for now, the pressure is not letting up. >> joumanna, excellent breakdown. know you have a busy day ahead. tune in for decision time at 12:00 bst. >>> back to the swiss national bank it raised by 25 basis points the central bank said could not rule out additional rises in the key policy rate. we are getting lines from the chairman thomas jordan the press conference is going on you see the dollar/swiss franc is flat right now after the decision the chairman said the market decline in inflation is welcome. the monetary policy is restrictive than one year ago. monetary tightening has strengthened the swiss franc which damped inflation still, underlining inflation pressure has risen further this is a concern and central bankers around the western world are watching closely we cannot rule out further tightening on monetary policy. there is a danger the inflation is above 2%. this is not a reason for refraining from rate hikes in the future we are going to hear from thomas jordan later today stay tuned for that interview. >>> now over to the u.s. a long way to go

i'm julianna tatelbaum thank you for watching the show. >> i'm joumanna bercetche. "worldwide exchange" is coming up next. ♪ (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. ah, these bills are crazy. she has no idea she's sitting on a goldmine. well she doesn't know that if she owns a life insurance policy of $100,000 or more she can sell all or part of it to coventry for cash. even a term policy. even a term policy? even a term policy! find out if you're sitting on a goldmine. call coventry direct today at the number on your screen, or visit coventrydirect.com. when we started selling my health products online our shipping process was painfully slow. then we found shipstation. now we're shipping out orders 5 times faster and we're saving a ton. go to shipstation.com /tv and get 2 months free. as a business owner, your bottom line is always top of mind. so start saving by switching to the mobile service design

i'm joumanna bercetche >> and i'm julianna tatelbaum.hese are your headlines >>> central bankers gather for the ecb forum as they deal with high inflation and rising borrowing costs. the imf says policymakers have to face up to uncomfortable truths >> we have to recognize it is taking too long for inflation to come back to target. that means central banks will remain committed to fighting inflation even if it means risking growth. >>> the ecb tells cnbc the rate hike is all but guaranteed at the meeting, but the latvian colleague says it will likely extend beyond summer >> we say inflation is still to high i think further rate hikes would be necessary also past july. we see the economy has softened. >>> and we will hear from ecb president christine lagarde at the ecb forum shortly. >>> european equities open in the green as the stoxx 600 looks to end the streak. >>> and u.s. futures point higher after the dow sees the longest losing streak since december of 2022 and investors take profit in the recent tech rally. >>> not quite breaking n

i'm joumanna bercetche >> and i'm julianna tatelbaum.hese are your headlines >>> oil prices get a lift with opec plus with the prince speaking exclusively to cnbc and defends the decisions. >> we're hedging hedging against the unknown. taking the precautionary measure. >>> the dow notches the best day since january as traders cheer a strong u.s. jobs report, but european equities are low. >>> and the imf leader tells cnbc the federal reserve can't take its foot off the pedal yet. >> we don't see a significant slowdown in lending. there is some, but not on the scale that would lead to the fed standing back. >>> and net profits for the airline industry are set to double according to the latest report secretary-general tells cnbc the post-pandemic recovery is not where they should be >> they are where they were above 2019 international markets in most areas are showing strong recovery the area that lagged is the asia pacific region >>> good morning welcome to "street signs." there is one major news development we are watching overnight. let

joumanna >> good morning, frank european markets are trading in the negative as you see behind me with the exception of the swiss index on the final trading day of the week. markets are digesting the weaker pmi data that came out this morning. flash pmi for europe and the uk. coming in lower than expectation and slowdown of activity from back in may. a bit of a warning sign as far as activity indicators are concerned. ftse 100 is a focus on back of the bank of england 50 basis point hike yesterday some home builders are beaten down down .20% for the index as a whole. this despite uk retail sales are better than expected this morning. dax is down .60% one name is siemens energy that stock is down 30% with the renewables unit. a stock we are watching. as for european fixed income 10-year gilt is 4.24 all of the action has been in the 10-year bund 13 basis points lower on the session. the rally really started to pick up speed with the french and german composite pmi numbers the eurozone pmi number weaker as well. the reaction in fixed income has been for investors to buy into the market t

