nasdaq up close to 60. nasdaq was down yesterday.losed lower, but basically flat the dow was the winner again it notched another day of gains bringing the winning streak to nine days. joe mentioned the longest since september of 2017.

two weeks ago, nasdaq announced a special rebalance for the nasdaq 100.financial stocks. the goal? they want to reduce over concentration in the index. they feel like -- it is a small number of stock with extremely heavy weight. you better recognize these names. we are talking about them getting her the magnificent seven. apple, microsoft, amazon, nvidia and tesla. the companies are so good. the stocks have so much value. i understand the concern. 55% of the index and only seven stocks. in fact, apple and microsoft add up to a quarter of the nasdaq 100. that's not representative of the entire stock. after tomorrow's rebalance the magnificent seven should collect the accounts for more like 44% of the nasdaq 100 at least according to the chief u.s. strategist. we don't know what the new will look like but we have a general idea of what they're trying to do. these changes will take effect monday, but according to mark sebastian it will likely take place tomorrow night just after close. with only an hour or so he expects billions of dollars worth of shares in

. -- 38% in the nasdaq.he worst start of any year in 35 years. do you see utilities in general or a specific stock as a buying opportunity right now? >> so within utilities, you know, as you mentioned, their worst with start in 35 years. contrasting that with the nasdaq that had its best start in a half year ever in history, i think that there are pockets of opportunity within utilities, but i will tell you we remain underweight the space albeit there are growing opportunities particularly within the water utility space. but i would really pivot to reits. i think if you look at them relative to utilities, you've got more upside and a more of a base on the valuations there. and i think that particularly when you look at reits, you've got a lot more opportunities across industry are relative to -- lauren: john, thank you so much. you like paycom, pnc,age --age atlanta --age atlanta and jack henry. ♪ larry: hello, folks, and welcome to "kudlow, "i'm larry kudlow. so president biden out there on

nasdaq had a big gain on friday up 32.e early today ahead of the fourth of july holiday. we're shopping for some cbd gummies or something for thing to the dogs. pushed through a gate and made it to the basement because of the fireworks last night was already huddled down, pet petrified. i think maybe don't cbd gummies work i think that might work to calm down -- >> i have no idea. >> you don't have dogs >> i don't have dogs i have no experience with cbd. >> i think that cbds might work. people will probably let me know treasuries this morning, take a quick look oh hi >> oh, is that him that's zane. >> he just had him on. >> thanks. >> joe's trying to sabotage his career. >> you normally don't. you can hear that with anyone who's out there? as i say, he was waving his hand we get some other stuff happening out there that's a little -- >> may be other things. >> exactly let's get to dom chu with a look at this morning's premarket movers. >> good morning, melissa, good morning, joe i'm also happy to be with you guys on this i

we're watching the nasdaq in particular and the nasdaq has crossed unchanged line 70, 7-0 times today and down about 1.5 points or a fraction of a percent. but here's the story, at today's close, this much awaited special rebalancing of the tech heavy index will be solidified. seven nasdaq 100 stocks, you know them well: apple, microsoft, alphabet, nvidia, amazon, tesla, and meta have all according to the sec and regulators, gotten too big for their pitches meaning their weightings on the nasdaq have too much influence or sway and now must be reduced so not to have an outsized influence on the entire index. now the drivers of yesterday's 294 points or 2% loss on the nasdaq actually only included one of those seven stocks and that was would be tesla. take a look. tesla did tank 10% yesterday post-earnings, which weren't even that bad and ev leader right at the moment is up about 25 of a percent and beat record delivers and got hammered yet because ceo elon musk did hint at future price cuts and then a couple of other things about, you know, operating margins, which he's not worried abo

liz: we're neighbors and fox is a nasdaq stock. >> absolutely. you're a wonderful nasdaq stock.nto this next on 4:the amateur -- how the amateur dj will spin the narrative for wall street and by the looks of the stock, he's spinning it pretty well because goldman's turned around over the past several hours. stay tuned, we're coming right back. ♪ ♪ (i see it, i like it, i want it by shirley ellis plays) ♪ ♪ and i want it ♪ ♪ yes i do ♪ ♪ i need it ♪ ♪ to make me happy ♪ ♪ oh baby, yes i do mean you ♪ ♪ (man) what if my type 2 diabetes takes over? (woman) what if all i do isn't enough? or what if i can do diabetes differently? (avo) now you can with once-weekly mounjaro. mounjaro helps your body regulate blood sugar, and mounjaro can help decrease how much food you eat. 3 out of 4 people reached an a1c of less than 7%. plus people taking mounjaro lost up to 25 pounds. mounjaro is not for people with type 1 diabetes or children. don't take mounjaro, if you're allergic to it, you or your family have medullary thyroid cancer, or multiple endocrine neoplasia syndrome type 2. stop moun

