sara eisen joins us from d.c. to wrap up the highlights from her interview.i, good morning, carl from the imf where there is no shortage of issues and challenges to tackle here relating to the global economy for these finance chiefs and global central bankers gathered here for meetings today from the bank failures in the u.s. to inflation, to higher interest rates to war in ukraine. i spoke to the managing director of the imf, kristalina georgieva, started with asking her about the inflation numbers we got out of the u.s. this morning, more evidence that that high inflation rate is coming down here what's she said about it. >> you see, what we should expect to see, that the action of the fed is going to pay off, and even more importantly, it has been a synchronized action of central banks all over the world, that has given us this trajectory in the right direction, inflation going down, but core inflation is still high, and it is sticky so the fed will have to persist in pushing it down why do we need that? without price stability we don't have a sound founda

look back on a recent restaurant trade, should we stay for a cup of coffee oriel check please i'm sara eisene desk tonight mike khouw, carter worth and brian stutland. in equities, as you might expect, tesla, apple, jpm, morgan, boeing and ali baba, we're going to touch more on tesla. the qs, financials, bonds, and brazil we usually trade the tlt, but tonight using something new for us and we'll show you what later on let's get to our main focus today. the retail sales data, piling onto the rooent indicators the consumer is finally getting tapped out the figure marking the weakest month over month reading since november, all of this recently reflected in the retail etf, the xrt. carter, show us where we are right now. >> the beauty of the xrt, it's equal weighted, 89 stocks, and it's got the big ones like walmart, amazon and target because it's equal weight you don't have the influence of one or two names, it's 89 stocks, 2.5 trillion, same as apple. it is literally flirting with 52 week lows. here's a broad swath of the consumer depicted in a pure sense, right, amazon's not too much of an i

i'm sara eisen with carl quintanilla.live as always from post nine of the new york stock exchange david faber has the morning off. >>> again, take a look at stocks under pressure this morning after the holiday shortened week and after the stock market snapped a three-week win streak on the back of rough data. s&p down 0.75% tech under pressure, nasdaq down 1.3% here are three movers we're watching right now starting with tesla slashing prices again. the fifth cut in the u.s. this year alone separately the company is announcing plans to build a battery factory in shanghai. more on tesla later this hour. >>> a report out over the weekend that exxonmobil has held informal talks to acquire pioneer natural resources, giving that stock a pretty nice pop here in early trading up more than 7.5% >>> we'll end with block, kbw downgrades, citing a growing number of risks they believe, quote, will keep investors out of the name over the next year >>> wholesale trade data coming out a couple moments ago we get to rick santelli. good m

i'm carl quintanilla with sara eisen here on the floor of the new york stock exchange. buy some banks >> speaking of banks, an exclusive interview with the ceo

i'm sara eisen with carl quintanilla.ive from post nine at the new york stock exchange. david has the morning off. take a look at stocks because we're gaining steam after an up month, up quarter, up week last week the s&p 500 mostly higher, up a little more than.1%. energy leading, on the surprise opec cut which is fueling a big rally in oil prices. materials, health care, and financials all strong er today tech under a little pressure we're 30 minutes into the trading session. here's three big movers we're watching oil prices in rally mode after opec plus announced it's slashing output by 1.16 million barrels a day. saudi arabia calling the move a precautionary measure targeted toward stabilizing the oil market mcdonald's on the move temporary closing the u.s. offices monday through wednesday this week as it plans to inform corporates about layoffs and the deal news of the morning endeavor confirming plans to merge ufc with wwe scott wapner will bring us the latest from his exclusive interview with vince mcmahon later th

