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Dec 11, 2023
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what we heard from rick santelli. brian i will start with you, knowing what you heard from the auction of rick and what do you think of the investing landscape macro view will be the biggest difference between 2024 and what we saw in 2023? >> the first thing i'll say is i'm glad i don't take professor santelli's class c-mine us and i am not overly concerned about losing demand for u.s. treasurys. treasurys will reflect the nominal growth. this is the year in which some things got significantly better relative to expectation, inflation came down rapidly and growth was resilient. so you had a very, very big year in the broad indices. i would think next year you'll see more modest. you will not see the same types of returns and the markets will do just fine next year. so there will be different regimes and we'll have the start of the year where it's broader and we'll go through some slowdown where investors may want to favor higher quality, but to my earlier point, ultimately, i view it as a mid-cycle slowdown and the be
what we heard from rick santelli. brian i will start with you, knowing what you heard from the auction of rick and what do you think of the investing landscape macro view will be the biggest difference between 2024 and what we saw in 2023? >> the first thing i'll say is i'm glad i don't take professor santelli's class c-mine us and i am not overly concerned about losing demand for u.s. treasurys. treasurys will reflect the nominal growth. this is the year in which some things got...
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Dec 28, 2023
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. >> rick santelli, thank you., thank you as well for your time today. >>> let's turn to stocks with the dow and the nasdaq 100 at record highs. the nasdaq 100, not the come poise it or the s&p. my next guest thinks the market will climb in 2024 with some bumps in the road. let's talk to david katz. david, first of all, how did the year go for you? we talk about the mag seven, but you have general electric that are doubled. what powered your portfolio? >> the year went relatively well. we have two strategies, value, which was very good, and we had five of the seven magnificent seven that we bought when they sold off last year. the dividend portfolio had a slow start, but for two or three months is ending really strong, so we're feeling good about that, too. our outlook on bonds was good. so we're hopeful we get close in terms of what we are thinking about next year is what we thought this year. >> you had five of the mag seven in your value portfolio. let us not forget what people thought about those stocks 52 week
. >> rick santelli, thank you., thank you as well for your time today. >>> let's turn to stocks with the dow and the nasdaq 100 at record highs. the nasdaq 100, not the come poise it or the s&p. my next guest thinks the market will climb in 2024 with some bumps in the road. let's talk to david katz. david, first of all, how did the year go for you? we talk about the mag seven, but you have general electric that are doubled. what powered your portfolio? >> the year went...
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Dec 21, 2023
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rick santelli has the latest from chicago. rick?yes, we did see big drops and new -- cycle low yields, but we have reversed higher, led by longer maturities. i think led by longer maturities when rates move higher is going to be something we will hear a lot more about as we move into 2024. but the world has seen huge moves. just since mid october, the moves in the fixed income cyberspace are unbelievable. look at the two year note. we will keep everything mid october. the high there, 5:22. down nearly 90 basis points in about two months. look at tens, for 99. you remember that, basically a whisker in the 5% territory. close to four 99. it's over 110 basis points lower since mid october. boon yields, they settle today at one 97. mid october, they were two 93. down nearly 100 basis points. and guilds? well, the guilds went. ten year uk sovereign instrument was at 467 mid october. close to 354 today yearly 115 basis points. these are huge numbers and they demonstrate several issues that the post-covid world is looking at central banks
rick santelli has the latest from chicago. rick?yes, we did see big drops and new -- cycle low yields, but we have reversed higher, led by longer maturities. i think led by longer maturities when rates move higher is going to be something we will hear a lot more about as we move into 2024. but the world has seen huge moves. just since mid october, the moves in the fixed income cyberspace are unbelievable. look at the two year note. we will keep everything mid october. the high there, 5:22. down...
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Dec 8, 2023
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, thank you very much rick santelli.e meantime, let's take look at the biotech space wher shares of bluebird bio a resuming trade the stock is down more than 30 even after getting a key dru approval angelica peebles is live in news room to explain, an angelica, we really have to di in here and get the full scoop of what's been happening today pretty extraordinary >>> yeah kelly there's a lot going on today so, the fda approving tw treatments for sickle cell disease. one is from vertex and christopher, and as a treatmen that uses gene editing and the other one you mentione is from bluebird bio that is also a gene therapy, but it uses a differen technology then gene editing and shares are getting slammed today, as you mentioned. one of the things we noticed i that gene therapy comes with a black box warning. that is the worst, the strongest warning you can get, warning people of the risk o cancer and of course, that's no great. and also, but list price i about -- higher than the other ones cast chevy so, bluebird it's char
, thank you very much rick santelli.e meantime, let's take look at the biotech space wher shares of bluebird bio a resuming trade the stock is down more than 30 even after getting a key dru approval angelica peebles is live in news room to explain, an angelica, we really have to di in here and get the full scoop of what's been happening today pretty extraordinary >>> yeah kelly there's a lot going on today so, the fda approving tw treatments for sickle cell disease. one is from vertex...
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Dec 11, 2023
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rick santelli has the details. i saw you when you graded the auction, c-minus. wasn't great. what's your take on what's going to happen with the 30-year tomorrow? >> yeah, it was a c-minus on tens. it was a d on three-years and i think i was overly generous on both. you bring up a good point, though. if you look at the intraday chart a couple of days of threes and tens on one chart, what you definitely see is that we made our high yields right as the auctions ended. 11:30 eastern for the three-year, that was the highest yield intraday going back to the end of november. if you look at 1:00 eastern, for the ten-year, it made its highest intraday yield going back to the 4th of december. now, if you look at the charts up for a week, you can see the importance here. yes, yields came down after they spiked on auctions, but they're still elevated, and if you look at a 30-year which is tomorrow, $21 billion, it has completed a cycle from the end of august to basically three days ago. so, the real issue is, what is it going to do next? and i think if you look at auctions in general, t
rick santelli has the details. i saw you when you graded the auction, c-minus. wasn't great. what's your take on what's going to happen with the 30-year tomorrow? >> yeah, it was a c-minus on tens. it was a d on three-years and i think i was overly generous on both. you bring up a good point, though. if you look at the intraday chart a couple of days of threes and tens on one chart, what you definitely see is that we made our high yields right as the auctions ended. 11:30 eastern for the...