they were up to 50% of the nasdaq 100. who is going to be gaining? guest: according to the methodology, the big stocks it's about 50 but according to the methodology, it's going to be cut to 40 but that is still big. the stocks will see to have their way cuts will be the magnificent seven. the winners broadcom, adobe, costco, pepsico. matt: always good to know those names because trackers will add those. guest: they will have to shed some of the magnificent seven. it is a summer lull but this will jump -- jolt the markets back into life. matt: thank you for that. now you know which stocks to take out or lighten their loads and which ones to add. let's get broader back to markets at large. our guest is chief investment strategist at charles schwab. great to have you on the program. you have a fantastic vantage point with so many trillions of dollars of assets over management. millions of customers trading stocks. what do you make of the run-up we have seen? guest: maybe this is good news, but i don't cents the kind of froth among our retail clients th

but tech has got a little blow yesterday and nasdaq announced the top seven stocks in the nasdaq 100e friday after the close and the adjustment will happen on monday july 24. the reason they have to do the haircut, last week the top seven stocks hit 50.97% of the nasdaq 100 index in the sec diversification rules. they have to come in compliance, what do you think about that, working to get the rebounds monday does that create a messy open on monday do you want to sell into it? >> i would not necessarily sell into it. the answer to your question about hurting season so far with the 70% plus companies beating expectations that is a little shy of a historical 80% that we are used to but there's a chance we continue to surprise earnings and i would not bet against these names. i think the smart idea to stick with quality i think companies within the names that have the ability to grow their earnings even if we do get a slowdown but i think what's going on with rebalancing is a good thing. i think the index is market cap to concentrated in the big names. investors to buy these products to

notching the strongest half of the year nasdaq gained 31%. with expectations of more fed rate hikes, and questions around when and if a much telegraphed recession will happen, are we at max capacity let's bring in alan mcknight the first question is have we seen the best it will get, alan >> we are at a point where the market is rewarding investors for what has happened. you hear the numbers coming out whether it is the tesla numbers or earnings from q1, people are feeling good the reality is it will be choppy going until the end of the year. earnings will decelerate and the economy is slowing down. it will be harder for companies to hit the top and bottom line nu numbers that investors are used to seeing. >> and i'm looking at the small cap stocks which is keeping pace what do you think happens? where does the split come with the large caps and small caps as we head into the second half >> great question. we have been watching the small caps closely they lagged most of the year they are finally starting to get a tailwind in recent weeks we t

of 200 for the dow, nasdaq 160.politics as an fbi director christopher wray testified before the house judiciary committee top of the 10:00 hour. he's going to face hostile republicans. >> they are mad and loaded with questions about the politicization and resources of the fbi so they want to know specifically why did he get the sweetheart lead you on the tax issues and gun charges? what about suppression of the story of a laptop right before the election? what about pay to play schemes with foreign business people seeking access to joe biden? rate will likely defect champion fbi's work on functional on china and stealing of trade secrets, his first appearance before this committee since republicans wouldn't control the chamber. stuart: smorgasbord. lance gooden is joining me, he'll question christopher lay later today. what you want to get out of t this? nothing ever seems to change. >> we realize we are in the house and we have a hearing today or we intend to explore wide range of overreach and politicization is t

the nasdaq 100, you have to invest in more than just these big names. the nasdaq 100 still trading double digits. don't you still see more upside there potentially? >> of course potentially, but let's realize how expensive it is relative to history if you were to look at an equal weighted nasdaq, you would see that's up about 23% for the year, still significant. far under the market weighted nasdaq we're really letting some of our winners ride we tripped microsoft we're market rate on apple we want to stay engaged while we have the positive technicals in place, we want to understand that a little bit of that is driven by the look to rates being cut in 2024 and a lot is being driven by ai enthusiasm which hasn't found its way into earnings estimates yet you're in this land of information that is incomplete when you hear everybody at the gym say you own nvidia, i can tell you that concerns me. >> you probably shouldn't take investment advice from your personal trainer jim, i know you've been waiting to jump in on this >> there's one thing i want to mentio

by the way, kelly, nasdaq isn't the only index provider with size limits. s&p sector index, they also have size limits the s&p tech index imposes limitations at about 23% of the indecision apiece, they're also starting t ining to bump agains on those indexes, as well. the consumer discretionary etf, that's also becoming a very big weight in consumer discretionary. >> aside from the aspect people always try to do here, what are the bigger picture implications? >> i think bob is right. there are further reaching implications it's due to the fact, the nasdaq 100, if you look at the futures, and there's two lenses to look through, the institutional side and the retail side. what i think is fascinating is that if you look at the concentration, we talk about this, let's talk about the top five we know amazon, google, microsoft, nvidia, as well as apple those top five stocks right now are 47%. so to bob's point, they're going to drop back down to 38.5% the far-reaching implication is that it's also representing the s&p 500. so if that stock price moves down, those

