maria: cheryl i know that with regard to the input costs ppi number, we continue to see pressure, inat is a supply issue. what else should we focus on? look at two-year up 10 basis points level 4.67%. cheryl: right now focused on pizza we talked earlier the most expensive piece of pizza in new york city, why? it is because of higher wages higher ingredient costs that is the report, because of high rents, in have inflation, the inflation story, of course, just new york everything is expensive we saw, 48th street trying to repair, a busted pipe we've got that the person gets affected flood inflation, cpi, input costs ppi i am maria: yeah, and, john, don't forget the pce index. that is a real market mover because the fed looks at it so closely. jay hatfield says it's going to be bad when it comes out. >> and he's right because the pe price index is no longer going to benefit from that downward pressure that arose from energy price deflation. that's over with. as a matter of fact, you know, in the cpi for the month of january, we had a hefty 1.4% increase for the price of utilities for u

reacting to ppi.nce is previewing big-box earnings that come out next week. we begin with our top story. is bad news good news? it is offering some relief, but investors look ahead to ppi in less than 30 minutes. kristin saying, softer economic data this week contrasts with stronger than anticipated cpi, a sustained rise in continuing jobless claims and relatively weak retail sales .2 the economy softening a bit. if it is softening, is that a time to buy equities or to sell? kristen: the market is reacting so quickly on a daily basis to the data saying that this has fundamentally changed anything without thesis. you have to step back and say, what we know to be true going into this year? there are a couple of key points. one, the cash on the sidelines is extreme. when you actually look at the totality of cash balances it is a lot higher. you have cash on the sidelines. you have fed funds that have peaked.the idea of is the first cut pushed out, yes, it is, but does that matter for equity investors? in

dollar, a bit of caution going into the ppi numbers today.r asia equities reporter for more when it comes to trading in japan. the rally this year, about 2% away from the 1989-. is there since that we see the momentum to get there? >> we are actually getting pretty close. a couple of different drivers, one being the inflation part. even with pretty weak gdp yesterday, the market seems to have -- we look at that and japan seems to be exiting inflation at the moment. a pretty strong u.s. market and the weakness in china still continuing, which makes it a more favorable market. when you look at the fundamental sides of things, earning seem to be pretty strong as we see from the earnings season this time, and a lot of people citing this to be one of the key major factors for japanese rally. from eight flow perspective, it's also pretty supportive, we've seen investors buying five weeks of japanese stocks straight we are also waiting for the latest data later today. paul: heading into the end of last year a number of commentators saying were setti

ppi after hotter consumer price index earlier in the week, hotter ppi report as well. 0.3% jump month 30 minutes into the trading session, three movers we're watching. coinbase shares surging. the company posting a profit for the first time in two years. boosted by a surge in crypto prices during the fourth quarter. we'll talk to an analyst who raised his price target. roku shares plunging forecasting a steeper than expected loss in the q1 as it competes with names like netflix and amazon for ad dollars and getting price target and rating cuts from the street this morning. draftkings in the red after results fell short of expectations. revenue did grow more than 40% year on year with losses narrowing and the company did announce an acquisition of a lottery app. all with jason robins the ceo on " "money movers." >> rick santelli has it for us, rick. >> yes, indeed, david. these are preliminary february readings for university of michigan which means in about a week and a half we'll get the final readings. 79.6 on headline and even though that's less than we expected, that is still the

typically the ppi is not the most important number.t is not part of the fed mandate or the number members are focused on. the read across for pce is the most important inflation number for the fed which is fairly limited. obviously, if there was a massive downside surprise, there could be a reaction. i won't think this is the biggest driver. >> the thing i'm trying to get my head around is market expectations of when the first rate cut keep getting pushed back. now it moved from march to june. yet, markets continue to do well. is it just that stock markets are less dependent on when the rate cutting cycle starts as long as it does start at some point? >> i think the rate cutting cycle matters. it st. is only a second order relevance at the end of the day. what matters is the strength in the cycle and the underlining data. that is where we have seen improvement in the past few months. interestingly, the cycle has changed the characteristics. it is moving away from the services side in the u.s. and more to the manufacturing side. that is

headline ppi fell .2%. better than the previous estimate of .1%.t another decline in january, but see slight gains for headline and core pp oi. let's get insight from aditi from bank of america. nice to see you. when we look at ppi, give me a sense of how much importance it should have for investors trying to gauge what will happen with the fed? >> good morning. thank you for having me. the ppi is of interest because some of the components feed into the pce. we know the fed was hot in january. that will feed into the pce, but not all of it. the pieces of the puzzle are health care and financial services and airfare s. >> does it take on more importance or get more of the spotlight because of cpi? >> yes, for sure. the cpi was far too strong for the fed's comfort. the question is will the pce be too strong or rather strong? that is what we are watching for here. >> we get mixed signals because we saw weaker retail numbers coming in. what do you make of that? >> there were some distortions to the retail data for january. we flagged that in advance re

