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tv   Street Signs  CNBC  June 1, 2023 4:00am-5:00am EDT

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tene." i'm craig melvin. thanks for watching. [theme music] ♪ 314-117. the bill is passed out objection, the motion to reconsider is on the table >> house representatives approve the debt ceiling bill heading it to the senate days ahead of the default deadline >> more than 2/3 of the conference voted for it we got all of the democrats to
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say they would never raise the debt ceiling and they voted for it >> marketing smashed the rate hike in june after two fed officials are steady, but leave the door open to further hikes. and volodymyr zelenskyy volodymyr zelenskyy arrives in moldova. volodymyr zelenskyy says his country is ready to join the alliance. >> supporting up and supporting when i had the meeting with him, but it is, you know, we need all of the unity through the alliance european equities open in the green andn hope that the
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debt ceiling is coming to an end. good morning. welcome to "street signs." the u.s. house has passed the bill to raise the debt limit and cap spending days before the default deadline the act passed 314-117 those in opposition to the measure were 71 republicans and 46 democrats the measure moves to the senate where leaders on both sides want to pass it within 48 hours house speaker mccarthy admitted there had been compromises. >> is it everything i wanted no sitting with a house and democratic senate and democratic president who didn't want to
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meet with us, we did good. let's cut more because we are in a big debt this is fabulous this is one of the best nights i've ever been here. i thought it would be hard i thought it would be impossible now i found a new day here we woken them up maybe they listened to our speeches i don't know >> president biden welcomed the news saying there was compromises on both sides. the deal is good news for the american people and economy protecting his key priorities from the past two years. he urged the senate to pass the bill as quickly as possible to enable him to sign it into law >> julianna, we got a pull back in u.s. equities yesterday a surprise given we were talking about the risk premium in the debt ceiling discussions you can see since the passage of the bill in the house of representatives, we have seen a turn around with the maurrkets. all three majors look to open up
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in marginal positive territory we saw a pull back yesterday in all three of them. even the tech sector over in europe, you see on the heat map, there are broad based green and positive sentiment driving the price action the stoxx 600 is up .60% it is bouncing off the two-month low. things have turned around in the last 24 hours. we placed a lot of emphasis on the data coming out. we got inflation numbers indicating a strong trend. at 10:00 a.m., we get the strong euro picture it may come in better than expectations a driver for macro markets we had the pmi numbers coming in revised higher still demonstrating the
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manufacturing industry is still in the slump as far as eurozone is concerned the stoxx 600 is positive today. in terms of the indices, we have all trading in the green broad based gains. ftse mib is leading .40% the ftse 100 is seeing a bounce in commodities that index is up .50%. the cac 40 is up .40%. worth noting the likes of renault and airbus posting good results today leading the gains in the french index. in germany, up .80%. we did have some data come out german retail sales disappointing marginally month to month all of these pieces together are setting a picture for growth that is still dpiminished in the
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euro picture this is where the leadership is coming from with oil and gas up 1.3% the opec plus meeting this sunday expectations they could surprise with another cut in production something to watch there me media up 1.25% real estate is weaker down .20%. utilities trading weaker as attention was trading firmly on the house, the odds of the june rate hike fell sharply after two fed officials suggest favor skipping a rate hike at the upcoming meeting the governor jefferson said he would want more data, but reiterated a skip is not a pause. and philadelphia fed president said he is increasingly in favor of the skip, but admitted friday's jobs data could change his mind the futures market flipped from 70% chance of hike to 64%
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probability of no change markets are really beginning to square in on the june fmoc meeting. daniel morris sr. from bp is joining us great to have you on the show. what do you make of all of this hype around the what the fed may or may not do in the june meetingme meet -- meeting? will they pause or hike again in july all right. it seems we are having a bit of trouble connecting with daniel once we reestablish the question, i'll ask the question. daniel, if you can hear me, my question is the next fed meeting and if they go for a hike or pause. we lost him.
