i'm tyler mathisen, welcome once again.are circling jpmorgan now calling for the fed to hike by 75 basis points, 3/4 of a percent tomorrow adding that the real surprise will be a 100 basis point, a full point. the economist behind that report is here, but bank of america's ethan harris who called for a more aggressive fed earlier this year says that 3/4 point hike won't happen tomorrow. he's also with us as we get set for tomorrow's big fed decision. kelly. >> looking very much forward to both of those discussions, tyler, thanks. hi, everybody, stocks little bit all over the place, mostly in a holding pattern ahead of tomorrow's fed decision at .m

look for safety, if you want to call it that copper, aluminum and steel are all in the red to tyler mathisen for a cnbc news update. >>> good afternoon, everyone here is your cnbc news update at this hour. the january 6th committee returning today for its third public hearing focusing on vice president mike pence and how former president donald trump put his life in danger >> donald trump turned the mob on him, a mob that was chanting hang mike pence, a mob that had built a hangman's gallows just outside the capitol. thanks in part to mike pence, our democracy withstood donald tr trump's scheme >> the full story behind the pressure campaign to get mike pence to overturn the 2020 election >>> the alleged buffalo mass shooter appeared in federal court a few hours ago. federal charges could carry the death penalty which new york state charges do not >>> and abbott's critical baby formula plant in michigan is closed again after a powerful storm flooded part of the plant. the company estimates production and distribution will be delayed for a few weeks until the damage is assessed and the facilit

and with that, we send it to tyler mathisen for a cnbc news update >> it's always good to be a bear companyu as president biden left the white house he was asked about two american veterans who reported missing after they went to ukraine to fight against russian invaiders. >> have you been briefed >> i have been briefed we don't know where they are but i want to reiterate, american cans should not be going to ukraine now say it again am amare -- americans should not be going to crew yan. >> and a man is in police custody after using a handgun in an alabama church last night police say a person at that event subdued the shooter until police arrived potentially saving lives and former trump advisor peter navarro has pled not guilty to contempt of congress charges he refuses to cooperate with the house's january 6th committee. he told the photographer, it's quote, a lovely day in the swamp. and the 50th anniversary of the watergate burglary that eventually brought down president richard nixon. we'll bring you back to the scene of the crime with two police officers. that's tonight with shep smi

hershey, kellogg and hor mel let's get to tyler mathisen. >> out gunned ukrainian forces try to holdty in ukraine, president zelenskyy is step issing up calls for more weapons to the west and rapid admittance to the european union. he says that would prove words about ukraine being part of the european family are not just words. the former acting attorney general will testify next wednesday in front of a january 6th congressional committee. he's to pressure the justice department into supporting his false claims of voter fraud. and in a post on his new social media platform, trump says his daughter, ivanka, had, in his words, checked out after the election and hadn't studied the results as closely as he did at least night's hearing, a clip from previous testimony was shown in which she said she accepted the determination the election had not been stolen tonight on the news, why builders are putting up new houses with no intention of selling them at 7:00 eastern. >> interesting thank you and we'll see you soon >>> ahead, as the nasdaq sinks, one market strategist is diving right in, l

at the high end, it's $6.43 in california now to tyler mathisen. >> good afternoon, everybody the house's6th committee has wrapped up the second public hear ogof the month. republican liz cheney set the stage, with aids to former president trump who said they had told him the 2020 election wasn't stolen. >> you will also hear testimony that president trump rejected the advice of his campaign experts on election night. and instead, followed the course recommended by an apparently eneebriated rudy giuliani who just claimed he won and insist the vote counting stop to falsely claim everything was fraudulent >> the white house says president biden was not a close contact, as it fined by the cdc of canadian prime minister justin trudeau, who has tested positive for covid it's his second infection. the two leaders did both attend the summet of the americas late last week. >>> and mick jagger has tested positive for covid, forcing the rolling stones to cancel their concert in amsterdam jagger, who's 78 and still can't get no satisfaction, performed last night in liverpool, part of their stones 50

i'm tyler mathisen here's what's ahead, inventory glut, target issuing a profit warning.shelves, the company isn't alone. other retailers facing the same challenge. >>> plus, the price of natural gas tripling over the past year. a short time ago the eia said demand and output

