number get those i want your reaction cheryl casone adp.242000 jobs adp coming in hotter than expected stronger than expected whatever language you want to use guys, this, of course, is ahead of feb s jobs' report on friday again, the expectation, 200,000, came in 242000. let me throw out here for friday looking for 203,000 nonfarm unemployment rate 3.4%. we have a lot of questions about revisions about that the rest of the week all about jobs and data. maria: we have a revision on the jobs out of january as well, but the february jobs' report, on friday is going to certainly be something we all focus on, the expectations 2003 job added to economy with ed hyman 242000 jobs added to economy according to adp your reaction? >> so, in turns out estimate for february employment, 250. >> spot-on. >> but adp number is empty suit i tell you so far off from time to time. but, you know, you take every suit that comes in, and, unemployment claims will get 15 minutes, and, we survey companies every week, economy is doing really well. maria: okay. >> ve

is going as quickly as jay powell hinted at does adp matter? we are in this new moment of data dependence that's going to be really interesting do we get an ongoing reject celebration? that see data difficult to parse through the accuracy and the market will trade on each of these data points because nobody else has a better guide. jonathan: payroll on friday. here is the chairman of the federal reserve. >> the latest economic data have come in stronger than expected. nothing about the data suggests we tightened too much. we have more work to do we are very far from our price stability mandate. the ultimate level of interest rates is likely to be higher than previously anticipated. the process of getting inflation back down to 2% has a long way to go we will stay the course until the job is done. jonathan: compared to what we heard from him in the news conference i'm not there so ago fantastic exchange. senator warren will play that a little later on. global chief economist and strategic investment management francis, what did you make of that?

i've always been somewhat skeptical of adp as an indicator. it doesn't matter to -- >> their track record is terrible. >> it doesn't matter what the number is, it's the perception to this moves perception are you getting a free look at an actual number being much better i don't know maybe. i think bad is already priced in. >> bad being good. >> right if adp is correct, i am not comfortable saying, yes, adp is always correct so i think you have kind of a free up side on cooler employment. >> even beyond the jobs report, it's the last -- you know, the jobs report has -- and the data points, but the cpi is the final data point we will get what has happened in the past month, in terms of energy prices >> some of those inputs have gotten higher. we talk about the used car market, which we rarely talked about over this show's lifetime. we talk about it seemingly every other week in and out, probably correctly show, but those inputs, the variables are starting to trend the wrong way for the federal reserve. if you think magically inflation will take

we need to look at job openings, wages, look at adp be. a plethora of indicators to look at to get a pretty good grasp of what's going on if the jobs market and that overall picture saying that it is remaining pretty strong, maybe not as strong as 500,000 number that we got in january would suggest but still pretty robust labor market given what's going on with the fed. maria: chris, tell us what's priced into the market already. do do you want to be adding to your portfolio here in stocks, chris? >> absolutely. again, this is where the real money is made in the markets is when obviously they back off to some degree and i look at things differently when it comes to the higher rates. for what my clients, i take a look at their cash positions and i'm actually getting some rate of return. where the federal reserve basically took a tool out of my toolbox for years. a lot of this cash position and my clients' portfolios are getting a yield, not to mention this will help pension funds around the country rebuild as well. they have to keep a certa

2007 the treasury yield curve most importance in september 1981 suggesting recession on the way the adp jobs numbers out this morning at 8:15 a.m. eastern don't miss it were expecting job growth that will get the report out a 10:00 a.m. eastern and the february jobs report of course from the labor department coming out on friday all hands on deck for the job numbers coming up first check european markets, we are looking at a mixed showing the s&p 105 points, the cat chron down six, dax index higher by 40 points all fractional moves in europe this morning putting asia overnight red across the board the weakest but was japan, up half 8% but look at hong kong down better than 2% on the session following wall street yesterday also i had the four americans citizens abducted by drug cartel mexico two of the four americans found dead. the other two are back in the united states. we have all the details all morning long, "mornings with maria" is life right now. >> mexican officials arrested one suspect so far connected to the violent kidnapping of four american citizens, the 24-year-old guarded

