the u.s. computer industry. the center for strategic and international studies hosted the discussion. it runs 50 minutes. >> good morning everyone and the online audience. we are fortunate today at csis to have don graves. he has years of experience in the government and private sector. he was executive vice president and head of corporate responsibility community relations at key bank and at the obama biden administration, counselor and economic -- domestic and economic quality advisor for vice president biden and executive director on the council of jobs and competitiveness and deputy desisted -- assistance. a long experience of commercial activity in washington. we are going to talk about all of the challenges that comments and the united states face today in the world and things have changed a lot where congress has a central world in economic policy and national security and international relations. please. [applause] >> good morning everyone. thank you so much for that kind introduction

the u.s. efforts to increase international trade. how national security is related to technology and promoting america's private sector abroad. this is a 45 minute discussion. >> good morning to everyone. good morning to all of those on the online audience. we are very fortunate today at csis to have deputy commerce secretary don graves from the department of commerce. don is the 19th deputy secretary and he has experience here in the private secretary. he was a counselor of president biden during the 2020 campaign. before that he was executive vice president and had corporate response responsibilities -- counselor of the make it -- counselor of domestic and economic policy. serving on the council of presidential jobs. a long experience of commercial activity in washington. today we are going to talk about all the challenges that commerce and the united states faced today in the world. things have changed a lot where congress has a central role in a central role in way it hasn't before with ec

we stood up the u.s. eu trade council, we deepened our commitments to the quad the present has launched an ambitious 14 country framework for prosperity. and announced our intention to forge america partnership for economic prosperity. we also continue to promote trade and investment between the u.s. and africa the at prosper africa, the president's advisory council doing business in africa, u.s. africa leaders summit which president biden host in december. across these efforts we reject the notion that attracting private sector investment requires an endless to the bottom. harming american workers and american businesses alike. instead, the new economic alliances about developing shared rules of the road and aligning to high standards and building our share capabilities. we are also allowing joint partnerships between businesses and government to support joint research and knowledgear sharin, upscaling and workforce to velma come innovation ecosystems and promote investments that create export opportunit

this week the u.s. state department said she was likely killed by israeli military gunfire, but the u.s. found her death was the result of tragic circumstances not an intentional killing. the u.s. is being accused of helping israel whitewash her death before biden's visit. all that and more, coming up. welcome to democracy now!, democracynow.org, the war and peace report. i'm amy goodman. japan's former prime minister shinzo abe has been shot and killed by an assassin wielding what appeared to be a homemade gun stop he was campaigning for a parliamentary election friday morning and essential japan when two shots rang out. images of the attacks aftermath shows security officials tackling a man in a gray t-shirt . they later named the suspect, former member of japan's maritime self-defense force. footage from the scene shows what appears to be an improvised double barrel gun. japan's strict gun control laws prevent almost everyone from possessing guns. in 2021, there were 10 shooting incidents in japan, j

the u.s. international trade. he also responded to questions on legislations expected on the senate floor today that provides grants to the u.s. computer chip industry. the center for strategic and international studies hosted this discussion. it runs about 50 minutes. deputy commerce secretary tom graves spoke about the biden administration's efforts to strengthen u.s. international trade. he responded to questions on legislation expected on the senate floor today that provides grants to the u.s. computer industry. the center for strategic and international studies hosted the discussion. it runs 50 minutes. >> good morning everyone and the online audience. we are fortunate today at csis to have don graves. he has years of experience in the government and private sector. he was executive vice president and head of corporate responsibility community relations at key bank and at the obama biden administration, counselor and economic -- domestic and economic quality advisor for vice president bid

u.s. capitol. cnn has exclusively learned that federal prosecutors are preparing for a legal battle. they will try to force former white house officials to testify about their conversations with donald trump around january 6 last year. this is the clearest sign yet that investigators are focussing on the former president 's conduct as he tries to prevent the transfer of power. at issue are claims of executive privilege that the trump camp is expected to make to shield information from the grand jury. we're also learning that the committee plans to share at least 20 transcripts with the u.s. justice department. the panel is also focusing on members of trump's inner circle which include former treasury seblgts secretary and former acting chief of staff. and they seem particularly interested in conversations of invok in invoking the 25th amendment which could have led to donald trump being removed from office. ryan nobles has the details. >> reporter: the committee is zeroing in on donald tru

