craig melvin: that's all for this edition of dateline. i'm craig melvin. thank you for watching. ♪ good morning and welcome to "street signs. i'm carolin roth and these are your headlines. minneapolis fed president neel kashkari telling cnbc exclusively that the federal reserve cannot rule out future hikes with inflation stubbornly above saying more positive day is needed before rates come down >> we had very strong growth u.s. con p assumesumers remaine

resilient. i'm not seeing a need to give a rate cut we need to get it right. u.s. futures are pointing higher as investors look ahead to friday's all-important pce print. israel announcing an investigation into the strike that killed dozens of civilians in the camp in rafah with prime minister benjamin netanyahu blaming a technical failure. >> translator: despite our utmost effort not to harm residents, a tragedy occurred yesterday. we are investigating a case. we will draw conclusions because this is our policy. and 120 business leaders, including senior figures from jpmorgan chase and aston martin back the labour party ahead of the july's general election. good morning, everyone

so glad you are with us today. we have a packed show for you today. let's get things rolling minneapolis fed president neel kashkari on the record telling cnbc in the past half hour that nothing is off the table with monetary policy. not even a rate hike he says inflation appears to be going in the right direction, but that he needs many more months of good data in order to feel comfortable enough loosening monetary policy. take a listen to some of that conversation. >> i don't think we should rule anything out at this point we are all committed to getting inflation all the way back down to our 2% target the most recent inflation print we got on the cpi data was marginally better than the earlier prints from the first three months s still not where we needed to get to it's not worse right now, we're in a good position because the labor market remains strong in the u.s. we have the luxury of being able to sit here until we gain c

conf confidence >> we are seeing a body of water to your commentary and the market expectations. what will it take in your view to get to one to two rate cuts this year. >> many more months of positive inflation data until it is appropriate to dial back the u.s. economy has remained remarkably resilient gdp is strong. most people thought we would be in a recession toward the end of last year. that didn't happen consumers remained resilient the housing market is resilient. i'm not in a hurry to do rate cuts i think we should take our time and get it right >> neel, interest rates have not worked as effectively in the past does that worry you at all that maybe we need to give the fed more tools or the fed needs to do more in the future in order to get inflation back down to whatever target it may be, of

course, currently 2% >> i'm confident we have the tools to get inflation back down what is interesting to me is the reopening of the economy raised the neutral rate the policy stance that is the minimum level that we need to get to where we are not stimulating or restraining the committee. if the kneutral rate is going up higher, we need to get inflation back down to 2%. so, i think we need to take more time to assess where the economy is headed. >> do you think a lot of that is hampered by how much government spending has been put into the reopening of the economy >> it is one of the factors that contributed to the high inflation. i think bigger factors are on the supply side with the services sector closed during covid and ukraine and ply chains gummed up. a lot of the supply chains

sorted themselves out. will we get back down to 2% or does monetary policy do the rest of the work? >> i was listening to a speech you gave i was looking through the same data points. what jumped out to me is how bumpy they are flat in april after the prior increase bumpy on that met particular on the housing starts, we get the fall and rising again. on the pce we have a flat level and we go back up. how difficult is it to read the data and do you want to see sort of an extension when it comes to pce of the lower rate and for longer to give you the confidence >> absolutely. the data is applimixed the. the models we rely on did not forecast the inflation or disinflation we are looking at the data and

that's why given all of the mixed signals we are getting and for me, looking at the inflation data, although it is backward looking, that's where we have to spend our effort because of the signals being mixed. >> what number makes you feel more comfortable sub 2.5% >> we have to look at both sides. we have inflation and labor market we have to get inflation all the way back down to the 2% level. if the labor markets show signs of material weakening, that will influence how i trade off those two sides of the mandate right now, with the labor market with the 3.9% unemployment rate, for me, we have to be be focused on where inflation is. a quick check on the markets one hour into the trading session. the ftse 100 is off 0.1% that market was closed for a bank holiday yesterday a bit of a catch-up trade the cac 40 is down a bit no major corporate stories to

tell you about we are range bound until we get more data. i want to show you what u.s. futures are up to this morning dow jones industrial average is up 22 points remember, the dow saw the first down week in the last five the nasdaq closing out a record high on friday up 66 points. on to the bond markets we are seeing a lot of range-bound trade here gilts started trading at 4.21% for the ten-year bond. the german inflation numbers come in tomorrow we get the euro inflation numbers on friday. ahead of the interesting note from survey, the consumer inflation headed to 2.9% that is a slight drop from the previous month foryears, we see