. ♪ >>> good wednesday morning welcome to another hour here on "squawk on the street" i'm sara eisen always from post nine at the new york stock exchange david faber has the morning off. it's bonds rallying today after a series of weak data points some strength in the dow up 115. tech is down about half a percent. looking at the nasdaq, 30 minutes into the trading session. three movers we're watching right now. starting with meta, argus updating from buy to hold. still one of the best performers on the s&p 500 year to date up more than 70%. first citizen bank shares to buy from sell. that stock has been on a roll since the deal with silicone valley bank. and cigna moves to strong buys with the valuation reset and the improving regulatory backdrop for health care. >>> let's get to services this morning, back to rick santelli rick >> there's some surprises here these are march numbers and unlike s&p global, there aren't mid month reads to take away and those readings on the final global were some of the best since june of last year. on services, 51.2, and that follows 55.1, the weakest

i'm carl quintanilla with sara eisen live on the floor of the new york stock exchange.roeflz as facebook parent soars after crushing earnings. the year of efficiency starts to pay off. >>> hasbro with us, boosting that stock big time, his take on the coming transformer film as well. >>> similar stor

i'm carl quintanilla with sara eisen here on the floor of the new york stock exchange. bill nygren, why he is trimming netflix and using the cash to buy some banks >> speaking of banks, an exclusive interview with the ceo of pnc, deposits actually rising there since last quarter he joins us live right here at the new york stock exchange. >> and finally, tesla cutting prices in the united states for the sixth time this year, ahead of earnings after the markets close. morgan stanley's adam jonah says that deflationary trend will continue we'll talk about it. >> 90 minutes into the trading day, and stocks are in the red but they're off their lows we have seen a little bit of recovery in the last few moments. earnings from morgan stanley and netflix weighing on investor sentiment, although morgan stanley did turn around and is now positive that's where we'll begin today the company's ceo, james korman, saying on his conference call that the federal reserve is not done with rate hikes and we could see one or even two more he certainly doesn't expect rate cuts this year treas

i'm carl quintanilla and sara eisen.a, bernstein remaining bearish on tesla after what he calls a meaningful shift in rhetoric. >>> plus, citi's nathan sheets pushing back the timeline for recession in the u.s he joins us to

i'm carl quintanilla along with sara eisen jpmorgan's head of global research, joyce chang with us. >ew york stock exchange. we'll speak with fpeter orzag. >>> banks getting hit on the back of their results. m&

i'm sara eisen with carl quintanilla. live on the floor of the new york stock exchange.exclusive with the ceo of charles schwab, his first since the company reported results, 11% in profits and pause in the pieback. >>> fed speak pointing to another 25-basis-point hike rate in may. >>> and kkr searching for opportunity overseas we'll hear more why they say a nuanced approach is needed while picking international equities and will name their favorite market. > top of

. >>> good wednesday morning and welcome to another hour of "squawk on the street" i'm sara eisen hereth carl quintanilla and david faber from post nine of the new york stock exchange. only up .2% for the s&p. the nasdaq is up a full percent, thank you microsoft. amd, nvidia, micron at the top of the list, keep in mind it dom gs off yesterday's big selloff especially in the nasdaq down 2% for the week still down 1.35% on the s&p 500. 30 minutes into the trading session. watching chipotle. store sales rising 10% from last year, despite price hikes. hilton narrowly in the green the company raising guidance with revenue per available room up 30% from last year. regulators in the uk blocking microsoft's purchase of activision blizzard. shares falling hard on the news. down about 9%. microsoft was already up on earnings, david. but i don't know, maybe investors see this as a positive as well, they won't have to spend $70 billion if this deal doesn't go through. >> i don't think they see it as a positive i think there was a positive view of microsoft's ability to grow with the acquisition of

i'm carl quintanilla with sara eisen on the new york stock exchange jpmorgan's chief economist, we'llion to the fed's move, echoing atlanta fed saying one more and done. >>> the cf

i'm sara eisen with carl quintanilla. live for you on the floor of the new york stock exchange.der >>> b of a's head of commodity francisco blanch and jason trennert >>> right now, markets today, pretty light volume as we are waiting for thsl

i'm sara eisen with carl quintanilla. setting the agenda for us today, everyone is talking about the surprise cut out of opec ubs managing director has a bull case on commodities. oil's up almost 6%. >>> is the upcoming travel season about to get grounded booking holdings ceo will join us. >>> unusually strong auto sales across the board hyundai with us. >>> more than a million barrels a day cut from opec. brian sullivan talks about what it means for the commodities, for the fed and whether this was expected or a surprise >> well, carl, hi. number one, it was a complete surprise that's the thing -- i thought this was going to be a four-day work week with good friday huh-uh opec kept us on our toes working all day yesterday. came out of the blue and follows up on the 2 million a barrel day cut they made last october when we throw these numbers out, 2 million here, 1.6 million there, remember those are not probably the physical barrels coming off the market. can't make that point enough there's a lot of fuzzy math with opec