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Dec 20, 2023
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. >>> let's get to rick santelli. morning, rick. >> yes. the conference board for the month of december. headline number expected to be up 104 to 105. blew that away. 110.7. 110.7, that looks to be the best level since july of this year. and if you look at the present situation at 148.5, also a nice pop. best since july. finally, what expectations we have, what may lie ahead, 85.6, significant jump, over 77.4. guess what, best since july. let's move towards november, existing home sales. remember, rates have come down a lot but in november, if you looked at bank rate average 30 year fixed never traded below 760 until the last day of november wn it was at 757. didn't get the bulk of the drop we're experiencing in december. reversing five months of decline on existing home sales for a rate of 3.82 million seasonably adjusted annualized units. and what happens interesting about this, breaks the five month streak and in e rear view mirror 3.79 millions was the worst in 13 years in terms of a pace and comp 13 years ago was 3.45 million. which ha
. >>> let's get to rick santelli. morning, rick. >> yes. the conference board for the month of december. headline number expected to be up 104 to 105. blew that away. 110.7. 110.7, that looks to be the best level since july of this year. and if you look at the present situation at 148.5, also a nice pop. best since july. finally, what expectations we have, what may lie ahead, 85.6, significant jump, over 77.4. guess what, best since july. let's move towards november, existing...
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Dec 5, 2023
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for that we get to rick santelli. rick? >> yes, david.own and watch equities move up a bit, as job openings and labor turnover known as jolts for october is much less, huge miss, versus expectations. looking for a number around 9, 300,000. the number 8, 733,000. that is the weakest since march of 2021 and there was even a subtle revision lower to last month from 9, 555,000. a big police there. let's look towards november ism services index. 52.3 expected. 52.7. that's the best since september. on the prices paid, at 58.3. that is the weakest since july, which is a good thing in the instance of prices paid. on the employment index, 50.7. a big miss there. however, however, even though it's a big miss, it's still the best number since september. it's just that we were looking for a number closer to 51.5. finally, on the new orders front, we were looking for 54.9. a 55.5 the best since august. we're going to be looking towards tomorrow's adp and friday's jobs report to see if some of these above 50 expansionary service sector numbers will ho
for that we get to rick santelli. rick? >> yes, david.own and watch equities move up a bit, as job openings and labor turnover known as jolts for october is much less, huge miss, versus expectations. looking for a number around 9, 300,000. the number 8, 733,000. that is the weakest since march of 2021 and there was even a subtle revision lower to last month from 9, 555,000. a big police there. let's look towards november ism services index. 52.3 expected. 52.7. that's the best since...
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Dec 8, 2023
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rick santelli has those numbers for us rick >> david, there are some significant surprises here on universityber preliminaries. in a couple weeks they'll change every metric here is kind of wild let's first take the headline, sentiment number, 69.4 last look was 56.8 so we basically have jumped to the best levels since july if you look at number two, which would be current conditions. our last look 68.3 zoom, zoom, zoom to 74.0 the best since august. if we look at the future expectations, 56.8 was our november final 66.4 that's the best since july it doesn't end there if we look at one-year inflation, well, 3.1 this is -- the volatility in one-year inflation by these respondents is off the charts. it was 4.5%. our last look that was the highest since april of this year, drops down to 3.1, which is the smallest, to find a smaller one go to january of 2021 to equal 3.1. if you go to march of 2021 finally five to ten-year, same scenario at being at 3 to 3.1 forever it jumped up to 3.2 last time to find a higher number than 3.2, you had to go all the way back to july and august of 2008. now it ju
rick santelli has those numbers for us rick >> david, there are some significant surprises here on universityber preliminaries. in a couple weeks they'll change every metric here is kind of wild let's first take the headline, sentiment number, 69.4 last look was 56.8 so we basically have jumped to the best levels since july if you look at number two, which would be current conditions. our last look 68.3 zoom, zoom, zoom to 74.0 the best since august. if we look at the future expectations,...
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Dec 7, 2023
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. >>> we got wholesale trade data out moments ago and rick santelli has it for us. >> yes, david.le inventories. this is october finals so that's the first month of the fourth quarter. very important. expected to remain down 0.2. once again, a big revision. these mid-month reads really had some big changes in variety of releases. down 0.4%. double the expectation. and that is the weakest level since june. and we know that inventory has been on the weak side all year because september of this year is the only month above 0. september of this year. on sales, also a big miss. we're expecting a positive number to be around 1%. now this isn't a final read. this is a new october read for the sales side down 1.3%. the weakest since march of this year, and it really does underscore the notion that inventories have been on the lean side, sales have picked up markedly outside of this. we all know third quarter was running gdp over 5%. these are important numbers to pay attention to for q4, especially going into the holiday season. back to you. >> yeah. we're tracking under 2% growth for q4.
. >>> we got wholesale trade data out moments ago and rick santelli has it for us. >> yes, david.le inventories. this is october finals so that's the first month of the fourth quarter. very important. expected to remain down 0.2. once again, a big revision. these mid-month reads really had some big changes in variety of releases. down 0.4%. double the expectation. and that is the weakest level since june. and we know that inventory has been on the weak side all year because...
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Dec 4, 2023
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rick santelli has the numbers for us in chicago. hi, rick. factory orders are down 3.6%.onth change since april of 2020. what's very interesting here is, in the rearview mirror, originally last month, it was reported at 2.8, which is less since january of 2021. that is now downgraded to up 2.3 to up 2.3, which becomes then only the best -- well, still say since january when it was up 3.8. transportation, figured in a negative way, which has been rather unusual. so you strip out transportation, the number improves to minus 1.2%. durable good orders, these are final numbers, mike. these are replacing the mid-month read, so minus 5.4 remains at minus 5.4. and just to give you an idea, july of this year was minus 5.6. that was the weakest month over month change since april of 2020. very close. and if we look at ex-transportation, it remains unchanged. in this instance, including transportation, made the number significantly more negative. capital good orders, nondefense, ex-air, a proxy for capital spending down 0.3%. that is from 0, from 0 now down 0.3. excuse me. that was
rick santelli has the numbers for us in chicago. hi, rick. factory orders are down 3.6%.onth change since april of 2020. what's very interesting here is, in the rearview mirror, originally last month, it was reported at 2.8, which is less since january of 2021. that is now downgraded to up 2.3 to up 2.3, which becomes then only the best -- well, still say since january when it was up 3.8. transportation, figured in a negative way, which has been rather unusual. so you strip out transportation,...