today the recovery is happening a lot faster from ppi. i think markets are still focused in understanding that we have growth in the economy. we have very strong growth. we have distinctive growth relative to the rest of the world and a lot of the conversations i had yesterday a lot of capital came into u.s. markets from the middle east funds, from european funds in particular when they were observing the deceleration in economic growth in the uk and japan. it's about growth. inflation is not the problem. did inflation disappoint the expectation this week? yes. but overall the disinflationary trend is still in place. and i thought the 11:00 a.m. hour's interview with atlanta fed president raphael bostic was really, really excellent because he really addressed the concern the market has right now. and the concern is surrounding liquidity and the balance sheet. and the reverse repo facility is beginning to wind down. the usage was at $2.2 trillion in december of 2022. now it's $500 billion. you worry about draining the liquidity at a time t

the focus now is on ppi and how that pans out.ast time we had that ppi data, we saw how it had a great impact on to your yields. keep an eye on the data coming out of the u.s.. as you said, it's budget day -- budget day. they will like to defray living costs. the budget is seen as a priority for the next generation of leaders. we have a preview. is it likely to address cost-of-living concerns? that's key. avril: absolutely. this is top of mind for the voting public ahead of general election that needs to be held before november next year. issues such as housing affordability, jobs, the recent tax hikes. these are still key concerns for the general public. as to whether this is likely to be addressed, i think it will come in a different form from past years. we saw more generous support measures via cash handouts, housing grants for example. given that the expectation for this budget is likely that it will be a prudent one based on the analysts that were polled by bloomberg. they expect there to be a surplus for the current as well

but was it 2% year over year in the ppi? >> you can complain a lot about that. you are right. not going to move down in a linear fashion. there is going to be a few stumbles along the way. this is kind of a stall here but certainly we have confidence and i think that the market has a lot of confidence that inflation is going to keep crawling lower. that is why after a week like we have had, really, the s&p 500 will close pretty close to the all-time record high. i think the market is pretty comfortable with that. a lot of people would've said that the market is very married to six, seven interest rate cuts out of the fed. we are going to see three, really i think when the market suggests that it might digested a little bit better than we would've anticipated because i think that the market is going to be pretty comfortable with cuts this year. >> the market was flirting with six or seven, not married to. it at least it looks like that at this point. of the s&p 500 does not look like it is at a great entry point right here for you when the russell 200 which has started to come

eco-data, headed into the key ppi gauge as well.hat print could also be hotter as we saw with the consumer side. that potentially lens to more pricing around fed easing expectations. broad-based gave across australia and asia. we are very close to the december 1989 high for japan. it is the breather we were expecting for the japanese equities rally, it hasn't materialized yet. it could come within the hour, so be poised to see whether that happens. even as we have some strengthening in the yen, now under the 150 level after weakness in the greenback, retreating from the three-month high in the dollar. meantime, as we await for the seemingly inevitable achievement of the 1989 high for the nikkei, here are stories you need to know on daybreak on the terminal. subscribers can find that. it's also on mobile and you can customize the settings to get news on the industries and asset classes that matter most to you. this is bloomberg. ♪ psst. hey, sarah. hi. if you had to choose, would you listen to elevator music all day or deal with payr

within ppi focused on three areas that translate into pce.ncial services. health care 18% of pce. airfare volatile up strongly in pci strong in ppi when equities rally which they have. also focus on micro. nvidia reports next week. they need to beat revenues by 1 to 2 billion and raise guidance. last quarter, higher hurdle. nvidia went down a few purse. rewind a year nvidia went up about 15%. what they do next week could be the next catalyst that takes the market higher or lower. >> rick and steve. rick, you've had a chance to think about all of these thing. will you tell me what's going on and maybe, i don't know, steve will probably disagree with you. >> first of all, nobody knows the future. all right? let's get that straight. all of these annualized three and six month, saying all along that's a treacherous path to follow. because every month it's going to change. here's the key. first of all, january is not the highest read. right? in 2021 high read was july. in 2022 it was march. in 2021 it was november. by a significant margin over jan

eastern economist are expecting an increase of one tenth of 8% for the ppi month over month and up sixyear, all of this sj powell will testify on capitol hill next month on the central bank's handling of inflation joining me to get ahead of it chief equity market strategist phil orlando, thank you for being here this morning your thoughts on where we are there's a lot of questions to discuss the federal reserve and whether we will see great cuts coming this year and a little bit of skepticism over the week and a half and what about the economic data improving that inflation is still elevated. >> first of all thank you for having me back, lance jump into the fed and inflation. powell do his humphrey hawkins testimony in front of congress next month. inflation as we saw with the consumer price index a couple of days ago remain sticky we are moving lower but at a pace that is much lower than the market would expect the ppi data not as important as the cpi data in later this month personal consumption expenditure index, the market had the perception that we got immaculate disinflation and

we saw it in the api and the ppi. and in the pce index particular. actually the pce index is where we are expect another fairly sizable print, somewhere .3 .4. it will depend on the import price numbers and on the ppi so we will see but i think it's also going to be a bigger sequential threat but at the same time i think the year on year rate will continue to come down because last year core pc was 51 business points. i don't think this year core pc will be close to 51 basis points which means the year on year rate which will come down will be important. >> good context, jan hatzius, thank you. up next, hindsight is 2020. evercore isi's roger altman is back with us he will tell us why he thinks may be a soft landing is not here at all. that is after the break closing bell coming back. get an expanding library filled with new online videos, webcasts, articles, courses, and more - all crafted just for traders. and with guided learning paths stacked with content curated to fit your unique goals, you can spend less time searching and more time learning.

