bostick also said he does not see the u.s. dipping into version. the international monetary fund seemingly agreeing with this outlook, they raised the u.s. growth projection for this year to 2.1%. so far sentiment is positive ahead of the cpi report on thursday, the consumer price index, important inflation report. and a host of third quarter earnings. but with the global picture in sharp focus, let's get to kate moore and the floor show, head of blackrock global allocation fund. kate, obviously, your gut reaction to all that's happening right now and how the u.s. markets are absorbing it. >> yeah. i think the main focus especially for the ec questionty space right now -- equity space has been the messaging from the fed. not just bostick, but also daly and logan all giving a similar message which is, you know, we're in the right direction of travel for both inflation, hopefully we'll get that confirmation if on thursday, and the labor market. and that's what the equity investors really wanted to hear. they also like seeing that the bond yields have

live from new york, i am romaine bostick. >> wiki off to the closing bill in the u.s.a flight to safety taking place come putting a bit own treasuries. 10 year yield coming down to 4.60% pushing yields

i am romaine bostick. >> and i and katie greifeld. taking a look at u.s.t now, we should of early losses. geopolitical tensions are front and center after hamas's surprise attack on israel over the weekend. but markets are closed today for the holiday but etf's continue to trade. tracking long data treasuries rising today.

romaine bostick is about to kick off the close and joins us now. finally have a speaker of the house. so they will get some things done. not enough time for a real budget of possibly a continuing resolution and more funding for israel and perhaps ukraine as well. romaine: that's right. it's been a wild 3.5 weeks of a vacancy in the speaker's chair. now the vacancy is finally filled. four candidates they had to go through the ringer to get this. the ousting of kevin mccarthy, the rise and then pulled out of steve scalise even before a floor vote. then of course jim jordan decided he would take a different approach to trying to rally votes, largely by, i guess, taking a more aggressive stance towards some detractors that then lead us to immerse that did not make it. as you see on the screen we are getting confirmation that mike johnson does have the votes now to be the next u.s. as speaker of the house with about 3.5 weeks or so until we have to have a budget solution in place. romaine bostick here alongside katie greifeld kicking you off to the clos

live from studio to ed bloomberg headquarters in new york i'm romaine bostick.katie greifeld. it's not too pretty as we get to the end of this friday with the s&p 500 off about .6% off session lows a little bit of good news.

live from studio 2, i'm romaine bostick. scarlet: i'm scarlet fu.osed to be a seasonally stronger period for u.s. equities but you are not saying that play out this way, equities are lower, nobody wants to be long heading into a weekend, and the s&p is set to close down 2.5 percent for the second straight week, entering a

why from bloomberg headquarters in new york, i'm romaine bostick. katie: and i'm katie greifeld.g much materialize when it comes to the s&p 500, the big markdown about .4% on this trading day of october. sadly more action to the upside, the nasdaq 100 up .3%.

live from studio 2 in new york, i'm romaine bostick. katie: and i'm katie greifeld.at the u.s. equity market and we have switched from losses to gains. the s&p 500 absolutely soaring, up 1.2%. more dramatic if you look at the big tech names are the nasdaq 100 up 1.6% even though the bond market has held its losses after that blowout jobs report we got this morni

live at bloomberg headquarters in new york, i'm romaine bostick. katie: and i'm katie greifeld.cking off to the closing bell in the u.s. we are looking at another update. the s&p 500 rallying 0.7%, the third straight day of gains. same if you look at big tech. the nasdaq 100 up about 0.7%.

bond market close for the holiday and on tuesday fed speak continues with bostick, daly. u.s.nesday. friday bank earnings kick off with citi, jp morgan, and wells fargo. let's talk about cpi we think about the big moving events in bond market, it is these numbers right here. you're expected to see it cool across the board from headline to core. month-over-month core expected to stay at the same level but still may be a little bit of relief there. from new york, that doesn't do for us. this is bloomberg real yield and this is bloomberg. ♪ jon: i'm jon erlichman. welcome to "bloomberg markets". matt: and i'm matt miller. the jobs blowout this morning drove equity markets down and yields higher, but we have had a turnaround. equity markets are gaining and we are at a session high on the s&p. 1.2% the gain. take a look at the 10-year yield, 4.78. earlier we shot up over 4.88. hitting fresh highs