i'm joumanna bercetche >> and i'm julianna tatelbaum. these are your headlines. >> european equities open higher as investors gear up for a big week of central bank action with traders betting the fed will hold >> they can take a pause on that and most people think they will. that is what the market is saying they can't say i'm done of the they don't know. they need the next set of data >>> sterling spikes at the fastest pace outside of the pandemic with a double oing of e interest rate hike we will talk to gareth davies. >>> and china's central bank cuts the rates for the first time in ten months as they look to avert sliding in the economy. >>> and apple shares close at a record high above $183 after unveiling the vision pro headset last week. the first product line since 2014 sto >>> a lot going on today we are keeping our eyes on the pci number and it is a big week of central bank action the fed is expected to hold rates steady on wednesday as inflationary pressure seease we will get more later today otherwise, we have central banks

i'm joumanna bercetche "worldwide exchange" is coming up next.eady 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. >>> it is 5:00 a.m. at cnbc global headquarters. here is the "five@5. the senate passed the debt ceiling bill we are live in washington with reaction. >>> stocks tracking for relief rally following late night vote. tech still tracking for the longest win streak in years. >>> the may jobs report before the fed next policy decision >>> a case of retail haves and have-nots. shares of mo

i'm joumanna bercetche >> and i'm arabile gumede.hese are your headlines >> european equities take a breather after the bank of canada surprises the market by resuming its rate hiking cycle with investors weary it could give the fed impetus for his own hawkish outlook. >>> u.s. treasury secretary janet yellen says a strong jobs market won't stand in the way of the price pressure >> i see bringing down inflation with a strong labor market i think the data we have seen over last year and recently shows we are on the path >>> wizz air posting a net loss, but shares gain after the forecast a return to profit in 2024 the ceo telling cnbc the industry must adapt to weather future crises. >> we are really making our business model resilient and operating more resilient i think that is a change >>> uk prime minister rishi sunak prepares to meet with president biden at the white house to partickickoff a two-dap to washington to shrug off the trade tensions between the two sides. >>> welcome to "street signs." markets are focusing on central b

i'm joumanna bercetche. >> and i'm julianna tatelbaum. these are your headlines >>> skip, pause, our hike. the fed prepares to hand out its policy decision as the latest inflation read shows prices cooling to their lowest level in nearly two years. >>> short-term gilt yields hit a high and inflation data comes in stronger than expected the bank of england governor says it's more solid than previously forecast. >> we'll have to use a policy to bring it back. then the question, of course, is how much we've got some ideas what the underlying -- i mean we still think inflation is going to come down, but it ee taking quite longer than expected. >>> the iea predicts world oil demand will grow by a new record this year, but also slow demand will slow the market rate as the energy transition gathers pace we'll speak with the market's division head toriibosoni next. and we'll speak with our colleagues at 1400 cet. >>> a very warm welcome to "street signs. we made it to fed decision day before we get on to what to expect from central bank this afte

all eyes, as ever, on the ecb meeting next thursday. >> joumanna, thank you very much joumanna bercetche live in our london newsroom. >>> time for a check on the corporate stories with silvana henao. >> thank you, frank. as joumanna mentioned, china's sixth biggest state banks cutting rates to boost spending and economic growth. china construction and bank of china are now offering 2.4% and 2.5% on three-year and 5-year term deposits. that is down 15 points from september. rep >>> reports this morning that fox news notified carl tu-- tuce carlson violated his contract after his show debuted on tuesday. >>> and now coinbase minutes with a block of 4,000 contracts of coinbase clips expiring friday hit the tape when the stock was trading over $61 a share. by noon, in new york, coinbase shares had fallen 12% and the options traded for as much as $1 that is a gain of almost 450%. >> very interesting move there i think a lot of people are watching and we'll talk about that today coinbase sarshares down this morning. z silvana, thank you. >>> the nasdaq hit the hardest in yesterday's session th