they are holding onto their gains particularly the nasdaq, up 225 points to 1.5% gain on the nasdaq. in the green, some with particularly large gains. sean duffy, steve hilton and tomi lahren, the 10:00 hour of "varney and company" is next. we never just see the numbers, we see the people. my dad started trek in a red barn in waterloo, wisconsin. and now it spans the globe. you wanna take what was given to you and you wanna build it. and you wanna pass it along. if i can do that, i would have done well. that's why we're here... to help make it happen. your wyndham is waiting. ♪ when bucket lists need checking... points need redeeming... work trips need crushing... or anniversaries need... celebrating? no matter who you are, where you're going, or why. with 24 trusted brands by wyndham to choose from... your wyndham is waiting. get the lowest price at wyndhamhotels.com hi, i'm sharon, and i lost 52 pounds on golo. i realized i needed to make a change when i looked in the mirror and did not recognize myself. i saw the golo commercial and i liked how they weren't actors. they just seeme

you can see it in the nasdaq futures. the nasdaq got smoked yesterday. they tech stocks are down. delete netflix earnings and ugly tesla earnings. i don't know if the earnings were that bad to send it lower by that much. it feels like something else was going on. you have to wonder if there is capitulation from hedge funds here because tech did that. but the dow ended higher. it was a very odd day. they were big moves with the rates. 1:30 p.m. u.k. time jobless claims hit the tape lower-than-expected and kicked off an ugly session. you can see in the ramp-up where the release was but it continues. it feeds into something that maybe the trades are getting stopped out and it could be something more like a positioning selloff. that is what andrew brenner said. that is the markets in the u.s.. let's check in and see how asian markets are faring in get over to bloomberg's tania chen. how are things looking out there? >> asia stocks today are a bit of a mixed bag as you are saying. it has been an emotional roller coaster in asia looking at hong kong shares first, and in the week on a po

nasdaq is off 15 points. the end of july and here is where the averages stand as we close out the month. s&p and nasdaq on pace for the fifth straight month of gains. up 3% and 4% respectively for the month. dow is also up by more than 3% this month just check that out. that imo

nasdaq up over .50%. dow off the highs.ing to open 60 points higher that is it for "worldwide exchange." "squawk box" is coming up next thanks for watching of the -- watching bloo ♪ 76% of 23andme health customers surveyed reported taking healthier actions. because they know health isn't just a future state. health happens now. start your dna-powered health journey today with personalized insights from 23andme. >>> good morning cooler inflation and hot markets. the future is gaining more ground today after the s&p 500 closes at its highest level since april of 2022. more data on the way >>> earnings season kicking off. pepsi will report. we will bring you the numbers straight ahead >>> disney extending ceo bob iger's contract through 2026 two years longer than planned. latest on what it means for the media giant and geezers that like to work in their mid-70s it's thursday, july 13th "squawk box" starts right now. >>> good morning welcome to "squawk box" here on cnbc live from the nasdaq market site in times square. i'm kell

nasdaq the treasury about 4% also down 1%.ning bell, stick around because it's coming up next. ♪ 's pointing to lower opening just under three minutes, let's ring in dr martin to talk about it. i read your notes religiously and some are generally not that strong the season but july could be the exception. >> we have that saying sell in may and go away and it's pretty statistically accurate. may is a horrible month, june is a horrible month august and september, all horrible month but july is the exception. one of the last potential eyes have been up in the s&p, ten out of ten in the nasdaq and we've been up 3%, 3.3% on the s&p the last ten years so it's the get ready for the summer good month. ashley: where you putting your money? do you still like big tech? >> big tech i think you have to have exposure. if you believe we are going to have continued strength into the year but i like playing catch-up with a lot of quality companies and sectors that haven't done as well in the first half of the year so looking at consumer staple

maria: pete how are you playing pete this nasdaq rebalance nasdaq beck announced other day going to do a special rebalance of the nasdaq 100 index later this month as tech stocks, concern nasdaq up 31% year-to-date look at biggest three stocks accounts for more than 30% index combine, microsoft apple nvidia on fire this year, but here is, louis navellier with me yesterday on this program talking about potential weakness next week as a result of this rebalance. watch. >> i have good in earnings four sectors, so -- but tech is -- um -- kind of got a little blow yesterday. nasdaq announced the top seven stocks and nasdaq 100 index are going to get a haircut, and that haircut announced friday after the close then actual adjustment will happen on monday, july 24th. the reason they have to do this haircut is last week those top seven stocks hit 50.9% of the nasdaq 100 index, and there is sec diversification rules they've to come in compliance. >> does that rebalance send nasa stocks lower next this week? >> i don't necessarily think so i think the reality is this happened before i don't thin

the nasdaq, that is also up nicely so about a third of 1%.ave a look at big tech presumably if a nasdaq is up 1%, big tech is doing okay. it is apple, alphabet, microsoft, amazon all up, matted down a dollar 60. staying on microsoft really looks like the deal to buy activision blizzard is going forward. it looks like it, both stocks are up. taylor joins us this morning. i guess it helped that microsoft had to deal with sony about call of duty. it stays on playstation. >> at least ten years, this is a hiccup by the ftc they did not want to make sure that there's any anticompetitive pressure. this helps the deal from playstation, there was never any doubt about this, the ceo has been confident that they will go through tomorrow which is maybe the deadline. stuart: look at the stocks go, shall be united airlines i know that they've agreed to raise pilots pay and i think it's a significant raise. >> let's get on this deal, 40% in the next four years, that comes similar, delta, american, united joining this, with the post-pandemic big trouble boom