adp granularity?vides payroll services for over 25 million workers. we are tracking wages very carefully especially as the economy is looking in the face of inflation. we are seeing a little bit of a deceleration but still too high to be consistent with the 2% target. that speaks to the tightening of the labor market. it's not maximum tightness right now we've seen things come down. we've seen jobless claims go up. it's not at the maximum like it was in the summer and early for of 2022 but it's still very tight compared to where we were before the pandemic even though the unemployment rate is about the same. lisa: how difficult is it to talk about the labor market as a whole rather than specific parts? yesterday, in the beige book there was an anecdote about a construction company having to commission a plane because it was cheaper and more effective to get workers, than trying to higher in the region. how much are you seeing strength you never seen before in specific industries? >> it's a very fragme

stock price had quite the run up hitting an all-time high in december 2022, but since december adp stockeen struggling and down 20% from the three months from that high back from the level it first hit in july 2021 my first question do do you think it still has to run -- >> this is such a great question the stock ran up because as interest rates ran up they made more and more money off the flow companies give them the money and issue the paychecks to make the money in the it interim. but that was then, this is now people feel there's going to be more layoffs because of what the fed has done the answer is right now i can't endorse adp. i feel more comfortable with paychecks because small and medium sized are doing better. john >> hey, jim, love your show. i learn a lot from you >> thank you >> i was wondering what you thought of ambac financial group, they're trading at half a book value right now >> well, i think a book is suspect. and i think the business of guaranteeing is something i never got over as being negative in 2008. now, they could tell me, jim, we're not the you think we are

february jobs' report is out friday first adp on wednesday, a lot of economic data that will drive markets this week but take a look at last week was a win on the books dow, s&p nasdaq higher on the week dow gaining 1 3/14 nasdaq up 2 and 2 thursday% s&p 500500 higher almost 2% this morning, absence treasury yields this morning pull back below 4%. you do s&p nasdaq up, as you can see,,on week last week european markets meanwhile, set the tone in europe, and it is mixed. tt ft 100 down 48 cac quarante up 19, dax higher by 51. in asia overnight, mostly green across the board china was one weak spot china setting a growth target rate around 5% growth for the year, the shanghai composite down a fraction best performers korea, japan up better than 1%, back in washington, new evidence, to report on investigation of the origins of covid-19, house subcommittee first hearing happening this wednesday. to probe why scientists changes their story, theory weeks into pandemic after a phone call with doctors fauci and collins judiciary chairman congressman jim jordan discussed it with me on "sunday morni

adp comes in hot. our roadmap will

adp provides services for 25 million workers and 47% of them roughly are women and we see the pay gapsou close the gap? first you have to identify the gap. and that is really important not just at a societal level but a company level benchmarking that gap, going in and seeing where there are disparities with two people with the same occupation, same tenure, but there is a gap. the gaps are amplified over time and so that is why it is important to identify them and close them. >> and march is where we celebrate women in the economy and international women's day. year after year i do these stories and i look at these numbers and it is shocking that over the course of my career this gap hasn't really moved. and has been really kind of disappointing. >> that's right. but it can change and i think that is the important thing. we have ai do all kinds of things. one of the things that ai can to in companies, what data can do in companies, illuminate the pay gaps and with intention they can be closed. so i'm hopeful for the future. i don't think that we have to be disappointed forever. >> all

we got that adp number earlier on. hasn't is abated, for -- as anticipated, 4.5 bank of canada, no change. kailey: we are keeping an eye on the central bank of north. let's get more on the jolts numbers and bring in michael mckee. what are you seeing and what does it signal for the fed. michael: the headline number comes down. it is still very elevated and the number of people getting hired did not change all that much. 6.4 million. at this point, it looks like we are still seeing a tightly premarket. that is the lesson you would take away, the number of quits decreased by 207,000. the quits rate unchanged at 2.5%. people still feel confident. the number of layoffs did increase by 241,000. we are starting to see that. we have not seen it in the jobless claims. we will see if that starts to translate through. this is january data. this is not february data. if we have not seen it in claims already, one does not know what is going on, but the take away from this is basically we have not seen a significant change that wou