i'm joumanna bercetche >> and i'm julianna tatelbaum.hese are your headlines >> the federal reserve prepares to pause in a bid to assess the ten consecutive rate hikes our colleagues will speak to brian moynahan about the state of the u.s. economy in the exclusive interview today. >>> and ubs completes the takeover of credit suisse and reveals the director nominations. >>> crude prices slide amid growing demand while goldman sachs cuts the outlook and he tells the finance manager he is operating in a tough environment. >> this is uncertainties and sentiments i believe within the next month or month after, i don't want to bet and gamble. >>> and novartis shares snap after the deal to buy up a company for $3.5 billion to expand the portfolio for kidney diseases >>> good morning welcome to "street signs." we start off by looking at markets and how they are trieding we picked up on a -- how they are trading. we picked up on the u.s. board with concerns of being in a bullish market there is debate if this has legs given the leadership is con

i'm julianna tatelbaum. >> i'm joumanna bercetche.worldwide exchange" is coming up next. >>> it is 5:00 a.m. at cnbc global headquarters. here are the "five@5." apple lifts the curtain on the $3,500 headset and most ambitious hardware since the ipad wall street is not sold yet. >>> crypto crush stakeholders deal with the fallout of the s.e.c. crackdown on binance the big question who's next >>> growing odds the fed will pause next week, but stopping other central banks?

. ♪ >>> welcome back our joumanna bercetche is standing by in the newsroom with your global briefingmorning >> things got off to a soggy start tfrmt hang seng pulling back significantly the japanese bucked the trend. on the inflation report which came through a few hours ago shows inflation continues to run hotter than expected, so creating a very difficult backdrop for the bank of england which meets tomorrow now traders are saying there's nearly a 50% chance that the bang of england goes for a 50 basis point or half a percent higher a lot of focus on the uk inflation picture, and as a result from a sector perspective, we're seeing significant lonss for the uk homebuilders a lot of concerns on what that will mean for the european markets. >>> let's stick with europe and turn our attention to brussels today amazon ceo andy jassy will discuss the future of how his company does business in the region under the still new digital markets act. jassy, however, is not the only big tech ceo getting face time with the watchdog. on monday mark zuckerberg sat down with vet gestager and her on t

our joumanna bercetche is standing by in the london newsroom there with the latest good morning, joumanna. >> good morning, dom how lovely to see a shot of the cathedral this morning it seems the theme of good news in the u.s. is also good news for europe because every single one of these indices is trading in the positive. we've got the ftse 100, a lot of pressure on the bink of england. curious to hear what the governor is going to say today clearly the pressure is on them with the inflation in the country. the indices is up about half a percent. again, a lot of focus of the commentary coming out. namely hawkishness a more positive day. over in asia, however, the action has been somewhat muted you can see the hang seng is only up about a tenn't of a percent. shanghai up. a couple of data to watch out for there. the profits to watch out for with the major chinese companies on a big decline of about 18%. there's this "wall street journal" article overnight indicating the biden administration is considering restrictions for some key ai technologies that has impacted sentiments in asia as w

i'm joumanna bercetche. >> and i'm julianna tatelbaum.hese are your headlines >> not backing down. the world's top central bankers talk tough on inflation and vow to keep rates elevated for the foreseeable future jay powell says restrictive policies have not been restrictive for long enough. >> you look at the data over the last quarter, what you see his stronger than expected growth and higher inflation that tells us, although policy is restrictive, it may not be restrictive enough and not been restrictive for long enough. >>> european equities trade along the flat line as investors weigh divergence inflation trends as germany jumps. christine lagarde tells cnbc more hikes are on the table. >> we know we have ground to cover. if our baseline stands, then we know we will likely hike again in july. >>> jumping on the trend h&m jumps to the top of the stoxx 600 and says hot temperatures help sales of the customer collection. >>> and shares of the debt supermarket chain casino plunge on track for the worse day since 1987 and told it has a da

i'm joumanna bercetche >> i'm julianna tatelbaum and these are your headlines >>russian mercernariesull back from the city and secretary of state blinken says this results in cracks of putin's power. >>> and investors engage the aftermath of the russia's first insurrection in two decades. >>> and the summer davos will welcome foreign investment pto fuel foreign growth. >> this is becoming a lost decade with low growth moving forward. 2.8% global growth is not what we need. >>> a landslide victory for the greece party to govern alone >>> good morning let's go over some of the stunning developments from the weekend. mer mercenary soldiers have withdrawn from the city after a short mutiny one of the biggest issues over putin's power. wagner vfighters are believed to return to the base the commander will move to belarus, but his current whereabouts are unknown. this weekend's revolt started friday night when wagner's prigozhin carried out a missile attack on his soldiers in response, the fsb said prigozhin was starting an armed rebel rebe rebellion. he was speaking to the deputy defense

