james cited jay powell. what can help the rally?k one of the things that all the market would agree on is the rally is fueled by artificial intelligence implemented in technology that is real and profits are real. one of the things that the market will realize is although the boogeyman of jay powell raising rates can kill the rally, but the reason for powell raising rates is almost nonexistent now. there is no recession. there is no high inflation in sight. inflation is on the way down. chairman powell reassured us of that. one thing to watch out for is the timing and size of the rate cuts. one of the things the market underestimated is the interest rates may level off with the pro pr productivity is at a higher rate. >> while you talk about productivity, you sent us a chart. it compare s. pc revolution and the dot-com bubble. you see the pc revolution on the left and the a.i. on the right. what is the most important part of the comparicomparison? >> we should realize the pc revolution did is boost profits in the 1990s. it was a tra

jay powell continues testimony on capitol hill before the senate banking committee as well as a pair from mic michelle bowman and loretta mester. fed comments from powell and company are likely today with the futures solidly in the green now. the dow would open up 30 points higher. the nasdaq is pushing higher from all three. joining me on the cnbc news line is the managing partner bryn talkington. >> good morning, frank. >> what did you think about what jay powell said yesterday and the market reaction? we have seen futures go from mixed to higher. >> i think the few good comments that chairman powell is able to get for some of the silly questions that congress members are asking is chairman powell clearly said we don't have to be at 2% before we cut rates. we just need to be in that glide path. that was his exact words. i think that gave a lot of confidence to the market that we will not have to wait until 2%, but if we have this type of data, we will get rate cuts. you don't want the fed to wait too late to cut. you want a cut before another nycb happening in the market. >> you bel

we have testimony from jay powell. have been unpacking that for you, two days of testimony kicks off today at 3:00 p.m. u.k. time. the bloomberg analysis is the expectation that powell will reiterate that patience around cuts. maybe he will remind investors and the market that the most likely next move is a cut rather than a hike. the resilience of the u.s. economy is something he is expected to articulate. jay powell with the testimony and potential market reaction to that, as of course, we came out of the gates at the front end of the year with expectations for as many as seven cuts, that has been pared back to three right now. job openings will build out the picture on the labor market in the united states. coming up, we will speak to the dhl group ceo to discuss the logistics company's earnings. some details around the shareholder buyback as well. this is bloomberg. ♪ ♪ tom: welcome back now. though u.k. chancellor is expected to cut two percentage points from the payroll tax national insurance in his spring budget

jay powell will be giving testimony. u.k.nesday and on thursday an update to the forecast. yields up, selling pressure for treasuries. up a 10th of a percent on the euro. bitcoin crossed above 64,000. currently flat and we will get more details because oil steadied after opec-plus extended production cuts. let's bring in bloomberg energy reporter. how is the market reacting to the extension. what will the reaction look like? >> terry reaction is they are not seeing prices search. if this were an opec-plus cut, maybe we get more price reaction but there is a view in the market that there is still froth in the market, excess supply. demand is not able to eat up the oil being produced so a continuation of cuts was expected. this provides a floor on prices, it's not a bearish situation and this is not happened yet. that leads to a situation where prices could stabilize depending on other parts of the market. tom: putting a floor on the market. what is the focus for the oil market beyond this announcement? >> tension in the middle

very much in line with jay powell's notion we are seeing a tight labor market and they can take the patientroach. >> we are seeing rising pages. we are showing the audience the forecast with the 4.4% increase of wages. powell made it clear they don't need to see 2%, but more reports where the trend continues. do you believe that will not only give investors confidence, but the fed confidence to make the cuts in june? >> absolutely could. i don't think that is what we will see. if you look at the latest inflation data, not only are we bouncing along as opposed to seeing the dissflationary trend. waging are expected to remain well above 4% on the annual basis which per petpetuates the sticky inflation. to your point, the fed doesn't need to see inflation reach 2% before initiating rate reductions. they want to make sure the momentum is clearly established to the downside and the latest data does not support that. >> lindsey, today is international women's day. one thing in the report is women ages 25 to 54. it hit a new high in the last report. bolstered to the shift of remote work and hours.

"worldwide exchange" including one word investors have to know today but first getting set for jay powell'swo-day capitol hill testimony. we're going to speak with former federal chair roger ferguson about what powell needs to say to reset expectations. >> plus much more on bitcoin's rally and the spectacular selloff. we dig in whether the sector has what it takes to hold the levels for the long term. >>> plus, openai fires back. the blogs,posts, and emails. all of that coming up when "worldwide exchange" returns stay with us [sfx: wind, rain and rolling thunder] nobody's born with grit. british announcer: rose is really struggling. it's something you build over time. american announcer: that's 21 missed cuts in a row. [car trunk slammed shut] for 88 years, morgan stanley has offered clients determination and forward thinking to create the future... crowd: stop it! ...only you can see. american announcer: rose, back in the winner's circle. [crowd cheers] [music out] what it takes to hold the levels [♪♪] your skin is ever-changing, take care of it with gold bond's healing formulations of 7 m