this is from adp, so this is sort of a little bit of a foreshadowing for friday when we get the big jobse have seen strong hiring, strong job creation and when you talk to ceos, one of their biggest concerns is not having enough workers. it's hiring, retaining top talent is still a big problem from grocery stores to big box stores to offices, even though you've seen all of those headlines of job losses in tech and a little bit in finance, overall, guys, we have still a very strong job market and we will get the jobs report from the government on friday. >> listening to his testimony yesterday there were some tense moments, particularly when the issue of jobs themselves came up. have a listen. >> if you could speak directly to the 2 million hard working people who have decent jobs today, who you're planning to get fired over the next year, what would you say to them? >> i would explain to people more broadly that inflation is extremely high and it's hurting the working people of this country badly, all of them, not just 2 million of them, but all of them are suffering under high inflation

adp comes in hot. our roadmap will start with higher for longer.nterest rates are likely to continue to rise, leaving some to question if 6% is really in the cards. >> the shares are moving. they are ground dated. >> we're stopping it. we're not being mean. >> petroleum is moving hi. >>> buffett's berkshire hathaway is adding to his stake in the energy company. i did not get that memo. >> day two of the feds chair's testimony on the hill. it will be the first big hearing for the new committee chair, patrick mchenry. even though you have been off a few days , you (the vocal. sometimes you sit down with people who know more than you, and you know that. what? without a doubt, that was an important thing he said. >> it was not like he was making any proclamations. aunt you just revise your thinking because someone who's really there, they go, this is how it has to go. inflation is awful. that interchange between senator warren, it should have flipped. the fed, elizabeth warren should be very worried about those swept up in inflation. instead, she's foc

centrally strangled china's economic development and going forward the chinese communist party has set adp target a 5 percent from the lowest targets we've seen in decades. and trying to really has to reboot some consumer confidence, suffering investment. it also has to deal with the ailing property sector and tried to stabilize the employment situation. so that really is piracy number one, kicking the economy into gear. the 2nd challenge really has to do with increasing tensions and rivalry with the united states. we've had increasing curves from ger biden's administration on chinese technology sons in particular, in prison. she didn't ping himself, said earlier this week that that was causing unprecedented and severe challenges for china's development. so during this and p. c, what we're going to see is a lot of that restructuring to allow china as you become more self relied when it comes to it's innovation when it comes to it's technology going forward. because because of that, they're going to see a lot of changes in the ministry of science and technology especially allowing it to bec

the payroll company adp put out numbers that show that private employers are still adding jobs, and thatlled jolt research which stands forjob opening and labour turnover. it showed that for every available worker in the us that there are nearly two jobs. meanwhile, worker in the us that there are nearly twojobs. meanwhile, fed chairjerome powell was getting a drilling from congress and againfinding a drilling from congress and again finding himself the sharp of complaints that by raising interest rates to cool inflation he is deliberately seeking to destroyjobs. seeking to destroy jobs. sometimes, seeking to destroyjobs. sometimes, and for some people, a strong job market is really a curse as much as it is a blessing. steven blitz is chief us economist at ts lombard in new york. stephen, thank you for staying up stephen, thank you for staying up so late for us. ida stephen, thank you for staying up so late for us.— up so late for us. no problem. what do you — up so late for us. no problem. what do you think _ up so late for us. no problem. what do you think then - up so late for us. no

many— adp pa, the committee incorporated many of— adp pa, the committee incorporated many of these importantok forward to working with chair and the ranking and i look forward to working with chairand the ranking memberto make that happen _ chairand the ranking memberto make that happen. mr chew, tiktok has incredible — that happen. mr chew, tiktok has incredible sway over children in the us. incredible sway over children in the us but _ incredible sway over children in the us but you — incredible sway over children in the us. but you don't have a very good track— us. but you don't have a very good track record — us. but you don't have a very good track record. in 2019, tiktok was hit with— track record. in 2019, tiktok was hit with the — track record. in 2019, tiktok was hit with the largest civil penalty by the — hit with the largest civil penalty by the federal trade commission in a children's— by the federal trade commission in a children's privacy case. four years later. _ children's privacy case. four years later. tiktok— children's privacy case. four years later, tiktok still has not

