p. low states sweeping majority in the 6 week elections and have to enter into coalition towards armando, the indian government has failed to give visas to alger. there is correspondence to cover the story. so we're reporting on the selection from outside the country. here as we may call some sharif, the political parties in the huddle of the elections in india delivered shocks, results the 6 week non polls give the governing b j b a. when, but not to pay a majority. it now less to rely on allies to form a government. india is low, has a parliament has $543.00 seats. a potty or coalition needs to secure 272 seats to form a government. the b j. b 1240 seats, not enough for the majority, but with the help of its allies. it's secure. 293 seats. the opposition congress has nearly doubled a chair from previous elections with $99.00 seats and the room with its allies. it's 1232 seats. the database quest for hedge a monic dominance has been hosted somewhat and more importantly that this whole thing

p. a low received last codes that in the previous election in 2019 you created this over 1500 trips in just one day. has russia advance is on the battlefield? with fighting and dropping off the tunnel bowl? chance? r t brings you exclusive footage from the heart of the buffalo. the sniper's job is to cover and pay the way for us to pease to, to moving building to building one.

kind of thinking well, later this month, switzerland, they said to play her history. ukraine, p. summit, low russia would be the china is also turned down. it seemed potations that in the meeting would full show to make space stations to results the will. something's, let them use the landscape piece to taken as a snob of yes ma'am. we're not positive about china signal that they will not support and participate in the piece summit. it is strange and very painful for us that russia, unfortunately, using chinese influence in this region using chinese diplomats, is doing everything to disrupt the piece summit. unfortunately, such a large, independent and powerful country as china, is a tool and put in his hands. now too long from the shanghai center for women pack and international studies, as the landscape direct direct towards china, is way out of line. i think it is a lensky is both desperate, directly solar. it's the same. and as i'm losing his senses, actually when he made such remarks, because china is a neutral party and as always, being old, one for remoting, a piece pulse, and has spe

given our a low p debate could lead to a policy a very dangerous policy.ountries. has conseq. we read the the prognosis is growth is going to be slow. very slow as that's our time to implement this in the■a■+ long-range mindset, it cannot be changed quickly enough for t should be? >> it takes time. good competition law. it's not going to work well initially. to make mistakes. cases are going to balance with cio take time. but little by little you are bus within the government to do competition and as andrea was saying the changes inuch thf behavior is not business as usual but no longer such that political partiesne reflect int platform this process has been extremely difficult something very ss goi. i sort of competition commissio. in the previous administration wa■(s ast reform to st policy continuity. duringhis administration the president put forth a constitutional reform to close down the competition commission. so if you are trying to tell society this is an essential thy shou function and we want to be competitive we need more competition incomes th

he of the s&p 500 near session lows but still hanging on or trying to hang on. slowly slipping into red for a while. after hitting 5500 earlier in the day. nasdaq 100, even lower. you are seeing the losses accelerate in the tech heavy index. had we held on, it would've been the longest streak since november. now you're saying it lower on the index. the bond market losing steam as well. 470 on the two-year come about one or two basis points higher on the day. the tenure also at four point 26, about five basis points higher on the day. you bond investors oh so close to erasing their losses for the year. had we held on, we would have flipped into the green but we are looking at a down day. let's get into the details of the equity market with abigail doolittle. >> i think everybody really has their eyes on this epic rally we have had. out of the pandemic lows over the last five years you have the major indexes in a massive way. triple digits for the chip index, up about 300%. over the last year, the s&p 500, nasdaq, all up about 25% or more. there is an interesting

p and nasdaq back at all-time highs. futures are a mixed picture. you see the dow to open 40 points lower. hitting the lowsf the morning. the s&p is flat. the nasdaq off the highs of earlier today, but solidly in the green. >>> investors are feeling bullish following the weaker than expected adp private payroll report and what it could mean for the jobs report tomorrow and the fed rate decision next week. the biggest rally driver that has to be nvidia. it sis higher this morning and closing with the market cap above $3 trillion. you see it is up 1.25% in the pre-market. nvidia surpassing apple as pres the second largest u.s. publicly traded company. keep in mind, it took nvidia three months to leap from $2 trillion to $3 trillion. shares are up 20% since the blockbuster earnings report last month. we are working to get the data on black leather jackets from jensen huang. you can see shares are up 4.5% for taiwan semiconductor. the philadelphia semiconductor index coming off the best day in months. you see other chip stocks making moving. micron and amd higher in the pre-market. you see the moves here. asml

