sonali: michael mckee speaking with chicago fed president austan goolsbee.w for our daily wall street week conversation. today, we are focusing on the protests happening on college campuses around the country. denny behar, run university associate professor, spoke with wall street we coast david westin about the calls for universities to divest from israel. danny: universities, especially the ivy leagues, have big endowments. these endowments are invested in stockmarket market securities, alternative investments -- a large number of different things that usually are not publicly available. they are actually managed usually by an independent advisory -- a financial advisory body that reports to the university. but it is not the university making these traits themselves and having control over these. they just -- part of the returns of these endowments go to fund a lot of the university activity, year-to-year, including salaries, scholarships, and things of that sort. david: think about the mechanics there. if the university decided it wanted to disinvest -- r

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near r in the week as wells jd.com >>> the fed president neel kashkari and chicago president austan goolsbees looking into the policy being restrictive enough. >> why is the fed saying the financial conditions are tight we think monetary policy works through financial conditions and if the business community does not feel like financial conditions are tight, that makes me question maybe we're not as restrictive as we would have guessed. >> on the question of are we restrictive? the fed doesn't control long rates. i tend to look at the fed funds rate minus inflation and the real fed funds rate. to me, the level of that is as high as it has been in some time i feel like we're in a restrictive territory. >> so the head of gt fx research joins us in studio thank you for the chance to be here i want to start off with the dollar rally which has begun to fade does that rally continue to fade until we see greater prospects of the fed cutting rates >> indeed. i think a couple of drivers to the risk rally and one is the fed's reaction function to the incoming data. it is the case that the fed has star

mike: first we had the interview last friday with austan goolsbee and said it's not a question of hawks and doves, it's a question of the data dogs sniffing out what's going on. in terms of the data dogs, a lot of them are barking this week. we have a number of out speaking fed officials. they started with 10 or 15 minutes from richmond and from new york. then earlier this morning we had rafael bostic from atlanta put out a paper. tomorrow, neel kashkari. wednesday, a whole bunch of them. thursday and friday the same. but they are not -- you can see it in the graphic there, the ones in yellow are the ones to pay attention to, they are talking about monetary policy but there is not much data for them to sniff out. consumer credit wholesale, jobless, michigan sentiment, that's about it. the data are not going to drive what the fed is thinking about, but may the auctions will. sonali: interestingly enough, you saw moves at many parts of the curve here. it was an interesting bid coming into the two-year, the 10 year. are those investors safe at these levels? or could they see some pain ahea

well, austan goolsbee, thank you very much. the president of the federal reserve bank of chicago, and i appreciate your time tonight. >> it's great to see, you again here. >> all right, you too. >> next, the nikki haley factor. she has been out of the race now for months. and yet a lot of people are still voting for nearly 20% in maryland closed primary last night 20% of republicans. so what does this mean for trump? plus a massive international manhunt after masked gunman ram their car into a prison van two guards kill a notorious criminal. now in trump hush money trial, gavel to gavel coverage, the way only cnn can bring it to you, legal insight expert analysis, and real-time updates live from the courtroom follow the facts, follow the testimony, follows. >> cnn let's play the role term. >> everyone comfortable, yet there's plenty of space how logo on golf just wait, the mouth volkswagen atlas with three rows and seating for seven. everyone wants her okay? >> they gave him and see despicable me for theaters july 3rd, rated pg

well, austan goolsbee, thank you very much. the president of the federal reserve bank of chicago, and i appreciate your time tonight it's great to see again here. >> all right. you too. >> next the nikki haley factor. she has been out of the race now for months. and yet a lot of people are still voting for nearly 20% in maryland closed primary last night when republicans. >> so what does this mean for trump plus a massive international manhunt after masked gunman ram, their car to a prison, been two guards kill a notorious criminal. >> now saving for retirement or stuff enough and navigating markets can be challenging at times. i understand that's why fisher investments, we keep a disciplined approach with your portfolio, helping you through the markets, ups and downs, what about communication? we check in regularly to keep you informed, which means you'll help us stay on track. >> yes. is it fiduciary? we always put your interests first because we do better when you do better at fisher investments were clearly different at uni

well, austan goolsbee, thank you very much. the president of the federal reserve bank of chicago, and i appreciate your time. tonight it's great to see you again here. all right. you to next the nikki haley factor. >> she has been out of the race now for months and yet a lot of people are still voting for nearly 20% in maryland's post primary last night, 20% of republicans. >> so what does this mean for trump plus a massive international manhunt after masked gunman ram, their car into a prison van two guards kill a notorious criminal. >> now home where routine meets remarkable with unexpected moments of inspiration around every corner and through every window my mornings in the sun with tornadoes to new world. and fine dining with a view your window treatments, vas, inspiring is your home and the remarkable routine you have your daily life three dave lines it's comin for anyone who needs help if found another body you're recognizing, never seen him before. >> the obvious theory is an alkyl or use the flood to cover their tracks