haidi: jay powell of course reiterating to lawmakers that the central bank is in a rush to cut interest rates. powell saying that borrowing costs should come down this year but made clear policymakers are not ready to move yet. >> we believe our policy rate is likely at its peak for this tightening cycle. if the economy evolves broadly as expected, it will likely be appropriate to begin dialing back policy restraint at some point this year. the committee does not expect it will be appropriate to reduce the target range until it has gained greater onfince hat inflation is moving sustainably towards 2%. haidi: let's bring in our first guest at morgan stanley investment management. as we said that, the same message we have been hearing for a period, is there anything that markets need to digest or take away from what we heard today? >> i think it is just we are in this period of time when the fed is done raising rates and they have not started cutting and historically, that's a very good sign -- a very good time for equities. as reiterating his comments which is that the economy is strong

jay powell.o, this guy is the worst. so the notion he can pull this off, looks like everyone is starting to become a believer and it is not just main street, folks. take a look at this. these are professional newsletter writers. this is the bullishness. this is rocketing high. at a level typically associated with the market coming down. these are the experts. they get paid a lot of money on their newsletters. they're extremely bullish. retail sentiment investors, 51% bullish, that is extraordinarily high. i will say this, i know the wall street loves to the diss the retail investors they have been spot on last couple years more so than the pros. everyone on the same page. that kind of makes us a little bit nervous. i want to say one thing about the retail investor and i want you to pay attention to this. we always wonder where is the buying going to come from? three years ago, 3 trillion-dollars in margin this is how much money they borrow to buy more stock. the more they borrow at some point you

what advice would you give jay powell?ve a direct line to jay powell and i don't want to fix that. [laughter] but i do have a couple folks we get a chance to speak with and provide input. the fed come out of chicago, listens to us. i also had a chance to be on a panelt of the minneapolis fed and my advice was the same, we need stability at this point in time. we have not seen that of the cost running through the system, meaning, understanding, what does that mean to a small business when i have to pay a higher interest rate cost? my advice would be calm and steady i think will win the race here. i think the point has been made that rates will not move. but, now is the time to allow individuals to figure out how do we build that level of resilience across your balance sheets? so, if we run into more turbulence at some point in time you are of dealing with that. peter: any one else have advice or input for the fed? what's am in no position to give jay powell advice but i agree about calm and steady. we are a fractional banki

stocks mixed in asia after fed chair jay powell said he still expects u.s.st rates to fall this year. let's bring in former bloomberg's mliv team. what will the takeaway be from the fed meeting later this month, what did you take from what we heard from jay powell? >> good morning. i think that the fed unleashed a lot of spirits on the markets. when they did a dovish dot plot indicating three rate cuts in 2024. since then, the incoming data has shown the economy is doing well with the cumulative great heights -- rate hikes we have seen. the labor market is still going strong. the disinflationary narrative that we saw has stalled for now. so there is hardly any incentive for the fed to greenlight those three rate cuts that they signaled again when they meet in march. i think that they will take back one of the rate cuts that they had penciled in. that will leave us with two great cuts. that ties into what the cash carrier has said recently. i do think there is a hawkish out that we should expect from the fed this month. tom: that's really interesting. kashkar

we're watching for signal from jay powell and company. >>> still in the early stages, what nvidia is telling jim cramer on the back of the compy's new chips. >>> and the faa setting off a recent wave of safety issues. what the airplane giant has to do. >>> and a stock split. >>> it's wednesday, march 20th, 2024. you're watching "worldwide exchange" right here on cnbc. ♪ >>> good morning and welcome to "worldwide exchange." thank you so much for being here with us. let's get you ready for the trading day ahead. we're going to get a check of the markets with the u.s. futures getting set for another day of the markets. take a look at the futures. in the red across the board. looks like the dow would open 15 points higher. slightly under pressure. it ended extremely vol a title yesterday. the dow seeing its best day in nearly a month. let's get a check of the bonds and the big fed rate decision later today. taking a look right now, we're seeing the benchmark coming in at 4.27. we're going to talk much more about expectations coming up. we also look at the oil market continuing its bounce

what the next meeting what will we hear from jay powell? it's all about timing.om: bloomberg's jill, thank you, indeed. we talk about fiscal stimulus we have to think about the budget plans. a budget proposal would deliver more services, tax breaks and price controls funded through taxes on the wealthy. what is standing out to you? >> how you get the ballooning deficit under control, the biden administration is $1.6 trillion per year, addressing the deficit. 1.6 trillion over the decade. bidens approaches to tax corporations. corporations, anyone getting a lot of revenue including european corporations that get revenue from the united states. trying to stem the hemorrhaging. and a lot of pushback from the gop. the only big major change was an increase in defense spending, a smaller increase than some around the world. the kind of support he wants to give the lower middle class will not be helpful. at the end of the day you will remember the big selloff, a lot was centered around the fiscal deficit. if you can't get that under control the world suffers. tom: i thi

