get in on the savings and switch today. >> here comes the retest.g play on the s&p 500 3949. kickoff to the close. romaine bostick care. for some reason, we continue to see stocks did higher. >> we are waiting and holding our breath to see if we are headed for a buy situation tomorrow. romaine: still right around the highs of the day in the major indices here. i think

perhaps a mild and relatively brief one, we could see dimunition in earnings which could cause a retestf that october low if not lower levels before a durable bottom is formed at this juncture, is teams as though there is some likelihood that we perhaps can skip past a recession, albeit by a trivial amount nonetheless, help to support the kind of earnings that wall street is going to be clamoring for in order to expect to see equity prices already have seen that discount into the drawdown we had in october and, therefore, maybe build more sustainable highs if we get to above the 200 day moving average that we flirt with over the last 12 months. dimunition is a great word ron, what do you say >> with respect to inflation, yes. i was combing through every inflation statistic to write the piece that i put out today and that number has been in many cases cut in half where it was at the peak. for the last six months, inflation has come counsel consistently whether cpi, core cpi, core pce, the fed's favorite gauge we are seeing inflation fall off. to that word transitory, which the fed may ha

it is down 36% can you see retesting of the 75 or 77 level.they've done a good job also increa increasing revenues from other fees and the loan loss provision climbed slightly that's them being prudent. they're trading with a dividend. it is a solid quality stock and executing very well. it should stand out. other financials struggled and saw that the profit got eaten into by rising cost, c os deshg managed the rising cost very well as well as expanding the loans an minimizing loss of departments. >> victoria green, good to talk you to thank you for your insight >> happy to bring mayhem >> coming up, the looming debt ceiling showdown and the potential ripple effects in the markets. "power lunch" back right after this because you've got the next generation in global secure networking from comcast business, with fully integrated security solutions all in one place. so you're covered. on-premise and in the cloud. you can run things the way you want... your team, ours or a mix of both... with the nation's largest ip converged network, from the mos

look at that remember the fed is targeting wage inflation and deflation can't rule out a violent retest 2021 lows near 350 the sharp reversal at some point in the not too distant future. the specklator has two positive in the middle of last year get obliterated, they get positive at the top and got crushed. the same speculators have gotten too negative and she's betting they will get in the oven. best she wants the freeport lng facility is back online and that proves a ton of natural gas to be sensitive to europe of course, garner says the previous act of resistance on the way back up and that's 460, $6 and $7. but ultimately, she sees natural gas making its way back to the 6 dol to $7 range. there isn't enough pipeline capacity to take it where it should go if the market is tied up as it is. in short, last spring oil and natural gas and wheat skyrocketed in the invasion of ukraine and went to insane levels and traders misread the situation and towards the end of the year, the markets normalized and prices plummeted with move fueled by money managers chased by momentum. garner expects t

caps 5% or whatever to the upside, maybe retest highs at 120.tay protect in the a stock position that still has decent fundamentals. i just think it's been overrun at this point. >> mike, what do you think >> i think the valuation looks awfully rich here. four bucks is what they're expecting for full year 2024 i should say fist kl year 2024 that's the highest the company would have ever learned on an earnings per share basis, and it would be 27 times that number? that's pricey. over 30 times what we're expecting this fiscal year it's priced for perfection i realize coffee is a hard thing to give up, but it really has to hit everything right to justify the current price. >> it's like 7 bucks a cup seem like a no-brainer to give up carter, what do you think of the chart here >> this has been one of the best performing large cap stocks. it bottomed way before the market in spring never dip in the october but the problem is just what you've heard -- it's come too far. it's full, expensive, whatever word one wants to use. i'a m seller. >> all right u

