kristina partsinevelos is here as always with that. kristina >> air taxis and commercial space flights. >>> about 15 minutes away from the closing bell kristina partsinevelos has a look at the stocks she's watching at this moment. >> start with joby aviation, soaring. the stock is soaring 42% after it announced t's going to be launching air taxis. not necessarily with passengers just yet, but this is the latest news from the company, why it's soaring. the fact they got the green light is adding to this name let's move on to the next company we are going to talk about. that's virgin galactic i teased that before the commercial break it's up about 8% right now that's because they are soaring ahead of their first commercial space flight, a three-man crew set to jet to technologic of space tomorrow from new mexico the excitement over the launch is causing this name to soar 8%. last but not least, a travel theme, robo taxis and, you know, space travel, cruise stocks continuing yesterday's rallies shares of carnival are up about 8.6%, almost

kristina partsinevelos is here kristina >> reporter: i want to talk about madison square garden entertainment. it's in negative territory as sphere entertainment plans to sell off on the stock. madison square garden said it will purchase $25 million of that offering from sphere. it's only a small portion of the second half. shares down almost 11% peloton under pressure as wolf down grades the stock. analysts say they lack confidence in the pricing power, strategic initiatives and demand shares down over 7%. scott, you have a bike >> i do not. >> reporter: me neither. cool >> got the treadmill. >> reporter: you fancy >>> we're just getting started up next doubling down on the bear case. cantor's eric johnston is back he'll join me and makes his case next you're watching "closing bell" on cnbc. g me a million different ways i should be trading. look! what's up my trade dogs? you should be listening to me. you want to be rich like me? you want to trust me on this one. [inaudible] wow! yeah! it's time to take control of your investing education. cut through the noise with best-in-class education

kristina partsinevelos is standing by with that. tina is this>>> i have two names, two major oil companies lowering concerns about chinese growth and much more after this short break. this is the all new, all electric lucid air. a car that goes as far as it does fast. as sleek as it is... spacious. as smart... as it is beautiful. introducing the lucid air. experience the best. ♪ ♪♪ at morgan stanley, old school hard work meets bold new thinking. ♪♪ at 87 years old, we still see the world with the wonder of new eyes, helping you discover untapped possibilities and relentlessly working with you to make them real. old school grit. new world ideas. morgan stanley. do you ever worry we'll live forever? no, it's literally never crossed my mind. what if we live to like 100? that's 35 years of being retired. i don't want to outlive our money. and i have been eating all these stupid chia seeds! i could totally live to be 100! why do i keep taking such good care of my- since we started working with empower, we're able to get all our financial

kristina partsinevelos, tell me more about the sec's lawsuit and binance?exchange in the world and binance co-founder cz as he's known. they're alleging they operated binance.us as an illegal exchange and commingled billions in user funds and sent them to another trading company controlled by cz, the co-founder binance assured customers assets are safe and secure and, quote, because binance is not a u.s. exchange, the sec's actions are limited in reach that's according to them the sec has been cracking down on crypto-related platforms. coinbase down 9%, bitcoin down about 5.5% microstrategy which owns a lot of bitcoin down. riot also down the list continue, scott. >> for certain kristina, thanks mike santoli, tough for anything crypto related so much for the crypto winter ending any time soon >> yeah. this sec has been pretty critical of this they've operated under it's better to ask for forgiveness than permission. it's probably pretty expansive definition, the companies are going to fight it. it does call into question just exactly what all the intermedia

the growth you'll see in earnings will be real growth >> let me get to kristina partsinevelos. we will pivot to nvidia anyway it has been down on a story about a potential rules change on chips going to china, correct? >> reporter: they want to impose new restrictions on ai chips exported to china. there is a webinar going on with the cfo of nvidia who is speaking at the webinar. the first question just asked was about the restrictions she said they are aware and they may restrict the a-800 and h-800 products there's been a big boom in demand they don't think it will have a, quote, immediate material impact she reiterated that again saying she does not anticipate any immediate impact in q-3 they said there was a $400 million hit to earnings but they created this watered down chip, and she also said that if they followthrough, if they followthrough with such restrictions, one important point, she said roughly 20% to 25% is exposed to china and this is a data center so revenues would be impacted for china. right now saying there's enough demand to offset any type of hurt coming i

kristina partsinevelos is joining us as always kristina >> reporter: dollar general hitting its lowest level in three years. the company said the economic back drop is having an impact on customer spending levels down over 18% right now. the day isn't going better for okta which is deeply in negative territory. jpmorgan cutting the stock to neutral saying the economic environment is putting pressure on the company's growth. that's why you're seeing shares down almost 17%. scott? >> kristina, thank you. >>> we're just getting started up next the wild west of the '90s chris harvey weighs in on ai and what has happened to those stocks you're watching "closing bell" on cnbc. starting a new chapter can be the most thrilling thing in the world. there's an abundance of reasons to get started. how far we take an idea is a question of willpower. because progress... is a matter of character. >>> welcome back the ai arms race has been one of the biggest market drivers late. many compare it to the .com bubble of the '90s my next guest says it's moving even faster. let's bring in chris harvey of we