the u.s.omising a new era of engagement with the middle east. joe biden is making his first trip to the region since becoming president and he'll have many issues to deal with over the next four days. biden's first stop is israel, where he's meeting acting prime minister yair lapid, and former leader benjamin netanyahu. he'll then head to the occupied west bank to meet palestinian authority president mahmoud abaas. biden is expected to face questions about the killing of al jazeera correspondent shireen abu akleh, who was a palestinian-american. the u.s. state department found that israeli gunfire likely killed the journalist, but couldn't definitively conclude the bullet's origin. a group of democratic senators has written an open letter saying the investigation doesn't live up to the administration's calls for an independent and credible inquiry. pres. biden: greater peace. greater stability. greater connection. it is critical for all the people of the region, which is why we will discuss my

u.s. basketball superstar brittney griner is testifying today in a russian courtroom as her trial continues. she has been jailed since february when she was arrested at a moscow airport for possession of cannabis oil in her luggage. on tuesday, griner's legal team argued she had the cannabis oil for legitimate medical uses. a russian narcologist was questioned by griner's attorney maria blagvolina. >> based on what you have said, if we understand you correctly, professional athletes suffering from chronic pain could have been prescribed medical cannabis in the u.s.. for example, the u.s. as therapy. >> i cannot testify for a doctor working in the united states because they have their own standards of diagnostics and treatments but these treatments are prescribed. this is a fact. amy: the family of slain palestinian american journalist shireen abu akleh is calling on the united states to launch an independent investigation into her killing. on three members of her family tuesday, met with s

we understand in the u.s. and in general, our jewish community intact and together and really, really committed to enabling every jew to have access to torah. i want to see that as who we are. >> thank you so much for being with us here on "mosaic." please continue this conversation in the community. have a wonderful day. >>> live from from cbs bay area studios, this is kpix 5 news. >>> right now on kpix 5 and cbs news bay area, one man is dead in livermore. >>> one man was shot in a traffic stop and the gunman is still on the loose. >> we have some news. >>> and aan

haidi: the u.s. economy shrinking. shery: u.s. futures are higher at the moment. we are sort of seeing bad news is good news phenomenon again where we are seeing the economy in the u.s. contracting for a second consecutive quarter. you have people thinking perhaps this is a slowdown for the tightening cycle. below are paring back the bets of aggressive fed rate hikes. the 10 year yield breaking through the 2.7%, the lowest level since april. we are also seeing oil continuing to gain ground in the afternoon session. take a look at after hours, apple narrowly beating estimates for analysts on wall street. tim cook saying the supply and demand picture looked significantly improved in china. amazon doing well. they not only beat when it comes to second-quarter numbers, but they also had positive revenue outlook. their expenses were lower than expected. intel slumping, they had a sizable miss. >> let's take a look at how this shaping up. look at australian futures. we are seeing an upside of about 1%. watching the aussie dollar as well because the gauge of u.s. dollar

he is a u.s. citizen today because he qualified under section 329 of the immigration nationality act for citizenship. chair lofgren: mr. jayapal is recognized. rep. chabot: immigrants have defended the u.s. in every major conflict since the revolutionary war. anywhere from a few hundred to a few thousand immigrant veterans are estimated to have been deported. that's unacceptable. i'm very proud president biden has taken steps to not only stop deportation of veterans, but also, allow deported veterans to return and ensure immigrant servicemembers and families can become citizens and have access to military benefits. i have a number of questions, if you wouldn't mind keeping your answers short so i can get through them. ms. rogers, would you agree it is in the best interest of national security to naturalize immigrants serving in the military? ms. rogers: i would say that my opinion is really not relevant because under section 329 of immigration law they are eligible to apply and become citizens. re

