i'm dominic chu in for frank holland. get the check of the futures with the nasdaq and s&p riding a three-session winning streak. wall street continues to move with 5% and 15% off the record highs. you see the s&p is now implied higher. the worst still happening for the magnificent seven. the group is struggling to find its footing. take a look where we stand from the 52-week highs. as you can see, tesla down roughly 29% from its recent highs. nvidia down 22%. amazon down 17%. apple 8%. meta, the out performer, off 5% from its recent highs. this is all as investors gear up for a pair of inflation reports over the next two days. right now, checking in on the bond market, the ten-year note re yield at 3.92%. the two-year note is 4.02%. we are watching crude oil prices coming off a bit after hitting their highest levels in two years on rising middle east tensions. right now, benchmark crude prices are $79.91. the iea is keeping the demanded forecast unchanged, but trimming the outlook for the next year. home depot reports at

i'm dominic chu in for frank holland. let's check on this half hour. dow implied higher by 67 points and s&p higher by 81 points and the nasdaq higher by 48 points. we're digging into the market action right now for the major indices. over the last week, we could be due for a banner one. the one-week chart of the dow, s&p and nasdaq, you can see the action. everything is positive. dow up 2.5%. s&p is up 3.5%. the nasdaq is up 5%. that is the real standout. that is where investors and traders have been putting most of their attention for buying on that dip a couple of weeks ago. it is in the technology trade. sector wise, there is no down sector over the course of the past week. all 11 are in positive territory. as you might suspect, it is technology and then consumer discretionary are the best performing sectors there and financials as well. three of the best performing sectors more cyclical in nature. tech, financials and discretionary. it is something to watch. with regard to the stocks that have been bouncing the biggest, three in particular, have b

i'm dominic chu in thisweek for frank holland. up the check on the equity futures with the s&p riding a four-week losing streak. the longest since september. at this stage, the futures indicate a stable open. nothing spectacular up or down. stable. the dow implied higher by 12 points. the s&p higher by 3 points. the nasdaq up by 21. again, modest moves. we will see if it stays that way heading toward the opening bell. within the bond market, yields are ticking higher. the ten-year yield hovering around the 4% mark. ten-year at 3.97%. the two-year yield at 4.053%. the 30-year long bond ticking lower to 4.224% as well. keep an eye on the rates. oil is coming off a wild week. the best since march. right now, u.s. benchmark west texas intermediate is $77.65. a 3% gain. $80.30 for ice brent. keep an eye on oil prices. investors could get a real sense of the health of the u.s. economy this week with reports on the consumer prices and retail sales. we get earnings from some of the biggest retailers out there. including home depot and wal

i'm dominic chu in for frank holland on this friday.et's kickoff this friday morning in the middle of the global selloff after the nasdaq and s&p and dow jones all closed sharply lower. down 1% across the board. right now, futures are on the offer. you see the s&p 500 is implied lower by 52 points. dow lower by 264 points and the nasdaq down by 307. investors appearing to be digesting a new market narrative in the past 24 hours. one where a soft landing for the fed is anything but a guarantee. a number of consumer red flags and earnings calls and fears the a.i. trade may have actually hit a peak. the s&p is set to open lower by 1% or more. the look at the biggest pre-market laggards in the trade today. intel down 22% in extended trading. amazon down 8.5%. booking down 7%. micro chip technologies down 6%. we'll have much more, by the way, on the intel story, in a moment. we are watching the bond market ahead of the big july jobs report with the ten-year yield falling below the 4% mark for the first time yesterday since february. the two-

i'm dominic chu in for frank holland this week.he s&p and nasdaq coming off the fifth positive session in a row. futures indicating it might be -- might be six the dow is implied by 85 points higher s&p up 4.5 points and nasdaq as high as 32 we are looking at the pre-market gainers. cisco getting a boost on the back of the earnings report and fresh job cuts nike shares rising following the stake from one high profile investor walmart shares are higher ahead of the earnings report later on this morning we have more on all of those stock stories coming up in the show we are checking on the bond market as investors prepare for jobless claims and sales data before the opening bell. the ten-year note yield is a hair over 3.84%. the two-year note yield at 3.96%. the 30-year long bond ticking higher at 4.129% u.s. oil prices coming off the second straight negative session. we are seeing green on the screen right now wti is $77.43. similar percentage gain for ice brent crude. $80.17 gasoline futures up .2% to $2.32. >>> we are following a