adp, employment reports and mortgage applications data, ahead of nonfarm payrolls. and they will be certainly followed by a closely watched fed chair jerome powell. it will be a second day of testimony on the hill. 3:00 p.m. u.k. time, bank of canada's rate decision is due. they have been talking about pausing, will the town change? powell's hawkish tilt. we dive deeper into the fed chair's comments and market reaction. plus, an exodus of women leaders during the pandemic is setting back the effort to diversify the c-suite. we will look at efforts to diversify the financial sector later. this is bloomberg. ♪ >> the latest economic data have come in stronger-than-expected. nothing suggests that we have tightened too much. inflationary pressures are running higher than expected. we have more work to do. we are very far off from our price stability mandate. ongoing increases in the target range for the federal funds rate will be appropriate. the ultimate level of interest rates is likely to be higher than previously anticipated. getting inflation back to 2% has a long

stuart: that's contradicted a bit by the adp report this morning where we had 242,000 private sectorobs, which is a strong job market. it's inconclusive really. lauren: the fed looks at all of it. jobs friday. stuart: a downside mover about 30 points lower and off 100 points on the dow. lauren, thank you very much. now this. i've said it many times, endless speculation about what the federal reserve is going to do is boring. we do not clutter up this program with inconclusive fed watching or we try not to. however, for those interested in politics and money, yesterday's fed testimony was fascinating. there was a five minute exchange between elizabeth warren and jay powell. jay powell exposed the foolishness of socialist economics. senator warren, socialist, insist that had inflation was the result of price gagging, supply chain -- gouge, supply chain problems and the war and the price hike would force 2 million more people out of work and disapproved of fed policy. powell responded quietly that inflation hurts everyone. that if nothing is done, inflation gets worse and working people

. >>> ahead of a slowing gnomic data on tap, feddal adp employment, federal chair testimony and the keysecond day on capitol hill as he testifies before the house financial services committee at 10:00 a.m. eastern, cnbc will have full coverage of that testimony >>> all right, let's dive into that powell testimony, the kmirk and what it means for your company for jeff kilburg and ivory johnson. great to have you on right now. >> thanks for having me. >> good morning, frank. >> jeff, i'm going to start with you. yesterday we saw traders pinning the odds of a 50-point basis hike yesterday now surging more than 70%. what does that say about what you're expecting in the markets today and beyond >> it really reveals, frank, that no one really knows what's going come out in the jobs report on friday it's fascinating to see that surge of expectation but what's fascinating also to remember is just last week we got so encouraged when bostic, fed chairman came out and talked about 25 basis points. so i think the market is really ahead of itself. maybe they got way too ahead of itself when we thoug

into that commentary, yield on ten year down 1 1/2 basis points a level sitting at level of 3.947%, adp out tomorrow on jobs followed by february jobs' report on friday, the economic data of the week likely to set the tone for markets, yesterday, stocks extended last week's gains in fact, dow now up 5 of the will have a six trading sessions, said and done dow industrials up 40 points yesterday nasdaq lower, closed down 13 points s&p was higher by about 3 points, at 4:00 on wall street european markets like this take a look at eurozone ft 100 in london higher 23 points higher cac quarante flat up just about two-thirds of one point the dax higher by 5 points fractional moves in eurozone as well ahead of jay powell's speech. in asia overnight markets mixed, the chinese marketed the weak spot shanghai composite down better than 1%, china new foreign minister taking aim at united states yesterday, warning of conflict if useptember does not quote hit brake as xi jinping blames united states for trying to suppress china during annual legislative session in beijing fbi demanding dangerous mexic

