we are looking at our worst day in a while the nasdaq down 4.5%, worst day since june for the nasdaq. tech is the hardest hit right now. as we've been seeing in this bear market when interest rates spike, the 2-year yield is at the highest level since 2007 and those interest rate sensitive tech stocks are getting slammed. i'll give you a live look at the worst performing s&p 500 sectors right now. again, every sector is in the red. at the very bottom of the list as you can see communication services, technology, discretionary, financials and real estate. that yield curve inverting even further where the 2-year yield spikes over the 10-year yield, a signal of recession. we're all over this market recession. we've got a great lineup of guests including david zerbos, anastasia ammaroso, dan niles and jason thomas we'll start with the market dashboard. our senior markets commentator mike santoli it is ugly five s&p 500 winners right now, that's it. >> this is a comprehensive washout. the market bet it all all black. the wheel spun and it came up red. that's the way to view the last week w

now nasdaq, we should point out, confirmed to us this is going on.omment on the employees i guess crying about going into the office twice a week. i mean, you know -- liz: it's a conundrum for managers. >> i don't want to make fun of them or dismiss this. coming back in the office in new york, we do it. it's not like fun. this city has got a crime wave that's beyond belief, it's got a homeless problem, nasdaq is located in time square, which ir there and -- liz: oh, it doesn't. nypd is all over that. i was there the other night. >> it's horrible. i was walking down past time square where i saw multiple homeless people talking to themselves and getting violent and screaming and, you know, the problem is that there's a random nature to what's going on in the city in terms of the crime wave right now, and people that work in these wall street jobs that have to take the subway are confronted with that random nature constantly and it's like you don't know if it's your time to get bashed in the head. liz: that's true. >> i'm telling you, it happens way too

dow, s&p 500 and nasdaq lower. nasdaq the worst of the bunch down almost 4% the dow the best but down almost 3% the communications sector down more than 4% as tyler mentioned as stocks fall bond yields are rising. yield on the 2-year rose to 3.7% to its highest level since 2007 w >> clearly the bond market expects the fed to stay aggressive on rates as the cpi comes in up compared with last year when the markets expecting inflation to cool a little or transitory so popular. let's get to steve liesman with on this cpi report and what it means. hi, steve. >> hi. the august inflation number making a huge disappointment for markets looking for peak inflation. all of that going the wrong way. i won't read the numbers the chart shows every number above expectations the most important is core cpi that's the withone. how did we get here? gasoline down 10.6%. food coming in hot housing is a third and apparel. not seeing the inventory, the bloated inventories in lower prices by the year end the market sees the fed over 4% an

the nasdaq down 3. one%.l had, tropical storm ian devastating florida, experts predict severe disruption, delays to the supply-chain, details on that next hour, majority of texas voters, 40% of hispanic and latino voters approve of governor abbott busing migrants to blue states. i wonder what texas congresswoman myra florez thinks of that? she is on the show next. i earn 5% cash back on travel purchased through chase with chase freedom unlimited. i earn 5% on our cabin. hello cashback! hello, kevin hart! earn big time with chase freedom unlimited with no annual fee. how do you cashback? chase. make more of what's yours. avino haons ofe he tar lstgeun vedepelod silver resources in mexico, adjacent to their flagship and producing mine. the transaction increases avino's resources to over 290 million silver equivalent ounces. avino silver & gold. millions have made the switch from the big three to the best kept secret in wireless: xfinity mobile. that means millions are saving hundreds a year with the fastest mob

, over 3% declines for the nasdaq composite one of the big drivers behind that tech weakness in the nasdaq composite has been some real weakness in two parts of the market, and hence the nasdaq and maybe s&p trade. we're talking semi-conductor stocks into a lesser degree fintech stocks the ticker smh for chips are now down 27 and 57% respectively i've put up the year charts here, because what we have in trading today are both of these etfs hitting frech 52-week lows. again, the semi-conductor stocks, as an overall index, hitting 52-week lows that may not bode well for the rest of that tech trade. it's something to watch for sure and then the stock of the day, it has to be apple we've got bank of america analysts cutting that stock to in essence what is a neutral rating they've also cut their price target at the same time, you've got rosenblatt's security analyst upgrading the stock to a buy b of a thinks that this is no longer as much of a safe haven trade as it once was, and it could be, you know, subject to weakening consumer demand. rosenblatt says their channel checks and surveys think

nasdaq still down by 123. as for the nasdaq, this is the longest losing streak we've seen for the nasdaq since february of this year. so yes, the first day of september trading, taking the index tumbling towards correction territory. if the nasdaq closes below 11,815 points, it is officially in correction territory. so we may likely get that investors have been bracing for a shaky september. the month is historically bad for equities, and the worst for the s&p 500. the index falling is 1.03%. for the month of september. the dow, after being down 299 1 points at some point today, completely hoe reversing course, and it is these four stocks, you're seeing them on your screen, that are driving the rebound from the lows, adding about 100 points. amgen, mcdonald's, j j&j and united health. while the equity market feels like a guessing game, cash is still king. the 2-year yield continues to skyrocket now sitting at 15-year highs. treasuries have benefited prosecute uncertainty currently driving the markets down. inv

