sweeping down the royal mile. _ coming down the royal mile. sweeping down the royal mile.mile. sweeping down the royal mile. it won't - coming down the royal mile. sweeping down the royal mile. it won't take - down the royal mile. it won't take them very long. it takes us longer to walk up then it will take the red arrows to swoop down. that to walk up then it will take the red arrows to swoop down.— arrows to swoop down. that is a wonderfully _ arrows to swoop down. that is a wonderfully of _ arrows to swoop down. that is a wonderfully of edinburgh. - arrows to swoop down. that is a wonderfully of edinburgh. a - arrows to swoop down. that is a l wonderfully of edinburgh. a great restart of edinburgh _ wonderfully of edinburgh. a great restart of edinburgh down - wonderfully of edinburgh. a great restart of edinburgh down to - wonderfully of edinburgh. a great restart of edinburgh down to the l restart of edinburgh down to the port of leith, with the great castle there on its rock, so familiar to visitors and locals alike. and speaking of a city that has its own contours a

s&p down 24, the nasdaq down 61.t back. ♪ ♪ 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? ♪ ♪ this is spring semester at over 13,000 us school districts, which have become top targets for ransomware attacks. but there's never been a reported ransomware attack on a chromebook. which is why thousands of schools like the fairfield-suisun unified school district switched to google tools for education. so they can focus on teaching and 22,000 students can focus on learning, knowing that their data is secure. ( ♪ ) if you have this... and you get this... you could end up with this... unexpected out-of-pocket costs. which for those on medicare, or soon to be, is a good reason to take charge of your health care. so consider this. an aarp medicare supplement insurance plan from unitedhealthcare. why? because medicare alone doesn't pay for everything. and what it doesn't pay for, like deductibles and copays,

the dax is down 2.6. ftse 100 down 2.2.ang seng was down overnight and we still have payrolls to come. coming up, janet yellen touches down and china. what progress can be made in u.s. china relations? this is bloomberg. ♪ health customers surveyed reported taking healthier actions. more exercise. eating healthier. and simply getting more sleep. because they know health isn't just a future state. health happens now. with over 150 personalized genetic reports from 23andme you can start your dna-powered health journey today. alix: you are looking at live pictures of the principal room. this is bloomberg. guy: janet yellen has touched down in aging. -- beijing. our guest is achieved general economist. if janet yellen wanted to improve economic relations between china and the u.s., what should she do? guest: what china would like her to do would be to make commitments in terms of rolling back the tariffs that the u.s. imposed under the trump administration and also indicating a limit to some of the restrictions that the u.s. ha

down. that is what the public experience is. i would say that having hedlund inflation move down that much will strengthen the broad sense that the public has that inflation is coming down, which will in turn, we hope, help inflation continue to move down. sorry, your question was? reporter: you have talked for many press conferences now about the harm created by inflation, how hard it is for people. how much of that are we still seeing with inflation at 3%? chairman powell: i would say it this way, it's a question of how you balance the two risks, the risks of doing too much, and doing too low. i would say that we are coming to a place where there are risks on both sides -- it is hard to say whether they are in balance or not are our standards become more restrictive than inflation moderates, we do face that risk. we need to see that inflation is durably down that far. as you know, we and most economists think core inflation is actually a better signal of where headline inflation is going.

i down about and find it very hard stopping — down about and find it very hard stopping of— down aboutis very important because _ stopping of mental health is very important because it's _ stopping of mental health is very important because it's not - stopping of mental health is veryj important because it's not talked about— important because it's not talked about enough _ important because it's not talked about enough still. _ important because it's not talked about enough still. bull _ important because it's not talked about enough still.— important because it's not talked about enough still. but will people of couraue about enough still. but will people of courage watch _ about enough still. but will people of courage watch it? _ about enough still. but will people of courage watch it? other - about enough still. but will people of courage watch it? other drama | about enough still. but will people i of courage watch it? other drama set in that sort of— of courage watch it? other drama set in that sort of environment _ of courage watch it? other drama set in that sort of environmen

trip down under foryears.trip down under for years. but on the eve of the world cup, england women have had to turn their attention to money. bonuses specifically after the fa said they would not be given one. overnight, statement was released on behalf of the lionesses saying they were disappointed they could not resolve the issue with the fa before the tournament had begun. it resolve the issue with the fa before the tournament had begun.- the tournament had begun. it was im ortant the tournament had begun. it was important for _ the tournament had begun. it was important for us _ the tournament had begun. it was important for us to _ the tournament had begun. it was important for us to share - the tournament had begun. it was important for us to share our - the tournament had begun. it was| important for us to share our voice that people know it's something we feel is important to us, is making changes in women's football on and off the pitch. that we strive to make differences that although we are just pla

