dp out to cheryl casone with numbers cheryl: 296,000 private payrolls added according to adp this isotter than expected estimate for 148,000 jobs added again private sector jobs, 296,000 you might as well call this 300k, obviously, futures taking a jump on this news, this ahead of jobs' report getting that, on friday. there were only expecting 180,000 on friday, for nonfarm. but, 3.6% unemployment rate but i got to tell you, some estimates may change, based on what we're seeing with adp, not always in line with job reports on friday still much hotter-than-expected number big jump on adp. maria: cheryl look. this exactly what we were talking about with nick timiraos said if we have hotter than expected data it may very well keep the fed in play in terms of raising interest rates, i am surprised this market is not reversing course doing gown. cheryl: to your point, the fed we will get that decision today. the quarter point expectation is still out there, but, again, does this mean the next meeting getting another quarter point? that means job may not be over, that may be a mart negativ

we have the adp report in 15 minutes.lisa: it is also a deeply lagging indicator at a time when fast indicators are indicating some slack in the labor market. at what point do you wait? at what point do you wait to see what the effects are before making another move, or can they not afford to because of what we heard from victoria hernandez? inflation is still the primary concern. tom: i would fold it into a global view. you center on the ecb. lisa and i are removed from that. they are all in the game of trying to game out there ex post view. jonathan: compare that to the euro zone bank lending survey, where things looked pretty tight. do you want to wax ex post? the -- citi does not think you get that pause. he thanks 25 today, 25 in june, 25 in july. tom: -- lisa: on the other cited of this, a lot of people agree with the inflationary push. automakers are cutting prices to compete. you get an idea of how much disinflation is coming in. this is the push and pull. tom: taylor swift did two nights in las vegas and with her

adp april payrolls out in minutes.ad of the opening bell investors wanted better guidance from the coffee giant following what was a fabulous earnings report howard schultz's last. we'll speak to the cfo as the final hour of "squawk box" begins right now >>> good morning and welcome back to "squawk box" here on cnbc live from the nasdaq market site in times square i'm joe kernen along with becky quick and andrew ross sorkin we're seeing a little bit of a bounce this morning, the nasdaq up 35 or so. in addition to all these earnings, we also have the fed we're going to get a decision. and is it friday >> yes, yes! >> what a week what a week. there can be quiet weeks where nothing happens in the general news we've got this every three months, we get the earnings. the fed, we know they'll be around meddling. a 10-year at 3.39. that yield dropped again yesterday on slowdown, below 4% again on the 2-year. >> officials saying ukraine tried to attack the kremlin with two drones last night. the kremlin saying it considers the

with us now, the chief economist for the payroll firm adp. to describe this jobs report and i keep looking at the numbers is bafo. how do you see it? >> that wasn't the first word that came to mind, but it's a very strong report. and you know what made all of the difference? the difference was made by the fact that people came off the sidelines and into the labor market. we're seeing labor force participation rate in this report for prime age workers finally exceed what it was before the pandemic. that's good news for labor supply. and it means that the labor market has momentum in terms of hiring too. very strong report, and any adjective you have that rhymes with strong is great for me. >> bafo does not rhyme with strong, but it means the same thing. in terms of where we're seeing these jobs being added, it's service sector, largely. professional and business services, health care, leisure and hospitality. talk to me about where you're seeing strength. >> exactly that. in those consumer facing services. recall that when the u.s. lost 20 mil

neil: so we get a strong adp jobs report here. oil doesn't move.ct it goes down even further, off 4 1/4%. couple days ago at 76 become as barrel, down to 68. could be sign of contracting factory sector in china. i had no idea. fortunately lou and erin back with us. they do. lou, to you what is driving this? >> we're going to all electric vehicles by january 2024. we don't need oil. forget about it. don't worry about pulling it out of the ground, permitting doesn't matter. simplest answer applies. reflection what people think will happen in the global economy now. fed hikes again. hike twice. will blunt demand globally. neil: all banks are doing it. australia stunned people doing that today. is that it? >> i think it is not just the u.s. demand. i think when we look at crude prices that is about global demand. i think we're looking slowing from europe. slowing from china. those are the bigger, like big drivers as well, what we're using for crude oil. i think other regions are also having a big impact on that. i think we're looking at global slow dow