maria: when i spoke with president trump p recently he told me he would not reapoint jay powell as chairmanal reserve. you're going to be speaking with jay today, he'll testify before the house financial services committee today and tomorrow in front of the senate banking committee. what do you want to focus on with jay powell this morning? >> jay powell comes back to the hill this week, facing two big issues. first, the avalanche and tore os spending has made the fed's job of controlling inflation much tougher. the fiscal stimulus, the avalanche of spending has made it tougher for the fed to get interest rates in the position to lower them. it's higher than the fed's target. households confronted 17% higher prices than they faced under donald trump. so number one, that's going to get a lot of questions, is he going to lower rates. the job against inflation, the biden infl inpl inflation is no. the second point is the biden regulatory policy, trying to push the fed to increase regulatory costs on banks at the moment when they're trying to struggle with those high interest rates that were ne

maria: welcome back federal reserve jay powell will be on capitol hill testifying for the senate bankingpowell expected to provide lawmakers and update on rates, the economy and biannual humphrey hawkins testimony. north dakota senator and senate banking committee kevin cramer, it's great to see you. thank you for joining us. what are you expecting from powell today, what do you want to ask him. >> i'm expecting what i heard yesterday and when you go second, the banking committee can do it one day after the host committee, you kind of have to get a little bit creative, one of the interesting discussions yesterday and the house committee was the workforce and immigration policy and when you look at the barriers to the growth of the economy going forward and seems like workforce is a big one and it seems like rado human being shortage cannibalizing between industries and within industries. i might dig into that and were all curious about basel iii and regulation to and the impact of regulation has and frankly i thought your previous interview with anton covered banking and financial servic

we will hear from jay powell later today. just as dovish as he was when he went to capitol hill. it looks like we're on track for the three cuts. how do you advise your clients? >> this is the position that we are positioned for here. we expect 100 to 125 basis points of rate cuts this year. we think that is a situation where we expect the market to continue to rally and for the leadership to broaden. more t importantly, we expect the b barbell situation. we will continue rates to go lower. the back up in rates would reverse. we see small caps and other sicyclicals in the market. from the secular perspective, that is the issue with the banks and continued healthy growth of the economy. the loan books would do well. >> thank you for staying for you used. we were hearing vance check his mic while you were talking. vance, before were expecting six cuts. now we're down to three. how important is it that we get these three cuts and if we do get themas expected, how do you advise your clients? >> powell said he was dial back. i'm b

fed chair jay powell not ready to cut rates yet our next guest says the biggest risk he sees now is the fed waiting too long to lower rates. >>> openai fires back, publishing elon musk's emails. what he wrote and how it may change where this fight goes next >>> and there's a new fomo trade emerging says one analyst and it's not too late to get in on the action he is here with the trade and the upside of this industry. >>> now a check on the markets the major averages are rebounding, but the chart of the day right now once again goes to new york community bank corps. believe it or not. down more than 40% so far on reports thousand that the bank is seeking a major capital infusion from outside. and that's where we are going to start with these green markets, a very deep red picture, and leslie picker has the details on nycb >> so it appears to be that this would be an equity capital raise, and that they reached out to a variety of investment firms. my understanding in talking with a couple of indirect sources over the last few minutes or so is that this is likely a lot of these conversati

the state of the union address as we have made note of as well as jay powell testifies.ore speakers with loretta mester set to speak. don't miss the ecb decision and the conference from the governor christine lagarde at 2:00 p.m. cet. i'm arabile gumede. thank you for joining us on "street signs." "worldwide exchange" is up next. do you have a life insurance policy you no longer need? now you can sell your policy - even a term policy - for an immediate cash payment. we thought we had planned carefully for our retirement. but we quickly realized we needed a way to supplement our income. if you have $100,000 or more of life insurance, you may qualify to sell your policy. don't cancel or let your policy lapse without finding out what it's worth. visit coventrydirect.com to find out if your policy qualifies. or call the number on your screen. coventry direct, redefining insurance. hi, i'm ben and i've lost 60 pounds on golo. (guitar music) i've struggled with weight my whole life. i'm sure you're like me and you've tried diet after diet. if you want to stop the insanity, try

confidence they need that inflation is coming down to begin loosening policy according to chairman jay powellho gave his second day of testimony to lawmakers yesterday. powell gave his take on the economic picture and speculation grows that the central bank could move to cut rates toward the middle of the year. >> what we expect and what we are seeing is strong growth and labor market and continued progress in bringing inflation down. if that happens and if the economyevolves over that path, we think the process of carefully removing the restrictive stance of policy will begin over the course of this year. >> this comes as weekly jobless claims came in at 217,000. that along with the wednesday's softer adp jobs report suggests that labor conditions could be beginning to ease all ahead of the non-farm payroll report which lseg data could indicate a deceleration from the january figure with the gain of 200,000. carl weinberg is joining us. thank you for the time, carl. would you be surprised to see the number drop off to 200,000? i suppose that softening is the result of the effects of the high

