i have my exclusive interview with jeffrey gundlach coming up this hour.s as well as the broader economy. don't miss the interview coming up. amick is are feeling the impact of skyhigh inflation everywhere but especially at the grocery store. food inflation up better than 4%. stew leonard is here to discuss the rise in prices. stay with us. ♪. maria: this week on warnings with maria. tomorrow our panel of experts bring up the morning with the biggest buzz stories and friday were all about jobs, the brand-new unemployment rate revealed here live all right here on warnings with maria. you can't buy great conversations or moments that matter, but you can invest in them. at t. rowe price our strategic investing approach can help you build the future you imagine. t. rowe price, invest with confidence. the first time you connected your godaddy website and your store was also the first time you realized... well, we can do anything. cheesecake cookies? the chookie! manage all your sales from one place with a partner that always puts you first. (we did it) start to

maria: so some dire predictions from jeffrey gundlach. your thoughts, mark?f what he said. as far as our country goes, i feel we're in a precarious situation where we've got over $32 trillion in debt, 50% of that debt is coming due within the next three years. it's going to have to be refinanced at higher rates. all we have known as a country for the last 40 years has been whenever the debt comes due, we're going to pay less because interest rates are going down. if you look at a 10 year treasury today, yielding 4.7-ish percent. eight years ago it was yield 2-g .3%. so in -- 2.3%. so in two years that comes due, you're not paying 2.3, now you're paying 4.7, 5.5, depending where treasury yields go and that is going to eat into this country's ability to continue to provide a fiscal tail wind. maria: it's a game changer. that's why i mentioned what bob nardelli told us when he was on a week ago that some of the companies he's invested in have gone from interest payments of $2 million a year of $14 million a year. that could put a company out of business. that's

more of my exclusive interview with bond investor jeffrey gundlach later on to the program.ou were watching "mornings with maria" live on fox business. stay with us. ♪ >> tech: cracked windshield on your new car? you don't have to take it to the dealer. bring it to safelite. we do more replacements and recalibrations than anyone else. >> customer: thank you so much. >> tech vo: schedule now. >> singers: ♪ safelite repair, safelite replace ♪ ♪ i have type 2 diabetes, but i manage it well. ♪ ♪ jardiance ♪ ♪ it's a little pill with a big story to tell. ♪ ♪ i take once-daily jardiance, ♪ ♪ at each day's staaart. ♪ ♪ as time went on it was easy to seee. ♪ ♪ i'm lowering my a1c. ♪ jardiance works 24/7 in your body to flush out some sugar! and for adults with type 2 diabetes and known heart disease, jardiance can lower the risk of cardiovascular death, too. jardiance may cause serious side effects including ketoacidosis that may be fatal, dehydration, that can lead to sudden worsening of kidney function, and genital yeast or urinary tract infections. a rare, life-threatening bacter

i spoke with jeffrey gundlach and he said things are slowing down he's expected to recession in the firstof the year. here's what he is expecting on jobs. jeffrey gundlach. >> jobs have been pretty abundant in the unemployment rate is low but it is not falling any longer. if it goes up even a few tenths of a percentage point it would be in a context historically that has never avoided a recession. when unemployment rate goes up from the low by only one half of 1% or more there's been a recession every civil time. maria: your reaction. >> i'm not buying the recession talk, i get up at the strong number that we saw when it comes to the labor market i think it's going to continue to stay strong we have a labor shortage in this country and i think you have immaculate disinflation, the shelter cost, that is a lag in the cpi number and that will get factored in lower because we know real rents are down from the high and you will see those numbers keeping moderating over the next quarters. meanwhile let's face it wages are not going down to get us a relatively strong. you have accommodation in t

doubleline ceo jeffrey gundlach here on impact on markets economy policies investors focused on spikingrates we're talking with one of the leading investors in bonds, sell-off if stocks this week as well back to bad policy my exclusive interview on the other side of this break. . . ♪ . it starts with a grill. but it becomes so much more. an extension of your home. not just a weekend retreat, but an everyday getaway right in your backyard. newage makes it possible with beautiful all-weather cabinetry, grills and appliances that transform your backyard into a complete outdoor kitchen. visit newageproducts.com to book a free design consultation and create the outdoor living space you've always wanted. ♪ (upbeat music) ♪ ( ♪ ) woah. ( ♪ ) ( ♪ ) ( ♪ ) ( ♪ ) constant contact delivers the marketing tools your small business needs to keep up, excel, and grow. constant contact. helping the small stand tall. >>> maria: welcome back, just hours after kevin mccarthy was you have ousted former house he speaker nancy pelosi was ordered to immediately vacate her capitol hide away office, cheryl casone

immediately following that and the news conference from the chair jay powell, jeffrey gundlach from doublelinereaction to what happened in that room and how the fed chair himself described their move and what they see moving forward let's get the results from our question of the day. all of that might factor into how you see this where will the s&p 500 finish the year most of you saying between 4200 and 4400 it's pretty close, though. it did get a fair amount of votes above 4400 up income, your earnings rundown in amd and o.t we h weave stacy rascon, that and much more when we take you inside "the market zone. together, we built something truly beautiful. it takes years of dedication to get to this milestone. the new york stock exchange is a symbol of what america is all about the potential of an american dream. it is day one. a lot of work has happened to lead to this historic moment. the only way you can move a society forward is a true expression of freedom. (♪♪) what do you see on the horizon? is a true expression uncertainty? or opportunity. whatever you see, at pgim we can help you rise