>> kristina, thank you kristina partsinevelos >>> last chance to weigh in on our twitter question wenow, large cap tech or cyclical value head to twitter. the results after this short break. [office sounds] ♪upbeat music♪ ♪♪ ♪when the day that lies ahead of me♪ ♪♪ ♪seems impossible to face♪ ♪a lovely day (lovely day)♪ ♪(lovely day) (lovely day)♪ ♪(lovely day)♪ a bank that knows your business grows your business. bmo. we planned well for retirement, but i wish we had more cash. you think those two have any idea? that they can sell their life insurance policy for cash? so they're basically sitting on a goldmine? i don't think they have a clue. that's crazy! well, not everyone knows coventry's helped thousands of people sell their policies for cash. even term policies. i can't believe they're just sitting up there! sitting on all this cash. if you own a life insurance policy of $100,000 or more, you can sell all or part of it to coventry. even a term policy. for cash, or a combination of cash and coverage, with no future premiums. someone needs to tell them, that they're sitting on a go

let's get top stocks to watch as we head to the close kristina partsinevelos >> carnival is down right now. it is down 7%. it was lower than anticipated and here's ceo josh weinstein on cnbc earlier on where profit can go from here listen in. >> it's going to be about 85% in the third quarter, to about 100% in the fourth quarter. so we're making the right moves and they're starting to show up in the results >>> an iconic british luxury automaker is looking for help from a u.s. ev maker shares of lucid are up about 3% and still off earlier highs where the stocks soared at 15% after it announced it would suspect play aston martin for future ev models and this will be the first time it will act as a supplier expect more from closing bell overtime's interview with lucent ceo just at 4:00 p.m. eastern. >> good stuff. >> we'll see you in just a bit >> energy, one of the top s&p sectors today as traders assess a failed insurrection in russia. the group is still the worst performer of the year and our next guest says energy stocks remain vulnerable and there are bright spots and they join us h

now there are concerns about delinquency rates and credit losses kristina partsinevelos has more. >>eporter: the american consumer keeps spending. a rising number of people have been 30 days late on auto loans and credit card debt now student loan payments are set to resume in october the overleveraged consumer has helped buy now pay later companies. you can see upstart up over 100% because it incorporates ai into its lending platforms. all of these are outperforming the s&p 500. much of wall street is cautious saying a lot of that student debt is priced in. compass today put a sell rating on sofi. they have a $5 price target. that's why you're seeing it down 8% they're saying the student loan pause was scheduled to end on june 30th. there's nothing new here even as the supreme court weighs a loan forgiveness plan then you have paypal they announced a deal with a european firm to pay for its debt the company still hasn't named a ceo successor and is facing competition. atlantic equities said move to the sidelines on paypal. then you have a firm seeing total delinquencies in may i hav

kristina partsinevelos joins us with that. >> reporter: lease start with neo jumping. they say they're cutting the prices of their vehicles they delayed projects due to cash flow. shares are up over 9%. >>> as you have mentioned, analysts are getting on board with the cruise lines. jpmorgan upgrades carnival as well as royal caribbean. each of those names hitting 52-week highs and let's signal out carnival that's up 13%. i still have yet to go on a cruise, scott. >> you and me both. >> reporter: i didn't know that. >> kristina, thank you >>> we're just getting started up next microsoft and activision under fire the ftc setting their sights on that merger plan we'll hear from a microsoft shareholder on his take. >>> later amd's big ai event we'll bring you a rundown of what to expect you're watching "closing bell" on cnbc. girls... the chess club has gained an edge on our bake sales. we need more ways of connecting with customers, fast. i know some consultants with great ideas. can they help us improve our digital experience? absolutely. they've invested over $2 billion

kristina partsinevelos is in san francisco with that for us >> reporter: i am. i'll focus on tech tesla trading near the flat line after snapping its longest winning streak on record we have other ev stocks in positive territory right now this comes as chinese players rally on a demand optimism t xpeng is rolling out its own self-driving technology. nio is up over 8%, more than 20% in the last week. >>> we have to talk about sofi it's on pace to -- shares down about 2.5% bfig said they like the name because of the student loan payments that need paid. >> kristina, thank you kristina partsinevelos >>> up next, shopping through the uncertainty. matthew boss is back he'll break down the consumer resilience >>> we're getting you set up for adobe earnings we have a shareholder standing by nice move this quarter almost 3%. we're live from the new york stock exchange and you're watching "closing bell" on cnbc. [office sounds] ♪upbeat music♪ ♪♪ ♪when the day that lies ahead of me♪ ♪♪ ♪seems impossible to face♪ ♪a lovely day (lovely day)♪ ♪(lovely day) (lovely day)♪ ♪(lo