them above target. similar for the fx markets we are not seeing a lot of movement here. the dollar is unchanged against the japanese yen and the euro. the big story, of course, next week is the first cut from the ecb. let's get more perspective and all things fx is ali toure from efg. thank you for taking the time. the first rate cut is baked into the cake is it going to be a one and done >> i think it shis hard to tell right now. they will present it next week as a hawkish take. just so they don't get pushed into the second half of the year they saw what happened with powell in december when he introduced the idea of bringing in cuts for 2024 and the market ran with it and priced in up to seven cuts

they will really play off a hawkish message. if the data laws, there's room for more cuts in the second half of the year from the ecb if anything, we have been encouraged by as much as it is baked in, the euro is holding up well against the dollar. they are not getting punished for being first. >> absolutely not. the euro has rebounded against the dollar with the six-month lows that we saw in april. the narrative when it comes to the euro/dollar has shifted a lot over the last couple weeks it was bearish at the saturday of start of the year. now it is the euro/dollar with the three-month target of 110. why? >> for us, it touches a lot on the worries of recession in europe and a significant slowdown in china.

as we saw through the first quarter, strong growth in the u.s. could mean they were considering a rate hike from the fed. now, we have seen from powell that the bar to a hike is fairly high and, if anything, they will hold rates longer and starting the cutting cycle sooner esc we skescaped a recession in the eurozone t in china, we are seeing enough stimulus to keep growth around 4% or 5% that, at least, leaves a rosier outlook than four or five months ago. >> we are expecting divergence with the monetary policy across the world, specifically with the eart ecb and the fed. that is the perfect setup for the fx markets for so long, there has been

little-to-no volumes will we have a busy summer and busy trading snunts. >> the data is there if growth starts to slow, you could see some big moves along divergent path s for central banks. i think it is range bound. all central banks will cut if they can, but it is clear one per quarter or as the data allows what is holding us back is having a stronger conviction is the u.s. elections in the third and fourth quarter that could keep a lot of people on the sidelines. >> that is an important point you are making there let's stay with the u.s. there because we heard from kashkari that nothing is off the table. he has always been pretty hawkish here when is the first cut going to

come is the hike ruled out? >> a hike is a high bar. real rates are high in the u.s if anything, if the -- i think to raise them further, you have to see an acceleration in inflation. we look back to the first quarter of 2023 and expectations there were for a recession and the u.s. out performed at that point, we were still considering a higher terminal rate a year later, we're in the same situation in the first quarter, but at this point, the conversation we're hearing from powell and among the fed, as much as they are concerned about inflation still, the bar to a hike is much higher than it was a year ago inflation, as stubborn and sticky as it is, is coming down slowly as robust the labor market is,

it is starting to softsoften there are risks involved we have come a long way in the last year. i think as soon as there is an opportunity just to bring the real rates down, that will be taken and it could be as soon as july more likely in september we will have a good idea in the forecast round on the is 12th of june and hearing some things from the jackson hole conference in august. >> ali, before we let you go, sentiment is bearish is that being unwound? >> i think, for us, it is as low as it could go there has been a big change in the last quarter with the swiss central bank cutting first and they are no longer actively buying the swiss franc that was a shock to the market as we're seeing a rebound in europe and energy prices stay low and in global growth can stay high, we have seen a bottom

in the swiss franc for us, we see a hold in the range. >> what is your target >> .9. >> ali, chief strategist at efg international. coming up on the show, israel condemned after striking a camp sheltering displaced palestinians in rafah. we'll have thelatest we'll be back in two es it re eay and seamless pick an order print everything you need slap the label on ito the box and it's ready to go our cost for shipping, were cut in half just like that go to shipstation/tv and get 2 months free