we have a decline of 2.5% of nasdaq 0 .9% for the s&p. 0 0.76% for the dow. last month was a rough one we saw the russell around 4% or some of declines for the dow, s&p and nasdaq tech was the worst performing se sector energy is the best particularly interesting with the first two weeks of the month positive continuing the rebound we have seen in july the final two weeks of the month are negative that we ended up down 4%. bond markets this morning. yields shot higher yesterday the 10-year treasury crossing 3.2% briefly this morning, 3.20%. we remain significantly inverted 3.5% for the 2-year treasury let's have a look at the oil markets. crude off the 9% slide of the month of august. worst month going back to november when wti lost 20% in a month. august marked a third straight down month for oil the first time it happened since april of 2020. you see it is down 2% this morning. down below $90 $8 $87.70 oil is down 5% again continuing the weakness from the elevated levels we got to in the early part of the year let's have a look at cryptocurrency bitcoin and

nasdaq better by 75.oining us now, er shares coo, chief investment strategist eva ottos who manages 500 million, half a billion there. and, eva, you are specifically looking right now, knowing that the markets could be volatile at companies and stocks that have margin muscle. first, before you get to them, tell us exactly how you spot that? >> so we are tracking 56,000 companies globally and out of these companies there are only a couple hundred u.s. banks are profitable and able to expand their margins. what we want to see is a company able to keep their gross margin constant, ideally grow it to keep sg&a costs in line, ideally cut them and keep their ebitda margin in line and grow it. they are not that easy but they do exist. liz: let's get to them. i know our investor audience is very eager to hear some of these. >> so first of all we like shock wave. that is not that well-known but interestingly out of all the u.s. based companies that have market capitalization above 10 billion this is the, this cop

dow is down 900 points nasdaq as we said earlier, 4% decline. if this holds, this will be the seventh one-day drop of 4% plus for the nasdaq this year don'gowat ay. - oh, the stock market is doing that fun thing again. news from the future: you're going to live through that about 10 more times! (laughs) no stress. i just discovered yieldstreet. they vet investments that don't ride the stock market rollercoaster. - [narrator] yieldstreet: private market investing. your shipping manager left to “find themself.” leaving you lost. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire >>> a gut check on adobe, down to market perform highlighting concerns about the durability of creative cloud from a recent survey they see employees showing greater willingness to move away from creative cloud and that generates about 60% of total revenue. you can see the stock down 5%. also down graded the stock to neutral saying there is a more challenging enviro

up 2 1/2% nasdaq down 3.3%, s&p 500 lower by 3%. so far this week. one problem, yields moving higher to look at 10-year after topping 3.7% for the first time since february of 2011 yield on 10-year stands at 3.761% up almost 5 basis points, the federal reserve isn't only one raising rates fedex increasing the cost of delivery by average 6.9% in effort to cut expenses, inflation remains in shipping, 9:25 a.m. s&p global purchasing managers next out the manufacturing services purchasing managers neksz typicallyly a market mover another window into the economy as fedex shares are down 2 1/2%, right now, we are also watching the rail companies today as the rail unions vote on tentative deal with management dow jones industrial averages transportation average down 25% year-to-date, european markets this morning also lower the bank of england and swiss national bank raising interest rates yesterday, norway as well as south africa all on the board of higher interest rates, ft 100 down 158, as uk unveil a surplus package, taking debt higher

the nasdaq is indeed in a critical spot. like in june, when i talked about the week 200 being a risk factor, that is a risk factor of 3 to 5% lower. now the entire market is pivoting off yields. you saw the doj mentioned that tonight. there's a critical point approaching. if you see any of these charts reverse on the yield in dollar front, the market paradigm could shift dramatically. but as long as they don't, you have risk blowup. that is the challenge for everyone right now. >> yeah. you are focusing on the nasdaq in particular, but even within their, software. right? >> absolutely. if you look at that comment is actually close to the june low. they also have to pull support. i have the silver lining for everyone. any of these flows, if they come, and we cannot be sure of this yet. ironically, markets are still holding above the june lows despite dollars rising to new highs. if we get new lows, a set off technically for positive divergence. market is still setting up for a by, contingent upon yields in dollar rivers. >> y

and nasdaq is down 2.25% everything in a bear market. dragging the market lower today alphabet, amazon, tesla, all of them lower and by up to a 4, almost 5% in the case of tesla. tesla among the worst performers in the nasdaq right now. fedex is lower after announcing a 7% increase in shipping rates and plans to cut another $4 billion in annual costs. remember, shares had their worst day ever last week there you see that worst day ever, as you come right in there. and here, the ekg continues to wobble a little bit lower. a profit warning last week is what sent it off the cliff there a week or so ago costco is down despite an earnings beat. operating margins came in slightly below consensus and the company said it had no immediate plans to raise its membership prices there you see a falloff in costco look at that, wow, over the two days, i guess it's a two-day measure there, down 18% right now. my goodness. so speaking of costco, it's holding up even though the group is on pace for its third straight negative quarters, there are standouts