>>> good tuesday morning i'm sara eisen with carl quintanilla. setting the agenda for us today, jpmorgan strategist warning it is the calm before the storm for stocks are they right we'll have newburgher with us. >>> the plunge in nat gas and this recent revival in crude. >>> hertz ceo with the push into evs and summer travel demand can they keep up >>> meanwhile, another busy session to start the week. 4111 s&p, got a bounce out of jolts, which came unexpected implications from the labor market and what the fmoc will do lost some ground as we settled dow has down to the tune of 0.50%. >> it goes to the 9 million level instead of the 10 million level. still plenty of openings out there but that's the lowest in a few years. but that will be taken as good news on those fighting inflation. wage gains were a worry. let's start with calls out of wall street. jpmorgan strategist warning about the calm before the storm. saying investors should expect a reversal in risk sentiment and the market retesting last year's low over the coming months the money o

i'm sara eisen with carl quintanilla. live for you on the floor of the new york stock exchange. setting the agenda today former federal reserve vice chair alan blinder >>> b of a's head of commodity francisco blanch and jason trennert >>> right now, markets today, pretty light volume as we are waiting for the slew of earnings headed our way almost 180 s&p companies later in the week. not to mention some in data that toward the back half of the week that will be important for a fed decision that is seven trading sessions away. >> we'll get gdp first look, second quarter we'll get the pce, numbers on inflation. the market is baked in that the fed is going to raise interest rates in may even if gdp is soft, atlanta fed's at more than 2%. the consensus is around 2% economic growth. that's not something that would necessarily sway the fed the biggest question is going to be going into next week's meeting, what sort of tone they take will they back up the market's view they're one more and done will they be cautious about bank lending? we're in the early innings. >> in the meantime, s

i'm carl quintanilla and sara eisen. setting the agenda, bernstein remaining bearish on tesla after what he calls a meaningful shift in rhetoric. >>> plus, citi's nathan sheets pushing back the timeline for recession in the u.s he joins us to tell us why. >>> regional banks, an exclusive with ceo of synovus, seeing deposits rise in this quarter. >>> we'll start with stocks. recovering s&p 500 lower by 0.3%. the nasdaq down 0.4% we were down almost 200 points at the last of the last hour renewed focus on the slowdown. philly fed posting eighth straight lowest month. jobless claims rising more than expected continuing claims hit the highest level since november 2021 existing home sales weaker, now down 22% from last year. leading indicators falling more than 1%. then spotty big cap earnings from the likes of tesla and netflix and the fed's picture for may meeting. gets a little murkier. fed speakers continue to say, more hikes are ahead let's bring in cnbc senior markets commentator mike santoli. they're more worried about

i'm carl quintanilla with sara eisen live on the floor of the new york stock exchange. setting the agenda today, david roeflz as facebook parent soars after crushing earnings. the year of efficiency starts to pay off. >>> hasbro with us, boosting that stock big time, his take on the coming transformer film as well. >>> similar story for tele doc, trying to climb back, up 9% for the year ceo will be joining us later on this hour. >> kicking off with stocks this hour going strong today we're breaking a losing streak in and the s&p is up 0.8%. it is broad led by communication services, thanks to meta you see the rally in multiple sectors. the nasdaq is up 1.25% topping the tape, an uneven response to earnings mega cap stocks lifting the market in the last few sessions but for other names, the street not necessarily to believe that the positive second half narrative being pitched on the earnings call will come to fruition that trend is what cnbc senior markets commentator mike santoli is looking at. it does feel broadly more positive than we expected going in. >> i think it

