that's weighing on the nasdaq. defensive names seeing the most strength utilities, consumer staples are among the biggest sector winners. and dc drama remains in focus as a government shutdown deadline looms and concerns over the debt ceiling remains. 59 minutes left in the sessions there. >> coming up on today's show, a rare interview with the former pepsico ceoindra nooyi we'll get her take on the big spending plans in washington and the role corporate leaders she says should be playing right now in shaping policy. >>> and why russ says we will end the year with stocks higher than where we are right now. >> the big stories today the "delivering alpha" conference is taking place today. start us off with the broader markets and the very nice jump at 2:00 p.m. >> we spent the entire day today within the range of yesterday's high and low, which kind of tested the down side a couple of times. it seemed like that may be involved in a little burst of afternoon buying it's hard to pin it on any real news catalyst. i do s

[closing bell rings] nasdaq another record, 36 records this year, folks for the nasdaq.lo, everyone, welcome to "kudlow." i'm larry kudlow. so we begin, what did they hide and when did they hide it? key democratic committees, house ways and means and senate finance are marking up massive unheard of spending and taxes plans right now as we speak. but they're not telling the public what they're really up to. so the answer to what do they hide and when do they hide it is, they're hiding it right now but information is startingo

nasdaq is the home of tech stocks. they're all down this morning because of this: the yield on the 10-year treasury right now is at 1.48%. that's up. but a few moments ago it was at 1.51. it had crossed over that key level of 1.50. that's a rapid rise that we're seeing. big tech does not like that. that's where we stand at the moment. cryptos, not that much change. bitcoin still around $43,000 per coin. the political news this monday morning might make you mad as hell. the biden/pelosi team has dumped our politics into hell week, excuse my language. they have to keep the government running after it runs out of money thursday night, that's problem one. second, they want to authorize $5 trillion in new spending which the9 president says will cost nothing, zero, he says s. and, third, they need to raise the debt ceiling so we can borrow trillions more. all this week just pack all that lot into one week. the media, the banks, wall street, they're all beginning to turn on this president. so welcome to hell week, everyone. i

down 2.5%, let's get back to the nasdaq and josh lipton.e us an update on the biggest laggards as the sell-off deepens. >> you can sort of take your pick of the sub sector i thought we would take a look at the cloud names and we need zoom, and they are all lower right now in today's trade and zoom on track for its worst quarter and going public back in 2019 pel peloton is hard to watch and we know apple continues to leverage its watch. payments are interesting paypal and square not having a strong day and robinhood and coin holding up relatively well. atvi in the green, take two and not doing much and an interesting sector and it's been rough sledding and some names today having a better trade. back to you all. >> josh, thanks very much. keep your eye on code this afternoon, elon musk, jason kylar of warner, marc benioff i'm scott wapner the sector under heavy selling pressure this hour and interest rates continue to move higher. our investment committee mere to debate what all of that means to your money with me for the hour today, amy r r

the nasdaq once again i believe all-time high up two-thirds of a percent. oil, there it is, up.23% and natural gas up almost 6%, the highest level since november 2018 natural gas stocks are higher as well to some power movers pvh soaring. the parent company of tommy hilfiger and calvin klein with revenue up 46% there you see it look at that gain there, 15% chinese internet names leading the nasdaq as they continue to rebound from a recent sell-off baidu, pinduoduo and jd.com seeing solid games >>> and ahead on "power lunch" -- >> a special meme edition of the power rundown. we are getting the technical take on three stocks including a bad review, and the stock in need of some support "power lunch" will be back ♪ music ♪ ♪ dream, dream when you're feeling blue ♪ ♪ dream, dream that's the thing to do ♪ ♪ music ♪ when you see value in all directions, you add value in all directions. accenture. let there be change. zero-commission trades for online u.s. stocks and etfs. and a commitment to get you the best price on every trade, which saved investors over $1.5 b

i would not be too concerned about it though, there are some key nasdaq names i would not sell them. liz claman, again, you've got the best hour of the day. it's over to you. liz: [laughter] well just as you were describing that, i thought it's kind of like traffic going in two different directions on wall street, as we kickoff this final hour of trade, right? the dow right now is powering higher by triple digits we seen a gain of 103 points but yeah the nasdaq has sort of languish ed in the negative territory all day long. right now down 65 points, as investors start the week by rotating from big tech to cyclical stocks, financials, energy, powering the dow with four straight sessions of gains and by the way we're looking at crude, it just closed at a three -year high. the mixed markets also show investors have a weary eye focused on congress in the next few hours. we may see real action in both the house and the senate as they grapple with trillions of dollars in spending, and a possible government shutdown, at the end of the week. our floor show traders tell us how to play both th