ppi coming in at negative two point 5%. the estimate was -2.6. let's bring in stephen engle in hong kong. what stands out in china's inflation data today? stephen: the real risk is that deflation will be entrenched in china, and that has a real knock on effect obviously, consumers hold off on big-ticket items, if it's going to be cheaper a year from now, why by the car now or the like. deflationary pressures are mounting and again, would cpi falling 0.8%, the consensus estimate was for .5% fall. this was the fastest pace of deflationary pressure since september 2009 when we saw the launch of the global financial crisis. it is quite concerning as cpi now has fallen for four consecutive months. we already knew that deflationary pressure was happening, wholesale prices have fallen now for 16 consecutive months. there is a lag effect goes on to cpi from wholesale to retail prices, but now that the consumer and domestic confidence is quite weak, four straight months of cpi deflation at a faster pace than what we expected, it is a bad sign obviously fo

cheryl: i am glad you brought that up next week going to get cpi, that is tuesday, ppi is friday john are looking at retail sales the consumer. >> yeah getting report retail sales thursday morning a 30 -- if we are going to make progress, at reducing inflation, u.s. economy must have a slower rate of consumer spending. key can't afford to have retail as always rise 6. >> we unity sales in january saifrpgs 6.6% from december rate on senbly adjusted basis some indication slowdown by retail sales consumer spending without can when we are not looking at any rate cut at any time in 2024. cheryl: weigh in. >> i think that is correct, you know the other thing to watch is profitability of companies, so, i know earnings growth is going to really be the key to the stock market, as far as the fed is concerned, i think is going to be looking at consumer spending, going to be looking at cpi, ppi, and i think you know when they take a look at things, you know there are not focused so much on whether or not the consumer is continuing to spend they are going to be more focused on the employment said

cpi is the price that companies are charging and ppi is the input cost.e in a favorable environment for our margins and large caps with ppi trending lower and cpi quite a bit about it. that is a bit supportive. in terms of the consumer, we are seeing that when we do our deeper dives into the consumer sector. you have amazon and tesla driving a lot of the growth in consumer discretionary. the other stocks in consumer discretionary, notably cheap as we are hinting at before. sonali: some of the companies did have major news today, uber, you look at the market, the biggest gainers and it is nvidia, it is still meta, are you surprised by these price reactions? there are some people worried about bubble territory here. mandeep: look at what the market cares about right now. the incremental revenue from generative ai. it is the disruptive technology that everyone is focused on and companies like microsoft have quantified the revenue impact. four billion-dollar upgrade for just the tentative ai and copilot business. nvidia, we know it is a 60 billion-dollar data

haslinda: cpi and ppi coming out on thursday. deflation likely to persist throughout 2024. the data coming out at a time when investors have lost confidence in the market. you talk about how the benchmarks are at multiple year lows. we have the yuan, today if you look at where it is right now, pretty stable versus the usd given that fix we saw today, which is the strongest fixed since november. we have seen a lot of movement and action and promises of stimulus, but that is still impacting sentiment. we're awaiting cpi and ppi out on thursday to see where we are in terms of inflation, and it is likely to show deflationary pressures persisting. rishaad: looking also at what's going on in the energy complex. oil and gas futures. let's have a look with regards to them. we have natural gas futures unchanged, europe gas futures on the way up as is the oil price, largely due to what's going on with regards to the middle east. we had several attacks by u.s. and u.k. forces on targets in syria and yemen and beyond. let's find out the impa

, we expect ppi to come in at 0.7. in at 1%. it should be coming down. global demand is coming down. as that comes down manufacturing will come down, wholesale, obviously. looking at retail sales coming down that makes sense because i know we were really shocked with the december credit card sales. we expected 15 billion, we only got 1 billion so it makes sense that retail sales will come down and contract from where they were and we had a beat in december -- i mean january, it was 0.6, we expected 0.4. with housing, year over year from 2022 to 2023 it increased 5.5%. the expectation from 2023 to 2024 is 2.8% increase. the issue is, it's still increasing even as these mortgage rates are so much more compensatory based on lower for longer, 15 years of super low fed funds rates, people expected more house. they had to trim the value. it's still going up because the market is so short. as far as the he global macroeconomic picture between china and the situation of losing 7 trillion of market cap, the u.k. announcing slig

because like we saw, cpi started to tick up and even though it's slight, the ppi number on friday was the cpi and you know that the ppi leads the cpi because keep at the producer level and rising prices at that level tend to make their way over the system over three or four weeks which means that the next cpi reading next month could probably be even m more elevated than this one and the fed caused to sit back. no one should be surprised. the fed has been pushing back on the narrative the market has been screaming, four, five, six rate cuts and the fed has been clear, aware that inflation is a sticky and a problem and i think that last week's data shows that. >> the cpi refers to the consumer price index, retail inflation stat, the ppi, producer price index on the wholesale front and both were showed some uptick surprises. if the fed were to cut rates put off some thought next month. and that's out the window and some say could be the latter part of this year, where are you on this. well, i'm actually in the camp they shouldn't cut at all. the data doesn't suggest a strong wage, and s