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Dec 11, 2023
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rick santelli live in chicago, hey, rick. >> hi, tyler, yes, we have had 50 million notes, we had 37,000,000,010notes, i gave the auction a c-. after 87 billion, what do we learn? first of all, the three or no deal right at the 11:30 auction and result, the highest highs since november 28th. and the 10 year already poisoned by the notion that investors didn't really like the taste of a three-year period that 10 year was arguably a bit better, but at 1:00 eastern right as the auction ended, we are still the highest yields since december 4th, let's call it a week. what i have learned is you can have a first-place team and still have really lousy games. and i think that many believe that the auctions and yields have been very well behaved, all things considered. i don't disagree with that, but all of a sudden, these auctions weren't that good. end of story. all right, so we see we have $87 billion in supply and two options, we see that the equity market for the most part seems to be holding up, what do you see in equities, considering we have cpi, ppi, and a two day fed meeting that starts tomorrow
rick santelli live in chicago, hey, rick. >> hi, tyler, yes, we have had 50 million notes, we had 37,000,000,010notes, i gave the auction a c-. after 87 billion, what do we learn? first of all, the three or no deal right at the 11:30 auction and result, the highest highs since november 28th. and the 10 year already poisoned by the notion that investors didn't really like the taste of a three-year period that 10 year was arguably a bit better, but at 1:00 eastern right as the auction...
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Dec 4, 2023
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rick santelli. i'm fired up today, rick. >> yes, fired up, everybody's fired up today. if you look at interest rates they're moving to the up side. that's after testing some levels we haven't seen in over a decade. of course, those were the intercycle lows that we had on friday, but maybe the big story today, obviously, what's going on in gold and bitcoin. when did the dow make their all time high? which they're very close to right now, in early 2022. let's start the charts in january of 2022. remember, it's always about location, location, location. well, look at that chart and look at the spikes. now look at gold. how many closed over 2,000? see those spikes? see where we're at relative to the dow. gold's up here making new highs. what about bitcoin? same thing. when was the last time it was over 40,000. when was the last time it was over 45,000? beginning of 2022. it's all about investors willing to take more risk on, and why? thank the fed here. let's talk to a trader. hey, dave. >> i'm making some sweet trades, rick, what's happen something. >> the big story today
rick santelli. i'm fired up today, rick. >> yes, fired up, everybody's fired up today. if you look at interest rates they're moving to the up side. that's after testing some levels we haven't seen in over a decade. of course, those were the intercycle lows that we had on friday, but maybe the big story today, obviously, what's going on in gold and bitcoin. when did the dow make their all time high? which they're very close to right now, in early 2022. let's start the charts in january of...
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Dec 15, 2023
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rick santelli, what do you have for us?e the december preliminaries, which means in a couple weeks they may be modified. these are s&p global pmis. on the manufacturing side, expecting a number over 49. 48.2. that's the weakest since august and that makes 10 out of 11 below 50, which means contraction. services, a completely different picture. 51.3. that's the best since july. that's better than the rearview mirror of 50.8, and that means 11 out of 12 are above 50 in expansion territory. finally, the composite together, 51.0. better than expectations, better than the 50.7 in the rearview mirror, best since july and that means 11 of 12 also above 50 in expansion mode. interest rates, well, the longer maturities are hovering very close to unchanged. you're slightly higher in the front of the curve. you're down huge on the week. down huge on the week. the "squawk on the street" will return after a short break. hmmm... kind of needs to be more, squiggly? perfect! so now, do you have a driver's license? oh. what did you get us?
rick santelli, what do you have for us?e the december preliminaries, which means in a couple weeks they may be modified. these are s&p global pmis. on the manufacturing side, expecting a number over 49. 48.2. that's the weakest since august and that makes 10 out of 11 below 50, which means contraction. services, a completely different picture. 51.3. that's the best since july. that's better than the rearview mirror of 50.8, and that means 11 out of 12 are above 50 in expansion territory....
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Dec 20, 2023
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santelli in chicag because 20-year bonds are up for auction. rick is tracking the action from out there. we're curious, because this is where the rubber meets the road. we're reporting a price tag on all of these growth and macro expectations. what happened with the auction? >> it was not a pretty auction, dom. but we want to putn asterisks on two issues. very volatile, meaning prices s were running up and yields were falling. the last 20 minutes rather aggressily. the second thing is, individual auctionswhether they go great or horrible,oesn't affect the markets on a day-to-day basis. it's more of a macro issue. on this one, d as in dog. 13 billion reopened 20s adding to an issue we opened for the first offing one month ago. so it's a 19-year, 11-month security. the yield on those is 4.213%. at was much higher than the one ise market. but just to tell you, in the last five minutes of the one-issumarket, it went down to 4.19. very volatile. it made this auction almost impossible to turn out well, but it tailed. the bid to cover was the lowest s
santelli in chicag because 20-year bonds are up for auction. rick is tracking the action from out there. we're curious, because this is where the rubber meets the road. we're reporting a price tag on all of these growth and macro expectations. what happened with the auction? >> it was not a pretty auction, dom. but we want to putn asterisks on two issues. very volatile, meaning prices s were running up and yields were falling. the last 20 minutes rather aggressily. the second thing is,...
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Dec 26, 2023
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it's rick santelli today. how did it go over? >> in so many ways, i am not rick. i don't know how to put this necessarily in context. i can give you the data here, which the high yield was 4.13%, i mean, did you ever wish for rick to be here to give us a grade on that? indirect, 61.8 p%. i don't put this in the kind of context that rick can, but it seemed like a reasonably good auction. you can see yields are down relative to where they were before the auction results were published. so it seems like it was a decent auction. the problem, kelly, has not been on the short end of the curve. it seems like we've been pretty successful at the short end. the question and the place where the treasury has been treading most carefully is on the long end. those are the ones we are watching and most interesting. and so far so good in terms of the behavior of the longer end of the curve. i don't think barry or i are sitting here like four, five weeks ago, saying we thought the ten-year would be in the $3.88 range, wherever it is right now. that's been an astonishing developmen
it's rick santelli today. how did it go over? >> in so many ways, i am not rick. i don't know how to put this necessarily in context. i can give you the data here, which the high yield was 4.13%, i mean, did you ever wish for rick to be here to give us a grade on that? indirect, 61.8 p%. i don't put this in the kind of context that rick can, but it seemed like a reasonably good auction. you can see yields are down relative to where they were before the auction results were published. so...
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Dec 22, 2023
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let's get new home sales and consumer sentiment with rick santelli. >> yes.ild data points here, carl. new home sales expected to be darn close to 700,000 seasonally adjusted annualized units. a big miss. 590,000. from a slightly revised 672,000. that means this number is down over 12%. that's over 12%. what's more, that is the weakest number, the weakest rate, all year. as a matter of fact, going back to november of last year. we want to keep that in mind. let's go to university of michigan sentiment, shall we? these are december finals. our mid month reads and toss them. 69.4. now becomes 69.7. still the best since july in five months. expectations moves from 66.4 to -- i'm sorry -- yeah, that is a huge jump, 66.4 to 67.4. i thought i made an error. these are big moves. that's the best in five months as well. now we look to current conditions. our last mid-month look was 74. this one deteriorated to 73.3 which means it's the best since august, not july. we'll call that four months. the inflation numbers. one year inflation remains at 3.1%, which happens to
let's get new home sales and consumer sentiment with rick santelli. >> yes.ild data points here, carl. new home sales expected to be darn close to 700,000 seasonally adjusted annualized units. a big miss. 590,000. from a slightly revised 672,000. that means this number is down over 12%. that's over 12%. what's more, that is the weakest number, the weakest rate, all year. as a matter of fact, going back to november of last year. we want to keep that in mind. let's go to university of...