nasdaq winners. are there winners on the nasdaq. >> a games maker as well.'s biggest losers across the board. stuart: coming up forget threats from russia and china and they are focused on climate change. >> when we think defense we should be thinking defending ourselves against the climate catastrophe, defense against white supremacists, that would be real defense. stuart: age doesn't improve him, we have the story, it is a tad on the. kareem abdul-jabbar says on vaccinated nba players should be kicked off their team is. brian kilmeade has a thing or two to say. the far left climate crowd wants to reshape america with spending demands the arrival fdr's new deal. chad program will break it down for us. ♪♪ as someone with hearing loss i know what a confusing and frustrating experience getting hearing aids can be, that's why i founded lively. high quality hearing aids with all of the features you need and none of the hassle. lively offers bluetooth connected, fda approved hearing aids delivered to your door, sold at a fraction of the price, with direct access

the nasdaq's a little bit worse and more interesting to me so the nasdaq is 5.5% off its highs which shows you how they are in the stocks and i thin the statistic is 50% of nasdaq names are in a 20% or worse draw down that's a pretty big deal that's why when people are walking around saying bubble, it's hilarious everything is down 20% or more, but you might see the faang stocks start to succumb to the weakness all around them in the west of the cues and in the west of tech and maybe that will be the selling crescendo that we need to set up for a run to the end of the year. if you told me facebook could give another 7%, 8% away from here, think it could i don't want look at that as being non-constructive i would look at it as an opportunity. >> i think people would and probably you as well, pete and what was a nasdaq hanging on to positive territory has deteriorated over the last few moments or so. now we're negative on the nasdaq and to josh's point about the faang stocks not trading so well lately i've been reading these declines for the month of september every day, and they keep

nasdaq we're set as you can see for the 30th record close for the nasdaq. we're up by 44 points.he delta variant fears rising since we head for the fall, our "countdown" closer says fear not he has a biotech etf. dan howard, the biotech has been a hot sector during the pandemic. with will take it higher moving forward? >> i think a lot of sectors are higher, cheryl. we're broadening out on the bull marquette we're in. any pullbacks should be bought. i think they will be shallow and short-lived. biotech hit a 52-week high a while back. it had a little bit of a pullback. it is setting up nicely for the year-end rally. play it to the long side. there is great opportunity there. cheryl: i look at what the top holds are for in the etfs. can you give me a couple names? >> biogen, amgen, the usual characters in there. i think you're a better off as an individual investor buying an etf. you broaden out the scope. instead of picking the best needles in a stack of needles. buy the whole basket. you are better off trading that way. cheryl: i'm an etf index gal. i have been there for years.

let's go up to the nasdaq and down 3%. josh is there with more on the movers >> why is tech whacked today i checked in strategist for his take and nothing fundamental has changed in his opinion the valuations did get stretched for tech a lot of air developed the doctor says between stock prices and earnings and then says in a selloff expensive stocks lead the way lower. movers are apple positive commentary on the street today abouterly iphone 13 checks and did not help. apple 10% off the 52-week high amazon about 10% of the 52-week high barely in the green now for the year chinese tech names getting hit today. some of the worst in the nasdaq in today's trade smh, etf tracks the chips on the worst track since may 12th chips are everywhere and indeed of course the big brains powering so much from phones to cars, service to pcs investors selling them today. >> thank you we have recovered about 200 points in the dow. we are down about 783. we were down more than 960 at the lows of the session. take a look at the s&p 500 where

the nasdaq and s&p 500 on pace for the worst day since may 12 down 2.6% on the nasdaq. mike, this is d.c. related or rising yields pressuring valuations >> the most apparent effect is rising yields that are kind of undercutting the big growth stocks that we all know kind of punch above their weight in the indexes. you could see that yields peaked around 10:00 a.m they have ebbed a little bit from the highs and saw the nasdaq 100 bottom maybe a little while after that not bottom for good but they were come off the lows by about 1% and the way they trade right now. there's no rule that's ironclad saying they have to keep trading like that. i don't want to discount the fact that it's a very noisy environment that we have all the excuses to grab for for being cautious if you were looking for one such as the fact that we have the very clogged kind of congressional situation with the budget and the debt ceiling and the noise out there about the shortage driven price increases that seem like they work against the global recovery theme and contributing to the inflation. i get t

record highs for the nasdaq and nasdaq composite nasdaq 100 as well on the bond side, interest rates area to watch ahead of the jobs report on friday. the 10-year is a hair above 1.29%. we are watching the financials august was a very strong month for that sector overall. we have seen pressure in just the last few days. banks are the worst s&p over the last week. just duown about 3% during that span wells fargo, down 12% during the period, with a 5% drop yesterday. following drops again in the previous session if you are looking for a winner, check out media and entertainment. that sector gaining 7% in a week the biggest driver the last few days have been netflix, facebook, electronic arts and disney and cnbc parent company comcast. watch the media and entertainment sector surging >>> to the top story and remnants of hurricane ida slamming the northeast overnight and this morning as well torrential rain and historic floods creating a travel nightmare more many in the area and dangerous and sometimes, yes, deadly situations for others we have contessa brewer tracking the damage in ida