from studio two in new york, i am romaine bostick. >> i'm katie greifeld kicking you off to the closinge in the u.s. you take a look at the u.s. stock market. we are seeing stocks fall. the s&p 500, the nasdaq 100, off. they got back to positive territory and now they are in the red. big tech, not faring much better. worse actually,

live from bloomberg headquarters, i am in bostick katie: i am katie greifeld.lose. it is a down day in the stock market. the s&p 500 is off by 0.8%. a little off session lows but close. the nasdaq 100

i'm romaine bostick alongside katie greifeld.om the last fed meeting where jay powell made it clear what he wanted. the readout from those meetings drops now. mike mckee is standing by. mike: at the time of their meeting the minutes show fed officials felt that interest rates were now restrictive and "broadly restraining the economy is intended." caution would be warranted i

live from bloomberg headquarters in new york, i'm romaine bostick. katie: and i'm katie greifeld.r by .2%,

rafael bostick, susan collins. 35 billion dollars of u.s. 10 years ago out of the door, we will see whatauction looks like. fed minutes, how dovish is that going to be? and tony blinken is going to be traveling to israel making it very clear that israel has --. we are progressing toward the house speaker votes. let's dig into what is happening. kind of the weightings and headlines on potential rule changes which may speed up the process. there is little progress so far. feels like a stalemate for the moment. he's right outside the room where the house republicans are currently meeting. walk me through this potential rule change and the invocation they could have on the timeline we are looking at here. >> this rule change that the republican conference was considering would have raised the threshold needed to actually be the nominee for speaker from just a simple majority to 217 votes. basically guaranteeing whoever is a nominee is going to have the requisite votes when this is brought to the floor, but the understanding now is that this motion was tabled. bloomberg reporting that this mo

live from studio 2, i'm romaine bostick. katie: i'm katie greifeld. you look at the equity market.eally decide what they want to do. s&p 500 in the red. it was in the green off by about .2%. nasdaq 100 down about .2%. all the while, you look at the bond market.

that's why raphael bostick said we're at a restricted level because he mentioned corporate debt as something that will create some restraint. so, you better figure out before you go in with both feet where that restraint is coming from inside corporate america. >> you also think -- last thing before we go -- that mary daily's view is now more pervasive? she's not a voting member. >> next year, though. >> next year. but is that view more pervasive in the whole room, that, you know what, because of the movement in the bond market, equivalent to a hike, financial conditions are already restrictive, i.e., we are done? barring some unforeseen thing, we're done. >> i don't think there is much disagreement from the fed on the front end. if you look at the forecast for this year, a quarter of a point separates the hawks and the dovps. where there is disagreement is next year. and there you go from a 4.25 fund rate to a 6. so, there is quite a range there, and there are people like michelle bowman who want to hike twice more. but there are people out there who have that viewpoint. what's going to tel

. >> so, why is there talk from bostick today about a cut at the end of 2024, do you think? that goes in the face of what the fed wants to telegraph. >> right. i think that's a mistake on their part, because they're operating under this assumption that 2% inflation is still atenaa attainable and coming, and the market is maybe towards 3%, 4% inflation. but it gets back to what is fair value on interest rates. and we might not be that far above fair value. what they'd be better off arguing is, don't just say, well, we're very close to 2%. explain to us why you think we're going to go back to that pre-covid or pre-pandemic level of 2% inflation, because i think a lot of people in the market are really starting to question whether that's going to happen. >> so, jim, if they do settle at a higher inflationary -- they don't have to settle it, it just has to exist for all the reasons that tim just mentioned, maybe it's energy prices. but the economy will weaken, right? and if we do have this stagflationary environment, if we're looking at the s&p 500 trading at 18 times which is t

going to in part to more -- it's important to remember that on the show yesterday, 24 hours ago, bosticke the first fed official to use the term sufficiently restrictive. that is the ding button. that's the stuff that turns off the spigot for more rates. however, he paired that with the notion of i think the next fed move he said is one cut at the end of next year. so that is the higher for longer -- that the market has to digest. i just think we are going to be in a process here up and down, in and out, that we are going to adjust all asset prices -- at least for a while, of higher for longer. >> and i will make a really quick point. again, a great point, steve. look at -- forget about the numbers, instead look at the responding comments. within the responding comments, for the first time that i can remember recently, you actually have one segment basically saying credit is now actually becoming much more of a problem. we are starting to see [inaudible] and making the comment about bankruptcy. i had not heard that before. not recently. and by the way, sorry david, when you think about e

