dom. >> bertha coombs, thank you.r of states thatbraced for cuts over fears of declining tax revenuvenue is finding the opposite they are increasing spending as well ylan mui is joining us with more >> reporter: dom, we talked about the stimulus checks and child tax credit payments. all of that money is coming from uncle sam. what gets less attention is what is happening at the state level. 20 states have cut taxes this year some through stimulus checks others expand tax credits. reductions in corporate, property and sales taxes 11 states have lowered income tax rates. that's the most states cutting income taxes at one time in at least two decades according to the tax foundation most of the states are led by republican governors nebraska, arizona, idaho enacted the biggest tax cut ever also on the list is wisconsin. just last month, democratic governor approved the state's budget including a $2 billion tax cut champion by the gop lawmakers. this is a different place than most states thought they would be in when the p

bertha coombs now is back with those. bertha, what else is happening on thursday morning?n, cvs stopped offering the j&j single dose covid-19 vaccine in pharmacies saying the shot is only now available in 10% of the retail vlocations. the comments to cnbc, they said they made the change, but will continue to offer the pfizer and moderna vaccines nationwide. i believe it is an issue of demand more people looking at mrna. >>> ford and gm's parent stellantis will report that come 2030, 40% of the sales will be electric vehicles. the announcement during a white house event scheduled this afternoon. something the president has already teased on twitter and see detroit's big three calling for billions in assistance to meet aggressive targets. don't miss bpete buttigieg this morning on "squawk box." and remember elon musk was not invited. >>> and weber grills pricing the ipo of $17.9 million shares at $14 a piece. that is below the expected range. weber sales are set to trade on the new york stock exchange under the symbol webr. i can already see the headlines, brian, if it does

at $63 jud just under that at $62.94. >>> let's get a check of the headlines with bertha coombs she is >> brian, wells fargo reversing the course to end the personal credit lines amid growing backlash cnbc reporting last month the bank informed customers that revolving credit lines would be closed following the review. warning that could impact users credit scores. that did not sit well with customers. wells fargo now says it will keep the credit lines available for those who actively use them or want to reactivate old ones it will not offer the product to new customers. >>> the s.e.c. has charged three former netflix employees with insider trading. the former software engineers and two associated made over $3 million by shaving confidential information. it says the group allegedly made trades ahead of the earnings announcements between 2016 and 2019 >>> and disney unveiling a new app aimed at easing the pain of planning the trip to the u.s. theme parks. genie will allow visitors to schedule reservations and pay for food and see current and forecast wait times. like anything good in li

bertha coombs is here. i have been waiting to say big deal in chicken. it is finally here >> reporter: you are relishing that let's start off with goldman sachs. dowgrading the growth forecast for china as efforts to slow the covid outbreak could hurt spending in other areas of the economy. in the note out last night, goldman expects china's full year gdp growth to hit 8.3% down from the estimate of 8.6%. annualized growth for the quarter should hit 2.3% down from the previous 5.8% estimate. >>> virgin atlantic is planning to list itself on the london stock exchange according to sky news the british airline founded by richard branson received positive responses about the ipo. one that would see branson relinquish control of the business. >>> big chicken. sanderson farms nearing a bdeal to sell itself for $203 a share. a 30% premium to the closing price on friday. according to "the wall street journal" it is in talks with continental grain. the deal for the third largest chicken producer could come as soon as this morning, brian. wondering if there is a b

let's unravel it bertha coombs is back with more.ope your supply of champagne is solid >> my champagne is just fine, brian. i have one right now in the fridge almost. next to it if you ever wanted to be on a netflix reality show, the service says now is the time it's unveiled a site called netflixreality.com you can submit a one-minute video to audition for the popular shows, including "queer eye" and "love is blind. show off your fabulous self. no ring light or no slam y glam meantime lamborghini is bringing back the famous name plate countach this is the 50th anniversary of the super car. the company has put out a teaser video showing a wedge shaped mode el. the car is expected to be revealed in the next several days in monterrey. and the soda is a small fraction of bitcoin amc will accept the payment for tickets and concessions likely by the end of the year i.t. staffers are writing the code to use apple pay and google pay at some point. i didn't know that apple pay and google pay were quite as advanced and esoteric as bitcoin. st