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an israeli air strike killed dozens of people in a camp housing hundreds of palestinians and macron is calling for a cease-fire saying there is no safe place for residents in rafah. qatar warning it may hinder cease-fire talks n in an address to the knesset,

benjamin netanyahu spoke out we have dan myurphy with the latest from dubai. >> reporter: carolin, that is right. there has been international condemnation of the deadly air strike in rafah that killed dozens of people on sunday this air strike cause aid fire which tore through the area which housed displaced people. now an israeli official told nbc news that the preliminary information indicates that fire was caused by a fuel tank that exp exploded it caused shocking damage to the camp and deadly injuries to civilians. some images circulated on social media were so disturbing, we cannot show them on television the international condemn neighbo ation has come in thick and fast

israel's barlbaric killings of civilians is a war crime he said it is a direct challenge after israel was ordered to halt the offensive in rafah here in the middle east we have seen condemnation. saudi arabia and turkey speaking out. you said earlier, french president emmanuel macron saying he was outraged. the question is what happens next the loss of more civilians puts prime minister netanyahu under intense pressure to explain what happened so far, the israelis have come forward attempting to target senior hamas figures in the broader campaign to destroy

hamas' last military campaign in the area as you say, it derails efforts to get a cease-fire done and end this conflict. we know the talks had been underway at the weekend among leaders to try to get some kind of a deal done now, as the u.s. comes online, and markets open up and as the united states reacts to the incident, we are looking out to see what president biden has to say about this as well it is unclear if the u.s. is going to respond in a material way, but as we have heard in the last 24 hours, some european countries, those countries that have not yet recognized a palestinian state are now talking about sanctioning israel unless it halt moving forward. back to you. >> dan, thank you. let's move on.

the world leaders signed a security pact with president volodymyr zelenskyy. the agreement signed in brussels pledges 36 f-16 fighter jets by 2028 spain has provided $1 billion of military support to ukraine this year and $5 billion by 2027 as part of the security deal signed by president volodymyr zelenskyy and the spanish prime minister the pact covers the next decade calling for the supply of modern military equipment to meet ukraine's needs. charlotte is joining me around the desk to discuss the story. volodymyr zelenskyy has complained interest takes too much time and now he is on a charm offensive onthe single countries? >> this trip to spain was supposed to be a couple of weeks ago. he had to delay the trip because of the renewed offensive in the northeast of the country the bilateral security agreemen

with the king of spain was there to receive him at the plane which was unusual. it was symbolic. he held a lunch for president zelenskyy. zelenskyy said this was life-saving aid at a difficult time >> translator: i'm grateful to spain that your hearts did not waiver, you helped you are saving hundreds of lives of children and women and men in ukraine. >> they did not go into details. there were some german-made leopard tanks and this comes with big support as were you saying and ukraine saying the western countries are not putting out the efforts strong enough yesterday in brussels, the ministers were meeting and they urged hungary to stop blocking

aid packages of 5.6 billion euros. tempers ran high in brussels because of that. president zelenskyy has to go through the bilateral agreement to get support from individual countries. belgium and portugal he is relying that with the concern of the 3 billion euro from frozen assets to support ukraine. they are concerned they could unpack this. this is work in the background to circumstvent there this seems to be crucial for the effort for ukraine right now. >> i'm wondering if this is going to come too late is it too little too late? we have seen support trickling through, but we need big, bold decisions here and also coming from the g7. you covered the g7 finance ministers meeting in italy last

week they have been slow to make those big, bold decisions. >> that seems to be the concern. they talk to talk, but when the g7 agrees in principle on the proceeds from the frozen assets, but they have to discuss details. it is weeks and weeks in a time of war france in the northeast and kh kharkiv has stabilized they are stretched >> charlotte, thank you. let's move on. this is a story that charlotte has been dealing with here the german chancellor and the french president is calling for more support and less bureaucracy. they said too many companies look to the u.s. to fund their growth and that europe needs to

get serious about a truly integrated financial market with the banking and capital markets union at its core. speaking on the state visit to germany, france's president emmanuel macron called to wake up to the rise of the far right ahead of the european elections. >> translator: let's look around us as the fascination forregimes look at europe some saying let's take europe's money, but never mind the judgments. let's take the money, but forget about freedom of the press let's take the money, but forget about cultural diversity let's take the money, but forget about the autonomy and academic freedom. still coming up on show, more from our exclusive conversation with minneapolis fed president neel kashkari when