as people have said it came down, it is still high, down . it came down, it is still high, down by morends whether you are glass half—full glass half empty person, it is good that it glass half empty person, it is good thatitis glass half empty person, it is good that it is coming down but even the headline rate is still prices going up headline rate is still prices going up less quickly, people should not expect to see falling prices. petrol prices are down but food is up 18% on last year and going back to two years ago when inflation started to pick up, overall prices are up by 20% and some things like food even more so it is not perfect yet. we alwa s more so it is not perfect yet. we always try _ more so it is not perfect yet. we always try and reinforce that just always try and reinforce thatjust because the rate is coming down does not mean prices are, that is still increasing. let's look at what can be done, levers pulled to try to control inflation, try to bring it down, increasing interest rates is the obvious one. how is that policy going do you think? fix, the obvious one. how

there are more sectors up than down.ou have the biggies, the techs all the growth sectors are down. if you read the paper tomorrow, we finish like this, you say the market was down today but there is some opportunity in there? >> right. i actually think, you know, my new saying it is no longer the tina environment, there is no environment, it is the tama environment. charles: what is tama? >> there are many, many all tentatives. many alternatives. charles: you have to go to miami beach to meet the tamas. what is your name? they call me tam ma? >> there are many alternatives. we no longer focus on the top 10 stocks. we can dive deep into industrials, real estate, consumer discretionary. there are lots of opportunities within the s&p 500 and we see that and it's really just started since july. charles: right. >> so people like the last segment they talked about, there are still winners year-to-date. yeah, because they outperformed in the first six months but right now it really looks like we're at a turning point. let's ta

pre-market, both down shortly. the dow industrial, eight straight wins, looking on a slight drop opening bell, down a few points. s&p done 13 for the nasdaq way down because of the decline big tech stocks. but going, right around 30,000 dollars according, 30,000 200 and six. interest rate, the ten year yields 370 -- 382 it's gone up. that's not good for the nasdaq. two-year treasury, 480. that's front of to 485 as we speak. the president has to philadelphia this morning and will speak about the virtues, bidenomics but will be saying drugs, homelessness and crime ravaging the city of preferably fluff. ainsley ehrhardt exclusive interview with governor desantis and his wife, casey. how does she feel about being called america's character? jason aldean song, don't try that, they tried to cancel it. bad move. the song is clearly number one. a lifestyle story close to my heart, eating, drinking and socializing much earlier, the "wall street journal" stories include early birds are winning. [laughter] a wonderful thing.

inflation down.. that is what the government is going to continue _ is what the government is going to continue to— is what the government is going to continue to do.— is what the government is going to continue to do. given that the bank of encland continue to do. given that the bank of england have _ continue to do. given that the bank of england have accepted _ continue to do. given that the bank of england have accepted they - continue to do. given that the bank| of england have accepted they need to look at their inflation models, do you have confidence in the approach that they are taking to bring down inflation? yes. approach that they are taking to bring down inflation?— approach that they are taking to bring down inflation? yes, i support the bank of — bring down inflation? yes, i support the bank of england. _ bring down inflation? yes, i support the bank of england. their- bring down inflation? yes, i supportl the bank of england. their modelling is a matter— the bank of england. their mod

prices were down 9%.x ceo saying in a statement along with earnings that despite those headwinds, the company looks forward to, quote, meeting opportunities ahead in the second half of the year. now over to the trucking giant knight-swift those shares also down about 3% after hours after missing on the top and bottom lines revenue coming in at $1.55 billion versus the $1.6 billion expected earnings share were 5% short knight-swift blaming soft demand and an uptick in driver turnover for the misses the company also cutting its full year guidance to a range between $2.10 and $2.30. that's down from its previous full-year guidance of $3.55 at the high end of the company's estimated range, court circumstances thank you very much, steve for a look at those two transports before these results, the transports had been trumping the s&p over the last couple of months carter what do the charts tell you about the road ahead pour the sector you found some interesting nuggets here >> this might be fun take a look. we'

, dow down, nasdaqdown, all of them down accept the russell 2000.heard a couple of guests today talk about the small caps. left's bring in kaltbaum capital management president, fox news contributor gary kaltbaum. gary i have the russell 2000 chart i'm looklooking at it, maybe reverse head and shoulders, trend line breaking through the trend line, man there, is looking like a screaming buy but are you taking it, but are you taking the bait right now? do you liketh see it move a little higher? >> well the last two weeks it has been acting like a penny stock back and forth, pretty much crazy. look, the small caps there is a lot of the small banks in there and regional banks and i think that's what has helps it out and when the regional banks got hit, it hurt it. leave no doubt the underbelly of the market is acting better and i think small caps will be carried also and i would tell you that three days ago i wouldn't have told you that. six days ago i would have. that is how crazy the action's been. charles: yeah. >> if we continue to see advance-decli