this was taken before the cpi and ppi was taken, and it rises 3%. a minor move but it fits with the overall general inflation atmosphere. on a five to 10 year basis, no change, 2.9%. looking at the headline numbers, 79.6. current conditions 81 .5 slightly down from last month. expectations rise 78.4 from 77.1 which will be the one that is more important than current conditions. it does look like we have not seen much of a change in the way that people look at the michigan numbers from party sentiment. democrats love and republicans do not like it. sonali: when you take all of the expectations embedded in the report in the ppi and cpi, what do you take from all of this together? michael: because is one month's data you will say you need more information to know if this is a change in trend or just as members of the fed said just kind of a bump in the road. the ppi data affected significantly by portfolio management which was up 5.5% feeding into the fed's favorite indicator the pce index. the market working against itself. people in the markets pushi

have just come off hotter than expected reads on the previous inflation numbers that we get, cpi and ppi consumer price producer price index how far out of reach is a much awaited interest-rate cut if core pce on thursday comes in warmer than expected. coming up former st. louis president james mueller is ready to make a call on the timeline and he's been in the room where it happened many, many times so we will get is on what he's expecting what the fed will think no matter what the number is. on this monday we are coming up off the six weekly when for the major embassies what should we be doing with the paper projects if you got some to the floor show, kenny polcari who rightly pointed out this morning in your note that it took the s&p i mere 17 days to go from 5000 to 5100 were pulling back, 5077 but what should the lightning fast move tell investors. >> i think it tells it that caught up in the momentum trade it went too far too fast. i think it feels although i've been saying that with 5050 that it feels choppy. it doesn't mean that you should panic and get out it just means you sho

cpi on tuesday, ppi next friday.er chris zaccarelli with his expectations next. you are watching "mornings with maria" live on fox business. ♪ personalized financial advice from ameriprise can do more than help you reach your goals. i can make this work. it can help you reach them with confidence. no wonder more than 9 out of 10 of our clients are likely to recommend us. ameriprise financial. advice worth talking about. ♪ ♪ ♪ ♪ ♪ ♪ cheryl: taking a look at futures, green across-the-board, dawa by ten, nasdaq up a 37 and nasdaq up by 4.5. the s&p 500 hitting the 5000 level for the first times yesterday but closing just below the milestone scoring a second straight record close for the year. we have earnings out, pepsico coming out this morning, the company beating on earnings that they missed on revenue, the stock down 2% in the premarket, the spring and independent chief investment officer chris zaccarelli, your reaction earnings were getting pepsico and inflation data next week. >> good morning earnings has been an

this was on the back of hotter than expected ppi.hing out for the wrong reasons. >> people look to the retail sales and said that's not indicative of weakness. it seems people are repricing out the chance. no one is calling for recession right now. it's good to be goldilocks at the same time. we see some hotter than expected inflation cool off just a bit. it is the perfect world for stocks. it is not perfect for bonds. jonathan: that's the ultimate question. when you push this through the fx markets. dollars stronger. five consecutive weeks of it. let's go through it. the u.s. economy is still ok. jobless claims lower. standing up to global weakness. the u.k. in contraction. germany in contraction off a recession. japan in contraction in recession. china, a slumping property market rating we would be talking about a dreadful global economy. a global recession. >> which is maybe why we are not seeing these respond to the geopolitical risk. here is the question, the u.s. remain in its own bubble. everyone we ask you week said yes and t

cheryl: vance is, what'd you make of the ppi data this morning? markets didn't like it. >> we're till bullish. we still think we're going to have a good year. there's other data coming out, so it's kind of a wait if see game now. there's no doubt we're going to have surprises throughout 2024, so i don't think that should be a surprise, having a prize. [laughter] cher cheryl well, i mean, as it is, that ppi report or my prediction is this is going to make c pix for the month of february and march a lot stickier because this is the producer prices that filter out into the system. you know, keith, i want to go back to something, i i just brought up nvidia. we are going to get those earnings next week, and that is going to be, i mean, that's going to be the rumble of the week. what are you expecting from nvidia? some people say if that's a baseball game, we're only in the third inning. >> you know, that's a tough call because, you know, people, again, thought i was absolutely out to lunch when i said buy this thing when it was under the 200s. here we

cpi and ppi report.are mixed, elder on the back foot, commodities catching a bit on the back of the china reopening story. this is bloomberg. ♪ (♪♪) we're lucky to have this team working for us. our therapists give their all each day, by helping those who need it most. we take great pride not just in the job our team does, but in them as people. our people. and while we're in the business of taking care of others... it's important our therapists know that with benefits from principal, they're taken care of too. (♪♪) >> it is almost 11:00 a.m. in singapore and shanghai. here are the top stories. asian city -- asian shares slide after optimism and limited data from china. israel warns of a ground offensive in gaza unless hostages are released. international explains in asia with apac x china president and a mutated session in asia. never mind the return of china, no boost from china. bear in mind we saw the selloff in the u.s. s&p. cpi data coming in harder than expected, justifying a delay of the first cu