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hello and welcome to "street signs. i'm carolin roth and these are your headlines minneapolis fed president neel kashkari said the u.s. cannot rule out hikes saying more positive data is needed before rates can come down. >> most people thought we would be in a recession toward the end of last year that didn't happen u.s. consumers have remained resilient. the housing market is resilires. european equities treading water, but u.s. futures are pointing higher as we look to friday's all important pce print. israel announces an investigation into the air strike that kills dozens of civilians in rafah with prime minister benjamin netanyahu blaming a technical failure. >> translator: despite our utmost effort not to harm and

involve involve residresidents, a tragi occurrence happened yesterday. and 120 leaders from jpmorgan chase and aston martin back the uk's labour party ahead of july's general election good morning, everyone if you are just tuning in, we had a fantastic interview this morning. with the european central bank expected to cut rates next week, we asked minneapolis fed president neel kashkari about the global policy and what data he is looking for in order to feel confident to lower rates back home. >> the labor market is still tight. i talked to my business partners in the middle part of the country. they say they still have to

compete to find workers. it is still a tight and robust labor market it is not crazy like it was two years ago which felt inflationary environment i expect the labor market is tied to the services sector. the services sector is still running hot. i would like to see more softening in the labor market and wage growth continuing to moderate to have confidence the services economy is going to normalize. we're not there yet. >> can i ask how you feel about words? we heard from loretta mester where she wants to see more detail markets seize upon every word and the significance of the world. do you want more detailed statements >> on the one hand, i agree with my colleague loretta mester, that words get tremendous

attention. there is not enough communication from the federal reserve to the policymakers out here giving the comments like myself i have not had a chance to read all of loretta's comments. >> the varying comments that come out of all of it, is that not confusing which sometimes can offer a divergence of opinions and views for some? >> i think as we talked about earlier, the data we are seeing is mixed right now it is hard to say where the economy is headed. yes, it is confusing, but the economy is confusing right now the confusinging communication s sorting through all of the participants or policymakers. >> you are in europe and the u.s. fed reserve president

if you don't get cutting rates soon, it has other banks looking to loosen monetary policy. do you consider those consequences for the ecb and bank of england? >> the rest of the world effects the u.s., too. we care about what happens in europe and around the world. our mandate is to the american people and set monetary policy for the u.s., just like the bank of england does for the uk and the ecb for the european cornecentra bank over time, advanced economies move toward. i'm not that worried about diffivergence in the near term. >> and michelle bowman would moderately taper the process her comments came from the bank of japan conference in tokyo this morning where her

colleague, loretta mester argued statements would provide more clarity over the economy we have mike gallagher here with us here in london on set i want to go back to kashkari's comments to be honest, we did not get anything new it was by and large nothing unexpected there is a lot of volatile data coming through are you on board with this >> i think so. really, at the moment, the fed doesn't want the market to get too excited about rate cuts. that's the message that we broadly heard and i expect to see that message on june 12th. it really is the data that's critical now i think the thing we would say is that the previous tightening that the fed did is still feeding through and that will slow the economy the idea of a robust economy is going to be more uncertain in the second half of the year.

also, if you look at the trend in terms of average earnings, they kind of suggest service inflation should come down and inflation generally should come down we should be looking at an inflation trajectory of 2.5% or below. that should be enough for the fed to cut in september. >> 25 basis points i guess the key question is at what point will we get the guidance does it happen in july does it happen in august what does it mean for trading and volatility throughout the summer >> normally the fed would like to provide some hints the meeting before there is quite a long gap, as you say. it may be jackson hole is the key and we don't start getting into september there is a situation where the markets are not too aggressive with the cuts. that's going to be a contrast with europe. >> for asset allocatallocators,a

it is the summer for re-pricing. how big is this re-pricing going to be? >> if you look at what is discounted, it is quite a slow and actually very modest easing cy cycle. you know the market is discounting one rate cut this year if you actually look over the next two years, they are discounting five rate cuts if you look at the average of the last six fed easing cycles, it has been 2% within 12 months. i'm not saying we're necessarily going to see that pace, but the market can discount more once the fed starts in september. >> it will not be a one and done i had a conversation with my previous guest with the ecb. we didn't get any guidance it might just be a one and done. how big is the divergence going to be with the rate path with the ecb and the fed?

>> i think the ecb has not got a great track record with guidance it is interesting going back to lane's comments yesterday. there he is making clear there will abe a succession of rate cuts the central governor saying we cannot rule out a july move as well as a june move. that tells you there are a number of cuts coming from the uk t ecb. they will open the door. we will get three cuts and more in 2025. >> that is not necessarily what the market is pricing in right now. the market is pricing in from the ecb this year. >> we are seeing ass shift of expectations around the next week's meeting from the ecb. that is good news for european equities >> let's stay with the equities space. you have an interesting call with the european equities against u.s. equities. can you elaborate? >> i think in the u.s. equities,

there is a lot of positive stories, but they are fully valued in terms of looking at valuations price earnings ratio or relative outlook versus bonds we think that the slowing of the economy, which we're seeing through the summer, will not benefit the u.s. equity market it will not really compel markets with more rate cuts. we will see a choppy environment. the re-rating of the ecb easing cycle should see european equities out performing in the rest of the year. >> european equities, potentially out perform equities mike, can i challenge you on the valuation argument recently, there was analysis in the ft we live in a different time. we have more growth stocks in the u.s. they warrant higher valuations what do you make of this