we're down 2% this week on the dow. 3% on the nasdaq s&p between.e have a great bounce from yesterday afternoon. otherwise the week to date picture would be worse that does it for "worldwide exchange" on this friday coming up on "squawk box" with the jobs numbers is becky and mike santoli and steve liesman don't go anywhere. stay with cnbc it was just take, take, take. so i broke up with bad banking and moved to sofi checking and savings. now i get higher interest, pay no account fees, and get my paycheck two days early. break up with bad banking. get 2.00% interest, pay no account fees, and get your paycheck up to two days early. download the sofi app and earn up to $300 when you set up direct deposit. sofi. get your money right. pst. girl. you can do better. you set up direct deposit. at least with your big-name wireless carrier. with xfinity mobile you can get unlimited for $30 per month on the nation's most reliable 5g network. they can even save you hundreds a year on your wireless bill over t-mobile, at&t, and verizon. wow. i can do better! ye

the dow, the s&p 500 and the nasdaq all sitting firmly in the green. the nasdaq, the leader of the bunch higher by 1.6% the ten-year yield falling.3% and this adding roughly 16 basis points in trading yesterday and crude, check this one out. down 5% on concerns of the economy. apa, baker hughes and aog resources the worst performing energy stocks. >> the fed vice chair brainard this afternoon said the central bank will fight inflation as long as it takes and the likelihood of a three-quarter-point cut fed hike as the fed meeting rises to more than 80% our next guest has stock picks for this changing investor pick, and mike with fbb capital partners mike, good to have you with us how do you handicap the likelihood of a three-quarter-point hike versus a half-point hike and how would it affect it differently than other. >> i would hate to say a foregone conclusion of a 75-basis point hike and that's consensus at this point, and if that were to happen in a couple of weeks and i wouldn't see a major impact on markets and the question is what's next. is ther

dow industrials down 400 and the nasdaq down 153. "varney" & company begins right now stu take it a away. stuart: good morning, maria, good morning, everyone. this is a big day for the republican party. they released their commitment to america, it's the plan to re take the house and the senate. republicans say they will run on kitchen table issues inflation education crime the border and freedom. we'll tell you exactly what it says. and this is a very big day for the markets. central banks around the world are raising rates following jay powell's lead and investors are selling big time. the dow industrial average is only a half percentage point above its june lows and looking at a 400 point decline at the opening bell this morning. it's going to be below, it is below 30,000. the s&p 500 way down on the downside, 52 points lower but look at the nasdaq. that could drop below 11,000. it could, it's down about 150 at the opening bell. now, we've seen some extraordinary movement in treasury yields, straight up. the 10-year now pays you 3

the dow is down a couple hundred points and the nasdaq down about a hundred.is three and a half minutes time we need professional advice for your personal financial management and we got the very guy, joe duran is back with us. now it's an important fellow. he's the head of goldman sachs personal financial management. welcome to the show, joe. >> it's good to see you in person. stuart: that's right. first time ever. >> yeah. stuart: let's get serious. if they raise interest rates, 75 basis points, tomorrow afternoon what's the market do? >> very little, whatever is priced in already. there's a small group of people that it might be a hundred, it's unlikely. i think it's more about like how soon and how much happens next and we think that there's a high likelihood we'll end up at 4% by year-end which means another -- stuart: federal funds rate. >> yeah, and that again i don't think will surprise anyone. what people are looking for is signs that we're near the end or at least hitting a pause moment , and certainly, you're starting to hear a lot of other people s

the nasdaq is clocked. down 614 points.t is one massive percentage drop here of full five percentage points. can you dip your toe in tech at all right now? >> i think you need to wait a little bit, i really dome. do. it is not because rates are going five, 6, 7%. all the momentum is to the downside. if i don't get in now, liz, if i miss, two, 3, 4% to the upside. i'm okay with that. i need to see the dust settle. now when you talk about tech, there are two names. they're not necessarily tech. actually three names. nvidia is one of them. microsoft is one of them. apple is one of them. i think this is a time where you can start dipping your toes there. you absolutely do not want to put a full allocation in. i think this is the time. i'm not so sure but i think we may see a little bit of an overreaction today. we may try to get a bounce specifically in those three names. liz: scott bauer, scott redler, i know you guys have spent the last few minutes of this trading session talking to us and we appreciate you sharing it. [closi

we've told you about the point prices the nasdaq and s&p down significantly, too the nasdaq, in fact,re context on that selloff from yesterday each of the three major averages had its worse day on a percentage basis since june of 2020 it was the fifth largest point loss for the s&p 500 in history and the 7th largest point loss ever for the dow home depot led the dow lower it contributed to about 129 points to the down side yesterday and only 5 stocks in the s&p 500 finished higher including agriculture chemical names like corteva, cf industries and mosaic. they're the best performers up 30% each. >>> coming up, a deep dive into the latest carnage in the tech sector not having fun after yesterday's unexpectedly hot cpi print loop. gene munster, loup we've got a ppi number coming up too. more inflation data and economists expecting producer prices moderated slightly last month. we'll know in a few minutes and we'll bring you the official number at 8:30 stay tuned you're watching "squawk box" on cnbc this is ge profile smarter wash technology. fully optimized cleaning, no more guessing.