so me, i'd actually be positioning for this thing to retest those prior lows here and, again, i think the technicals are too strong. one last thing on the valuation, there was valuation compression last year. we haven't really seen a meaningful drop in demand. but we're seeing some other parts of the business decelerating i think you probably see that in their guidance when they report tuesday. >> another etf have a better monthly run. the home construction fund this one is likely on a different trajectory >> right so this is something we've been long as a group. i'm going to go another way now. it's a little bit too much of a good thing let's put our lines and arrows in we are back to a difficult level. i think you falter here when you go back down into the apex, the formation. take profits, hold builders. >> dan. >> we talked about this earlier on "fast money." even though the ten-year u.s. treasury is coming in, i'm not so sure that one comes in so quickly. to me, we saw that huge surge in mortgage applications when you saw the rate come in i'm with carter here on the technicals he

latvia, we hear from the communications director of sports devoted to close to the baltic states or retesting ground for wallace. the act either on direct instructions or in coordination with their superiors and the european union and in the u. s. and prince harry reveals he killed 25 people ger in. his mission in afghanistan saying that they would just chest pieces.

because if the report is well, great, upside, maybe it will retest at 120.ecent fundamentals, but i think it is a bit overrun. >> mike, what do you think >> i think the valuation looks awfully rich here. four bucks is what they are expecting for full year 2024 i should say fiscal year 2024. highest that the company ever would have earned on the earnings per share basis and it would be 27 times that number? that is a little pricey. over 30 times basically what we're expecting this fiscal year and it is priced for perfection. i realize coffee is a hard thing to give up, but it really has to hit everything right to justify the current price. >> when it is like 7 bucks a cup, i mean, seems like a no-brainer to give up. carter, what do you think of the chart here >> this has been one of the best performing large caps stocks, it bottomed way above the market in the spring, never d never dippen october. but it has come too full, it is full, expensive. whatever word you want to use, i'm a seller >> up next the final call. you ok, man? the internet is telling me a mi

at a minimum, we will retest those lows. we still could have other policy supports.hat could be a positive. we think the minimum we go to end those lows. our base case would be 3300. this is the best news i can give you. it's going to be early partly year. it's not going to be the second half of the year. if we make it that far, we probably did orchestrate a soft landing. earnings growth would come back up. guy: that timing is interesting. as ever, a fascinating note over the weekend. we always appreciate your time. mike wilson of morgan stanley. still ahead it, targeting salesforce, we have more on the multibillion-dollar stake. what it means for the future of this camp and he. that's next. this is bloomberg. ♪ >> it's time for the bloomberg business flash. spotify is the latest company to cut jobs. streaming giant said it is cutting its base by about 6%. they have about 9800 employees. the stock had fallen at 58% since the end of 2021. microsoft is investing over several years in open ai, the research lab behind chat gb t. they are looking to tie text and image gen

terms of the feedback, towards the equity market, we think it is possible that we could see equities retestows we saw last year and certainly by punching country to the current market but we would really emphasize this point that if we don't see a more material earnings recession -- what could consider positioning portfolios weighing short risk by the equity market against paid risk. alix: when does that scenario happened and what is the trigger? deutsche bank talk about how we could see a run to 4500 in the forced -- first quarter and things fall out later. what will be the trigger point? sam: the trigger could occur little certain -- a little sooner than that. metrics are sending a risk offset what that is true from the timing perspective when we look at the risk premium model and the valuations perspective. at the same time, our risk premium implies that you have had too long a period of strong momentum such that there is a higher probability of a russell and with the mac -- i point to the next payrolls -- the market was faced with that .5 -- .6 month-to-month sequential wage growth that

i think it is quite possible that we will see a retest in the optimism will come to the real test whene see [indiscernible] paul: there is a lot of enthusiasm around the china reopening and the bombs in the road of getting out of covid zero policy notwithstanding but is that the opening trade starting to look a little tired to you? hebe: first of all, i agree with china's reopening being -- i am a bit cautious about what i see the markets price in right now. from my view i think it is a little too optimistic about what the economy could do. we know china is still struggling. putting that aside, if we turn the clock back to 2019, you are probably not that positive. one other factor that i am cautious about is one of the major issues for china's economy , the credit crisis and the manufacturing crisis -- they are not issues that can easily be fixed by the reopening. i think markets are too optimistic at this stage. paul: and how about commodities that trade around the china reopening? how are they looking to you at the moment in terms of price action? hebe: we can see the global price co