yes, we're going to be all over the cpi issue, and i know you heard what atlanta fed chair rafael bostickhelping the markets, certainly. we're going to get to all of that folks. we begin with breaking news on multiple fronts. we do have the markets pretty squarely in the green, dow u

charles: i think one fed official, bostick, just one rate cut next year.e wall street is disheartened by that. the fomc meeting we've been on the back foot ever since in terms of equity markets and bond markets but with respect to the fed and higher for longer, letting the balance sheet roll off, if there is a shock in the other direction, let's say friday we get a jobs report that is very similar to this adp report, shouldn't that change the dynamics quickly? shouldn't they react to that quickly? i don't want to be in a world where they say lept's keep waiting and markets aren't going to wait. >> well the next meeting is in november. it is really not that far away. they will absorb that report as well as inflation data we get next week. they will absorb the jolts data. gdp, retail sales, all of that. this is just one report but in general the labor market is heading in the direction -- charles: is it too late -- let me reframe that or rephrase that, is it too late for the fed to stop a recession? i think it is not. charles: if they were to react, they wer

bostick came forward which said efficiently unrestricted but then he talked about the idea that thereee that. >> you saw warris's piece now. himself problem is that powell is not calling the shots now at the bond market. >> kevin as a real tart lieu. that has caused the market to reprice the fed's reaction function. >> i don't know if that's the cause and the effect. you know, now people think they're unmoored. unmoored. they not attached in we may never know what caused this thing. >> coming up, the impact that the run-up in bodful. >> we have tim rose? >> he's in the next block. >> no offense to j.j. you're watching "squawk box" on cnbc. >> welcome back to "squawk box," everybody. let's take a look at the treasuries. i'm not sure what in the data caused this but you did see yield move higher pretty instantaneously and now futures are down. this is the first time all morning where you have seen higher yields across the entire treasury board. right now the 2-year is 5.062%. it back above 5% and that probably is something that had the biggest interfluns on wok, the taz dak down about f

stick --bostick, into the quiet. . period. it will be in the beige book.ally, your equity market positive by 0.25% on the s&p. from new york, good morning. ♪ (sfx: stone wheel crafting) ♪ the biggest ideas inspire new ones. 30 years ago, state street created an etf that inspired the world to invest differently. it still does. what can you do with spy? ♪ >> safest to the israeli people, we have your back -- we save this to be israeli people, we have your back. we and our country will stand by you during these difficult times and i along with my colleagues here will lead the effort in the u.s. senate to provide israel with the support required to fully defend itself from this monstrous attack. jon: the senate majority leader speaking in tel aviv. welcome to the program, the s&p 500 is positive on the s&p, inching higher by a quarter of 1%. the nasdaq doing ok, even with a move lower on apple. just a bit softer this morning, down by something like 8/10 of 1%. apple's new iphone 15 selling far worse in china. shares of the device down 4.5% compared with the ip

speaking to romaine bostick and katie greifeld after the call yesterday, the bearish call from citigroupres on the s&p 500, totally unchanged. yields higher breakable basis points, by the two basis points, the 4.70 on the tenure. -- the 10 year. tom: petroleum is one of the things not moving and i remember gold and silver having a fickle ty to it. you're looking at $100 oil, two cups of coffee ago. 90.17 on brent is not where we were a week ago. jonathan: we are still in the 90's on brent, in the 80's on wti. tom: we are good to go to abu dhabi. yousef has done a good job out there. joining us now overall hydrocarbon commodity work worldwide, will kennedy in the united arab emirates. abu dhabi was in opec before the formation of the united arab emirates years ago. the view from abu dhabi, what is the power this morning of opec? will: opec are ready to stay the course. they're not too worried about day to day divisions in the market. this fall that we have seen over the last two days will strengthen the conviction that policy is correct and the need to hold course and keep interest -- and