adp's wage data have drawn from a much ush much -- it is showing it declining but high.ok at what's happening in the adp data than the government data >> really? >> yeah. they have like 13 million inputs and i think it's like ten times less for the government. >> adp it has nothing to do with the alarm system company i got a sign up. >> totally and surely as my -- they've been very good about the economic stuff jason, you been out to fresh pond this year yet >> we're desperate to have you come, joe. they have a standing invitation. >> i love that course. steve, thank you big concert coming up. >> central park. free dead in the park. >> is this going to wreak everywhere >> we're actually sponsored by a can a bus company 2023, good god. nada, thank you. >> i'm on stage doing my thing and whatever's happening in the crowd, i cannot be responsible for. >> thank you to the people from central park for your services >> it's all legal. >> it's not legal. >> when we come back, everybody, more insight on the labor market and reaction to a dizzying week for financials we've got le

at adp, we use data-driven insights to design hr solutions to provide flexible pay options and greaterkforce visibility today, so you can have more success tomorrow. ♪ one thing leads to another, yeah, yeah ♪ >> joey: fox news alert, border agents bracing for a busy week as migrant shelters fill up to double capacity. >> ashley: if you ask the biden administration, they will say it is going smoothly. alexandria hoff live from washington with the latest. those shelters, it is unbelievable to see. >> alexandria: you are right and those are people already in the u.s. alejandro mayorkas says there has been a 50% reduction, compared with the week prior. mayorkas credits drop to criminal penalties resuming in title 42 absence, same time the texas national guard stepped up entry blocking and mentioned the processing center. severe overcrowding there. this is in el paso, congressman tony gonzalez says this was six times capacity with 6000 people on site friday. sources tell fox news they don't expect the crossing to last. from delaware yesterday, president biden said this. >> how do you think

i don't know whether i care about the adp number, alix. think there's some things the fed will want to walk through. mike mckee joins us to walk us through what these numbers are, telling us your read. michael: you give me some extra time as you enter the number's to go through them myself. i think what we are seeing here is a sort of status quo in the service industry that supports the idea that we are not right on the cusp of a recession yet or even a significant slowdown. the services pmi takes up just a little bit, not a whole lot. business activity falls while new orders rise. there is some counterbalancing in these numbers. the employment number stays positive, which is good news. the prices paid number are basically unchanged. it does not suggest rice's are going down, which is what the fed would like to see. it puts pressure on the fed to maybe not give up the idea of future rate increases if inflation does not come down. it certainly gives them a way to say that we can pause and see what happens. alix: no reaction in the bond or s

. >> the bay area native marine corps adp surety listed after 9/11 and served in iraq. he spoke of his best friend, phyllis sniper, matt ingram. best friend ever said, calling in an airstrike to ensure his remaining team members could make it. any soldier. the letter was from a young girl who attended his alma mater, writing to thank the soldier from the bay area who lost his best friend in battle. >> i realized this is what memorial day is about. the opportunity to honor those who have served, those who have lived with us and given everything for us. when i look into the ground, i understand why it is men and women like mad give their lives. it is because of young like angela. we love this republic. we love this country with all her heart and we are willing to do anything to be able to preserve this american way of life. >> on this memorial day, we say thank you in san jose. dustin dorsey, abc 7 news. >> be glad to weekend. businesses say it was not the summer kickoff they hoped for. zach fuentes explains why. this is a destination for people in other parts of the bay

wages, though, going higher across the board 6.7% in the adp numbers. so the wage story remains. that's theproblem because that's what the fed is looking at they want that to come down and it's not coming down it's very sticky you asked has anything changed nothing has changed. the fed will continue to keep rates where they are the one thing yesterday, there was a 50% chance the bond market was pricing in, a 50% -- >> 60. >> i saw 50% >> by the end of the day -- the bottom line what you are saying the market is pricing in cuts sooner >> yes, yes. the bond market is pricing in eight cuts by mid--2024. it may not happen in july. i don't think it will happen this year, though, scott the numbers are still so resilient on the jobs front and on the wage front. i highlight both of those things that's been the bright spot. it's encouraging but it will not change the fed and their path higher for longer. >> we'll see what the regional bank story, rob, does on that very question, whether that changes the fed. it's tempered the optimism from even the most bullish of people like tom lee, for