the reason could have to do with the data we got, the job openings and the adp report were higher than expectations that is, they lean towards whatever betting you might be making on a more aggressive fed rate hike. >> steve, real quickly, the jobs opening report, we did it with a lag, but there was some moderation, but there are still a lot more openings. this one not exactly showing that the fed is slamming the brakes on hiring demand. >> this is one of those things even if it's half wrong, it's still too high that's kind of the setup for the jobs report we will get on friday if it's half of the pace of january, it's still too high so it doesn't seem like at least in raising rates now the fed is in danger of making too much of a mistake here i think that may be true later on this year but bringing up the funding rate and the action right now in the bond market, which is helping the fed slow the economy, it's got to be helpful. he is getting some pushback from some of the more liberal lawmakers about the impact of it but they just don't have a better response, which is if you want to

we'll see what the adp numbers show.g 203 jobs added to the economy. aadp report is expectingjob groe sector jobs. how do you have a recession, a stock market selloff, a crash when we get this kind of job growth? >> well, if you look back at 2000, right, the biggest number in jobs right before the 2000 of drawdown, the strongest numb the previous year and-a-half was right before the market buckled. one of the weird things is, adam's alluding to to this, making a good point, jobs are strong. strong. we run an institutional chat with 650 investors around the world and one of the things they're talking about is when you have the january number that was so spectacular, it's gotten a lot of people excited about a soft landing but if you look back the last 20, 30 years, when you have the seasonal adjustment in january, when have you that spectacular outperformance which is seasonal, typically there's a mean reversion in february and march and that's why you probably get like some nice -- a move of down in jobs which will help

getting slammed for considering a policy that would detain migrant families at the border, and here is adpe kicker, "biden's reelection bid facing resistance from some democrats. okay, jesse, i absolutely have to start with those maga republicans, they want to take away the law, they want to defund the police, you know, in addition to being evil, they really want to destroy your life. is this working for him? >> jesse: um, they poll-tested maga, but i am i'm bored already talking about the budget. this is happening every single year. so the democrats come in and say we are going to raise taxes on the rich, and the republicans come in and say you are not going to raise taxes on the r rich, and then neither side cuts spending, and then the debt blows up. it happens every single time pair to the left says you don't care about poor people, you don't care about minorities. and the right says you guys don't care about the budget, and nothing ever happens. and we are going to play the same game and he is going to propose something about tax hikes, and the republicans have the house, so that is no

the adp jobs numbers out tomorrow morning followed by the february jobs report on friday.e've got a lot of economic data this week. that is setting the tone. stocks meanwhile extended last week's gains yesterday at the close, the dow now up five of the last six trading days. the nasdaq is down 13 yesterday, s&p 500 flat, up about 2 points at the close of trading. meanwhile, european markets this morning trading this way, the ft 100 is higher by 17, a quarter of a percent, the cac in paris is up 14 and dax index higher by 35 l. in asia overnight markets were mixed. the asian indices finished out fractional moves with the biggest mover the shanghai composite, down about 1% on the session. china's new foreign minister taking aim at the united states this week, warning of a, quote, unquote, conflict if the u.s. does not, quote, hit the brakes as chinese leader xi jinping is blaming the united states for trying to suppress china during its annual legislative session in beijing yesterday. the fbi meanwhile is demanding dangerous mexican cartels release four kidnapped americans t

we've got adp number out on wednesday. we get the february jobs report out on friday.hat do you expect, mike, and do you think we're going to get a substantial revision in the january number? >> you know, i don't know about a substantial revision but i think the assumptions that the statisticians at the bls, bureau of labor statistics are using to compile the numbers are just wrong. the labor force changed dramatically in a post covid world and i think these numbers of jobs that were coming in, it just can't be relied on the way it used to and historically there was always a margin of error in all of these data points that come out but you could compare, say, august of 2018 to august of 2015. i don't think you can do that right now. i think they're trying to figure out their seasonal adjustments on top of the assumptions that go into their model. december of 2019 we had 154 million and change workers and you now we have 155 million yet somes how we've added millions of jobs and we've had 3.4% unemployment rates even though the labor force grows by over a million worker