. >> up next beings tracking the biggest movers for the chris back with kristina partsinevelos.less than 20 away from the closing bell let's get back to kristina partsinevelos. >> competition is revving up in the er market. that doesn't make it easy for fisker they only delivered to their first customer and recently lowered the results. in other words, they delivered to a saturated market. >>> shares of affirm still soaring after announcing a deal with amazon pay. they can allow customers to pay their bills over time. you see the stock is up 16%. here's a sneak peek of a new cnbc interview with max lefchin and his new thoughts on consumer credit quality. >> we saw a bit of weakness and adjusted our credit underwriting standards around that time and have been managing credit very, very carefully that said, we have seen no real deterioration in our user base over the last six months or so >> the full interview will be on "overtime. scott? >> last chance to weigh in on our twitter question we asked who's in charge of this market right now, the bulls or the bears. you can head to @c

kristina partsinevelos has the details. >> the s.e.c.ed charges against binance and ceo cz, which he's known for there are 13 charges but boil down to three points the first point is they're claiming binance's functioning as a securities market when -- or unlawfully functioning as a securities market. the second charge is offering unregistered crypto assets the third point is misleading investors, making investors believe it is an adequately protected database keep in mind, this is the largest crypto exchange out there around the globe right now. the s.e.c. is saying binance mishandled funds did not protect consumers. that's having a negative effect, not only on binance but the entire crypto space at the moment, including coinbase that stock is down 6%. bitcoin dropping about 2.5%. again, the s.e.c. is suing the largest crypto exchange in the world as well as its founders, cz, this would be binance, over violations, 13 charges again, the violations just have to do with, you know, functioning as a securities market when they were not prop

kristina partsinevelos >> hi, carl.ling kevin spacey a sexual bully as trial got under way in a london court. spacey is facing a dozen allegations from four men. spacey has not pleaded -- or has pleaded not guilty and says he hopes an acquittal could restart his career the trial is expected to last about a month. >>> the russian government is raising salaries by 10.5% for military service members, it comes days after the aborted wagner group rebellion when vladimir putin commended them for averting a civil war. >>> alan arkin has died. he was nominated for four academy awards during a career that spanned six decades and included stints on broadway and improve comedian he was 89 years old. dom, back to you or carl. i don't know why it says dom. >>> kristina partsinevelos >>> nike with its first earnings miss in two years. but the street remains bullish we'll hear from one of three analysts with a sell after the break. >>> plus, june is pride month. cnbc is celebrating all month long and sharing stories of corporate leade

cnbc's kristina partsinevelos is here. >> we thought the supreme court would rule borrowers preparingheir payments in september. the three-year pause on $185 billion worth of student loans needs to be paying back. it has helped lending firms and buy now pay later firms like affirm, upstart, sofi all up 53% vastly outpacing the s&p 500 much of that debt is already priced into the stock. compass has a sell rating on sofi saying the student loan pause was scheduled on june 30th affirm seeing total delinquencies increase in may. mizuho, they're saying it's strong paypal is selling the kkr e european debt. sill hasn't named a ceo successor. then lastly you have payments processor block. it faces competition from toast, pfizer cut the price target to block to 85 from 105. i threw in fin tech, buy now pay later. you have competition in the space and the fact that a lot of this debt has priced into the stock hence why you saw the uphill climb so the student loan was a headwind to this fintech and now we're getting a headwind because we're worried about delinquencies. it was supposed to be run

kristina partsinevelos has the details. >> nvidia cfo who spoke at a webinar and said new chip export restrictions won't an immediate material impact to financial earnings given the strength of their products worldwide that's the consensus from analysts as well which is why we saw nvidia share price bounce back from earlier lows gpus have been talking about, part of the ai high, the company believes it would offset a drop from china the bull narrative continues with these notes, even if china contributes and this was said by the cfo roughly 20 to 25% of total data center revenues these restrictions keep in mind initially came into place october 7th, so that's the left side of your screen after which china retaliated launching a review on micron and banned some micron chips this past may nvidia is now a target and has since created a less capable let's call it a work around chip, which could now be a target of those controls we still don't know because nvidia is not commenting indeed, a little different as the mi 300 is getting off the ground this year so the impact from the ban may be