we'll take a look at how the markets are moving this morning ahead of the ppi report. we'll be checking for market impact. dow industrials down 35. the nasdaq is up 100, first, the word on wall street panel is here with expectations when we come right back. you're watching "mornings with maria" live on fox business. stay with us. ♪ there's a party in the usa. ♪ (♪) 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®. (man) what if my type 2 diabetes takes over? what if all i do isn't enough? or what if i can do diabetes differently? (vo) now you can with once-weekly mounjaro. mounjaro helps your body regulate blood sugar and mounjaro can help decrease how much food you eat. 3 out of 4 people reached an a1c of less than 7%. plus people taking mounjaro lost up to 25 pounds. mounjaro is no

we had a big cpi print on tuesday, big ppi print this morning. you're seeing equities, again, off the lows of the morning trying to poke up here in the green despite if yields rising here on the day. for the week the dow and the s&p 500 looking to squeak out a sixth straight week of gains. the nasdaq on pace to snap if a 5-week winning streak. so trying to end here on a positive note despite yields and all the stuff making some news. jackie: we still have big earnings next week, nvidia is on deck. we'll see how markets react. but meantime, let's see how charles payne is reacting on this friday. charles: yeah, i wish i got one of those orange jump suit, although i'm not sure it came in my size. have a great weekend. [laughter] good afternoon, i'm charles payne, this is "making money." the rally has a little hitch to the giddy up, but make no mistake, folks, every pause has been a prelude to the monitor move higher, and many are saying we've seen this movie before. or have we? i'll ask ed yardeni and nicole webb. openai unveiling an a.i. that's ins

we had a hot cpi, ppi reports and a strong jobs report. what more could they tell us that would be different? that is going to be the balance sheet. i will not get into that now. is the fed out of the driver's seat? it is in the driver's seat for the likes of nvidia, and earnings take front and center for investors who are website by 80 to $100 billion by basis point's. jonathan: we talked about this a few times and you are on the money. we have spent so much time talking about fed policy, pushing back interest-rate cuts, yet, equity markets are still doing ok. we have question from march to june. risks are skewed towards a delay . still, stocks like nvidia are up 40% your to date after a monster gain last year. lisa: nvidia has a secular shift, so people are saying these are the hopes and dreams of the entire market, pinned on one company, with respect to generative ai. then there is the question about the other 499 stocks and the question of the hopes and dreams of individual consumers on how much they will keep spending. does it matter

the ppi month on month survey, expectations are 0.1% and we are waiting for that number.n acceleration of 0.3% month on month, not much of a move. no change on that month on month number. lots of implications as we watch dollar-yen holding at the 149 level. a bit under the 150 threshold for three months when it comes to trading in dollar-yen. expectations are building that we should break that level and hold above potentially on tuesday if the u.s. cpi tops estimates, or in the coming sessions if we see yields extending the year-to-date advance and rising towards new 2024 highs as has been the theme for yields this year. 150, considered important because that is where we have seen that intervention risk intensify. we will be watching cpi numbers and the correlation when it comes to u.s. treasury yields as well as whether we had above the one for the level. looking at the movers we are tracking in this trading session , 15 minutes into the start of cash trading, csl has been of the laggards, falling early. this is the pharmaceutical giant , beating expectations of the 17%

but, it makes the ppi later this week even more important.e in a couple weeks mission critical. >> right. i would actually argue it is on the table today. it's not necessarily priced into the expectations for rate moves. the moves that we've seen in yields today. so, the two in the 10 year period we've seen bigger intraday moves before. but, these moves are telling me that the market is actually putting back on the table the risk of overheating, and the risk that the fed not only can't exit the hiking scenario, but might have to stay more hawkish as the year goes on. one of the things i think it's really important for people to look at, and track as we go forward as what the fed calls for super core. the cpi super core. that's been stuck at about 4% for the last seven months. pre-pandemic, that was about two or 3%. 4% is uncomfortably high. a big portion of that is transportation services. which is up 9 1/2%. we thought we knew what all the big problems were in inflation. it was used cars for a while. it was housing for a while. now, we take

one is cpi -- one is cpi and ppi movement originally dictated what was going to happen.oal prices, iron ore prices. if you look at the development of the prices is influenced by international developments and if you look at hard commodity, the downside is more limited compared to 2020 three because property developers are seeing a small decline compared to the last few years. pressures will be improving or stabilizing, but if you look at the labor market situation, we can monitor development but ppi and indices are not doing great. demand is weak. i would think that the prices are weak. so for core cpi we are looking at that stance for this year. annabelle: given we are approaching the mpc in march, can we expect anything major in the countdown from here to then? >> right now the demand expectations and the major stimulus is probably not fine. we are seeing easing moves from policy makers and surprise 50 basis point cuts. we did not do anything in the fourth quarter. cuts in q4 and q1. they are doing more to supply property funding but they still require collateral to th

