worst month for stocks this year helping the bulls, new comments from atlanta fed president, raphael bostic we'll tell you why he says inflation may already be very close. >>> and speaking of the fed, investors are bracing for another key piece of economic data what is known as the central bank's preferred gauge of inflation. we have the milken chief economist, bill lee here with a preview. >>> plus, a record-breaking quarter from european banking giant ubs and exclusive comments from its ceo and later in the show, approving doubters wrong as salesforce blows past estimates it's thursday, august the 31st, 2023 you're watching worldwide exchange right here on cnbc. >>> good morning welcome to worldwide exchange. i'm frank collins. let's get you ready to start this day as always, we kick off the hour to check on u.s. futures on this final day of august trading with sessions riding a four-day winning streak look at the dow futures looking like they'll open up about 130 points higher futures are fighting for gains we clearly were not talking about the dow. the s&p and nasdaq fractionally higher

it is an open question but the answer seems to be probably and you have rafael pop -- raphael bosticaying let's wait and see what the lack of effect of the previous increases will be but we are seeing inflation will in the right direction even without that. even someone who told us last week that she thought he probably would need another rate hike said if we see progress, we probably don't and that is they will skip september and wait until november and by that time, we will have more inflation reports and they may have a better idea whether they have done enough but we are also talking about if they go another funny five basis points, not a big deal. >> how much will you really feel about 25 basis points. in the name of that game and getting data, looking at the stuff we had last week, jobs cuts report, that one spiked and jobless claims falling to him one -- a one-month low. what do you think we have gotten so far this has about tomorrow's data. michael: it is hard to say other than slowing in the pace of job creation was the that is what the fed raised interest rates to cool off

raphael bostic is a non-voter and urged more caution but said there has been significant progress onnflation. he wants the fed to be cautious, patient and resolute. he is not a voter but said he would grudgingly have supported the last rate hike. perhaps that gives you a glimpse into how he is inking when september rolls around. lizzy: donald trump was indicted in washington on federal charges over his efforts to overturn the 2020 presidential election. this is the third medically explosive criminal prosecution of the former president. if trump stands accused of conspiracy today for the u.s., to obstruct an official proceeding, and against the right to vote and have that vote counted. each of those charges can carry penalties of as many as 20 years in prison. the former president has repeatedly denied wrongdoing. that is the politics. i want to look ahead to what else is coming up today. at 12:00 p.m. london time we get for our earnings. there will be a test of the credibility of a ferrari solidification strategy. at 1:30 p.m. it is the quarterly refunding announcement. dealers expec

that is a topic we will be covering with siemens energy later on. 1:30 p.m., we will hear from raphael bostic and michelle bowman. finally, at 5:00 p.m., we will hear from the bank of england chief economist again. on friday he said after the thursday rate decision, if there is another surge in natural gas prices, the bank would be forced to react. not saying the bank is on any sort of preset path. there is also a story about hsbc executive slamming the u.s. for strong-arming the u.k. into cutting back business with china. and accusing the u.k. of being weak for going along with it. talk me through how these new numbers will play into the ecb thinking. >> we had a lot of upsetting data surprises out of europe recently but maybe this hits the right spot. we had factory orders for germany coming better than expected. if this industrial production also comes in better than expected, maybe people will start rethinking the trajectory of europe's economy. we had a soft spot already and are looking for more positivity going forward. >> thank you for joining me for our morning roundtable. you can get

raphael bostic has been a centrist, one of the first talk about doing a skip which they paused in june. they say eggs are evolving in a way that is consistent -- he says things are evolving in a way that is consistent. he does not say that he will vote for the hike but he is a voice saying we have done enough and this is all we need to do for now. haidi: kathleen hays there. donald trump has been indicted on federal charges accused of conspiring to overturn the 2020 presidential election results. jack smith spoke shortly after the indictment was unsealed. >> my office will speak a speedy trial -- see a speedy trial. in the meantime i must emphasize that the indictment is only an allegation and that the defendant must be presumed innocent until proven guilty beyond a reasonable doubt in a court of law. haidi: let us bring in jodi schneider. take us through the key points to you through this indictment? >> one of the key point is that it is the third indictment of the former president who is now the front runner for the republican nomination for 2024. that is the backdrop here. he had be

worst month for stocks this year helping the bulls, new comments from atlanta fed president, raphael bostic we'll tell you why he says inflation may already be very close. >>> and speaking of the fed, investors are bracing for another key piece of economic data what is known as the central bank's preferred gauge of inflation. we have the milken chief economist, bill lee here wit