nasdaq up 27.cation, location, location." now it's, "network, network, network." so you need a network that's built right. verizon business unlimited starts with america's most reliable network. then we add the speed of verizon 5g. we provide security that's made for business and offer plans as low as $30 per line. more businesses choose verizon than any other network. we are open and ready for you. ♪ ♪ ♪ ♪ ♪ ♪ deposit, plan and pay with easy tools from chase. simplicity feels good. chase. make more of what's yours. >> a couple of tech headlines going into the close, it may be elon musk love so much but the cyber truck not getting under the road anytime soon. the tesla ceo confirming production on the side of the truck has been delayed until 2022 the announcement coming during all hands on deck meeting with employees warning the month ahead could be the craziest ever for deliveries due to the chip shortage and ongoing supply chain that even rocking the board tesla is fractionally down and take a lo

at nasdaq, we call it the "era of impact." and we're at the forefront of it.and insights to help you deploy an esg strategy to be seen as the company you aspire to be. every single day, we're all getting a little bit better. to help you deploy an esg s we're better cooks... better neighbors... hi. i've got this until you get back. better parents... and better friends. no! no! that's why comcast works around the clock constantly improving america's largest gig-speed broadband network. and just doubled the capacity here. how do things look on your end? -perfect! because we're building a better network every single day. >>> economic data for august coming in weak with consumer confidence and let's bring in tom lee from fund strike global advisers great to see you as always, tom. to what extent is this a bit of a slowdown for this quarter already priced in for the market >> i think the slowdown you are citing is positive for markets, because as you know, over the last eight weeks i think markets were worried about two things. one was the trajectory of the delta va

dow is down, nasdaq moving up a bit. 103 points higher.cause of that i'm in trouble here. amc, bail me out. lauren: they're only down 2% which is a small move for this company but i think the news is big. ma quarry downgraded them to underperform. they think the box office is week and return to $6. 80% decline. fundamentals are not there. this is reddit favorite but a lot of people are against this call. it is moving the stock. a lot of way to go to the downside. stuart: tell me about focus universal. i'm familiar with this company. lauren: they make sensors you use in homes and other devices. they just ipo'd. the offering $5.10. they're trading above 10. this is big winner. stuart: get me a smoke detector i can change the batteries easily. lauren: is it that difficult? stuart: yes. lauren: i'm always burning something opening windows and doors, going like that so the smoke detector doesn't go off. up 136%. stuart: i missed that. i know what they did. lauren: should have got in the ipo. stuart: vera bradley, why are they down 15%? lauren:

nasdaq is still lower.we come back, an exclusive interview with the ceo of clorox. how that company is positioning itself for the future. after the bell, oracle reports earnings it's been a big winner this year key things to watch, when we come back. that building you're trying to sell, - you should ten-x it. - ten-x it? ten-x is the world's largest online commercial real estate exchange. you can close with more certainty. and twice as fast. if i could, i'd ten-x everything. like a coffee run... or fedora shopping. talk to your broker. ten-x does the same thing, - but with buildings. - so no more waiting. sfx: ding! see how easy...? don't just sell it. ten-x it. with directv stream, i can get live tv and on demand... together. watch: serena williams... wonder woman. serena... wonder woman... serena... wonder woman... ♪ ♪ ace. advantage! you cannot be serious! ♪ ♪ get your tv together with the best of live and on demand. introducing directv stream with no annual contract. this is how you become the best! [wr

we saw that rally in the nasdaq and the nasdaq index as well.ave seen some rebounds coming through here in terms of easing restrictions for mainland travelers and that is happening and watching the age of crypto stories, that rocky start to el salvador taking bitcoin as payment. you have seen downward pressure coming from a number of these players today tom. tom: you have been tracking the theme in asia. focused on ever grande. >> it is raising concerns about a default here. we know ever grande is one of the biggest defensive worries. we had moody's yesterday cutting the rating, the credit rating and today that was followed up. they cut their credit rating to triple c.p.r. plus calling it a triple default. cutting from neutral to sell. we saw shares slip below their 2009 i.p.o. price. they have rebounded somewhat in the afternoon session. stock has dropped around 74% year to date driven by all of the negative headlines and the company hasn't sold a dollar bond since january last year. the next question is how much does it hurt suppliers? will th

the s&p 500 and the nasdaq headed for their worst day in four months. the dow has now turned negative for the third quarter. cryptos also getting slammed checking bitcoin, ether litecoin all as you can see taking it on the chin. today's market nose dive by the way comes as fed chair jerome powell testified before the senate banking committee warning inflation pressures may not be so transitory. take a listen. >> the supplied side restrictions that are so much at the heart of the inflation we're seeing have not only not gotten better, they've actually, in some cases, gotten worse, look at the shifts with the anchors down outside of los angeles and this is really a mismatch between demand and supply and we need those supply blockages to alleviate, to abate before inflation can come down. ashley: well, this as treasury secretary janet yellen said congress must raise or suspend the debt limit by october 18. so much to talk about let's get right to the floor show. that's interesting, is it not, the floor show, timothy anderson , chris robinson, gentlemen, th