. >>> let's bring in a chief economist from adp.> that's right. i mean, it comes from really keeping your eye on what matters and consumers drive 70% of the economy. so what some golfers do that are really, really good and want to line their shots, they mark the ball. so i'd mark it with the consumer. and what we've seen is over the first three months of the year, consumer strength was there. it is really other things around the consumer that looks a little shaky right now. and that is what might affect the consumer as we go into the rest and second half of the year. >> so ten rate hikes in a row. is the inflation fight working? >> it is working. but it is not working quickly. and that is the issue. there seems to be a bit of stickiness in inflation. so it came down quickly. earlier on, it came down from the 9%. but it is starting to stall out a little bitten about and inflation has shifted. it has gone from supply chain logjams which has to ease, and that is great news, and energy price which is have also come down, but shifted in

for apple out tomorrow we have a preview, a snapshot of the private sector job as we get the april adpumber this morning at 8:15 a.m. eastern and head of the april jobs report coming out on friday we have all hands on deck were expected to gain of 148,000 jobs for adp. european markets, take a look at the eurozone s&p 100 higher by 20 points, the cat, 54 that is three quarters of 1% the dacs index in germany higher by 103, two thirds of 1% in asia overnight a mixed story take a look at the asian embassy the best performer shanghai up 1.1% the hong kong down 1%. then president biden is sending 1500 active-duty troops to the southern border ahead of title 42 expiration date eight days away, joining the conversation all morning long bull's-eye american ingenuity fund manager adam johnson and opinion enterprise founder joe pinion right here "mornings with maria" life right now ♪ ♪. maria: it is day two of the f1c's policy meeting the federal reserve expected to raise interest rates again this afternoon by a quarter of a point this a be the tenth consecutive rate hike since last march the d

we saw the adp employment number out this morning. it beat expectations by almost double.tions is, people are still coming off the sidelines to take on new employment. and while that job, while the employment market is still healthy, people feel like they lose their job, they can find another one, they can pick up extra hours. they're willing to spend the extra dollars even in the face of elevated inflation, adding to the cost of everyday goods. charles: talk about a new wild card since last time you and i spoke, this banking scare which could turn into a bonafide credit. tighter to credit access to credit is tighter, access to money is tighter. shouldn't that affect spending? >> interesting to see how the trickle down will happen because when you have the regional or smaller banks fail, the folks that really get impacted first are small businesses because those are the primary customers of those banks, so, access to credit, for smaller businesses is tightening dramatically right now. then that does start to have a trickle down effect, right, on employment, on wage growth,

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at adp, we understand business today looks nothing like it did yesterday.ibilities 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 ♪ >>> tonight pay up. that is the message from president biden who wants airlines to pay customers whose flights are canceled or delayed. this is a proposal that obviously would be fairly popular one could imagine. it comes as he is facing some of the lowest poll numbers in his presidency so far though so whether this will move that is another question. but a new "the washington post" poll came out that shows 36% of voters approve of the job biden is doing. 36%. that is the lowest in his presidency. in a head-to-head match up with trump biden loses, 44-38. that is not close. out front now van jones former special adviser to president obama. just to be clear here, the approval rating is the lowest of biden's

you talk about the adp private payroll figures that exceeded economic forecasts, rising the most in about nine months. and then you have the case for the latter, the case for a pause. the latest ism business activity index, downshifting to the slowest pace of growth going back to may of 2020. now, a fed hike today would bring the federal funds rate to a range of 5% to 5.25%. the highest going back to oh seven, a level that has forced investors and money managers to adjust those baselines and adjust those allocations. that includes a reassessment of equities, alternatives and a much bigger way fixed income. franklin templeton has more than $1.5 trillion in assets under management. that's across all those asset classes as well as a few others. founded back in the 1940s by rupert johnson. and for the last three years, it's been led to the person sitting to my left, jenny johnson. the president and ceo of franklin templeton. great to see you here on the milken stage. thanks for having me. let's start off here. there really isn't much debate about the actual policy rate. most people expect tha