u.s. and china seem to be reaching an agreement to get it of some tariffs to deal with inflation. tom: possibly as soon as this week. upside in asian equities that is starting to have. -- ebb. from the bank of a press conference with andrew bailey later this morning after the boe publishes its financial stability report. gains in the u.k. of 10 points on the ftse 100. we will see how the other markets open as well as we continue to weigh up recession risks versus inflation. you saw modest gains in equities yesterday. yields are up on u.s. sovereign debt but lower on european debt. you have those comments from bundesbank about the toll. the cac 40 dating now .4%, the spanish index gaining. the ftse 100 now up by 25 points. let's switch and see how things are looking as the u.s. comes back from that independence day holiday yesterday. the futures pointing to gains of .5%. the u.s. two year, or the action is most expressed when it comes to higher yields, up almost two basis points. the pound

. >>> u.s. president joe biden is back from his trip to the middle east, and he has a bold retort to criticisms about his fist bump with the saudi crown prince. >>> wildfires ravage parts of europe as a sweltering heat wave spreads. we're live in madrid with the latest . >>> we begin in ukraine where we're getting a word about a new barrage of russian missile tryings in the south. ukraine says at least 10 millions admit mykolaiv sunday morning as the city still reels from similar strikes on friday. two industrial facilities were hit but no reports of casualties so far. ukraine says russia also fired five cruise missiles in the south but three were shot down. in the east, ukraine said fending off russian ground attacks in the donetsk region despite intense shelling, as in this town near the front line. meanwhile, russia's defense minister was in donbas on saturday ordering troops to increase operations to prevent ukrainian strikes in the region. ukraine's artillery has been stepping up attacks be

the u.s.audi relationship is something i think he is trying to reset. this is what i think he will speak to, that the united states as a long-term partner saudi arabia will provide assurances it will help saudi arabia defend itself from legitimate rents from iran, iran proxies in yemen and elsewhere, and there are various ways that commitment can come. add the saudis will stand as a partner with the u.s. over our rivals, russia and china. and also, bringing down oil prices, not to lower the price at the pump, but to toughen the bite of sanctions against russia. i think he will touch on themes that update the core saudi-u.s. bargain. and that opens the door for other issues that are important in the relationship that can't be tackled at once, the saudi human rights record, other human rights activists who are still imprisoned or banned from traveling in saudi arabia. and work in yemen, which needs to be brought to a definitive end in promoting steps saudi arabia toward normalization with israel

the u.s. and israel are expected to announce a joint declaration building on past calls to take military action halt iran's nuclear program. biden has promised he won't agree to any deal that would restore the landmark 2015 iran nuclear agreement, which the united states unilaterally withdrew from in 2018, if it means removing iran's revolutionary guard corps from a list of foreign terrorist organizations. president biden was asked about that pledge in an interview with israeli tv. >> already committed to keeping the tears -- on the terrorist organization list? pres. biden: yes. >> and in the past you said you would do anything to ensure iran would not acquire nuclear weapons. doesn't that mean using force against iran? biden: if that was the last resort, yes. amy: after headlines, more on president biden's trip to israel, the occupied territories, and saudi arabia. the house of representatives is set to vote this week on a record-shattering $839 billion military budget. the 2023 national defe

a u.s.sional committee investigating the arms industry says guns manufacturers earn more than $1 billion from the sale of semiautomatic weapons over the last decades. some have accused them of putting profits over people as they grill the ceo's of weapons manufacturers following grim mass shootings in texas and new york. a month after president barden signed a bipartisan gun reform law. house democrats want to go even further and ban assault weapons. from around the world, at least four people died in the philippines after a 7.0 magnitude earthquake struck. landslides have been reported and many buildings and roads of been damaged. a historical world heritage site has been destroyed. it was felt as far as 180 miles in manila. emmanuel macron has coda sized african leaders to the war in ukraine. he is in cameroon and spoke about what he called the hypocrisy of some leaders denying the conflict in ukraine was a war. the u.n. criticized china's crackdown on political activists in hong kong sayi