nasdaq exhausted itself. coming down now.ts the most to increase in rates the single biggest macro fablg or the going forward will be the 10-year. creeping up that's going to have a deleterious effect because it's impossible to catch up on the profit side if interest rates start to really push up higher. >> ari, what is your outlook ahead of the fed meeting >> the 10-year is basing and should creep higher to year end and be a net positive for the stock market overall and we do see this pullback in the weakness and the volatility we see as the final stages of a capitulation or the final part to the selloff and a bull market opportunity to buy stocks. what's really notable here, the issue was that the weakness we had seen in the small cap russell 2000 for months now hadn't spilled over to the large cap benchmark. it is finally spilled over s&p 500 sold out as well with that the sentiment gauge from 4.0 to 2.2. least optimism since may 2020. from 89% nyse closer to 50%. so for the s&p 500 we see support at 4230. the may peak and

and weaver got the nasdaq and s&p at least slightly in the green. to the half now. >> welcome to the "halftime report" i'm brian in again for scott. by the way, welcome to september as well. and tradie kicks off with new record highs for the s&p 500 and nasdaq it's mostly rally on for now but many big names on walds are starting to sound a little bit nervous. so could this finally be as good as it gets for stocks at least for a while? will the merg cap names, apple, microsoft, you know the ones, continue to do the heavy lifting in the market? we'll discuss and debate all hour long with your investment committee today. and that is kari firestone jason snipe. joe terranova, let's begin with markets and money, the nasdaq in the green. another all-time high, fueled by, yp, apple. by the way, the s&p 500, you didn't hear it yesterday, we'll tell you again, coming off seven straight months of gains that is the first time that's happened since december of 2017. oh, by the way, if that's not enough for you, the s&p made 12 new highs in august. that is the m

we saw the nasdaq 100 underperforming the nasdaq so really big cap technology being impacted by this move in rates. karen, do you feel like this is going to be the story going into the year, into the end of the year in terms of this tug of war? rates go higher. tech has trouble the overall market has trouble because of the overall weighting of tech. >> we always think of the market as this monolith, but it's made of a lot of different stocks so there's a lot of things it can do well and less well. it was interesting how hard the faangs got hit today even harder than some of the higher flying names. so you know, as steve said, it's very hard to sort of trade around these things. pete can do it that's what he does. that's what he's great at. but for me to try to trade around my book to figure out when is the right time out and what is the right time back in and did i make enough of a, did i do a good enough job trading in and out to make up what i would have to pay in taxes i don't have a lot of confidence that i would be able to do that. so a day like today is not good for me i have a

the underperformance in the nasdaq, down on nasdaq 100 futures. the relative outperformance, and there's the crude move, up about $0.70. we move higher by 0.9%, $76.13. lisa: is this inflationary or disinflationary? how much will central bankers have to talk about the transitory nature of higher oil prices with supply chain disruption? at 8:00 a.m. we hear from ecb president christine lagarde, giving a speech on central banking. how much does she reiterate a more devastating's -- more dovish stance than the federal reserve and the bank of england, as they have not necessarily signal to same type of tapering as their neighbor banks? jay powell and janet yellen will be testifying. yesterday, talking about the passing supply chain disruptions. we heard that that does seem to be waning. yet that is very real for consumers. how do they respond to that? at 1:00 p.m. we get u.s. selling the $2 billion of seven-year notes. this tends to be a messy auction , and it follows that the five-year note yield is getting up to the highest level going back to febru

it is worse on the nasdaq. the nasdaq 100 negative i 0.75 percent.s are breaking out again, higher by three or four basis points. off the highs of the session, still close to 1.49%. euro-dollar might get your attention, a break of $1.17, down 0.2%. we are trying to put together some kind of coalition in germany following inconclusive elections over the weekend. in the commodity market once again, we add some weight to the crude price. five weeks of gains, and we had some. we are back through $75. tom: a move to $80 on brent crude. not there yet, but up to new highs moments ago as well. right now, joining us on the political moment and what it means for economics, finance, and investment, greg valliere joins us. always astute on the moment at hand. i am dumbfounded by democrats taking a victory now like it was 1964, 1965, with lbj. how much of a majority does a president have to ram through his set of legislative? -- of legislative pieces? greg: he doesn't have much. i think that was one of the biggest realizations over the last weekend. nancy pelosi

the nasdaq up right now more than 16 points. the nasdaq looking for two straight closes at-time highs. -- all-time highs. any number in the positive will do it. deadly damage inflicts on the northeast overnight by the remnants of hurricane ida slamming new york and new jersey with destructive force. at least 23 dead at this hour, search and rescue missions continue this afternoon. we will update the numbers throughout the show for you. and all of this is happening as on the gulf coast residents and businesses struggling to recover from ida's original impact. we're going to get you up to the minute details on ida's carnage, and we're going to go live back to louisiana to see where the recovery is right now. plus, warning that the broken covid supply chain could choke off profits in the second half. it ceo is here to tell us how it plans to get its products to store shelves, maybe that interview can turn that stock around. we shall see. and get this, a-rod walked away there from a spac deal as the 2021 spac pa lose saw may have hi