>> if you take away the magnificent seven, you have a highly valued u.s. equity market the problem is that if you are comparing like for like, there is a bigger valuation in the u.s. i think it is a catch-up story it's not a strategic story it say tactical asset allocation story. >> as valuations, how do earnings matter? it is a lot less rosy than the u.s. stocks. the earnings outlook propelled the u.s. markets higher. in europe, we have gotten surprises, but by and large, it is exciting. >> the earnings story will come later in europe. the reduction in interest rates will lead to higher valuations the earnings story comes later

this year and in 2025. >> can we take a look at the short-term moves here? we get a couple of inflation reads from eurozone and germany and the big one is pce the fed preferred inflation gauge. what are you expecting here? >> i think the .3 number is something that is widely expected i think the key thing that we are looking at is just the rounding the fed do go to twoplaces i think that's the way we'll see the reaction going it will take a little bit of time for disinflation pressures to kick through in the u.s it's not necessarily going to be seen in one number it is a sequence of waiting. that kind of patience is

something that short-term investors are not necessarily used to. >> are they getting better at it >> i think they are because, you know, we had a degree of frustration this year. i think if we sit back and look at the next six months, it is as i outlined. >> fantastic to get your perspective. mike gallagher quick check of u.s. futures. u.s. markets are back online today. they were closed for the memorial day holiday i hope you had a fantastic day off. the dow jones industrial average is up 31 points. remember last week, the dow saw the first down week in five. the nasdaq up by 100 points. nvidia, pre-market, is up by 3%. european markets are looking somewhat tepid this morning. the ftse 100 was closed yesterday. it has a bit of catch-up trading to do down 0 .1%.

no major corporate stories to tell you about today we are awaiting the data points. that's what is keeping trade when it comes to the bond markets on the sidelines the ten-year bund yield at 3.5%. it has been range bound for 2024 the ten-year gilt-yea yield at 4.21%. let's get back to the treasuries there you go the short end at 4.9%. the long end at 4.4% everything is data dependent as we heard a couple of times this morning. the uk labour party has won the backing of the 120 executives the economy has been beset by instability stagnation and

long-term focus. figures from jpmorgan chase and aston martin and heathrow among them one told our sister channel sky news >> i'm going to tell you in advance of the election what i don't think we can afford to do. i'm not going to tell you that you can have everything and break a promise after the election i'll level with you now. there are some things we can't afford because of the damage done to the economy. i think that is basic honesty. uk prime minister rishi sunak promised a pension cut it would create a new tax-free alliance that would align with 2.5% sunak told sky news he is the only leader with a solid plan for the country.

>> as i demonstrated with the policy on national service and investment in defense and welfare and get to soor zero i'm going to take bold action to deliver that secure fauuture. there say is a clear contrast te election there was another half-hour speech and not a single new idea he is taking the british public for granted. we will have a debate over the next few weeks i'm the one putting bold ideas on the table and i have a plan that's how we deliver a secure future for everyone. his approach is to take people for granted. he has nothing to say. no plan. >> you heard it. the election campaign is in full swing. earlier today, we heard from lord mayor of london who told cnbc that london's business community is active in the immigration debate >> the city of be london has

always tlhrived with open bordes and thrived on open and free trade with societal problems we are very keen on talent it is the one distinguishing factor of london and probably in the final analysis why brexit hasn't hurt us we need to keep that talent coming in w what was the customer experience to london? do you need a visa how are you greeted at the airport? all the way through. we are very keen on open borders there. so far, our discussions with the government have been good and in this election, we expect to see a refresh in the way that is handled. hopefully, an improvement in the experience nonetheless, we need to make decisions about the level of immigration. we distinguish that with students coming in and visas and

temporary business acts. nearly 30 million south africans are heading to the polls tomorrow in the country's general election the ruling africa congress party is facing the prospect of winning less than 50% of the vote for the first time in 30 years. we have our latest guest with us the third of all voters are still than decided it seems there is a lot of uncertainty attached to the outcome. >> reporter: certainly, carolin. that has led a number of market participants to outline three scenarios to the outcome could look like. the best-case scenario for the african congress winning below 50% majority 45% and 50% is what analysts pencilled in in that scenario, they would be