what if it's hot like adp, and what if it doesn't >>> paramount missing earnings, cutting the shares and now a credit rating downgrade at s&p we'll look at the worsening problems when "the exchange" is back, right after this dow is down. >> announcer: this is "the exchange" on cnbc. lily! welcome to our third bark-ery. oh, i can tell business is going through the “woof”. but seriously we need a reliable way to help keep everyone connected from wherever we go. well at at&t we'll help you find the right wireless plan for you. so, you can stay connected to all your drivers and stores on america's most reliable 5g network. that sounds just paw-fect. terrier-iffic i labra-dore you round of a-paws at&t 5g is fast, reliable and secure for your business. >>> welcome back to "the exchange," everybody jobless claims came in high this week, a bad sign for the labor market we had adp tell us wednesday we added more jobs than expected last month what will the government's read tell us tomorrow morning and what will it mean for the fed and the markets? here is the chairman and ceo of recruiter.com

was huge yesterday don't also a match but trends remarkably match when adp is up usually bls up as welluge bounce maybe surprise on wages as well a lot of things that suggest this number should come in, well above consensus. >> meanwhile the fed has to be talking thinking with regional banks, as they make a decision on the next he move, they are rebounding this morning, but man oh man what a week pacwest higher by 1% plunged 51% worst day yesterday on record, the stock this morning up 22% right now, western alliance up 20%, meanwhile, fdic planning to hit big banks with fees to, refill deposit insurance fund big banks take hit in terms of cost or what your rooj bank mess. federal reserve on their part listen these reverse repos, by the way, have been around for awhile but year and a half ago went from zero demand to two trillion dollars a day i asked guest after guest what is going on there everyone kind of like known challengent about it blows my mind from zero to two trillion i am curious two billion, rather, and, essentially, if you are going to give money market funds 5.05%, overnig

at adp, we understand business today looks nothing like it did yesterday. 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 ♪ maria: welcome back. president biden is returning to to washington at this moment after the g7 summit in japan wrapped up earlier this morning. at the summit the leaders of seven nations vow tougher sanctions against russia and reduce trade with china. joining me right now with reaction is the chairman of the house foreign affairs committee, texas congressman michael mccaul. mr. chairman, thanks very much for being here this morning. >> thanks, maria. thanks for having me. maria: what can you tell us about the g7? it was obviously a lot of conversation about china's economic coercion. how did you read it? >> right. so these are our allies, partners to counter the malign influe

at adp, we use data-driven insights to design hr solutions to help you engage and retain top performers today, so you can have more success tomorrow. ♪ one thing leads to another, yeah, yeah ♪ your wyndham is waiting. ♪ when bucket lists need checking... points need redeeming... work trips need crushing... or anniversaries need... celebrating? no matter who you are, where you're going, or why. with 24 trusted brands by wyndham to choose from... your wyndham is waiting. get the lowest price at wyndhamhotels.com goli, taste your goals. jack: companies are pulled into the culture wars as politics is intertwined with business operations. bud light has taken hit since its partnership with the transgender tiktok star but it is not the only company feeling the heat. the story is by barron's manager, thanks for coming on to talk about this. i want to ask you about bud light. it pairs with dylan, the transgender influencer and suddenly takes a massive sales hit, 20% down on bud light sales, sounds pretty painful. >> it sounds painful but it wasn't that bad. 20% may sound like a lot but it was le

at adp, we understand business today looks nothing like it did yesterday.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 ♪ you got this. let's go. gobble gobble. i've seen bigger legs on a turkey! rude. who are you? i'm an investor in a fund that helps advance innovative sports tech like this smart fitness mirror. i'm also mr. leg day...1989! anyone can become an agent of innovation with invesco qqq, a fund that gives you access to nasdaq-100 innovations. i go through a lot of pants. before investing carefully read and consider fund investment objectives, risks, charges, expenses and more in prospectus at invesco.com. as a business owner, your bottom line investment objectives, risks, charges, expenses is always top of mind. so start saving by switching to the mobile service designed for small busi