if nasdaq is dog well, big tech is doing well.pside but that is not a huge rebound by any number. look, it is 10:00 eastern. it is thursday. that mean it is mortgage rate time. i bet mortgage rates have gone up. lauren: above 3%. 3.01%. they're tracking the 10-year which is at the highest level sense june. freddie mac says rates continue to go up, that, good news that could bring home prices down a little bit. that is what they're forecasting. stuart: i'm not so sure about that. lauren: home prices up in july 20% for the year. stuart: i just don't see it. >> the demand and the labor shortage and material shortage. freddie mac is saying they expect prices to moderate if not decline slightly. stuart: 3% -- lauren: historically low. stuart: on a 30-year fixed rate low, 3% is historically very low. >> i agree. stuart: get on the program here, lauren. lauren: i remember when i was shopping for a house, my dad would always say the same thing. rates are low. that's why prices are high. when i bought my home back in 1980, rates were this

the nasdaq is up 42 points. 3 1/2 trillion dollar spending package? i think i have a good idea on the answer to that one. taxes. hillary vaughn on capitol hill. you learned about, what, two dozen tax tax proposals? reporter: higher price, more taxes to pay for it. that is what the senate finance committee is tackling today. with some of their members. they're reviewing a list of two dozen tax proposals trying to find agreement to include in the reconciliation package to come up with the $3.5 trillion bill but not all of it is going to be paid for but here is some of the taxes, tax ideas that have been floated on capitol hill as ways to pay for it. a lot of this is going to come down cracking down on the rich. they're going to spend more money on irs enforcement to catch tax cheats. they're also looking reinstating top corporate tax rate to 39.6%. they're looking taxing capital gains, raising taxes on corporations from 21% to 28%. another way to pay for this could really fall on the shoulders of investors. they'r

still in more of an up trend than the overall market is same is true for the nasdaq 100.o take a look at the software sector very similar the magnitude of gains year to date is on par with what the s&p is doing but the gains came more recently and you see that that actually is well elevated relative to where it was trading mid summer or so. also, above its 50-day average does that mean there's more air under these sectors to come out and rotate out of? that's one of the questions probably look to answer as we try to gauge the caliber of the attempted bounce this morning. >> thanks. i'll pick it up there. and kathy wood is known for aggressively rebalancing her etf's, selling her winners and using that cash to buy what she sees as undervalued. kate rooney has those details for us kate >> hey, julia. kathy woods arc invest swooping in to buy more high growth tech names or really beating down on yesterday's selloff. robinhood was one of the biggest. adding more than 400,000 shares of that trading across two different funds innovation and fintech fund coin based meanwhile was

s&p 500 down 2 and nasdaq lower by 6.s over the spread of covid. that certainly was the element driving stock lower yesterday. however yesterday the nasdaq did hit another all-time high notching fourth record close in a row, dow industrials were down 269 on the worries but the nasdaq was up 10 points, s&p up 15 and a half, once again we begin today's trading session in all-time high unchartered territory for growth and technology with the nasdaq up. european markets this morning are lower, take a look, fractional moves here but pretty much across the board down. ftse 100 down 45, cac down 32 and dax index lower by 138. in asia overnight, markets finished mostly lower with the exception of japan. nikkei average higher, about 1%, the others lower by a fraction. blackrock causing controversy with first chinese mutual fund. has already raised a billion dollars for that fund. cheryl casone with the details. good morning. cheryl: controversy about this, george soros, in fact, condemning the firm for its recent billion dollar in

and nasdaq 100 locking in three-month win streaks.oining us now, the spoke investment group co-founder paul hickie you look at the numbers and trends, the question, are we due for a correction >> well, yeah. i mean, really, looking at the tech sector overall is that we really have seen, you can't stress enough to how much the sector matured over the last several years. prior to 2013, the sector never saw experience to pull back -- always saw a pullback at least 10% in a given year. since 2013 on pace for the fourth year where it hasn't pulled back more than 10%. so tech matured. the maximum draws, median drawdown smaller in the last ten years than the prior 20. what you look at now is the current headlines for the technology sector are phenomenal you have, you know, a dovish bet. you have economic growth, but slowing. look at economic data points that we've seen since, in the last-since start of august all five regional fed reports shows deceleration, weaker than expected consumer confidence weakening, and then also you saw the miss i

, we've got thun believably large spread between valuation and the nasdaq versus the s&p. so that's -- we're seeing that shrink a little bit now going back to normal levels and there should be a premium because of the growth factor, but the market is just unsettled, but as you mentioned, your question i think it was to doc that today is the day that you're seeing it how many days in the past have we seen this immediate buying of the dip? this v shape from one day to the next where the market trades up? we're seeing less and less of that we saw less of it the week before last and then we had three days of buying i think that on the cusp of earnings season there's a lot of nervousness out there and a lot of jittery out there and you had unemployment benefits roll off and you had people going back to work, albeit slowly, but they're not as focused on the market and throwing money at it so there are lots of headwinds that i think we have to get past. >> here's the problem. whereas earnings were a positive catalyst in the past and we would look at and say what's the next cataly