u.s. policy towards africa. witnesses discuss topics including russia and chinese influence, u.s. and africa trade relations, and the pandemic response. this runs just over one hour and 20 minutes. >> thank you, and thank you all. good morning and welcome to a foreign affairs committee roundtable on the importance of u.s. leadership on developing and executing a multilateral approach to africa. and think you our distinguished panelists and to our colleagues for joining us today. under the leadership of president biden, the u.s. has demonstrated the capacity to lead in addressing some of the most come plus challenges we are facing today. countering china's influence in the indo-pacific and beyond, u.s. leadership international stage has proven critical capitalizing our partners consequences an effective approach on the concept of africa. it is hard to comprehend how the youngest and fastest growing -- continent in the world, a region that contains 50% and vast array of minerals and other na

u.s. congress. white house offense, the court, campaigns and more in the world of politics all at your fingertips. you can stay current with the latest episodes of "washington journal" and live scheduling information for c-span's tv networks and c-span radio plus a variety of compelling podcasts. c-span now is available at the apple store and google play, download free today. c-span now, front row seat to washington anytime, anywhere. ♪♪ house foreign affairs committee looks at u.s. policy toward africa. discussed topics including russia and chinese influence, u.s. and africa trade relations and the pandemic response. this runs just over an hour and 20 minutes. countering china's influence in the indo-pacific and beyond, u.s. leadership international stage has proven critical capitalizing our partners consequences. i have yet to see us take the same effective approach on africa. it's hard to comprehend how the youngest fastest growing continent in the world, a region that contains 50% and

a new report warns u.s.king between russia and chinese advances in cruise missile technology in an exclusive interview with jennifer griffin, here's angus king of the armed service committee had to say. >> we are i think five years behind in terms of where the chinese are, they don't mind failing and test. we have his idea with got to get right, every test has to be a success. they have a series of failures, one of which they learned something. arthel: let's bring in retired u.s. air force lieutenant general richard newton, former assistant vice chief of staff for the service. general, thank you. first of all, do you agree with senator king? what more can you tell us about the hypersonic missiles x. >> good afternoon, i agree with senator king, he's spot on and listeners paying attention to eric's previous interview with rebecca, this idea dual threat between russia and china, low priority but high risk and that plays out in their advances. significant advances in cruise missiles and hypersonic missiles, tec

u.s. president biden will be here later today, but right now, he is preparing to meet with the palestinian authority president mahmoud abbas in bethlehem. no major breakthroughs are expected, although the u.s. is also announcing tens of millions of dollars for panhandle hospitals, refugees and internet upgrades. mr. biden reiterating his support for a two state solution to the israeli/palestinian conflict, yet no apparent plans for reviving the middle east peace process. meanwhile the white house confirms that president biden will meet one-on-one with saudi crown prince mohammad bin salman when he is here in jeddah. thursday in injuries, mr. biden and yair lapid agreed that iran should never be allowed to obtain nuclear weapons. let's bring in cnn's hadas gold live this hour in jerusalem. as you and i speak, president biden speaking at a hospital in east jerusalem. let's just talk about what he has achieved on this, the first leg of his trip in israel. >> reporter: first leg of the trip wa

u.s. leadership international stage has proven critical capitalizing our partners consequences. i have yet to see us take the same effective approach on africa. it's hard to comprehend how the youngest fastest growing continent in the world, a region that contains 50% and vast array of minerals and other natural resources failed to garner a clear comprehensive engagement strategy. it is clear that africa status nation and people is not the basket case many narratives portrayed to be. the continent does face challenges that must be met with strong unified international support. priorities developed across the country with support of our partners around the world include combating climate change, diversifying energy resources, stimulating economic growth and improving public health outcome. in the face of democratic backsliding, we have a collective responsibility from good governance and protect human rights. i've heard this from our african counterparts time and time again. they want to pa

u.s.my shrinks again. the president does not see recession. the second quarter in a row, u.s. economic output falls, raising fears of recession. officials say unemployment is still low. u.s. energy secretary tells us the new senate climate deal could finally enable america to lower carbon emissions. the u.s. and chinese leaders talk by one for two hours as tensions grow over taiwan. [explosions] >> soldiers in ukraine say they are doing better against russia thanks to the arrival of western weapons. kenya elephants in danger. climate change more of a threat than poaching. the commonwealth games opened in birmingham. more than 5000 athletes from 72 nations and territories will compete over the next 11 days. ♪ >> welcome to world news america on pbs. we begin tonight with fears of a recession in the united states. figures today showed the economy shrank for the second quarter in a row. prices for groceries and petrol rising at the fastest pace in 40 years after the u.s. central bank wednesda

