Plus, march madness officially kicking off this week and the games have changed dramatically. Now players are allowed to make money which cleared the way for ea sports to bring back an old favorite and play pay players for their names and likenesses. We will get that back to back. Two straight losing week spirit had not happened since october. You can see the nasdaq is leading the way higher by about 1 . The s p 500 not too far behind and the Dow Jones National average of 3 10 of a percent. Ai optimism boosting tech stocks and not just in video which we have already seen. Google and apple may be working together. Those reports both helping those two stocks as well. Now to the two big events that markets will watch this week. First up jensen wong, nvidia ceo delivering the keynote. That is today at 4 00 p. M. Eastern. Everyone wants to know what he will say about demand for aig chips and what they have in the pipeline. Coming up n wednesday, jay powell, we will hear from them to 00 at 3
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
You about how Retail Investors are feeling right now. Well explain. Im melissa lee, coming to you live from studio b at the nasdaq. On the desk tonight steve grasso, karen finer man, dan nathan, and guy adami. The s p rising 0. 6 . The nasdaq up 0. 4 . Well get to that in a minute, but first, new signs that the Retail Sector is ripe for some dealmaking. Shares of nordstrom popping more than 9 after reporting of its founding family is looking to take the company private. This news coming after similar attempts six years ago was ultimately unsuccessful, but it is far from the only deal percolating in this consumer space. Macys saying its agreed to open its books to potential acquirers. It and kohls have attracted activist interest in weeks. And theres tapestrys deal for capri, which is expected to close later this year. And shares of American Apparel giant Gildan Activewear popped after the board said it has several potential buyers for the company. Is this just the start of a coming wav
Were about at session highs with the Dow Jones Industrials up about half a percent. The nasdaq composite is the laggard today, down about a quarter of a percent. We do have communications services, the lagging sector, real estate also lower for the session. Energy and utilities leading the way. Investors digest the news out of nvidias conference, 868. They have the new a. I. Chip. Lets just kick this off with even your initial reaction to everything weve heard so far. Jim, ill start with you. Are you surprised that were seeing a little bit of pullback on this news . Was it not as, i dont know, as bangup as the market had hoped to hear . I dont think thats what it is at all. Its had a hell of a rally, 75 year to date, 3x the last 12 months. A little bit of profit taking is warranted. You think to yourself, what sort of rabbit can they pull out of a hat . Im not expecting them to come up with a cure for cancer on that conference that they do. They did what they are supposed to do. They c
Yesterday. 4. 23 . If you check out the price of copper, copper ended at the highest settlement since october of last year. This morning, it is off 1 . Watching that copper closely because it is a signal of expectations for global manufacturing. Japan central bank raising rates for the First Time Since 2007 and ending the other easing measures. This is the longest easing from any central bank. They were the lfirst to go in ad the last to come out of the easing. It raised the rate to 0. 1 . That was up from negative to 0. 1 . The yen trading at the lowest level of the year compared to the dollar. The central bank abolishing the yield curve control policy for japanese sovereign bonds. The central bank said it planned to purchase government bonds worth broadly the same amount as before. It will scale back asset purchases and qt. It is not really aggressive if you are talking about zero to 0. 1 . Backing away from the eightyear experiment. Experiments are not eight years. The new normal. I