we think about jay powell promising to be volcker 2.0.s. the reason burns is burns he blamed congress, he cannot do the right thing because congress kept browbeating him. do you think there is some sort of pressure? we heard from elizabeth warren, bernie sanders and maybe pressure from the white house on jay powell as well? >> we say on the podcast all the time, everybody has a plan until they get punched in the space. particularly fed chairman, they see any sort of stress they jump. a year ago in ma when svb headline came out, all of sudden opened up the bank lending program. that told the market they're quick to react in response to anything that is relatively negative. he is not paul volcker. paul volcker was willing to with stand it. people are saying how well jay powell is threing the needle. by a six month time period he missed the whole transitory thing when inflation was obviously not transitory. he got us to where we are right now. not ready to pat him on the back. he has a tough job particularly with the way federal government s

where fed chair jay powell has been reluctant to make a call on how the u.s.omy has changed since the pandemic. the feds economic projections for the long haul have hardly changed since 2019 and investors are growing frustrated over policymakers lack of conviction. furthermore, let's bring in our guest for some analysis from the big take and we know that there are risks to calling out any sort of changes or new futures in the u.s. economy, not least politically in the election year, but is that what is holding jay powell back at this point in time? >> it is interesting because i think what you are seeing here is a disconnect with what a lot of companies and investors are experiencing on the ground where they are saying this labor market resilience, this tightness they are experiencing seems like they are kind of settling in for the long haul and they are seeing that change in the overall economic picture. we really have not gotten that really robust forecast update from the fed in quite a while. at this point, traders are pricing in something like 3.5% longer-

by fed aichr jay powell and his expectations for job.med shut] data "squawk box" will be right back. , morgan stanley has offered clients determination and forward thinking to create the future... crowd: stop it! ...only you can see. american announcer: rose, back in the winner's circle. [crowd cheers] [music out] the all new godaddy airo helps you get your business online in minutes with the power of ai... ...with a perfect name, a great logo, and a beautiful website. just start with a domain, a few clicks, and you're in business. make now the future at godaddy.com/airo they're waiting for you. hey, do you have a second? they're all expecting more. more efficiency. more benefits. more growth. when you realize you can give your people everything, and more. thank you very much. [applause] ask, "now what?" here's what. you go with prudential to protect, empower and grow. with everything you need to deliver, you guessed it... more. one more thing... who's your rock? learn more at prudential.com >>> nikki haley planning to exit the president

jay powell will testify before the senate banking committee.l services committee yesterday and what he said and how he actually said immigration was one of the reasons that the economy is growing. >> well, he's looking at things -- we're feeling he's looking a at things what holistically. that's more government spending. we espent $450 billion last yean processing and settlement of illegals. if that's added into the gdp numbers, that's not exactly product i've the. what i heard yesterday was largely a very sober interpretation of where things are. it was more holistic than chairman powell has been in the past. they agreed they were very slow in dealing with inflation, two years ago they were calling it transitory. now the most rapid increase of interest rates ever. that's where it is. powell said some very important things. bbasel three is going to have broad and material change as he stated. he also stated that spending was minimizing the level of inflationary growth and a they're going to be staying there with the interest rates until some re

blackrock looking ahead to jay powell's testimony. we begin with our top story. cted to reiterate. blackrock saying this, when prices continue to moderate inflation is still running about target. a higher degree of confidence. we believe that a june 1 cut is realistic. i have this testimony, we have reduced attitude and stocks have done ok. how relevant is monetary policy? >> i think people are fixated on inflation and the messaging. that said, you kind of look at the internal and is been fundamentals much more than inflation. when we got information about an inflationary trend, there was a pop stuff. but what is performed today and our companies putting up good numbers that have been raising guidance have been raising fundamentals. it is going to be what we do for hours on in. -- end. jonathan: when inflation was high, they had this ability to pick up prices. i think you are asking this question because you know. even through last year where prices were rising, we saw a continue to focus and thinking about strategies to expand margins. i am actually very optimist

jay powell has a lot to answer for right now. in addition to that you will get what we always get on fed day the emotional moves, it is really money following money. it doesn't seem to have any rhyme or reason. we get a chance to sleep on it. a lot of times the next day is the exact opposite move. i have to tell you folks, that is when it gets really worrisome. here is the good news we'll bring back qi research, ceo, danielle dimartino booth, economist, strategist, frances donald. i will apologize for jim, i almost always call you mcdonald every time. >> if jim grant saying it no worry. charles: he can call me hey if he wants to. i'm good with that. >> me too. charles: this is point brought up a lot, danielle i will ask you, the veracity of the data fed uses to make decisions particularly government surveys. we have a table we'll share with the audience. no one is filling out the survey. so from the, even before if everyone filled it out there would be questions but with 1/3, some of these surveys how do you make decisions on an

jay powell understands that if he cuts interest rates it will stimulate the economy and it will createi don't think chairman powell wants to go down in history as the federal reserve chairman who couldn't get control of inflation. larry: you know, senator kennedy, i think i'm going to keep my house, because, hold your breath, i agree with you on this point, [laughter]. i'm going to hang on to my house. >> good. larry: i think you're right too. i don't think jay powell is dumb enough to do that kind of thing. >> i bet you have a nice house, larry, nicer than mine i'm sure. larry: i don't know. we'll compare sometime, senator. you can be a house guest at our place anytime you want in rural connecticut. >> i heard your house is bigger than a costco, man. larry: [laughter]. senator john kennedy, we love having you on the show, senator, thanks so much. coming up here on "kudlow," why do democrats hate israel? we'll talk about it with mississippi senator roger wicker. and then why is inflation actually much worse than you think? a new study by larry summers. we've got steve forbes and mike f