kristina partsinevelos >>> after the break, an earnings beat for jm smucker. price hike the ceo joins us next. >>> mccormack upgrade at b of a. they go from 75 to 100 saying the cost outlook, the margin trajectory even more reasons to get constructive as the russell now at a three-month high. "squawk on the street" cties tethisonnu at morgan stanley, old school hard work meets bold new thinking. ♪♪ partnering to unlock new ideas, to create new legacies, to transform a company, industry, economy, generation. because grit and vision working in lockstep puts you on the path to your full potential. old school grit. new world ideas. morgan stanley. >>> welcome back we mentioned the kre, six-week high expected to close above the 50-day moving average for the third consecutive day. obviously, sara, year-to-date losses have been serious put together what they are saying about banking stress, fed emergency lending, there's still commercial real estate worries out there, but this is not anywhere near where we thought we would be last march. >> could have been a lot wors

. >> hi, kristina partsinevelos. >> let's go to our cnbc news update antony blinken announced he would propose a new robust assistance package for ukraine the announcement comes the same day russia targeted the capital city with another round of drone strikes. they launched 35 iranian made drones there were no injuries reported so far >> the israeli military says forces are searching for a gunman who took part in an attack another was shot dead on the scene which is near an israeli settlement in the occupied west bank >> an influential public health group is recommending all young and middle aged adults should be screened regularly for anxiety and depression, even if they don't have symptoms. this is the first time the task force has recommended routine mental health screening in a primary care setting the task force says evidence did not show a need for a screening for adults that are 65 and older. scott. back over to you >> i'll see you in a little bit. thank you, kristina partsinevelos. >>> up next, the big news today that has josh saying crypto is about to head into a new phase 'le

ch kristina partsinevelos is here with the charges >> 13 charges from the s.e.c., not just binance thesays it was an illegal u.s. exchange, comingling billions of dollars with user funds, sending them to another trading e ing company, controlled by the founder. binance said that assets were safe and security. and then, quote, because binance is not a u.s. exchange, the s.e.c.'s actions are limited in reach. so, in this filing, the s.e.c. claims that crypto-currencies are actually securities, indeed securities, so, they should be regulated as such, which could lead implications for trading platforms like robinhood, as well as coinbase coinbase selling over 9% it already received an s.e.c. warning of enforcement action about two months ago and shares fell, as did many in the crypto sphere today, like microsat. >>> which holds a lot of bitcoin on its books and the s.e.c. isn't the only one going after binans in march, the u.s. regulator cftc alleged binance and its founder knowingly offering unregistered crypto derivatives in the u.s. against federal law. the fight continues. >> kristina,

joining us now for more is cnbc's kristina partsinevelos.istening to today? >> we have been talking about this recession for the better half of a year. we have seen retailers warning of a cautious consumer right now. the takeaway is the job market is resilient. new home sales surged in may and inflation is slowly coming down. and consumers are still spending which means that they're signaling confidence in their financial standing. like you pointed out with the survey, americans may not necessarily buy the biden economic stent. there is another poll i was looking at that said two-thirds of the adults rated the economy as fairly bad. so today biden is expected to tout the strength in the economy, saying unemployment is under 4%, his trillion dollar infrastructure law was put in place and that he doesn't believe a recession is actually going to occur. but from the investor side, which we focus on cnbc, unless he comes out with any major new spending package or makes new promises to the chips act, for example, or the inflation reduction act, wo

that's where i want it >> you let us know thank you for that let's get the headlines with kristina partsinevelos hi, kristina >>> law enforcement officials say the men who participated in the january 6 riot at the capitol was arrested near the obamas' home in d.c. tyler taranto claims on social media he's been living in a van nearby in d.c. his last social media post was actually a link to a website touting conspiracies about the obamas' home it is not immediately clear when he might appear in court >>> george santos is appearing in court for the first time since pleading not guilty to a 13-count indictment claharged wt fraud, money laundering. >>> a new space telescope hopes to shine a light on the depth of the universe it will scan the sky and provide the largest and most accurate 3d map to date. scott? >> kristina, thank you >>> up next a mid-year check on our "the halftime report" stock summit how brynn's checks are doing and liz gives her top particulars. tonight at 6:00 p.m. eastern, "tech check"itdedrbo is here on cnbc. ♪ ♪ connecting to opportunity is just part of the hustle. ♪ ♪ opportu