with u.s.tion roaring to a four decade high last month, the federal reserve may get more ingressive -- aggressive with its belt-tightening campaign. joining us now exclusively with her views is cleveland fed president loretta mester. loretta: thank you. good to be with you. kathleen: and quite a day to have you here. about 1.5 weeks ago you said that if conditions were pretty much the same as they were then, you would be on board, you would probably be supporting a 75 basis point rate hike. now we saw the inflation report even higher than expected, few signs inflation is easing up. would you be on board potentially with a 100 basis point hike at this new july meeting? loretta: we don't have to make that decision today and there is more data coming out that i am going to bury -- to be very attuned to. we have retail sales friday and a very important michigan report, and that is important because it has the inflation expectations measure, a consumer measure in there. so we have data coming out. i

so for the u.s. military, as we look ahead to what we need to make sure our war fighters have what they need to succeed on the field and that they can have security in using those capabilities, we know we must secure a supply chain and domestic investment here in the united states. the chips plus act will help us substantially return leading edit microelectronics to the united states, deliver a winning combination of design, system integration into manufacturing it will help us build commercially viable, which is critical for us in dod. state-of-the-art application facilities. and that helps our commercial sector of course, but i cannot stress enough of much that helps our military. the resources provided for the chips for america defense fund inside the chips plus act funds innovative prototyping, extremity and. it allows us to train our next generation of scientists, engineers, tech onto manures. and it will assist us -- tech entrepreneurs. it will assist us to create art leading edge weapon system

the u.s. we discuss what comes next with the secretary of commerce. >> we need to make more of these on our shores in the united states so we cannot only korean jobs, but -- only create jobs, but protect our people. amna: then america addicted -- new data reveals a dramatic spike in overdose deaths among people of color during the first year of the pandemic. and after roe -- doctors in red states worry that abortion laws could hinder their ability to treat patients in life or death situations. all that and more on tonight's "pbs newshour." ♪ major funding for the pbs newshour has been provided by -- >> for 25 years consumer cellular has been offering wireless plans designed to help people do more of what they like. our u.s.-based customer service team can help find a plan that fits you. for more visit consumer cellular.tv. ♪ and with the ongoing support of these individuals and institutions, and friends of the newshour, including kathy and paul anderson and camilla and george smith. >> the joh

. >>> and some u.s. cities are sounding the alarm on monkeypox as they wait for vaccines and testing. >>> live from cnn center, this is "cnn newsroom," with kim brunhuber. >>> president biden has issued a major disaster declaration for the state of kentucky, as catastrophic flooding has killed at least 16 people, including six children. and the death toll is expected to rise. flash floods wiped out entire neighborhoods, scores of people are missing. kentucky governor andy bashir says it's hard to get a fix on the number of cell services out. bridges were demolished, and some homes were completely carried away. for many who have been affected, the damage is devastating. >> i don't know what we're going to do. we don't have no place to live now or anything. >> the water got to about there. we had about this much more room before we got flooded, and i've never seen it that high. we came out of the house, and it was so swift that even a jet ski was hard for him to handle. and he took us out one at a time. >>

u.s. earnings are around the corner. plus china's growing covid outbreak. all those are headwinds. and the strength in the dollar as well, the dollar index at a 20 year high. let's check what is driving the dollar strength. yes it is about recession fears, traders turning to the currency as a haven. but also the weakness in the euro and the yen, the yen still at the 24 year low against the greenback. the ldp this weekend really consolidating its majority. meanwhile the euro is inching closer to parity, now below the lows we saw last week, and a far cry from where we were in february at the 115 level. meanwhile we are continuing to monitor the weakness in the aussie dollar, below the $.68 level, and also watching the aussie-yen, really is simple or a sign of risk aversion. shery: yeah, the risk-on sentiment is being felt across markets. u.s. futures are now giving up the earlier gains we saw in the session. the s&p 500 was under pressure today, big tech leading the declines. twitter and app