bertha coombs. >>> time now for your big money movers four stocks moving at this hour. hp the pcmaker reporting better than expected third quarter earnings and keying in on a decline on printers, supplies, workstations and notebooks from the previous quarter that's largely due to parts shortages and the company is selling everything it can to produce shares down 3% >>> stock, too, is work day. the business software and the company is raising its guidance for this year. the workday citing demand from larger enterprise customers. shares are up from around 6% >>> take a look at marvell technology the second quarter numbers beat forecast the company also issuing a very bullish outlook for its data center business which now accounts for 40% of revenue. >>> finally, ollie's bargen outlet the stock is tumbling same-store sales falling 20% and citing supply chain issues that's a common theme this earning season stock down 14% >>> we're also watching chinese internet stocks been a highly volatile week and issuing draft guidelines on algorithms to make recommendations to users it

another big bank telling its employees you get the job or you can home bertha coombs is here and joinss with more good morning. >> good morning, brian the u.s. department of energy is reportedly nearing a deal to buy a super computer made with chips from nvidia and amd as the department waits for an even larger super computer from intel that's been delayed for months according to reuters, the joint nvidia -- amd machine called polaris will not be a replacement for the intel-based computer, instead it will serve as a testing platform for key software and hardware that the government plans to run on the intel super computer upon its completion >>> goldman sachs is now telling employees that as of yesterday anyone entering its u.s. offices must be fully vaccinated against covid-19 according to an internal memo, the bank is also requiring that masks be worn in its office, regardless of vaccination status starting today fully vaccinated employees will also start receiving weekly covid tests starting september 17th or just after labor day >>> and china is reopening its may shun terminal afte

bertha coombs, thank you very much. >>> let's continue the discussion around the fall of afghanistan.ts loss to the taliban is a tragedy on so many levels, particularly for many of the women and children now living in fear for their lives that is obviously the most important thing in all of this there's potentially huge economic story here long term. afghanistan is thought to be very rich in so-called rather pirt minerals. everything we need to power our electrified future china has tharp sights set on them frank, it's good to have you on "worldwide exchange. thanks for getting up early. what do we know about afghanistan, lithium and rare earth minerals >> thanks, brian thanks for having me on. we've known since 2010 about the significant minerals endowment that afghanistan holds what's really is it's increased in value lithium is one of the critical elements that's necessary to power the clean energy future. so we've known about this endowment for quite some time. what's really been a headwind against the development of those resources was, one, demand wasn't what it is today and, se

i am bertha coombs. the private sector hired fewer people than expected in july, and big government jobs number on friday, we got recent economic data and corporate earnings that shows the economy has been strong but some are worried maybe job gains and growth could taper off from here. we will get the numbers on how many americans are filing for unemployment benefits. meantime american airlines will let passengers watch 30 minutes of tiktok videos in the air for free. if you don't have the app, american says you will also be able to download it for free. there's a catch. the offer is only available on flights that have the one particular wi-fi system. spacex has open positions being advertised for cooks, baristas and can you imagine mixing up a margarita and elon musk is there. aren't you hoping it's just right. >> a lot of pressure. >> it is. thanks, bertha. >>> happening now, spirit airlines is struggling to rebound from days of cancelations. more than 60 percent of spirit's flights were canceled on t

i'm bertha coombs from cnbc. dow posting a gain now for four straight sessions while the s&p 500 and the nasdaq, closing again at record highs. strong corporate earnings are helping to offset some doubts about the economic recovery amid the spread of the delta virus in some areas that may be causing a little cutback in consumer opportunity. revised estimates on second quarter gdp or economic growth. google, microsoft and other big tech companies are promising to boost cyber security after meeting with president biden, the meeting coming after a series of high profile cyberattacks. google will spend $10 billion over five years and train 100,000 people in fields such as cyber topics. amazon web services will give users tools to better secure their data. the way americans invest, meantime, is changing. a new survey finds that 18% of people use an automated investment platform or robo advisers, they are more popular among millennials, and 21% use social media, and i would say, you know, if you are looking for online