raphael bostic of the atlanta fed and michelle bowman speaking. rafael bostic has been more dovish, michelle bowman has been more hawkish. i would love to have them out. today, a quite earnings week. only 33 companies reporting of the s&p. today's reports include tyson around 7:00 a.m.. you have pliant tier technologies, paramount and beyond meat. up 180 3% year today. tyson foods down 9.3%. beyond meat up 28%. this is a market of stocks. you try to come up with headline ideas, but this is a market of divergent stories that have different fates. tom: beyond meat, is it the old ai? remember when beyond meat was everything? we have gone from 2.20 to 1.15 on beyond meat. jonathan: beyond vegans, is there a chance of that? lisa: [laughter] tom: when beyond meat was the rage, i was like, are you kidding me? have you eaten it? lisa: i have not. tom: gross. jonathan: very salty. there is a lot of sodium and that stuff. i have had some. lisa: we can move on to talk about that later. i want to mention, 3:00 p.m., consumer credit for june. we have seen this

let's start with raphael bostic. he was one of the first fed officials last few months to start talking about maybe we should pause. maybe skip rate hike. now they have hiked rates again. jay powell is saying it is all about four numbers. raphael bostic says he thinks it is clear the labor market is slowing and he does not think they will need rate hikes more. he also sees the fed keeping policy restrictive. not cutting rates until well into 2024. president of the chicago fed, known as a dove, he says the job market is cooling a bit but it is still extremely strong. extremely is his adjective. they are not a leading indicator of inflation. and michelle bowman, he said more rate hikes are probably going to be needed. what she is waiting to see to prove or disprove that is inflation, whether or not it gets down towards 2%. does consumer spending slow and does she see the job market loosening? she has been one of the hawks, so it's not surprising she is looking at that report and seeing strength rather than saying it is

when you look at raphael bostic from the atlanta fed, he was one of the first people to talk about the fed doing a skip at the june meeting which it did before going onto the hikes again. he is saying that thanks to -- things to date seem to be evolving in the way of an orderly slowdown. in terms of policy he thinks this argues for the event being cautious, patient, and resolute, he is more worried about the over tightening side. perhaps much more ready or more ready to be convinced that it is time for the fed to pause again. shery: that is kathleen hays, let us dive into the market move with is the belly, we are talking about yield surging across the board. was that one factor were we saw u.s. equities being challenged today? >> u.s. equities ended the day kind of flat and that comes after the s&p 500 was at the highest level in 16 months and i think investors are digesting economic data and corporate earnings, if you break down corporate earnings, earnings have been mixed. they are not awful but they are not great either and of course all eyes were on amazon and apple on thursday in

contrast him with raphael bostic , president of the atlanta fed and he has been a centrist, a hawkish. he questioned do we need to keep hiking rates earlier this year? now he is talk about the fact that inflation is coming down and it looks like we are having an orderly slow down and is present -- promising. he argues to be cautious, patient, and resolute. you cannot say they are on opposite ends at all. they're both figuring out what they are to do but mr. bostic is more in the camp of saying it is time to pause. it will depend on the data. austen goolsbee it seems like he is ready to hike if he is not completely convinced that inflation trend is going downward. let's -- david: let's hope he is wrong. how long have we been talking about the painful inflation story on main and wall street? kathleen hays were spared stocks are down and bounce down. the dollar is up. we have seen the opposite move for seven days in a row. the market is taken as well deserved breather. it has been good and helen zhu is with us, managing director. helen: it is better this year than last year. david: that

raphael bostic and patrick harker.ake jokes about this but they have a mandate and this is the time of year where they have to go out and talk to people as part of the act. they don't have a speaking agency saying can you do des moines thursday? they have a formal mandate to speak to the business community. rotary. it's taken seriously. jonathan: we take it seriously too. we talk about these speeches. tom: i think they are over communicating but at the same time they have this mandate to communicate. jonathan: a multi-asset strategist joins us. do you have any reason to believe the data between now and the next fed meeting will challenge the soft landing native this market has embraced over the last couple months? >> i don't think so. we are not only staying resilient in the u.s. data about seeing a broadening out of the surprises across the board. the labor market still resilient, consumer confidence picking up. we know housing is in good shape, manufacturing hanging and -- in, and inflation is coming down and inflati