tom: federal reserve bank of chicago president austan goolsbee speaking.r from jay powell on tuesday. the chorus of voices from the fomc suggesting they are comfortable sitting higher for longer on rates out of the u.s., given what's been happening with inflation. does that change that narrative on the back of the inflation data that we expected? cpi this wednesday, did it just that narrative? here is what transpired the last three months when it comes to u.s. super court inflation, and beans acceleration, the white line is cpi's looting and energy, and u.s. cpi and services excluding energy and housing. as you can see from the start of this year, those lines have started to take up, on an aggregated basis in the first three months of the year, you have seen core inflation coming in at around 4.5% from 3.3% in q4, so that move up is what has led to the concerns. are we going to get a restart of the disinflation narrative with that inflation data out of the u.s. this week? let's have a look at what's been happening in china because the credit impulse fell o

consumer sentiment and budget figures and fed speeches from michelle bowman and neel kashkari and austan goolsbeec on power lunch at 2:00 p.m. and employees at apple will vote today to see if it will become the third unionized site. >>> let's get another check on the trading day with another look at gains. futures are higher across the board. the dow is pulling back a bit. it would open up 145 points higher at the open small caps are showing sciences of strengths up 2% this week and on pace for the third positive week in a row. the next guest says the momentum is far from over joining us now is amy zhang fro alger. you are seeing momentum with the small caps what are you seeing? it is 2% or 3% with small caps for the year, those small caps and mid-caps are flat. >> exactly good morning, frank. great to see you you know, as we talked about it last time, the gap is still very large currently with the s&p and the small-cap index is growing at a 23% discount to the s&p 500. historically in the last 20 years, the average premium is about 13% to 14% i think the reversion means the catch up is far from

a big interview tomorrow we have two, count 'em two, neel kashkari on the left, austan goolsbee on theat's at 2:00 p.m. eastern time tomorrow we know how comments from fed speakers like these can sometimes move markets it's something to watch for sure there. an exclusive interview at 2:00 p.m. eastern time. >>> now, what's happening today with bond yields, rick santelli in chicago has more of that story. >> yes, dom, a double whammy no the market one, initial jobless claims going back to august they popped at 231,000, the highest level since the end of august let's call it an eight-month pop. when that happened, one of the things, one of the markets paying close attention was the dollar index looked the way it fell as initial claims popped. and, if we look at what's going on with respect to the dollar index, well, let's look at other majors even though the dollar was down here, it was the yen that was down against the dollar, the pound and, of course, the euro currency you see that chart starting at the beginning of the month of april, and how, after testing the 160 level, all the curr

don't miss steve's exclusive conversation with neel kashkari, and chicago fed's austan goolsbee, that's tomorrow at 2:00 p.m. from chicago. >>> there's a birds eye viewer from steve. starbucks shocked the street with a surprise drop in seam-store sales, leading to the stock's biggest post-earnings drop since 2000. mcdonald's missed on the bottom line, saying they're adopting a street fighting mentality. different story for uber and l lyft. lyft, and airbnb gave weaker guidance. planet fitness, there's a mover today, disappointing guidance after missing estimates, the company citing a shift? customer focus to get this, savings, and to covid concerns. that stock is up 8%, though. worth noting, lifetime fitness posted strong membership growth, though that is customer case older and more affluent. >>> our next guest is joel r rambolt. >> hi. explain to us what you think is going on here with so much mixed commentary. >> every cad gory of retail is saying inflation grepressures. we're seeing from well-known facts around fuel and driver shortages. all of that puts upward pressure. we're contr

we get fed speakers mary daly and austan goolsbee speaking out today with the latest on the rate decisionk of england. >>> take a look at futures right now. close to the morning lows. the dow would open up 85 points lower. joining me now is malcolm ethridge malcolm, good morning from london what is the "wex" word of the day? >> good morning, frank my "wex" word of the day is rational with the unknowns in the market, investors seem to be behaving rationally we are not seeing any panic selling because things have gotten too quiet and we are not seeing irrational run-up of no news is good news. i feel good about how investors are responding. >> investors are responding a bit to any comments from the fed. we get a pair of speakers speaking today daly and goolsbee. we had neel kashkari talking earlier this week saying maybe a hike is on the table >> i think that's very improbable i think the fed chair did a good job last week and putting fears over additional rate increases to bed there is not a possibility of rate cuts until july nothing is going to change here and unlikely to happen before s