nasdaq down 117. treasury market is looking at higher yields. 10-year treasury at 3.44%. 2-year treasury at 3.9%. getting close to the 4% level that we've been talking about for a long time. crypto has been under pressure 18,4 for bitcoin i'll talk more about the markets in a moment. let's go live to london where the funeral for queen elizabeth ii is beginning at westminster abbey. se steve sedgwick has more. >> reporter: becky, thank you. this is the first of three ceremonies this is the state funeral. later in windsor, the commitment service for the queen and private burial service members of the guards carrying in the queen's coffin and the standard and septre and crown. it made a short journey from the westminster hall to westminster abbey. president biden and dr. jill biden paid respects yesterday. the procession took a short journey to westminster abbey through the west gate. we see the procession followed by the king, king charles iii, followed by his sister princess anne and behind them is pri

it has been five months for the nasdaq.asdaq chart, more than 50% retracement off those june lows. so we did have a little bit of momentum going and it is all gone. we have some gaps on the downside. could we expect maybe to go down and fill those? >> i think the big story here when you kind of look at the progress we made and quickly gave back, how quickly can we reclaim that 12,000, 12,500 level? if you look at qqqs, back above 300, that is where a lot of big downside volume, the downside pressure from the last couple weeks is from. if the bulls want to have a chance they have to defend 11,000 on nasdaq, quickly get back above 12,000. it's a question to me of leadership. nasdaq putting in a price low, i don't think it returns as leadership anytime soon. charles: the s&p, the s&p 500, you just mentioned how many days the nasdaq has been under its 200-day moving average. it has been under its 200-day moving average for over 100 days. >> yeah. charles: to put it into perspective the longest streak since the global financial

dow up 230 and nasdaq up 250. mike murphy joins me now.d you call this just and dismiss it as just a bear market bounce? >> good morning, stuart. i'll take the bounce. i'm not going to say it's just the bear market bounce. we're down here at the lows that we held last time and rallied very hard off these lows. we may go lower, stuart. i mean, depending on what the fed messages to the markets, we could go lower from here. we could go 5% or 10% lower but for people invested at home, a lot of the damage has already been done. we're down over 23% on s&p 500 year to date. so whatever the bounce is, we'll take it because eventually we're going back higher. stu: does it make much sense to sell out now after weathering this storm on the downside? unless you think that the market is down and will stay down for a very long time. in which case if that's you're out look, get out of stocks and into something more safe. >> absolutely. i don't know what that would be. if you look back over the last say 100 or 150 years, the u.s. equity market has been th

the nasdaq is now up a third of 1% so solidly in the green nasdaq 100 turned positive over the coursesectors like technology and industrials, joining health care, financials and materials. biotech is rallying hard today the ark innovation etf is up 2.3% so it's hard to understand exactly what to make of the thread on a day when the ecb did a jumbo rate hike and powell talked tough on inflation. >> on some level, the market continues to feed 5off the fact that it did get oversold with almost a 10% drop over three weeks. you do have yields and the dollar is still pretty tame so it's not necessarily throwing up a roadblock to a little buying here sentiment is a little bit leaning in a pessimistic direction. that's probably a help although i don't know that any of that means ark should be up 3% at this moment. >> let's do bitcoin. it's falling nearly 4% -- actually we're going to head -- a tweet that just came across, scott meinhard just came out with a pretty bearish call he tweeted that stocks could fall another 20% by mid-october. and i said he will be on "overtime" at 4:00 p.m. easter

the nasdaq is up 0.8%.ow 3.30, reversing a trend we've seen lately a lot of companies rushing into the bond market to get funding ahead of the fed meeting "squawk on the street" will be right back ♪♪ the ey entrepreneurs access network has a tremendous impact on my business because it's given me networks, access to capital, and access to opportunities. the level of coaching that i get has had a tremendous impact. it allows companies like mine and others to grow, and it closes the wealth gap in this country. ♪ ♪ ♪ ♪ ♪ ♪ >>> dow is tacking on 80 points to begin a very busy today, tech is leading amid some weakness in the energy complex a take a look at tesla, as well as musk can now amend his complaint to add the ise-ow, t ste whtlblerbumu b ready for trial on october 17th. we're back in a moment at fidelity, your dedicated advisor will work with you on a comprehensive wealth plan across your full financial picture. a plan with tax-smart investing strategies designed to help you keep more of what you earn. th

i suppose typical, after this kind of a long-term down trend now, the nasdaq, nasdaq 100 or composite have been leaders to the down side here we see major stocks this week. microsoft, alphabet, under cut lows hit back in june. so clearly seems like there's head winds there is there a different story with the nasdaq or is it essentially the same story, but, i guess, more so? >> well, it is it is exhibiting down-side leadership coming from the mega caps we cited a couple weeks ago the breakdown in nvidia being a bad example for the rest of them and now we have google we have alphabet and microsoft meta already has broken down these breakdowns are becoming very widespread, the summertime lows unfortunately indicates the major indices are likely to do the same and unfortunately the high-growth stocks i think a lot of investors put hope into suggesting they perhaps found their bottom i think unfortunately they'll be surprised to the down side here with those likely to follow suit especially if we see heavyweight apple break down the level i'm watching on apple is around 150. if it is taken

