that's all for this edition of "dateline." i'm andrea canning. thank you for watching. ♪ good morning welcome to "street signs." i'm joumanna bercetche >> and i'm julianna tatelbaum. these are your headlines >> nvidia blows past expe expectations as sales double and net income surges 800% sending shares sharply higher overnight. the sentiment spills into europe with the chip makers leading gains and putting the stoxx 600 firmly in the green. the brics group is set to

expand for the first time since 2010 as it extends invitations to saudi arabia and uae. and gop coming out swinging for the republican party's first debate as former president trump goes it alone. >> i say why am i doing it and i'm going to have eight people or ten people, whoever made the debate, all these people screaming at me and shouting questions at me. all of which i love answering, but it doesn't make sense to do it so i take that pass. attention turns to jackson hole today as u.s. treasury pares back from the multi-year high as jay powell may strike a dovish tone. we are live on the ground to bring you a host of fed voices

good morning a lot to get through in terms of markets today. we want to bring you new information that has come to light in the last ten minutes with the respect to the brics. the summit taking place in south africa the expectation they may extend membership that has come through in the last ten minutes the south african president has said they have come to agreement to invite argentina, egypt, iran, ethiopia and uae it will take effect in january of 2024. we thought there was a low probability this would hacppen this is a bit of a surprise. >> speaking about a surprise, we had a guest on the show this week to talk about expansion of the group.

he said saudi arabia was unlikely and egypt more likely here we have a number of nations invited to join. in terms of unity in the group, india, which was opposed to expansion, the prime minister modi says this will strengthen and give shared efforts an impetus. >> what exactly are they trying to achieve if the goal is to go up against the united states global coalition or move ahead of the dollar, there is not a lot of evidence they have been successful so far. perhaps the goal is to change that in the future big event from brics. >> we will talk more about it later in the show. let's turn attention to nvidia shares of the tech giant popped after the chipmaker reported a blockbuster second quarter

data center grew to over $10.3 billion fueled by strong demand for a.i. chips revenue doubled on the year to $13.5 billion which is up 88% on the quarter. the big surprise is the current quarter. nvidia is forecasting $16 billion for the quarter. the company will buyback $25 billion of shares. speaking on the earnings call, the ceo said nvidia has been working hard to beat soaring demand. >> the demand is tremendous. we are significantly expanding production capacity. supply will increase for the rest of this year and next year. nvidia has been preparing for this for over two decades. we are seeing two simultaneous

platform shicfts at the same time one is the accelerated computing because it is the most cos effective and energy effective and best way of doing computing now. >> nvidia shares rose in after hours trade. here is the chip makers in europe which are trading firmly this morning asml is up 3% this morning in asia, the reaction in the chip makers overnight with green across the board there as well nvidia shares lifting the chip making space which as we discussed early they are week, t -- earlier this week, would be a wider set of perspective >> net income jumped to $6.1 billion to date. there's huge numbers arjun is here on the set they surpassed expectations.

they beat on the actual numbers and also the outlook as well >> nvidia is sitting in a perfect spot in terms of positioning in the trends of broader adoption of a.i. and companies willing to invest in artificial intelligence and the backbone of that is nvidia's gpus which go into the data centers to train the a.i. models which compares to chatgpt. chatgpt brought this technology to the floor and shows what the technology is all about for the companies. you have the supply tightness which is supporting the prices the makers are charging. they are in a perfect spot of huge demand. not a shortage, but not enough supply of the chips which is helping them look at the margins.

7 71%. mammoth because of the way they are ramping up the supply with the demand much of that is driven by the data center business and not to dismiss the gaming business. this used to be a gaming company. chips going into gaming monitors it is eclipsed by the broader data centers. >> this is an extraordinary story when the stock took off in the spring a arjun, stick around. we have the strategist from hsbc frank, arjun gave us the highlights how do you expect consensus earnings to evolve now that we had this earnings beat and this strong guidance from the company? >> sure, yeah. it is a great point that you made we had high expectations going

into the earnings, yet it is a repeat or deja vu from last quarter where they beat the number and the huge guidance we were more bullish going into this guidance relative to the overall street because we see two things at work the one thing is the makeshift what people don't give the company enough credit for is the pricing power they have as they increase the mix of h-100 gpus, you talk about the doubling of the cards. that mix went up a lot into the current and third quarter. the other thing that has held people back is not the question of demand. a.i. demand is strong and continues to go from strength to strength the issue was the supply chain and if it was a bottleneck to hold things back what we see in asia is the supply chain is robust and we