notwithstanding retesting lows, but that's a temptation, right somehow we're all going to wait for thatt. >> we'll talk to you both soon thank you both >>> coming up, the u.s. conference of mayors will be meeting with the president today to discuss the most pressing issues facing american cities. we'll speak to francis suarez. >> we pretty much always have some crypto conversation with you. i don't think we -- >> i think all of that has been a waste of time. and why you should waste my -- >> you think the whole thing -- >> going to zero and it's fake >> bitcoin is a hyped-up fraud it's a pet rock. it doesn't do anything it's a pet rock. >> bitcoin >> you can own it all you want -- >> i'm talking -- it's billions of dollars. >> i don't care about bitcoin. we should drop the subject >> the response from the miami mayor coming up. in the meantime, check out futures. we are higher on the s&p as well as the nasdaq. the dow looking to lose 45 at the open "squawk box" will be right back. >> announcer: this cnbc program is sponsored by baird. visit bairddifference.com. 92% still active? seems h

are we going to retest the october lows or not? >> i'm setting you up for the answer, which i don't think we are. i think we'll see a much better economic and fed set of conditions than when we were there in october it's that simple >> we've had since mid-october three higher lows. okay, technically speaking the market is trying to set itself up for some continued strength now, i know it was making lower highs since the beginning of last year, but this is a trend honestly since mid-october that feels like this is the type of day that would support say no to the market going back to those lows because we're getting around this 3,800 level back and forth and back and forth but we're not going get to 3,600 so easily a day like today proves that point. >> you're going to have a sell-off at the end of this year so basically where we are right now. seems to be kind of the prevailing thought, right? you have trouble in the first half, rally back in the second half, maybe end up break even, maybe higher depending on the target you're looki

these roughly 3500 we're looking in our work for a retest of the level an a potential downdraft to a level based upon a retracement it's still to the long siemd it's rare to see it do what it has done, citing it as something that's bullish we're actually more contrarian in terms of market breadth there's an indicator called the mcclellan oscillator it's quite overbought. it's at levels that have been associated with short term leaks with a lead time of leaks for the s&p 500. >> you're seeing a pullback in the broader stockmarket. i wonder,er er earlier in thw we talked about changes. any opinion your mind it could continue >> we saw a 14-day rally in tet terms of the rally it certainly has our attention, and we do have upside momentum, short and intermediate term. but even just with the las day and a half oar so, we see that as a reaction to short-term conditions that we think you can look at risk assets more broadly. we want to see how far bitcoin and others were traced you may see a retracement of this 14-day up move. it will look like a blip on the chart. we say that as because it

that information, but these athletes are in such such fine shape and they are usually tested and retested their vital signs. and, um all of their, you know, look, the chemistry of these guys is very, very well known because you don't get out on the field. if you're just not in good shape. if you're if there is something that is wrong with you, it would have been detected through all of these physicals. it's very, very rare, where somebody has some type of condition that has not turned up by the time they've been in the national football league for three years, and so if he had something, yeah, that was that that nobody knew he had that was undetected by the medical community. then you know that will come to light as well. but again, all of this is just down the road here and we can only hope and pray. uh that, uh he's all right, and that he's able to, uh, get through. get through this very, very difficult moment. jim gray . thank you very much. we're talking about damar hamlin, who is a safety? i was there playing in an nfl game. uh there was a clean hit, clean play. collapsed as cpr as b