i am bertha coombs. the nasdaq and s&p 500 fell about 1%. move comes after the federal reserve released the minutes from its last meeting, and it shows officials are starting to make plans to reduce the massive amount of monetary support they provided during the pandemic and they are looking at a timeline starting maybe at the end of this year. the fed says inflation has hit their target but employment still has a way to go before they would consider actually raising interest rates. we will get more data with that regard and the latest number for those filing for unemployment. and wells fargo doing an about face following massive customer backlash. customers asked the bank to keep their accounts open to avoid any inconvenience. others were concerned about the impact the decisions would have to their credit scores. a wells fargo spokesperson said the company decided to keep the products available for those who actively use them or want to reactivate their old lines, but they will not offer credit lines to new customers. in the meantime, disne

i'm bertha coombs from cnbc.l street looks to open flat after the dow and s&p 500 pulled back from record highs yesterday on concerns about the resurgence in covid cases. energy stocks really led the decline as oil prices dropped 4% amid fears covid cases could lead to a global slow down. recovery related stocks like norwegian cruise line and united airlines were down. this morning we're going to be watching for a report on worker productivity and labor costs, both of which have been rising. meantime amazon is going to be paying customers who suffer injuries or property damage from defective goods that others sell on its website in a new policy they hope will reduce lawsuits. for years consumers have sued amazon claiming it's liable when a merchant sells a bad product on the site. amazon maintains the sellers are the ones responsible and most courts have sided with the retail giant, but starting september 1st in an effort to try to pair down these lawsuits they're going to pay valid claims up to $1,000 which make

i'm bertha coombs from cnbc. what's going to be driving the day today, the jobs report.s jobs friday. we're expecting to hears the numbers for just how many jobs were created in july. you know, despite an increase in covid cases and shortage of workers, economists are expecting that economy saw more job growth last month. the forecast, the consensus, is for 845,000 new jobs to have been added in july with unemployment dropping from 5.9% to 5.7%. but there is a wide range of system, some economists are only looking for 350,000 at the top end, 1.2 million jobs. so usually not quite that broad. it really reflects the uncertainty we're seeing across the country with this covid variant surge that's happening. stocks yesterday closing higher. the s&p 500, in fact, high. meantime lyft is launching an annual tier for its lyft pink milpitas program. the new plan costs $199 a year. that's a $40 discount over paying month to month. the biggest perk is a 15% discount on all car rides. you also get an unlimited number of 45 minute bike share rides on classic or nonelectric bikes as w

i'm bertha coombs from cnbc.chool day on wall street and we're looking like we're going to open mostly lower after stocks rose on friday after that better than expected jobs report. that is prompting talks that the federal reserve could start to pull back on its monetary support of the economy sooner rather than later. the dow and s&p 500 closing at record highs on friday, but the nasdaq tech companies largely rely on lower interest rates to help borrow money to expand their businesses. in focus we're going to be watching for signs of inflation. we'll get reports on both consumer and producer prices. meantime tesla has confirmed that it is pushing production and release of its electric pick-up the cyber truck to next year. electric reports it says on tesla's website, you will get to customize your truck when production, quote, nears in 2022. earlier this year ceo elon musk said there would be a few cyber trucks delivered this year, but during a live conference call he said not likely. the delay could pose a compe

i'm bertha coombs from cnbc.l street is set to open higher following a down day for the markets. the dow snapping a four-day winning streak and the nasdaq and s&p 500 broke five days of gains. the move coming ahead of the federal reserve's annual jackson hole symposium, which is happening today. they won't be hiking or sitting this year. it's virtual this year. jay powell is the headliner speaking and investors will be listening for clues about when the fed may reduce its massive monetary stimulus to help support the economy during the pandemic. traders are monitoring the latest news out of afghanistan. also in focus this morning we'll be getting data on personal income and spending and we'll get a report on consumer sentiment. meantime microsoft is warning thousands of its cloud customers, including some of the world's biggest companies, that their databases may have been exposed to hackers. reuters reports microsoft is warning of a major flaw in its azure service which could allow intruders to rechange and dele