nasdaq was a little farther along there, up 0.10%. looking to reverse a little of last week's losses remember, we were down 5% on the s&p. what's working right now it's materials, industrials, consumer technology is also doing well, as you can see by the nasdaq health care, real estate, energy, that's what's underperforming. the chart of the day is the ten-year treasury. this is going to be very much in focus ahead of the fed hitting its highest level earlier since 2011, touching about 3.5% as we await wednesday's fed decision coming up on the show today, morgan stanley's chief economic strategist mike wilson will join us and talk about why he thinks wall street's expectations are still too high. >>> an extremely rare interview with the ceo of ralph lauren it is his first tv interview in the role he's been ceo almost five years. he'll join us on the back of the company's investor day for a closer look at the customer and the consumer stock is moving higher. >>> senior market commentator mike santoli, ahead of the fed, kind of quiet. w

nasdaq lower by 5.reasury is lower as we await the european central bank interest rate decision. it is trading right now at 3.2%. we were at 3.3% yesterday. turning to the oil market. crude prices falling to the lowest level since russia i invaded ukraine on recession fears and trade data from china. look at wti crude at $81.32. ice brent crude below $90 at $$ $87. >>> let's get a check of the stories this morning with pippa stevens. >> shares of gamestop are surging ahead of the open despite reporting that sales declined kwquarterly and losses grew the company reveals a partnership with crypto exchange ftx. it will start selling gift cards at some of the stores as part of the union. the move marks the company's latest crypto venture after launching a digital wallet earlier this year allows transactions it is building for gamers and others to trade nfts the ceo of amazon said the company has embraced remote and hybrid work. amazon's policy is evolving. jassy said most employees have returned to offices.

s&p and nasdaq almost .7.75% higher in early trading. s&p hitting a new low on thursday investors happy to leave a very tough month. all three indices deep in the red in september one of the worst months for stocks look at this action here the dow down 7%. s&p down 8%. nasdaq is the hardest hit down more than 9% we are checking the bond market right now. yields moving a little lower 10-year treasury at 3.71. 2-year treasury over 4%. again, something to watch. also watching the oil market ticking higher on the thought and reports that opec plus might do production cuts wti at $82 a barrel. brent crude at $90 a barrel. in crypto, bitcoin below the level of 20,000. moving higher in the pre market. bitcoin at $19,500 ethereum up .50% xrp. having a really good month up 12% this morning. >>> let's get to the top stories. bertha coombs is here now with more on those. good morning >> good morning, frank a bill to fund the government is one step closer to be approved the deadline hours away. the senate thursday approved the short-term funding ext

we talk a lot about the nasdaq 100, we hear in the u.s. so much of the global make talk -- mega tech is on the u.s. -- nasdaq 100. we have seen the impact of the pound push higher. global tech has fallen. the nasdaq one is kind of outperformed a little relative to the rest of the tech stocks. katie: it was an interesting day, they closed a half a percent lower than the nasdaq 100. the s&p 500 was down about 1%, was not outperforming. it was thanks to the megacap tech, the likes of amazon, apple, tesla to squeak out gains. the sheer size of the companies, that's going to mask a lot of pain at the index level. vstoxx -- the stocks have been following for a while now to the detriment of the index. the yields are higher, the discount rate is higher, but we are talking about amazon, does it really matter? manus: we have done a poll and we asked a question, where does the nasdaq 100 end the year? what's astonishing is the strength of the response. you see it on your screen. around the 11,000 level, a vast majority see us going lower to 10. a sma

stuart: 14 minutes to the opening bell cows down 50, nasdaq 50, kathy hochul looking to get rid revenueowered vehicles in the state by 2035 kelli o'grady has a story in new york how does the governor proposed to do this and make it happen. >> that's the issue critics are saying is more of an object deadline versus a viable plan and we actually saw this take effect in california a few weeks ago so it seems like states are following suit i want to give you some specifics of your ticket 2035 far off 13 years away the reality is a lot sooner the transition calls for 35% of new sales to be omission by 2026. stuart: i'm sorry to interrupt you 35% of sales will be omission in 40 years. >> exactly. >> two thirds omission by 2030. >> sorry to interrupt you. >> i think that's an important point this is coming a lot sooner governor hochul announced they will get a 2000-dollar rebate but that does not do much with average cost of an ev is $66000 and even the nissan which doesn't give you much that cost $28000 and that's if you can find them in stock we talk to drivers they are not against the green

the s&p 500 down two point 9%, more pain in the nasdaq down 3.6%. read on the screen across the bond market. talk about where we go from here. this is bloomberg. ♪ kriti: this is bloomberg markets. we are seeing a selloff in the markets, let us continue the coverage following the latest cpi report. joining us now is tatiana. there is a lot to not appreciate and be a fan of and the cpi report, is there any good news in terms of an 8.3% rate? tatiana: all aspects of the cpi report have been pretty bad, there is a silver lining. it is elected the entirety of the cpi basket, the 260 items and items that have been rising to 4% plus above the fed rate. that has decelerated from the mid 70's to low 70's, we have a chart to show you. share of items that are going above also decelerating, so perhaps a little bit of news this is a broad-based increase in our moderating. still, as other measures have shown, not to the speeds and not as the fed would like it to be and still high compared to pre-pandemic averages. jon: helpful context, especially when we had the