to announce she is stepping down and will exit the campaign, and if jay powell on the hill speaking toal services committee in the house. i want to thank my guests this morning, great show, you guys. >> thank you, maria. >> thank you. maria: great to see you all. we will see you soon. see you again tomorrow, same time, same place. stu, take it away. stuart: good morning, everyone. it has been a i tumultuous 24 hours in politic the

and the speech from jay powell. nasdaq futures pointing lower. let cross asset, we saw a bit of a selloff across u.s. treasuries on the back of comments from chris waller. he wants more data before he is that confidence. he argues you can push out those cuts into the future. two year 460. the japanese yen continues to gain our interest on the intervention to risks from japanese officials, 151.34. 152 seems to be the light of the sent. brent, it is six dollars per barrel, a bit of again after the softness on oil prices of .4 of 1%. gold up .10 of 1%. let's take a close look at 2024's first quarter. kriti gupta brings the context. the year has brought currency surprises. >> surprises but not surprises, it is an easy story when you look at the japanese yen, the swiss franc, the underperforming conference -- currencies that create the basis of the carry trade that creates complacency in this market. it is easy to grab yield and the fx space if you were going short the yen or swiss franc, and that is spend the theme in the first quarter despite the fa

that is the question for jay powell.arkets are trying to put this strong economy together with where the fed is and see if they line up. for the moment it looks like they do but of course we have to wait and see what the chair says. lisa: do you think that he will come out and say i'm sorry, i was wrong and maybe financial conditions are loosening a little bit too much? >> anything is possible the generally one doesn't hear that from fed officials. the question is, are financial conditions loosening enough or too much at this point? the economy is stronger than people anticipates that there is a logical action of whether the fed funds rate is tight enough at this point. and whether they think they need to do more if the economy stays this strong or whether it is just a question of keeping it where it is for longer. that is a question for powell. the one other thing we might look for here is whether they changed the long run fed funds, the neutral rate. has that moved up, it is it now higher than it was? it has been 2.5%

eastern with fed chair jay powell set to speak at 2:30 p.m.xpected to remain on hold the fomc will release a new dot plot and projections. still expecting three cuts this year with a dovish chair powell despite a string of hotter than expected inflation prints since the last meeting. if you been missing the coverage over the last week on the dot plot, it will on the -- it will only take two officials of the federal reserve to come up and that will change the median. from three to 2. is that a big deal given the direction of travel over the last few months? lisa: we are talking about eight of 19 fed officials. this is how closely people are scrutinizing this. they have two rate cuts priced in rather than three. if two more join that, then you have a baseline. i'm interested in the longer run and how they telegraphed a longer-term inflation expectation of longer-term rate expectations for next year in the year after. do they expect neutral not getting higher but not being able to cut is much longer-term? jonathan: do you think they will entertai

does jay powell really care about joe biden? ll, powell's term as fed chair goes all the way to may of 2026. there's really nothing joe biden can do to him, because biden will be retiring in january of 2025 anyway. and jay powell has indicated that he won't seek a third term. and for all the cynical talk about how the fed somehow must bend to the political whims of the president and his little minions, i actually think powell is immune from that kind of thinking. anyway, why should the fed get tangled up in election year politics? especially because the actual ed on inflation does not point to lower fed interest rates. that's the important part. now, surely the year on year inflation has dropped from 9% to somewhere between3 and 4%. but even with that, the actual level of consumer prices is up over 18% during biden's term, and that's driving typical families crazy. measured there from february of 2021, groceries up 21%, gasoline up 30%, cars up 20%, airline and transportation services up 34%, and those are just a couple of catego

tom: whether jay powell lobbies the fomc, it is risk off. i'll are up.s it about the narrative around stinky u.s. inflation? >> it is partly what you mentioned, the slide bitcoin triggered a broader move of people saying bitcoin is giving up gains. we should pare before a huge week. hong kong stocks having a bad day. equity markets are down copper is doing well but iron ore is not. people are adjusting all the huge things coming. maybe it is better to be on the sidelines. if you're looking for excuses for taking money off the table, there are plenty. tom: complexity on this day with divergence. thank you, fascinating. of course mark is one of our key strategists. here is what we are looking at today. final french cpi for february. survey is looking at 0.9% and we will see if that comes in. dovish commentary from some officials and inflation data are out of france is crucial to the assessment. 2:00 p.m. u.k. time we switch to the u.s.. university of michigan sentiment survey suggesting retail sales were softer. whether the university of michigan sentiment