it's raised eyebrows in the last few months retesting, lows. i think one of the big questions is whether this is apple-specific, tech-specific, or a sign of what's to come for broader markets? >> where do i start? firstly, look, nothing's changed in terms of the outlook in terms of gross stocks. 've still got interest rates on the rise with apple there are a number of issues firstly, investors have an eye on the quarterly results december was pretty bad because of supply chain disruptions. it's all about china we saw restrictionings there which hampered production. then there were worker disruptions as a result of pay dispute and workers walking out. still that factory has not fully come back to full production it's back but not 100% that's had a huge estimate i would estimate between between 5 to $8 billion revenue. apple is now going to see a decline in revenue for the december quarter if you look back in october, those estimate wars big jump for the holidays that's one issue and then you have china reopening, zerocovid to full-blown covid sp

another potential retest on the 4000 level on the s&p 500. where you are at 8:30 a.m. this morning? katie: big time, i was sitting on my couch, six point -- 6.65%. romaine: you have a couch in your office?

have both of these, s&p going up and fear going up sebastian thinks we're absolutely going to see a retestge if that floor doesn't hold, he wouldn't be surprised to see the s&p plunging around 3400 so if that doesn't hold, he thinks we're going much lower this is assuming something goes very wrong this week maybe a much hasher than expected fed meeting he's not sure whether the bottom will hold. if the s&p can bounce with the 200-day moving average, the purple one that bounces here, or even if it can stay above the 3800 line, which is right here, then rally for a couple of days, well, then, maybe we would be okay take that as a sign the rally is for real if that floor doesn't hold, he can see the market revisiting the fallo lows. if it makes a lower high rather than a high one, sebastian would be a buyer because he suspects that would be the bottom shoots up and go lower the bottom line, the chart is inter interpreted by mark sebastian. they can avoid a major decline feeling optimistic about the future and gets clobbers, he sees more downside watch the averages, watch the volatility index

we're getting close to retesting it again keep in mind, 3.48 to 3.50 is considered a big pivot by the technicians trading ten year it's gone from darling to future in a quick amount of time. we're on pace for a six-month low close. kelly. >> back to you >> so many countertrend movements here rick, thanks >> oil is closing for the day. what's it tend look like let's ask pippa stephens. >> prompting optimism around the demand rebound china the largest crude importer brokerage bvm noting the reopening will provide an immeasurable layer up at 74, 74 turning to nat gas, jumping 5% after dropping down 17% last week and hitting its lowest level in more than a year. ebw analytics noting the fundamental backdrop remains weak today's momentum is short sellers taking profits the energy sector is lower today. oil field services stocks are in the move title abyss to bliss, bank of america saying it's hard to avoid the oil services names anymore despite outperformance last year. an increase in spending, especially international drillers will boost investment in the services names. one is schlumberg

so in my mind there was a retest of the june low. i think that was a bear market low, and i don't know we're going to go straight up from here but i think we made a low from october 12th of last year andiest on your show saying that >> what about earnings before i let you go what do you expect here? >> as you know the consensus was the economy was going to be lousy the first half, i got $225 a share this year, which is above $215 for this year and as far as i know i think i'm just one of the few strategists looking for earnings to go up this year. >> we'll leave it there. appreciate it. so jason snipe, he also puts something interesting, this notion which a lot of people had, a lot of people were on the same side of the boat, tough first half, better second half maybe we had it reversed what do you think about that >> i think and it's part of the conversation we had earlier in terms of just inflationary numbers coming down and what earnings potentially will be and not being as bad as folks had anticipated. and i think carrie made thi

to me, i just think we're going to be retesting those october lows at some point probably in the second quarter >> it is amazing at how many people forget don't fight the fed at this point and you think powell's going to come out on wednesday, okay, it's fine the market's rally he doesn't want to see them rally on the back of that fomc meeting. >> people getting on david tepper, when he made those comments a month and a half ago, that was sort of a bell ringing for the bottom he didn't. maybe in the short-term, yes, but you're 100% right. if it's true when the fed is lowering rates that by being bearish, you're lowering the fed. if you're bullish, you're fighting the same federal reserve and they have made it clear that they don't want asset prices to go higher and are seemingly hellbent on getting unemployment lower >> to another potential concern for the markets. top general warning the u.s. could be at war with china in the next two years this according to a memo obtained by nbc news eamon javers has more. >> taxpayers get paid, pay american generals to do two things fight wars and p