i'm dominic chu in for frank holland this week. let's kick things off with u.s.ck request i the i futures. right now as i pointed out, their bid, modestly sow. the dow is implied higher by 63 points. modest moves, but slightly. the s&p rising more than 1% from yesterday's session and the nasdaq jumping 2.5%. this is on the back of that cooler than expected i report. the s&p and nasdaq are higher for the last four sessions. you can seek the week-to-date moves. but the s&p is up 1.5% and 2.5% for nasdaq. >>> with the consumer price index report today, we've got more on that coming up. first a mark with the 10-year treasury yield ticking at 3.9%. 3.852% the last trade there. the u.s. 2-year, 3.947%. and the 30-year taking lower at 4.1 f 1%. that's the current state of the interest rate complex. we'll get a check on the oil side of things, breaking their five-session read. $79, wti. 81$81.36 for rbos gas. >>> dan murphy is in our london newsroom with the early action there. dan. >> dom, good morning to you. we bean tracking across europe for the last couple of hours.

with us now is cnbc's dominic chu.we look at what's happening in japan and some other markets in asia, this is really massive selloffs. >> yes, you put the point numbers on the board to tell listeners and viewers about. let me put it in percentage terms for those people who get a better grasp about the percentage side of things. we're talking about declines in roughly the 2.5 to 3.5% declines for that tech heavier nasdaq composite index. at this point, there are a number of contextual superlatives that are currently in play given the severity of the selloff. with things currently standing the way they are, if we hold near these declines for the dow and the s&p, those indices would be on pace for their worst three-day stretch since the declines in mid-june of 2022. if it gets markedly worse for the day, if the tech heavy nasdaq composite index, at one point this morning, it was going to be the worst one of those stretches since the big selloff in stocks during the early days during the covid pandemic. i bring up the nas

i'm dominic chu in for kelly evans on this friday afternoon and here's what's ahead on the show the time come, quote unquote. jay powell signaling the fed will cut rates next mont while he stopped short by saying how much, one guest says it will be 50 basis points he'll tell us what makes him so confident about that forecast. >>> our strategist is bullish on what he calls ai 2.0 companies he likes two in particular he's here with the names and why they are in the sweet spot >>> turn around hopes helped peloton surge 35% yesterday. the stock is up again today, but still down 80% from its pandemic peak so should you get in or steer clear of that peloton trade? we have a special "three buys and a bail" turn around edition here on "the exchange. peloton, three more names. we're going to begin with the markets overall. check out what's happening with the stock market right now, because we are still in the green. but well off of the session highs right now. you can see the dow industrials up 253 points, up more than 400 at one point the s&p, 5602, up one half of 1% 32 points to the upside ther

with us now is cnbc's dominic chu. good morning no tax on tips seems pretty clear.derstand. what could it mean if it is implemented? >> so this is the big deal right now. i mean, first of all, if both vice president harris and former president trump can agree on it, could it actually become a reality no matter who's in the white house come the next term that's the big issue, and that actually remains to be seen because it would literally take an act of congress to make something like that, to make that sort of change happen for our u.s. tax code. the concept is obviously one that has a lot of appeal to both republicans and democrats and could be that next step in both sides trying to curry favor with service based employees in the american electorate. now, trump says that harris, of course, is just trying to draft off something he proposed back in june when he floated that idea harris doing the same thing in las vegas ironically enough just this past weekend. the culinary workers union gave their endorsement to vice president harris this past friday trump wasting no