kristina partsinevelos is sitting down with ceo tim seymour and getting the take on the current staterkets. that's tomorrow at 1:00 p.m. eastern. you can join by going to cnbc.com/protalks. >>> sam altman resumes his tour with stops in jordan and uae and ot others he spoke at tel aviv university yesterday and spoke with the country's p president. he may be trying to get ahead of regulators as they come up with rules for a.i. technology. musk said china will seek to create oversight for a.i let's talk more about this with james vincent at the verge james, what strikes me about altman is he signed on to this letter requesting that regulators come up with a framework that governing a.i in his talk at tel aviv university, he said, itwould b a mistake to go put heavy regulation on the field right now or to try to slowdown the incredible innovation. which is it? >> i think altman is trying to have his innovation and eat it his cake and eat it, too he talks openly about regulation, but he focuses on the future threat from so-called super intelligent systems. a prospect that experts are skept

about the cpo but it's a race to win the chip market amd clearly in the lead. >> thank you kristina partsinevelosn once again on that $1 trillion market cap level with that stock up some 2%. >>> "squawk on the street" continues right after this ♪ old school wisdom, with a passion for what's possible. that's what you get from the morgan stanley client experience. you get listening more than talking, and a personalized plan built on insights and innovative technology. you get grit, vision, and the creativity to guide you through a changing world. ♪ >>> good tuesday morning i'm sara eisen with carl quintanilla. setting the agenda former federal reserve official vince reinhart saying not hiking tomorrow, which is what the market is expecting, would be a mistake. >>> david marcus with us after correctly calling the nvidia surge on this ai enthusiasm. >>> later the executive chair of aston martin formula 1 lawrence stroll on e

. >>> amd is a big story today, unveiling the chip, kristina partsinevelos was at yesterday's event multipleget this morning. christina joins us now >> if i base it on the crowd, the star of the show was the mi-300x and the conversation around a.i especially when the company promised to go from $30 billion to over $150 billion in the next four years or so but investors were looking for two things, a.i. customer announcements, who signed on, who's committed to buying the new chips. and secondly financial guidance, neither were discussed which contributed to the selloff we saw in the back half of yesterday. the rebound is positive reaction in the street and aws is considering using the cloud chip aws was at the event yesterday took to the stage to speak about another cpu product. so that relationship between both companies is already established. mizuho wedbush racing their targets saying amd is the next play td cowen likes how diverse it's become piper sandler liked the new open source software. that was new nvidia spent the last ten years developing their own version so this is a big step fo

projecting year over year growth as it ramps up its investment in, what else, a.i >> a.i >> kristina partsinevelosas the latest kristina >> broadcom shares did a complete turnaround. they were negative when the earnings came out, but the ceo took the mic on the call and weighed in, of course, on the impact from a.i.-related sales t a.i. revenue was 10% of total revenues right now, he's saying it's 15%. and anticipating it to contribute more than 25% by end of fiscal year 2024. saying quote in fiscal q-2, they just posted q-2, he said, we expect this revenue to exceed $1 billion in the quarter so, that number, $1 billion, is up from the previous $800 million benchmark. management believes that quarterly revenue could double by the end of this year. considering broadcom makes custom chips for google, meta, and signed a partnership with apple, those details for that apple deal have been scant thus far, why investors want to hear about it on the call, which is still under way. broadcom, we know, is trying to acquire vm wear but hit a lot of hurdles. tan just said he believes that deal will close this

need the government picking and choosing our technology winners >> let's bring in our own kristina partsinevelos for more on this. now, kristina, the firm did go to an underperform on the stock two months ago this is a doubling down, reiteration of that call >> at the same time, they have an underperform rating there's three major points coming from this report. the fact that researches are expected to decline in 2023. why is that? point number two, retail trading volume really hasn't upticked. if anything, it's going to continue to go down. and there's only so much you can increase tractnsaction costs off and third is the s.e.c. overhang maybe you can argue, this s.e.c. litigation will take years to pan out. obviously, that's going eat costs quite a bit, eat into margins. however, on the flip side, coinbase has been anticipating this it's been months since they received that wells notice this shouldn't be a major surprise the other argument, because there's both sides, some people actually like the name, like kathy wood, is that overall, with coin base, you have a lot of crypto capital that alr