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Dec 29, 2023
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joining me is bill lee and rick santelli is also with us welcome to you both.l, why the pushback >> well, in order for the market to be correct, we're going to have to start seeing weakening in the real gdp or some real falloff in the inflation rate that gets us to 2% or below the fed's target the fed has already programmed in three to four rate cuts going forward. but to accelerate it this early means something has gone wrong, something is not in their fed forecast and likely the market is worrying perhaps about the weakness that is yet to come because of that tightening that we saw one oh of the problems is that this equity market doesn't show that so it's got to be in the very low inflation rates that are markets are anticipating if that is a surprise, it's a good surprise. >> it is possible that doing rate cuts because inflation has receded so quickly is a fine reason for doing that. >> oh, absolutely. in fact, right now the problems that real rates are historically very high, well above 2.5%, and because the fed has announced it's pivoted, the long rates h
joining me is bill lee and rick santelli is also with us welcome to you both.l, why the pushback >> well, in order for the market to be correct, we're going to have to start seeing weakening in the real gdp or some real falloff in the inflation rate that gets us to 2% or below the fed's target the fed has already programmed in three to four rate cuts going forward. but to accelerate it this early means something has gone wrong, something is not in their fed forecast and likely the market...
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Dec 14, 2023
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rick santelli in chicago with more. dallas, what is the buzz, rick? what is a remake of this?does everyone make of this? >> i think that the buzz is that the fed being done in the party began, and then the fed pushing yesterday the notion that maybe they are not done, but by the end of the press conference, it certainly seems as though all of my sources had a major change of heart and were definitely and that fomo camp. it's all about fomo. so if you look at it today chart of twos and tends, you can see that right as the meeting was being announced, the statement was being announced at two eastern, what we saw was a drop of significant larger proportions on the short maturity in the two year versus the ten year. so you dropped about 30 basis points on the two, you talked about 23 basis points and of ten. why is that important? because if the short maturities are leading the way, the last guest says that he believes that danielle's will be closer to four and a four and a quarter percent. that would make sense if you interpolate where the two year is going to go with a fed that
rick santelli in chicago with more. dallas, what is the buzz, rick? what is a remake of this?does everyone make of this? >> i think that the buzz is that the fed being done in the party began, and then the fed pushing yesterday the notion that maybe they are not done, but by the end of the press conference, it certainly seems as though all of my sources had a major change of heart and were definitely and that fomo camp. it's all about fomo. so if you look at it today chart of twos and...
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Dec 5, 2023
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rick santelli in chicago. this bond market has gone from wow to more wow. >> yeah. absolutely.now, the measurements -- we went over that on a chart yesterday, if you measure the head and shoulders that we violated that neckline right around 4.5, 4.6%, that measurement comes out to around 4.10. so there could be still room to run. even when it gets there, doesn't mean it will stop. that's the measured objective. the big number today, 617,000, that's the drop in october. job openings and labor turnover, that, kelly, is referring to. look at intraday chart of 10s. 10:00 eastern, look at that volatility. you add in a couple days, well, you could see we took out friday's low. that's the right side and the left side. but 2-year note yields, for example, did not. more inverting on the yield kufb curve on that weaker than expected data. that puts the 10 year right on pace for a fresh three-month low yield close as you see. anything below 417 takes you back towards the last sessions of august. currently, we're close equivalent to first day of sep. but maybe the important issue is novemb
rick santelli in chicago. this bond market has gone from wow to more wow. >> yeah. absolutely.now, the measurements -- we went over that on a chart yesterday, if you measure the head and shoulders that we violated that neckline right around 4.5, 4.6%, that measurement comes out to around 4.10. so there could be still room to run. even when it gets there, doesn't mean it will stop. that's the measured objective. the big number today, 617,000, that's the drop in october. job openings and...
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Dec 12, 2023
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rick santelli is in chicago. he's watching the markets. he's in the pits. he's got more. >> yes, morgan, i'm always watching the markets. i was particularly interested in the year over year today cpi. 4%, second month in a row, well off 6.6% historic high. as you look at the chart, there's no arguing. it's come down. but the issue is if you open the chart up to a 5-year chart, two things should jump out at you. today's 4% is the lowest in 30 months. may of 21. but that also means it's been 30 months since this metric was under 4%. so it is still running on the warm side. and we saw on the monthly numbers that core was up .1th hotter than headline. you'll look at 30-year bond chart, it shot up. 1:00 p.m. eastern rates move down because we had a much better 30-year bond auction today than we did the last time we had one because the last one was a disaster. this auction was the best of breed, 3s weren't very well received. 10s was below average. but 30s, 30s was slightly above average. i do think auctions are going to continue to be a feature because i think d
rick santelli is in chicago. he's watching the markets. he's in the pits. he's got more. >> yes, morgan, i'm always watching the markets. i was particularly interested in the year over year today cpi. 4%, second month in a row, well off 6.6% historic high. as you look at the chart, there's no arguing. it's come down. but the issue is if you open the chart up to a 5-year chart, two things should jump out at you. today's 4% is the lowest in 30 months. may of 21. but that also means it's...
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Dec 7, 2023
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rick santelli. >>> more geopolitical tension for oil markets to worry about today.der dispute between venezuela and bianna for one. at first this sounded like social media rumors and now it looks a little more substantive. >> reporter: the first thing to note here is that disputes around this region in guyana, which is about two thirds of the country, date back to the 19th century with the current borders drawn in 1899. in 2015, the region took vastly more important from a economic and energy standpoint after a reserve 11 billion barrels of oil was found. over the weekend, venezuelan president maduro held a national referendum asking if venezuela should incorporate that region of diana into venezuela. the government says that 95% of voters said that it should. there has been questions around the validity of the numbers that maduro has published, but the overwhelming response is that it should be annexed into venezuela. so this region is so important from an economic standpoint as well, when leicester guyana's economy grew more than 60%. which was the highest worldwi
rick santelli. >>> more geopolitical tension for oil markets to worry about today.der dispute between venezuela and bianna for one. at first this sounded like social media rumors and now it looks a little more substantive. >> reporter: the first thing to note here is that disputes around this region in guyana, which is about two thirds of the country, date back to the 19th century with the current borders drawn in 1899. in 2015, the region took vastly more important from a...