." >>> jay powell and the fed maintain the commitment to the rate cuts. >>> the rally rippling through the markets. japan hits an all-time high. >>> equity in the ipo markets as reddit gets set for the first trade which followed a rocket ship of a debut. >>> stellar quarter for micron has the chip sector surging ahead of the open. >>> possible pressure for apple and anti-trust allegations. it's thursday, march 21st, 2024. you're watching "worldwide exchange" right here on cnbc. >>> good morning and welcome to "worldwide exchange." thank you for being here with us. let's get you ready for the trading day ahead and the check of the u.s. stock futures with the dow, s&p and nasdaq all coming off record closing highs and looking to push deeper into the green this morning. the futures market is strong showing for all three. the nasdaq is opening up .75% higher. you see the dow looking like it would open up more than 100 points higher. we are paying attention to small caps with the russell indicating gains. you have to see small caps rising 2% with super micro in the red today. and80 s&p 500

jay powell indicating they are looking to cut rates. not quite just yet but the path is pretty much the same when we thought we were on already. haidi: maybe not so palpable as any sense of relief when it comes to investors looking at china. we have seen policymakers across the board kind of hitting back, defending that around 5% gdp target, saying it is attainable and there is room for further cut rrr and the other thing of course we are watching is japan, this kind of rapid positioning for lift off from the boj and those wage numbers were not too bad. annabelle: certainly, actually pretty much stronger than what had been expected because we saw cash earnings rising to percent and that was a lot more than what the survey had been for a gain of 1.2% but this is the start of trading here we have got with the broader index or the nikkei 225 that is back above the 40,000 marked them. we have been fractionally below that over the course of the week but certainly, the stock moves we are seeing here echoing the u.s. session overnight as we di

so what do you think we'll hear from jay powell on this week, wednesday and thursday?e fed speak really in the last several weeks has been around the concept of continuing caution while they they see a lot of progress has been made, they don't want to act prematurely and i think looking at the rising inflation we've had really since mid-2022, again, they're really wanting to make sure they can counter act that by ensuring that the data is coming in sufficiently supportive of their case to really be able to begin to move to a pivot and so we expect chair powell to continue that messaging here as he testifies before both the house and the senate, really in terms of just continuing to emphasize the data dependence and need for continuing evidence before really moving further. maria: mark ten r, jump in -- mark tepper, jump in here. >> i expect jay powell to double down on the rhetoric of the fed being in no rush to cut rates any time soon. when you look at what's happening and go back throughout history around the globe, whenever there's a high inflinperiod, -- high infla

annmarie: we will get jay powell in front of the house, super tuesday tomorrow.super tuesday. it is all but done. the biggest will be the state of the union. in terms of bidens performance, poll after poll says he is losing voters in terms of how they feel about him, the one seagate in 2020. for me it is less what he says but how he says it. the washington post says keep the state of the union shorter. jonathan: unemployment at 4% for more than two years based on the data friday and somehow he cannot connect with the electorate. somehow the electorate thinks the economy is doing poorly. lisa: this electorate has a lot of issues. you cannot speak of the electorate as a monolith. you have people grappling with prices much higher than a couple years ago. you talk about the buildup, the residual kinds of inflation. there are social issues. there is a feeling of which political party you belong to. there's a feeling of which media you are tucked into. these are things you are real. jonathan: if you are hooked into bloomberg we can talk about all-time highs without the

if jay powell says this is absolutely going to move the opposite direction and keep us higher for longer. stocks are going to take a hit. they just aren't necessarily going to execute that right now. i thought that was perfect. >> equities on the s&p. positive by 0.8% on the s&p 500. in the bond market yields just aggressively high through last week. still 430 on the 10 year. coming up this hour, monica descends on where she thinks stocks have to run. isaac bolt and ski on tariffs for chinese ev's. in the former fed economist claudia looking ahead to wednesdays bankrate -- fed rate decision. the stock market hitting ahead of the decision. monica saying we need to acknowledge the strong start to the year with the s&p 500 not only a few percent away from the 2024 price target but also arguing for more selectivity and being thoughtful if you're still sitting on too much cash. we believe stocks will make new highs. monica joins us in new york. good morning to you. new highs in this equity market. talk to me about how you put cash to work? monica: the challenge has been certainty. the fed is

you have jay powell testifying in washington.is in no rush. >> what would gdp and global growth rate get and what is the demand for oil and gas at the end of the day? high interest rates stifle the global growth around the world and here in the united states. it does have an impact on demand at the end of the day. that is the cycle of the business. >> ryan, thank you. ryan lance from conoco phillips. andrew, back to you. >>> thank you, becky. when we come back, steven mnuchin to the rescue. the former treasury secretary and investors giving troubled new york bank corp the latest. >>> and the anti-defamation league's jonathan greenblatt will talk about corporate america and how they battle rising anti-semitism. we are back with that and more after this. >> announcer: currency check is sponsored by interactive brokers. the best informed investors choose interactive brokers. this thing, it's making me get an ice bath again. what do you mean? these straps are mind-blowing! they collect hundreds of data points like hrv and rem sleep,

