nomura senior economist calls for the fed to raise rates by a full percentage point. he will make the case for that as the divide grows over what the fed should do tomorrow and then we're going to hear from, yes, power player jay leno he is with us live from his garage he met up with none other than elon musk, someone he calls the greatest innovator of all time he'll tell us what they discussed about the future of cars and, seema, space travel. >> looking forward to that, tyler. less than two hours left in trade and stocks are near the lows of the session ahead of tomorrow's key fed decision. the dow is down 524 points about 1.7% s&p 500 lower by a similar amount and the nasdaq down about 1.6% bucking the trend is shares of humana, which is hitting an all-time high right now. the stock getting upgraded today by morgan stanley to overweight, citing an improved competitive position that will drive earnings growth. stock up just about fractionally at this hour in prepared testimony the ceo of wells fargo plans to tell congress that the bank is at risk for setbacks as it

then 50 in december another 25 in february would be, the peak at 4.75, for the upper limit in july nomuraided to forecast a recession for u.s. starting q4 through to q4 next year five quarters negative growth not like the pandemic not a very extreme deep downturn but going to be a long drawn-out regulation, next year usgdp we have minus 1.1%. >> wow, i was struck by your expectations for the economy. i know, you were really first among first to put the details down, global central banks are also dealing with their own inflation, they are also raising interest rates. taking a lead from federal reserve, this week. what do you think about the global story this morning we've got news that the uk has released a new tax cut package to, try is to stimulate growth there but has caused dislocation, in the stock market. are you worried about this being global? >> i think it definitely is global, maria. it is synchronous if you look at how the central banks are raising rates right now i think the numbers over 09 central banks in the world raising rates most countries cost-of-living crisis with what

but economists at nomura released a note on friday saying that expectations that things might ease after that are optimistic and they expect that covered curves could remain in place until the middle of march. south korean authorities have raised the typhoon to lead to the highest level is strongest tropical storm of the year. best down on the region typhoon hannibal is due to make landfall in the port city of booth son. later on monday, it's already pounded. judge, you island where flights have been counseled, he nominal is also wrecking havoc in japan's me, yackel islands, and sony expected to intensify as it moves over the will. moses of the east china and asia, former prime minister, nat geo browser, has applied for a royal pardon, days after he was sent to jail, he serving a 12 year prison sentence for corruption in a case a link to a multi $1000000000.00 scandal. it state investment fund, one m d b a full pot and would allow him to return to politics. now 10 people have been killed at least 15 injured in a series of stabbings in canada. the attacks happened in multiple locations in

but economists at nomura released a note on friday saying that expectations that things might ease after that are optimistic. and they expect that covert curves could remain in place until the middle of march. now, authorities in south korea have raised their typhoon alert the highest level as the strongest tropical storm of the year, bears down on the region typhoon him all his expected to make landfall in the port city of boost than later on monday. it's already had j ju island, where flights were canceled. the storm is also affecting japan's mia co islands and is expected to intensifies that moves over the warm waters of the east china sea. malaysia's former prime minister, nat geo browser, has applied for royal pardon just days after he was sent to jail. he is serving a 12 year prison sentence for corruption and a case linked to a multi $1000000000.00 scandal at the state investment fund. one, n d b, a full pardon would allow him to return to politics shall anchors, foreign minister has defended authorities use of force against protesters in july and august. ali sabri says officers w

but economists ad nomura released a note on friday saying that expectations that things might ease after that are optimistic. and they expect that covert curbs could remain in place until the middle of march. and the 7 people have been killed in an earthquake that has hit se in china. the china struck just outside the city, a can gain local media, putting a number of towns, incision, one province had been seriously damaged by lance lights to the u. s. on people in jackson, mississippi, facing an unprecedented water crisis. more than $160000.00 residents have run out of safe drinking water. the government is distributing bottle water, but there's not enough to supply the anti city. pension monahan has more cars lining up around the block all to get the most basic of human necessities. for nearly a week, the people at jackson, mississippi have been struggling with a serious water shortage. the national guard are providing relief. some are happy for the help. others are growing in patient. i'm not able to cook, like i want to cooks not able to brush my teeth like i want to do to the water q

