money. Charles all right, so you saw when the number hit
Thank you so much, sir, appreciate it. Good afternoon, everyone. Im Ashley Webster in for liz claman. Were seeing green across the screen. All the major indexes moving higher as you can see, but we are off session highs. And when you look at the intraday chart, you can see that all three indices spiking up right around 1 p. M. There you go, you can see that moving on up less than an hour after House Republicans voted in a closed door meeting to elect republican majority whip tom emmer as their nominee for speaker of the house. Now, the nomination has a long way to go though, he needs the votes. And well start with a vote on the house floor. Fox news senior Congressional Correspondent chad pergram is live on capitol hill this afternoon. Chad, whats the timetable from here . Reporter well, theres no timetable right now because tom emmer is in this room right behind me listening to his opponents. He won this race against mike johnson, got 117 votes, mike johnson 97, but that is a far cry
Chat box while google teases new ai. Inflation data year on you 2. 4. Thank you to weinstein for the great interview. Its because the revision is so steep. Up. 2. I never want to challenge numbers. People work hard to do them. When you have that kind of revision, its not what you get at amazon or sales force. Meaning what . Theyre not using enough who would come up with a product that could be that wrong. Do you have any product in your life that could be that wrong . Its all survey based. Other Companies Know how to do surveys. Theres too much on the line. You believe as a result what, that you cant believe the current numbers . No, i cant. Im saying that the bond market is indicating the stuff doesnt matter. I dont ever want to Say Something doesnt matter. The only numbers people base policy off of is pce. The unemployment number at the beginning of the month. When i look at these numbers, what are they worth . How could you be so wrong . Thats a gigantic delta. My take is people are
Yesterday to reauthorize federal aviation programs and would enact safety protections for passengers the Senate Passed a shortterm extension to prevent the current bill from lapsing later today and the house will take up the full legislation the house is expected to vote on it next week. We are learning more about the probe by the s. E. C. Into boeing reviewing statements over the Safety Practices after a panel blew off the alaska air flight back in january. We talked a lot about it investigators focused on the comments made by the Company Executives may have misled investors in violation of s. E. C. Rules. We will hear headlines about this for some time. In fed speak, San Francisco fed president mary daly said Interest Rates are currently restraining the economy, but it may take more time to return inflation to the Central Banks goals. It sounds like higher for longer pitch. It echos remarks from the fed chair jay powell last month where daly said the uptick in price data shows you ca
Nasdaq indicated up by 1. 2 for the week to date for what we have seen. Look at the treasury market. You see treasuries here with 10year treasury at 2. 3 . Wti climbing above 90 a barrel. Right now, 90. 43. Of course, we have seen big news in other places. New overnight, positive data on china recovery overnight. Retail sales raising 4. 6 in august. The Unemployment Rate ticking down by. 10 . Chinas Central Bank Cut a shortterm lending rate one day after it lowered the reserves the commercial banks need to hold against deposits. That will free up funding to lend to houses and businesses sdpbusinesses. Im happy we have this guy around. Phil lebeau. It he iis interesting, the phil. You are in detroit. I saw you talking to one of the guys earlier. This is very interesting today. Especially where we have you perched. Reporter joe, it will be interesting to see how long the strike goes. Maybe a week or two weeks or looking at something extended out over seven or eight weeks. That remains to