nasdaq up 100. now this.ready to tie the knot we understand. 2 1/2 million weddings planned for next year. nashville, tennessee, that has become a hot spot, not so much for weddings, necessarily, but for bachelorette parties. madison alworth, lucky lady, is there. why is nashville so popular, tell me. reporter: neil, so sorry, well, stuart, the reason it is popular a couple things, i know, so bad. a couple reasons i'm sorry. i haven't had couple drinks. we're bouncing on a bus. it is difficult. the reason bachelorettes want to come here. looking at affordable prices. cheap flights and experiences like this one here, the open-air bus, obviously all of broadway. you said 2.5 million weddings. that is big business for nashville because this is the number one destination for those groups. they absolutely love to come here to have experiences. but for businesses here in nashville, it has been a big part of that covid comeback. i'm sitting now with the owner of this bus, honky-tonk party express. tell me, grant, wh

the nasdaq is down.ficial number of jobs going baking, covering the 10 million jobs going baking. why are these jobs not being filled? >> one reason is people don't want to pay for these jobs and the other one would be people don't have the skills that are necessary to fulfill these jobs, two possible reasons and to supplement unemployment benefits there would be a stronger incentive to take these jobs. stuart: could it be some people don't want to go back to their old job because they don't like it? some people retired in their late 50s and early 60s because they could afford to do it, they moved to a new state, all those reasons could be reasons we have 10 million unfilled jobs. >> all those reasons are correct and it is so unusual to have so many more job openings versus the number of people unemployed which is 8.4 billion so early in an economic recovery that even the unemployment rate is still relatively high, 5.2%, this tells us we have a tight labor market and we see upward pressure placed on wage

the nasdaq is the big issue. prices and natural gas is up by 3.8%. that does it for us today. join us tomorrow bye, guys. right now it's time for "squawk on the street. ♪ >>> good tuesday morning and welcome to "squawk on the street." i'm david faber along with jim cramer let's give you a look at futures as we get to open the market a half-hour from now numbers just out home prices up 19.7% in july compared to a year ago you can see, of course, jim, where we are headed here

the nasdaq is the big issue. we're just about where we started the opening, down 224 points which is a decline of almost 1.5%. oil prices and natural gas is up by 3.8%. that does it for us today. join us tomorrow bye, guys. right now it's time for "squawk on the street. ♪ >>> good tuesday morning and welcome to "squawk on the street." i'm david faber along with jim cramer let's give you a look at futures as we get to open the market a half-hour from now numbers just out home prices up 19.7% in july compared to a year ago you can see, of course, jim, where we are headed here it is all about perhaps the nasdaq that's where our road map is going to start right now, actually, with the -- let's call it a flight from tech. nasdaq futures, they're down sharply. bond yields, they're up sharply, and investors are awaiting any tea leaves from fed chair powell and treasury secretary yellen who both will be on capitol hill this morning >> plus, with tech under pressure, we're live from code lisa su on the semi shortage and a

nasdaq higher by 67.onomic data, the final read on the second quarter gdp will be out along with initial jobless claims at about 1 hour's time. 8:30 a.m. eastern. this after mixed performance yesterday for stocks. investors were rattled over the debt ceiling debating going on. the uncertainty of inflation as well. dow industrials ended up 90 points nonetheless but the nasdaq down 34 and the s&p higher by 6 at 4:00 o'clock on wall street. european markets this morning searching for direction. take a look. fractional move across the board in the euro zone, dax index is lower by 30 points but the ftse 100 is up 19. in asia overnight, mixed story there as well. china best performer nearly up 1% and others fractionally moving. kim jong un taking aim at the united states in a new speech overnight. cheryl casone with those details, cheryl. cheryl: kim jong un accusing the u.s. of are posing talks without changing its, quote, hostile policy toward his nation. ordered officials to take tactical measures. has sched

at nasdaq, we call it the "era of impact." and we're at the forefront of it.ovating technology, data, and insights to help you deploy an esg strategy to be seen as the company you aspire to be. >>> about 30 minutes left to go in the trading session lordstown motors higher on a report of nearing a deal to sell the ohio plant to foxcom the sale will help them raise cash and could be finalized this week the stock moving up more than 6%. >>> shares of virgie galactic soaring after the faa ended the investigation into the july flight which devastated from the restricted air space trading up more than 13% now the company is free to focus on the next flight which was postponed, that includes some members i think of the italian air force. >> a low way off the highs down about half a percent on the s&p 500. >>> it is time for a cnbc news update. >> hi. the department of homeland security telling immigration officers that lacking documents is not enough reason to be deported secretary mayorkas telling "the washington post" that the biden administration will continue to

tom: you are on the nasdaq. >> absolutely.terday that there is such a thing is that nasdaq 100 technology index. you take out a bunch more -- amazon kind of fits into the discretionary category. for the last five years, this tech index, which is equally weighted, has trailed the equal weighted version of the nasdaq 100, and this year it only got worse. the last three days you've seen the ratio between the x tech nasdaq, set record lows, that is just how much technology is dominating the market. if you look at the original nasdaq 100, 56 percent -- 56% of its weight is in stocks, and -- this is the industry classification, so this is one way of looking at markets. tom: david, thank you so much. enda curran is with us right now in hong kong, and this is really serious. we talk about the creditors of people that own this garbage, lining up legal help. does the government just come in and quote, unquote, help? who helps? enda: that is the big question in terms of how are all of this goes. nobody is calling bankruptcy or total fail

