A special Labor Day edition. Enjoy the 5 00 p. M. Hour, ari. I was going to say, nicolle, it doesnt feel right being here 5 00 to 6 00. Doesnt feel right. But at least i got to see you. Yeah, have a great show. Its a great time. I was happy to come in early. Youre now here early. Its great to get to see more of you. Absolutely. And have a great rest of the Labor Day with you and yours. Welcome to the beat, everyone. Im ari melber. It is Labor Day but theres a lot going on in the world, on the campaign. The news doesnt stop. I can tell you Vice President harris is on the campaign trail. You see here the preparation with President Biden. Theyll be campaigning on this Labor Day holiday. We can also show you them arriving. This was moments ago. So were going to bring this event to you here in this 5 00 p. M. Eastern hour. As i mentioned, theres kamala i should say with the president. But i mentioned with my colleague Nicolle Wallace were here in the 5 00 p. M. Hour. Were going to bring you
But why stop there . The answer is its not enough. Jensen huang unveiling the new generation of nvidias ai chips yesterday at the companys developers conference. Welcome to squawk on the street. Im david faber. Live from the new york stock exchange. Jim cramer is in san jose, california. He is at nvidias gtc. Hes going to have a live and exclusive its both live and exclusive interview with jensen huang. That will be in the next hour. Of course, we or very much looking forward to it. A half hour from now we get started with trading. Lets give you a quick look at futures. We are in the red. So perhaps a lower open when we begin trading. It starts with nvidias potential ai gamechanger. The Company Unveiling its latest, more powerful Artificial Intelligence chips which Ceo Jensen Huang says are twice as powerful for training ai models that the current gpus. The feds march meeting kicking off today. The bank of japan raising Interest Rates. No longer are they negative in that country. And w
Our road map does begin with tech stock volatility. Adobe shares are tumbling. Microsoft, though, record highs. Tesla and nvidia, those stocks, at least recently for nvidia, saying its a struggle may be an overstatement, but they certainly have not been going up. The nasdaq 100 pointed to its first backtoback weekly loss since last october. Plus tiktoks owner, bytedance, on track to surpass Metas Facebook as the Worlds Largest social Media Company by sales. And the chamber of commerce suing the s. E. C. Over new Climate Disclosure rules, a lot to unpack there. And were going to begin with the road ahead. In particular, for what has been driving this market for quite some time, and that is namely what we call the Mega Cap Technology companies, a. I. , particularly generative a. I. , and mike, ill turn to you. We just mentioned, of course, nvidia shares, which, yesterday, we discussed. I mean, jim and i, years ago, developed this thing called the key to this market, and it does feel like
This is where a lot of the movement is. Nearly 4. 93 on the two year yield. Stunning moves of 18 basis points higher than where we were a day ago. The 10 year yield now back above 4. 50. The dollar rising in conjunction. Gold taking a bit of a breather, it has risen 13 on the year so far. Movers on the equity side, one stop feeling pain from the Inflation Report is deckers outdoor. It is among the worst performers in the s p 500 and is affected by downgrade. The stock down more than 7 on the day. Delta reported a strong secondquarter outlook. The stock fighting to remain higher amid the selloff. The ceo says there is no let up in demand going into the summer. Delta flat now on the day. Boeings supplier taps the new ceo. The new ceo oversaw a number of quality problems and margin issues. David kelly says todays data takes the june rate cut off the table. The sound you heard was the door slamming on june rate cut. Its more inflation than the fed wants. They still want to normalize rates
Pelley today, president obama made it clear, he believes Vladimir Putin ordered a plot to break into Democratic Party computers with the intent of throwing the election to donald trump. Mr. Obama said he warned putin during this summit meeting in assessment that russia must not attempt to hack into any systems for counting votes. But mr. And mr. Obama said there is though evidence that they did that. But in a news conference, the president said the russians did hack into the Democratic National committee and the emails of hillar hillary clints campaign chairman. He suggested that mr. Trump and republicans aided the russian plot by embracing the embarrassing leaks that dom 98edly the media before election day. Margaret brennan is at the white house. Not much happens in russia without Vladimir Putin. Reporter president obama left little doubt he believed Vladimir Putin was involved with the russian hacking, and he confronted him about it two months before the election. In early september