this is business today, live from new york where markets climb as a slight drop in consumer inflation figures raise hopes of interest rate cuts. consumers losing their apetite. us retail sales flatline in april instead of an expected increase. boeing could face prosecution in the us for two deadly crashes involving its 737 max aircraft. welcome to business today. i'm erin delmore in new york where markets have just opened higher on the latest inflation data out this morning. the consumer price index showed inflation cooling slightly in april, coming in at 0.3% month over month, a tenth lower than the we saw in march. that translates to an annual figure of 3.4%.

any news of prices falling — increases the hopes from investors that the fed will start cutting the main interest rate, sooner rather than later. joining me now is wei li, global chief investment strategist at blackrock. thank you for being here. what impact is this having on the markets this morning? this is a welcome relief. we are seeing some information as expected. part of the inflation is cooling down a little bit coming from very elevated levels earlier in the year. also encouraging the core goods inflation it is actually negative which again is a welcome release and has been driven by mismatch unwinding. iwas

has been driven by mismatch unwinding. i wasjust has been driven by mismatch unwinding. i was just looking at market pricing for 2024, it was at 1.6 and after this inflation went out for 2024 and just for context, at the beginning of the year market pricing had cut because of higher than expected inflation prices. with a more positive inflation than the stock market as well. this is also why this is happening at this point. we heard from fed chairjay powell yesterday — saying it's about time for rent and house prices to cool. how does that impact the fed's decision—making on rate cuts?

i think the feds do not know more than markets in terms of where the market data is heading stop they are extremely data dependent as they should be. ithink extremely data dependent as they should be. i think the latest is softer information as per expectation is going to allow them to keep the rate cuts on the table. we think that two cats for this year is likely and this softer inflation keeps september in play. when it comes inflation there has been sequential relief, but inflation is still allocated at this level. it is currently not on track to settle. at this rate, this core service inflation levels, is circulating closer to three or around two. we

still really have to think about inflation protecting our long—term... we have to protect our portfolios for a high rate for longer. portfolios for a high rate for loner. . ~' ,, , portfolios for a high rate for loner. . ~ ,, , . staying with us economic data, a separate report from the commerce department showed us retail sales were flat month—on—month in april, compared with an expected 0.4% increase. higher gasoline prices pulled spending away from other goods, indicating that consumerspending was losing momentum. joining me now is nela richardson, chief economist at adp. nela, consumers have been facing a lot of pressure from elevated inflation to the highest interest rates we've seen in decades. what have we learned from today's data? what we have learned is that consumers are still holding the line on prices. it is more modest than we

have seen or expected. that has really been the mystery of the us consumer economy. they have been so resilient and the reason they have been resilient is that they are supported by a very strong and healthy us labour market. is supported by a very strong and healthy us labour market. is there a difference between _ healthy us labour market. is there a difference between how— healthy us labour market. is there a difference between how we - healthy us labour market. is there a difference between how we are - healthy us labour market. is there a i difference between how we are seeing higher income as spends and lower income consumers spend? it we higher income as spends and lower income consumers spend? if we look at it from a — income consumers spend? if we look at it from a macro _ income consumers spend? if we look at it from a macro sense, _ income consumers spend? if we look at it from a macro sense, there - income consumers spend? if we look at it from a macro sense, there is - income consumers spend? if we look at it from a macro sense, there is a l at it from a macro sense, there is a proportion of disposable income, lower than they were pre—pandemic and lower than the historical average. people at the high end have been boosted by level records of stock and higher than average wages. put those two things together and you have a higher consumer that is able to consume and spend where the

economy is going now. in services and away from goods. that is what you are seeing in today's report. restaurants, all the things that we were denied during the pandemic. high end consumers can really enjoy that. high end consumers can really enjoy that. we saw some data out friday form the university of michgan showing that consumer sentiment is at a six month low. there is a discrepancy here, people say how they feel, and people say they spend. say how they feel, and people say they spend-— say how they feel, and people say the send. , , . , ., they spend. these price levels have really impacted. — they spend. these price levels have really impacted, especially - they spend. these price levels have really impacted, especially at - they spend. these price levels have really impacted, especially at low i really impacted, especially at low income consumers. nobody likes to see prices higher than what they were spending a year ago. consumers are responding to that. there was a methodological shift, sentiment numbers this month, they went from telephone interviews to online interviews. we don't know exactly

how that shift is going to change consumer sentiments. this month is a little abnormal when you are thinking about that big drop. 0verall consumers have been downbeat that they are still spending in the us economy. that they are still spending in the us economy-— that they are still spending in the us econom . ., ~' ,, , . thank you very much. back to ben in the studio. those reports from slovakia that have been coming in in the last few minutes. there has been shooting of the prime minister of slovakia. this was a shooting after a government thing outside the capital bratislava. we have reports that there were four shots fired at least —— at least one of those shots hit him in the