>>> good wednesday morning i'm carl quintanilla with sara eisen live on the floor of the new york stock exchange. on the agenda today, hilton ceo christopher nassetta is with us. big earnings beat and they hiked their full-year guidance why that stock is signaling continued strong travel demand >> cme grew terry duffy also with us. another earnings beat there on the top and bottom lines, plus his take on a broken nickel market among other things. >> later on, vincent reinhart is with us. his warning on persistent inflation as these five-year credit default swaps hit a new decade high, as we are now on watch for a vote in the house regarding this debt bill >> whether he does the vote or not, whether he has the votes or not, that certainly is front and center julian emanuel saying that he thinks it's part of the sell-off we've seen in stocks lately. and as far as that goes, the s&p 500 has been up higher this morning and has been lower this morning. it's unchanged the nasdaq stays stronger, thanks in part to microsoft and a rally in big cap tech, nvidia, amd, they're surging today amazon

i'm sara eisen with carl quintanilla. live on the floor of the new york stock exchange. setting the agenda today, an exclusive with the ceo of charles schwab, his first since the company reported results, 11% in profits and pause in the pieback. >>> fed speak pointing to another 25-basis-point hike rate in may. >>> and kkr searching for opportunity overseas we'll hear more why they say a nuanced approach is needed while picking international equities and will name their favorite market. > top of the tape, hawkishness from fed, multiple bank failures not enough to change the fed's tone when it comes to another rate hike in may, reiterating the longer for higher mantra we're getting incrementally from bostic and harken in the last 24 hours. >> i haven't heard any of them say we need to pause. >> goolsbee is look, do it - >> caution but they still have an inflation problem richard fisher, he's always been worried about inflation, but he articulated really well, the former dallas fed president told us last hour, their credibility is on the line there's also still inflationar

i'm carl quintanilla with sara eisen. setting the agenda today, the bets that another rate hike is ahead continue to rise following the jobs number on friday. will this week's inflation data keep the hawkish narrative alive? we'll talk to pimco's head u.s. economist. >>> tesla cuts prices once again as the stock continues to fall and its market share starts to shrink former ford ceo mark fields on whether tesla still thinks it's the ev market benchmark. >>> and ian bremmer, how china is continuing to try to win the world over from saudi arabia, south america and, of course, coming on the heels of macron's visit to beijing >> a lot of chatter about the geopolitical events over the weekend. >>> the dow is doing the best of the three major averages, down only 43 thanks to strength in groups like materials and industrials and energy at the top of the market today. along with financials, which did just go positive the s&p is down 0.60, being weighed down by tech, communication services and consumer discretionary with the nasda

i'm carl quintanilla with sara eisen on the new york stock exchange jpmorgan's chief economist, we'll get his reaction to the fed's move, echoing atlanta fed saying one more and done. >>> the cfo of wells fargo on results and the resumption of buyback and taking on the banking sector and why he says the company's work is not done when it comes to managing risk. >>> the treasury's response to the strength of the financial system deputy secretary joins us exclusively. >>> the bank earnings enthusiasm that carried stocks higher in the early trading fading with stocks close to the lows of the session. though, financials are an outlier, they're up today. jpmorgan and citi holding the gains. jp leading the dow with a big move higher and wells fargo have turned negative on the session pnc trading at lowest levels since december 2020. that conference call kicking off right now, adding to the losses which was down 20 pfrs in march. we'll bring you the headlines as we get them, but pnc, the message from the big banks and pnc is one of the biggest of the regionals is nothing alarming on deposit