after they meet to discuss the design of a fall booster there's your news for mrna now to tyler mathisen surprise move, food and drug administration is set to take jewel e-cigarettes off the market says the order follows a two-year review from the company and could be announced as soon as today up almost 35%. and the owner of the washington commanders nfl team is denouncing a house committee that he tried to undermean accusations of employees subjected to sexual harassment he says the panel is conducting what he calls as politically charged show trial and j.p. morgan chase tells cnbc that it's a result of cyclical changes in the mortgage market but did not specifically confirm a bloomberig report that hundres are being laid off with hundreds moving to different divisions within the bank. >> tyler, thank you and we'll see you soon >>> still ahead homes, jobs and food, three key stocks on deck with results that could tell us about the health of the economy. one could move 10% how to position on all three that's next. what's going on? where's regina? hi, i'm ladonna. i invest in invesco qqq

emergency scenes the new stage of the probe could set the stage for a recall dom, back to you >> tyler mathisens. >>> still ahead on the show, the 2022 conference is under way and heavyweights revealing their best investing ideas we are going to hear from one of the largest female hedge fund managers out there, impactive capital's lauren taylor wolfe. and during june celebrating pride month featuring some of our cnbc teammates and contributors as well here is our clip desk manager on pride month. >>> my son opened up to me about his true identity when he was a freshman in high school. his ultimate goal is to be a commercial airline pilot and fly internationally. but there are 71 countries where being gay is a crime, and it's punishable by death in 13 of those countries. pride is a perfect time for allies to commit or recommit, to doing their part in achieving the best future for my son that's safe and fulfilling in any pa othwod fds rtf e rlheinhimself. if you used shipgo this whole thing wouldn't be a thing. yeah, dad! i don't want to deal with this. oh, you brought your luggage to the airport

first a news update with tyler mathisen. >> good morning, everyone.al reserve is promising congress it has what it calls an unconditional commitment to restoring price stability in its annual report on monetary policy released about 45 minutes ago, the fed says inflation has to be tamed to sustain a strong labor market the report is a preview of fed chair jerome powell's testimony to lawmakers next week. >>> also within the last hour, we learned that uk prime minister boris johnson is now in ukraine for an unannounced visit. it's his second trip there since the war began. johnson tweeted a photo of himself with president zell did saying it is good to be in kyiv again. and he's offering what's being called a major training program for ukrainian troops. >>> in what the kremlin is calling an extremely important address to a russian economic forum, vladimir putin said the era of america's global dominance is over and that its blitzkrieg of sanctions have failed he sees russia at forefront of, quote, a new global order. jon, back to you. >> thank you >>> m

let's get to tyler mathisen for a cnbc news update >>> president biden addresses the supreme court decision that overturned roe v wade this morning. within the last hour, he called today's decision a, quote, tragic error, pledging to fight any effort to prevent women from traveling out of state to terminate preg maens and calling for a federal law protecting abortion rights. >> this fall roe is on the ballot personal freedoms are on the ballot the right to privacy, liberty, equality, they're all on the ballot until then, i will do all in my power to protect a woman's right in states where they will face the consequences of today's decision >>> top republican in the senate has a very different reaction. in a statement, mitch mcconnell praised the court's ruling as, quote, courageous and correct saying it fixed a legal and moral error. donald trump some appointed three of the supreme court justices that overturned roe he said, quote, it brings everything back the states where it has always belonged >>> the house is voting now to approve the bipartisan gun legislation that passed the senate ye

. >>> good day i am tyler mathisen. here's the cnbc news update.members of the white supremacist gripe arrested in idaho over the weekend are now out on bail. the dozens of men were charged with conspiracy to riot at an lbgtq pride event before they were taken into custody. the members will make their initial court appearances over the coming weeks >>> brittney griner wnba team is meeting with state department officials to discuss her detention in russia. the meeting involves officials from a specialized office that advocates for hostages and wrongly detained americans the biden administration previously said they're working to bring griner home from russia after she was deined at a russian airport for possessing cannabis oil. >>> disney pixar upcoming lightyear movie won't be shown in 14 middle eastern and asian countries. disney declined to make cuts to the film that depicts a same sex couple that share a brief kiss which prompted several countries to ban the film. lightyear faces uncertain future in china, the world's largest movie market an off