100, also by the average equal weighted nasdaq 100 and now finally the typical nasdaq 100 stock is aligned over three years with the broader s&p 500 equal weight however, you still do have this big performance gap, and it's where i keep pointing out it's where the valuation premium, and if there's excess, that's where it sort of remains it is in those large stocks. so, you know, you're seeing a day like today, the big cap nasdaq stocks are doing a lot of work for the index, that's going to happen mathematically on a raldy day. i'm not convinced we're seeing a big swing back in this direction in terms of market leadership. >> on that front, mike, reuters has a piece out this morning basically arguing that a lot of internal factors, breadth, momentum, trading patterns suggested that the market has degraded, at least technically, and that does raise concerns about its future path. >> you know, i guess it's a matter of what time frame that's occurred upon, you were still feeding off of, to some degree, the benefit of the doubt thaft built up by the strength of the june rally the fact we didn't

the nasdaq off 3%. that's more than 330 points. check out shares of peloton.t is a big loser today. the company announcing it will begin to sell its products at dick's sporting goods. the first brick and mortar partnership it announced stay with us >>> welcome back to "tech check. i'm frank holland. the score pce was revised higher a rarity for those pictures. the cleveland fed president said current fed interest rates are not restricting the economy. >>> concerns about higher prices, weekly ly jobless claim went below than expected carmax is the biggest loser in the s&p 500. now down more than 20% after reporting earnings far below estimates. the company blamed economic factors that make cars less affordable other auto-related stocks are down sharply >>> in germany, porsche rose on the first day of trading the carmaker is one of europe's biggest public offerings ever. >> franks, thanks very much. >>> let's start back to apple. the production pullback is not swaying our next guest he is keeping an eye on cyber names like z-scaler and palo alto markets. we are

the dow, s&p and nasdaq slightly higher. here we go with the treasury yields and the ten year well above 3.5% at 3.57. the two year topping 4.1% earlier, that is the highest in 15 years down 4.06. onto politics now. the economy topping the list of concerns for voters on numerous polls but many democrats are focusing on abortion. will the strategy work in november? we'll get into that story. protests are erupting in russia following putin's call to mobilize more troops and there's been over 1400 antiwar protesters detained in russia, not to mention flights out of there are selling out. the homeless crisis in los angeles is escalating at a rapid pace. a homeless man is caught on camera hurling f feces at a business owner and that owner is here and calling out officials for ignoring the crisis. what a story. we've got a big show as always. molly high hemmingway, molly, brett, and katie among others will be here. it is thursday, september 22, the first day of fall. "varney & co." about to begin. varney: ♪ ashley: it's a rather d

we'll see how that works ouchlt nasdaq -- works out. nasdaq, meanwhile, more on what you need to know to handle the volatility after the break "tech check" is just getting started ♪♪ welcome to life in the new digital landscape. where the future arrives daily, innovation keeps pace with imagination, and creativity and commerce thrive. this is the new open web. wide-open, cookieless, and transforming digital marketing. where offline and online measurement is the new way forward. so you can see the full impact of your media spend. where respect for consumer privacy drives connections. and emerging channels open doors to new customers. viant is pioneering a new approach to media. combining ai and human insight to create a world where the future is wide open and the possibilities, endless. viant. built for the new open web. built for now. >>> a gut check on qualcomm. shares down, let's see, about 2 1/2% today, a little more than that despite announcements from the company's automotive investor day where we brought you previews yesterday whe

the dow is down 400, nasdaq is down about 170. that's a sell-off.ongresswoman karen bass said she felt very safe in los angeles, then there was a break- in at her home. roll tape. >> i did feel safe until my safety was shattered like so many. we need to get officers on the street as fast as possible. stuart: she is running for mayor of los angeles. she was in favor of defunding the police and now she doesn't feel safe in her own city. californian steve hilton hands that later in the show. senate majority leader chuck schumer was overheard saying speaker pelosi was "in trouble." on this show conservative matt schlapp said pelosi was done. i wonder if his wife, mercedes, agrees. i'll ask her, she's next. ♪ ♪ go. go green. go wind turbines. go gorgeous reliable grid. go emerson software. go science people. go breakthrough meds and safe science. go space age welds for super silent cars. go big. or go home. from software that delivers new cures at warp speed, to technology that makes clean energy reliable, emerson innovation helps make the world healthie

the nasdaq is the one that joined the losers category this final hour of trade.tarted hour higher. it's been higher most of the day. tuesday's market meltdown has many investors running to the hills, but up next we'll be joined by two market bulls to tell us where they are finding opportunities right now. >>> and you can find more "closing bell" on your favorite podcast app. dow down 177 now we'll be right back. flexshares are carefully constructed. to go beyond ordinary etfs. and strengthen client confidence in you. before investing consider the fund's investment objectives, risks, charges and expenses. go to flexshares.com for a prospectus containing this information. read it carefully. power e*trade's award-winning trading app makes trading easier. with its customizable options chain, easy-to-use tools, and paper trading to help sharpen your skills, you can stay on top of the market from wherever you are. power e*trade's easy-to-use tools make complex trading less complicated. custom scans help you find new trading opportunities. while an earnings tool helps y

the nasdaq is down 490. chin. the blue origin, explosion. ashley: it was the unaccrued launch of the new spacecraft that ended up in that fiery explosion. it is being investigated by the faa. a minute into the flight they suffered an unplanned separation from rocket booster. the capsule did return to that safely. that is a silver lining, blue origin isn't giving details. in the meantime, the faa -- >> connell mcshane has been listening in. what are they saying? connell: there's a lot being said. working inside of twitter, senator chuck grassley, a week before he was fired by the company, and the former executive, he goes by the online handle budget. the timing of the testimony is here on the same day that twitter shareholders are voting on offer by elon musk to take over the company. the same offer musk is trying to get out of it. a big picture, what mudge is telling me? prioritizing profits over social security, they don't even know what data they have. >> employees than have too much access to too much dat