. >> let's get a check of stocks to watch kristina partsinevelos is back with that. >> those price increases help margins but also contributed to a 1% drop in volumes during the quarter. between today's drop and weakness across consumer staples this week, mccormick is headed for its worst week since may 2022 in honor hoff canada day this saturday, let's talk about black berry, that stock is up about 6% after surprising investors with a profit the top of the market smart maker -- i pulled out my old classic -- the ceo said the economy is hurting royalty revenue because it's now a cybersecurity company especially with issues in china. >> nice day for those shares. >>> up next, we're trading the second half. we're back with "closing bell" after this a competitive advantage. ♪ it's raising capital to help companies change the world. ♪ opportunity is making the dream of home ownership a reality. ♪ ...and driving the world forward to a greener energy future. [applause] sometimes the only thing standing between you and opportunity is someone who can make the connection. at ice, we connect people to

let's get to kristina partsinevelos with a closer look at the most overbought and over sold parts ofif you're the type who prides themselves on being different, then you might want to consider avoiding tesla as it's the most overbought stock on wall street right now. the metric, rsi, measures the speed and magnitude of recent price moves. if an rsi above 70 it's considered over value and below 30, over sold. more importantly, though, it can indicate a security may be ready for a trend reversal in price. tesla's rsi is over 90s. the stock is up over 25% just in the last three weeks or so, just on friday. it ended its 11-day win streak then you have meta up at 71, signaling that the stock is more crowded than apple, amazon, netflix, even nvidia is lower on the rsi scale, despite its 165% run up in the stock year to date and it's not all about tech within the nasdaq. you have non-tech crowded names like fox corps, fox news utility firm constellation energy and enface and match dollar tree hasn't been a favorite its rsi 24, stock down 17% in the last three weeks excel, energy and starbuc

i'm kristina partsinevelos oil prices are hovering near their lowest level all year on a drop in globalday, trading at 71.67, adding cushion after the volatility there's a lot of uncertainty around this opec meeting the countries including russia pump 40% of the crude. the decisions they make have an impact on oil prices investors are worried they won't come to the rescue and cut production depressing prices valero, natural resources, those are some of the biggest laggards right now that you can see on your screen on the week but you can see there's a little bit of an uptick. consumer staples struggling, down about 5% this week. investors left the sector in search of more risk. valuations still high which makes it difficult for investors to put new money back to work in the sector but i got to focus on dollar general because that's part of the group, and it takes the spotlight, down roughly 20%, 19%, this week the company warned customers are cutting back on spending forcing them to slash their full-year outlook. back over to you. >> thanks. >> kristina partsinevelos. >>> still ahead, g

and whether it could prove a tailwind we mentioned the name a moment ago, for example, sofi kristina partsineveloss names we may want to keep an eye on. >> i'm going to start with what you were talking about sofi is considered a winner given its refinance of student loans. the stock was negative because people initially have to divert discretionary money towards payments means not using buy now pay later. the stock turned positive because many of these student loan borrowers will have to refinance once payments resume after three-year pause the stock is more than doubled this year but btig analysts say it still is 45% more room to grow driven by the resumption of student loan payments. bank of america warns investors to remain cautious to sara's point and keep an eye on sofi's personal loan portfolio growing on the balance sheet just over the last few quarters raising concerns for delinquencies speaking of delinquencies, although mizuho points out delinquencies have ticked up for a buy now pay later player popular with younger spenders they maintain a buy with a price target of $17. then payment p

let's get to kristina partsinevelos for the cnbc news update kristina >> thank you, tyler. talk about oceangate, the company that owns the submersible that went missing sunday during a mission to explore the tchk tnk wreck saying its ceo is also among the five-person crew a british billionaire, a pakistani businessman and his son as well as a "titanic" expert are also confirmed on that vessel. the coast guard said this afternoon there's likely only about 41 hours of oxygen left in the "titan" sub. france sent a ship to aid in the search at the request of american authorities >>> actor jonathan majors will go to trial for his domestic violence case on august 3rd. his accuser says he sent her to the hospital for minor head as well as neck injuries back in march after a confrontation in new york city. the "creed 3" and "ant-man" as well as "the wasp" actor is charged with misdemeanors and could be sentenced to up to a year in jail if convicted. >>> fox news's bret bayer and martha mccallum are set to moderate their first republican primary date which will air on fox news the r

touching the 700 point gain it just might happen up 699 after the jobs report let's get to kristina partsinevelosm at. it's heading for six straight weeks of gains something it hasn't done since january 2020 the current rally is concentrating on a few names with, what else, an ai focus if we look at the point impact on the nasdaq 100 it's tesla, apple, amazon and meta contributing to 70% of the gains. three of those names, microsoft, apple, meta, hitting 52-week highs. there are a few names that stand out today. sentinel one plunging 7%. analysts are rushing to downgrade further adding to the selloff. then you have pagerduty heading in the same way. management also cut their revenue outlook. that's not the case for mondgodb they're surging right now. they were able to add customers despite the weaker macro narrative. >>> with all the attention on ai and big tech, small caps are getting lost in the shuffle according to our partners that track it small cap funds seeing outflows of $800 million. some of the big names rallying today however. vanguard and schwab among them, up 3% in each case if youlo