if we look at the cpi, ppi and gdp deflator's, they are all in active readings at this moment. the pboc also mentioned there is a substantial gap from the price levels to meet the targeted level. these are all telltale signs. if you look at the upcoming data, china's cpi and ppi data for january, they are likely to show china still has this inflationary pressure. i think it mainly is because china's demand remains quite sluggish. on the other hand, china still has manufacturing over capacities in a number of sectors including consumer durables. the people's confidence level is quite low. their expectation is quite weak. that would keep the expectations of price relatively low. haidi: so there is one prevailing narrative that they know this is a slowdown china needs. this is a structural adjustment. if they can prevent an unruly situation when it comes to the rest of the property sector, they can get through this. what happens when you have an additional stressor like trump, a tariff of more than 60% of chinese goods -- on chinese goods? >> the talk about further trade tariff hi

we see the previous session paring most of the losses spurred by hotter than expected ppi. the broad theme continues of the repricing and readjustment of lowered expectations for rate cuts. the first fully priced in cut shifting back to july from june if you are looking at said dated swaps. we will get more from our next guests our chief asia-pacific regional equity strategist at goldman sachs. always great to have you with us. going into the start of trading in the year of the dragging -- dragon things look as good as we could expect given the weight of the last year. you think the positive carry through from things like spending data will be end of two change the trajectory of how is this feel about chinese risk assets? timothy: good morning. great to be on. a quick answer is this will take more than just a couple data points to change investor perceptions about china. we are, sadly, just celebrated yesterday, sunday, the three year anniversary of the top of the bull market the start of the bear market. there have been a number of different rallies off the bottom in respe

a warm cpi and ppi. the s&p 500 since september.ow volume and yesterday volume really light here so treading water a little bit ahead of that big pce coming in in line below which would help markets potentially or is it going to come in hot and maybe confirm that inflation rating from the cpi and ppi that has set a bit of a downtrend or a halt for markets to some degree. katie: feels like we're in a bit of a holding pattern. we have economic data to get to but we are not there yet. coming up in our next segment we will look at israel's war economy with a pioneer of the venture capital industry. this is bloomberg. ♪ this is our future, ma. godaddy airo. creates a logo, website, even social posts... in minutes! -how? -a.i. (impressed) ay i like it! who wants to come see the future?! get your business online in minutes with godaddy airo - super excited to open up my diploma from southern new hampshire university. ♪ ♪ - i'm nervous, i'm excited. ♪ ♪ - [man] okay, let's see it. let's see it. - oh my gosh. - jesus suarez, i did it and it'

this week the cpi report surges and ppi report surges and it was cold in january, what the hell?people have got to be frustrated. >> last year it was warmer so the whole weather thing sounds like the communist countries wherever they had a bad crop saying oh, the weather. or sabotage. this case it's evil corporations. charles: i'm concerned, steve, we keep whistling past the graveyard and inflation is rebounding and we saw it in the philly fed and cp and i recollects ppi and housing perperpermits and retail sales d hurting the american public. >> it's hurting american public and that's why they don't buy this with happy times are here again and they know they're facing a storm and even those doing well and no faith in the future. they don't think the economy will be doing well in the future. that hurts future investment. so whether it's hurting bank lending, people trying to -- charles: have we crossed the rubicon and getting $34 trillion and starting -- best on our debt, have we crossed the rubicon and both political parties are reluctant to do real hoes terrificty. >> that's wh

i do think the economic data is really strong, if you look at the ppi, the inflation and so forth.king atjune at the earliest — of course, subject to change depending on the data. in other news... a european union mission to protect commercial vessels against houthi rebel attacks in the red sea is due to launch today. the ongoing disruption to cargo shipments between asia and europe is causing firms to re—route to the much longer passage, which is affecting supply chains. turning to the aviation industry, which has an ambitious goal to achieve net zero emissions by 2050. it's in a race against time to produce enough sustainable aviation fuel to meet growing demands. ahead of the singapore airshow, my colleague monica miller takes a look at how it's made — from the fryer to the refinery. this cooking oil may seem like it's already served its purpose. but for the aviation industry, it's liquid gold, as it looks for ways to cut its carbon footprint. the fleet in malaysia is constantly growing. we're about 100 vehicles at the moment. every month, we constantly deploy more vehicles. fat

i do think that the economic data is very strong, if you look at the ppi and the inflation and so forth're looking atjune as the earliest, of course, subject to change depending on the data. china has lifted a ban on imports of chinese b. this was after the emergence of mad cow disease. —— chinese b. foreign ministers and trade ministers says lifting the embargo was good news. they had joined other eu farmers in protest. mean while, thousands of indian farmers demanding higher prices for their crops have paused a march to india's capital of new delhi while their unions hold talks with government ministers. they are pressing the government to set a minimum price following similar protests in 2021. they were about 200 kilometres away from the capital when they clashed with security forces last week. let's turn now to the aviation industry. because singapore has just announced that it will require all flights departing the country to use sustainable aviation fuel from 2026. this is part of a global effort to achieve net zero emissions by 2050, but it is a race against time to produce enoug