, is 1 -- # 1,882 on the nasdaq.nt. now let's take a look at lululemon, up big today. susan li,,s is that because they handed many a strong report card? susan: absolutely. it also shows wealthy shoppers still have the cash, and they're willing to spend it on the expensive leggings and at pleas. better sales, better.. -- profit. we talk about retailers in high inflation which means consumers aren't spending as much. not the case, they said inventories are actually less than a year ago and, in fact, they're under-inventoried due to supply-chain bottlenecks. as a result, they're raising their outlook for the year, and remember, this ises in contrast to nordstrom, macy's. lulu's store traffic, this was incredible to me, up 30% from last year. that shows that demand -- people want those legging, and they love hair spandex and lie lycra from lulu. ashley: well -- yeah. stu varney was just saying that last week. susan: right. and do we want to picture stu in lycra? ashley: no. susan: o.k.. ashley: god bless him. they named

the nasdaq is under performing as treasure yields shoot up, 10-year yield past 330 and the nasdaq down 0.3% health care, one of the winners with names like johnson & johnson, united health and merck, leading the dow a deal cvs for signify health and traditionally a safe haven or a defensive place to go when there's worries on wall street >>> coming up mark mobius on the recent weakness here and abroad where he's finding opportunities amid the volatility and we will discuss the outlook for consumer spending and inflation with the ceo of unilever, alan jope today's market dashboard, mike santoli tracking the pullback, down 0.5% on the s&p what levels are you watching >> 3900 the one that it's been toggling above and below for a while today. also in focus on friday the s&p was down about a percent and a half in the last few hours of trading on friday, so 3900 in addition to being a round number is where the lower end of this range has been and we've only dipped below it in june and july so far it's defined the prevailing lower end of this range since about may. the other part of it is, it

the nasdaq on its longest-losing streak since 2016.w you what is moving right now and a vote of confidence target ceo committing to stay on for three more years details straight ahead >>> plus, i'm live in seattle at a starbucks reserve store for an interview with howard schultz and laxman narasimhan. it's the final hour of "squawk box," and it begins right now. >>> good morning, and welcome back to "squawk box" here on cnbc, live from the nasdaq market site in times square, also we're out in the land of starbucks in seattle, land of nirvana, land of grunge rock >> technology. >> yeah, beautiful, sort of northern california. >> technology. >> yeah, i'm joe kernen with becky quick, andrew ross sorkin is reporting live from seattle andrew, tell us more about this big interview at 8:30, and we're coasting from 8:30 to 9:00, so i hope you have a lot of questions. >> you're not quiet quitting on us, are you? >> similar similar. my own brand no, i'll be here i'll be here listening, watching, thinking >> we've got the first interview with the

the nasdaq not really taking off today.il up a little bit, $88.60, what about bitcoin, around the 20,000 mark, up $126, twenty six thousand two hundred twenty three. now this. republican senator rick scott defending republican senate candidates against what he calls treasonous party members. he says, quote, unfortunately many of the people responsible for losing the senate last cycle are trying to stop us from winning the majority this time by trash talking our republican candidates. giving anonymous quotes to help the washington post or new york times to write stories trashing republicans is the same as working with the democratic national committee. that is rick scott from florida. joining us david avella. ronald reagan famously said you shall not speak ill of another republican. is this hurting conservative candidates ahead of november to rick scott's point? >> republican voters want the focus to be on the failings of president biden and fight him, not each other as we get ready to go into the elections. all of that said

s&p and nasdaq positive as well. nasdaq obviously a point of concern of late with that big-time losing streak but, joe, i'm beginning with you, i have to have a conversation with you. you -- >> let's do it >> -- said that you were looking to buy the queues. you said this ten days ago i asked you yesterday, what's up with that? why haven't you bought them yet. and you said technically the time was not right i look at my sheet now joe buys the queues. what's up with that? >> i think there's a great lesson for the viewers i said to you yesterday that it's not about me being right, it's about me making money it's about me reacting to the market so let's go back, let's understand that, you know, for basically a three-week period from july to august i was able to take 30 handles out of the "q"s i could have come on the network and said just because i told you i was going to buy them, i'm going to buy them here i think what's important for the viewers to understand, you have to have patience and you have to have discipline

nasdaq higher by 105 this is right near session highs for the futures market this is after stocks snapped a three-week losing streak last week with all three major averages ending in positive territory. in the bond market, we are checking on yields they are moving, but slightly to the down side. 10-year treasury a hair below 3.3% the 2-year treasury 3.54%. keep an eye on that dynamic. 30-year long bond above 3.44%. watching everything now with oil prices and given the moves to the down side as of late we are bucking the trend more this morning fractional gains 69 cents higher for wti. ice brent crude is $93.71. nat gas up 1.5%. >>> in cryptocurrency, bitcoin and ethereum with support to the upside bitcoin prices up 3% 22,256 losses for ethereum. 1 1,756. ethereum prices out performing the crypto market ahead of the merge of the technical side. watch for cryptocurrency as well >>> around the world, europe is getting the trading day going on they have been open for a little bit. green on the screen. karen tso is standing by with the early trade action in europe >> dom, good morning up, up a