are confident that the supply chain would continue to expand that is the message reiterated by the management today. i think this is what will drive the overall consensus earnings to go up from here >> frank, i read your note before the earnings came out you have a target of $78 one issue stood out to me about the gpu unit assumptions that is your base case you outlined the bullish case as well i want to ask if you could break it down for viewers. you see this based on higher chip capacity. tell us what it means. how do we get to the bullish case from where we are now >> sure. if you think of the bottleneck

concerns is has been the capacity it is a type of packaging capacity that is supplied by tsmc i think we are concerned they are not expanding enough as we go into next year, that number will go up. as you highlighted, we see based on the capacity next year, there is a lot more potential fo nvidia to meet that volume than the base case. the base case has been based on what we think is the a.i. demand for next year, but if the demand continues to outpace supply and lean toward capacity, it will be upside to the base case next year. >> frank, a quick question here. this is arjun. there was a question of software how significant are the product launches from nvidia this year in terms of staying ahead of the competition and also expanding

that as others try to launch their rival products >> that's a great question i think l-40 chip which got launched and is starting to get traction here is important if you look at the current shortages, nvidia cannot meet the demand what they are prioritizing is supplying to the hyper scalers and people feeding the language models what they have come up with is another chip which is not as powerful or capable as the l-100, but used in training. we think it is a good strategy to basically feed the overall market demand. as the industry looks to more products, it can enhance the market i think this is a great thing about the strategy is the l-40s chip is not based on the

capacity we talked about it is not held back by capacity tightness we have seen with the existing chip. >> frank, from the geopolitical perspective, this is in the line of fire. the united states is trying to retried the export of chips to china as we speak. we learned that sales to chinese customers account for 25% of data revenue centers it has been a concern for a.r.m. as that company prepares to list how big of the risk is the china story to nvidia investment case? >> that's a really good question i think if you see the china concern, this is an ongoing issue. we encountered it last year with the first ban that was put in place. nvidia is a nimble company and it was able to come up with a different shift that complied

with all of the u.s. regulations and continue to sell in china. they have more experience in dealing with this. i think if we encounter another ban going forward, i think there will would be a solution to get around that. i do think this is something that is a risk, but i think given the way the company is executed, they have a plan to adjust to whatever changes go forward. >> frank, thank you for sharing your latest views with us. fantastic to have us on. frank lee at hsbc. arjun, thank you for breaking it down for more on what to expect from nvidia after the blockbuster results, check out cnbc.com. >> we saw major reaction in nvidia stock yesterday the stock up 10% that is having a knock-on effect on tech sectors. asia pacific and hang seng here in the stoxx 600 with a lot

of the green on the map. it is up .60%. it is fascinating to consider the european markets which have been bouyant in the face of the key numbers. despite that, the indices have been doing well. stoxx 600 is up 1.1% for the week that tells you investors are focused on the trajectory of interest rates than growth going forward. something that central bankers will talk about at the jackson hole symposium you will watch for some key announcements and some of the comments that we'll get to in the next two days. jay powell will be speaking tomorrow at 10:00 a.m. here in europe, every board is trading in the green i did mention that all of these are trading up in the week dax is up 1% cac 40 is up .80%.

the ftse 100, relative under performer, given the concerns about china at the beginning of the week and that is up .40% today. all moving nicely positively in today's session. in terms of leadership, this is what we are seeing today up at the top is real estate we haven't seen a bounce back in the real estate and reit names in europe. perhaps a valuation play with the extremely distressed levels. we are leading some of the rebound up 1.5%. remember, yesterday we had a huge rally in bond yields down 10-to-15 basis points. technology with no surprise as we get that boost from chipmakers namely on the back of nvidia's results financial services up 1.2. basic resources is the only sector in the red today down .50%. as a reminder, you can tweet us if you want to get involved

on the conversation if you have a view on nvidia or you think shares are fully valued. you can contact u us @cnbcjoumanna if you want to get involved in the brics. that could be getting more complicated as the bloc invites six more members to join we will see what they could eaing to the table aerhi ft ts ft ts brk. wa achievers. you're making the most of every hour of your life. except the hours that you're sleeping. so why do we leave so much untapped potential on the table? this is a next level bed, for a next level you. my circadian rhythm is kicking your circadian rhythms butt! it's not a competition. i know, but i'm still winning! so, it is a competition. save 50% on the sleep number® limited edition smart bed. plus, 60-month financing on all smart beds. shop now only at sleep number®. when we started our business