to that point, off the covid lows, it outperformed the s&p by 25%. this is the ratio chart. this is essentially xly relative to spy. and you can see, we're making new lows. and you have to look under the hood in most etfs, if you look under this hood, the biggest is amazon, the second-biggest is tesla. if this was tesla knocking it down, okay, but then you get into home depot. then you get into nike, tjx, starbucks, we've heard from every one of these players, and i just think it's, you know, again, what's the most important chart for the market? it's certainly for a time and place, but as we think about what's been so strong, it's been the consumer, i'm worried about discretionary spend, and we heard it from a lot of different types of discretionary spend this earnings season. >> and from a gdp perspective, the consumer is the most important part of that measure. >> amazon, 24%, tesla, 13%, mcdonald's, cmg, only 4%, but that's obviously done really well. and i'm with tim on this one. it's telling a story without question. you throw lowe's, i mean, there's a lot to be concern

sonali p.: defaults have been relatively low and even if they pick up off the low level we think in linea long-term default rate both in the high-yield market and in the bank loan market. a lot of this has to do with many issuers have pushed out their maturity wall. there is not a maturity wall looming. they've refinanced when rates were low in the back half of 2020 and 2021 so there is not this trigger for a high level of defaults. furthermore, with covenants having been so loose over the last decade and a half, we are seeing issuers coming what it difficult to issue an unsecured piece of paper they are coming with a secured bond or embarking on liability management exercises, distressed exchanges, to avoid actual bankruptcy. sonali: if you can take a look at how much money has poured in, do you think people have got in a little above their skis or do you think they are safe that they think the economy will not turn so quickly? michael: it is a little bit of both. i agree very much. it is not necessarily a fundamentals story. is there an imminent catalyst to spread widening and price lo

get a check on these markets because we are watching the s&p 500 start the day in the green and now slip into the red. we are near session lows in the s&p 500 is down about 0.3% and the nasdaq 100 is still trying to hold onto gains but essentially flat on the day and ai is waiting on the love and the philadelphia semiconductor index has a strong bid of 0.6% and broad cam dachshund broadcom is out with its forecast and driving that index higher. you have other parts of the market that are pulling on it and crude oil is taking a breather after russia agreed to dial back output and inflation data led the way when it came to the story in terms of what is possible for the engine of this economy. let's look at the 10 year over five days. there was inflation data yesterday but producer dated today as well as jobless claims show the bond market cooling and we are back where we started about five days ago, you are seeing a stunning move over that five days with the 10 year yield hitting almost 450 once again. it's back down to about 4.24. you're looking another four bases move today after the producer price index data but the jump you

into ot. >>> well, big selling for big tech, the nasdaq finishing at session lows down about a percent, the s&pion lows as well. but the dow eking out gains. we saw a pull back for nvidia, that's the score card on wall street welcome to "closing bell: overtime" i'm morgan brennan with jon fortt. >> the ceo of arm holdings as the company wraps up the first

m a p's, but it's always low as to who to talking any, any sense of oh and i do for i shouldn't, did for a while. and i and i drove arrives the, the that's right. but that, and, but they're mostly what, what do the others do? what, what exactly is their role and, but apparently, then, you know, the big issue now is, well, are they going to give the, or zillow vendor lion a 2nd time, you know, there are in the, nobody really knows this. i'm also so full straight to well georgia maloney support from the lying and that they have these very good relationship. is it because she's been such a good job? well, that's the point, i mean, but that's really the issue. what is the phone number line? i mean, she's in the middle of her own scandal about why did they want to, i think of something like 4 and a half 1000000 doses of the fi as a vaccine. you know, given the, the, the population of, i think, you know, i think 4 and a half 1000000000, i think, you know, potentially afford how billy is our. and so in other ways, because of population of the use of the 450000000. so that comes through 10 d