at adp, we use data-driven insights to design solutions to help you manage payroll, benefits, and hrre success tomorrow. ♪ one thing leads to another, yeah, yeah ♪ beyond ordinary etfs. visit foxbusiness.com/"barron's roundtable". jack otter: i'm not personally offended by women in bikinis, but i keep it separate from my choice of beer. not always possible these days. jack hough: i know what you are referring to. miller light appears to be getting bud light, that was women's history month in march, the brewer had an ad with our female comic that marks past beer ads that used bikini-clad women. with thousands of complaints miller took the ad down. they thought would die down but podcast or joe rogan called the company woke him. he's in charge of that sort of thing. there is no indication yet that this will hurt sales, but bud light is making room in the woke dog house. the message is clear, be careful about mocking the manliness of certain things like light beer or guys trying to save 35 powers by drinking corn flavored seltzer so they could fit into their skinny jeans. jack otter: a

at adp, we use data-driven insights to design hr solutions to help you engage and retain top performers, so you can have more success tomorrow. ♪ one thing leads to another, yeah, yeah ♪ who doesn't love it. >> she's not to be governor forever read bad news, have a good weekend. >> from the spock studio in new york city this is "maria bartiromo wall street". >> happy weekend to all, welcome to the program that analyzes the week that was in position to for the week ahead. i am maria bartiromo. bracing for impact texas cities declaring states of emergency this weekend while 1500 u.s. troops prepare to go to the border a massive surge of illegal migrants expected next week senator joni ernst on the impact across the country when title 42 expires in the upcoming week. jobs jump many more jobs and did april the famed economist on what this means for the health of the economy in your job. a new government report outlines what is to blame for all of the flight cancellations over the last two years, the ceo frontier airlines is with us with a response. >> may 11 is a nightmare date for the amer

at adp, we use data-driven insights to design solutions to help you manage payroll, benefits, and hrso you can have more success tomorrow. ♪ one thing leads to another, yeah, yeah ♪ how can you sleep on such a firm setting? gab, mine is almost the same as yours. almost... just another word for not as good as mine. save 50% on the sleep number limited edition smart bed. plus, free home delivery when you add an adjustable base. only at sleep number. jack otter: the auto industry feeling the pressure to deliver the next generation of cars. this technology continues to advance, automakers shifting to electric vehicles but how will the transition affect the bottom line. joining the is jim farley. ford's ceo, is ford building electric vehicles because it wants to or is being forced to? do you think evs are better than their internal combustion predecessors? >> for some customers they are but not for everyone. if you are pulling 1/5 wheel in wyoming, but three cars in your household and one is short distances or 200 mile range it is a better car. it is dependent on the customer. jack otter:

. ♪ at adp, we understand business today looks nothing like it did yesterday.ssibilities 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 ♪ this thing, it's making me get an ice bath again. what do you mean? these straps are mind-blowing! they collect hundreds of data points like hrv and rem sleep, so you know all you need for recovery. and you are? i'm an investor...in invesco qqq, a fund that gives me access to... nasdaq 100 innovations like... wearable training optimization tech. uh, how long are you... i'm done. i'm okay. maria: welcome back one thing you need to know ahead of next week and end of an era for some, the u.s. is set to finally lift most covid-19 vaccine mandates next week federal workers, contractors and foreign travelers will no longer be required to get the shot come short until thursday biden sweeping mandates which hav

ray: we have a forecast of 190,000 since the adp numbers came out.pre-paranoid. think about where we were in december of 2019. we had an unemployment rate of 3.5%. the six-month average for payrolls, at time when the economy was clearly go -- growing andor was talking about -- and nobody was talking about inflation, it was 160,000. we are about to get over 200,000. the problem the fed has is not recession. the problem the fed has is too much growth. jonathan: what are you seeing in cyclical sectors right now? is there any sign whatsoever that interest rates increase the last 12 months and ask to buy in some shape or form? ray: what is beginning to happen is the goods sector is beginning to soften. housing is beginning to bite into elements of employment, in real estate, construction, and those types of things. for this level of gdp, the economy is running at least one million jobs short. the one million jobs short is in the services sector. i'll care, travel, and entertainment. there is some degree of rollover in goods and construction. but we will s