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>> we are having issues with daniel's connection. joumanna, when it comes to the debate with what the fed does from here, we got an interesting piece of data in the form of the jolt survey. this is the labor data what we saw is job openings increased to 10 million in april. that was higher than march and higher than forecast you have been bringing up this point over and over this week about the resilience of the u.s. economy. it looks like the data point that points in that direction. >> i think the labor market continues to be a point of strength defying all odds. expectations was this point in the cycle , the u.s. would show sign of weakening. that hasn't transpired the key is tomorrow. the fed meeting comes around weekly and that would be a indication if the cracks show up. the job openings are still there. there are companies still
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looking to employ. that is a positive sign. average hourly earnings growth is still high. personal spending numbers came out last friday and surprised to the upside we were talking about that in the context of broader company earnings and how retail sales have headld up. it is surprissurprising >> it is hard to stop the american consumers from spending >> let's get to daniel morris again. daniel, i hope you can hear me this time. i will repeat my question regarding what is priced in to the next fed meeting and how significant it is for market direction from here with what the fed does at next meeting >> significant if we are at a pivot point which remains to be seen we want to recognize we moved quite far in terms of the next
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meeting. a couple weeks ago, we were pricing a hike and then it went to nothing and now a cut and now back to neutral. you had a lot of volatility. as always, itdependent if we anticipate, all we can really say is wait and see what the data tells us. as you mentioned, member harker said the non-farm payroll is significant. the jolts suggests the market is robust that is the factor to tip the fed to be more hawkish if we saw another strong payroll growth. >> can i ask what your outlook is for u.s. equity markets from here will we trade sideways if the fed sounds hawkish or is this a moment where we will see the pull back that a lot of people have been anticipating
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>> indeed. we actually have and turned cautious there are a couple of reasons for that one is, as you mentioned, recession which never seems to arrive if we have persistently strong inflation, that raises the risk the fed has to hike more to slow down growth to bring us to rece recession. we feel we will get there eventually the thing that is making us nervous in the short-term is the leadership of the performance for the index so far this year we are all aware it is almost entirely dependent upon tech and outside of the technology sector, terms are negative it doesn't give you a lot of confidence that you see continued gains from here when it doesn't have that broad based support across the market. >> let me dig into what happened in tech. tech has been the out performer as you said. how crowded are the u.s. tech
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names? we had a guest on yesterday who said they look frothy, there are still a number of investors not in the names >> potentially when you hear the phrase it is different this time, one should worry whether or not they're frothy. valuations are higher for the tech sector and that raises the valuation estimate for the s&p as a whole if you look at the rest of the market, it is long-run average outside of tech, we are not concerned about the valuation. it is an earning story if we go into recession, will the rest of the market put up the earnings growth you see in consensus estimate on the tech side, we have the enthusiasm around a.i. and tech did do better with the results in the first quarter than expected from here, are you going to see significant upward revision and
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we are skeptical that could happen. >> we have a look at the big tech this year meta up 119% this year clearly a lot of those upgrades are priced in. daniel, let me take you to china. reading through the latest comments, it stuck out that you are bullish over the chinese economic outlook where do you diffmove based on policy support >> that depends on growth continuing to disappoint if you look at the emerging market be eqequities in the oppe way to the u.s. sector u.s. commodities are up. the under performance you had is entirely china the question is is that going to change given the disappointment
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so far we think it will even the sentiment is negative currently china. if you look at consensus earnings expectations for growth this year and next year is 15% if that is revised down, that is a robust figure particularly compared to what you get in the u.s. and europe. overweight europe and asia korea antd taiwan in particular the last is to see a turn around in sentiment toward china. >> it is interesting you say that consensus has been shifted to be bearish on china the activity data is moving to the down side with the exception of last night. let me ask you what is the best way to express a positive china view going into the second half of the year?
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>> the way we are choosing is through overweight asia more broadly. we don't want to make a bet on china. there will be a spillover from chinese growth to diversify allocation that is the best way to pick up the upside that we believe is still there. >> daniel, thank you for joining us today on the show it is great to have you on daniel aremorris from bnp. chinese factory activity with a surprise growth in may. according to private sector survey, the manufacturing purchase index rose to 50.9% up from 49.5% last month as supply and demand picked up. sam filed this report. >> reporter: surprise return to growth for factory activity in china.