kristina partsinevelos looking at the overbought and the oversold kristina >> if you want to be different in all our retail investors watching, you might consider avoiding tesla as it's the most overbought stek on wall street right now. the technical metric which is often talked about as rsi, measured the speed and magnitude of recent price moves. if it's over 70, it's considered overbought, if it's below 30, it's oversold. more importantly, it can indicate a security may be ready for a reversal in price. tesla, for example, is well over 90 right now that stock is up over 25% in the last three weeks or so and is on par right now to have a 12-day up streak. meta is at 74 rsi, signaling the stock is more crowded than apple, amazon, netflix, even nvidia is lower on the scale despite its 165% run-up year to date all about tech on the nasdaq you have non-tech crowded names as well including fox corporation, utility firm constellation energy, end phase, and even match, the operator of match.com. on the other end of the spectrum, dollar tree hasn't been a favorite for a while. its rsi is 24. it'

let's get to kristina partsinevelos on the nasdaq to explain what's driving intel lower. ugh intel announced it would sell 20% of its austrian chip making business to bing capital the stock reacted negatively to its annual foundry meeting hosted literally a few hours ago. you can see after 12:00 p.m. that's when the stock really started to fall. the meeting focused on its internal foundry model this is a segment of the company that would have its own profit and loss statement and pretty much like an arm's length relationship with the device business that means intel's foundry business would not only charge third party customers to make their chips but also treat intel as a customer. all in an attempt to become the second biggest foundry in the world of course after tmc. today, though, intel said they will sign up their first foundry customer by this year, but we didn't get any names investors not loving that as well as the time it will take intel to ramp up utilization rates, cut costs and sign up new customers. it's a step in the right direction but it seems to not be hap

kristina partsinevelos has been following the story all day lock >> the ceo touting a recovery, saying improved customer inventories are helping drive higher demand and products are helping reduce excess supply he believes, quote, the industry has passed the bottom for both quarterly revenue and year over year growth. the market liking the lower inventory and the reiteration of full-year -- fiscal year 2023 cap-x. so, those are positives. the overhang, though, is the chinese ban on several of its memory chips the situation is still, quote, uncertain, and fluid, with a quarter of micron's worldwide revenue exposed to china micron reiterated that a low double digit percentage is threatened of being impacted micron is the latest front in the u.s./china trade war i say that, because there was an earlier report today suggesting the u.s. is considering tightening u.s. a.i. chip exports to china nvidia's cfo saying there would be no immediate material impact to financial results the bull ushish narrative still intact, with the stock coming off earlier lows from this morning. melissa? >> krist

. >>> welcome back to "the exchange," stocks mostly in the green after posting in march kristina partsinevelos has a look at the numbers. >> yeah. we have a mixed bag and the s&p 500 is getting close to bull market territory and much of the gains have to do with the seven tech names, ai mafia or the magnificent seven as jim cramer likes to say including nvidia, apple, microsoft, google, amazon and tesla and that is on pace for its best first half of the year since 1991, the year the world wide web came to life with its first web page the nasdaq is up about 26% year to date and the nasdaq 100 hitting a fresh 52-week high and apple helping with a lot of these moves given its weight and the launch of its new products and let's talk about sectors and financials led lower today by some big names, j.p. morgan down 1.5% and fidelity, and fifth third over 1%. "the wall street journal" reporting they may raise capital by 20% and that's putting pressure on the sector and i want to make a pivot and i want to talk about the cryptosphere because the sec is suing crypto exchange binance over alleged violati

kristina partsinevelos joins us this morning. great seeing you. what does this mean? months. opec plus is produced in countries that contribute about 40% of the global crude supply. this weekend, they met in saudi arabia, the world's biggest exporter of oil said it would cut a million barrels of oil this july. this is voluntary for saudi arabia but it's also on top of a broader deal from the exporting countries to limit supply into 2024. when you cut supply, prices go up. wti crude is up to about $72 a barrel and eventually, that could trickle into higher gas prices for you and i. >> we're just learning the sec is accusing the world's largest crypto currency exchange, binance, of mishandling funds. >> they're suing binance and it founder on allegations of violating federal security laws. so the sec filed 13 charges that boil down to three major points. they claim binance failed to register as a trading platform. was offering unregistered securities and then also thirdly, misled investors about the safety controls on the platform. the sec also alleging that they led fo

kristina partsinevelos has more on this developing story >> hi. the department of commerce won't comment on any type of new chip curbs, but my chip sources have previously told me that they were expecting further restrictions this year it would require nvidia and intel to obtain a license to ship to china and other countries of concern, contributing to the initial sell-off that we saw in the stocks but a lot of them, amd is barely flat to negative, nvidia has turned around quite a bit. a lot of that has to do with the fact that you can't price it just yet and there's so much demand for a lot of these ai chips that it would offset any decrease from china. nvidia previously said the restrictions would cost roughly $400 million in q3 of 2023 but was able to create a less-capable workaround, maybe you can even call it a watered down ai chip, which could actually now be a target of controls keep in mind, nvidia gets roughly 10 to 15% of its revenue from domestic china, so that doesn't include hong kong. if you include hong kong, it's about 22%. and any