i would rather -- i strongly believe we're going to retest the october low so i would not jump in on the fifth orth trading day of january. i would rather sit tight for a little bit, certainly i'm not saying rebalancing but new capital i think there's going to be an opportunity several weeks away. it could be this earnings season or heaven forbid a geopolitical event. i prefer it to be something more fundamental. maria: we'll leave it there. thanks very much. we appreciate your time on the word on wall street. john and ken, thank you, gentlemen. have a good weekend. we've got much more ahead this morning. coming up, how inflation is impacting american citizens. we have lydia hu live this morning at a grocery store in new york city with all of the details. lydia. >> reporter: good morning, maria. while president biden is taking a victory lap yesterday on economic policies, you're right, i'm in a grocery store checking out how much it's going of to cost me to feed my family, you don't want to miss this report. it's coming up after the break. maria: don't be miss a moment of it. you're

of our nation but congressional republicans have refused to consider my plan and they rejected my retestllion to secure the border and funds for 2,000 new asylum personnel. another -- asylum officers and personnel and 100 new immigration judges. so people don't have to wait years to get their claims adjudicated which they have a right to make a claim legally and the failure to pass and fund this comprehensive plan has increased the challenges that we're seeing. no one knows this better than the vice president. and to truly understand what's happening there it's important to step back and see the bigger picture here. you know, i know it's hard to see, but because our politics have been so divisive, i know it's getting much better but it's been so darned divisive it clouds the picture. i mean, it clouds the picture but let me explain what i'm going to do as clearly and plainly as i can. i know it's a complicated issue. i don't want to pretend there's anything easy about it. people come to america for a whole lot of different reasons. to seek new opportunity, in what is the strongest econom

but, these athletes are in such, such fine shape and they are usually tested and retested and, you knowall of their vital signs and all of their, you know, look, the chemistry of these guys is very, very well-known. you don't get out on the field if you are just not in good shape. if there is something that is wrong with you, it would have been detected through all of these physicals. it's very, very rare where somebody has some type of condition that has not turned up by the time they have been in the national football league for three years. and, so, if he had something that was -- that nobody knew he had that was undetected by the medical community, then, you know, that will come to light as well. >> steve: jim is absolutely right. and, in fact, it's not just with the annual physicals, my cardiologist here in new york is also a cardiologist for one of the national teams, i'm not going to say which one, but they check them out of at tryouts. they look at their medical history at combines and things like that so they know from the get-go what kind of shape somebody is in. and if they h

you don't think we retest any lows, do you? >> not this year, charles. the low is in. laugh when i hear we're going to head back down to the 3300 level. i just don't see it. i think we're seeing, we're making new higher lows. that is positive momentum for the market. i think make 3800. if we hit 3800 i'm taking everything i have, we're diving in at 3800 on s&p, charles. charles: i love you're always specific with this stuff, dade. bring you back real soon maybe after the fed meeting so we can calf up. thank you, my man. >> thanks, charles. charles: bring in academy security head of macro head of strategy, peter thir. welcome to the show. i want to bring up a piece you wrote, zerohedge. talking about the past, great darkness this is a great quote you put in there. all historians know the past is a great darkness and it is filled with echoes. that was "the handmaid's tale" the author, margaret at wood. how does this apply to the federal reserve? >> i want to apply the view they're chasing their own demons. eccles building headquarters they make the decisions i thought th