tom: chicago fed president austan goolsbee speaking with our colleague michael mckee.ocus on what is happening in terms of gaza. the context is that ceasefire talks happening over the weekend in cairo coordinated by qatar and the u.s. seem to have stalled. now we are seeing reports that israel, and confirmation that the military has now put in an evacuation order on 100,000 civilians in rough. according to the israeli military. there is a limited scope operation in parts of russia which is a densely packed city, well over a million civilians packed into that city. they are saying that the kerem shalom crossings into gaza remains closed. a hamas attack led to the deaths of military personnel over the weekend. there is no change in the aid flow. the consequential line is that the military has asked some rafah civilians to move out of that city in preparation for an attack. where israel says there are hamas battalions sheltering. the israeli currency drops its most in two weeks. 1.1% lower versus the u.s. dollar in terms of moves for the israeli shekel. we continue to mon

you had outperformance are shorter maturities yesterday but let's see if austan goolsbee manages to movedle when he speaks later. a look at the pound, 1.25 is where we trade, a touch stronger after the boe decision yesterday. it was slightly weaker and then recovered as we have the suggestion, strong suggestion that a june rate cut is potentially on the cards. 60% is the chance currently priced in markets of a june cut. a look to oil, brent trading at $84 a barrel. we have the geopolitical news that we have been discussing, but of course also, the weaker dollar making commodities broadly more attractive yesterday. xi jinping has pledged more rail and energy investments in hun gary following the chinese president's visit to europe. he is counting on viktor orban to push back against accusations by other eu nations. we will get more. president xi is going to ramp up his visit today. i wonder how you think it has gone and what he has managed to achieve. because he is trying to present it a different case from the rest of europe, a bit of an example of how they could behave towards china. >>

coacolleagues will spe to neel kashkari and austan goolsbee today >>> coming up on the show, spain'sconomy minister criticizes bbva's hostile takeover bid for sabadell. nvsal have more on that coertion coming up next on cnbc smarter at every stage of your business. take full control of your brand with your own custom store. scale faster with tools that let you manage every sale from every channel. and sell more with the best converting checkout on the planet. a lot more. take your business to the next stage when you switch to shopify. 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. when we started our business we were paying an arm and a leg for postage. i remember setting up shipstation. one or two clicks and everything was up and running. i

we look at earnings results from nvidia, target, snowflaking and va kourp and we hear from austan goolsbeeopen and get the latest fomc meeting minutes later this afternoon. the earnings for nvidia continues to push it to new records. ahead of those results, options results showing 9% in either direction, translating to it. >>> for more on this and the trading day ahead, let's bring in jeffrey kleintop with charles schwab. good morning. glad to have you back. >> thank you for having me back. >> i think everybody is talking about nvidia. when you're talking client ts, looking at portfolios, how do you view this inflection point with nvidia earnings? >> we know ai is a huge and rising theme, and so are trades. i'm looking on sending nvidia's chips to china. that's going to be a big issue, really beyond that that has tent tackles that goes across autos and elsewhere. i want to hear more about that. >> that's one big factor. i want to ask you in general, do you have some investors that might be on pins and needles. is there something where you have to make a shift or move something around again

is that what it is >>> comingp, u neel kashkari and austan goolsbee.you was no bed of roses. are you getting me anything for mother's day? go to 1-800-flowers.com. oh my gosh! wow! gorgeous! i feel like royalty. thank you. 1-800-flowers.com. happy mother's day. happy mother's day! >>> good afternoon welcome to power lunch glad you could be with us. stocks losing steam. but dow still holding on to gain which is would make an eight

strong, we don't have to do anything we can stay here as long as needed >> now, i don't think austan goolsbee's viewpoint is any different from that given the scenario, where austan may be a little different, is he seems to have more optimism that inflation is going to work itself out he will keep reminding you that we had an historic decline in the inflation rate last year obviously not the price level, but the rate of inflation came down very precipitously. he's a little more optimistic. he does not accept the idea that we're in this last tougher mile of inflation he seems to have expect that the inflation progress of last year can and should continue this year >> i also, to be honest, was struck by the issue of rents, right? the fed chair at the meeting had you believe -- and he said it numerous times -- that he believes it's a lagging indicator, that rents are going to come down he sounded pretty confident in that if you listen to these two gentlemen with you today, man, they almost talked as if it's a leading indicator to them still that the stickiness there or as i think mr. kashkari poin