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Dec 1, 2023
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let's find out from rick santelli in chicago. >> tyler, he did try to pour a little water on it, butthink most investors thought only a couple of drops, and it was over in a few minutes. let's get back to buying stocks and buying treasurys, because we're looking at obviously we finished a historic month, but a historic week as well. two-year note yields currently at $455, down 44 basis points on the week. there's a bit of a rollover effect. still, that is huge. and 10s down 26 basis points. was it higher prices paid? you know what i think? it's that the fed is done and this is catching on fire, the higher stocks go, the more we see treasurys being bought. and technicals, don' underestimate it. if you look at ten-year tes, we had that neckline we've talked about with the head and shoulders. you see the pattern. i always like when there's a kiss back. that kiss back was perfect in the way it worked. and in terms of objectives, if you measure from the neckline down and then take it down again, right around $411, the closing level for the last day of august, if it measured out perfect, t
let's find out from rick santelli in chicago. >> tyler, he did try to pour a little water on it, butthink most investors thought only a couple of drops, and it was over in a few minutes. let's get back to buying stocks and buying treasurys, because we're looking at obviously we finished a historic month, but a historic week as well. two-year note yields currently at $455, down 44 basis points on the week. there's a bit of a rollover effect. still, that is huge. and 10s down 26 basis...
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Dec 22, 2023
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. >> all right, rick santelli out in chicago, happy holidays, sir. switching gears now to nike, but is on track to have its worst day in 26 years. 26 years, shares are plunging right now 11% plus in the session, the worst performer in both the dow industrials and the s&p 500. it disappointing second quarter earnings, lower fiscal full year guidance. it is dragging down other athletic focus stocks in sympathy. but, our next guest remains bullish saying nike's size and scale gives it a competitive edge over its peers in the long run, it expects investors to buy it on weakness. joining me now for more of that story, it's simeon seagull, senior analyst at bmo capital markets. simeon, this is a big deal. this is without a doubt component, it is nike, one of the biggest brand names in the world and it is shedding over 10% of its value in one day. why should investors by the dip? >> you see, dom, that sounds very, very -- listen, i think everything that you just said is fact. what is interesting, if you draw that stock chart out by one month, you will see t
. >> all right, rick santelli out in chicago, happy holidays, sir. switching gears now to nike, but is on track to have its worst day in 26 years. 26 years, shares are plunging right now 11% plus in the session, the worst performer in both the dow industrials and the s&p 500. it disappointing second quarter earnings, lower fiscal full year guidance. it is dragging down other athletic focus stocks in sympathy. but, our next guest remains bullish saying nike's size and scale gives it a...
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Dec 29, 2023
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rick santelli in chicago happy new year's are >> happy new year to you, an all of our terrific viewers. >> all, right coming up on the show -- of 100 60% so far this year. one of the best performers i the s&p 500. that traveling to z awesome di not seem to extend airline stocks, especially in th second half of the year. one possible reason why, and 2023 was the year of gas taylor swift she was everywhere, i concerts around the world, at the movie theater, and for a few hours each sunday, she was ver visible on your tv on nfl -- leave and spent a lot of tim talking about her on a busines network. we'll explain why she was such an important economic figure and force, when power lunc returns after this break you're probably not easily persuaded to switch mobile providers for your business. but what if we told you it's possible that comcast business mobile can save you up to 75% a year on your wireless bill versus the big three carriers? did we peak your interest? you can get two unlimited lines for just $30 each a month. there are no term contracts or line activation fees. and you can bri
rick santelli in chicago happy new year's are >> happy new year to you, an all of our terrific viewers. >> all, right coming up on the show -- of 100 60% so far this year. one of the best performers i the s&p 500. that traveling to z awesome di not seem to extend airline stocks, especially in th second half of the year. one possible reason why, and 2023 was the year of gas taylor swift she was everywhere, i concerts around the world, at the movie theater, and for a few hours...
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Dec 21, 2023
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rick santelli standing by. with breaking news.these old numbers. today is no exception. and as the numbers hurl by, they're actually a bit surprising. 5.2 is our last look. a second look at third quarter gdp, joe, drops 0.3 to where it was at 4.9%, which is unusual to see these, this size revision on the third. look, consumption remains 3.6. 3.6 is pretty darn healthy on the consumption side. look at price index. also remained at 3.6. i do remember one of the few metrics that really popped out. you know, the second quarter was 1.7. so we basically doubled it back to 3.6. going to be interesting to see how the fourth quarter dabbles through. personal consumption on the core side price index quarter over quarter remained 2.3, which, by the way, is the lowest core pce quarter over quarter rate of change going back to the last quarter of 2020, when it was 1.8%. initial claims. shall we? they are down. excuse me. they are down from -- what we expected. but up from a 203 revised last look. it now becomes 205,000. theoretically up 2,000
rick santelli standing by. with breaking news.these old numbers. today is no exception. and as the numbers hurl by, they're actually a bit surprising. 5.2 is our last look. a second look at third quarter gdp, joe, drops 0.3 to where it was at 4.9%, which is unusual to see these, this size revision on the third. look, consumption remains 3.6. 3.6 is pretty darn healthy on the consumption side. look at price index. also remained at 3.6. i do remember one of the few metrics that really popped out....
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Dec 14, 2023
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to rick santelli. good morning, rick. >> good morning, carl.onth over month for 2023. business inventories a bit of a different model except for this month we are down 0.1% as expected. that means you would have to go to june when we were down 0.1% to find a he lower number you would have to go to march. four months so far in the year have been negative. that's about half on the wholesale inventory side and does underscore how things are slowly starting to get back to normal. you want to pay attention to these numbers, especially if you're monitoring, of course, the beginning of the fourth quarter and how things may fair world war to holiday sales. one thing i want to point out here, if two-year is close right here they would be at a 6 1/2 low month yield of 10s, nearly five months but more importantly, look at the following charts. two-year note yields are down on the year. they closed last year at 4.43. we're hovering at 4.36. ten years are getting close, closed last year at 3.88. they're currently trading 35.95. sara, back to you. >> so we w
to rick santelli. good morning, rick. >> good morning, carl.onth over month for 2023. business inventories a bit of a different model except for this month we are down 0.1% as expected. that means you would have to go to june when we were down 0.1% to find a he lower number you would have to go to march. four months so far in the year have been negative. that's about half on the wholesale inventory side and does underscore how things are slowly starting to get back to normal. you want to...