i'm bertha coombs from cnbc. wall street looks like it's going to open slightly lower this morning.t a record. the dow jumping nearly 280 points, the s&p 500 closing at its 42nd closing record high of the year. investors shrugging off a drop in the yield of the 10-year treasury bond amid concerns of the spread of the delta variant and comments from a fed official that central bank could start reducing its extraordinary financial support for the economy as soon as october. it's really the flurry of good reports on earnings that's fueling this market. this morning we'ring with a on economic reports on hiring in the private sect from adp and earnings from general motors, cvs health and uber. lyft meantime hitting a milestone as the ride sharing company reports a quarterly profit for the first time in its nine-year history and three months ahead of target. lyft is warning that ride revenue will likely decline this quarter due it worries over the spread of the delta variant and the ongoing shortage of drivers. lyft and uber have struggled to increase the number of drivers prompting them

i'm bertha coombs from cnbc.l street set to open lower after stocks fell sharply yesterday following a weaker than expected retail sales. that sparks worries about the potential for the economy slowing. retail sales fell largely due toing by a drop in auto sales. the dow snapping a five-day winning streak following 282 points dragged down by a 4% drop in home depot. we've got somebody reports from earnings, companies, other retailers looking pretty good. we're also waiting for a report on housing starts. later today minutes from the federal reserve meeting, earnings from target and lowe's. so far better than expected and they've actually both raised their forecast for the year. >>> youtube meantime is introducing a few new features to help improve the search experience. the biggest tool may be the ability to view the search results page. they've allowed users to break longer videos into separate chapters so users can find specific information they're looking for. they were only visible when you clicked on the vid

that's not happening for a handful of retailers bertha coombs has the numbers. bertha >> reporter: kelly, retailers say they're facing supply chain cost head winds and conventional wisdom may make you think that's going to hit their profit margins. but it's not dick's sporting goods blow-out quarter fueled by record sales at mostly full price, even some price increases. the ceo crediting the switch away from print to digital advertising in part for allowing them to be more strategic when it comes to markdowns. the result growth margins of nearly 40%, up five points from a year ago, six points from 2019 at urban outfitters a similar story. record low levels of markdown at their flagship urban outfitters unit and anthropology stores and on the call executives say they've raised prices on higher ticket items to recoup the higher supply chain costs. 37.6%, up five points from a year ago and five points from two years ago in 2019. luxury retailer nordstrom supply chain disruption has meant shortages in some categories and less discounting even with the anniversary sal

bertha coombs has the latest >> meaty i see what you did there thanks, dom.et vaccinated by october and that offer applies even if you've already gotten the jab before this announcement vanguard is not allowing unvaccinated people to enter its u.s. offices and recently announced a hybrid model allowing most staff to work remotely on mondays and fridays. meantime, those are the companies all paying to get vaccinated ours is not one of them. >>> a new netflix documentary will follow spacex's first civilian mission this september. the five-part series will follow the four launching into space for a three-day orbit. >>> if you've ever wanted your home to smell like ikea's swedish meatballs without having to heat them up, you're in luck. the furniture warehouse is offering a new scented candle that smells like the iconic swedish meatballs. it's aimed at recreating the senses which i said to that one way long hallway you have to get out of they don't let you walk through that store. >> they put the cafeteria near the exit. >> you're starving by the time you get the

i am bertha coombs from cnbc. the nasdaq is pulling back and the dow higher at the start, and the dow coming off of four straight winning sessions, and the s&p 500 and nasdaq closed again at record highs. strong corporate earnings are helping to offset doubts about the spread of the delta variant and what kind of impact it might have on the economic recovery, especially in areas where we are seeing a big surge. we are getting a report on the number of people filing unemployment benefits and a resized estimate on second quarter gdp or growth in the economy. some are surprised about interests in working from home, but they have seen workers can be productive at home or anywhere. sales force is giving employees lots of flexibility and more than half of the staff will be working pandemic. instagram is allowing users to look for content based on topics instead of account names or hash tags. that will make the app more like pinterest with a grid of photos and videos related to the search. instagram says its still workin