futures i'm joumanna bercetche >> i'm julianna tatelbaum. thank you for watching "street signs.wilke "worldwide exchange" continues after this shipstation saves us so much time it makes it really easy and seamless pick an order print everything you need slap the label on ito the box and it's ready to go our cost for shipping, were cut in half just like that go to shipstation/tv and get 2 months free when we started selling my health products online our shipping process was painfully slow. then we found shipstation. now we're shipping out orders 5 times faster and we're saving a ton. go to shipstation.com /tv and get 2 months free. the subway series is elevating your favorite subs. why mess with the sweet onion teriyaki, chuck? man, this aint messin', it's perfectin'! with marinated chicken and double cheese. sweet and savory... ...kinda like you and me, chuck. bye, peyton. try the refreshed favorites at subway today. >>> it is 5:00 a.m. at cnbc global headquarters. here is the "five@5. we begin with stocks kicking off a new trading month in the green after the dow and nasdaq did

i'm joumanna bercetche and these are your headlines u.s.ecretary of state blinken will meet with china's xi jinping as part of the rare trip to beijing and the top diplomat warns relations has hit a low point. >>> goldman sachs is lowering the full-year gdp forecast despite the boost to stimulus. >>> and european equities kickoff the week to the down side as they unwind last weeks gains ahead of another central bank week. >>> the paris air show returns with airbus and boeing battling it out for new orders and mobility businesses like stellantis is looking to expand. >> looking for more energy and power and less weight and less cost all of this is going to be given to the pay load of the aircraft. we see that what we are doing can benefit the aircraft industry >>> good morning happy monday the u.s. is out for holiday today. we are focusing on geopolitics namely what is happening in china. u.s. secretary of state antony blinken will meet china president xi jinping this hour relations with the u.s. are at a low point with the root cause is ame

i'm joumanna bercetche in london and chkaren tso joins me from paris.hese are your headlines rates are on hold, but signals two further hikes by the end of the year with chairman powell making a decision. >> it didn't come up in the meeting. the focus was what to do today one, decision hasn't been made about july, but i expect it will be a live meeting. >>> china's yuan hits a six-month low after a key policy rate and scoring the economic challenges facing beijing. >>> and natural soda scraps plans to list in london and pulling the 6 billion pound ipo to the exchange amid extreme investor caution >>> and french president emmanuel macron pulls for greater support for the a.i. sector telling cnbc in paris at the summit that countries must come together to draft new technology rules >> i think we need a regulation and all of the players do agree with that. i think we need a global regulation >>> good morning welcome to "street signs." it has been a busy week as far as central bank decisions are concerned. with the fed, the event yesterday, and ecb today an

frank. >> joumanna, thank you very much joumanna bercetche in the london newsroom. >>> the fed is not the only game in town with the policy decisions this week. we are bracing for another big call in three hours. the european central bank is not expected to follow jay powell's lead annette weisbach is joining me from frankfurt what do we expect? >> reporter: that is what we expect 25 basis point rate hike and some language that we are closer to the end of the rate hiking cycle. given what the fed has said and the outlook with the potential of raising rates after the summer break, this could happen in the euro area inflation is still high at 6.1% for the month of may far too high when it comes to the target of the ecb which is close to 2% or at least 2% having said that, also the ecb has one mandate. that is inflation. they are very happy to sacrifice the economic development in the euro area for reaching that goal having said that, euro area is f in a technical recession the outlook is not looking great. the services sector is suffering from the high inflation rates. that could get mu

i'm joumanna bercetche and these are your headlines european equities open higher on the final tradingay of the first half as french inflation falls to the lowest level in 16 months and investors brace for the eurozone print at 11:00 cet. >>> and the dutch crackdown on the exports answering concerns from the u.s. to china and pledging to comply >>> adidas and puma track nike shares lower after they post the first earnings miss in years and flags the first quarter revenue guidance. >>> nasdaq points higher in the pre pre-market as it looks to notch the best wave since 1993 as it looks to ride a.i. >>> good morning welcome again to "street signs." it has been a busy morning with data and macroeconomics cater caters -- indicators and company news we had a flurry of data and we are looking ahead to two crucial data points from the eurozone and u.s. french inflation has fallen to the lowest level since march 2022 june cpi at 4.5% on the year that is down from the 5.3% in may. showing the disinflationary trend. and the initial figure to post zers 0.2% for the year. the eurozone inflation pri