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Dec 21, 2023
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let's get to rick santelli. >> yes.it number 20. 20 consecutive negative months in leading economic indicators. down 0.5%, so minus 0.5%. as i said, that's 20 in a row. if you consider 21 months ago with 0, it's been 21 months since we've had a positive number on leading economic indicators. we see interests rates have mod up. i'm sure it doesn't have to do with the recent lei. we hit a low of 382, a cycle intraday low on 10s that was six minutes after the 8:30 eastern data. david, back to you. >> thank you, rick. >>> i am here at morgan stanley's headquarters north of times square in midtown, manhattan. about to interview a little bit from now, james gorman. we're going to sit down for what will be his final interview as the company's ceo. he steps down from that role only a few days from now as the year ends. he will remain as executive chairman and said until the end of next year it seems. we're going to talk about any number of things that have occurred during his roughly 14-year watch over this institution. looking
let's get to rick santelli. >> yes.it number 20. 20 consecutive negative months in leading economic indicators. down 0.5%, so minus 0.5%. as i said, that's 20 in a row. if you consider 21 months ago with 0, it's been 21 months since we've had a positive number on leading economic indicators. we see interests rates have mod up. i'm sure it doesn't have to do with the recent lei. we hit a low of 382, a cycle intraday low on 10s that was six minutes after the 8:30 eastern data. david, back...
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Dec 29, 2023
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let's get to rick santelli. >> yes, sara, we're expecting a number of spot on at 50, a disappointment. that would be the weakest level going back to just october when it was 44.0. but in between, and this is the issue, last month's 55.8 was a 1.5-year high, so big reversal there, and of course, we want to pay very close attention to how other pmis and how some of the data points start to show up next year in january. this is a point. here's something unusual. we're at 3.86% in the ten. why is that unusual? we settled at 3.88% last year. about five minutes ago, that's exactly where the market was. unchanged on the year. just to put a face on it, right now, a two-year note is at 4.28%. last year, it closed at a price of 4.43%. 30-year bond is the only maturity that is slightly, and i only mean slightly, higher on the year. it settled at 3.97%. it's currently at 4%. the settlements i'm referencing for 2022 were the last trading day, which was december 30th of last year. "squawk on the street" will return after a short break. a force to be reckon with. no, not you saquon. hm? you! your bu
let's get to rick santelli. >> yes, sara, we're expecting a number of spot on at 50, a disappointment. that would be the weakest level going back to just october when it was 44.0. but in between, and this is the issue, last month's 55.8 was a 1.5-year high, so big reversal there, and of course, we want to pay very close attention to how other pmis and how some of the data points start to show up next year in january. this is a point. here's something unusual. we're at 3.86% in the ten....
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Dec 1, 2023
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. >> we have economic data, though, that is justut let's get to rick santelli for it. >> yes, david..6%. that is the best number just since august when it was up 1%. someing notable, though, this is much better thaexpected but there's a payback. last month was halved up 0.4% to up only 0.2%. ism manufacturing for november, 46.7, that's a miss. they're excting a number much closer to 48. 46.7 the lightest number back to july. and if we look at prices paid, which we want to go lower, of course, it moved in the wrong direction. 49.9. it still is the eighth consecutive number under 50, which in this case is a good thing, but 49.9 actually is the highest number going back to the last time it was over 50 and that was in april. we look at employment. up 45.8. a big miss there, and we know that a week from today we get the employment report. 45.8, the weakest level since july as well. and finally if we look at new orders, 48.3, that's a bit better than we were expecting. looking for a number around 46.8. 48.3, that is the best number, well, since september when it was 49.. but here's the bad
. >> we have economic data, though, that is justut let's get to rick santelli for it. >> yes, david..6%. that is the best number just since august when it was up 1%. someing notable, though, this is much better thaexpected but there's a payback. last month was halved up 0.4% to up only 0.2%. ism manufacturing for november, 46.7, that's a miss. they're excting a number much closer to 48. 46.7 the lightest number back to july. and if we look at prices paid, which we want to go lower,...
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Dec 19, 2023
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the two-year at 4.4% rick santelli is standing by at the cme in chicago, and rick, we're about to getmber. october we had pops in both starts and permits and the pop continues. november, starts expected to be up around 1.36 million 1,560,000. that is a big pop! and if we look at permits, similar, similar, but nowhere near the extent. we were expecting 1,465,000, we got 1,460,000. and we had a nice revision to last month from 1,487,000 to 1,498,000. these are seasonally adjusted annualized units let's dig down a little bit. 1,560,000. that is the best read since may. best read since may! and the second best read of the year that is really nice. not much action on the markets on a follow-through side and as i said, permits largely as expected. now, here's the deal if we look at interest rates for the month of november, we could probably get some clues. that was right at the tail end of the 8% we saw in october. we clipped it for the first day of november. then rates started to slide down the range was basically 8% for a nanosecond down to 760 so never got below 7.5%. we know in december
the two-year at 4.4% rick santelli is standing by at the cme in chicago, and rick, we're about to getmber. october we had pops in both starts and permits and the pop continues. november, starts expected to be up around 1.36 million 1,560,000. that is a big pop! and if we look at permits, similar, similar, but nowhere near the extent. we were expecting 1,465,000, we got 1,460,000. and we had a nice revision to last month from 1,487,000 to 1,498,000. these are seasonally adjusted annualized units...
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Dec 13, 2023
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rick santelli standing by at the cme. rick?ovember read. of course, producer price index, scrutinizing especially the top line. last month minus 0.5%, weakest number since april. biggest negative since april of '22 and jumps up to unchanged. unchanged as expected. strip out the all-important food and energy, unchanged as welling. that's a couple of tenths better than expectations. in the rearview mirror is was unchanged. to find a number below zero, below zero here, you have to go back to april of 2021. it was minus 0.3%. month over month food, energy and trade up 0.1. rearview mirror. 1 0.1% lighter. 0.4 lighter than rearview mirror. 1.3. makes 0.9 smallest read since june. just june of this year only up 0.3%. food and energy, 0.2. 0.4 less than the rearview mirror and 2%? smallest since january 2021, 0.9 and finally year over year food energy and trade-- that's 2.5. that's 0.3 less than we expe expecting. that's 0.4 laess than the last look and way back machine to february of 2021 to find a smaller number. so cpi yesterday pr
rick santelli standing by at the cme. rick?ovember read. of course, producer price index, scrutinizing especially the top line. last month minus 0.5%, weakest number since april. biggest negative since april of '22 and jumps up to unchanged. unchanged as expected. strip out the all-important food and energy, unchanged as welling. that's a couple of tenths better than expectations. in the rearview mirror is was unchanged. to find a number below zero, below zero here, you have to go back to april...