be slowing down, if not stopping.— down, if not stopping.not stopping. thank you so much forjoining - down, if not stopping. thank you so much forjoining us i down, if not stopping. thank| you so much forjoining us on the programme today. in the uk, a second child has died after a car crashed into a school in southwest london on thursday. she's been named as 8—year—old nuria sajjad. herfamily described her as the light of their lives. here's our correspondent, helena wilkinson. tonight, the family of nuria sajjad paid tribute to the eight—year—old. they said she was the "light of their lives" and "embodied joy, kindness and generosity". the young girl was among several people taken to hospital after a land rover crashed into the grounds of the study prep school in wimbledon. she died from her injuries. an end of term tea party had been taking place at the school when the car crashed through the fence and into a building. another eight—year—old girl, selena lau, also died after the incident on thursday. her family said she was an intelligent

when people are running down rate cuts next year, it just is a sense that inflation is coming down and we're comfortable that it's coming down and it's time to start cutting rates i think, but there's a lot of uncertainty between what happens in the next meeting cycle let alone the next year let alone the year after that. it's hard to say exactly what happens there, what's motivating people >> so stubbornly in the high 2s, you wouldn't necessarily cut rates? >> i'm not saying that at all. i'm not giving you any numerical guidance on that we would be comfortable cutting rates when we're comfortable cutting rates and that won't be this year, i don't think many people wrote down rate cuts for next year. several. that's going to be a judgment we have to make then, a full year from now it'll be about how confident we are that inflation is, in fact, coming down to our 2% goal >> a good part of wall street has become more confident that the fed is going to be able to engineer a soft landing and they've reduced their forecast for recession. and i'm wondering if the staff has changed its view o

some of the stuff i'm hearing is that we will start to see rates come down into next year, maybe down into the fives, high fives although, you know, we don't know for sure. but if the rates come down, yes, that will accelerate prices going up. one the big things is we just don't have enough inventory right now and we stillave a decent dd. >> i always like to ask you, you've been around the block a little. when you talk to clients who are leaving the bay area, where are they going? >> well, sometimes they go to states where you don't have state income tax, like texas, washington. i've had a number of clients that actually have gone to washington. there's no state income tax. they drive across the columbia river, and they go into oregon where there's no sales tax. so those are some of the areas where i'm seeing people go where your dollar goes a lot further. arizona is another area where i'm seeing a lot of folks go. so those are some of the areas where i'm seeing people that are moving out of the bay area. >> reno, nevada, as well. jeff lamont with coldwell banker, thanks for your time

since march down 1.2.n't had a positive number since february of '22. now for existing home sales for the month of june, let's head east to diana olick. >> rick, existing home sales fell 3.3% in june from may to a seasonally adjusted annualized rate of 4.16 million unit, a deeper dive than the street expected, sales down 19% year over year the slowest june sales pace in 14 years it is about lack of supply 1.08 million homes for sale at the end of june, down 13.6%. at the current sales pace, 3.1 month supply six months considered a balance market between buyer and seller. that's keeping pressure on prices the median price of a hold sold in june, $410,200 the second highest price of all time, off less than 1% from last june. remember, this is a median so part of that is skewed towards what selling and higher mortgage rates keeping sales stronger on the lower end. real home prices measured by repeat sales of similar homes have been rising now for several months first-time buyers dropped 27% from 30% a year ag

but the nasdaq is the worst performer, down 1.5% the small cap are down percent and the s&p is down 17k after this. this is spring semester at over 13,000 us school districts, which have become top targets for ransomware attacks. but there's never been a reported ransomware attack on a chromebook. which is why thousands of schools like the fairfield-suisun unified school district switched to google tools for education. so they can focus on teaching and 22,000 students can focus on learning, knowing that their data is secure. ( ♪♪ ) we've got one hope. knowing that their data ia bomb.e. 4... 3... 2...1... they just fired a starting gun. >>> welcome back we have major earnings movers today, both to the down side and waking on the broader market, the nasdaq especially. let's unpack what happened and what it means for the rest of the names about to report the results. starting with netflix, down 9% right now after last night's earnings beat. subscriber growth was up 9%, nearly 6 million new users signing up as the company cracked down on password sharing. but revenue is a question park for

the car was driving down sunset street and plummeted down down the stairs landed on 19th.several people got out and ran away from the scene. nobody was hurt. coming up at 6:00, we'll hear from the neighbor who quickly jumped in to help. >>> the city of oakland is taking extra steps to crack down on illegal side shows this weekend. police vowed to put extra officers on the streets, but this one broke out over night near 880. your car could be towed and seized if you participate, but now they must also risk a $1,000 fine or six months in jail. >>> the victim of the recent freeway shooting is sharing her story exclusively with kpix 5 in hopes it will generate leads to catch the gunman. chp said there were two unrelated freeway shootings nine days ago. the rolling gun battle in oakland gravely injuring an 8-year-old boy and a freeway shooting in san francisco that injured a woman. and that woman shared her story with da lin today. >> reporter: the shooting happened right here on southbound 280. the victim tells me a simple lane change almost ended her life. the woman shared th