bertha coombs has a look at whether that's even legal. bertha >> that is the question, jon under the affordable care act, health plans can't discriminate against you based on health status, but they can charge you more if you smoke because of potential associated medical costs. elizabeth rosenthal and stanford professor glen kramen argue people who remain unvaccinated could also pay a surcharge because if they're hospitalized with covid costs could easily cost six figures health insurance plan says insurers are still very much focused on incentives rather than punitive measures to get people immunized but they'll make you pay more than last year if you get sick now. employers and insurers have mostly cut out those covid cost waivers, so now you'll face big co-pays for hospitalization. while courts have upheld vaccine mandates for more than a century now, texas sued a hospital, lawrence dossen told me the courts would likely reject a surcharge on the unvaccinated under the aca. he argues that kind of blame and shame would pose a slippery sl

our bertha coombs is back with those. >> hey, frank. from some of the country's biggest companies are committing billions to help strengthen cybersecurity president biden meeting with ceos from apple, microsoft, google, ibm, jp morgan, and bank of america yesterday to discuss the matter following several high profile attacks in recent months microsoft committing $20 billion over five years to deliver more advance security tools while google is pledging $10 billion over the same period to strengthen cybersecurity that company along with ibm saying they'll train 100,000 americans or more each in fields such as it and data analytics. meantime, the biden administration is also apparently shifting the time line now for when americans may be able to get the covid-19 booster shots. according to the "wall street journal," regulators are likely to suggest fully vaccinated people should get a third shot six months after their previous doses rather than eight months previously announced by the white house. the journal says the potential move stems

i'm bertha coombs from cnbc.all street looking like it's going to open higher after a down day for the markets. the dow snapping a four-day winning streak, the nasdaq and s&p 500 breaking a five-day streak. the move coming ahead of the federal reserve's annual jackson hole symposium. this year they're not among the majestic tetons, it's virtual. fed chairman jay powell is the headliner today, speaking. investors will be listening for clues about when the fed may reduce its massive monetary stimulus that helped support the economy during the pandemic. traders are also monitoring the latest news out of afghanistan and we've got some data on tap this morning. we'll get reports on personal income and spending and we're also get a read on consumer sentiment amid the delta surge. >>> apple is change something rules for the app store as part of a proposed settlement of a class action lawsuit followed by app developers. the significant changes clarifying that developers will be allowed to inform users about ways to pay f

(uplifting music) >>> we've got an earnings alert on nordstrom let's get to bertha coombs >> nordstrom big numbers. more than 20 cents better than the estimate 3.66 billion in revenues with 9% above expectations trouble is that was still down 6% from its sales of 2019. still, 35% gross margins also beat 1.5 percentage points better on lower markdowns. on the call, the ceo said that loyalty club members contributed to 70% of q2 sales and that it was a driving force for the anniversary sale while the cfo noted that in-store sales are coming back. the anniversary sale revenues up just 1% of 2019, but helped drive sales of higher margin non-event merchandise with designer sales above 2019 levels shoes and dresses among the strong categories. citing freight and labor cost pressures. though they are expecting that to continue, they see the sales momentum remaining strong and e expect full revenue growth to be above estimates. they've talked about it being potentially lumpy because the whole issue of supply chain is tough for them they had to bring stuff in faster for the anniversary sale and

i'm bertha coombs from cnbc.ot stocks set to open lower after falling sharply yesterday following a weaker than expected report on retail sales which is sparking worries we could see the economy slow down. retail sales fell more than 1% last month largely due to a big drop in auto sales. the dow snapping a five-day winning streak falling 282 points dragging down by a 4% drop in home depot despite the fact that home depot brought in better than expected earnings. we're awaiting a report on housing starts and later minutes from the fed's meeting last month. also, we've got earnings so far from target and lowe's which are better than expected and both are actually raising their outlook for the year. meantime mastercard is phasing out the use of those magnetic strips on its credit and debit cards over the next decade as it shifts towards more secure methods such as chips and contactless payments. the magnetic strip technology dates back to the 1960s. it's that old. mastercard says the transition will begin in europe