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Dec 12, 2023
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rick santelli is standing by at the cme in chicago ahead of that data.se we're at this inflection point, where we don't know when they're going to start cutting rates. >> yes, and there's good evidence of that. if you look at yesterday's options, for example, the 87 billion in three's and ten's, the three-year option was very poor. the ten-year option was definitely below average, it's not as horrible as the three-year. even though each of those auctions established a high yield for a week on the tens and for the month on three-year, right after the auctions, yields were moving down, and they were moving down before the auctions. there is a bias here that the fed is done, that we're going to start getting rate cuts in early 2024, and that inflation is just something not to worry about. if any of those aren't true, and this number furthers the cause in one direction or another, it could have outsized consequences in the market. 4.10 is the big area in the ten-year, that's the support area. it's been holding for the last several days. it was tested several
rick santelli is standing by at the cme in chicago ahead of that data.se we're at this inflection point, where we don't know when they're going to start cutting rates. >> yes, and there's good evidence of that. if you look at yesterday's options, for example, the 87 billion in three's and ten's, the three-year option was very poor. the ten-year option was definitely below average, it's not as horrible as the three-year. even though each of those auctions established a high yield for a...
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Dec 15, 2023
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over to rick santelli who's standing by at the cnbc station. >> manufacturing in and around gotham, expectingf up two, now down 14.5. down 14.5 and at this moment still following an unrevised positive 9.1. minus 14.5, weakest negative month over month since down 19, and as we watch the response in the markets it isn't huge, but keep in mind as we hover at 440 in a two year up 1 on the session. down 32 basis points on the week. as a matter of fact, we went from mid-october, high yield close at 522. 17-year high, to where we are at now hovering basically around a 6 1/2 month low. 10s at current levels consider this. we'redown 37 basis points in the ten. down 37 basis points in the ten at 392. and, excuse me -- excuse me. down 31 basis points. 392 and more importantly basically 5% on the 19th of october. andrew, 16-year high. now nearly at a five-month low. so fortunes turned. for some a positive as interest rates, of course, moved down. and everybody continues to eye the big pool of money in money markets that may come in swamp even more some of green in equities. andrew, back to you, and have
over to rick santelli who's standing by at the cnbc station. >> manufacturing in and around gotham, expectingf up two, now down 14.5. down 14.5 and at this moment still following an unrevised positive 9.1. minus 14.5, weakest negative month over month since down 19, and as we watch the response in the markets it isn't huge, but keep in mind as we hover at 440 in a two year up 1 on the session. down 32 basis points on the week. as a matter of fact, we went from mid-october, high yield...
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Dec 14, 2023
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rick santelli standing by has the numbers. rick? >> yes. mike, we're anxiously waiting. month we had weakest reading down 0.1% going all the way back to march. jumped up to up 0.3. much better than expected comp us back to last -- well this past september. this past september up to 0.9. a nice pop. last month actually now moves from minus 0.1% to down 0.2%. strip out autos, shall we? still remains nicely positive. up 0.2. looking for down 0.1. up 0.2, best read since september. strip out autos and gas, really doom 37d gas figured in. three times expectations at up 0.6. also comps to september. take the control group. double expectations. up 0.4. the best since july. now, let's flip gears here to initial jobless claims. 202,000. that's versus a slightly revised 221,000. 202,000's lightest going all the way back to october 13th. second week in october. unbelievable how well behaved this is, and, really, reminds me of how we've had a pillar change with the fed yesterday. we've gone from fighting inflation to potentially fighting recession. so these labor and jobs numbers an
rick santelli standing by has the numbers. rick? >> yes. mike, we're anxiously waiting. month we had weakest reading down 0.1% going all the way back to march. jumped up to up 0.3. much better than expected comp us back to last -- well this past september. this past september up to 0.9. a nice pop. last month actually now moves from minus 0.1% to down 0.2%. strip out autos, shall we? still remains nicely positive. up 0.2. looking for down 0.1. up 0.2, best read since september. strip out...
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Dec 6, 2023
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get to rick santelli for breaking economic data. what are you hearing, rick?around 4.9. last look, second look, 4.7. up, up, up and away 5.2% nap is significantly better and once again seems though lately revisions can be large and late in the game, remains the best quarter since the third quarter of 2020 when it was up 5.7%. normally you see better productivity you see smaller labor costs. not true this time. our last look was down 0.8. sorry. it is true this time. down 0.8. now down 1.02. that 1.02 biggest drop. since it was down 2. down 2% . the last quarter of 2022. a nice drop there. bothhanced on the last look. and trade balance for october. 64.3 billion minus 64.3 billion and that is the biggest going back to -- well, may of this year. excuse me. the smallest deficit going back to july of this year. what's important -- i like to put context here. go pre-covid, becky. biggest deficit we had was in 2018 at minus 55 billion. that was the biggest in ten years going back to '08. deficits have been significantly larger in a post-covid world and coming down qu
get to rick santelli for breaking economic data. what are you hearing, rick?around 4.9. last look, second look, 4.7. up, up, up and away 5.2% nap is significantly better and once again seems though lately revisions can be large and late in the game, remains the best quarter since the third quarter of 2020 when it was up 5.7%. normally you see better productivity you see smaller labor costs. not true this time. our last look was down 0.8. sorry. it is true this time. down 0.8. now down 1.02....
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Dec 20, 2023
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. >>> rick santelli standing by at cme in ccago with new economic data that's out.count balance, larger cousin to the traddeficit or trade balance. both of deficits. in this case, a third quarte noub. it's exciting because we hoped der 200,000. narrowly missed that. 200 billion, excuse me. nus 2.3 billion. expecting, as i said, a little under that level. the actual number, though, is the smallest current account deficit gog back to the second quarter 2021. and what does this really tell us? it's not going to be a market mover so much right now, but what it tells us is twthings. first of all, pre-covid, becky, these numbers were half. 100 billion. but they've gotten much larger four quarters ago and getting small perp to me, simple answe the world getting a bit more normal and this speaks towards demondays outside the company economy. other economies. than ourself. obviously one of the best over the last two years. quickly. 6.5 month low yeelz. look overseas everything is moving about the same. a boon is about to have its first close under 2% in one year. if you look
. >>> rick santelli standing by at cme in ccago with new economic data that's out.count balance, larger cousin to the traddeficit or trade balance. both of deficits. in this case, a third quarte noub. it's exciting because we hoped der 200,000. narrowly missed that. 200 billion, excuse me. nus 2.3 billion. expecting, as i said, a little under that level. the actual number, though, is the smallest current account deficit gog back to the second quarter 2021. and what does this really...
