All right, welcome back. Well, earlier today we got another pretty good read on the economy, but it's kind of another day where the bond market is not really moving. The 10-year yield is at 4.46% and as we noted yesterday, that's the same price that bond yields were at back in November.So, what's it going to take to get borrowing costs on the move again. Either way, Rick Santelli is in Chicago with the bond report. Rick, yeah, you nailed it.Not only was 445 an important area historically, that's where we we ...

Joining us now to react, Dan Clifton is head of policy research at Strategus, a bar company, and Claudia Sam is New Century Advisors chief economist. Welcome to you both. Claudia, let me just start with you from kind of the I was going to say egghehead, but that would be impolite from the the economics professions point of view on all of this.Um, but also, I mean, you've had some really thoughtful things say about what what is going on with the economy and inflation. What's your reaction to to Worsh's comme ...

Market Performance - The Dow closed up +88 points (+0.20%), the S&P 500 increased by +8 points (+0.14%), the Nasdaq rose by +54 points (+0.27%) reaching a new all-time closing high, and the Russell 2000 gained +14 points (+0.67%) [1] Economic Reports and Earnings - No major economic reports or significant Q2 earnings results were released on Monday, with expectations set for Tuesday [2] - Consumer Price Index (CPI) numbers for June are anticipated, with a consensus expecting a rise to +2.7%, the highest since February [5] - Q2 earnings results are expected from JPMorgan (JPM), Citigroup (C), and Wells Fargo (WFC), with JPM and WFC projected to report a -0.2% year-over-year decline, while Citi is expected to show a +0.1% increase [6] Company Developments - Meta Platforms (META) is significantly expanding its AI data center operations with investments in multiple multi-gigawatt clusters, including the "Prometheus" and "Hyperion" data centers, which could scale up to 5 gigawatts over the coming years [2] - Occidental Petroleum (OXY) has noted that lowered production and falling oil prices may negatively impact its Q2 earnings, which will be reported in about four weeks [4] Cryptocurrency Market - Bitcoin reached a record high of $122.7K before settling at $119.9K, driven by expectations of future Federal Reserve rate cuts [3]

9 July 2025 | 4:42PM EDT USA: FOMC Minutes Reiterate Wait-and-See Approach to Policy Jan Hatzius +1(212)902-0394 | jan.hatzius@gs.com Goldman Sachs & Co. LLC Alec Phillips +1(202)637-3746 | alec.phillips@gs.com Goldman Sachs & Co. LLC 1. The minutes to the FOMC's June meeting noted that participants "generally agreed" that the FOMC was "well positioned to wait for more clarity on the outlook for inflation and economic activity." Participants judged that "it remained appropriate to take a careful approach in ...

ab 18 June 2025 Global Research US Economic Perspectives June FOMC: The Fed's new outlook FOMC median policy assumption this year unchanged The FOMC left rates unchanged at their meeting this week but not their projections. In the June Summary of Economic Projections, the median assumption of appropriate policy (the median "dot") for 2025 was left unrevised at 3.9%, below our expectation for a 25 bp upward revision. However, 2026 revised up 25 bp to 3.6%, which was in line with our expectations, and up 25 b ...

Okay, we're gonna pass from Steve to Steve. So, Steve Graass, so I'm going to kick it off with you just because the name was top of mind. Nice.Uh, have Steve Leeman on more. Well, listen, two big interviews today. Waller made comments.I just don't know if anybody has any visibility, including Jay Pal on down about where things are going to be given we don't know what oil prices are going to do, inflation's going to do, tariffs are going to do. So, you know, when you look at uh the Treasury Secretary uh Bess ...

has left the room and I do want to bring him in. Um, a couple things are clear here to me, Steve. Number one, um, it seems the Fed chair believes that the tariffs have put both sides of the mandate into question and they're going to have to wait and see on how to deal with all of that.And that Pal himself doesn't seem to be a huge fan of these SCPs either. Um, and he revisited the refrain from the last meeting, throwing back at the reporter who asked him the question, "What would you write? We'll do the bes ...

All right. So, Lauren, I was just mentioning um our Fed survey, our CNBC exclusive Fed survey. It shows the Fed funds rate at 3.89% by the end of this year.Do you see a similar picture playing out with the Fed cutting rates pretty significantly this year. That is our base case expectation this year that the Fed would cut one to two times because frankly that's what the Fed has told us so far. And our expectation for the meeting this afternoon is that the Fed will do as much as it can to do as little as poss ...

Wall Street's always looking for signals. Signals from all over the place, but especially from the Federal Reserve, which is why I keep coming back to this subject. I just explained what happens when the Fed signals that it's willing to strangle the life out of the economy in order to curb inflation.Investors figure that we're headed into a slowdown. The stock market plummets and it tends to stay down. Now, let's talk about the other side of the coin.Because while the Fed can be the ultimate destroyer of va ...

Economic Overview - The U.S. trade deficit reached a record low of -$140.5 billion in March, surpassing the previous estimate of -$137.6 billion and the revised prior record of -$123.2 billion [2] - The trade deficit metric has been consistently reported since 1992, indicating ongoing trade challenges [3] Company Earnings Reports - DoorDash (DASH) reported Q1 earnings of 44 cents per share, beating estimates by 10%, but revenues of $3.03 billion fell short by nearly 2%. The company announced acquisitions of Deliveroo for $3.9 billion and SevenRooms for $1.2 billion [3] - Archer-Daniels-Midland (ADM) reported earnings of 70 cents per share, slightly beating estimates but significantly lower than the $1.46 per share from the previous year. Revenues of $20.18 billion missed expectations by 2.5% [4] - Marriott International (MAR) reported Q1 earnings of $2.32 per share, exceeding estimates by 5 cents, with revenues of $6.26 billion, which was slightly below expectations but an increase from $5.98 billion a year ago [5] Market Expectations - The Federal Open Market Committee (FOMC) meeting is underway, with no expected changes to the Fed funds rate, which has been stable in the 4.25-4.50% range since December [6][7] - The U.S. dollar has shown some instability due to new global trade realities, but bond yields remain stable, indicating no immediate pressure for rate changes [8] Upcoming Earnings Reports - Upcoming earnings reports include Advanced Micro Devices (AMD), Electronic Arts (EA), and Wynn Resorts (WYNN), with The Walt Disney Company (DIS) reporting the following day [9]