SAM, Wednesday, John discussed on The KFBK Morning News
Rates. Let's go to John Lockwood. He's a cap trust with us this morning. Some business news on Wednesday. Good morning, John. Hey, Sam. Good morning to you. Yeah, you know, investors really are on edge, waiting that policy update. We don't expect the Fed to announce an interest rate increase in the near term. However, they may announce or, you know, perhaps signal when they may reduce the bond purchasing program, which is another monetary policy tool in which they buy bonds, which when you buy it, you're giving cash to the The creator of that bond, in other words, injecting money into the economy, so that may come to an end, which is another form of kind of pulling the punch bowl away. So we shall see. And in light of that upcoming meeting market took some profit off the table yesterday. You can say both the S and P and the NASDAQ coming off of their recent highs. And we saw report this morning from the Wall Street Journal, saying that we're about 5.5 million homes short, That is, the housing market has an extremely low amount of supply. And reading that article. Further. The building Ministry is only producing about 1.2 million units each year. So we have about four years of shortage in terms of supply, and with interest rates remaining low below that 3% Mark, I just don't see housing correcting any time soon, so big issue. It needs to be faced. We're looking at the futures market here. Tao is going to open lower as well as the S and P. NASDAQ futures point to a higher open and the 10 year bond yield 1.49%. Okay, thank you so much. John. Do appreciate it. 6 24 President Biden on his first overseas trip since taking office is meeting at this hour. With the president of Russia, Vladimir Putin. We've been covering that all morning and will continue to do so. But along those lines Ukrainian President Vladimir Zelensky he is looking for help from President Biden to stabilize the nation and curb Europe's dependence on Russian oil. However, President Biden says that Ukraine must first clean up corruption before they can join NATO. We're about to roll out a fresh new audio clip from Senator James Lankford. He's a Republican from Oklahoma. Wade in and how the Ukrainian president's calls relate to the cancellation of the Keystone pipeline in the United States. In the middle of canceling out the Keystone pipeline, the president lifted sanctions on a Russian pipeline. The North Stream two, which will cut off the United States from selling natural gas to Western Europe, because that was Western Europe's alternative. They can either by natural gas from us or buy gas from Russia. Trump Administration put sanctions on that pipeline, and so the pipeline had stopped construction. President Biden lifted sanctions on that So now we won't sell American natural gas. Now Western Europe will be dependent on Russian natural gas. How does that help the stability of Europe? How does that help American jobs? I have no idea. President Zelensky is screaming in the media. I'm trying to get ahold of President Biden and he won't meet with me and he's benefiting Russia in cutting off Ukraine and everybody just yawns. One of the criticisms of President Biden going into this summit. This meeting with Russian President Vladimir Putin was that he allowed this Russian oil pipeline to, uh, to exist. While he shut down the keystone pipeline, and from just a diplomatic standpoint, it really hurt his negotiating power. So Nevertheless, it is a bone of contention, as you can hear, not only from Ukraine but within the halls of Congress as well. Let's see. I'm taking a look at our rundown right now. We're spending a lot of time this morning talking about the weather, the hot weather, the heat wave that's coming in, and also about the drought and the level of reservoirs. It's just phenomenally low all across the West. Gina. It's not just in California. And there's concern now about power generation. And how you know, I was surprised when we've got some figures that we're gonna roll out for you how much we rely for our electricity on Hydro. It's amazing. It's high, and we're now now The reservoirs are low. It's gonna It could impact us. So we'll get into that. Sense of fluid details are constantly changing. It's smart to check on on events and news throughout the day when I need to know on your smart device say Played KFBK on I Heart Radio Sacramento's news 93.1 kfbk. Honey,.