friday we get the ppi, that's the producer price index. more important because parts of the ppi feed into the pce. that's february 29th that we get that. that's coming out. i would also be looking at some of the inflation components of the isms. there's some surveys out there. nfib. i would be watching all of that, because the fear here is not so much what's happening on the good sector but the service sector. my favorite explanation for what happened in january is that people promised raises at the end of the year. it's still a one-off issue but points to the need about investors need to look at tight labor markets that continue with inflation on the service side and that could hold back the fed and stave their hands on credit rates. >> steve liesman, our economic reporter. always great to see you. >>> time now for a check on some of the top corporate stories. silvana henao is back with those. >> good morning for you. the brain drain that apple reportedly continuing as they look another high-pronile leader. he's been with apple since 1992

now the ppi takes greater significance. now you have to wonder about the pce later this month and sort of trickle through to that. does this change the goldilocks narrative for bulls like yourself? >> it's not a good piece of news. it doesn't exactly throw us off the track of the immaculate disinflation or soft landing, whatever you want to call it. it's a bad data point. we've had other good data points. i hesitate to explain in a way, but let's do it owner. we know about owner equivalent rent and auto insurance. electric vehicles cost more to fix when they're damaged. i think the fed knows that. they're looking at it saying, this is not something we can control. let's remember shelter is a lower weight within the pce, and the pce looks like it's solidly going to come in below 3%. it doesn't throw me off track. it is a bad data point. you take a step back once in a while. >> unless, steph, at least a good part of the rally is predicated on the fact we were moving in a straight enough line that we're heading to trend enough

we know it came in hot with ppi and cpi. it is not necessarily fully known.be hot this week. i think one data point is not bad. it is expected. the problem is will this be sticky? we can forgive pce being hot. it will be okay. what happens if february is sticky and the market continues to re-price? the market has been driven more by earnings than fed expectations. saw the ten-year yield stable last week. we had the meeting minutes. you had activities that were not super dovish. if earnings come in, you could see that continue to counter balance as the fed backs off. we said we never expected march. we thought june or july was reasonable for cuts to begin. pce -- is this a blip or a trend? we can take one bad month, but two or three sticky months, people have to re-price. >> vicky, the pot hole in the road higher for the market for nvidia for a lot of things. something else i want to touch on. speaking of earnings, berkshire hathaway with the 52-week high. this stock, if you look at rsi, it is overbought. is that something you are looking at in the market? nvi

i do think that the economic data is very strong, if you look at the ppi and the inflation and so forthing atjune as the earliest, of course, subject to change depending on the data. in other news, china has agreed to lift a long—standing ban on imports of spanish beef. it has been in place since the year 2000, when beijing banned beef imports from all countries in the european union, after the emergence of mad cow disease. the announcement came after talks in spain between the two countries�* foreign ministers, and spain's foreign minister says lifting the embargo is good news for spanish farmers, who have recently joined other eu farmers in protesting what they say are burdensome regulations, high costs and cheap imports. meanwhile, thousands of indian farmers demanding higher prices for their crops, have paused a march to india's capital of new delhi while their unions hold talks with government ministers. they're pressing the government to set a minimum price to food produce following similar protests in 2021. the farmers were about 200 kilometres away from the indian capital when t

the ppi the wholesale read on inflation, will feed into that pce number.nomists looking for a 0.4% jump and that could be the biggest jump in a year and they can extrapolate from the higher prices in hospitals and medical services and in the portfolio management which is, of course, higher stock prices, and it could bring, carl, the three month and six month annualized numbers the fed looks at which were below 2%, back above 2%. now, is it going to be a game changer? given all the other data we've h lately the market has moved from the end of last year to this year, down to 3 where the fed is, and, you know, the question would be, does the fed change its own dots or how many cuts it expects to happen given the stronger numbers on inflation and the economy and pair that down? does the market have to continue to sort of play catch up? that's been the story. certainly in the fed expectations, the bond market and the inflationary numbers. >> i mean, what d given what we've seen previously to figure out what pce might be, what the chances are that we get someth

retail sales and the ppi. you're watching "mornings with maria" live on fox business. ♪ so let's dance the last dance. ♪ let's dance the last dance. ♪ let's dance the last dancere tonight. tow ♪ne our financial planning tools and advice can help you prepare for today's longer retirement. hi mom. that's the value of ownership. after last month's massive solar flare added a 25th hour to the day, businesses are wondering "what should we do with it?" i'm thinking company wide power nap. [ employees snoring ] anything can change the world of work. from hr to payroll, adp designs for the next anything. 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. it starts with a grill. b

we have a lot to look forward to, cpi tuesday, ppi friday, word on wall street is coming up next.on't miss a moment of it. you're watching "mornings with maria" live on fox business. ♪ j.p. morgan wealth management knows it's easy to get lost in investment research. get help with j.p morgan personal advisors. hey, david! ready to get started? work with advisors who create a plan with you, and help you find the right investments. so great getting to know you, let's take a look at your new investment plan. ok, great! this should have you moving in the right direction. thanks jen. get ongoing advice; and manage your investments in the chase mobile app. (man) what if all i do for my type 2 diabetes isn't enough? or what if... (vo) once-weekly mounjaro could help. mounjaro helps your body regulate blood sugar and can help you eat less food. 3 out of 4 people reached an a1c of less than 7%. plus people lost up to 25 pounds. mounjaro is not for people with type 1 diabetes or children. don't take mounjaro if you're allergic to it, you or your family have medullary thyroid cancer, or multi