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dow is up 70, nasdaq is up 25. dog show guy, martha maccallum will be with us and so will i with senator joni ernst, the 10:00 hour is next. ♪ businesses have to find new ways to compete in order to thrive in an ever-changing market. the right relationship with a bank .. lay a solid foundation for the future. pnc provides the resources of one of the nation's largest banks and local leaders with a focus on customized insights to help your business achieve its goals. that's how we make a difference. ♪ another busy day? of course - you're a cio in 2022. but you're ready. because you've got the next generation in global secure networking from comcast business. with fully integrated security solutions all in one place. so you're covered. on-premise and in the cloud. you can run things the way you want - your team, ours or a mix of both. with the nation's largest ip converged network. from the most innovative company. bring on today with comcast business. powering possibilities. ♪ ♪ ♪ ♪ ♪ ♪ new projects means new project

nasdaq down 3 and a third percent, s&p down about 3% this week., the rail unions are voting on that tentative deal with management, the dow jones transportation average has been taking a hit on the worries over a potential strike. dow transports down 25% so far this year. meanwhile legislation banning members of congress from trading stocks headed to the house floor as soon as next week, cheryl casone with the details. amazing that this is just happening now, cheryl. cheryl: well, and we will see -- maria: up until now they were allowed to trade stock. cheryl: maria, to your point, we will see if this goes anywhere. that's the question. basically going to have to regulate themselveses if you think about it, right, so the proposed ban would also include spouses and dependent children of lawmakers, other changes to the stock act might include mandatory electronic filing, financial disclosures and ban on trading crypto currencies and increasing penalties for violations. right now lawmakers only have to disclose the values of their trades in broad ran

stu: the nasdaq is heading south. red ink for the nasdaq now.ened higher for the nasdaq and moved lower. a mixed opening for stocks generally. move onto apple. the they've got a big event tomorrow. the apple 14, iphone coming out tomorrow. , david, will this be a market mover, a stock mo mover for app? >> stuart, i like apple. it's a stock we own, but i get kind of annoyed when they come out with the -- the new phone, maybe the camera is a little bit better. i have the same phone i've had for a few years, it does the exact same thing. this is a challenge for app and will is it enough to get consumer excited? i don't think it is and not a big mover for the stock but the stock held up pretty well throughout all of the malaise the market saw this year. any news is good news but not the big news that will move the stock unfortunately, stuart. stu: fair point, david. this is the iphone 8 for heaven's sake and i'm still using it. it works just fine for me, thanks very much. enough of the bad news, let's talk about some of the is to bees that you picke

dow and s&p and nasdaq on losing streaks. dow down 2.4%. s&p and nasdaq off 3%. this comes offer the declines of 3% to 5% last week you are seeing a steady decline. if you go back to june, you will talk about the dow which only needed to open down 188 points to be below the june closing levels s&p still needs further to fall. it has to open down 91 points. nasdaq would have to close down more than 421 points you are sitting above the june lows nasdaq before thelosses on the future this morning, you need another decline of 4% to get there. this morning, we are looking in the red. a lot of that is doing with treasury yields. if you look at where we stand across the complex you are looking at higher yields 10-year treasury at 3.74%. 2-year treasury at 4.188%. 2-year treasury closed at the highest yield since 2007 you have to go back to 2011 for the 10 year. melissa, we were talking about this before we came out. the yield is being driven by the central bank activity from other central banks. >> it is called super thursday the moves around the world in central banks

the nasdaq up 2.25%. a look at elevated stress in the financial system could impact -- how elevated stress could impact the market and the economy check out some of today's top searched tickers ten-year yield takes the top spot as well as you can see there's buying today for a change yield goes below 3.30. a big decline continuing its decline lately $82 a barrel that's why energy stocks are underperforming. tesla, apple all strong today. what if you were a global bank who wanted to supercharge your audit system? so you tap ibm to un-silo your data. and start crunching a year's worth of transactions against thousands of compliance controls with the help of ai. now you're making smarter decisions faster. operating costs are lower. and everyone from your auditors to your bankers feels like a million bucks. let's create smarter ways of putting your data to work. ibm. let's create >>> time now for today's market dashboard. senior markets commentator mike santoli with a health check from the global financial sy

since the lows we hit back in june, the nasdaq has rallied about 20%. the last trading sessions, we've givenen up a lot of that. >> hello, see ma it almost feels like before jackson hole, the market got too optimistic about the federal reserve changingeing tack, so i feels like we're in a readjustment period, a bit more to reality it seems all too normal. i would not be worried about what's happening in the higher market the bonds are running at close to historical lows, so we're not too concerned about those developments. >> okay. delano, what is the tech trade right now? are you buying the dip in any of these tech names i was looking at nvidia down 65% from its november high. >> i'm usually someone who's optimistic in the sense of looking for a longer-term place to buy there are two options. i think, one, investors could sit and wait and be patient and make a motion one way stronger or another based on emotions right now because there are a lot of emotions. the bounce was sharp there was an emotional play from a lot of investors at the time there's al