from new york city for our viewers worldwide i m vonnie quinn. coming up, core pce they are expecting the fed to cut once this year. the fed heads into its blackout we begin with the big issue. >> today has to be a good relief. >> inflation is starting to ease up. the fed continues to say we are data dependent. >> i notice a slow down and spending. >> inflation is still an issue. inflation is coming down but expected to be sticky. we are hopeful we get further cooling and inflation. that should be enough for the fed to cut. perhaps they will find an opportunity to negotiate a rate cut. >> maybe one rate cut this year and look forward to 2025. vonnie: optimism that this is dovish data. some investors and strategies are talking about personals ending easing off but that could be considered a good thing for the federal reserve if wages began to decelerate and it hits the labor market. taking a look month over month, year over you are as expected and not wildly out of control. i will leave the adjectives to our guests. let's see how the two year yiel

bonnie -- vonnie quinn: let's get a quick check on the markets as we had until lunchtime. the s&p 500 has not been completely volatile, but it hasn't been a higher, just a fraction of 1%. nvidia, empowering gains for tech companies and the market overall. the stock is up 8% thanks to nvidia and the halo effect it is having on ships, up half of 1% for the nasdaq as you can see. softer on yields, reversing that slightly now. as you can see, some strength to the oil trade below $80 per barrel continuing geopolitical tensions and waiting on that opec-plus meeting. on the equity side, as i mentioned, nvidia is powering the market once again today to extend a post-earnings rally for a third consecutive session. on the heels of the elon musk start it has raised $6 billion. i'm watching three point -- report mac moran continuing to successfully navigate challenges facing the industry. today's move comes on the back of an enthusiasm wave for copper after china put in place some measures to boost the housing market and having a wonderful week so far. investors are weighing the feds'

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i want to bring in vonnie quinn and talk about the u.k.nomy here because this is an issue of timing and strategy. july is sooner than expected and it soon expected because rishi sunak faces a difficult domestic economic picture that will inform voters minds. >> let's talk about that inflation data became an earlier. which was higher than most analysts and economists were anticipating. 2.3 services inflation up by .9% which shows inflation is entrenched. rishi sunak would be hoping for that to come down and for there to be a few more months of data showing better inflation figures. he is not getting that. the bank of england which had been expected to maybe make a cut in june. banks have been pushing that estimate for the first cut out. the most recent bank to do that, for there to be a snap election that makes life a lot easier because if there were to be a snap election in july as some outlets are reporting that would mean the june would be a contentious time to make a rate cut. if the cut isn't going to happen anyway that makes it may be