the economy and i think that's kind of the message and i felt like and mentioned it earlier, when sara eisen asked barkin that question whether you're now in the soft landing camp or still think you can get a soft landing, he said we're focused on getting inflation down. >> it speaks to what they're willing to sacrifice in order to get inflation down in their own forecast they have unemployment going all the way up from 3.5% today to 4.6% by the end of the year. that means that in theory if we take them for their word they would tolerate a lot of labor market weakness before they would even act to ease policy. so that tells you they think they still need to see a weaker labor market they still need to sea weaker demand was the comment from barkin, less demand so watch retail sales closely before they even think about easing policy >> to me the market reaction, the price action from 2:00 forward was so telling, you see the market look like it was going to have a bit of a rally and started to rally i get it market thinks that, okay, the fed is not going -- who cares what they say? they won't b

i'm carl quintanilla along with sara eisen jpmorgan's head of global research, joyce chang with us. >>> u.s. house speaker kevin mccarthy pitching spending cuts to wall street right here at the new york stock exchange. we'll speak with fpeter orzag. >>> banks getting hit on the back of their results. m&b, charles schwab in the green. >>> stocks losing some early morning gains. we're lower across the board, nothing extreme. treasury also selling off and the dollar is rising the s&p 500, little change topping the tape for us, bullish numbers for investors to digest. bank of america saying the earnings picture it looking good 90% of companies have beat on earnings, the highest post-one week surprise statistic in at least 20 years yes, it is very early into earnings season. the percentage of up days of the past 20 reaching 65%, the highest since november 2021. >>> manufacturing activity in the new york region turned positive for the first time since november that new york fed manufacturing reports also showing lower prices both paid and expected, which is a good sign on the disinflation s

>>> good wednesday morning i'm sara eisen with carl quintanilla. we are live for you at the new york stock exchange. setting the agenda for us today, canyon partners founder and ceo josh friedman with us here on set saying the worst of the banking crisis is not behind us yet. >> plus, barry biffle, his outlook for summer travel demand and we are all over the sell-off here in the markets right now. take a look. s&p 500 down 0.6%, not extreme, but utilities are leading. up 2%. health care and consumer staples, so definitely defensive. the cyclicals are selling off for the second day in a row and technology under pressure. consumer discretionary down 2%, as bonds rally off the back of a few data misses. we'll start with the rally we're seeing in the bond market. the ten-year yield, breaking that key 3.3 level we're below that right now the latest employment data coming in lighter than expected, as pay growth inches lower ism services also coming in below consensus. in fact, services prices paid, an inflation index, lowest level since 2020 and then you

. >>> good tuesday morning i'm sara eisen with carl quintanilla.genda for us today, jpmorgan strategist warning it is the calm before the storm for stocks are they right we'll have newburgher with us. >>> the plunge in nat gas and this recent revival in crude. >>> hertz ceo with the push into evs and summer travel demand can they keep up >>> meanwhile, another busy session to start the

i'm sara eisen with carl quintanilla and david faber, live for you as always from post nine at the newge take a look at stocks. higher here in the early action. at least for the dow up 29 points s&p 500 unchanged. the nasdaq lags down a quarter of 1%. there's strength in groups like materials, health care, financials, industrials, staples, real estate and energy all higher, but tech is dragging information technology and consumer discretionary worst performing sectors ahead of the cpi report, inflation report, tomorrow 30 minutes into the trading session. three big movers we're watching right now. shares of newmont under pressure off the lows, raising its bid for newcrest mining to $19.5 billion in what would be the largest ever m&a deal in the gold mining industry we'll watch that story >>> bitcoin popping above 30k since june of last year. names like coinbase and micro strategy are following suit. regional bank new york community bank corps upgrade to buy by jefferies, saying there's been a dramatic improvement in the bank liquidity profile after svb and shares up, up 1.5% big headli

and we're definitely seeing it in that business >> tlooes view straws's chip bergh talking with sara eisenhe challenges facing his business. shares on pace for their worst day since march 2020 profits beat but it was down from a year ago. they are reaffirming a cautious outlook. 15.10 this morning, guys, will be the low of the year we look forward to hearing what he tells jim later on tonight. >> they're talking about inventories, working that down, impacting margins. we've heard that from a lot of retailers. >>> bitcoin on pace to end a bit lower. it's gained 25% over the last month. we are tracking the action mckenzie >> reporter: melissa, bitcoin and ether lower. bitcoin off more than 1% ether off by more than 2% ahead of friday's job report in the last year it has been macro economic data. the concern is that any signs of inflation in this jobs data could translate into more aggressive rate hikes by the fed in order to temper inflation but as we close in on one month since the collapse of silicon valley bank, it's been a really incredible run in the crypto market overall bitcoin and et