ppi added to the confidence that the path to 2% is slower. haidi: where do you find opportunities? we're seeing growth but also more compelling valuations in europe. >> when i look at the u.s. market, 84% of the s&p 500 has reported earnings. they are better than expected. when companies eat on revenue and earnings how much share price does not go up as much as it has in the past. maybe it is a signal that it is a fully valued market. when i look outside the u.s., i see better opportunities. china to be a positive story from an equity market because the sentiment is so negative. last but not least, i think there is a building positive but i think it will lead to changes of significant behavior. right now, they don't have a lot of money in equities. >> i want to go back to china very quickly. largely tainted. it's a hard thing to put your finger on. i am betting on the cumulative effect of dozens of stimulus measures. there was a conference reported on 40% investors have decided, i think the evidence is seeing prices of overestimating the downside. >> to the flipside of the negativi

gold prices popped after tuesday's cp ireport, climbing again today on the ppi data.re you see it. copper on pace for its best week since december 1st. our next guest knows a thing about both of those minerals. you reported a beat on the top and bottom line after the beat yesterday. congratulations on that. business is good then? >> business is very good. it's nice to be on the show, tyler. >> great to be here. >> where are you seeing the greatest demand, is it in gold or other minerals or both or all? >> all. you know, so gold is both a commodity and a currency. on the commodity side, we are seeing very strong markets, and we expect to see strong markets. the one thing i would say, tyler, about commodities, especially important critical metals, is it's not just what you're mining these days, it's where you're mining. this whole issue of security and supply. the less we've been accustomed to security of supply of energy, i think the next 15 or 20 years it is going to be equally important to secure metal supply. with regards to gold, which trades as a commodity and a k

also retail sales and ppi later in the week. european markets, take a look at the eurozone, the ft 100 is lower of by 7 points, the cac quarante is up 36 and dax index is higher by 81. in asia overnight, markets finished like this. we've got holidays to tell you about, hong kong, shanghai, taiwan, south korea all closed for the lunar new year holiday overnight. japan also closed for a national holiday. tomorrow, tony bobulinski will testify as part of the impeachment inquiry into president biden. james comer joined me yesterday on sunday morning futures, questioning why the biden family accepted millions of dollars china and other adversaries. >> we have a lot of questions about the purpose of this money. i don't think any american is okay with the fact that joe biden's immediate family started receiving millions and millions of dollarss just weeks after he left the vice president sigh. we need to know exactly what the chinese were paying the biden family members for. we want to know what the chinese expected of the bidens and w

we think that the inflation data that we're getting, whether that is cpi, ppi, ism prices paid index,hose are showing inflation is still hot. what that ultimately means the fed will be very cautious about preemptively turning, pivoting to an easing cycle. charles: right. >> so we don't expect any dovish surprises from the fed. charles: where does that take this market though? because i thought i read you have 3500 for the s&p? >> that's true. the s&p 500, our target for the s&p 500 it will fall down to the mid 3 thousands, 3500. charles: wow. >> that is based on expectation you know, earnings are going to fall around 10% and that the p-e ratio is going to be 16. so that's what put us to that target. charles: that is sort of a normal market in most cases. thank you very much. always appreciate having you on? >> thanks for having me. charles: all right, folks it is all about nvidia, as we head to the break i want to share an ominous chart. cisco back in the day, yellow line cisco, the tech bubble, that was the darling. that was the stock everyone loved. many folks made a comparison of c

look at the ppi, it's a little hot, look at the cpi, it's a little hot. and then midweek if you remember, pal low a aloe -- palo alto reported weaker than expected earnings, so tech got hit. that was a leadership group. so going into, into nvidia, it was very, very important for them to deliver. so right when sentiment got very negative, all of a sudden nvidia delivered, the semis exploded, tech started to lead again, and the dow participated. so here we are again at s&p all-time highs. every time it seems like we're about to get a corrective phase, there's a group that takes the baton. it was just the semis, and now it does feel like if we can get a little bit of i'd say relief in rates which have been ticking higher, i do think the bios and the small caps are waiting in the wigs to finally go -- wings to finally go and provide. in the last week or so, it's been all semi ifs, a lot of tech, the fab seven. it was the mega seven, now it's the fab four because tesla and apple respect r aren't doing as well. right when we're about to fail, there's a new grou

open and as these rates shot up and they stay there during the day and there's more talk about the ppithis is just an aberration at the moment that is nasdaq is, in fact, going to slip and start to trade lore as we move into the full trading day. stuart: you want to see see a nice dip so you can buy. >> i would love to see a nice dip. [laughter] i'd love to see that. stuart: have a great weekend, kenny polcari. >> you too. bye-bye. stuart: now to politics. that's our bread and butter. the stuff i love the most put it hike that. fani willis took the stand in her misconduct trial yesterday, and let's just say it raised some eyebrows. roll tape. >> highly offensive when someone lies on you, and it's highly offense e when they try to implicate somebody you slept with them the first day you met them. you think i'm on trial, these people are on trial for trying to steal an election in 2020. i'm not on trial no matter how hard you try to put me on trial. stuart: her former assistant confirmed willis' personal relationship with the prosecutor. watch this. >> and when i say personal, romantic.