get constructive at some point but i don't think that people that are calling for a new bottom or retesting of the lows from last october are out over their skis at all by any choice of the matter. >> a lot of negativity i don't expect you to be any different. >> why are you looking at me, sara no, great to have you here, sara. >> thank you >> we keep hearing this what's priced in right now. a lot of us on this desk, and you say we haven't been negative we've been cautious. because what we see from past cycles here is the stock market has not really discounted i think the differential between where rates are. if you look at kind of what expectations are for that terminal rate, like you just talked about, kashkari being the outlier now on the hawkish side. he was the outlier on the dovish side a couple of years ago i think you can kind of take his opinion out. i don't think it's going to be -- he is going to be a voting member if you look at what happened today, the stock market really didn't want to rally if you look at how it rallied towards the end of the day after the minutes, that seeme

are we going to have a retest of the october lows again, that was a somewhat of a consensus as we come off the october lows that we're going to come back. but it's not only about consensus. it's not only about positioning. it is a lot about what we're talking about liquidity. and buy the dip was the thing when liquidity was the really easy and the opposite way right now. i don't think that's going to change on a dime. >> i get the point financial conditions being a lot different, jeff mills. at the same time, companies have been battening down the hatches for months we've seen a head count reduction at this point. real belt tightening happening isn't corporate america a little better prepared? there is a benefit to consensus, and that is the ability to prepare. >> yeah, but i think they're preparing because of the demand issues that are in front of them and i can that everybody was caught sort of flat-footed, a lot of these companies only focusing on growth and now all of the sudden they're forced to pivot away from that and more toward kind of being focused on margins and profitabilit

one of the things you want to see is even if you retest a low like we did in october, retesting the junee underlying internals actually looked better than what we saw in june and that's part of the process. i don't think we are out of the woods yet but i think we are going through that bottoming process. i think there are still hurdles like further deterioration in the labor market and we are getting a flavor of that and in turn, further ratcheting down up for forward estimates but a lot of the macro pressures are in the rearview mirror. tom: we've been here before. there is a raging debate if we have hit a low yet. and all of the months you've been at this, how do you determine the market bottom? >> would it be nice if i could say here are the three indicators and you can check all three boxes and you were off to the races. you often have significant pessimism in sentiment indicators and i would say that's with maybe lacking a bit with not just the mid june low but mid-october. i think the low was october 12 and i could be the low. we saw the washout, the kind of panic phase but it was

girl, who was 28 at the time, had been cleared of the murder, but a swap from jackie's body was retesteds later and showed billion to one match with his dna . a 21 year old man has his dna. a 21 year old man has been fine for throwing an egg towards charles during a walkabout in luton last month. harry may admitted to throwing the egg at westminster magistrates court earlier, but said he didn't intend for it to hit the monarch . mr. may said he hit the monarch. mr. may said he thought the king's visit a poor area in bad taste . footage area was in bad taste. footage has been of one of the two brits missing in eastern carrying out emergency just days before he disappeared. ukrainian police say british aid workers andrew backshall and christopher parr , backshall and christopher parr, as seen in the footage, left city of kramatorsk for soledar on friday morning. they were reported missing the next day. yesterday, russian claimed they'd found a body belonging to one of the two men, gb news is unable to verify those . and unable to verify those. and tributes continue to pour in for lisa mari

the protocol is then to take the faucet off line and either in 2018 was to flush the line and retest and now it's to replace it with a new fixture and make sure that the line is clear, and it's not just that there is sediment and then you retest. if it comes back clear, you have reimmediate ated the situation. so when we see results where you see, again some fought pictures coming back clean others coming back with a result that is 5 parts per billion that seems to strongly indicate that it's the fixtures themselves which are made of alloy metal which has lead. that gets on to the water. so really different stories about how the same elements can end up in water versus soil. >> thank you, thank you for sharing that. fick add on just a few thoughts. first, i think we need to acknowledge again from a parent perspective, if you feel there is lead at the school, and soil in the water, that's very concerning and all you want to know is you're on it and getting rid of it. secondly, i appreciate the explanation here and i think one of i want to be clear, in our efforts to rebuild trust, i s