with inflation come down? thing is everybody looks at the fomc from a global perspective, but their job is to balance labor markets in the united states with getting inflation at the 2% target. so they want price stability, they want full employment, and they will have to assess the data to figure out what is the risk of continuing to raise rates. we haven't seen the full effect of the tightening they have done so far in markets. in fact, we haven't even seen for tightening, right, more tightening is, tomorrow, so it is hard to know if what they have done so far is enough yet. i think the most important thing for them to continue to emphasize is they will be data driven and will make decisions based on the data coming in. you can expect to hear that from them tomorrow, but what you will want to be listening carefully for is, how do they interpret the data they have seen in the last two months. kathleen: we are never quite sure what exactly people are looking for. what is most important here is fed policy only

we took a second reset down. we have been animated about it since on the password sharing crackdown. >> jason bazinet thank you for your time. >> absolutely. >> we will stick with earnings tesla with the lower margins thanks to price cuts and ince incentives tesla delivered more than 465,000 vehicles in the second quarter and produced more than 480,000. those were higher than the wall street expectations primarily driven by incentives and discounts. those remain a sticking point for elon musk who with doubled n on the call to shareholders. >> if interest rates continue to rise, that reduces the affordability of cars and for a lot of people who are barely breaking even. >> let's get a check on the that's results with george gianrikis. >> good morning. >> we played that clip from elon musk people are talking about production specifically in q3, but full year after the strong start to the year, did not rise guidance from 1.8 million. is that the only thing weighing on the stock >> what we saw last night was emblemat

cinemark shares down 8% since the writers guild of america went on strike in may, and down 4% just sinceion joined them, shutting down hollywood essentially. they're rebounding a bit today but wall street is taking notice, with jpmorgan down trading the stock to neutral, saying the actor's strike rlimis the film supply outlook. sarah witten is tracking the action and here with he today, which is very nice welcome. so let's start with -- you have some figures behind this what do people think the opening weekend might be for barbenheimer >> they were saying $90 million, now as much as $140 million for just "barbie" alone. with "oppenheimier" it could be $60 million, so it could be $200 million just this weekend. so that's kind of crazy it will be $200 million. >> when is the last time since we had an opening like that? >> it's been a while we haven't had a true summer blockbuster weekend in a very long time. >> i saw some positive analysts commentary about the life of cinemark again, finally foot traffic and people buying all the stuff that goes with it going to the movies again seems to b

general merchandise stores, down to percent -- down 0.2%.ent -- amounts meant -- the mess of this announcement. how does this information for any -- fold into the q2 view? michael: it will go into the q2 view -- the retail sales report is not a real component. the control group is a proxy for retail spending but this is mostly goods. so it is the personal consumption number be get the end of the number -- month is the number of people want to see. tom: michael -- michael mckee, thank you so much. it was in a full seven basis points and now it is at three basis points after the revised numbers. jay bryson, chief economist at wells fargo. wonderful to have you. i think that states the consumer -- confusion, does wells fargo have very over the american consumer is doing? jay: that is a strong word. in general, when i stand back and look at everything, there has been deceleration in consumer spending. consumer spending in the first quarter in real terms grew over 4% annualized and we will not get in -- that into the second quarter. these numbers

things have come down.e here, you could see the daily life of a french citizen's back to normal. -- citizen is back to normal. guy: can i change direction and talk about where the french economy is going more broadly? the ecb -- and you are former chief economist of the oecd, you know what is happening here, the ecb is trying to hit demand in europe because of the inflation we see right now. they want to get inflation down to a 2% target, which is their job. it is a hard landing for france, a hard landing for the eurozone, worth the journey to 2%? dr. boone: i think we should take a step back and look at the situation. given the environment, the aggression -- russian aggression of ukraine, how energy prices have been volatile last winter and have now turned to where they -- returned to where they were before. if we take all of this into account, the u.s. economy and french economy are going at a healthy base -- pace. also taking into account fast interest rate rises. looking ahead, what we are seeing is inf