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welcome back to "street signs. the brics nations invited six makes to nations. south african president said the members would join on january 1st. >> in building the partnership with brics and we have tasked our foreign ministers to further develop the brics partner country model and a list of

prospective partner countries and report by the next summit. >> the big developments for the brics union. arabile, you have been covering the brics for years now. before you joined us on set, you said this was the most significant summit that you have covered. talk about the breakthrough. >> changes had to be made here they lost a sense of vision. when brics was formulated in 2001 with jim o'neill thought up the nations, it was meant to be the fastest growing economies to find a new way to develop and to counter the g7 the president said that is not what they want to be that is not their aim here

they are trying to find a way to work to their own interests. they are trying to organize themselves, quote/unquote, is what the president of brazil said president xi jinping and president putin are looking at the global south and trying to gain some sense of friendship with the global south in particular to get more influence in the rest of the world adding the six nations is interesting because it adds in members who some would ask why for example, ethiopia. ethiopia is the fastest growing nation in the world at present growth rate has been phenomenal. the president has instituted a number of measures that have helped the country grow whether it be technological, but the gdp has risen. you have egypt which is the third largest economy in africa and quickly getting to number

two actually in surpassing south africa very soon they are growing nations let's not forget of the geopolitical tensions and issues faced with the countries a lot of the countries also have u.s. sanctions which may give them a commonality >> i want to address the elephant in the room "r" is russia. they are saying let's bring on more countries to the economic alliance russia is the number one western aggressor in the western world what does this tell you about the state of international geopolitics with the likes of brazil and china and south africa willing to not just embrace the economic alliance, but keep adding to it? >> if you think of saudi arabia also added to the list, it gives you the clear indication that they are looking to counter the west in any way they can find.

clearly bringing up, you know, measures that even president vladimir putin where he said he was thankful to president ramaphosa for hosting the summit there seems to be a clic that is trying to maintain a sense of comra comradery. we are here for an important and significant reason to the world. we can offer a fair bit to this. we were talking about the bit of a cartel feel to this with so many oil producing nations part of the conversation. how much will the oil discussion and the minerals and resources discussion be a firm part of this let's remember the likes of the go g7 and g20 is not a large

mineral nations group. >> i wonder if that is what drew india over the line. modi has been an opponent of expanding and india has been trying to play both sides with the war in ukraine continuing to buy oil from russia modi had a visit to the u.s. trying to position as an al alternative to china with investment from u.s. companies and potential consumer market. it is fascinating to see india did come through in support. >> as you say, with him being against it, he was worried that the economic influence of india not just in the brics nations, but globally is a worry. if your interests are not necessarily top of the list when it comes to the brics nations, where else do you go to layout your issues and say what is your

investment case? the rest of the world or the rest of brics plus is invested in argentina which will be significant in the conversation from here on, too. you have to start looking at the countries they added uae. saudi arabia it is going to now be a question of are we going to look at their interests or is it just about trying to make sure the global south and emerging markets are looked after >> arabile, fascinating. thank you for coming on to talk about the latest developments. it is a busy week for narendra modi he has been participating in the summit, but he has become the first country to land a spacecraft on the moon's south pole modi joined in the celebration saying it is a joyous occasion >> very historic moment. elsewhere, you have the leader of russia's wagner group

who organized the attempted coup against vladimir putin, appears to have died in a plane crash. the plane crashed just outside of moscow on the flight from the russian capital to st. petersburg julianna, it is unclear if he was on the plane russian authorities say it was we take that at face value y if he did die in the attack, i saw a tweet yesterday who understands the motivations from russia, he said putin is a man who doesn't forget or forgive easily >> and on a similar note, president biden was asked about this on the visit to california. biden said he did not know what happened, but he said he is not surprised. there is not a lot that happens in russia that putin is not

behind elsewhere on the show, republican presidential candidates clash in the first primary debate of we will bring you the highlights after this short break we'll be right back.