markets are on the move ahead of a major week of retail earnings and jay powell's testimony on capitol hill. we'll talk with the word on wall street panelists coming up with their expectations, what will jay powell say about lower interest rates? you're watching "mornings with maria" live on fox business. ♪ in a rocky mountain setting spanning over 280,000 acres. three forks ranch is the destination for luxury and adventure. enjoy fly fishing and america's finest trout stream. kick back for intimate performances from the best in country music. enhance your wellness and longevity through our mayo clinic programs, or plan your meeting for a memorable corporate retreat. discover the west kept secret. go to three forks ranch.com to book your luxury experience. get help reaching your goals with j.p. morgan wealth plan, a digital money coach in the chase mobile® app. use it to set and track your goals, big and small... and see how changes you make today... could help put them within reach. from your first big move to retiring poolside - and the other goals along the way. wealth plan can help

let me say, i think jay powell is doing an excellent job as the chair of the fed. he is keeping the process apolitical. that's fundamental, i think, to the way a central bank has to operate. >> dennis lockhart, thank you for getting up early for us today. i appreciate that. >> thank you. >>> let's check on the top corporate stories with silvana henao who joins us. silvana. >> contessa, good morning. the biden administration is calling on the senate to move quickly on the bill to force tiktok's parent company to sell the social media company. the call by national security adviser john kirby comes after the senate cleared with overwhelming support. senate majority leader chuck schumer said he is in no rush on the bill the and congress must as a second package of funding bills by friday's deadline. >>> we are watching shares of boeing this morning. down about 1% in the pre-market. now, this is plane problems and the faa and united airlines say they will each investigate the incidents with the united planes which lost a panel on friday. ground crews discovered the plan

it is money of jay powell's business how many doritos are in a bag of chips.is none of joe biden's business what uber and lyft charge at 5:00 versus 6:00. you know who cares? the consumer paying it. you know who cares in the producer either getting it or not getting it. westernty's shouldn't say they were horsing around, they should say we were trying economic calculation. sometimes you get things right, sometimes you get things wrong. is ask the new coke in the 1980s. you try things. if they don't work, you move on to the something different. the state intervening hurts the process of consumers and producers working together. charles: so i thought about you last night because now there's a proposal to take the pax tax -- tax buybacks, right now it's 1%, make it 4%. corporations reward share holders through buybacks and dividends. if biden were to get reelected and we had a 4% buyback tax, could that bolster to pay out some dividends? >> it would. and i want to be very clear that i don't want hem to do it just because it would help my book and the way we go ab

eastern and hear directly from jay powell at 2:30 on the path forward. we'll see if he's a little more hawkish than usual. i think that's what came out today. you agree with that? >> there's no reason to lower now, that's for sure. expectations have been ratcheted back. maria: thomas, great of to have you, come back soon is. have a great day, everybody. "varney & company" pick it up. stu, take it away. stuart: good morning, everyone. try to find the news on the border these days, and you'll get whiplash. late tuesday the supreme court said it's okay for authorities in texas to arrest illegal migrants. just a couple of hours later an appeals court in new orleans says, hold on, we're pointing to hear an appeal to the texas law so it's on hold while we deliberate. biden says republicans are blocking real border solutions. that's strange when with texas is the only place that has actually cut the illegal flow. more politics. trump's candidate won the ohio gop primary. he solidifies his grip on the are republican party. biden won all the democrat primaries, b

what advice are you giving to jay powell. >> i don't have a direct lane to jay powell so i don't wantke that, but i have a chance to speak with folks and provide and the fed out of chicago, and i think that we need stability at this point in time. we have not seen the net effects of the costs running through the system meaning, understanding what does that mean to small business when i have to pay a higher interest rate cost. so my advice would be calm and steady i think will win the race here. i think the point has been made we sho for granted that race won't move, but now is the time to allow individuals to figure out, how do you build that level of resiliency across your balance sheet so if we run into more turbulence at some point this time you're capable of dealing with that. >> any advice for jay powell or input for the fed? >> i'm no person to give jay powell advice, but calm and steady. we're leaders of the financial system. let's never forget we're a factional banking system. iff us suffers the run that sb had, we're not to be. and we have substance and from a capital idity s

investors are awaiting jay powell's report to congress for dates on the fed rate outlook.aidi: ahead opec-plus extending its supply cutbacks until midyear amid soaring production from rivals and uncertainty over chinese demand. stephen: in beijing, one of china's most important gatherings of the year is about to begin with leaders set to unveil their targets and strategies, perhaps policies, for road -- reviving the economy. annabelle: kicking of the week with breaking data out of korea this morning. we have industrial output numbers dropping but coming in better than expected over the course of january. output of more than 12% or 13% on the year passing estimate were 10%. also industrial output is falling, still and a contraction down 1.3%. the estimate had been .9%. the headline reading, the year on your number is certainly a lot better than what had been predicted by economists. it could be down to the drive for strong external demand for chips, for automobiles. one of the concerns with that is when you have a narrow cap, that small group of industries posing a risk to