we're seeing wti and crude down.ws of early this morning when it comes to the percent decline. the prices are elevated. wti crude above 73%. brent crude $78 a barrel natural gas above 3% this morning. >>> time for the check on the corporate stories with silvana henao. silvana. >> frank, good morning the head of new york city's pension says it is planning to scale back its investment in equity markets speaking with the financial times, the cio said rising interest rates have changed the dynamic in terms of what you need to invest in. the $250 billion retirement system is one of the largest in the u.s. and it is reviewing long-term asset allocations for the five separate funds. he expects to see a shift from stocks to fixed income and high yield bonds and private assets and private credit and truck truck. >>> tpg is buying a unit of software provider forcepoint from francisco partners. the buyout will pay nearly $2.5 billion for the business unit. that is more than double what francisco partners paid in 2021. the journ

the s&p down fractionally about a tenth of a percent the dow down just about a quarter of a percent weok at treasuries ahead of the big fed decision at 2:00 p.m. eastern. take a look at treasuries. we're seeing it at 3.88. pretty much where it's been all week long. it's been pretty much range bound. we're looking at the energy market jeff hit on el nino and its impact on the energy markets brent crude down almost just about the same amount. natural gas down just about a third of a percent. >>> that's going to do it for us here on "worldwide exchange. thanks for your time thanks for watching. microsoft shares down almost 4% as well. we've got "squawk box" coming up next they'll continue the conversation ♪ old school wisdom, with a passion for what's possible. that's what you get from the morgan stanley client experience. you get listening more than talking, and a personalized plan built on insights and innovative technology. you get grit, vision, and the creativity to guide you through a changing world. ♪ >>> good morning it is fed decision day, but you know that. market wisely expectin

down project. and so if you go there there are walkways going through a heavily curated natural area so it's designed to look like a natural area but part of it is to try to slow things down. so that's there. then you get to five points, which is an early 20th century development. diokno at five points is is this an important part of your life in college? oh, i know they have changed some of the rules about drinking and it's really hard to get around illegal id and be able to drink under age anymore. and so five points has changed a little bit. so right, that landscape has changed because laws have changed. but nevertheless bars, restaurants, youth, clothing, stores, vinyl records, it is not a highly polished new place. it is a place with old buildings in it. it goes underneath five points. it comes out by the railroad track, shoots through maxi greg park, maxi greg park. it started in the early 20th century because there was not a whole lot that can be done with that wet area. and so they turn it

16.7% year year gasoline prices are down, year-over-year 26 1/2% fuel oil, airline prices down month-over-month, 8.1%. maria: that is. >> for those it is good news. but also too i want to point out that i am seeing a little bit of a boost when it comes to personal care, there was really interesting report out about the fact americans are starting -- because they got less assistance less food assistance less tax return than expected people are cutting back on spending on toothpaste toilet paper personal care you know american families are struggling great the fed may you know, cool their jets, wonderful but the average american, is still getting crushed by inflation. maria: yeah, let's face it. our wages are not keeping up with the pace of inflation, inflation numbers are rising more than the pace of our wage increases, that is a problem. pete how do you trade this. >> you know, one of the things you were talking about energy we look at shelter you talk about those numbers that how strong that continues to be, that is something that i think is interesting, because, when you look across everybody

how long do we stay down here? to joe's point, i do think inflation starts to continue to subside and really moderate. seeing that with auto numbers this month and other places of the economy. i think that's clearly a tail wind also yields pull back some and then the third piece for me is looking at the dollar. the that are is down 10% since its high water mark. we will see that going into the next quarter for clearly a lot of the multinational companies and a lot of growth which is in tech so i think that will be a tail wind for stocks. >> just getting back to did investors appreciate where inflation was heading? i'm going to argue a hearty yes and post this slide on twitter from my client call f. we take a bigger term look and go back to september of 2022, cpi 8.3 fast forward a quarter, cpi is 7, p/e is 16 fast forward a quarter, right now cpi is 3, multiple is 19 and change that 100 points is great but is a tiny rounding. i think people have been adjusting and that's why we've seen the multiple expand to 19 the

down across the board.e dow down about a third of a percent. that does it for us. "the exchange" starts right now. >>> thanks so much i'm here in for kelly evans. here is what is ahead. treasury secretary janet yellen is headed to beijing, as the biden administration is readying new technology curves on china we'll look at what is at stake plus, a federal judge just blocked white house agencies from communicating with social media companies. we'll explain what that may mean and have a look at meta's move to launch a rival to

that's trickle down. that's the failure of trickle down. the idea that as long as rich people have all the tax cuts and the wealth that they need, that will trickle down and lift the middle class. that's top down growth and that has decades of evidence against its effectiveness. middle out growth, bottom out growth -- bottom up growth, that's much more, i think, a much more lasting proposition in the sense that i just tried to communicate. heather: all right. let me run a couple by you. i know you heard some of these before. criticism comes on, there's so much investment happening at home. are we really the best place to do all of this manufacturing? so let me ask it this way. does president biden believe in free trade? jared: certainly, president biden believes in robust trade flows. i'm not sure what the word free trade means, to tell you the honest truth. i've seen free trade agreements that are 2,000 pages long and they involve a lot of things that aren't free trade like protecting pharmaceuticals. so i think we need to be careful what