sara eisen has the morning off decent action after an eventful night last night in the wake of the amazons as we go into the weekend and fresh data crossing the tape let's get to rick santelli. >> yes our april final read, carl, on university of michigan sentiment, which means our mid-month read gets tossed mid month three for headline, 63.5, remains at 63.5. that's the best level since february look at current conditions, it moves from 68.6 down to 68.2 so 68.2. we lose 0.4 there, but it's still the best level since february of this year as well. and if we look at expectations, 60.5 versus 60.4 it improves by 0.1 the best since february. now let's get to the meat of it on the inflation remember, these aren't necessarily quantitative, they're more of a respondent survey on the one-year inflation 4.6. it stays at its mid-month read the problem is that 4.6 it's not lower, so we have lower, lower, lower, lower in january, then popped a little in february and then lower in march and this final read moves from 3.6 in the previous month you can see it's sticky and 5 to 10-year inflation actuall

i'm sara eisen with carl quintanilla and david faber, live for you at post nine of the new york stock at stocks under a little pressure here this morning down half a percent. very busy day of earnings, very strong rally in the bond market where we're seeing yields moving south. 30 minutes into the trading session. three big movers we are watching right now. it's earnings related. we'll start with ups falling after reporting a miss on earnings the ceo citing a deceleration in u.s. retail sales resulting in lower than anticipated volumes that stock down 9% 3m top estimates but the company announces it would cut around 6,000 positions globally in an effort to focus on high growth markets such as automotive, electrification and home improvement. that stock is up a bit and mcdonald's reporting a beat, same-store sales rising in the u.s. and abroad. shares hit a new high but have bo backed after after the conference call. we'll have an interview with mcdonald's ceo in a few minutes during this hour >>> meantime been a busy morning for ecodata. philly fed with a bit of disappointment and con

i'm sara eisen with carl quintanilla and david faber.m post nine of the new york stock engs exchange the s&p 500 up .2. dow up 115 tech lag, nasdaq unchanged after consumer prices come out up 5% from last year, which is a moderation from what we have seen at the 6% level only .1% increase in the month of march cooler cpi is better news for stocks in the economy. 30 minutes into the session. three movers, microsoft, goldman sachs calling it a top pick this morning. web bush raising the price target to 315 to 290 emerson electric slumping. in an effort to boost the company's automation capabilities making a bid to buy another company. >>> mcdonald's up in 12 of the last 13 sessions hitting fresh all time highs this week that's the environment we are in, a slowing economy. want to dive into the cpi report, which was the big one today. the .1% headline month over month that was less than expected, that's good news but core if you strip out food and energy was up .4%. again, improvement but still speaks to the fact that we have an inflation p

. >>> dow component coca-cola just reporting, sara eisen joins us with the numbers you set the alarmis is my quarterly early wake-up, joe, to report on coca-cola. it's a beat on the quarter, $0.68 earnings per share revenues come in a little better at 11 billion. expectation was around 10.8 billion organic revenue growth important with these consumer companies. it shows what the underlying strength, it was high. it's 12%, and that was more than expected around 10%. if you did beneath the numbers, the story is pricing they're getting double-digit increases in pricing, and that's really driving the growth. but i will say a surprise on the upside for coca-cola here is that they're seeing volume growth as well volume's up 3%, 11% growth on pricing. so higher prices, but it's not totally turning off the consumer because they're seeing growth there in volumes, at least globally in north america, volumes were flat and pricing was up double-digits, really strong pricing in europe, which is driving the gains there. i just got off the phone with james quincy the ceo of coca-cola. here's how he