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rising to 50.9% last month the market expected contraction. the survey is the smaller firms in china they held upper better after th activit activity fell to the lowest level in five months they are looking at the exporters with the report due to the increase of production which caused a pick up in demand at home and overseas. this offers a rosy picture over the official numbers the survey said business confidence the fell to a seven-month low before china lifted covid curbs in december companies were reluctant to hire more workers for now, this is good news for the economy and markets which gained off the back of the news. snapping three days of the
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losses in the market after a six-month low. we get an idea of the firms holding up in the services sector when that data is released on monday if the official numbers are expected, we could see resilience as it captures the may day holiday. sam baddas, cnbc business news, singapore. coming up, a rare press conference in moldova from volodymyr zelenskyy. we have the latest comments after this break 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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nato is open for new members. we believe ukraine will become a member of the alliance and all of us agree it is for the nato allies and ukraine to decide when ukraine becomes a member is not for moscow to veto nato alignment. the most urgent task now is make sure ukraine is an independent
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nation president putin, russia, must not win this war we must ensure ukraine prevails. >> that was the nato secretary-general. and volodymyr zelenskyy also addressed the country's alliance as he arrived in moldova for the political summit sylvia joins us from the event this is the second summit. this is a huge day for european politics what is on the agenda? >> reporter: so first, let me give you color in case you see a lot of noise in the background and movement so you understand where we are we are covering the summit as you mentioned and there are 600 journalists covering the event a lot of colleagues in the area right now.
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we are seeing several leaders arriving for the summit in total, we are talking about 50 heads of state. there is a lot of momentum here for this meeting the main subject, joumanna, is security it is within the context that i had a chance to speak with the president of ukraine and volodymyr zelenskyy was the first on arrive for the meeting to highlight how important it is for ukraine to be present at the meeting. i asked how he is feeling from the comments from the nato chief that they are working toward a path for ukraine to join the alliance >> supporting us and we needal of the unity throughout the alliance we are working on it >> reporter: so the president of
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ukraine there highlighting for the time being that there is not unity within nato to provide that path for ukraine to join the alliance that is something that ukraine wants, of course he is also working toward that having said that, i had the chance to ask the prime minister of belgium the question and he explained for ukraine to join nato, that will be once the invasion of ukraine comes to an end. >> for the next month, it is important we continue with the support of ukraine we do it on so many dimensions for example, in framing future pilots for -- in training future pilots for f-16, it would be impossible to do that. now belgium is one of the countries stepping up to help. everything necessary to help the ukrainians to defend sovereignty
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are good sdeteps we see nato providing that support. those are the first steps. at some point, the war will end. then we need to take the steps to ensure ukraine can be stable and can get out of the difficulty in which they are in. there is some type of alliance and being part of the alliance will be an important discussion. first thing first. first thing now is help them on the short-term and next weeks and months will be important >> reporter: so the prime minister of belgium there making it clear in the short-term the focus is on providing ukraine with further help and military support and only in the second stage once this war has come to an end we talk about ukraine joining nato i want to give you a better idea
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how complex this summit is we are expecting 50 heads of state. that includes the prime minister of the united kingdom. to put the meeting together, moldova had to close the skies to air traffic nato is patrolling the skies to ensure the safety to all of the leaders gathering here >> sylvia, with all of thee who there? are they the president of russia, vladimir putin, these leaders here want to show the continent is together and both belarus and russia are isolated since that invasion of ukraine that is the first and foremost message these leaders have from
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this meeting more broadly, you ask the deliverables and will they announce further support for ukraine? that we have yet to see. nonetheless, this is an important forum for the president of ukraine because he will have the chance to speak to all of these leaders if he wants. this is a very informal meeting. it has been described as davos for prime ministers and presidents because they have the chance to meet on the bilateral and trilateral basis that allows them to have dialogue and coordinate foreign policy targets >> sylvia, it is amazing seeing the leaders cross our news screens all morning. three major news organizations have not been invited to attend the opec meeting in vienna. reuters and bloomberg and wall street journal have not received invites. the move could be driven by
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saudi arabia's energy minister who has led the group's series of production cuts. >> a remarkable story that one let's see how it evolves the meeting is on sunday there may be time for them to change the perspective and end up inviting those journalists. very strange one to be so selective about which media organizations get to cover such a high profile event coming up on the show, chatgpt boss sam altman is set for a meeting with brussels today to discuss concern over the technology we'll be right back. 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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when we started selling my health products online our shipping process was painfully slow.