abdomen. police are said to have detained a man after the incident. there was a government meeting outside bratislava and the shooting happened and a man has been detained. we are told that the prime minister was then put into a vehicle and driven to hospital. there isn't yet any word on his condition but politicians in slovakia, including the president, have expressed their shock at this brutal shooting of the prime minister. he has been prime ministerfor about ten prime minister. he has been prime minister for about ten years, in various different periods. most recently he has one or an election in which he campaigned against giving weapons and military aid to ukraine. these are stills of the aftermath of that shooting. we can

see that the scene and the car in which i think the prime minister, the injured prime minister, was put there, there seem to be bodyguards around that car. he was then taken to hospital, you can see that the scene where that shooting took place. how information is, these are unconfirmed reports at the moment, that's four shots were fired in the abdomen. let's go to our correspondent in prague. he has been monitoring developments for us. what can you tell us about what has happened?— can you tell us about what has ha--ened? , �* ., . happened? there isn't that much information _ happened? there isn't that much information yet _ happened? there isn't that much information yet other _ happened? there isn't that much information yet other than - happened? there isn't that much information yet other than what l happened? there isn't that much i information yet other than what has appeared on the wires and in the slovakian media. in the centre of slovakia, he was emerging from the building where that government meeting was taking place. he was

meeting was taking place. he was meeting crowds and four shots rang out, we are told that one of them struck him and he then fell to the floor. he was picked up immediately by one of his guards and put into a vehicle and taken to hospital. he was taken to one of the largest cities in the near vicinity. any information about his condition and how badly heck he has been injured, we do not know. how badly heck he has been in'ured, we do not knowfi how badly heck he has been in'ured, we do not know. thank you, rob. just to reca, we do not know. thank you, rob. just to recap. let's — we do not know. thank you, rob. just to recap. let's give — we do not know. thank you, rob. just to recap, let's give you _ we do not know. thank you, rob. just to recap, let's give you the _ to recap, let's give you the details. this was a meeting outside bratislava. it was a government meeting and a number of shots were fired according to reports for mac shots were fired. they shots were in the abdomen and we can see the shots

of the aftermath. a man has been detained, the prime minister was apparently hit in the abdomen and then put in a car and taken by his bodyguards and his advisers to hospital there is no clear indication yet of his condition, but clearly he has been shot and is being treated for those injuries that he has sustained. a bit of background about the prime minister... as i mentioned over various periods of time, he has been in power as prime ministerfor a total of ten years. most controversially perhaps, he is known for his position on russia and ukraine, he has talked about the eu sanctions against russia as being senseless and a threat to the slovak economy. he did condemn the invasion

of ukraine in 2022 but has also been critical of sanctions against russia saying that they only harm the population rather than the regime. there have been some tensions between him and the european union. he is a man who is a huge figure in slovak politics. he has been a dominant political verdict figure, at various different times. whether this was a clear assassination attempt, we don't yet know. we don't have many details on who the man who has been detained is or what the motivations for this attack are. we do know is that the prime minister of slovakia has been shot and injured in this attack. he holds the

record, robert fico, as the longest serving prime minister in slovakia. he was first elected to parliament in 1992, then promoted to the council of europe and then he has been prime minister a number of different times. a controversial figure, a colourfulfigure, he uses pretty colourful and direct language. he has courted controversy sometimes, and his position on the war in ukraine has caused quite a lot of controversy as well. these are pictures of the aftermath of the shooting. it is not quite clear who thatis shooting. it is not quite clear who that is on the ground, whether that is the man who was detained or indeed the prime minister. it looks like the part that the prime minister was then put into, bundled into by his bodyguards, they obviously looked very concerned.

people are running around the scene there in the aftermath of that shooting stop let's just bring you the latest lines that are coming into us on this as well. some reaction to that shooting. even nini reaction to that shooting. even mini and prime minister says he is profoundly shocked by the news of the shooting. he says the perpetrators must be held accountable. the european unions representative has says that the eu strongly condemns the violence attacked on the prime minister of slovakia. we are just now hearing that the slovakian prime minister is being transported to the capital for more treatment. that is according to the hospital director. the polish prime minister has said that the news from slovakia is shocking that

his thoughts are the prime minister. the polish prime minister has put that on twitter. and as i mentioned, the european union commissioner saying that this was a violent act on the slovak prime minister. the eu and the slovakian prime minister, as i have mentioned, especially on the issue of ukraine and russia have their differences. but she is calling it a violent act. we don't know the results in terms of his physical condition, we are hearing that he has been transferred from the hospital where he was first taken, to a hospital in bratislava. we saw those pictures of him being put into a car, the prime ministerial car, and driven away at high speed, one presumes for that

injury to be treated.