. >> let's get to cnbc's dominic chu with the details. dom, what's the word?na, jose, jay powell's exact words were, quote, the time has come for policy to adjust. and he further added that the direction of travel is clear and the timing and pace of rate cuts will depend on incoming data, the evolving outlook and the balance of risks. so what it all means is that the fed is now more comfortable lowering rates after one of the most aggressive campaigns to raise interest rates in decades to battle inflation. now, financial markets tied to the federal reserve's benchmark shorter term interest rates are now predicting a certainty, a certainty that the fed will lower rates at its next meeting on september 18th. the only question now is by how much. so, according to data from the cme group, there is currently a 65% chance of a quarter percentage point cut at that meeting, and then there is a 35% chance the fed could lower by a half a percentage point. now, powell spent a notable amount of time during those remarks at jackson hole, going through the reasons why the f

let's get to our market navigator, dominic chu.e's being changes that may come to leadership for the big pharma sector. we've been talking so much about eli lilly, the clear leader, right? the healthcare index within the s&p is up 14% so far, so very respectable. let's bring in katie stockton, tech technician, and she has interesting thoughts whether we think names like eli lilly and novo nordisk, the ones that are anti-obesity, are the ones that will still be leading 6 to 12 months from now. katie? >> i think, dom, a shift in leadership is likely here. i say that in part for top-down reasons. when we sue market conditions develop, the winners, the leaders tend to be penalized in that environment. we are seeing for a seesaw corrections for the major indices. that would likely hit the likes of lilly and novo, harder than the laggards in that space. we've noticed some real recovery rallies to suggest they're on the verge of turning the corner. it comes at the same time we've seen very subtle loss of long-term up side. >> so you're no

alongside kelly evans, i'm dominic chu. coming up on the show, we've got one side of the capex coin. many experts see a boom. on the other side, some are announcing capex reductions. we're going to look at undrum, >> this election, kamala harris is dominating the social media front. we'll discuss further ahead. >>> first, a check on the markets overall, the dow sliding more than 300 points at this stage. they're bracing for jay powell's speech. >> peleton takes ahold of 36% to around 450 a share. advance auto parts down 15%, snowflake down 13% as well after their results. we'll trade those stories shortly. >>> and how pfizer and moderna are doing. the fda is approved an update for covid vaccines as the virus surges. right now shares down 4.5%. >>> now worries around the consumer that are controlling to surge. we saw the sales struggles. williams sonoma following suit. clothing retailer holding up slightly better. signs of softening are stim there, but market signals are still relatively bullish. more than 90% of the stocks

i'm dominic chu in for frank holland.alf hour with the first trading day of august. futures are slightly mixed. the dow implied lower by 11 points. s&p up by 9. the nasdaq up by 48. we're taking a look at the biggest pre-market gain evergainers for the nasdaq 100. meta on top much that beat with the ad sales surge. meta pouring billions in the a.i. endeavors warning investors the costs will rise in the months ahead. m meta up 7%. and majors are closing out the day in the month in years. now taking a look abst the acti overseas. you can see the nikkei in japan was off 2.5%. the hang seng and hong kong up .25. same for the shanghai composico. we await the bank of england rate decision. the cac 40 is off by a similar amount. the ftse 100 is up .25%. italy is down 1%. the euro stoxx 600 is off .50%. >>> to the federal reserve and when it may begin cutting interest rates following the conclusion of the latest policy meeting yesterday where it once again held rates steady. recent economic data suggests inflation is moving close

i'm dominic chu in for frank holland and here's your "five@5." waiting on inflation.h as the fed rate debate edges on. >>> stocks coming off the longest losing streak as volatility

alongside kelly evans, i'm dominic chu.got one side of the capex coin. many experts

i'm dominic chu in for kelly, vans. here's what's on the show. fed goes out west and three central bankers speak out ahead of the federal reserve in jackson hole, wyoming and all seemingly open to a september rate cut and while san francisco's mary daly quelled recession concerns by calling to a prudent approach. our strategist still sees three cuts this year. he's going to make his case. the democratic national convention kicks off today with just 77 days until the election. we'll go live to chicago for a what's at stake report and what a harris presidency might mean for your money. plus, this homebuilder reports tomorrow. those shares are down 8% so far in the month of august, but ubs is seeing 15% upside from here. what could things do to turn things around for housing and this stock, but we begin with today's market action. let's get out to bob pisani at the new york stock exchange with an update on these mark, bob? >> dom, good to see you. we are at the highs of the day. three to one advancing at the new york stock exchange, breadth has been