a swab from jackie's body was retested decades later and showed a dna . murder of the 23 year old footballer in a nightclub on, boxing day, west midlands police say 18 year old regan anderson will appear. birmingham magistrates court. cody fisher was stabbed on the dance floor of the crane nightclub , digbeth, just before nightclub, digbeth, just before midnight on the 26th of december. two men have already appeared in court with his murder . a appeared in court with his murder. a builder who described himself as a psychopath with a conscience has been sentenced to two life terms in prison for murder of two escorts. mark brown was found guilty of murdering lee aware . and murdering lee aware. and alexandra morgan in 21. they went missing six months apart. the 41 year old killed the two women at a remote farm near st leonards in east sussex , meeting leonards in east sussex, meeting them through an escort website . them through an escort website. he will serve a minimum of nine years and continue to be paid to . lisa marie presley , only . lisa marie presl

but a swab from jackie's was retested.cades later and showed 1000000000 to 1 match with his dna . a 21 year old man with his dna. a 21 year old man has been fined for an egg towards king charles during a walkabout luton last month. harry admitted to throwing the 999 harry admitted to throwing the egg at westminster court earlier, but said he didn't intend for it to hit the monarch . mr. may said he thought the king's to a poor area was in bad taste and tribute . continue to taste and tribute. continue to pourin taste and tribute. continue to pour in for lisa marie presley. elvis presley's daughter , who's elvis presley's daughter, who's died at the age of 54. a warning. the following contains flashing images. it's understood the singer songwriter suffered a cardiac arrest at her home in los angeles yesterday. michael jackson's sister, latoya jackson, and the duchess of york have both a tribute . death comes have both a tribute. death comes just days after attended the golden globe awards . actor golden globe awards. actor

but a swab from jackie's body was retested. decades later, showing a dna match .ter, showing a dna match. a third man has been charged with the murder of a 23 year old footballer in a nightclub on boxing day. west midlands police say the 18 year old regan anderson will appear at birmingham. magistrate court later. cody fisher was stabbed on the dance floor of the crane nightclub in digbeth just before midnight on only 26th of december. two men have already appeared in court charged with his murder , a 21 year old man his murder, a 21 year old man has been fined for throwing an 999 has been fined for throwing an egg towards king charles during a walkabout in luton last month. harry may admitted to throwing the egg at westminster magistrates court earlier , but magistrates court earlier, but said he didn't intend for it to hit the monarch. mr. may said he thought the visit, the king's visits to poor area was in bad visits to a poor area was in bad taste . the court heard how a 15 taste. the court heard how a 15 year old girl died as a result of a speedboat. skipper

you say maybe a retest of 3600 walk us through what you're thinking >> well, we got a couple steps toto the, you know, couple of weeks up, but that was new money for the new year and historically as you get into the second half of january, that tends to have been committed already so there's a little bit of a gap i think we're moving into that we got a key test of 3900 today going on as we speak a minor test of 33,000 in the dow. if we pull back through there, very important test of the 3800 level in the s&p, if we get really weak as the month goes on and if you break that, then i think you may go back and test that area around 3600, 3500, as a critical test. and not to get too far ahead, if we develop enough weakness to do that, then we're going to test the very critical area down around 3200. but that's big steps away and i think we've got to take it one at a time. we'll watch at 3900. i think mike was very apt in pointing out that we have this debt ceiling crisis coming up. that's going to inhibit the issuance of new treasury bonds, which will allow some support. we saw that yester