we have options expiring but the rebalancing of the nasdaq 100.lat on the day but we could see perhaps more toward the close as people try to move the portfolio around and in line with the fact we're trying to move down the exposure to some really large mega caps that have so dominated the rally of the first half of the year as we try to perhaps take money out of the likes of meta, amazon, apple, the key names. we see more volatility in the world of commodity. wheat up by 4%. i'm trying to shine a light on a political perspective. ukraine tried to export wheat in face of russia's unwinding of the wheat and crop deal we see currently wheat on the downside with supply hopeful. the dollar with the japanese yen, many anticipating a less hawkish view by the doj. we are looking at individual movers. check out the world of advertising, this is a company, interpret republic, we have seen -- into republic, we have seen movement. 12%, biggest dropping more than the year after its numbers they cut the full organic growth forecast from 1% to 2%. meta is so de

nasdaq 100 innovations like... wearable training optimization tech. uh, how long are you...dvantage. ♪ it's raising capital to help companies change the world. ♪ opportunity is making the dream of home ownership a reality. ♪ ...and driving the world forward to a greener energy future. [applause] sometimes the only thing standing between you and opportunity is someone who can make the connection. at ice, we connect people to opportunity. i remember being on aau trips, high school games. my mom would always say, "you need to fuel the body and you need salt." i would always be the kid not cramping, ready to go. fast forward 20 years and i go from eating salt out of my palm to drinking lmnt. >>> welcome to "power lunch," everybody. alongside kelly evans if she would assume her position correctly in time, i'm tyler mathisen she's there. stocks once again higher today the dow heading for six straight days of gains, five for the s&p 500 and nasdaq perfect scenario seems to be playing out with inflation subsiding a bit, maybe enough to keep the fed on the sidelines. plus, we've got

would retbalanc the nasdaq 100 to address the overconcentration.hose will take effect before the open on july 24th. and the yields here with the 10-year treasury at 4% something we continue to watch increased cost of capital. we are seeing the 30-year treasury close to the november of 2022 level. above 4% >>> let's check on the corporate stories with silvana henao silvana. >> frank, warren buffett making another bet on energy. berkshire agreeing to pay $3.3 billion for dominion energy. the deal is still subject to federal regulatory approval and expected to close by the end of the year >>> microsoft confirming it is cutting more jobs after slashing 10,000 positions at the start of the year microsoft spokesperson would not specify to cnbc how many positions would be cut in the latest round a filing by the company said it would cut 76 positions in the home state of washington 66 are virtual positions >>> a senate homeland security committee is set to hold a hearing this morning on the planned merger with the pga and liv golf ahead of the hearing, the

nasdaq calls are strong. we're back right after this. [phone: starting route.]ology helps us navigate to work. [phone: go straight.] but, to navigate the complexities of modern work... [phone: turn left.] ...you need more than technology. you need cdw. [phone: you have arrived.] so we'll implement cloud based microsoft modern work solutions like microsoft 365, teams and azure, so your teams can collaborate with zero trust security anywhere. [phone: destination ahead.] microsoft makes modern work possible. cdw makes it powerful. new projects means new project managers. you need to hire. i need indeed. indeed you do. when you sponsor a job, you immediately get your shortlist of quality candidates, whose resumes on indeed match your job criteria. visit indeed.com/hire and get started today. - i got the cabin for three days. it's gonna be sweet! whose resumes on indeed match your job criteria. what? i'm 12 hours short. - have a fun weekend. - ♪ unnecessary action hero! unnecessary. ♪ - was that necessary? - no. neither is a blown weekend. with paycom, employees do t

down by 47 nasdaq down by 20 in half. we are standing by for the fed minutes for the june meeting as jay powell says to more rate hikes and grow not off the table. also jobs data june adp in the jeweled trooper coming out tomorrow all hands on deck for the june jobs report coming out at 830 eastern time on friday. european markets as you can see are in the red, 100, the cat 40 in the dacs are all negative and in asia across-the-board, the worst performer down better than what it half percent, treasury secretary janet yellen leaving for beijing tomorrow in an attempt to quell economic tensions between the two countries. we are going to preview that. a massive win for free speech as a federal judge blocked the biden administration from contacting social media sites as a court rules a white house may have violated the first amendment while police insights during the pandemic. joining the conversation bull's-eye american ingenuity fund manager adam johnson and heritage foundation tech policy director cara frederick. "mornings

dow down 42, nasdaq -- dow up 142, nasdaq slightly lower.new ones. 30 years ago, state street created an etf that inspired the world to invest differently. it still does. what can you do with spy? ♪ ♪ this is american infrastructure. megawatts of power, rails and open road, and essential services of every kind. all running on countless invisible networks, making it a prime target for cyberattacks. but the same ai-powered security that protects all of google also defends the systems running america's infrastructure. for these services. for the 336 million of us living here. ♪ if you have this... and you get this... you could end up with this... unexpected out-of-pocket costs. which for those on medicare, or soon to be, is a good reason to take charge of your health care. so consider this. an aarp medicare supplement insurance plan from unitedhealthcare. why? because medicare alone doesn't pay for everything. and what it doesn't pay for, like deductibles and copays, could really add up. even thousands of dollars a year. medicare supplement pla