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then we found shipstation. now we're shipping out orders 5 times faster and we're saving a ton. go to shipstation.com /tv and get 2 months free. 314-117. the bill is passed without objection, a motion to reconsider is laid on the table. >> house of representatives approve the debt ceiling deal heading to the senate days before the deadline. >> more than 2/3 of our
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conference voted for it. we got all the democrats who signed the discharge petition to say they would never raise the debt ceiling only raise it clean. we got them to vote for it, too. think about how much further we can go markets flash the odds of rate hike in june after two officials say they are in favor of keeping rates steady at the next meeting, but leave the door open. and ukrainian president volodymyr zelenskyy arrives in moldova while nato leaders arrive in oslo saying he is ready for the alliance. >> support with the bilateral meeting with him you know, we need all the unity throughout the alliance. we are working on it european equities open in the green in hopes the u.s. debt ceiling debacle is in the final
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stages there is still cause for concern after the german manufacturing sector contracts at the fastest pace in three yearars in may . let's get a checkof european markets as we said in the headlines, it is green across the board. healthy rebound under way after severe selling yesterday the stoxx 600 closed more than 1% lower at a two-month low logging the sixth negative session in the last seven. today is a different picture ftse mib is up 1.76%. it was the worst performer yesterday.
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d dax is under performing this morning up 1%. and let's see how the dollar is faring the euro trading weaker against the greenback. 106.74 sterling has appreciated over where it was trading recently. not a large amount of movement here is the picture for the wall street open. rebound there as well. not to the same extent we are seeing here in europe. yesterday, we saw risk assets struggle stateside we saw the defensives with healthcare and utilities rally it was a downbeat session. today is a different picture salesforce shares moved lower in trading despite the revenue beat in the first quarter. revenues for the period came in at 8$8.25 billion.
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the company posted higher than expected capital expenses and said customers are backing away from big consulting deals. the chairman and ceo mark -- marc benioff talked about the a.i. issues. >> he said the one issue was slack and using that from day one at open a.i. jim, all that data inside slack as we work on our own, slack will wake up and become intelligent and it will be a revelation >> open a.i. ceo is set to meet the eu president in brussels today. they will talk about the surrounding use of a.i
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altman has made several european spots. to discuss more is our guest here what a hot topic. >> what a hot topic indeed >> absolutely. let me kickoff with the question about your opinion experts have come out in the last several weeks and the heads of open a.i. and google deep mine warning that a.i. could lead to the extension of humanity incredible headline. is this sensational or rea realistic? >> before we go doom and gloom, let's take a step back a.i. is tremendously overhyped with all of the sensation around it i think it will be a beneficial thing to all of us overall like anything, that is beneficial and that gets a lot of power and it has to have
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responsibility that is the dialogue what is the responsibility what guardrails do we put on it? how do we manage it? it will take many years to get to the right place. >> can you give us color on what guardrails or regulations we should think about we see the headline words, but it is difficult what guardrails look like with a.i >> first of all, imagine all of us with the help of a.i. can become tremendously different. wee programmers. you could be powerful analysts i think the guardrails are what can it do and what is the ethics around a.i.? it will have data on all of us how do we put controls on it in an ethical way second, should it become more powerful than humans and is it
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serving us or are we serving it? that is a tremendous discussion. the third one is can it do things we haven't imagined and can we put some thinking around it >> all of those seem to be f philosophical questions. you will have an arbitration committee discussing it. when it comes to more administrative, you have to think of licensing restrictions so not everybody has access to a.i. or the people you license it to will be responsible. what about the fall back of having a human on guard? >> if you step back, a.i. is not going to be that powerful. a.i. with the help of data is very impactful we have to be thoughtful who has access to data and how can they
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use data with a.i. to do something? that will become very important. what about corporations? what about governments what about individuals i think a.i. by itself does nothing. living in the world of data, there is no a.i. that is where we go to the source of who has access to what and how do we put guardrails on it that is important for corporations and government to work together. >> looking ahead, you mentioned it could increase productivity all of us have been computer scientists i wonder what it means for companies in the coming years if you are not adopting a.i. and will you be left behind? >> i think so. this is one of these biggest step function changes we have seen and if you don't adopt, you will be left behind. i do think the government has a role to play to level the playing field. you don't want the big to become bigger and smaller to be left