at adp, we use data-driven insights to design solutions to help you manage payroll, benefits, and hrtomorrow. ♪ one thing leads to another, yeah, yeah ♪ i got into debt in college, and no matter how much i paid, it followed me everywhere. so i consolidated it into a low-rate personal loan from sofi. get a personal loan with low low fixed rates, and borrow up to $100k. sofi get your money right. ♪ if. gerry: too many gone way too soon. researchers are discovering that young americans are dying at the fastest rate in 15 years driven by homicides, drug overdoses, car accidents and suicides. the overall mortality rate between 2019 and 2020 the for young americans rose over 10% with some researchers saying social disruption during the pandemic, which was lockdowns and school closures, could be a significant cause. so what's going on and what can be done to change course? jessica, this is a tragedy. we are seeing this. and it does, maybest pandemic-related. what's your sense? there seemed to be this kind of, like, rising tremendous amounts of mental illness, rising levels of despair. >> i

will review the support of the kilysh now the head but then after all, this party is about kursk, er, adplso call on their supporters to vote for the source, but well, in fact, the situation is still bad, well, bad for er, yes, two and a half million er votes to overcome it is difficult and frustrating for erotograd, a small administrative effort is enough to win the elections, while the opposition, of course , needs more effort, but the economy records another decline in the resources of the national bank , the situation is quite difficult, and rent is increasing in all populated areas, well, in large cities erdoğan 's islamic rhetoric or islamic rhetoric, by the way, he also actively refers to islam, my erdoğan, by the way, recently called he urged the turks not to vote for rotorgans if they are muslims, in other words, they are already there so much that both of them canceled each other's muslim status that there is nowhere to go , but if you look at the trends in general, then it is very interesting that the opposition bloc and the ruling party have clearly defined their key positions

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at adp, we understand business today looks nothing like it did yesterday. 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 ♪ as someone living with type 2 diabetes, i want to keep it real and talk about some risks. with type 2 diabetes you have up to 4 times greater risk of stroke, heart attack, or death. even at your a1c goal, you're still at risk ...which if ignored could bring you here... ...may put you in one of those... ...or even worse. too much? that's the point. get real about your risks and do something about it. talk to your health care provider about ways to lower your risk of stroke, heart attack, or death. learn more at getrealaboutdiabetes.com mark: welcome back america. good friend of mine, former federal prosecutor, u.s. attorney for utah, bret tolman of the tolman group. bret,

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adp chief economist tells this show that central banks should be thinking further ahead. >> this is not one and done even in the current inflation period there is every expectation that bouts of inflation are persistent and frequent over the past ten years what is the game plan? >>> european chip makers stop the stoxx 600 after nvidia posts the biggest earnings beat since 2018 shares soaring in extended trade taking the market cap to almost $1 trillion. >>> good morning welcome to "street signs." so much to get to on the show today. first, we have data from germany. germany has officially entered technical recession with final gdp data showing the second quarterly decline in a row gdp fell 0.3% in the first three months of the year a downward pre-vision from the preliminary read which showed on the flat line at 0%. however, the first quarter contraction was an improvement from the fourth quarter. we now have two consecutive quarters at 0.5% at the end of the year and 0.3% for this portion of the year.d revision from zero to minus 0.3% what was the catalyst? >> reporter: consumption is d

with got market that's lessening, while off the highs and not surprise given hotter than expected adp number. stay with us friday for the jobs number. dow industrial up. write to varney and company we go. stuart: good morning. who would have thought vice president harris will bring together the ceos of for leading a i companies? they meet at the white house tomorrow. ai is the big new thing and the government want a handle on it. regulation will pause and development, don't know. interesting harris is given the job right before title to -- 42 is lifted. the ai meeting conveniently distracts from harris is role as border czar. in about five hours look at the federal reserve interest rate decision, rates go up a quarter-point but listen to jay powell after he's made the announcement. one unexpected word is enough to make the whole market. talks are in agreement, the dow down a couple points, nasdaq down about 12, dow is up one. not much movement, got it. this could be the stock of the day, i hope so. you likely showing positive results for stage iii alzheimer's study. after treatment, 4