dow's up 90, nasdaq's up 107. of course, we were way down yesterday, especially the nasdaq.e bit of a bounce today. seven executives from big tech companies will meet with the president today. they are going to discuss artificial intelligence. jackie deangelis joins us. in fact, she's going to stay for the entire hour. >> glad to be here. well, this is a really interesting story. you've got kamala harris talking about a.i., right? and when she was talking about it, she made this whole sort of, it was a word salad where she said a.i., it's two words -- stuart: i do remember. >> and so you're just with sitting there and and saying, what has this woman done? she's taken on abortion as her champion issue, but she's certainly not making progress on anything else. she is not going to be a part of this. right now when it comes to the biden administration thinking about reelection, one of the things they have to think about is how she is perceived about the american public. it would be better to keep her on the sidelines for now. stuart: i'm told there is something about taking a ro

nasdaq 140.rouble in big test of trouble forests netflix and tesla, they reported yesterday both are down this morning. can you start with netflix? >> is there trouble with netflix so? they increased scrubbers by 8% or 6 million things to the early stages of crackdown on password sharing an addict here. they increased free cash and international content. that helps them get through the hollywood strike. they raised price target to 525. stock is done, i think you have wall street responding to revenue of 8.19 million for the quarter. i am dismissing it, i thought it was a good report card. stuart: tesla. >> elon musk says he's okay with sacrificing margins meaning we can see more price cuts and production this quarter will be done modestly because of plan to upgrade, retooling plant. sensational, revenue of 24%. cyber truck demand, i will quote elon musk from the call. off the hook that you can't even see the hook and has newtek in it so he's very bullish. full self driving, $15000. they will lice

nasdaq for over eight weeks.with the fact we've seen sentiment really improve, this week american association of individual investors hit a 52-week high it's still under 50%, but hit a 52-week high this is a little bit of keeping investors honest here. when you take a step back and as we talked last week, you don't get these extended streaks of overbought conditions during bear markets they tend to occur during bull markets. right now we're less than 2% from the high in the s&p 500 and the nasdaq it's definitely a weak day today. up followed by weakness yesterday. but overall, i mean, i think it's -- you do see pullbacks even during bull markets >> does the yield curve or does the ten-year yield specifically, does that make this look like maybe it's not just a pullback that maybe going above 4%, maybe the two-year yield going to levels not seen since '07, maybe those things are weighing on stocks and will make it more than just a pullback short term? >> well, i think in the short term there's a little bit of shoc

s&p slightly down in the nasdaq slightly higher. biden is promising to find a way to forgive student loans after the supreme court blocked his original plan for a bailout, grady trimble at the white house. what is plan b for the president. >> the white house says interest will accrue on student loans again and in a couple of month september 1 then borrowers will have to make payments once again in october. if they miss a payment or multiple payments in the first year the white house says the credit won't take a hit. some progressives argue the president needs to do more to ease the burden on borrowers. >> i do hope the white house will make sure that the interest does not accrue starting in september. another president says to the credit agency in the higher education act you can stop interest accrual. >> the question is when would interest her accruing then. republicans on the other hand are praising the supreme court's decision, they say president biden student debt forgiveness plan was number one unfair endeavor to cause inflatio

the nasdaq is up 30% year-to-date. yesterday we talked about this and louie navalier said this will create selling for tech stocks on friday. the three biggest names that account for 30% of the index combined include microsoft, apple and nvidia. those stocks have been skyrocketing year-to-date. joining me is payne capital management president, ryan payne, also with us, adam johnson all morning. great to see you. thank you for joining the conversation. kicking things off with you. what about the nasdaq rebalancing happening? >> it's the third time in history it's ever been done. it's remarkable, five stocks make up 43% of the index, 10 stocks, 60% of the index. the last time it happened was 1998 which wasn't far from when the tech bubble burst. the s&p 500 has the same problem. you have eight stocks that make up 30% of the index, i've been calling it the s&p mea cap 7. it's not broad exposure anymore. i'm going to talk about that on the podcast this week. maria: are you expecting a big selloff now that the rebalance is

now you'll have a rebalance of the nasdaq, as well. so that's playing a role today, too, that we'll get into more specifically later on, but what about tech after the gains that we've seen >> listen, i think you're left with one of two different -- one of two arguments the first is some of the big names have had an enormous rally largely based on in some cases reality, and the hope for future investment within the ai smear so to speak at the same time, it appears to me that there are a lot of names in the space that are likely to benefit from a meaningful and sustained regime change in how companies allocate capital and whether it's cloud and et cetera, et cetera and it shouldn't look at some of those names that are likely to benefit over three to five or seven-year time horizon that we look at other names in the market and it's easy for a lot of people and they do it to dismiss some of the valuations in the space when it reality this tailwind is likely to persist for, i don't know, five to ten years, and so there's a lot to like in th