. >>> and "power lunch" does begin, kelly, thank you very much i'm tyler mathisen, welcome to a busy thursday on "power lunch. we have a sell-off on wall street amid an aggressive inflation fight if it is not just starting, it is really getting some power behind it now. the risk of recession, it is rising, say most people. stocks falling, the dow breaking below 30,000, the lowest level in more than a year. so what is ahead for equities, for bonds and e market as it undergoes this great re-set with new opportunities potentially. we have a big hour ahead as we track this continuing sell-off, kelly. >> thank you and just to your point, let's look at where we're session lows right now. the dow is below 29,900, we're down 788 right now and we're 19 -- these are the in blue the percentages that each of the major averages is off the recent all-time highs the dow is down 19% and ths&p is down 24% and the nasdaq is down almost 35%. it is trading at 10,600 and change it is lowest level since september of 2020. now the blue chip names are getting hit by the recession concerns home zee pot, inte

. >>> time now for a news update let's get to tyler mathisen. >> thank you very much here's what's happeningion is still running hot i probably don't have to tell you that, but there was at least a modicum of good news in this morning's producer price index report headline inflation was up .8% last month that matched expectations, and the so-called core rate figured without including food and energy, was up a little less than expected. that's often a predictor of the future still, the producer prices were up get this, 10.8% in may compared with a year ago. >> fedex is delivering in a big way for investors today. the stock surging after the company increased its quarterly dividend to $1.10 per share from 75 cents that's a 53% increase. fedex also said it would air shareholder returns as an additional factor in determining executive compensation spiritairlines says it is talking with jetblue about jetblue's recently sweetened $3.4 billion takeover offer. spirit has been rebuffing jetblue's overtures while moving ahead with its plans to merge with the parent of frontier airlines jetblue's most

tyler mathisen is off today, i'm kelly evans. here's what's ahead, a power player in real estate as ceos push to get workers back into the office, don peebls is here to discuss the headwinds facing commercial real estate and the development taking place in miami. city people are now calling wall street south. >>> plus, exxon's ceo darren wood says the clean energy transition is to blame for high oil prices is he right? we will take a close look at energy policy, try to find possible solutions and figure out what it's all going to mean for your utility bills first, let's get a quick check on the markets where the dow is near session lows down almost 300 points right now after being up 400 earlier today it's the outperformer down 8/10, s&p is down 1.3, nasdaq down 2.25 energy is the best performing sector led higher by names like hess, marathon, and williams we also have qualcomm spiking midday on an analysts' tweet the tweet said apple is likely to keep using qualcomm 5g modem chips. qualcomm shares are up 5.5% right now. the mark

i'm tyler mathisen, welcome once again. here's what's ahead, the hawks are circling jpmorgan now calling for the fed to hike by 75 basis points, 3/4 of a percent tomorrow adding that the real surprise will be a 100 basis point, a full point. the economist behind that report is here, but bank of america's ethan harris who called for a more aggressive fed earlier this year says that 3/4 point hike won't happen tomorrow. he's also with us as we get set for tomorrow's big fed decision. kelly. >> looking very much forward to both of those discussions, tyler, thanks. hi, everybody, stocks little bit all over the place, mostly in a holding pattern ahead of tomorrow's fed decision at 2:00 p.m. eastern. the dow is down 250. we're down 194 we had been up as much as 170. the s&p's down 60 to 3733. the nasdaq hanging on to some green today, but it's back to 10820 as the fallout from the deep selloffs the past week continues. a lot of the action today is in the treasury market. the ten-year yield has reversed higher really climbing this

i'm tyler mathisen here's what's ahead, inventory glut, target issuing a profit warning. again, the issue too much stuff on the shelves, the company isn't alone. other retailers facing the same challenge. >>> plus, the price of natural gas tripling over the past year. a short time ago the eia said demand and output will hit a record this year we'll speak to an industry power player first, contessa brewer in today for kelly. >> thank you stocks are erasing early losses, the dow had been down 274 points at the low now take a look, we have the dow hanging onto the green up a quarter percentage point, s&p 500 up the same, and the nasdaq composite up a third of a percentage point energy the best performing sector today up about 2% it's extending its 60% gain for the year, oil prices pulling back after trading at nearly 120 bucks a barrel, something i never thought i'd say, and exxon mobil is back above $100 a share for the first time since 2014, tyler. >> contessa, that profit warning from target casting a spell over the retail sector. target, walmart, costco all trading lower