Chinese President Xi Jinping arrives at the White House for meetings with President Trump, with trade and the U.S.-China relationship in focus. Plus, as the administration weighs a diesel export ban to combat soaring prices, American Petroleum Institute CEO Mike Sommers explains why he says the move could make matters worse. And Philadelphia Fed President Anna Paulson signals more tightening could be ahead, warning inflation remains well above the Fed’s target.<br>Squawk on the Street Disclaimer<br><br>Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

10AM Hour: China’s Xi Arrives at White House, Why A Diesel Export Ban Could Make Matters Worse, Fed’s Paulson Signals more Rate Hikes 9/24/26

Squawk on the Street

[SPEAKER_02] Good Thursday morning. Welcome to Squawk on the Street. I'm Carl Quintanillo with Morgan Brennan and David Faber. Live at Post 9 of the New York Stock Exchange, Sarah Eisen's on assignment. Stock's a bit lower this morning as bond yields do climb to multi-decade highs. And we get a little bit of bounce on oil, Brent above 105. We'll talk about how this big move in rates is impacting your money. China's president expected to arrive at the White House any moment for meetings and ceremonies with President Trump. We'll get you updates throughout the hour. Also ahead, as the administration weighs a diesel export ban to combat

[SPEAKER_12] soaring prices. We'll talk with the head of the American Petroleum Institute, who says a ban would make the situation worse. And we'll get to the big moves this morning in Meta and Oracle, of course. First, though, let's get to new home sales just crossing in. Diana Olick is here in person at Post 9 and has that for us. Diana. I am here with the numbers 684,000. That's a beat. That's up 6.4% month to month. The street was looking for 618,000. The important thing to note about these numbers is that new home sales are up to 618,000.

[SPEAKER_12] Sales are based on signed contracts, not closing. So that's people out in August shopping for a home when mortgage rates were actually much better than they are today. We're around 6.8% really for the entire month of August. But now we're, of course, up at around 7.26%. The median price, though, was 393,000. And when I look at that, it looks like that is below the August price of 417,000, down 5.8% year over year. So that's what the builders are doing.

10AM Hour: China’s Xi Arrives at White House, Why A Diesel Export Ban Could Make Matters Worse, Fed’s Paulson Signals more Rate Hikes 9/24/26

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The candid version is on a podcast,
not the earnings call.

10AM Hour: China’s Xi Arrives at White House, Why A Diesel Export Ban Could Make Matters Worse, Fed’s Paulson Signals more Rate Hikes 9/24/26

Read the full transcript

The candid version is on a podcast, not the earnings call.

The candid version is on a podcast,
not the earnings call.