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Dec 22, 2023
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rick santelli here live at cme hq with important breaking news.s november preliminary. on personal income up 0.4. exactly as expected in the rearview mirror, up 0.2. lightest going back to november of last year. up 0.4, best since august. so that's a nice improvement. if you look at the spending side, up 0.2. a little bit of a miss. up 0.2, back-to-back, although the last 0.2 downgraded to up 0.1 instead of up 0.2. look at real personal spending adjusted for inflation it moves up to 0.3. followed by slightly revised lower up 0.1. up 0.3, best since july of this year. so we'll call that five months, and now the important numbers. pce deflator, month over month. down a minus sign, minus 0.1. not had a minus sign since april of 2020. april of 2020. and that was minus 0.4. that's what we're comping to, and if we look at the deflator from a year over year perspective, it is up 2.6 following a downward revised 2. and 2.6 is the lightest level going back to february of 2021. now, the most important, core deflator, pce month over month expected to be up 0
rick santelli here live at cme hq with important breaking news.s november preliminary. on personal income up 0.4. exactly as expected in the rearview mirror, up 0.2. lightest going back to november of last year. up 0.4, best since august. so that's a nice improvement. if you look at the spending side, up 0.2. a little bit of a miss. up 0.2, back-to-back, although the last 0.2 downgraded to up 0.1 instead of up 0.2. look at real personal spending adjusted for inflation it moves up to 0.3....
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Dec 28, 2023
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rick santelli here live in cmeh, breaking news of the morning.es down as expected. retail down 0.1% as expected. and, oh, i take that back. retail inventories expected up 0.1. not down 0.1. interesting here is postsale inventories, well, we haven't had a positive number in whole sale inventories a lot of unchanged but not a positive number since november last year. on initial jobless claims expecting 207,000, 212,000. 218,000. 218,000. highest since the first week in december. 221,000, and look at continuing claims, which the last time we were at 1.9 million or higher was the second week in november. it slid ever since. continuing to hover under 1. million. 1 million 875,000. pretty much spot-on with estimates and subtle revision in the revere mirror puts us a bit higher. rearview mirror, 861,000. as i said, haven't been above 1.9 million since november, and when we were, a two-year high. that is a significant level. we remain below that. trade balance, of course, a deficit. this is for the month of november minus 90.3 billion. the biggest defici
rick santelli here live in cmeh, breaking news of the morning.es down as expected. retail down 0.1% as expected. and, oh, i take that back. retail inventories expected up 0.1. not down 0.1. interesting here is postsale inventories, well, we haven't had a positive number in whole sale inventories a lot of unchanged but not a positive number since november last year. on initial jobless claims expecting 207,000, 212,000. 218,000. 218,000. highest since the first week in december. 221,000, and look...
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Dec 7, 2023
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rick santelli here live cme hq awaiting breaking news of the morning.ashing. 220,000 on initial claims, exactly as expected. that follows 218,000. the most recent memorable number was 211,000. that was the third week in november. that was the second lightest going back all the way to september. now, if we consider continuing claims last week at a two-year high, they moved back under 1.9 million. 1 million 861,000 is the number. so we move from a two-year high back down on continuing claims, and that is something to pay attention to. we see that yields are going to potentially move a little higher on that as they have. they came in a little hotter, and if you recall, of course, yesterday, we made a new pass at the lowest levels since the 5% test of one session for about a nanosecond. we clipped off 412 yesterday. we clipped off 410 today, and if you look at the dollar yen having big moves. certainly seems, though, meeting coming up for bank of japan is garnering a lot more interest. maybe a sea change in policy, and, of course, joe, i noticed your conver
rick santelli here live cme hq awaiting breaking news of the morning.ashing. 220,000 on initial claims, exactly as expected. that follows 218,000. the most recent memorable number was 211,000. that was the third week in november. that was the second lightest going back all the way to september. now, if we consider continuing claims last week at a two-year high, they moved back under 1.9 million. 1 million 861,000 is the number. so we move from a two-year high back down on continuing claims, and...
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Dec 8, 2023
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rick santelli, who was painting the town red last night with andrew apparently, and -- yeah no a nod. what happens on rust street stays on rust street. >> yes >> not to tell. >> exactly and professor of public policy and economics at georgetown university as well as a former deputy assistant secretary of the treasury for economic policy wow. i needed, almost needed the two minutes. steve, i got, you got about 30 seconds. just, if people weren't watching earlier, mad at them, but if they weren't, what's the estimated number >> looking for 190 and a bunch of smart people we follow, joe, upside of that like goldman, steve stanley up in the 240 area. >> 240 could be higher. rick, not having time to get estimates from everyone but where you are, rick, approximately? >> i'm right around 175, joe very close to estimates. 175. >> all right well, you might as well take it from me now anyway, rick it's time. the numbers should be there any second. >> yes she should be and they're populating now here's their november read on the big jobs, jobs, jobs report. 199,000. 199,000, a bit better than ex
rick santelli, who was painting the town red last night with andrew apparently, and -- yeah no a nod. what happens on rust street stays on rust street. >> yes >> not to tell. >> exactly and professor of public policy and economics at georgetown university as well as a former deputy assistant secretary of the treasury for economic policy wow. i needed, almost needed the two minutes. steve, i got, you got about 30 seconds. just, if people weren't watching earlier, mad at them,...
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Dec 20, 2023
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let's go to santelli, now to the bond market as yields are falling even further. the tenure is below 3.9 for the first time since july. rick is in chicago to break it down for us. hi rick. >> reporter: hi, morgan. it is a wild ride. just think, it wasn't long ago, october and not even at the beginning of october, interest rates, tenure was touching 5%. by the way, it did it so quickly, if you blinked, you probably missed it. you can't possibly miss how rates have fallen and how stocks have popped and if you look at 6.5 montello yield close on 2s, if you look at tens, it's on pace for a five montello yield. there's a chart, they closed under 2% first time in one year. let's go see what a trader thinks about what is going on. fomo seems to be a popular term these days. paul. >> hey rick. >> how are you doing? all i here is fomo, fomo, there has to be more of what's going on in equities than fear you're going to lose your place in line to keep up with your index or your boge, so the money you are trading for customers falls behind the curve. how much of that is actua
let's go to santelli, now to the bond market as yields are falling even further. the tenure is below 3.9 for the first time since july. rick is in chicago to break it down for us. hi rick. >> reporter: hi, morgan. it is a wild ride. just think, it wasn't long ago, october and not even at the beginning of october, interest rates, tenure was touching 5%. by the way, it did it so quickly, if you blinked, you probably missed it. you can't possibly miss how rates have fallen and how stocks...