u.s.audi relationship. mr. al-jubeir: human rights is an issue that american presidents attach great importance to, even though sometimes they don't live up to those ideals, which makes america human like the rest of the world. geoff: all that and the day's headlines on tonight's "pbs news weekend." ♪ >> major funding for "pbs news weekend" has been provided by -- >> for 25 years, consumer cellular's goal has been to provide wireless service that helps people communicate and connect. we offer a variety of no contract plans, and our u.s.-based customer service team can find one that fits you. to learn more, visit consumercellular.tv. ♪ >> and with the ongoing support of these individuals and institutions -- ♪ and friends of the "newshour." ♪ this program was made possible by the corporation for public broadcasting and by contributions to your pbs station from viewers like you. thank you. geoff: good evening. it is great to be with you. we begin tonight in saudi arabia, where president biden

judy:the u.s. economy shrinks fe second straight quarter, prompting debate over whether the country has entered a recession. then, a new deal. an agreement in the senate revives the president possible legislative agenda with a bill to cut carbon emissions and subsidize health care. and covid confusion. an epidemiologis answers your questions about the virus. >> if you have not had your booster for a while and you haven't been recently infected, you don't have great protection against infection with the vaccine alone so we really need to mask up right now especially during this surge. judy: all that and more on tonight's pbs newshour. >> major funding for the pbs newshour been provided by -- >> fidelity dedicated advises are here to help you make a health plan with tax sensitive investing strategies, planning focused on tomorrow while you focus on today. that is the planning effect for fidelity. >> the kandeda fund -- kendeda fund, more at kendeda fund.org. the carnegie fund for the advancement of i

markets looking at the u.s. cpi reading as the imf cuts its growth projections for the u.s. economy this year and next. and euro-dollar parity still in focus for us today after it slid within a whisker of a pure one-for-one rate. let's get to bloomberg's managing editor for emea markets. lynn, let's start with what we are seeing in terms of looking at that inflation print and whether there is a number that would fundamentally change the thinking of the fed and whether we are getting into the point where inflation is starting to peek? >> we are expecting the inflation number to come in very hot. the bold case for markets is very difficult to look at right now. tom: 8.8% is the survey. if we come through with 8.8%, does that give some assurance that the trajectories pretty clear from the fed? >> it would reaffirm that things are on track. continually you have seen inflation come in a lot hotter than expect it. that would really be a danger zone. report after report after report shows that regulators don't have a handle on the situation. tom: let's bring in your view. is there

the u.s. economy shrinks for a second quarter, fueling recession fears and president and president xi plan and in person meeting of what's being called a candid conversation. that coming against the backdrop of rising tensions over taiwan. haidi: as we continue to see the fed 75 basis point rate hike, we are seeing from the south korean finance minister talking about that 6% range of inflation expected in july. we are getting industrial output , through month on month rising one point 9%. much higher than expectations of a contraction of 8/10 of 1% for the month of june. we are seeing ip rising 1.4% year on year. that is missing expectations for that year on your number that was expecting a gain of two point 1%. we are continuing to see these comments from the vice finance minister. south korea will face a trade deficit in july on the cost of rising energy imports. getting breaking news when it comes to some of these reports. coming through with their numbers. second quarter net income coming

the volatility in the u.s. session down 2%, then stateside eking out some gains and nasdaq performing more strongly as tech came back. across europe, gains of little over 1%, the spanish ibex up 82 points. politics squarely in focus, the change around the chancellor of the exchequer. when it comes to france, a solid first few seconds, gaining 77 points on the cac 40. let's see how things are playing out across assets. as francine pointed out, pressure across the currency space, the euro falling to a 20 year low and the pound sterling also under pressure as was the russian ruble. futures unchanged when it comes to the u.s., that whipsaw session we saw tuesday on the states side. you are seeing a bit of selling when it comes to the u.s. and sovereign debt in europe. euro-dollar 1.02, the question around parity, mark cudmore of our mliv team saying it is ambitious given the challenges the eurozone faces. crude again in focus following that wti drop of 8% yesterday, currently gaining 1.6%. francine: yesterday i was