but economists ad nomura released a note on friday saying that expectations that things might ease after that are optimistic. and they expect that covert curbs could remain in place until the middle of march. a protest as belonging to india's main opposition party were detained at a rally against the rising cost of living. in the capital, new delhi thousands demonstrated again 5 minutes. the new intermediate government have arrived, employment, and skyrocketing food and fuel prices. the congress bodies is essential items, like we have done up by as much as 175 percent is made. it came to 8 years in the southern us people in jackson, mississippi, a facie and unprecedented water crisis. more than $160000.00 residents in the city have run out of safe drinking water. the government is just reaching a bottle water that there's not enough to supply the entire city. intern monahan has more cars lining up around the block all to get the most basic of human necessities for nearly a week, the people of jackson, mississippi have been struggling with a serious water shortage. the national guard are

nomura cutting their 2023 forecast for china's economy, and a stronger than expected fix from the pboc is seeing a weaker offshore yuan. let's have a look at equity pain for asia because we are on track for a sixth weekly decline. when you look at rsi in equities, it looks oversold but you have seen huge drawdown in asian currencies along the back of king dollar. dani: it is incredible how the stronger dollar is decimating everything. as always, juliette saly on singapore's. let's get to our top stories from reporters, on the dollar story we will have mark greenfield. francine joins us from rome with a look at the italian election, and patrick has the latest on credit suisse. fueled by hawkish fed policy, the dollar has battered global currencies. japan is the latest country tapping their dollars stockpile to fight the greenback. mark, much has been made about this idea that this is unilateral intervention that won't be long lasting. but what can countries actually due to combat a weakening currency in the face of a stronger dollar? mark: you can follow what japan did and time you inte

george buckley is chief uk and euro area economist at the investment bank nomura.n for a half a percent rise in rates today?— for a half a percent rise in rates today? that's right and we have seen _ rates today? that's right and we have seen other - rates today? that's right and we have seen other central l we have seen other central banks raising rates even more than that, eddie royal reserve raise rates by three orders of a percent overnight, the bank of england, come from a position where interest rates were onlyjust position where interest rates were only just above position where interest rates were onlyjust above zero, 0.1% at the end of last year so the bank has come quite some way already in raising interest rates. i don't think they. they will need to continue going we see them raising interest rates notjust see them raising interest rates not just this see them raising interest rates notjust this month but in november, december, early next year, a lot more to go before we see this tightening cycle. you say more, some predict rates in the uk could be a.5%

nomura is calling for 100 basis points.ket is pricing in 75 basis points at the -- right now. they are realigning the market. at what point the fed goes and to when they can scale back. goldman sachs has up to 50 basis points. francine: yesterday, it was a terrible, horrible, no good day. are the markets overreacting, or is this in line with what they should have done? >> i am not worried. they didn't overreact, but we see this decision going into it that despite the jackson hole conference, everyone was expecting the second lowest print in cpa would put the fed in a situation where they would have to start thinking about it. the jackson hole preached these numbers because the fed cannot back away. i was reading through a report that has a caught. we are moving from the supply side to a demand led growth. it can be called that, but by hiking interest rates, they are finding a position. tom: they could and they should when it comes to the fed next week. good luck -- gundlach saying that you need to move on 50 basis points wi

nomura put their stake in the gown -- ground. that hasn't been called for. that's not been guided for. will the fed dare to go out of sync with the comms? dani: money markets are certainly inching, running towards 100 basis points. over 80 basis points priced into the next meeting which suggests there are plenty of people out there betting it will be 100 basis points. that is setting risk markets on fire. let's do a quick check of where we ended the day yesterday. it was painful. and the nasdaq 100, not a single stock moved higher yesterday. every single stock and the nasdaq 100 ended lower. those long-duration stocks getting absolutely decimated. it's the seventh time this year we've seen big tech stocks and down more than 4%. that's not the kind of move you would see in a bull market. this is bear market action. as far as where we are today, we are seeing buying back in the u.s. market but it's not enough to compensate for the pain that we saw yesterday. s&p and nasdaq up to tens of 1%. european stocks still sour. most of the losses in the u.s. market happ