the nasdaq not so much. technology names taking it on the chin here in the face of these higher rates. we'll see how that goes. now charles payne. hey, charles. charles: neil, thank you so much my friend. good afternoon, everyone, i'm charles payne and this is "making money." the market getting back off the canvas after yesterday's gut punch but it has me wondering have we been spoiled by this rally? we haven't had one single session this year pulled back 3%. is it a cause for concern or should it make us more emboldened? i have a line of guests to help make sense of it all. jay powell's days could be numbered, how a thrashing from senators may be a clue that we may have a new federal reserve chair. what it means for your portfolio amazon showing new robot, not the jeffersons but could be for the company going forward, with moonshots and more. all that on "making money. ♪. charles: all right, so once again the market exhibiting really pretty good resolve, right? we were not up as much as we were. the entire

two, we are coming off a period where you've had a lot of outperformance by the big nasdaq stocks goingnto september. last year was the same kind of story, september 1st of 2020 you had a huge ramp in the big bang stocks. they were dominating high momentum move then you had them come off that peek and you had a broad correction market. this time it was not exactly only faang going up. you had an outperformance sector it seems to me that's one of the reasons they're not behaving as they kind of shelter, a source of new money they were very, very inflows into things like the nasdaq etfs that tells you why the market is unbalanced and we're not getting rescued like we have seen most of this year. >> mike, keep our memories fresh. >> yeah. we're a little below i think it's one of the 4370 area in cash s&p 500 is what we were looking for a little bit below that. we're kind of knocking around that zone. july, somewhat lower lows. so these are -- i think these are the kind of tactical touch points we're dealing with. still not at a 5% drop in the overall s&p even though a ton of the components

nasdaq is lower by 7 and 3 quarters right now.me. the dow and the s&p 500 snapped a 5 session losing streak yesterday but it was the nasdaq that was down posting 4 days in a row of decline. dow industrials were up 261 yesterday but the nasdaq was down 10. the s&p 500 up 10. let's check european markets this morning. we are looking at some pressure here. the euro zone right now showing a mixed performance largely lower. ftse 100 down 22, the cac down 27 and the dax index lower by 10 minutes. mixed story there. mixed story in asia, hang seng down one and a quarter percent. shanghai composite down 1 and a half percent. meanwhile back in the u.s. the bus driver shortage is prompting one state to call in the troops, cheryl casone with the details now, cheryl casone. cheryl: literally, maria. massachusetts is enlisting the national guard to help kids get to and from school. about 90 members are expected to start training in several cities across the state with 250 already on hand to help with this growing problem, school districts acros

this shows the nasdaq 100 against a shorter term moving average. 21 days. so it's essentially a four-week average. the reason, it's on a tactical basis, the one the index returns to once it overshoots to a fair degree if you look at these spots here, that's where it opened up a gap of 3% or so above there. we got there at the highs a couple of days ago so maybe it's a little gravitational pull and that would be when you'd say maybe we have to have one of these little shoots below that justtactically we're talking about. you have a lot of the big nasdaq stocks they need a breather we'll see if the rest of the market can continue marshalling the forces behind some support or not take a look at the industrial sector components of the industrial sector overall, holding pretty steady just going sideways. that's the xli the equal weighted industrials, rgi. that's more clear view of the average industrial stock but transports have had their correction kind of slanting lower and then aerospace and defense notably weak, whether it's budget concerns or our de-emphasi

there's the nasdaq which is off 2.5% the note, the ten-year note, the yield there 152. worst day for the s&p and nasdaq, and steve weiss, going to you first because your stuff jumps out to me big-time today you're shorting micron and you're shorting the smh and you're shorting the s&p 500 and you have puts in the ark funds, as well. >> right so i came in with those positions. i've also hedged some of my other positions and had some shorts on. look, micron i'm going to cover before the close because i think negativity is all there, although i can be fooled like fedex where i thought i was negative and yet it went down further. my view on the market has been pretty consistent that i just don't see the positive catalyst ahead. i see lots of negative catalysts and i'm hard pressed to think of anything positive, and let me go through a few of them. first of all, retail has stopped buying the dips the same way they were in past years, number one. number two, supply chain issues have worsened and labor issues have worsened and when you see that filter through to companies and

nasdaq up 30.eries of their see 1000 electric vans that include 41 vans already delivered. work horse says the vehicles need enhancements and further testing to be certified under federal safety standards but stock is down 13%. i want you to get into the speaker pelosi idea. what is behind this? >> we get advice on investing from tick-tock. i am being facetious. what congress does in public disclosures, the speaker is the one to watch. >> shout out to nancy pelosi, the queen of investing spent 300,$000 on this one stock. i have concluded nancy pelosi is psychic and she can guess when a stock is going to pump. >> it is not just the policys, lawmakers filed 4000 disclosures were $315 million in transactions. some of those are good investments. how stock watch and senate stock watch. stuart: guys sitting at home, watching and investing where they invested. and they are. what about gensler throwing shade on longevity of cryptos? >> gendler likens the cryptos to the wildcat banking area in the 1800s tha