. >> mike, just to follow up on that, the equal right s&p, for instance, had a low rsi, while the regular was breaking out, seeing that rsi above 70. how do you digest that information? does that tell you there's a breakdown in nvidia going on here? >> it's not so much a breakdown, just basically a very neutral and sort of stagnant picture outside the hottest names in ai and those other momentum stocks. so what i would see is, i think on a macro basis, the message isn't necessarily negative, but it's very watchful. so the parts of the market that really need a soft landing and perhaps a fed to start becoming a little easier are sort of wait and see mode right now. there's also a big, active trade on right now, betting on the persisting divergence here. so getting that the index stays calm while below the surface, you are sort of taking advantage of the fact that thismassive divergence amongst stocks. >>> nvidia has nearly tripled this year, making it the world's largest short in dollar terms according to s-3 partners. there are 290 million shares worth 1.23% of the float. the shorts have

p 500. that's low volatility. this summer will give you the opportunity if you feel you've missed it, did i miss it, did i miss it? there might be that opportunity. think about where you want to be in equities in an environment where you're seeing decelerating inflation but still reasonable growth and the fact that earnings are continuing to grow if you look at the s&p 500. you want to make sure that wherever you think you want to end up at the end of the year, you focus on that and worry less on this path and what happens on a day-to-day basis because it could be a little bumpy as we wait for more micro data. >> josh makes the point that -- >> josh lost me beyond the shoes. i have not been able to think clearly since then. >> he puts forth that the fed is going to cut one way or the other for either the right or the wrong reasons, you know, their hands may be forced to cut if you start to have the unemployment rate go up, a much softer economy and they will preemptively cut before it gets really messy, or they're

so it's kind of par for the course to see vix at lows, s&p at highs, and even going into what shouldection season, it's pretty consistent with historical norms. >> and i keep pointing out, too, when it comes to the vix, the fact that you have a lot of divergences within the market, parts of the index going down, others going up, the index volatility has been really calm. >> it has been relatively calm. it's the rest of the market that's not orderly at all, small caps, mid-caps, unprofitable companies, higher beta stocks, completely different altogether. >> when you say, kind of take what the market is giving you, semiconductors remain at the focal point. it's hard to deny their leadership. on the other hand, is it getting extended? as the risk/reward -- basically, has it been too good for too long? >> on a shorter term behavior, the risk/reward is not favorable. it's one-to-one. longer term, i brought a chart that goes back to 1969 and shows that it broke out of a 20-year base in 2020. and there's still upside to be had. from a very simple chart reading, the count is still another 80

of this morning and a trend seeing the dow going low lower and s&pand talk about that later in the show. investors riding the recent waive of optimism following this week's batch of producer prices seeing their biggest drop since last october. core cpi smallest increase since 2021. bad news is good news with the labor mark and initial claims highest since august. look. the benchmark 4.21. earlier this week at 4.45. more than 20 bases point drop when it comes to the benchmark. now a big money mover today. shares of adobe are soaring. boom and demand for artificial intelligence driving new customers to the company. adobe raising its rvevenue guidance for the year. the ceo says the company's approach to a.i. and product delivery is creating more value for users. you raised your price target by about 20 bucks and you're still below the street average. what did you see? how come you're less excited about this than your peers? >> frank, it's proof adobe's report is about expectation. adobe is coming off a couple of tough quarters. stock had been down 23% y

p member. the short interest was down to 2001 lows. we certainly the number of hedge funds.own to 14 constituents according to one of the indices. we went to the big names. we went to jim chanos. he said it is hard to raise capital. you can imagine if he is struggling to find money in shortselling. a lot more players probably find it more difficult to went to andrew left. he called them a dying breed. that reflects a lot of the industry. there are closures. there moves to loan only funds. that focused shortselling funds is disappearing very fast. sonali: throwing in the towel but not completely even though andrew left said it is a dying breed of shortselling. he was also the person who bet against gamestop as it was soaring just a day ago as he told you guys. to what extent are people starting to step back from this industry even there are opportunities? >> we have to acknowledge there are a lot of young people coming into it. they releasing a lot of reports that have a strong impact on the stocks. the amount of money you get into those funds as smaller. talking about andrew