trickle-down economics. it's a failure but the republicans continue to double and triple down on this approach. you know what trickle-down economics means? for everyday americans? you may get a trickle, but you're guaranteed to stay down. that's what trickle-down economics is. bidenomics, middle-out economics, is focused on everyday americans, on growing the middle class. and we have a track record to prove that we mean it. we're not just saying it. and we're going to continue to move the country forward in a positive direction. questions? reporter: thank you, mr. leader. i have two questions. what do you make of congressman eli crane referring to black americans serving in the military as colored people on the house floor? mr. jeffries: it was an unfortunate statement. his words were taken down and that was the appropriate thing to happen. reporter: second question here. i spoke with c.b.c. chairman horsford yesterday about the c.b.c.'s push to abolish the jim crow era blue slip process. do you agree that d

airline stocks down wit.hat's going on with that guide and what it mean

years imprisonment, you can go down. ., ~g , . down.stice goose there, down. so, that was mrjustice goose there. handing _ down. so, that was mrjustice goose there, handing the _ down. so, that was mrjustice goose there, handing the sentence - down. so, that was mrjustice goose there, handing the sentence down, i down. so, that was mrjustice goose | there, handing the sentence down, a lot of detail. there were eight counts that were considered, including handling stolen goods, so let's cross straight to danny shaw, a crimejustice and police commentatorjoining us here. i wonder if you could break this down for us, essentially, how long is connor chapman going to be spending in prison but hold on, we have the sentencing of thomas waring. you were not sentencing of thomas waring. m. were not involved in what he did, however, you knew that he had carried out a shooting when you met him at your house in the early hours of the 25th of december, a short time after the shooting. you agree to look after the submachine gun until it was later take

and then gradually cooling down in the coming days.he 2nd half of the weekend, truckee in the mid 90's with south lake tahoe at 92 degrees. so definitely above average 5 to 15 degrees above normal. their temperatures start to cool down near seasonal by monday into the mid 80's with mostly sunny skies. holding steady with a lot more sunshine on tuesday. temperatures remaining at 85 degrees. and let's take a look at your bay area forecast. cause we're starting to gradually cool down dublin out of the low 90's. but 89 degrees in brentwood out of the triple digits and 97 degrees still hot there. but for most of our napa valley, sonoma and allay in the low 80's. so our warmest inland valley certainly feeling the heat tomorrow, going to be no exception. another rinse and repeat pattern with concord and livermore in the triple digits. santa rosa nevado in the mid 90. so if you want to beat the heat head to the beach mother nature's ac cooling down our beaches and downtown san francisco into the low to mid 60's still hot on monday. but tempera

estimates are down 1%, 2%.s is the first year where they've had an anemic growth rate where it has been 14%, 15%. you will see muted results from them. dani: what earnings are you most worried about? anurag: microsoft will be the most closely watched because it will set the tone for the software space which is had a massive run over the past 3-4 months. any hint of slow down and cloud could be carefully dissected. dani: coming up, the imf gives this global growth outlook pierre-olivier gourinchas will join us for all of the details. this is bloomberg. ♪ the first time you made a sale online with godaddy was also the first time you heard of a town named dinosaur, colorado. we just got an order from dinosaur, colorado. start an easy to build, powerful website for free with a partner that always puts you first. start for free at godaddy.com kailey: we are an hour into the u.s. trading session. it doesn't look like anyone is trying to take a position before the big tech earnings. abigail: let's take a look at the i

a down trade yesterday from the likes of tesla which is down 10%. netflix is down 8% ibm. lot of names reported this week are met with adverse market reaction big week ahead coming up for the tech earnings with the likes of meta and alphabet reporting. we have yet to see if that tech momentum continues cac 40 is up .10%. we have been watching telhales. we will speak to the ceo today a drag on the french index the ftse 100 is slightly in the green this morning up 4 points. on the macro side, retail sales data for june come in stronger than expectations. politically, as we have been speaking about, we looked at the results of the elections which handed a bit of a defeat to the conservative party losing two of three seats up for grabs you can see in switzerland, up 2 points again, earnings coming thick and fast there the ftse mib is up .80%. this is the picture on the foreign exchange the pound continues to slip. off 130. that is where we were a couple trading sessions before the cpi data came out. now down 15 basis points do dollar/yen through 140 moving 1.2% against the yen