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behind it is regulation not just on what a.i. does, but also level the playing field to make sure everybody has equal access to that do ywe all have access to freedo of speech? you and i should have equal rights to it and access to it just like the large corporations. >> when i think of our audience, a lot of people who watch are asset managers they have been joking the last few months, but sort of serious about the possibility that a.i. takes over their jobs. a lot of asset managers are using chatgpt with the grunt work is that a realistic possibility? will asset managers be put out of their jobs? >> in the short-term, yes, it will have us all running scared. it is helping my kids with the
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essays i think it will change with certain things that are hard for them to do and become easy i think it will change extension is still unknown. >> and chatgpt if 25 school kids all put the same question and they all have the same answer. teachers will be on to it >> if all of us become vanilla and all three of us did the same thing from chatgpt and got the same answer. what happens through a.i., we become one. that is not what we want >> we need edge. thank you for the thought provoking conversation >> pleasure to be here >> ceo of infomatica. two more republicans look to
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a nomination for the republican party. we will tell you who when we return 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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welcome back bill ackman penned a tweet calling on jamie dimon to run for u.s. president stating quote he is the person our country deserve as the next leader joumanna, hadthis is not the fi time jamie dimon's name has been put up for the nomination. this is something wall street would love now it feels it is gaining momentum based on what jamie dimon had to say yesterday >> gaining momentum on what? jamie dimon said he loves his country. he said that before. even you when you interviewed him a few months ago it feels bill ackman is trying to build a movement. the assumption is potentially
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that president biden may not run for whatever reason. although he has thrown his hat into the ring. the other assumption is if biden is running, that jamie dimon could have a chance of actually beating him and it seems very unlikely at this point in which case, it opens the possibility of the third party and as we know n the u.s., it is difficult to get critical mass behind a third party >> running as an independent doesn't work in the u.s. he would have to consider running as a democrat. many are thinking back to bloomberg and his run and the problems with his run is he was well known on the coast and in new york city. beyond that, he wasn't a household name he wasn't beloved by the broader nation the fear would be dimon would be in a similar position. >> i think you need to appreciate as well is the
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democratic party has representatives from across the spectrum center, center left, progressives and not everybody within the democratic party is actually supportive of a full business enterprise man. this is difficult to get dimon the full support speaking of politics two more republicans are ready to take on former president trump in the 2024 presidential race chris christie is expected to announce on monday followed by former vice president mike pence on wednesday something to keep an eye out for. the bill to suspend the debt ceiling is expected to go to the senate after it faced hard liners in both parties mike lee is expected to use every tool to delay and sanders has come out against the deal.
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senate leaders are optimistic the bill will be passed quickly. >> there has been a very good vote in the house of representatives. i hope we can move the bill quickly here in the senate and bring it to the president's desk as soon as possible. >> i can tell you what i hope happens. those who have amendments and given votes would yield back time so we can finish this thursday or friday and soothe the country and markets. >> very pleased to say ian shepard is here from pantheon assuming the deal gets passed, what is the outcome for the u.s. and finances >> the outcome on the economy is going to be modest
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first of all, the spending cuts carved in stone actually will happen last through 2025 all of the budget totals you have been seeing with the $1 trillion to $1.5 trillion can be undone or changed or remodelled by future congress what to focus on is what happens in the next couple years constrained on spending in 2024 in october and again in 2025 the impact on gdp growth will be a couple .10 in the next two years. it is not going to fundamentally change the extra je-- trajector. this will change in to 22025 there will be another fight whether to raise it again. it is a fix. it is not a macro deal
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it is fixing the cloud that is hanging over the market. the debt ceiling is a crazy idea in the first place and we haven't gotten rid of it. >> that was my question. we solved the issue short-term kicked the can down the road probably have another discussion next december and toward the end of 2024. is it time for the u.s. to think about abolishing the debt ceiling concept? is there any way that can happen >> yeah, it can happen there was a bill in the joint house and senate in the lame duck session last year to abolish all together it was shot down by the administration and democratic leadership in the senate because they took the view that mccarthy, the republican leader, would find it difficult to pass any debt ceiling bill. they enjoy watching him fail to do anything.