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and i do think on a limit rate will stay low and job creation will be higher than expected because of adpobs numbers on wednesdays were very good. stuart: thank you very much. big tech ceo this morning with vice president harris, they are going to discuss artificial intelligence. i can't be joins me now. harris put in charge of the border and failed to handle it. she's chairing the ai summit, why do you think she was chosen for this role? >> a simple thing, i'm surprised you haven't figured this out. [laughter] when you think of the term artificial intelligent, artificial intelligence, kamala harris. that's exactly why she's in this whole thing. plus i think the biden administration realizes her worthless this is only going to be able to be propped up by getting a thought to be the vice president because every time she makes a speech she creates a whole new viral video of her talking about that this is our future. stuart: this is a very important subject, why did the president give her this rule on that subject x. >> he's got to do something with her and he can't put her in charge of inve

adp, solid. a little bit of buying on the back end.uy: the question we will ask when it comes to the energy story is why is brent below $75 a barrel? a lot is going on and people will tell you this is a demand story. we will debate that in a moment. opec was criticized when it announced it would be cutting its quota. that is the white line. that has come down a little bit but has been basically going sideways. now opec is beginning to look a little smart because the price is coming under pressure, below $75 a barrel. the question is why? opec may look smart right now but are they looking smart for the right reasons? why is oil down? is it the demand story. or is in reality asa by side story? alix: we have been asking our guests about prices over the last couple days. >> the key number is $75. that is the breakeven of capex buyback. bp has blinked first but i cannot say that the rest of the sector is there either. >> oil demand rather than the supply factors have been driving oil price structure for the last almost three years. >> oil d

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at adp, we understand business today looks nothing like it did yesterday.predictable, 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 ♪ stuart: markets are flat. chevron is up $4, home depot is up $6 and that is up 2%. i want you to look at something. flex screen, the world's first and only flexible window screen that keeps out insects. the inventor and ceo joins me now. i thought all window screens were reasonably flexible. what about yours? >> if you flex yours, not going back into the window, this is completely different. it goes back in the shape that it should be. stuart: is that the only one in the world? how did you come up with the idea? >> i worked for a large window company. homeowners were sick of how difficult regular windows are. this was just a passion statement ten years ago, the suv for a week or two.

at adp, we understand business today looks nothing like it did yesterday. 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 ♪ how do we decide what hotel to book? (yelping) fear not, i got you. choice hotels has a hotel for every type of stay. like a comfort with the kiddos. spacious! that's what they all say. stay twice and get a $50 gift card when you book direct at choicehotels.com. >> todd: t-mobile, the company boards up flagship location, leaving a note on the front door directing customers to other locations. san francisco once premiere union square, other stores will close, as well, including nordstrom and sach's off fifth. >> ashley: crime is driving businesses out of new orleans, a massive company moving to a nearby suburb after 20 years in business. final straw came after an emp

along with the adp which is a private company that comes out with an estimate of jobs gained, you can get an idea the economy is still growing. the number of jobs is still growing, albeit at a slightly slower pace than it has in the last six months. shery: fireworks again for the cpi numbers this week? kim: yes. everyone is holding their breath for is inflation getting better or is inflation getting worse? that cpi number is going to be watched by every last investor. haidi: we have seen this policy divergence with asia where policy has been more muted. do you as an investor play that? kim: not directly. we have a mandate to only be in the u.s., but we are happy to hold large multinational companies that do business in areas that don't have inflation like asia. the larger companies, the global companies, that is how we play that. you are right, asia has held out much better, especially than europe or the u.k. haidi: how closely are you watching debt ceiling negotiations? it feels like we come here every now and then and does it seem like this is presenting real concern for investors?