i'm joumanna bercetche >> and i'm julianna tatelbaum.hese are your headlines >> and olof scholz looks to host li in berlin we will have the latest. >>> and the bearish chorus as the ecb does little to do anything over the concerns on the economy. >>> and cracking the 5% mark as the investors look at the ecb rate decision. >>> and airbus and indian budget carrier sign off on the biggest jet order in history sealing a deal with the value up to $50 billion ge's ceo says when it comes to new aircraft sales, the sky is the limit. >> demand is not any stronger. we could not imagine this two years ago. it could not be more bullish at the moment >>> good morning welcome again to "street signs." yesterday, we were talking about the geopolitical situation and meeting taking place with the secretary of state blinken and his counterpart. right now, we are looking at live images of chancellor scholz taking place with li this is the first bilateral meeting since 2018 since that period, we had the pandemic one reason the two sides haven't met. we have

i'm joumanna bercetche and these are your friday headlines.uropean equity markets on pace to end on a downbeat note. >>> siemens unit shares sink after the sharp blow to the forecast the cfo insists the balance sheet is still strong and 1 billion euro in costs will be spread over the next few years. >>> gfk reaching settlement over the heart burn drug causes cancer sending it to the stop of the stoxx 600. >>> and uk retail sales surprise in may rising 0.3% on the month while the bank of england delivers a hike and the bank of england governor andrew bailey spoke out. >> we will do what is necessary to bring inflation down to target >>> good morning welcome to "street signs." we have a jam packed show for you. i want to bring you latest of the flash pmi numbers. the composite number has come in at 50.3. this is disappointing relative to the forecast of 50.5. it shows deceleration from may the may composite eurozone number at 50.8 as for the split with manufacturing and services, manufacturing june number has come in at 43.6. again, disappointin

i'm joumanna bercetche. >> i'm julianna tatelbaum. these are your headlines. >>> ecb dials down with chief economist phillip layne and governor lynch leaving the door open for the summer. >> it's going to be a mix of all of those there's no shorthand, no shortcuts. >> the core has been quite stable it's around 5% on a yearly basis. we need to see core going down before considering. >>> european markets jump in early trade where on wall street stronger confidence lays investor fears of economic slowdown. >>> u.s. futures point toward a muted open on wall street with attention turning to the fed's bank stress test results first it was rocked by a series of regional collapses earlier this year. >>> and u.s. reportedly considers further curbs to china, specifically on ai, amid growing concerns about the technology >>> a warm welcome to "street signs," everybody. we're keeping our eyes on sentra beautiful portugal layne spoke to aany ta on central bank taking place in portugal and said there are too many points but said the central bank is

, joumanna. >> good morning.lot of green on the board for the final trading day of the week. for the week as a whole, these will end in negative territory today's sentiment is positive. broad gains and the indices. ftse 100 up 1% bounce in minors dax is up 1.1% in germany. we are keeping a close eye on the inflation data from the eurozone this week surprising on the downside that was a positive development for the euro economies cac 40 in france up 1.3% a bounce in luxury switching to yasasia the nikkei is up 1 p.3%. it is on a 32-year high. this is a jump on the electronics and chip makers and one name with softbank hang seng with a strong session overnight. 4 points higher and the shanghai composite ending positive territory as well >> speaking of softbank, that is tr trading higher >> yes the a.i. chip frenzy is pushing that higher. the japanese giant is looking at the portfolio plunge and now an uptick of 17% this week alone. don't forget softbank is ipo'ing the chip arm this week >> thank you, joumanna berce