. >>> on the news tonight, i will be filling in for shep smith and bertha coombs reports on coaxing vaccine shot that's at 7:00 p.m. eastern time hope to see you there. >>> homeland security secretary may mayorkas visiting the border, saying surges at the border are nothing new. >> the iowa state fair, i've been there there's a lot of meat on the stick. tyler mathisen, thank you. >>> he made his fortune in fashion. now lawrence stroll is trying to apply that same formula for s. in the auto industry hi strategy is straight ahead. >>> as we head to break, here is another check on today's after-hours earnings movers. disney shares surging after a big beat airbnb, doordash and sofi, all lower after reporting results. stay with us you founded your kayak company because you love the ocean- not spreadsheets. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire ♪ - [announcer] introducing the grubhub guarantee, our promise to deliver your order on time within the delivery window and for the lo

buy shares rallying after reporting better than expected earnings and raising same-store sales bertha coombs has the details. >> best buy didn't just beat expectations, the comparable sales up 20% from 2020 when we saw the big-tech buys surge. overall revenues were up 24% from 2019 with operating income also more than doubling as the company has fewer stores and a smaller workforce. supply disruption? not a problem. the ceo says they concentrated on bringing in as much inventory as they could, and look to be in good shape for the holidays. bebuy looking to take on amazon with exclusive deals and unlimited geek squad support, which is more important when people have to work from home. >> bertha, thanks so much for that one, up about 8% or so today. mike, how has it done over the long term? i guess it plateaued a bitover the last few months. >> it has. like a lot of those perceived beneficiaries, it paused a bit actually sales have been a bit flat >> which, you know, made a tougher road. do you know that 7 on% of results are using a vision correction >> that's a high number. i'll get there >>>

. >> that was nbc's tom costello reporting and for more let's bring in bertha coombs. what you got?orning saying they're not seeing that. both reporting better than expected sales and earnings. ceo saying they're not seeing a slow down and consumers are physically out and shopping for back to school and expecting a strong holiday season which is a big issue. there's so much supply disruption with china shutting down the third busiest port due to covid and could pay to shop early. meantime the markets are coming off a down day after a drop in retail sales last month. july sales fell 1.1%. that caused the dow and the s&p 500 to snap a five day win streak easing back from record highs. this morning looks like a muted open slightly lower overall and tesla meantime is under fire. autopilot feature is being investigated. they opened that probe into the company's so-called self driving system after nearly a dozen crashes ip colluding some according to agency vehicles crashed into first responder cars. senators blumenthal and markey asking the federal trade commission to look into the compa

really has been a tale of mixed retail bertha coombs has the detail what is behind the big calls in the stock? >> they faced higher wage and shipping costs, but they have less room to pass those costs on >>> gross margin juan in line, but the discounter warning higher shipping costs will eat into profits dollar general bead on sales earnings and comps, but executive sees headwinds continues. on staffing the ceo said the end of the enhanced unemployment benefit has made hirlg easier, but on the other side it's impacted sales a bit because some of theircustomers have cu back so it's a mixed bag for them you know she said we had a great quarter, which they did. if you look at the sales growth, profitability, and she's not seeing any slowdown in the current quarter, so these retailers are seeing big moves in either direction. oercht williams sno-- on the ot hand williams sonoma was up. >> best buy with really remarkable information better. so ross stores not so great. you have winners and losers, market share gainers and market share takers dollar tree, of course we know that the freight co

. >> big sporting goods out with quarterly earnings let's get to bertha coombs >> reporter: blow-outrting earnings of $5.08 a share nearly double the estimate on the top line a record 3.27 billion in sales lacking a very strong quarter and 45% from 2019. 30% of that was driven by digital sales. evidently they are not seeing the kind of supply chain disruptions some retailers are talking about, the company is raising its full year outlook for the second time this year and ending the quarter with 2.4 billion in cash on its balance sheet. significantly raising its capital allocation declaring a special dividend of 5.50 per share boosting its regular dividend by 20% and doubling its stock buy backs to a minimum of $400 million shares up 8.3% in response to that report, melissa in the conference call later on this morning. >> keep us posted. thank you. coming up, mike novogratz on the market and the crypto market. minority leader kevin mccarthy joins us to discuss the fate of the infrastructure bill and the president's agenda >>> welcome back to "squawk box" the. futures right now have tu