. >> lots of folks, joe, watching the yield curve including jeffrey gundlach. should put everyone on recession watch, not just a recession warning not just recession watch. if the unemployment rate ticks up it will be an alert. do you want to opine on that as we are transfixed by the bond market? >> the exact place within the market. in the last two weeks the spread between a two and ten year has moved from negative 80 basis points to negative 30 basis points. it is very clear to me we are at the early stages of a governmental balance sheet. we might be in that recession right now. in are cost conscious. before the moving average is at a 25-year low. the impact of rising rates is affecting it. >> rapid deceleration, the fifth consecutive month of decel in credit card spend, to your point. >> it's affecting areas of the market in industries within the market that we thought were unable to be penetrated. think about the support the renewable energy trade got from the inflation reduction act. what's happening right now in the renewable energy trade? it is literall

hold rates where they are at the labor market and inflation continue to cool but i spoke with jeffrey gundlachd he said if the economy goes into recession we could see a significant cut by the federal reserve next year. watch this. >> does the fed cut rates next year. >> i think they will i think most of the forecast for what will happen next year are implausible there is a lot of forecast that they will cut 50, 75. that is a no man's land number for me, i don't think they cut all at the economy does not slow down and if an appointment does not go up. if inflation gets afterburners because oil backup at $90 and things like that they might not cut at all. if they cut it's going to have to be an economic shock which appear recession and maybe that would lead to a cut of 100 basis points as the first cut that could happen. that is more plausible. maria: that was it a credible prediction that the fed could cut 100 basis points, what do you think about cut in rates next year that was the driver of the market rally all year this year. >> i think jeff is right if the first cut is 100 basis points tha

your take later, charles whether or not there is an opportunity for fixed income we spoke with jeffrey gundlachhe said opportunities there stopping stock market to sell off has to do with slowing economy we know when you look at polls that is most important to voters. lee: yeah, you have people in office with trying to figure out what to do with migrant crisis want more visas for folks illegally in the country others, meanwhile, people in u.s. looking for work. maria: a cheryl a tease what is most important here i know you are going to have numbers. cheryl: the earnings year-over-year, month-over-month very important to me that also manufacturing number, i said earlier in the program i am a little concerned that is going to be a weak number a negative. read. because, tell us in general the economy slowing down or revving up implications. >> how much a market higher rates in september for jobs numbers? >> not so much in the month of september but look for these oil prices, that already have been high, to filter through to the rest of the economy truckers get to reset surcharge fuel surcharge eve

we heard from the current bond king, via x, jeffrey gundlach. the u.s. treasury yield curve is deinverting very rapidly. 108 basis points, now 135 basis points, should put everyone on recession warning, not just recession watch. he finishes off with buckle up. what about the current bond king? agree with his assessment? >> i think that's an interesting insight as well. i think the high rates are starting to weigh on economic growth. we're seeing a big slowdown in terms of the momentum on the economy. there are multiple indicators of the atlanta fed numbers are still quite high, the new york fed numbers are lower. you have powerful recession indicators like the inverted yield curve. momentum is slowing down on the economy. i'm not expecting recession anytime soon. the job gains have been quite strong. historically you had one to two quarters of slowing economic growth before going into recession. the last two quarters, of course have been reasonably strong. i think the recession may still be a ways out there in the future. the economy is slowing for sure.

forecasts from bill gross and jeffrey gundlach we could be headed to a 5% yield on the benchmark ten-yearght now at 4.9%. inching closer to 5%. up a percent during the year. this is important because the long bond, the 30-year is seen as investor confidence and expectations. that's a look at the stocks to watch and premarket movers. "squawk box" will be right back. >>> all right, everybody, the latest data on mortgage applications are out. what does it look like? >> i'm going to sound like a broken record, but mortgage rates keep rising, so mortgage demand just keeps falling. total mortgage application volume fell an unusually large 6% last week compared with the previous week. this as the average rate on the 30-year fixed for conforming loans with 20% down payments rose to 7.53% from 7.41%. that was the average for last week. but another daily survey had the 30-year at 7.72% as of yesterday. applications to refinance a home loan dropped 7% for the week and were 11% lower than the same week one year ago. refis made up less than one-third of mortgage demand two years ago when rates were se