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welcome back to "street signs. i'm julianna tatelbaum. >> and i'm joumanna bercetche and these are your headlines >> nvidia blows past expectations as sales double more than 800% and the chipmaker guide for gang buster growth to come sending shares sharply higher overnight the sentiment spills into europe with the stoxx 600 firmly in the green. the brics group is set to expand for the first time since 2010 as it invites six countries to join with the saudi arabia and uae among them >> the brics partner country model and a list of prospective partner countries and report by

the next summit. attention turns to jackson hole today as u.s. treasuries pare back amid hopes that jay powell may strike a dovish tone at the symposium we are live on the ground bringing you a key of fed voices the big event stateside yesterday with the nvidia earnings after the bell is driving trade in europe. you have the chip makers in the technology basket leading gains in europe after nvidia not only beat expectations, but delivered strong guidance for the quarter. expectations sky high in the results and the company delivered. on the downside, we are seeing performance in the basic resources down .80%. the bond market is an

interesting story the last few days we had very downbeat pmi yesterday in the eurozone and stateside. this led to a major rally in sovereign bond with yields seeing significant declines. yields continuing to move lower. bund trading at 2.48%. italian btp at 4.14% as investors try to understand this whether downbeat data will lead central banks to pause rate hikes and take a dovish approach it would be less restrictive turning to fx markets, dollar index is flat on the week coming into today's session investors waiting for the jackson hole sysmposium to kickoff. euro/dollar at $108.60 we have come down. you have dollar against the swiss franc and it is trading at

127.06 for the sterling. and u.s. futures strong for the nasdaq after the nvidia results after the close yesterday. 200 points higher indicated at this stage the dow and s&p looking to open marginally higher. eight republican hopefuls took to the debate stage overnight in an attempt to challenge trump. they clashed on climate change and other issues two said they would not support two funding for ukraine. candidates clashed on policy and personality as they tried to use the fox news channel debate to gain grounds on frontrunner trump. >> we need to send joe biden back to his basement

it starts with understanding we must reverse bidenomics so the middle class has a chance to succeed. >> i can say this. the climate change agenda is a hoax >> whoa. >> i had enough already tonight of a guy who sounds like chatgpt standing up here and the last person at one of the debates who stood in the middle of the stage and said what is a skinny guy with an odd last name doing up here was barack obama. we're dealing with the same amateur standing on the stage tonight. >> donald trump chose to skip the debate and rerecorded an interview with former fox news host tucker carlson which was released on x, formerly twitter. >> many people said you

shouldn't do them. you have seen the polls. i'm leading by 50 and 60 points. you know, some of them are at 1% and 0% and 2%. do i sit there for two hours or whatever it will be and get harassed by people that shouldn't be running for president? should i do that the network that isn't particularly friendly to me. frankly, they were backing ron desantis they have given up on him. it's a lost cause. i felt it would be more appropriate not to do the debate i don't think it is right to do it if you are leading by 50 or 60, at one point i'm leading by 70 points and saying why am i doing this and have eight or ten people whoever made the debate screaming at me and shouting questions at me? all of which i love answering and love doing, but doesn't make sense to do. i've taken a pass.

>> that was former president trump speaking to tucker carlson ahead of the surrender to georgia authorities. we have brie jackson with more about this story today this could take attention away from the republican debate yesterday on stage >> reporter: it certainly will good morning we do expect it to draw attention today when former president trump turns himself in at the fulton county jail. former president said he plans to do so later on this evening he will be surrendering ahead of the friday deadline which was set by georgia prosecutors mr. trump faces charges related to efforts to overturn the 2020 election resultresults. his bond was set at 2$200,000 ad included what he could not post

on social media. so far, nine of his 18 co-defendants have turned themselves in. they were indicted in the case and booked at the fulton county jail latest is rudy giuliani who turned himself in as well as jenna ellis and sydney powell. giuliani, yesterday, maintained his innocence saying the charges will be proven to be a hoax. meanwhile, former president trump supporters will plan a protest outside the courthouse the sheriff's office said it is planning to have a hard lockdown outside of the area surrounding the jail when the former president turns himself in later today. it is quiet now, but we expect a different scene when former president trump turns himself in >> brie, thank you for the

