katie greifeld is still in the house with us and our across asset reporter. been looking at notes leading up to this about probabilities of whether this deal will get done. katie: it has been interesting to watch the wall street community talk about this deal. dan ives put out a note yesterday saying that there is a 60% chance that this deal gets done. that was yesterday. following some washington post reporting. they also suggested there could be a 35% chance that mosque walks away from the deal altogether, which has worn out now. the bots question has been a big question regarding this deal. there's also the share price to consider. when muska made this offer, it was at $54.20 a deal. that had been floated in the analyst community that may be the price was too lofty, maybe they will negotiate it down more. twitter shares trading at around $34.54. that premium between the two had grown, and obviously growing now. now the deal is terminated. caroline: i want to ask you about the tesla market reaction, one you pointed out on twitter itself, ironically. using t

let's bring in michael mckee and katie greifeld for their views as we lead up to that fed decision. mike let's start with you. 75 basis points seems to be baked in at this point but is there a risk that the markets are underestimating the possibility of 100 basis points from the fed and take us through where that leaves us toward the end of the year? michael: i don't think they are underestimating because most fed officials who spoke before the meeting and after that cpi report came out that got the talk of 100 basis points going, they all said 75 and there has been no surprise newspaper article today that suggests maybe they are rethinking that. there are also some indicators out recently in the philly fed and the new york survey that suggests some inflation pressures have started to fall, and we have seen the drop in gasoline prices in the united states. 75 basis points and then jay powell comes out and says we aren't sure what we are going to do in september. it is going to depend on the data. we will watch that closely. if the trends in inflation continue to drop, than the fed i

let's get more from kathleen hays and cross asset reporter katie greifeld. give us more details to those cpi numbers. what was interesting to you? kathleen: let's start with headline cpi. it was 8.6% year-over-year in may. it just did not come a little higher than expected at 8.8%. it came in at 9.1% year-over-year. you can say what is a couple of percentage points, but look at what a big move that is in a single month. the core cpi which was at 5.7%, people thought it would stay or get a little weaker, it is back up to 5.9%. that takes out food and energy prices. even without those volatile prices, inflation pressures are still there. on a monthly basis, 1.1% in may, 1.3% in june, and that is the highest monthly gain since 1981. that is when paul volcker was hiking rates hard because inflation was so hard. even the core cpi, the monthly basis going up. three components i think are most in focus, because you look at energy, you look at food prices, you look at rents, you look at mortgage payments and how they translate into an equivalent of rent, and then yo

katie: and i'm katie greifeld. caroline: worsening global growth. we have got you covered.

here is bloomberg markets reporter katie greifeld. katie: happy friday.was a bizarre friday in the market. this chart shows you why. you had bonds in a huge rally, 10-year yields dropping 13 basis points. cash bonds closed early ahead of the long weekend and stocks took off. the s&p 500 finishing over 1% higher, nasdaq 100 up 17%, but stocks, the philadelphia semiconductor index down almost 4%. the first half of the year was bad for tech stocks and the nasdaq 100, but even worse for the chip industry. look at this next board, because it was bad all around, really. hardware and software falling more than 20%. look at semi conductors, down close to 40%. a brutal first half of the year for the chip sector. and today come the pain continued, micron warning demand is cooling perhaps for smartphones and computers. that weighing on micron, shares finished almost percent lower. qualcomm bragged down as a result, even more than 3%. it will be interesting, ed, i am confused as to why we saw such a big move when you look at alphabet, and meta-. finishing on a sloppy

katie greifeld joins us now. the fed minutes sounded pretty hawkish. why the rally? katie: good question. there was a lot of volatility today. the nasdaq 100 managed to string together a third straight day of gains. it took off about half an hour after somewhat hawkish fed minutes came out, and it was really tech leading the way. the s&p 500 closed at higher, but the tech sector closed 0.9% higher. that came even as we saw anna norma's jump into your treasury yields, up 18 basis points on the day. usually, that is bad news for tech. consumer discretionary funds took a hit as tesla, starbucks, and the like fell. bitcoin still sticking around that $20,000 level. or producer crunched the numbers. bitcoin tends to move in $10,000 increments. it is stuck around $20,000. where the next $10,000 goes, it remains to be seen. caroline: we thank you so much for a great roundup. meanwhile, let's talk about the u.s. supreme court ruling to end federal protection for abortions. it happened last month. many people wanted to try to find a way to help. some posts on airbnb offered to