i just been down there six weeks ago.et's dig into the archives together and see what we can find. sounds like someone else is impressing some assistants, but. and if don't show up. like we have time for one more question. one more question of it. so, dr.. if i were to show up at williamsburg and want to see trenches and you said that for the most part things have vanished, but there are a couple places i can go see down there, correct. so newark new quarter park, you can play frisbee golf there around earthwork. no fighting took place there because they don't like to charge earthworks you have a quarter path road which are two earthworks that were not also fought over because nobody wanted to charge earthworks so you can visit those great example the topography that's there the excelsior was clearly documented by archeology right up until about three weeks ago when it was paved over for a pad site. so that one's gone. there is one core area of the battlefield left and that just went up for public sale about three months

that stock is down 8.7%. the concern is about margins as they continue to cut prices on electric vehicles. two other stories. i know the u.s. to your treasury has captured your attention. we are up about 11 basis points. where we were before last week's cpi print. interesting to see that as we see data coming through. wheat features had their biggest move up in more than a decade yesterday. the concern is about what is going on in the black sea. russia has pulled out of that grain deal, now threatening ukrainian ships heading to ukrainian ports, ukraine threatening ships to russian ports. ultimately concern about what that means for global food supply. the story to keep an eye on. guy: today is one of those really interesting days. there is lots to think about in terms of what is happening with the market. this chart encapsulates that beautifully. the nasdaq is outpacing its peers. the blue line is the stoxx 600. the white line is the nick i. look at the outperformance you're getting from the nasdaq. the ques

it needs to get its admissions down. -- emissions down.ly, india will need to unlock sources of financing to enable this energy transition. haslinda: thank you so much for that. let's bring in our next guest who runs one of india put spread -- india's think tanks. arunabha ghosh from council on energy environment and water. we heard about how india missed its renewable targets. what does it need to do differently to meet future targets? >> and miss the 175 gigawatt target -- it missed the 175 gigawatts target. it achieved its 2030 goals set under the paris agreement way back in 2020 one, whereby it now has 42% of its electricity capacity, which is coming from non-fossil sources. in needs to double down on the options. we now need to be auctioning 50 gigawatts of capacity every year. and yet has to deploy 11-12 megawatts of renewables for the rest of the decade. it has to lure the cost of finance. cost of capital is still higher in india than in the united states or europe. if you can bring that down it increases the ability of the utilitie

does it hinder your ability to go down the m&a route given the focus is on bringing down the debt levelso more manageable levels >> well, the focus we have now is then to take the growth opportunities that i talked about and the focus now is to realize sizable themes in asia we do have the exstrategic reviw in pakistan. in our adjacent business, the business here, we have an divest strategy we want to take positions on nordic security and iot. we may see over time that others can develop. >> sir, the ft back in march, reported that telenor is combining the businesses in denmark and sweden with those of the hong kong companies, the owner of telecom 3 can you give us more color. >> we are not commenting on rumors i cannot give you much flavor to that what i can say is we are looking at potentials for consolidations in multiple markets. that is why we are doing the mergers in thailand and malaysia and pakistan if we see opportunities, we will review them. i don't have more comments than that >> very clear, sir thank you very much for joining me on the show we appreciate you taking the time

it should be cutting those trees down. that's the first thing i thought of. >> we asked pg&e for comment specifically about neighbors concerns, but they say they can't comment until after the holiday. crews replaced the line this afternoon turning the lights back on around 3:00. tonight neighbors say they feel the utility needs to do more to prevent future fire. >> what they're doing right now, if they had done that two days ago, this fire wouldn't have happened. >> reporter: in lafayette, velena jones nbc bay area news. >>> for a lot of people in the bay area, we're getting some relief from the sweltering heat today. our live camera showing clear skies. the question is will the weather cooperate later tonight for the fireworks? >> chief meteorologist jeff ranieri joins us now. so we've been talking about this fog in the city, whether that's going to like every year we the fog, are you going to be able to see it. >> it doesn't look good, to be able to see the entire show. it's going to be shooting off into the fog in some

rich month's down as well.ther once like swatch are also trading to the downside and interestingly, almost all of the divisions were outstanding. leather goods were down just a little bit and david, the curious thing is the wine and spirits division. for some strange reason. cognac sales in the united states seem to have been down. this wasn't my fault i had absolutely nothing to do with that. i'm doing my best. >> we know you are, bob. >> thank you, david, that part for some reason was the weak part and it wasn't terrible, but when you moves like this, 24% in the biggest luxury retailer in the world, any little misstep, and this is part of the problem with earnings, with the price moves we've seen, good numbers are not good enough. and that's exactly what jpmorgan said >> i'm really glad that you delved into. it the numbers yourselves are very strong. but u.s. weaker, new entrance into luxury. cognac, which we talked about at the top of the show for some reason, people not drinking as much now, you had richmon