[theme music] >>> good morning and welcome to street signs i'm joumanna bercetche. >> and i'm julianna tatelbaum. these are your headlines this morning. >> growth will accelerate only slightly next year as rate hikes continue to grow on the economy. >>> and the higher rates and tighter credit conditions take a toll the group ice chief economist tells cnbc the global economy remains on precarious footing. >> the glass is half full. the global economy has been resilient, but at is tame time you look at the big picture how weak the growth is, we should be concerned. >>> chinese exports sink in may, missing the forecast by a wide mar jij. it's over concerns of a weak economy at home. >>> surge at the top of the stoxx 600 after the first quarter profits jump despite rising cost pressures. >>> good morning, everybody, and a warm welcome to "street signs. we'll kick off the show with fresh forecasts. the oecd has slightly raised it growth the organization said it sees inflation falling to only 4.7% next year well above central bank targets, driving its forecast that the feds will cut rates mo

. >>> let's get a check on the action in asia and europe with our joumanna bercetche joumanna. >> goodorning, frank we've got the stoxx 600 up about 0.4% we obviously had that positive handover from u.s. markets yesterday. don't forget that europeans are also eyeing their very own central bank with the ecb meeting coming up tomorrow in terms of the split, we're seeing strong leadership from autos which means the france contact is looking good and the ftse 100 as well even though we're above that key level, the data has been coming in very, very strong on the inflation side we've seen a big move that's having an impact on any interest rate sectors switching over to asia, the picture was somewhat more mixed. we had the shanghai composite dip, trading slightly in the negative expectations are building that the pcob may also introduce a more medium term interest rate cut. that's something to watch out for after their short term repo cut introduced yesterday, but the nikkei continues to go strength to strength, still at a three-decade high. one thing in particular that continues to stand ou

cnbc's joumanna bercetche live from london, thank you as always. you. >>> still ahead here on "way too early" president biden reacts on the revolt and its potential impact on russian president vladimir putin. hear the president's latest comments when "way too early" comes right back. est comments when "way too early" comes right back and looking to buy life insurance on a fixed budget, remember the three ps. what are the three ps? the three ps of life insurance on a fixed budget are price, price, and price. a price you can afford, a price that can't increase, and a price that fits your budget. i'm 54, what's my price? you can get coverage for $9.95 a month. i'm 65 and take medications. what's my price? also $9.95 a month. i just turned 80, what's my price? $9.95 a month for you too. if you're age 50 to 85, call now about the #1 most popular whole life insurance plan available through the colonial penn program. it has an affordable rate starting at $9.95 a month. no medical exam, no health questions. your acceptance is guaranteed. and this plan has

i'm joumanna bercetche, and these are your headlines. >>> uk consumer price inflation comes in hot at 8.7% in may, bucking expectations for a dip, while the core figure surges uk rates are now at 45% chance of a half a percent move by the bank of europe tomorrow. >>> u.s. futures hold as we await jerome powell's testimony on the first day at capitol hill. >>> rival fedex slashes its workouts for the year, sending jitters throughout the sector. the ceo says cutting reliance on china might prove difficult. >> and european leaders pledge to support ukraine for as long as it takes, this as the uk prime minister ruishi sunak prepares to announce a major new impact of support here at the ukraine conference, we're going to speak to the european president exclusively in around 35 minutes' time. >>> well, good morning again there's one thing and one thing only that investors are focused on only and that's the uk inflation data the cpi number came at 8.7% on the year and made defying expectations for a 30 basis core dip. the monthly jump coming in at double the forecast, heaping more pressure o

let's get a look at the european trade with joumanna bercetche with the global briefing >> frank, a bitsk-off with the global markets today. let's bring the top stories we are focused on overnight s&p global has cut china forecast to 5.2% that is down from 5.5% it is the first such move for china from a global credit rating agency this year. it follows similar cuts from similar banks as china's post-pandemic recovery is u uneven wespoke about goldman sachs last week. shares in element 25 soared after the mineral company is providing manganese sulphate to gm >>> elsewhere, nothing to do with russia, but greece's conservative democracy party won the parliamentary election this weekend. beating its rival the leftist. the incumbent mitsotakis won four years in office after 45.5% of the vote. greece has been the success story of the eurozone after the last ten years and emerging from the bailout in a stronger position than before >> joumanna bercetche with the global briefing. thank you very much. >>> sticking with stocks and one sector outside of tech with a huge run-up in weeks is the crui