dow down 10 nasdaq up 60 look at numbers on the weak dow industrials up -- for the week, nasdaq is down a third of one percent, s&p 500 higher by two-thirds of 1%, this week, coming to an end on wall street yiern markets like this check eurozone ft 100 in london currently showing a gain 13 points cac quarante in paris up 10 dax in germany lower by 93, in asia overnight mixed market moving fractionally pretty much across the board, biggest he mover hong kong up 3/4 of a percent in washington explosive revelations after senator grassley released unclassified documents fbi tried so hard to keep a lid on, detail squarely putting target on president biden's back alleged coercion of burisma executive for millions of dollars for him and his family, "mornings with maria" is live right now. . and house republicans are accusing homeland security secretary alejandro mayorkas of intentional disrespectfuled der libraries of duty writing may rejected his responsibility to enforce the law passed by congress, and has refused to respect rulings by the federal judiciary joining me kansas senator roger ma

dow up 100, nasdaq may be up 20.ning bell is next. ♪ left-hand side of the screen, still looking down. dow 120. david nicholas with me this morning. you know i read your stuff, your saying one more rate hike, 25 basis points and done. that's a bullish outlook, isn't it? >> it is. we could see the lowest cpi inflation in two years, down from 9% the could be little over 3%. why? used car prices are coming down, energy coming on, goods prices are coming down. here's where we will see inflation, the housing and shelter costs and service inflation because service inflation is tied to wages. wages paid stubbornly high so i'm looking for improvement and i think we will see some but i think the market this week will be the worst behind us, i think bears are wrong, i think we get a bullish run up this week and as everything to do with the report, we will get wednesday. >> next case, was the biggest risk to the market right now? >> i've been pretty clear, it's geopolitical. we are in the middle of a war in ukraine. america is

the nasdaq, i'm waiting for this one.ally. 14,3 is your level. this is what i want to to look at, big tech. meta is now up $5. amazon or nearly 3. alphabet, nearly 2. apple is at $196, and microsoft, the laggard amongst the big tech this morning, 340 #. microsoft faces a fresh challenge from the european union. yeah, it's not going up like the rest of big tech. what's the challenge? lauren: yeah. the e.u. opened an antitrust investigation into their bundling of their teams app for video conferencing into their office software. so essentially, that doesn't give customers a choice. you kind of have to get it, it's built in. and it infers that microsoft is giving their product a competitive advantage and not giving consumers a choice. i know with their acquisition of activision blizzard they've been in the crosshairs, but it's the newer tech companies like meta and amazon gets all the attention where microsoft got it back in the '# 90s. stuart: all they want is our money. why don't they just go out and do it themselves? of c

and netflix all three indices marching higher the dow and s&p and nasdaq are all trading at highest levels since april of last year the bond market with the yields. we start with the 10-year treasury 3.78 10-basis point range with the softer cpi report. a similar story with the long end of the curve with the 30-year. range bound. the movement in the 2-year treasury since the cpi report, it has risen 20 basis points. we are looking at energy oil to look to keep the three-week win streak alive. wti up at $75.40 a barrel. brent crude up .50%. $79.79 natural gas up 2%. the commodities this morning with wheat prices. wheat prices up this morning after the russian strike on the ukrainian grain port after the exit of the deal to allow the grains export of we will have more coming up in the show. >>> we have a busy morning for earnings and stock reaction. u.s. shares of taiwan semiconductor hit hard on the back of the second quarter results as they see profits plunge shares of taiwan semi are down 2% arabile gumede is live with us in the london newsroom with more on the result. arabile, goo

we're live at the nasdaq marketplace. we start off with a rally in walt to end the week the dow up 14 of the last 15 trading days the s&p 500 at the highest close since april of last year the nasdaq seeing the best session in more than two months. the gains coming after softer than expected inflation numbers this morning indices higher for the week with the nasdaq leading the gains up 2% since monday. all this ahead of the busiest week of the earnings season. 158 companies set to release results next week with apple and amazon the major headliners. both stocks strongly into the reports. apple, in fact, posting the highest close on record today. it has added a trillion dollars in market cap just this year will next week's results keep this broader rally going this is not the best setup we had. we have had good results so far. >> yeah. and i would think that when you look at the overall market and the way it's performs, people have bet against this market aggressively i know we -- i feel like we always say it or the media a

nice gain for the nasdaq up 84 points, s&p up 6 and the dow a 5 point los. loss.he action this morning mostly in big tech and the nasdaq. show me big tech on the upside. meta, microsoft, up 2.5 to $2.51, apple at 193, alphabet up a little bit too. amazon close to one hundred 30 a share. the 10 year treasury yield is coming up a bit, 3.90% and the price of oil moving up again, $66 a barrel, down a bit at the moment, the level $lxxviii a barrel. the latest read on consumer confidence. >> 117 in the month of july. the present situation index, how we feel about current job market, that improved also by 5 points, expectations index short-term outlook for income includes 88. 3. i bring that up because it is about 80. we have 180 since february 2022 and now above it. ashley: it -- stuart: no response on the market. the nasdaq is up 90. everyone is concentrated on big tech. that's a strong report. now this. there are two main challenges to biden's ability to do the job another 6 years, his age and the hunter scandal, they are closing in on him leaving his campaign maroon