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mccarthy passed a bill and the democrats strategy of say clean debt ceiling raise or nothing was immediately out the window they read mccarthy wrong by doing that, they blew an opportunity during that lame duck session to get rid of the debt ceiling all together. that was a mistake they should have learned that republicans will always use the debt ceiling to try to extract concessions from democrats they would not get under normal circumstances. this has happened over and over again. they didn't take the opportunity to get rid of it thinking there is a short-term political gain i hope they would reflect that is a misjudgment and should the democrats hold majority in the house and senate again, after future elections, i would like to think this time around they would get rid of it. it is crazy. it is just voting effectively to pay bills that have been incurred by congress view of the countries have a
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debt sceiling. in truth, it doesn't serve a purpose and getting rid of it would generate nasty headlines for the democrats in the media, but everyone would forget about it. >> ian, we have to interrupt you. we are going to moldova where the dutch prime minister is speaking >> by the way, next to the f-16s, we need to work on expanding the patriot coalition. germany, netherlands and u.s ukraine is in need of more patriot missiles >> will it take a long time? >> this is step by step. we have seen last year and we wanted ukraine to get the services earlier this year, we have been pushing with the real parts. we have been able to do that we have to push on the f-16s and
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training will start. it is step by step the f-16s will not be there soon because updating airfields and strips and training is happening. this is a breakthrough >> give us your thoughts on how long you think the war will last >> it is very difficult to try to say how long it will last it is almost impossible to say the only thing i can say is we have to stay united. there will one of the things i'll push for today. there will be setbacksetbacks in any war, there is bound to be a moment of setback. then we have to increase financially and militarily we have volodymyr zelenskyy and his team they are making it easier for us to support them. you will see in the coming
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months where things are not moving in the right direction and that is the time to support >> that was the dutch prime minister there ian shepherdson, thank you for standing by. let's get back to the u.s. there is momentum building around the idea the fed could pause in their interest rate hiking path in the june meeting and potentially hike later this summer what do you think? would that be the right decision for the fed in your view >> no, i think they have done more than enough now t typically in the u.s., looking back from the 40 or 50 years, 300 plus is normally enough to push the economy in recession. the 500 points plus and the banking crisis, you will have enough to drive the economy down
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enough in the next year. i hope they do pause in june the data between the june and the july meetings is sufficiently soft to allow them not to hike period clearly, there is the idea and whether this is the tactical thing where they don't want to immediately say they are done. i know the data has been wild the last couple years. i cannot be sure the numbers will be benign in the june and july meetings. we have done more than they need and allowing for lags to bring the inflation down to target it is a widespread opinion on the economy with the decent chance the june meeting will see one or two expected rates by the end of the year. i think the labor market softening is key to this i think it is a decent chance for a modest payroll number and
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slower wage gains. i hope when they pause in june and i'm sure they will and that marks the end of the tightening cycle. >> ian, i have about a minute. i want to ask quickly what do you make of the health of the u.s. consumer? the numbers are stronger than expec expectations >> some of them have the first is strong because of the very favorable winter weather and the massive uplift to social security payments in january. we will see weak car sales number in may. my guess is that 1.5 is the indication of the trend we will see for the year the consumer is the not story. to the expectation of the recession, it is more likely to be corporate than consumer
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weaker cap x is what to look out for. the consumer isn't going to be great, but probably won't roll over people still have savings left over the thing to focus on is the corporate sector it is weak and weakening >> you know what that is a theme we will unpack the next time on the show. ian, thank you for joining us. ian shepherdson from pantheon. that is it for the show. we will leave you with a quick view of the u.s. futures i'm joumanna bercetche >> i'm julianna tatelbaum. thank you for watching "street signs. "wilke "worldwide exchange" continues after this 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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when we started selling my health products online our shipping process was painfully slow. then we found shipstation. now we're shipping out orders 5 times faster and we're saving a ton. go to shipstation.com /tv and get 2 months free.
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the subway series is elevating your favorite subs. why mess with the sweet onion teriyaki, chuck? man, this aint messin', it's perfectin'! with marinated chicken and double cheese. sweet and savory... ...kinda like you and me, chuck. bye, peyton. try the refreshed favorites at subway today.
5:00 am
it is 5:00 a.m. at cnbc global headquarters. here is the "five@5. we begin with stocks kicking off a new trading month in the green after the dow and nasdaq did something since the first time since the dot-com bubble. the bill passes the house and now goes to the senate what it means for mccarthy's future. and crude crush. oil off the worst month of the year and another key opec meeting this weekend and tal

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