About this episode
U.S. retail sales climb, and jobless claims fall ahead of next week's Fed meeting. This, as the market rally falters, with major U.S. indices on track for their fourth negative week in five, while Man Group CEO Luke Ellis tells CNBC he expects further pain to come as the Fed tightens policy and Fedex CEO Raj Subramaniam warns of a global recession. Chinese consumer confidence shows signs of resilience with retail sales rising at their fastest pace in six months, while factory output and investment data also top expectations. Russia acknowledges Chinese "questions and concerns" over the Ukraine war, after Presidents Putin and Xi hold in person talks for the first time since the invasion. In extended U.S. trade, Adobe shares sink after the software company announces a 20 billion dollar deal to buy Figma. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info .