-- 106 year-end for jordan rochester of nomura. lisa: that is extraordinary to even think about. the people talking about 90 per dollar for the euro as a base case, you are hearing this more and more simply because of this incredible divergence and the cheery rating -- the deteriorating backdrop. jonathan: tk is lining up for the new iphone. is that true? how much more is this going to cost him? kailey: i have heard up to $1100. raises the question of who is going to pay to upgrade their iphone if there's is still working. jonathan: does that mean my iphone is magically going to stop working in the next couple of months? you know how this works. all it stops working, you need to know and that you need to go and get a new one -- you need to go and get a new one. i am not suggesting anything the various happens. lisa: is this a prediction? are you saying you want one, or you think you will be forced to have one? jonathan: futures up zero .1% on the s&p 500, on the nasdaq 100. everyone at home is saying it happens to me too. it is mag

but economists ad nomura released a note on friday saying that expectations that things might ease after that are optimistic. and they expect that covert curves could remain in place until the middle of march. plenty more had on this news hour, including chilly, says no voltage reject a proposed new constitution which would have guaranteed social rights. malaysia's former prime minister asks for royal pardon justine into serving a 12 year sentence for corruption. and later in sport, manchester, united continue their winning run while ending arsenals. perfect start to the seas . ah, malaysia's former prime minister nigi bra, zach has applied for a royal pardon, days after he was sent to jail. raz, like his serving a 12 year prison sentence for corruption in a case linked to a multi $1000000000.00 candle, had state investment fund one m d b. a full pardon would allow him to return to politics, shall anchors. a foreign minister has defended authorities use of force against protesters in july and august. ali sabri says officers were protecting democratic institutions like the presidency and

nomura senior economist calls for the fed to raise rates by a full percentage point.se for that as the divide grows over what the fed should do tomorrow and then we're going to hear from, yes, power player jay leno he is with us live from his garage he met up with none other than elon musk, someone he calls the greatest innovator of all time he'll tell us what the

and says so we are expecting things to tighten even further, but economists ad nomura released a note on friday saying that expectations that things might ease after that are optimistic. and they expect that covered curbs could remain in place until the middle of march. malaysia's former prime minister nigi rise. psych has applied for a royal pardon, days after he was sent to jail. as ac is serving a 12 year prison sentence for corruption in a case linked to a multi $1000000000.00 scandal and state investment fund, one m d b. a full pardon would allow him to return to politics. challenges foreign minister has defended the authorities use or force against protesters in july and august. ali sabri says officers were protecting democratic institutions like the presidency and the legislature. we now fernandez, has more 13 years after shall anchor ended, its conflict with the tumble tigers. there are many issues that are still unresolved. and as the government delegation heads to geneva, the issue of truth and accountability will be coming up in a resolution that the government will have to

squawk box" this morning i'm in seattle, becky and joe in new york and we're about to head to beijing, nomuraowns in several major cities, including manufacturing hub of chengdu and shenzhen woo want to get over to eunice yoon. >> the 21 million residents of the southwestern city of chengdu along with the rest of china are waiting to see whether or not the authorities there are going to lift their lockdown as scheduled at 12:00 or noon your time as previously announced now the signs so far are not looking very good. just based on the case load of the reported case wednesday for chengdu jumped to 121 from 90 the day before the cases are also rising in the two other big cities that people are watching, shenzhen as well as guiyang residents say that the movement on the ground is also pointing to a likely extension of the lockdown, chengdu residents had said that districts had been tighten tightening curbs on business and schools have started online classes. now the tightening restrictions without any word from the government authorities are really raising kearnconcerns the that they could end up