definitely the nikkei kcontinue to be on investors minds >>> joumanna, thank you very much live in the london thus room b -- london news room back here at home, will the fed pause the rate hike? one factor is a data driven decision the latest with the may cpi out before the opening bell this morning and expectations for a 4% gain year over year which is down from the previous reading and well off the 2% target for more, let's bring in jeremy schwartz from wisdomtree >> good to be with you >> we are looking at the fed watch tool in the office the question is will it be a pause that leaves the door open for more hikes down the line do you believe the cpi report being a deciding factor in the fed decision >> they telegraphed they are not doing anything at the meeting of the the question is the july meeting. some of the economics team has said the biggest data point this week is the fed or inflation, but jobless claims on thursday you saw a big tick up. is this the slowdown everybody has been waiting on? our view is they should stop we think it is a good chance they should tomorrow althoug

. >> joumanna, i know we are watching the financial sector. ubs out with an update on the credit suisse takeover >> yes it will complete the takeover as soon as june 12th. one ubs share for every 12 shares they hold ubs is delaying the release of the second quarter results they are supposed to come out je july 25th. they may wait until august to coincide with the credit suisse completion. >>> frank. >> joumanna, thank you >>> turning back to wall street. 1.5% jump in the s&p on friday puts it on the verge of exiting the longest bear market run since 1948 that's according to dow jones industrial average market data the position within the market showing how fragile this year's the rally may be data from the cftc shows hedge hundred funds and other investors bet big on the s&p will fall it is the most bearish position for hedge funds and other investors since back in 2007 while the s&p is up 11.5% this year, it would be negative without the boost by big tech companies leaving the markets vulnerable to a pull back with shares of one or two compan

. >>> time now for business, and for that let's welcome back cnbc's joumanna bercetche who joins us liveet opening low, seems to be. and wall street heading for what's been a pretty losing week, so what's driving these declines? >> so after a bit of a rebound in the s&p and nasdaq what we are seeing u.s. futures set to open up weaker again today. the dow is tracking 1% losses for the week. the nasdaq 0.4%. this is actually the worst week for stocks since march. we have some areas of positivity mainly around the discount stores, dollar general, dollar tree both up around 5%, but we are seeing a pull back in some of those a.i. chip makers, the likes of amd, intel down 8 to 10%. but the main macro event for the week has been the fed chair jerome powell's testimony to congress where he's reiterated another rate hike will most likely have to happen this year but they will be proceeding with caution. >> so speaking of rate hikes, the bank of england raised its key interest rate up half a percentage point, the big headline yesterday. give us an update there on the united kingdom emphasis fight

. >>> time now for business, and for that let's bring in cnbc's joumanna bercetche who joins us livefutures were flat after the s&p 500 notch its highest level this whole year. how are things starting off today? >> yeah, so we saw a strong session for wall street yesterday. all of the majors ending up in the green. the s&p as you mentioned now closing at its highest level for 2023. just to give you some context, it's up 20% since the lows we got to last october. if you want to take a look back what happened this year, essentially all the money has gone into tech stock. according to barclays it's just seven tech stocks which have driven all of s&p 500 positive returns for this career. if would move those stocks the s&p 500 would be negative just to give you context what's going on. debt ceiling discussions has seen positive reaction from stock markets. next week we'll get the fed. the market is expecting a 25% chance of another interest rate hike, and we'll also get inflation data, so we'll be watching out for that as well. >> wall street's top regulator is suing coinbase which is ame

. >>> time now for business, and for that let's bring in cnbc's joumanna bercetche who joins us lives from the united states. inflation another sign starting to cool, and of course all eyes are on the fed this afternoon as we get a decision on interest rates. we've also got new surprise index data due out this morning. big, big day. give us an overview. >> yeah. yeah, it's all happening, john. as you mentioned that headline cpi inflation number came in 4% year on year, which is in line with expectations and puts inflation at levels not seen since march 2021. for today as well for anyone watching these inflation prints, cpi is one to watch. it is showing this inflationary trend, but we're going to be keeping a close eye on services inflation which is proving to be quite sticky. but the main one, of course, saying right now interest markets are leaning toward no hike out of the fed at this meeting but potentially a hike out of them in july. so it'll be interesting to see whether any language emerges out of this meeting to that effect especially with their economic projections. in terms