required to the coalition of smaller parties. just given the fact it would not disturb current policy current policy which business has noted and improved, particularly in the past five years improved, but has a long way to go. business leaderships in south africa here in south africa released a note to stem the power cuts in the country and to also fix the rail crisis which limited exports from going out on time and the regime noting, however, that if the status quo remains, the ac would have to reform because problems do still remain. the other two scenarios, carolin, is the scenario which the ac loses or whose support goes or dips below 40% and the congress will have to enter into

a coalition with the larger parties. just two things i want to sketch for you. the market scenario is the ac entering with the current opposition party, the second largest, which is the democratic alliance they are in line with the fiscal prudence and pushing forward with the private sector collaborative approach to growth and they are aligned in terms of maintaining the independence of the bank where they differ, carolin, is in terms of distribution of national health care and the ac is favor of distributing free healthcare through the program which was signed the democratic an alliance is i favor of the free market they are in favor of the geopolitics where the democratic

alliance is not on the same wage w page with the ac with the government stance on israel and taking the country to the ij for the genocide case. the other scenario is where the support dips below 40% and forced to enter into coalition with the populist party. this is seen as the least market friendly approach and we could see current levels weakening to 22 rubles to the u.s. dollar they have the basic services with three national healthcare and education services they are aligned in many parts when it comes to the geopolitics of the country where they differ is the eff is in favor of the nationalization

of the banks one cannot rule out the status quo remaining where the ac gets 50% and above. there is a 10% probability of that happening it is unlikely, but not impossible >> thank you so much for that and running through the scenarios. coming up on the show, jurors return for closing arguments in donald trump's hush money trial. we'll have the latest after this short break. ah, these bills are crazy. she has no idea she's sitting on a goldmine. well she doesn't know that if she owns a life insurance policy of $100,000 or more she can sell all or part of it to coventry for cash. even a term policy. even a term policy? even a term policy! find out if you're sitting on a goldmine. call coventry direct today at the

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welcome back to the show jurors returned for closing arguments for the hush money trial of trdonald trump brie jackson is with us now with the preview of what we can expect >> reporter: good morning. after weeks of back and forth battles in the courtroom, the

prosecution and defense will get the chance to sway the jury in closing arguments ans. the prosecution is seeking to say donald trump falsified documents. the defense is expecting to take aim at former trump fixer michael cohen and his credibility. mr. trump faces 34 felony counts over a business record with checks and invoices involving michael cohen. the jury must decide if each record was falsified by trump or not. meaning, he could be convicted on some counts and acquitted of others mr. trump claims no wrongdoing and claims s s this is a witcht we could see a verdict by the end of the week. >> thank you very much for that, brie. let's give you the insights.

shares of apple are higher in p pre-market trade after the rebound in china last month with iphone shipments rs rising 50% take a look at the shares pre-market up by more than 2% nvidia shares have jumped in pre-market trade nearing the $1,100 level after the record high on friday we saw the blowout numbers from nvidia last week shares up 3% pre-market. u.s. futures are reflecting this with the nasdaq up almost 100 points it closed at a record on friday. the dow jones industrial average is bouncing back from weakness last week up 17 points the s&p could be adding on 15 or 16 points. all eyes on the pce numbers that are coming out on friday a quick check of the european market action for you.

mixed picture. the ftse 100 has catch up to do. smi in switzerland is off a smidge the dax and ibex in spain is trending higher. not a lot of conviction in the european markets at this point we are awaiting data for german inflation and eurozone inflation this week. that's it for today's show i'm carolin roth "worldwide exchange" is up next. we will see you same time, same place tomorrow have a good day. bye-bye. shipstation saves us so much time it makes it really easy and seamless pick an order print everything you need slap the label on ito the box and it's ready to go our cost for shipping, were cut in half just like that go to shipstation/tv and get 2 months free

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it is 5:00 a.m. here at cnbc global headquarters. i'm frank holland and here is your "five@5. back in action wall street back in business after the long holiday weekend the nasdaq at fresh record highs. consumer caution in the short week ahead and all roads lead to the pce inflation print. what it could mean for the fed summer playbook. $10 trillion and beyond after last week's nvidia report. we speak with an analyst doubling down on what could be the most bullish outlook on the street. elon musk and