kristina, thanks kristina partsinevelos >>> a new law impacting those looking to buy florida real estate been so hot, some restrictions now. details after the break. ♪ ♪ every day, businesses everywhere are asking. is it possible? with comcast business...it is. is it possible to use predictive monitoring to address operations issues? we can help with that. can we provide health care virtually anywhere? we can help with that, too. is it possible to survey foot traffic across all of our locations? yeah! absolutely. with global secure networking from comcast business. it's not just possible. it's happening. from big cities, to small towns, and on main streets across the us, you'll find pnc bank. helping businesses both large and small, communities and the people who live and work there grow and thrive. we're proud to call these places home too. they're where we put down roots, and where together, we work to help move everyone's financial goals forward. pnc bank. good night! hey corporate types. would you stop calling each other rock stars? you're a rock star. you are a rock star. no more ca

eastern, hosted by kristina partsinevelos. do. going to be exciting >> good picture. >> you are going to answer questions -- >> we're going to answer questions, we're going to get this deep. a lot to do. tune in. >> all right meantime, a buzz kill on boeing. shares dropping after the giant issued a warning about a new defect on its 787 dreamliner the problem will delay the delivery of the planes the stock ended the day down around a buck and a half mike, it seems like one after the other in terms of reasons to delay. >> it is just a constant source of bad news, it seems, coming out of them. seems like every single time we kind of get something put into the background, something else emerges. obviously, the 787 dreamliner has had a slew of problems for a couple of years now, and then, of course, we had the big mess with the 737 max you know, it's -- right now, it's probably as carter likes to say, a pair of twos. i don't think there is a whole lot of good news built into this thing, because, i mean, we've sort of come to expect

this time it is chipmakers stuck in the cross hairs kristina partsinevelos joins us now with more onday. >> they did. but even though micron warned that there is an uncertain and fluid environment, slowing down its recovery plan, the market, to your point, reacting positively focusing on the revenue, the reiteration of full year capex spend at $7 billion. and importantly the ceos call for a bottom but, the chinese ban on its products is not going away with micron seen as a proxy in the china-u.s. trade war they reiterated the impact to revenue would be a low double digit percentage that's approximately half of china headquartered customer revenue. last october, the u.s. imposed restrictions on certain ai chips exported to china, on the far left of the screen china redtaliated and then calld for a ban just last month. china appears to be throwing up some roadblocks as well. for example, intel has plans to buy tower semiconductor for $4.5 billion, but just this past may, china said they need to review the deal for antitrust issues. and now the united states is said to be looking at add

. >> kristina partsinevelos joins us with more on what it might mean for coinbase's model going forwardust go break through everything because coinbase provided me wit a statement. s.e.c. accusing coinbase of operating since 2019 without having registered with a regulator, handling crypto transactions without providing disclosure requirements meant to protect investors. you had the sec chair calling the platforms a, quote, web of deception. coinbase has provided me with a statement from their chief legal officer and the quote is, the sec's reliance on an enforcement-only approach in the absence of clear rules for the digital asset industry is hurting america's economic competitiveness and companies like gase that have a demonstrated commitment to compliance the solution is legislation that allows fair rules for the road to be developed, transparently and applied equally, not litigation in the meantime we'll continue to operate our business as usual. this coin lawsuit comes 24 hours after the s.e.c. sued binance, 13 charges against the platform, and its co-founder also accusing them of r

estimates but after a pop last night shares firmly in the red down nearly 5% right now kristina partsineveloswn on what's been a very busy week for chip stocks. >> yeah. i want to start with micron and say it feels like a battleground stock. positive earnings yesterday with the bulls calling for a bottom in memory pricing and now the stock is down 5% with the pulse pointing to continued -- with the bears pointing to continued weak guidance. pc smartphones came in a bit worse and non-a.i. chips are taking longer to normalize but the memory chipmaker improved inventory there's the bull narrative piper sandler saying the stock has bottomed consensus is that micron is on this path to recovery, but there remains a major overhead china's ban on micron products leaving a fluid environment and according to micron's ceo would slow down its recovery plan. micron's seen as a proxy in the chinese-u.s. trade war recall last october, on your left, the u.s. imposed restrictions on certain a.i. chips exported to china. china retaliated doing a security review of micron products and then called for a ban just