adp adding an additional 242,000 jobs for private payroll. market, abby. >> the economy is roaring, but unfortunately that is not good news for interest rates. rahel solomon, thank you very much for all of that. >>> and that does it for me here on cnn's newsroom. thank you for joining me on this international women's day. but don't go anywhere just yet. we have much more news ahead right here on cnn. hehey david! connect with an advisor to create your personalized plan. let's find the right investmements for your goals. okay, great. j.p. morgan wealth management. this is going to be great. taking the shawl off. ok i did it. is he looking at my hairline? is plaquesoriasis making you rethink your everyday choices? otezla ia pill, not a cream or injection that can help people with plaque psoriasis achieve clearer skin. and no routine blood tests required. don't use otezla if you're allergic to it. serious allergic reactions can happen. otezla may cause severe diarrhea, nausea, or vomiting. some people taking otezla had depression, suicidal thoug

at adp, we understand business today looks nothing like it did yesterday.npredictable, its possibilities are endless. from paying your people fr to supporting your talent everywhere, we use data driven insights to design hr solutions and services to help businesses of all size work smarter today. so, they can have more success tomorrow. ♪ one thing leads to another ♪ real zero energy is coming... and yes, that means cutting carbon emissions... but it also means cutting costs. because now clean energy is more affordable energy. we've been investing in american infrastructure for thirty years... lowering electricity costs today, and protecting from volatile energy prices tomorrow. so walk with us— and let's make cutting energy costs real. everything's changing so quickly. before the xfinity so10g network,s— we didn't have internet that let us play all at once. every device? in every room? why are you up here? when i was your age, we couldn't stream a movie when the power went out. you're only a year older than me. you have no idea how good you've got it. huh?

adp put out the employment numbers for the month. this is something happening a whole lot more.nnot compete. 60,000 jobs lost in small businesses in part they can't pay higher fees. they can't afford to have people working from home. this new paradigm shift, it comes at a cost, maybe, maybe it won't be for a long time although my next guest says the die is cast, and no turning back. we have jim bianco. up front i am still not convinced, i'm still not convinced. why are you cone vinceed this is it and we won't go back? >> first of all to answer the question, let's be clear, only half the jobs in america can be done remotely. the other half you have to go into a place of employment to do. for those done remotely we pay people on proficiency, how well do you do your job. we don't pay them on collaboration, how nice of a person are you in the office, around the water cooler or in the meeting? since we pay people on proficiency, if you get it done remotely you have accomplished the basic task of that job. charles: i speak to a lot of ceos, small businesses, large businesses they are

we've had adp, we've had jolts now. what are you expecting in the morning in particular if, if there's a revision to january? and it's lower? what does the market co? >> and i, i actually think that we will see a revision to the january numbers which were just such a blow outnumber. blowout if number. i think it's a combination of what do we see in february. if february is a strong number being 230, 24 to -- 240, 250 which, obviously, is not as high as january was but still a very strong number, that's going to be a big problem. i think we come in right around that 200 number which is what is expected, and i would think that january is going to get revised down. but the market activity you're seeing right now, cheryl, over the last 45 minutes or hour right now, there's a lot of people anticipating the still a very hot number storm and that this market is headed south because of that. you know, the weekly claims that we got this morning, great. service the higher than expected. -- it was higher than expected, the market

so adp, that was the number, okay home base, that's a regression they do.if you use their data, it comes up with a number of 300. the census bureau business pulse, 325 and 475 all of the data out there is pointing towards a stronger than expected report this morning >> okay. >> steve, stay with us we're going to bring in the voice to talk more about this, about what we're seeing both in the markets and in washington. peter orzag is here, the ceo of financial advisory at lazard and the former director of the office of management and budget under president obama. peter, an interesting morning. a lot of things we're trying to dig through. can you offer any help or any insight to point us in the right direction? what do you take out of this spv situation? >> i think it is potentially dangerous. a couple of points, first, let's look at the direct impact. the most likely direct impact is on the tech community itself battered by valuation, but a lot of these companies have relied on this particular bank for liqu liquidity, they'll have to go elsewhere and expect s