leaves one meeting open between nestor and hammett and it's likely the chicago fed president austan goolsbeeher place at that point. she is the fourth woman to take the president's job at the cleveland fed. the cleveland fed was the first to appoint a woman as president who was karen horn in 1982. that's a seat that's been filled more often than not. there is a new president coming in to the building at superior avenue and east 6th street in cleveland and it is someone who is married to a cleveland native and is a longtime wall street veteran. >> michael mckee, thank you so much. the cleveland fed naming former goldman partner beth hammack as its next president. let's shift gears because the shipping industry is facing some big and profitable waves. port congestion asia, rising hostilities in the middle east. labor strikes in north america and trade tensions between the u.s. and china making for choppy seas and higher frame rates. here to talk about how to navigate this, the ceo germany's largest shipping company. what is the latest there. have you seen any reduction in the safety improvemen

chicago fed president austan goolsbee says he's hesitant to focus too much on recent inflation data. he says adding that they have made a lot of progress. dallas fed president lori logan, on the other hand, said it's too early to think about cutting rates. she also said that u.s. monetary policy might not be tight enough. yikes. minneapolis fed president, mean tile, neel kashkari adding that the fed has got to get inflation down. so what's been the response? well, fed funds futures for september showing now right around a 61% probability for a cut as compared with 67% before this morning's consumer sentiment report. so dropping a little bit. all right. let's get right to the floor show, discuss the latest data and all the action today. joining me now is max and money founder and ceo mark matson and carnivore trading ceo dutch masters. gentlemen, thank you both for being here. great to see you. mark if i, i -- mark, i want to begin with you because gold is having one of its best weeks in five weeks. you are telling investors, don't touch it with a 10-foot pole, avoid gold and commodit

but we have austan goolsbee from chicago and neel kashkari from right here in minneapolis, so we're goingan important piece, an essay he wrote yesterday, that talked about his view on what the neutral rate is and how restrictive the federal reserve is that is the key question that everybody is talking about, is the fed at the right place to bring down inflation or the federal reserve in place where it needs to, i don't know, maybe go higher to attack the inflation problem or maybe bring it down a little bit here? >> steve, thank you. steve liesman, obviously, also coming up with some big interviews later in the day. >>> we are getting some indications on zeekr, that, of course, is the chinese ev maker going public today 23 to $25 a share is where we're at least seeing the early ask right now. obviously, went public, not, obviously, went public at 21, so it would be a nice move higher, in fact, if it maintained or even exceeded that level. >> 10, 15% kind of what you shoot for. >> the biggest gainer on the s&p this week, the biggest gainers, met her toledo with an 18% increase one big gain

to golden valley, minnesota, for a huge interview with two fed presidents, neel kashkarind a austan goolsbeeto “find themself.” leaving you lost. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire and they're all coming? matchthose who are stillption. with us, yes. grandpa! what's this? your wings. light 'em up! gentlemen, it's a beautiful... ...day to fly. >>> welcome back check out this mover, roblox shares plummeting down nearly 22%. steve kovach has been tracking the action and joins us with the numbers and what's really got investors spooked today. >> this morning it's really all about the guidance the guidance for the current quarter and full year is pretty rough. company says it saw a lot of weakness in engagement and turns out the problem is more technical than anything else, according to the company i actually caught up with the coo. he told me at the end of last year the company launched a bunch of new features in the game that caused a few technical hic hiccups. most roblox

lisa: a lot of people including austan goolsbee have said it is a lacking indicator and that growth isis that the momentum in inflation has not been going down for the last several months and if momentum has been building to the upside, we need to see that momentum break from the fed perspective. there is an argument about on the one hand, maybe in areas of occupancy rates, looking a bit better and on the other hand, -- is now rising at 7% of the annual rate and that means we are seeing momentum building in prices. different parts of the scale are weighing but we don't know what the inflation data will do. it has been coming down a lot slower. combined with auto insurance and everything that is going on in the subcomponents, continuing to put upward pressure on inflation. lisa: you still see no rate cuts this year. torsten: also beginning to talk about no rate cuts this year. it is becoming more and more difficult. if you put together a spreadsheet, the growth rate we have seen for the last 30 years, you will still have inflation by -- around 3% by the end of the year. you need a drama

austan goolsbee will be attending the july meeting. >>> raphael bostic told investors last night he isng at the fourth quarter as the time when the fed actually may start thinking about reducing interest rates. fourth quarter. bostic said many measures of inflation on his dashboard, are in his view, moving back into the target range. tomorrow at 8:30, we get the latest read on core pce. that's the fed's preferred measure of inflation. uncertain about the rate path driven to the yields at the high elf level. for more, let's bring in mark at bank of america securities. it is interesting, mark, there is a lot of factors right now. auctions. that should be the bottom line is whether we can sell the stuff at certain yields. i guess that's where the rubber meets the road a lot of the time. then we get economic numbers and we get inflation numbers. it looks like we're slowing a little. like gdp is not supposed to be rip roeraring. that looks to get an inflation cut, but not until presumed a downward trajectory. >> we have seen th basis points up for the year. we think this is due to a combina