also ahead, we'll break down chair powell's message with richard clarida. and later the big post earnings plunge for chegg with the ceo dan rosensweig first mike santoli, what are you watching >> not that much give in this market about two days of pullback or at least some hesitation in the market friday and yesterday, bond market got twip twitchy afr the jobs report friday but you track powell's comments, the market up 1% from its high of the year last thursday. one of the big questions coming into this week is can some of the speculative stuff that got overexcited coming into the week calm down, deflate a little bit while the overall stays the same hints that's possible. if there were a pullback to 4,000, you're still in the normal pullback zone, looks like this a little mini breakout is intact one area that we've obviously been looking at is inflation and commodities need to go further up the chain here's a true year of the commodity index etf. well down from the mid-2022 highs but sticky around this level, which was really right around the russia's inva

richard clarida. >> thank you >>> after this, more trouble ahead for intel. got the chipmaker's latest cost-cutting moves, including a massive cut to its dividend. that's coming up later this hour >>> but first, we're keeping our eyes on shares of baidu. that stock is moving, losing its early morning gains and now lower despite profits coming in better than expected a $5 billion buyback also announced. the stock dubb ingstock, though since its november low the dow up 27, very minor gains ahead of the fed minutes at 2:00 p.m. we'll be right back. ♪ it's our turn now we'll make it up again. ♪ ♪ we'll build freelance teams with more agility. ♪ ♪ the old way of working is deader than me. ♪ ♪ we'll scale up, and we'll scale down ♪ ♪ before you're six feet underground. ♪ ♪ yes, this is how, this is how we work now. ♪ >>> welcome back i want to get a check on the price action in lithium, now down double digits year-to-date. trading at levels we haven't seen since september of '22. lithium hid a record high of 85,000 on december 1st of last year, that brought down in

tom: why can richard clarida say the things he says? there is an institutional responsibility to sing from the hymnal, to keep the ultimate fear, which is are we on anchored? they will not lift from 2%. everyone is saying what is it? 2.2%? 2.8%? jonathan: it is important to point out they are not voters but nonvoters still participate in the meeting. you will see some display in the minutes. without the minutes would set the stage for a discussion, now there might be a different discussion in the minutes. there was a comment from bullard yesterday. there was a comment from jim bullard bullard that got my attention. he says he has pushed back against the idea of long invariable lags. he thinks it is not the 50's, 60's, 70's anymore. let's see if the minutes are the stage for that debate to play out with more color. lisa: what is the readthrough to markets? are stocks pricing in the sense the fed may have to go beyond 5.25%? that is the unknown. jonathan: if brian levitt has to wait any longer he might have nothing more to say. equity fut

i am interviewing richard clarida and in the library of the eccles building at the fed.ll economic libraries. i'm here, clara is here, the thing to my left is the library, and they have a first edition of torsten veblen. [laughter] i said, when everybody's not looking i just want to take three or troubled. jonathan: never mind the classified documents. you just want the first edition books. [laughter] lisa: no one is listening, tom, subject -- so keep talking about stealing them. tom: the library is spiritual. it is fantastic quality. jonathan: neil duda is coming up -- neil dutta is coming up. and coming out of payrolls, we will discuss them. your payrolls report is about 18 minutes away. we are looking for 189,000. from new york, this is bloomberg. lisa m. keeping you up-to-date with news from around the world, i'm lisa mateo. the clock is ticking before we get our latest look at the strength of the u.s. labor market. the january jobs report, expected to show that the economy added 188,000 jobs. that would be the smallest gain in just over two years. still, it illustra