for the phase one aimprovements to pipeline number 2 completed fact retested valves. one is seen in this photo 60 inch diameter involve instew third degree winter we hope. awarded contract for phase 1 b improvements to pipe lines 3 and 4 and contract for phase 2 achieve 90% design. this -- program project is under way to full construction. >> and that's my presentation i'm happy to take questions. >> thank you. i have vice president maxwell. >> thank you very much. . will we use the same contractor not ready for the generator rewind >> yes t is our intention at this time general electric is the contractor and they performed well up to the point. i think they had a lot of procure am challenged. they are aquiring different parts from all over the world more than 10 country parts are coming from. with the covid delays they struggled. they had their own staffing challenges. a change of the superintendent and other project staff people. also due to the covid challenges. we feel confident they are getting on track and very closely tracking using risk registers and -- for th

just -- what about the vicks you worry about how low volatility is and that we haven't had a final retest have had a terrific month i don't think anybody really wants to lose those gains. we only have four more trading days, so i think january is going to close really well and you're mentioning the vicks is very important. maybe in february, we get a little bit of a pullback, and i think that pullback will really be the true message on whether or not this market wants to go lower or whether or not we're going to reach a point where we can go higher. you know, the technicals, i can give you a bull story, and i can give you a bear story. in earnings, i can give you a bull story or a bear story one of those will have to surface at some point. >> the ten-year just will not cooperate. do you think that the ten-year knows something that either they -- they get up to maybe a higher, you know, fed funds rate, but they stop, or do they come back down by the end of the year why can't -- why is it so hard for the fed to convince the ten-year it should be higher >> people in the market are looking at

. >> our first guest this hour says he expects the s&p 500 to retest its low from 2022 in the first halfgist and global head of quantitative research at j.p. morgan. year end target of 4,200 we won't get there right away. >> that's right. we think that in the first part of the year we still continue to face a head wind on the earnings side margins we think were made under a heavy dose of pressure a backdrop where you have goods deflation, probably also soon enough service-based deflation. but at the same time, wage inflation remains quite sticky, i think that's a pretty bad combination for margins. i think expectations are simply still too high, even if you look at simply the 10 largest companies in the s&p 500 expectations for 10% earnings growth next year, this year, and 1% margin expansion. >> now it's this year. funny the way that works so what do you -- and the fed stays restricted so that means -- >> initially >> which means that multiples have no reason to expand. >> right >> lower margins, lower earnings, lower multiples, on what s&p total for the year, do you think? >> so we thi

but a swab jackie's body was retest a decade later and showed 1000000000 to 1 match with his dna .dna. and we'll bring you the sentencing as we get it . footage sentencing as we get it. footage has been released of one of the two brits carrying out emergency evacuations just days before he went missing in eastern ukraine. ukrainian police say , british ukrainian police say, british aid workers, andrew, back shore and christopher parry , who was and christopher parry, who was seen in the footage . if you're seen in the footage. if you're watching on television , left the watching on television, left the city of kramatorsk for soledar on friday morning. they were reported missing the next day yesterday. russian mercenary claimed they'd found a body belonging to one of the two men, gb news is unable to verify the and tributes continue to pour for . in lisa and tributes continue to pour for. in lisa marie and tributes continue to pour for . in lisa marie presley. for. in lisa marie presley. elvis presley daughter who died at the age of 54. a warning, the following contains flashing ima

but, you know, has he been retested recently? i mean, just that. mean, sorry, you just said that.andparents. when i think of my grandparents. yeah. shouldn't there be yeah. and shouldn't there be a compulsory certain compulsory test at certain ages for of there for drivers? of course there should. maybe 70, 80, 90. but the government's going to bring it in. no a tory government because need the great because they need the great vote. yeah. and it would be a vote. yeah. and it would be a vote loser. i'm just hanging on for oh no , i for driverless cars. oh no, i think they'll come to my rescue. we will you how long we we will tell you how long we drive train. but they're on drive this train. but they're on the aren't they? it's the way, aren't they? if it's not empty, sort it out. oh not empty, don't sort it out. oh yeah. those are around now. yeah 15, 14. freddie you want to talk about the scottish trans laws in the today? the law risks the sun today? the law risks being abused . yes, this is being abused. yes, this is another sort of clash point between the scottish government an