thank you, dominic chu. >> takeaway, less caffeine. the dutch bros. >> energy drink makers. >> energy drinks, talking about that monster and celsius. >> not me. >> no. >> three cup a coffee a day girl. >> you have a lot of little kids. that's not easy. let's talk real estate now, shall we. another stock that actually is moving, outperforming the broader markets for august, mortgage rates dropped to the lowest level in over a year and check out shares of zillow because they're up about 15%. that real estate app announcing a new ceo forecasting double dim it earnings growth for the full year. joining us exclusively in his first interview in the role is jeremy wacksman zillow's ceo. nice to have you here for your first interview as well, jeremy. your business has been outperforming the residential real estate industry a part for eight consecutive quarters. i will ask the question, can you continue to do that? can you continue to outpace the growth of the industry of which you're a part? >> thanks for having me. excited to be here. we're p

i'm dominic chu in for kelly evans this afternoon. here's what's ahead on the show. fast and how far will the fed go with interest kate ruts? jay powell did not say, but he did signal a september start, and one guest wishes he had not. he's here to explain. >> and billionaire greg flynn is so confident san francisco will turn things around, he just put $40 million behind that conviction. he'll join us for an interview on that trade and where else he's seeing some opportunity in commercial real estate. >>> and three more names on deck to report, including this one. our trader says buy it. it's good short term. that trade with potentially 15% upside. we have that name and how to position on two more. >>> we begin with today's markets, and we are seeing a bit more of a mixed picture overall. the dow, the s&p 500, and nasdaq are showing some signs of life. generally speaking, the dow industrials fresh off of a record high, pulling back, down about 0.2 of 1%. 41,172 is the last trade for the blue chip index. the s&p 500 is at 5619, up just a modest two points, essentially

i'm dominic chu in for melissa lee. on the desk tonight, dan nathan then tim seymour, carter worth and julie beal. we start with the s&p 500 and nasdaq on eight-day winning streaks for the s&p 500, it's the first eight-day winning streak since last november and the strongest eight-day stretch in 1 years and finished up at least 19% for the year, the last four times there was an eight-day winning streak in play during the year. still, though, in the short term, there's plenty to contend with. a host of retail earnings starting with lowe's tomorrow along with target, macy's and t.j. maxx as well. then there's jackson hole starting on thursday with powell taking center stage friday followed by a number of key event as head of the big rate decision in september. so, dan, we'll start with you. are you starting to feel good about buying this recovery rally? we've pretty much gotten back everything we lost and maybe even a little more from that monday drop we saw a couple weeks ago. >> i think it's tough to continue to buy her

♪ >>> what a day welcome to "power lunch," i'm dominic chu and it's a big day for the markets as fedhair jay powell seemed to do what the markets expected and wanted. he laid the groundwork for a fed rate cut at the next meeting in mid-september, and right now, stocks are bid you can see almost 1% gains for the down and the s&p 500, a 1% gain for the tech-heavier nasdaq composite index. that's how things currently stand. and check out these numbers. the dow and the s&p are now once again within just 1%, a stone's throw, of record highs you can see right there, the dow and the s&p were not that far away and though the nasdaq is not quite as close to a record high, it is up 10% just since the lows hit that we saw on august 6th, reversing the entire so-called correction in just about two weeks' time. big move for the nasdaq, up nearly 10% joining me onset for the entire hour to break down all of the market moves and everything else is the managing partner at dc l.a. he's also a cnbc contributor let's start off with the big driver of some of today's gains, and it's seemingly the comments

i'm dominic chu in studio b. on the desk tim seymour, dan nathan, guy adami and katie stockton, managing partner of fair leaf strategies. we will begin with stokes cooling off, the s&p 500 and nasdaq snapping their eight-day winning streaks as you can see there. still two of the year's big winners managed to buck today's breather and rip to all time highs. netflix jumping a percent and a half on positive news for its ad business, more on that story in just a moment. and eli lilly surging 3% after a long-term study showed zepbound slashed the risk of type 2 diabetes by a whopping 94%. the news hit diabetes and obesity device makers, names like decks con, insilit, abbott labs falling sharply lower. angelica people's spoke with eli's ceo earlier today and joins us with the recap. what can you tell us? >> dom, this is a three-year trial that's finding that the drug can actually prevent diabetes in people whose blood sugar levels are close to that high but not quite as high as diabetes. it is already approved to treat