breakdown. julie norman at ucl joins us now. wonderful to speak with you, julie. based on what you observed in the primary debate last night, has anything happened or has any candidate say anything that significantly changes the extra je -- trajectory based on the polls here >> good morning. i think all of the candidates were trying to take advantage of the fact that trump was not there to establish substance and style and distinguish themselves somewhat ramaswamy came out energetic we saw differences on key issues with ukraine and foreign policy and abortion i think the bigger question is if any of that matters at the end of the day trump has a commanding lead in the polls right now as you stated in the upper 50s dwarfing

his candidates the question is if the field stays this crowded and if anyone can breakthrough and make a dent in the primaries. >> when you look at the candidates momentum-wise, ramaswamy has been strong in terms of momentum. during the first hour of the debate, the attacks centered on him. is this a reflection of the other candidates seeing him as the biggest threat >> i think it partly is. going into the debate, the person polling highest outside trump is desantis. ramaswamy is in single digits. he has had momentum and impressing crowds and media and talk shows so, many saw him as the one to go after in the debate you saw that the thing is he was ready for that and quick are retorts and jabs and seemed to relish the

moment and seize the aattention. desantis, on the other hand, many thought would be the target instead, he stayed calm and collected. he did not make gaffes or mistakes he did not take control of the debate as many thought he would. >> julie, do you think any of the candidates are making a big push, not necessarily to become the republican candidate for president, but potentially to become former president trump's running mate as vice president >> that is a fair question most voters are aware of that looking at the polls if you ask the candidates, they will say they are in it to win it they are seeing themselves as having the credentials for the presidency and seeing this as a presidency which should not go to trump this time around. in reality, again, if the polls

stay the way they are looking, you are looking for vice president candidate or high level in the administration. the other issue is many candidates are still young ramaswamy is the youngest and haley is a four-year candidate if they don't break through, many are sending a strong signal they want to be part of the administration. >> it is notable if they would support trump, all raised their hands with the exception of chris christie and asa hutchinson one other thing that stood out to me was a change in discussion for foreign policy china comes up a lot and the need for being hawkish on china. you have different views on the platform how will this change potential

leadership in the united states if it change from democratic to republican, how it will change military assistance in the future >> we don't speak about foreign policy in the primaries. this is one where we see a range of opinion in the gop which range from mike pence and nikki haley. ranging to isolationist view from ramaswamy and trump and then desantis who is restraint and ramaswamy calling for negotiations it reflects what i think is a split in the elect torate. we should expect a shift on

foreign policy in ukraine in particular >> julie, is there a single issue that matters most to the republican voter this time around thinking back to 2016, immigration was a core part of the trump campaign what about this time around? is it abortion >> i think abortion will loom large. democrats will try to make it a bigger issue we saw differences on if republicans should push for a federal ban. you see that with abortion and culture wars ramaswa ramaswamy had well received words are privilege. at the end of the day, many issues will push voters on immigration and crime for republican voters and the economy and how that is going at this time. next year makes a big impact on

how the swing voters move when it comes to how they vote. >> another question as it pertains to trump handing himself in to atlanta today. i'm not sure if you heard the reporter outside the courthouse here this is a big deal indicted four times. numerous accounts on felony charges. if trump is formally convicted, what does that do to the race? could we be in a situation where trump is going through criminal proceedings, but still the frontrunner for the elections? >> absolutely. i think we're pretty much preparing for that as you noted, trump has four cases of indictments most of those will likely be in the process of litigation next spring at the same time as the primaries. in some ways, i see trump trying to use this to advance his campaign it has helped him gain traction

by painting himself as a victim of the federal government and witch hunt my guess is he will simply use the proceedings as a campaign ploy it will complicate things as many see the unprecedented situation where we could see a nominee and contender going through this at the same time. he can still run and be elected with a conviction. we heard other candidates say most republicans would still support him and support his nomination even if that was the case. >> pretty startling times if you think about it historic moment for u.s. history. julie, thank you for joining us. julie norman at ucl. also coming up on "street signs," jackson hole summit kicks off today. many key officials will be there. we will tell you what to expect coming up next

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welcome back to the program.