the s&p and nasdaq up in pre-market excuse me. reversal from a minute ago the nasdaq is the best in the pre-market dow down 62. s&p down fractionally. we have seen a lot of movement in the bond market with the cooler cpi read. 10-year treasury at 3.79%. 2-year treasury at 4.73% in energy, oil under pressure in the early going so far this morning. wti and brent crude down 1%. wti is a tick above $74. brent crude at 78$78.50 upside with natural gas up 1%. the oil weakness is tied to data from china overnight beijing said the second largest economy slowed in the second quarter to 0.1% compared to 0.2% from january to march. the bureau of stats shows the unemployment is 21.3%. hong kong is closed for a holiday. the rest of asia is red across the board. shanghai is down 1%. >>> time for the check of the corporate stories with pippa stevens. >> good morning, frank the executives of intel and qualcomm are visiting washington to discuss the u.s. and china policy according to reports, the ceos plan to hold meetings with the u.s. officials

nasdaq up close to 60. nasdaq was down yesterday. the s&p closed lower, but basically flat the dow was the winner again it notched another day of gains bringing the winning streak to nine days. joe mentioned the longest since september of 2017. up 14 points, but these are slow and steady gains continuing to climb. if you look at what is happening with treasury yields 10-year treasury at 3.8. 2-year treasury is slightly higher at 4.8. >>> let's talk about the s.e.c halting the trial to block microsoft and activision merger. it is suspending the $69 billion deal which was scheduled to go on trial on august 2nd earlier this week, microsoft and activision announced an extension of the merger agreement to go to october 18th to allow more time for north carolina with the uk regulators -- time for uk regulators for more time for the deal good news or expected news for microsoft and activision >>> the shares of csx falling following the mixed second quarter earnings and they were in line, but revenue missed. the ceo said it is challenging an

but the nasdaq 100 can't break out to the upside.that the true floor might be down roughly 1500 to 2,000 points. that could be just horrible. now how about the s&p 500. given all thand wringing, this s something that wasn't a problem today. take a look at the weekly chart of the s&p 500 this is presented as an equal weight index this is like the regular s&p 500 except very -- every component is weighed the same. means the mega cap companies have a lot less impact shows you the true breadth of the market when you look at the s&p 500 equal weight index this is a lot broader than it is givencredit like the nasdaq 100, she thinks this is at an inflection point this turned out to be very positive when it broke through the levels last earnings season. they were basically heading side ways here. the s&p 500 equal weight making lower lows, something that still, she says, a bullish setup. the s&p 500 has a floor support of 3,312 okay that is down more than 200 points from here that is the 61.8% retracement key number of last year's deand also

stuart: the dow is up 180, nasdaq up 57. modest rally in place.meghan markel, $100 million netflix deal is having trouble because of the hollywood writers strike. neil sean with me now. the deal is in trouble, what does that mean? >> good afternoon. some say this is a blessing. the story goes that harry and meghan had to shut down production. this is a great pr statement. they don't have anything in production, they are talking about doing something with prince harry which is as dollars it could be. even with the inclusion of david and elton john. then but snubbed recently by the emmys. when you come out and support the hollywood strike that may win them back with favorable funds in the industry. this dichotomy going on, it doesn't in many people's mind make sense because if you have the biggest downloaded streaming thing in the history in that company and you've got nothing, that says quite a bit. there's plenty of space yet. stuart: i've not seen much of them, not bursting into the headlines. are they still together? >> they need to be. over the

you think the nasdaq is a benchmark that can be used for diversification? -- do you think that the nasdaq is a benchmark that can be is for diversification? >> i do not think it is the epitome of diversification because of how top-heavy it becomes at certain times, that is a weighted index. the day of rebalancing is not having too much of up to effect, much of that car baked in when the announcement was made. you can extrapolate what is going to happen, over time, as things change and prices move, that is always going to be the case with the market cap weighted index which is why sometimes it becomes more of a risk not to own some of those names because you are under to what is driving bond markets and driving investor sentiment. caroline: future funds have been under pressure according to goldman sachs. what about protection? if you are worried we have gone too far, too fast, is it invitation to -- is it advantageous to protect the downside? >> i was skeptical of the rally all the way up and i have felt very wrong all the way up. that being said, it is alw

we're live at the nasdaq market square i'm andrew ross sorkin along with joe ker

nasdaq up 33.r of the morning, david, microsoft and off of it kick off after the bill today. in your opinion, which of those two companies is best positioned with a i? >> in particular i believe microsoft has to be one of the best positioned companies today as they made the early $30 billion investment in the chat gbg which is the fastest act to reach 100 million participants, and two months. it to facebook for years to do that so who's going to be on top? i think google is positioned well but a lot to lose in comparison to microsoft us microsoft is integrating chat gbg and a subscription -based model as opposed to google which is more on driven so subscription -based will ultimately win long run because it's got people going in here but microsoft integrated ai into the search engine so google has dominated, if we can get thing to give streamlined answers, i think you'll find google has a lot to earn. when you talk about ai, privacy is important and a big consideration when you give away informatio