and dominic chu and the millions, trillions, billions lost just this morning.to tell you about some of these morning movers. german pharmaceutical giant baer, that company seeing a surge in european trading up by about 10.5% so far after scoring a big legal victory here in the united states over claims that exposure to its weed killer roundup causes cancer. a u.s. appeals court ruled for the company against claims that baer owned monsanto violated state law failing to add a cancer warning label to those roundup products. so baer, up 10.5% however you want to pronounce is here in the u.s. >>> shares of estee lauder falling. cutting the beauty's rating from neutral to buy reversed and upgrade from march. bofa, sluggish growth in it china reason for the down grade. and look at nike. shares of the athletic footwear and apparel giant and dow component rising 0.75%. stock grows over 5% you may recall thursday after big ackman's pershing square revealed a new stake in the company. worth $220 million end of june. keep an eye on nike. analysts in play today. big analyst

dominic chu has been tracking that action. hey. >> good morning, carl. of things and driving the headlines today. we'll start off with food and beverage. the shares of premium burger chain shake shack, sweetgreen and custom drink maker dutch bros getting attention this morning. shake shack, dutch bros and sweetgreen all lower. and this is due in part to analysts at piper sandler who downgraded shares of each of them, all go to a neutral weather, they were overweight before. they're saying they're tempering their view on the fast casual restaurant stocks given diminishing pricing power and more balance risk-reward. shake shack's price target lower to 114 from 121. dutch bros to 36 from 41, and sweetgreen gets upped to 39 from 3 after a massive upside move so far this year. sticking with that quick service restaurant side of things the biggest one by market cap in the s&p, is mcdonald's and today analysts at evercore reiterate their outperform rating on the golden arches and raise the target price from 320 to 300. they think the brand remains strong and on

dominic chu at our headquarters.in late june he did that and says it's time to buy. joining us is keith learner, co-chief investment officer at truist wealth. it was a good, timely call. you say much of the excess appears to be rung out and investor expectations have reset lower. explain to me why you believe that's the case and what that means? >> thank you, david and morgan. as you mentioned we had been positive with an upgrade last november and moved up about 40% into june. the last move was -- we had the strongest one month out performance of the s&p we've seen since 2002. that's one of the reasons we downgraded even throw we thought the secular trends were in place. fast forward, we upgraded the sector, you've seen almost the complete opposite. the one month under performance relative to the s&p is the worst since 2002. at the same time as you ook at this correction, as the technology sector pulled back, earnings trends continue to make 52-week highs. we get past august into the fall, we think there will be more

dominic chu you've been tracking this action and take it from there. >> the overnight hours in asia sawreact, the first time zones to react to the jobs related selloff. that epicenter is the nikkei in japan in tokyo, the benchmark 225 dropping by you can see there over 12% by the time the market closed. again, the worst day for the japanese market going all the way as david mentioned to that black monday timeframe in '87. it ended up being the worst one-day point drop in nikkei history down 4,451 and washed away all the gains the nikkei has seen so far this year to date period. now a big focal point for traders in asia and here in the u.s. has been to david's point what's going on with the currency. the yen has been on a weakening trend as you can see most of the year going up for the value of the u.s. dollar which means, again, quoted directly we're looking at how much the yen versus the dollar could buy. so the higher the number the stronger the dollar and the weaker the yen. as you can see, it's been a regime of stronger dollars and weaker yen when the market became more risk averse

chu was the man to tell us what occurred. >> let's start with the dow component. we're talking nike here because stifel is slashing estimates for nike's north american business. they're saying the footwear giant's dominance rivals like new balance and adidas gain ground. moving between gains and losses overall. the last few days it's been volatile. planet fitness hitting a 52-week high. the stock has been added as a bullish pick and say there's a 92 price target. the company says planet fitness's new leadership was addressed, and has better marketing. so planet fitness shares on the move. d.r. horton climbing to new all-time highs. wells fargo reiterated the home builder saying it has an attractive risk/reward and the prices offer them defense against rising inventories. bj's wholesale getting an upgrade to neutral following earnings last week. jpmorgan says it expects modest reflation and says they're benefiting from efforts to drive market share and from consumers trading down in certain products. those shares up half a percent. wayfair slipping after a downgrade from argus, saying the company's prospects in the current environment of higher rates and home sales are muted. you see the shares down about