nasdaq closing another record high big cap tech, the faangs leading the way. to these names given that you also like some of the cyclical value plays >> we really do. and this has been a great time to be in the technology business, especially the big cap tech which just keeps coming through. we're actually thinking it's time to take some of that technology focus and go back to the basics thinking more about value stocks and perhaps taking some of those technology earnings and winnings and moving them into, you know, the smaller cap technology names. also into some of the private investment activities we've been talking about with clients i think that this, what you are seeing, is we're in that inflection point between when and just like you talked about, the adp job numbers versus what we expect tomorrow, we're still looking above consensus because we think that a slowdown in unemployment benefits, people going back to school, a pick-up in the service and hospitality, those types of things are really going to continue to carry us and is going to carry those se

the nasdaq seeing the biggest decline since may.erything you need to know. plus pfizer pushing its message

the nasdaq is down 2.7%.rgy financials and consumer down a quick check on oil right now as i mentioned shows some of the red across the screen. wti crude heading down towards 70 a barrel, about halfway above that mark right now. it is nearly a 2% decline. the ten-year yield moving lower. more on the other side of the break including the travel stock and how homebuilders are reacting, each after positive news in the morning. back in a moment why is cvs pharmacy® america's choice for vaccinations? because we all got the covid-19 vaccine and flu shot. and i could make the appointments right here. save time, schedule online. no wonder cvs pharmacy® is america's choice for vaccinations. >>> welcome back, everybody. the markets are near session lows at which point the dow was down 843, down 761 now let's check on some of the biggest movers that's energy, the biggest laggard in s&p today, no longer the best performing sector this year even, replaced by real estate de'veon, occidental, diamondback energy, all down ab

what happened at the nasdaq?ing a solid lead about a half hour ago. let's have a look at big tech f the fallout is on them. actually not. microsoft, apple, google, still on the upside. amazon, facebook, amazon ticked higher. just facebook among the big tech companies which is down this morning. 10-year treasury, look at that yield please. we're at 1.32% despite all the talk about inflation, 1.2 is -- 1.32 is your treasury yield. that's down. now this. >> senator joe manchin says no to the 3 1/2 trillion dollar far left spending plan republicans cheer. they think manchin will stop the green new deal and transformation of america along socialist lines. they think he can own stop bernie sanders. manchin will not go for 3 1/2 trillion but okay with 1 1/2 trillion. should conservatives cheering that? no. i don't think they should. 1 1/2 trillion means higher taxes, much more debt. a whole lot more government. we throw the word trillion around like it is nothing. remember 1 1/2 trillion is 1,000,500,000,000,000, got th

nasdaq up nearly 50.ave been in that 1.25, 1.3 zone. 1.32 a little above that >> let's get you caught up on stories that investors are likely to be talking about today. first of all, lucid shares are dropping stock closed down about 3% yesterday. this morning down by 14.5% and if you check out shares of campbell soup they are ticking higher after the food producer posted better than expected earnings however full year profit forecast is below what the street was expecting as the company deals with higher input costs and a constrained labor market that stock still up .6 of 1% southwest airlines pilots are suing the company over changes made to working conditions as the covid-19 pandemic took hold. they said those changes should have been bargained with the union. >>> now to the broader markets and what investors could perhaps expect in the month ahead. mike santoli joins us now from the new york stock exchange. i changed that intro it said you would tell us what investors could expect in the month ahead. i

the nasdaq, go, up by 0.2. >> welcome to "closing bell. average did up the slightest bit, but enough to call it negative the nasdaq is the one lone standout the russell 2000 also loer coming up, the national economic council director brian deese on -- and how much longer the delta variant will weigh on the employment picture mike, we're going to give you the first comment here i know we talked about it earlier it's a shortened week, kids are back to cool. things feel like a restart. >> you you should get more participation, more volume more sing of-stock action going on. it's just steady and durable i think you would -- give back for the -- bigger picture, it seems like the market is just holding. the u.s. open is on. it's not impressing with the velocity of the upside move. the business nasdaq stocks are looking like they might get fatigued here. earnings estimates keep going up you know, september says that month when people at least remain on alert are they bullish still? >> clients of our team, as the market has just continued to move

you can see all of the major averages now higher, nasdaq up about 0.25%. >>> palantir shares of up aroundives details on its partnership with weejo dow great to have both of you with us rich, if i may start with you, just exactly very quickly, what it does in collecting daughters. it just from evs, all cars, what type of data points railroad collecting >> we work with 17 manufacture ore globally we see 7% of all vehicles in norse, and we get a vat round the data from these vehicles we have 20 times more than tesla, and we get ev data, lidar data when probably, sometimes location data, we get powertrain data >> does every driver or car owner know that you're getting that data, do you think, or is this something that might well be a box they didn't quite realized they had check at a point of purchase somewhere down the line >> nos there a clear consent process. we set up wejo that there had to be a clear consent process we have access to over 50 million vehicles so a very consent, and very price sigh purpose on how the data is used metatrends where we advise cities, into the markets, clear