down marginally attentive 8% 4444 all of force.ook at nasdaq up as we saw in the premarket up one tenth of 8% 12 points of 13800 and let's take a look at the big tech names, amazon on the up six tenths of 8% for apple, meta, microsoft and alphabet all down ever so slightly. staying on apple struggling with production issues. >> apple is usually the supply chain king but in this case with the vision pro that i want to point out $3500, could there be a demand problem, maybe that is a lot of money but will get back to the supply-side, asking their suppliers to come up with 130,000 units. the initial number was asking for a million in the next 12 months that is a huge drop i'm looking at supply and demand challenges. ashley: the stock down a tenth of 8% today, let's get back to tesla talk about that with keith fitz-gerald. we discussed the huge surge and deliveries, what else did the report tell us. >> will get a lot more on the reports july 19 but beating the street by 20000 the numbers were for 66 deliveries versus 447. this speaks w

down over time. jobs are at risk. this is not an easy exercise. there is some danger involved. traditionally when the fed raised interest rates as rapidly as has occurred over the last year, we have had a recession. usually a recession creeds enough slack in the economy and form of higher unemployment that you bring inflation down. what the fed is trying to do is delicate. you do not want to do more than you have to do. if you don't have to have a recession, you want to avoid it. they have slowed down interest rate increases, but we are at the highest level since 2001. host: it could go higher, chairman palace is too soon to tell if latest rises the last one needed in this inflation battle. guest: the big question yesterday was is the fed done, that comes down to what you think is going to happen in the economy the next few months. the fed says it is data dependent, they will look at the next couple months of employment figures and inflation figures to decide whether the economy is cooperating and in

look at snap today down 19% why? we see that the search advertising is continuing to contract i believe that's what this week was going to be about. this week about search advertising. i think the right way to think about the reaction post earnings is that, to sarat's point, exceeded expectations. i believe that has to happen in the earnings season because, to liz's point, you have such an overextended technical nature in a lot of these mega caps look at texas instruments. expectations were so high. look at the s&p overall. you're still 4.5% away from the 50-day moving average. 10.7% away from the 200 moving day average. i think alphabet is an outlier in its ability to exceed those expectations >> we'll find out if it's an outlier. we have meta and amazon, nvidia. take a look at what happened with netflix and microsoft guidance was not so good unreasonable valuation levels and then not penalize if they miss they're rewarding them if they make it further extending them valuations are high in a rising interest rate env

shares are down .5%. mike, back to you. >> christina, thanks so much. >>> we are just getting started. up next, charting the second half. top technicians are plugging one part of the market that could determine the road ahead for stocks. the case for that after this break. >>> later, a big thread thread. looks like meta is taking on twitter with his newest app.how the launch could impact the company end bottom line. we are live from the new york stock exchange. you are watching "closing bell" on cnbc. ready to take your business to the next level? scale it with the commerce platform, made for entrepreneurs. shopify is specially designed to help you grow your business. with easy, customizable themes that let you build your brand. marketing tools that get your products out there. yeah, way out there. shipping solutions that actually save you time. and that's just the beginning. from start ups to scale ups. online, in person and on the go. shopify, your all in one commerce platform. bridgett is here. she has

a lot of people down there. i feel like i want to be in santa clara and hang out with everybody having all this fun. with taylor in town. >>> so should be a fun night but it's going to be a busy one. definitely start thinking about the plan and i'll shoal you some ideas right now. but first let's get through this morning grind out of the south bay right now. northbound 101, not too far from alum rock, there's a crash blocking the left lane and very slow ride. 87, 280. those are the alternate routes. you can use that. 880 looks good as well going through there. the weekend, yes, tonight and tomorrow you have got taylor swift's eras tour at levi's stadium. 101. 237, 880 all the freeways that get you to the area plus surface streets are expected to be very, very busy. so mass transit is going to be the best friend b.a.r.t. berryessa station you can hop on vta from there. caltrain has options as well. in fact vta will have extra lightrail stops. more train options and bus service lines as well like 55 and 57 and 59.

autonation is the down -- down by the most since september.argin pressure from falling car prices are overshadowing quarterly results. the company does not expect margins to return to pre-pandemic levels for the foreseeable future. matt: it is a very interesting time, we expect to see the margins get compressed not to pre-pandemic levels, but obviously as monthly payments rise, you have to do something to get the cars off the lot. let's bring in our guest who covers the auto industry for us out of detroit. a very interesting story. now we have two dealers in autonation and carvana whose top executive say they expect prices to continue coming down on new and used vehicles. guest: new and used are both coming down. in the case of autonation, they had an eps beat and revenue beat. gross profit vehicle -- per vehicle fell 25%. as the inventory gets replenished, the automakers are returning to discounts in order to move them. it's back to the old ways and that is taking a big hit on margins. amber: this is very interesting. car sales are one thing.