i believe a strong and vibrant u.s. israel partnership has seldom been more critical to our countries -- our countries in the middle east for diplomacy and decency. we are a diversified society, encompassing jews and muslims, christians, all denominations and beliefs. some of them distinguished -- investors from all error countries that have signed -- ambassadors from all our countries that have signed -- today. [applause] a strong and secure nationstate of the jewish people in the land of israel is critical to the safety of the jewish people. now, we have the opportunity in large part to the support of your administration and the abraham accords to envision one step further. together, we can create not only a new release but a renewable middle east, a regional equus -- ecosystem of sustainable peace. under your leadership, we can continue transforming our region to a source of global stability, progress, and integration. the middle east can grow into a meeting point for climate innovation and combined medical research,

the u.s.obs report we got on friday. certainly those strong numbers are setting the fed up for a supersized hike moving forward. in the currency space, dollar trading mixed against its piers this morning, but we are keeping an eye on the yen near its weakest around recent weeks at the low of 137. we are also as well keeping an eye because we've got those upper house elections at the weekend as well. taking more seats than first thought and that is being interpreted as a positive or markets. the other major factors for traders as well as what we are seeing in china. we can take a look at the inflation data we got at the weekend. we saw an acceleration in cpi if you bring up the chart. we saw it being driven high by energy and pork costs as well. in the underlying space, demand still continuing to look weak. kathleen, it is about what you're seeing in the covid space because shanghai reported its first case of the omicron subvariant ba.5 and it is being seen in other cities, including beijing, s

shery: how much of this story is the u.s. dollar? despite the u.s.omestic concerns, is this the entering period were bc king dollar again because of the risk off sentiment -- we see the king dollar again because of the risk off sentiment? >> as i mentioned, the weakness in the european economy put the european central bank in a box that they cannot tighten as much as they would like to. in a still be significantly lower than what they are in the u.s. right now. that has given additional momentum to the dollar along with what you described in the earlier reports. the safety that is always something that the dollar has enjoyed. i will mention that the problems that the ecb faces were drawn in particularly sharp focus this week when the cpi numbers were 8.6%, that was an average which ranged up to and including spain which came in at 10.6%. when you have that kind of inflationary pressure coming through, eca decline in consumer demand and risks arising in europe. shery: thank you for sticking around with us. you can get a roundup of the stories you need

u.s. stocks since november 2020. we can take a look at the direction with asian stocks. adding 1.5 percent, not the same story. we have been discussing that story related to the covid zero policies in china as well as the fiscal support we are not seeing there yet from officials but we do obviously see higher lows and lower highs. shery: the down trend continuing in u.s. futures as well. you are talking about the best month since april of 2020. s&p 500 companies reporting earnings beating expectations, feeding through the markets. when it comes to demand concerns, we are there. when you talk about april and wpi continuing, lower after two months of losses for oil prices but to keep and i on treasury futures because we have the shorter data yields and those consumer price wages accelerating faster than expected so traders pricing in a little more when it comes to that 75 basis point hike into number. let's bring in stephen engle and that chief rates correspondent for asia. we have concerns

a lot of u.s. companies with a lot of business in europe -- it's a major part of the global economy and if it goes into reverse and a big way, that's going to have a significant effect not only on the u.s. economy, but the way the fed thinks about it as well. >> certainly, the federal reserve and every central bank globally is going to think about hey, if europe is in a recession, are we going to follow? but there is a difference between the euro zone and the u.k. and u.s., in terms of what are our trade flows, how does the overall economy react? in the u.s., we have to disconnect. gina martin adams always brings this up -- the stock market is not the economy, right? if you have large multinationals that are seeing their profit david because of the exchange rate issue, that does not mean the u.s. economy has to fall out of bed. in fact, the numbers this morning for may suggest the business sector is doing reasonably well. factory orders are pretty healthy, durable goods orders are up reasonably as