that's something we'll talk more about, the s&p and nasdaq hitting 52-week highs. the russell down 1%. let's begin with a trio of top and bottom line beats for big banks. shares opening higher before losing steam and shifting back and forth. citigroup down 2.5%. jpmorgan, what have we learned today? beats, if you count their acquisition, so a pretty strong quarter for jpmorgan >> best in breed is exactly that rewarded for staying high up in quality. that's the right approach looking at the banks and financial institution that is will had be reporting. the reaction today is very interesting. clearly citi is not being rewarded for what we heard from them i think there was a lot of concern with the consumer at citi, large card balances being carried, much higher rates, somewhat of a little bit of a challenging environment. trading revenue down 13% two things from wells. the reaction so-so, muted. you have to have concern about them citing office real estate being week and then charlie scharf talking about the tightening even further. not unexpected what we got in term

if you compare arp k to the nasdaq 100 you will see nasdaq is getting close to all-time highs. ar kk which is full of innovation is much closer to its lows. i think we are beginning to see investors shift from the nasdaq 100 or nasdaq and take losses and into our innovation fund because i think the values, when it comes to innovation are in our fund. >> where is that value? let's look at that chart on a longer-term basis. since the inception in 2014 disruptive business models. you take a longer-term view. over that time, arkk has underperformed not just the nasdaq but the s&p 500. how can investors view your proposition to them? >> i think they should put into context what has happened in the last two years. interest rates, the fed jacked interest rates up 21 fold. and a long duration assets, all long-duration assets were slaughtered last year. the bond market, that is long- duration as well but it is usually a flight to safety vehicle. the bond market last year had its worst year since sometime in the 1700s. if that was going to happen to bonds just because they were long-dura

one weird thing to mention on nasdaq, for the nasdaq 100 they will be taking activision out on the 17th. one day before that deal is supposed to closed by the fact the ftc is still appealing the microsoft acquisition of activision, and the u.k. cma has yet to reverse their decision to block it. let's now check in on asian markets and get to charlotte yang, the rally is continuing in asia after cpi numbers. >> yes, we're looking at a pretty upbeat session in asia this morning where investors are risk on after u.s. softer inflation. equities are following gains in the u.s. australia is up, also korea, in japan the nikkei is up 1% and sony is getting moves after goldman upgraded the stock to buy after getting bullish on its animation software business. hong kong is providing key support to the region, hsi tech up 2%. it is up for the fourth session this week. it is set to post the best week this year. the chinese premier met with senior executives from the largest companies wednesday in votes of support of platform companies. remember last week, china announced big fines on and group which

on a weekly basis the nasdaq 100 is only barely in negative territory. we have one more day to go but we are only down .6% on the week, even though we saw this big drop in technology stocks. the dow still in positive territory today. shery: could there be more volatility with the nasdaq rebalance? emily: we have a rebalance coming. it is going into effect monday and it is not a regular orderly rebalance for the nasdaq, but a special one, because the index cannot have over 40% or the top five names make over 40% of the index. we have seen the make a cap technology stocks -- the mega cap technology stocks like apple and microsoft run-up so much. there is so much concentration we have to have this index rebalance. for tomorrow we could see more volatility because funds that track the nasdaq 100 will have to be moving in and out of positions to match what the benchmark will look like on monday when the changes go into effect. we also have about $2.4 trillion of options expiring, or set to expire on friday. add that to the rebalancing, it is like like to be a

the nasdaq up over 1% in the premarket. half a percent and dow on a near historic win streak up fra fractionally we'll continue to watch it much more "worldwide exchange" coming up after this break ♪ to help you see untapped possibilities and relentlessly work with you to make them real. ♪ >>> all right, time for your big money movers imax beat estimatesing with help from super mario brothers and now "oppenheimer" and "barbie. the results come as moviegoers show a preference for seeing movies in premium theaters shares of imax up over 5.5%. >>> ebay, despite beats on earnings and revenue for its most recent quarter, higher investment in auto parts and collectibles adding to its dimmer outlook shares down almost 5% in the premarket. >>> volkswagen shares driving lower after they reported higher revenue but reaffirming its 2023 outlook and lowering its full year deliveries as it's hedging effects and pressure from china weighing on the stock, down almost 3%. >>> we'll stick with earnings. mksd's moving higher as they prepare

it's obviously not driven by those big nasdaq stocks.d also an international component of this index as well because of all the non-index listings another bullish impulse to say this is not just an extremely narrow rally on the other hand, take a look at apple and microsoft compared to just an equal weighted version of the technology sector this is over two years i point this out just to highlight how microsoft and apple have been virtually the same stock in terms of the pattern. obviously there's a little bit of differences in terms of performance. but just the shape of it shows you something different is going on with the two very largest stocks in the index. people are buying them not just because of particular things going on in their business, even though we love a.i. and apple is the highest quality balance sheet in the world and all the rest of it but it just shows you there's a mechanical preference, at least up until now for the very largest stocks, active mutual fund managers literally can't own a full weighting of these stocks