ahead, we have an adp employment report.ne: we are watching where the treasury market is, the inversion is looking scary, when it comes to how stock investors are looking at this. let's cape cod up with the latest business flash headlines. shares jumped war than 20% after the singapore tech giant delivered its quarterly profit earning $.72 a share on revenue of $3.54 billion. analysts had expected the company to report a loss of $.64 a share. the ceo attributes the bottom line to efficiency and profitability efforts. elon musk is seeing brighter prospects for twitter, he expects the company to breakeven on a cash flow basis in the second quarter, or go positive. musk told the conference how he was startled how little money the company receives. he knows the cost of servicing twitters that is around $1.5 billion annually. intel is seeking more subsidies from the german government to move ahead with a chip plant in the eastern part of the country. the chip designer wants an additional four to $5 billion euros on top of the a d

mortgage rates, that's the front page of the -- tomorrow's the first day of the rest of our lives with the adpwork 250? >> i don't do the work anymore, joe. it's useless the idea of -- the only thing we have is some of the new high-frequency data, joe, that i haven't worked out a model for but i had an old sort of conventional model that doesn't work and hasn't worked for two and a half years since the pandemic started if i could just for a second -- go ahead >> no, i was just wondering, is there a consensus out there? it's two and change, isn't it? >> sorry, yeah, 2.25, which is still too strong for the fed remember, we have population growth of about 100. >> way too many people with jobs >> it's terrible it's terrible. and that gets to where we start here, joe. because powell comes before congress with that employment mandate. i guess you could call it accomplished, but his inflation mandate running well above the fed's target but he has one thing going for him. the market is in place to do the fed's work for him and i think powell is going to try hard not to change that today. take a look.

on wednesday, adp and then thursday is the initial jobless claims and friday is the february employment report this is late that is march 8th. the economy added 200,000 jobs after january's 517,000. >> today's the 6th. >> today's the 6th yeah the 10th very late. >> yeah. i'm flying on the 10th in washington, jay powell will testify before congress tomorrow and wednesday on how the central bank is thinking about inflation in the pace of rate hikes. earning season slows this week there are a few reports of note. tomorrow is dick's and then campbell's soup. >>> and now guidelines for foreign technology senator mark warner would introduce the bill to ban or prohibit apps like tiktok. warner is a democrat and said he is working with republican senator john thune he is not just concerned about the security of the data, but the type of content they are seeing he is worried that tiktok could be used as a propaganda tool senator warner will join us tomorrow on "squawk box" at 7:45 eastern time >>> republican senator josh hawley is expected to introduce a bill today to ban senior executive branch

become an agent of innovation with invesco qqq at adp, we understand business today looks nothing likeday. while it's more unpredictable, its possibilities are endless. from paying your people from anywhere to supporting your talent everywhere, we use data driven insights to design hr solutions and services to help businesses of all size work smarter today. so, they can have more success tomorrow. ♪ one thing leads to another ♪ >>> welcome back to "squawk box. goldman sachs delivered its new vision to investors yesterday but didn't get a particularly warm reaccepting stocks slid 3.8% david solomon spoke on mixed messages around promises to scale up and signal that some parts could be sold. this was particularly true around the consumer business which we talked to david about yesterday. he wrused the phrase "strategic alternatives" at one point this is the credit card business or apple for general motors, how much they're losing on that, still an open question and what they can really do the with that he leaned in and thought there were mistakes made but there were ways to fix them, but