let's get a check of u.s. futures and where wall street stands to stand at this stage. wall street with the dow and s&p looking to open higher getting a big boost from nvidia after the bell in terms of the treasury markets. 10-year treasury at 4.18%. not a lot of change on the morning. u.s. 2-year treasury at the front end trading at 4.196%. cnbc will be on the ground at jackson hole as the economic symposium kicks off later today. we will hear from patrick harker and loretta mester and austan goolsbee jay powell will speak on friday. interest rates are expected to top the agenda as well as inflation. i'm happy to say david henry is

joining me good morning, david. you know, if you fast forward, not fast forward or rewind back to inflation levels at 8% or 9%, it was straight forward for the fed chair to say we are resolute to fighting inflation and bring it back to target. now with inflation at half of the levels and heading in the right direction, the message is more fine tuned. what are you looking out for here >> thank you i think you are absolutely right. a lot of ways, his speech wrote itself last year the fed had to be open to bring down inflation and clearly the world has changed. there is really good progress and bringing inflation down. i expect to see him keep the language as open as possible i think he'll probably want to try to keep the debate away from whether this september meeting is going to be a pause or

whether it is another hike and really try to put the discussion a lot further down the road. i think traders will be looking for signs about future interest rate policy. clearly will rates stay higher for longer is the fed at the first sign of trouble to become p more accommodative and reduce rates again? >> before we came out here, we took a look at u.s. treasuries highest level in 16 years. how closely is the fed monitoring what is happening in the long-term yields >> hello >> david, can you hear me? just making sure you heard my question about whether or not the fed is monitoring how much long-term yields are moving. it looks like we are having a bit of technical difficulties with david julianna, to go back to the

jackson hole meeting it will be challenging to come out resolute in the fight against inflation because they have done a lot or inflation has started to move down in the right direction. the key for markets is what signal they give about how long they expect rates to stay high because as we spoke about it this week, markets have shifted on the first rate cut. what he says tomorrow could influence the expectations >> it feels like jay powell has been keen not to signal anything that sounds too dovish about rate cuts next year. he wants to control the narrative and doesn't want to run away with the major pivot. whether that is what he believes is going to happen or he is trying to contain that potential exuberance remains to be seen and investors are pricing in rate cuts. >> what is interesting in terms of rate hikes, markets is not

moving in a rate hike this year. the markets are saying it is more likely to happen in october than september which gives us a bit of time to assess the data that has come through. david is back with us. david, i asked you whether or not you think the fed is monitoring closely the move up wards in yields? we are seeing 16-year highs now. >> i think jay powell is not absolutely devastated with the higher move in the 10-year the short end is higher as well. it gives him a bit more breathing space, i suppose, and the market has not bought this higher for longer narrative for the time being i think that will move higher and gives him a bit more cover and scope to reduce rates in due

course and turn away from the higher for longer. i think ultimately the easier call here at some stage when we get a wee bit of economic difficulty is to get rates more accommodative and we have a wee bit more room to do that. >> david, can i get your take on u.s. equity markets and likely reaction we will see if we get a strong signal that the fed is nearing the end or finished with the rate hiking for now. what is the likely relationship going to be between u.s. equities and the policy? >> well, i think in terms of the equity markets, if it worked in the first six months of the year, it will be similar we did some work here at quilter cheviot in the 12 months

following the final interest rate rise of the cycle what we find is inconclusive from the end, the final rate hike of the cycle, equity markets incomes is pretty wide it is not much of a signal, to be honest. as a private client, my advice would be if you are based investment strategy based on what nine people are or aren't going to do, you need a new investment strategy. >> david, thank you for joining us today hopefully we will have a smoother time with the transition david henry. >> our jackson hole coverage will kickoff today steve liesman will speak with patrick harker at 4:00 p.m we will hear from loretta mester and austan goolsbee tomorrow the big story overnight is not jackson hole, but nvidia

we have been speak being about chipmaker coming off a high base beat expectations for the quarter and earnings and ins terms of the look ahead and outlook. this is where we are looking now in terms of pre-market trade up 8%. that is boosting sentiment with other chipmakers reacting positively >> we spoke to a guest earlier from hsbc and they raised share price target to $800 yes, this stock has more than tripled year to date some analysts think there is a long way to go that is it for "street signs." i'm julianna tatelbaum. >> i'm joumanna bercetche. "worldwide exchange" is coming up next.

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it is 5:00 a.m. here at cnbc global headquarters. here is the "five@5." living up to the hype. nvidia stock pushed to the fresh record high and taking futures along with the ride. and the federal reserve kicks off the jackson hole symposium today. powell is speaking tomorrow. we will see if the chairman can pour cold water on the stock pop. rough week for retail. one extending the longest losing streak since