the market is telling us what it thinks of jay powell, 3 cuts in 2024, 75 basis points.e relevance of historic data, has to be reevaluated little bit. what the investors and investment community, ending a spectacular quarter across the board. pullbacks and markets, if you call this, we've had three months of solid bullish market down 100 points. nothing to know about. neil: a lot of people saw this as the internet boom all over again, you 've covered many a boom and bust. what do you think of that? >> a number of people are smarter than me like dan ives of wedbush, you've spoken to him before. if i may call it that, the amount of money put into it was multi trillions on fast track, we need to note we've seen a nice breath of the russell, has also been in the solid bullish mode, it is not taking it where it needs to go today. suddenly, even if tech pools back a little bit, even with intact, even those are on the super cryer. there's another market performing well. neil: right on all counts as usual. good seeing you. >> see you at dow 40,000. neil: peter tuchman. thank you

eastern and hear directly from jay powell at 2:30 on the path forward.hink that's what came out today. you agree with that? >> there's no reason to lower now, that's for sure. expectations have been ratcheted back. maria: thomas, great of to have you, come back soon is. have a great day, everybody. "varney & company" pick it up. stu, take it away. stuart: good morning, everyone. try to find the news on the border these days, and you'll get whiplash. late tuesday the supreme court said it's okay for authorities in texas to arrest illegal migrants. just a couple of hours later a

all eyes are on jay powell and the fed.n't have a rush to cut rates. >> real quick, final word. >> jetblue termination is because of the government stepping in. they are doing it too much and it's antibusiness. >> they don't want to see companies get bigger. thank you everybody. see you same place. varney and company picks it up. >> what a week

looking at the 10-year yield, off by seven basis points as we anticipate jay powell's speech. a look at what is happening in the asset class we need to talk about today. this happened just after 9:00 a.m., but we are looking at a 66 back to it at the moment. we had that psychological level. already we have seen the market capitalization eclipsed that of 2021 because there is more big going in -- more bitcoin in supply. we are currently up 9.9% the course of what has been a mega run throughout 2024. 2023, lower, in the doldrums. but we are back at that level we had in november 2021. ed, what are you watching? caroline: there is a lot -- ed: there is a lot in the news flow hitting technology shares. tesla, a fire near its berlin plant has halted production. investigators are investigating whether arson was the cause. data on china is a softer, showing that sales of tesla not as strong. that stock under pressure. two other stories. we are going to head to d.c.. bloomberg reporting that u.s. officials are going to block amd selling a made for china lower-spec gpu. it is something

jay powell keeping rates unchange signaling rate cuts on the bored, we have reaction, do not credit the's decline we're on that you are watching "mornings with maria" live on fox business, stay with us. . ♪ ♪ . ♪ ♪ next. next. stop. we got it? no. keep going. aga... [ sigh ] next. next. if you don't pick one... oh, you have time. am i keeping you from your job. next. i don't even know where i am anymore. stop. do we finally have it? let's go back to the beginning. are you... your electric future. customized. the fully-electric audi q4 e-tron. ♪ ♪ (♪) is bad debt holding you back? ♪ the only limit is the sky ♪ ♪ it's our time ♪ ♪ you don't want to miss it (just a little bit louder) ♪ ♪ it's our time ♪ ♪ you don't want to miss it ♪ ♪ it's your moment in the spotlight ♪ all your ambitions. all in one app. low fixed rates. borrow up to $100k. no fees required. sofi. get your money right®. why choose a sleep number smart bed? can it keep me warm when i'm cold? wait. no i'm always hot. sleep number does that. now, save up to $1,000 when you purchase select sleep number smart beds and an adjus

jay powell seems dovish. what is your take away with the fed? >> good morning.he comments have to be taken in the context of cuts. he may be talking about later in the year, slower pace, but they will cut if the dater allows it. we have a central bank willing to cut and people are not worried. they said maybe no cuts at all this year. the market seems happy to tolerate that. no big changes in the dot plots. the market is looking for interest rates. switch the focus to talk about jobs data. that gives the fed a caveat to move. lower rates on the horizon. tom: how are the markets interpreting the messages from the boe, ecb, s&p? is the take that doves are in control? paul: it feels like they fired the starting gun. it is the same mentality and noise traders are hearing. at the top of the show, people betting on short-term interest rates relative to long-term. maybe we can undo the yield curve. the market has been wrong several times. a stopped clock trade will be right eventually. this is volatility sliding, credit spreads type and exuberance in equities, so every

annmarie: jay powell continue says at some point this year we will be cutting. that change to later this year? does the timeline just get pushed back? jay: i think it does. the inflation rate is trending lower. it is not coming down as much as people would like it to be but what is happening is the inflation rate continues to come down in the fed remaining on hold, the real fed funds rate is passively going higher and that is acting as a passive tightening on the overall economy. in some sense they need to be cutting rates. maybe not in may or june or july, but they need to be cutting rates later this year or you will have a passive tightening of monetary policy which could potentially slow things a lot more than people are expecting now. jonathan: appreciate your views this morning. jay bryson of wells fargo. it is part of the job if you're in that seat. you have to make a call on when the fed will cut. june feels meaningless to me. the correct answer has been later. much later than you thought. it was march and then it was may and then it was june. if you're l