they would say all u.s. data is stored in the u.s.e find out there is a tremendous amount of information that was flowing back to beijing and has new protections will be put in place, i am not so sure about that. that buzzfeed official had a tiktok official staying at the end of this day, these are tools built by china and we will see if they can continue to get access even after these controls are put in place. this comes to a matter of trust. i don't have a lot of trust left in tiktok. there was a member of the australian parliament that vote a letter saying i see your u.s. user data is going to beijing. his australian user data going there? there is this broader effort to take a look with more scrutiny at the data flows of tiktok. >> that was brendan carr speaking with our colleague, caroline hyde. tiger global management's hedge fund give 3.4% in june. the hedge fund is on pace for his worst year on record and they saw some of the biggest equity bets plunge. june was the first month since 2022 made money. sources say the 61 billio

u.s. of terrorism as it limits chip sales to its rivals. this is after the s&p 500 gained for a third consecutive session in the new york trading session. there was a lot of investors trying to digest the latest fed minutes, brushing off some of the hawkish news that we saw. we have some data showing some of the growth concerns and inflation concerns easing a little bit. we have utilities and technology leading the gains in the session and energy stocks are the biggest losers. oil continuing to drop below the $100 a barrel level. we see the pressure in the asian trading session as recession fears come to the forefront. the dollar at a two year high. we continue to see the inversion. we had a lot of volatility and the wild treasury market, a two year yield which is sensitive to policy. jumping as we got the fed minutes. the 10 year yield is above 290 again. is this a signal of an economic recession to come? they cap has had to be a bit larger when it comes to the inversion for the recession

u.s. earnings expectations -- are still very elevated in the u.s..espite the confidence, they also miss on the expectation side. there is still a risk factor there we have to acknowledge. manus: dani sent me a note this morning. you can see a weapon draw. the consequence of that, you've got cash, but how much more exposure to dollar to take? the other note we talked about -- he said it is going to be hard to get on top of the dollar. don't fight it. positioning not that long. cash in dollars, do you take more fx exposure? >> at the moment somewhere along on the dollar. we have that dollar position and we are happy to keep it on. at the same time, we are also wary of setback potential. interest rate expectations are quite elevated in terms of policy tightening. the dollar is fairly expensive month intelligence behind the dollar strength would drop away. we are keeping the trades, there is a potential there. dani: to come into the mind of the excel buildings of the data mining modeling team at northern trust when you are looking at the dollar as it app

. >>> rebound on u.s. services data janet yellen holds talks with beijing there at u.s. will cut tariffs in a bid to ease inflation. >>> good morning warm welcome to "street signs. the biggest news of the day is joumanna is back. >> it feels like i have not missed much with news. what happened in the nine months i've been off? >> a quiet nine months >> it is great to be back. i'm happy to be back on set with you and in person. we haven't done that in a long time it gives me a break from all of the nappy changing in the last nine months. i need a break. >> nice to be back together and around the set i'm looking forward to the next weeks and months and maybe longer >> a lot to talk about >> there is. including this morning big news from uniper shares trading to the top of stoxx 600. rebounding after monday's 30% plunge the price drop was after the report of the 9 billion bailout package for uniper rather than passing on higher gas prices they are not allowing a clause spike prices, but working on options for a state bailout which is involved with a cabinet injection. they

australia's of the u.s.mp up production. >> in the short term, i'm talk about this winter, there is very little i can do. they can maybe squeeze out a little more supply. it is challenging to boost lng output in the short term. longer term, there is a lot that can do. they can expand capacity. that is not going to come online until 2026. lng export facilities are giant infrastructure pieces that take a lot of investment, billions of dollars and years to put online. there is not much they can do in the short term. longer-term, they can try to address the supply crunch. that means we are not just looking at 20 winter is a but also 2023, potentially 2024 also going to be type as it takes years to come online. tom: 2026, years away, who knows what could happen in the energy markets between now and then. talk to us about the linkage between gas and oil, some upside for oil, what are the linkages between gas and oil, how much inflation is going on? >> it is the same thing you are seeing with lng, the less russian