at adp, we understand business today looks nothing like it did yesterday.ts possibilities are endless. from paying your people from anywhere to supporting your talent everywhere, we use data driven insights to design hr solutions and services to help businesses of all size work smarter today. so, they can have more success tomorrow. ♪ one thing leads to another ♪ >>> up nt,exmoisturizers & 3 vis the numbers when we return moisturize your dry skin. gold bond. champion your skin. meet jessica moore. jessica was born to care. she always had your back... like the time she spotted the neighbor kid, an approaching car, a puddle, and knew there was going to be a situation. ♪ ♪ ms. hogan's class? yeah, it's atlantis. nice. i don't think they had camels in atlantis. really? today she's a teammate at truist, the bank that starts with care when you start with care, you get a different kind of bank. >>> welcome back to "jacsquawk box. rick santelli here we're looking for 2.5% disappointment, 1.7. that's a real disappointment because it's replacing 1.6 -- excuse me, 1.7

was that after adp? it was a huge turnaround after the delivery of the front end of the curve.and rally pretty steeply. really, it is the short end. we have seen a complete repricing of that rate hikes. jonathon: i think people are just doing copy paste from other people. we believe the u.k. has a robust banking system. have we heard that from the u.s.? yes. from switzerland? we heard that yesterday, didn't we? lisa: yes, and even australia. they came out and said our baking system is kind of the cut and paste. jonathon: they are dammed if they do and dammed if they don't. francine lacqua has done a phenomenal job of pushing the story forward. she joins us now from zurich. they now have a robust banking system. francine: it pains them saying they have a robust banking system. i spoke to a couple of people on the ground saying that gay leaders were a little slow to the game. they took issue that in france, regulators, as soon as something happened with credit suisse, they came in and said we have got this. we did see the story developing very quickly in the last two or three day

not adp, but what do we do with initial jobless claims? we got it wrong last week.america. lisa a.: people have said this is perhaps not a relevant statistic, but even if the companies are posting fewer jobs that could possibly indicate that there is a softening in the hiring. not necessarily the firing because those would be the unemployment benefits people were filing for. do we see the payback we did not see last month and that revises that 500 level to make us believe we are seeing some kind of moderation? tom: a survey from 300 -- how about march 15, off our radar the day after cpi, there is a retail sales report. it is gloomy. we don't have to go into the numbers because they will change before the 14th. it is a gloomy expectation out there in the market. lisa a.: that is basically what i was going to say. they have been gloomy expectations for a while and every time they have common gangbusters -- they have come in gangbusters. you can see this as a trend throughout. how do you put this mush together and then hold true to some theory? tom: i know john podesta

jonathan: twos-tens right now is -96, all the way back from 110, pushing 111 after the adp report a coupleield has come all the way back in. in other eight basis point move this morning. just an unreal move. off the back of the risk aversion. the belief that chairman powell lowered the bar for 50 and then they raise the bar for 50. tom: the reality is it is not that it is won. we have three banks in the vista end of the weekend. and maybe more we do not know about. jonathan: coal mines will prevail, all of that good stuff. bramo is going to talk about svp in a moment. fantastic bank analyst says that we want to be clear that we do not believe there is a empty crunch in the banking industry. the headwind is the cost of liquidity is high. we are going to have this conversation all morning and can talk about idiosyncratic issues, existential threats at all of the above. does not mean that what is happening is not worthy of attention. there is a profit problem here. lisa a: the issue is the profit issue. yesterday you saw that when the kbw index. just svp but also jp morgan. get today, they ar

but it is worth noting, we did get private data earlier this morning from adp that came in better thanore women are returning to work. that's doing more to help the economy. that's according to a report from the "wall street journa." women have gained more jobs than men going on four consecutive months. during the pandemic, an associated lockdown and shutdown of the economy and then subjects kwens restart, it hit women harder. much of that having to do with child care responsibilities. now that those fears are dissipating, women are resquoining the workforce. and speaking of on this is international women's day, we turn ur attention to the girl scouts. it's cook key selling season. but good luck finding that rasp berry variety. the online only special cookie offering was sold out almost instantly upon departure leaving scrambling to find the cookie. those boxes are usually $5 a piece. they are now going on the secondary market sites like ebay for three to four to ten times list price. i have a daughter in gurl scouts. i know. i tried to order. i could not get them. >> $80 a box. i love