at adp, we use data-driven insights to design hr solutions to provide flexible pay options and greater workforce visibility today, so you can have more success tomorrow. ♪ one thing leads to another, yeah, yeah ♪ ah, these bills are crazy. she has no idea she's sitting on a goldmine. well she doesn't know that if she owns a life insurance policy of $100,000 or more she can sell all or part of it to coventry for cash. even a term policy. even a term policy? even a term policy! find out if you're sitting on a goldmine. call coventry direct today at the number on your screen, or visit coventrydirect.com. >> ashley: a chicago-based reporter barred from entering $300 a night luxury hotel being used for migrant housing with taxpayers footing the bill. here is staff confronting the journalist. watch this. >> why not? >> because it is private. >> this is a hotel. >> it is closed. >> it is closed? i saw people go inside. >> you cannot come in. >> why can't i come in? why is it closed for me? i don't understand. >> this is a private area, it is private. you are not a resident here. >> who are th

at adp, we understand business today looks nothing like it did yesterday.npredictable, 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 ♪ >> hunter biden is due in court this morning for a contempt hearing in his paternity case. >> brooke signature singman has the very latest. good morning, brook. >> that's right. hunter biden is set to appear before an arkansas judge this morning in years long paternity battle. will run did you know roberts with whom hunter shares a 4-year-old accused the president's son of ignoring previous court records and withholding evidence in their paternity suit. born in 2018 and one year later hunter agreed to pay monthly child support but in 2020 he asked to lower those payments, even after a d.n.a. test confirmed him to bees father. today's contempt hearing on matter is scheduled to begin a

the latest adp jobs report saw a gain of 185,000.tep, but that is a decent number for the adp. so we have to take this one perhaps with a grain of salt. unemployment is supposed rise 1/10, average hourly earnings stay steady. is this the kind of job growth that would change the fed view, that yes they might pause but they have to see support for that in the numbers. what that be considered support -- wouldn't that be considered support? >> it might not, but the payroll gain would have to get down to $35,000 a month to -- 35,000 a month for the weakness that would bring down the labor market tightness which would boost inflation. so something interesting. bloomberg television spoke to the ceo of chipotle, and they said they are starting to see which normalization, expected wages people are asking for, they are expecting increases, more like in mid single digits kind of number. so maybe there is some improvement along those lines. we will have to see more numbers to be convinced on this. >> always dated to attendant. -- data-dependent.

jobs' report tomorrow, again, looking for 180,000 jobs added nonform unemployment rate 3.6% surprised adpng report tomorrow. >> sure is we will be watching it closely we've got all-hands-on-deck, cheryl, mike talking about this tomorrow, let me point out, this is going to be one of those reports, that the fed is watching, to decide what to do in june. another hike? or take the pause? >> look, the markets pricing in-like 97% chance of a pause the stock market priced based on rate cuts having day showing continued decline leading economic indicators all be it not enough with labor costs stubbornly high that means nation hasn't gone away at pays many were hoping look, the stock market like i said before is built based on "house of cards" the fed is going to immediately start cutting interest rates the bond market is priced on that as well, the bond market is predicting we're having some sort of massive event that will prompt the fed, to go ahead and start cutting interest rates, i mean 10-year treasury not down as much earlier day, but down substantially 20 basis point move very substantial

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we'll get claims in adp tomorrow as we work our way to jobs friday back to post 9 and the judge >>> carl, thanks so much welcome to "the halftime report." i'm scott wapner front and center this hour, the state of stocks. may is coming to a close we debate what likely lies ahead for your money with the investment committee joining me for the hour today joe terranova, jenny harrington, jason snipe, anastasia amoroso and let's check the markets as we get going here. it hasn't been a pretty picture all day. the dow is down about 260, s&p is under some pressure, nasdaq very interesting to watch, too there's the ten-year note yield 3.66 is where we see that at this moment just past noon in the east one of the big stories, yes, j.o.l.t.s. higher than expected. now we're debating whether june is live and how live it might be the debt ceiling vote is going to happen later today, obviously. when you look at the roll over in chip names from yesterday, i'm looking at amd down 4% nvidia was down a good bunch from where its high was yesterday. marvell fell from its high yesterday. are you watching tha

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