this is how it looks on the chart, but due to the s&p, it is like all-time low. ere maybe. or would you go with the s&p 600? >> i think in general, look, lower interest rates should help these small cap companies. charles: bottom line? >> the balance sheets depend on interest rates remaining low. by fircation with the fed. it is not a clear picture. if many of the members studied the data today or this week they would have changed the projections for the dot plot which i think eventually will happen. but for the time-being the economy is showing ever so slight signs waning on the fringes but the broader economy is still okay for the time-being. that is actually a goldilocks scenario for the markets. particularly as technology pulls back that is you will tooing everything. doesn't matter that technology is dominating the indices. as long as tech is still going up. i sense likely that is the case this year. charles: i have 30 seconds. i will jump in. you talk glowingly of oracle. >> right. charles: oracle had a big gap, strong gap, pullback, filled the gap. it had a

p. major markets closed near the lows of the session today, though, even after both the s&p and nasdaq hitew intraday records in early trade. nasdaq crossed the 18,000 mark for the first time ever. investors digesting this morning's economic data. core pce, the prime among them, increasing a 0.1% for the month and up just 2.6% from a year ago. that is the lowest annual rate in more than three years. i think the pce is the one that the fed likes to follow. consumer sentiment also coming in a little better than expected. what's in store for stocks in the second half? folks, any thoughts here? >> yeah, i think the pce numbers are really important here. that's what the markets have been doing, is holding their breath with what's going to happen with inflation. you're now seeing a 95% chance the fed is going to lower interest rates at least one time this year. the question is when that'll happen. is it going to be september? is that going to be later? but with numbers like we had out today, being they're data dependent, it is more and more likely that will happen at some point in time. i think

. >>> s&p and nasdaq is on lows. joining me now is jenny harrington at gilman asset management.ning, frank. >> we were talking about the volatility yesterday. nvidia pulled the markets down. today is triple witching. a third of the options come up for expiration as well. what do you think? does it maybe you concerned or see an opportunity? >> neither. i just think we're at a point of inflection and that's my word of the day. inflection. that's where we are. when we are thinking about that, i don't know the inflection means we're going down which means we create opportunity. we are starting to plateau from here. we're on the 15%. if we did this expectation, if we continued this pace, the market would be at 6,250 by the end of the year. that doesn't seem reasonable. i think we're at this inflection point where leadership is inn flekt inflecting. >> your wex word of the day is inflection. we are at an inflexion point when it comes to the election. we were talking about the biden campaign raising money. ned was out with research and saying the meaning theful gain for the s&p is 5%.

bloomberg markets "bloomberg markets this is -- this is "bloomberg markets," hitting the lows of the session today. the s&p 500 is down 2/10 of 1% on the day. the nasdaq 100 folly merely in synchrony, down 1/10 of 1% on the day. the two-year yield is roughly flat. big jobs day data tomorrow. 10-year yield is below the 430 level, firmly so, down at 428. mid-day movers, lift is expecting gross bookings to grow 15% at any annual compacted rate. they put out a statement anticipating full-year cash flow conversion of 90% annually between 2025 and 2027. as the magnificent seven continue to outperform, microsoft, nvidia, and apple are now worth more combined than the entire chinese stock market. the nvidia arc it cap blew past $3 trillion this week as they continue to drive the tech sector. the companies are worth more than $9 trillion. to the labor market ahead of a big jobs day, jobless claims last week were rising to a one-month high of 2000 -- 220 9000, higher than anticipated and bolstering the argument that the labor market is cooling. employers announcing more than 63,000 job cuts in may, increased from ap

dow well off its lows of 341 today, down only 79. the s&p down seven and the nasdaq up two. . a lot of global developments, but just the low inflation reports this week, including import prices are pushing that lower. >>> let's talk about apple, up 8% since monday, on pace for its fifth positive week in a row. but this trading action today is especially important, as it tries to maintain its place with microsoft as one of the top two holdings in the xlk the tech spdr etf. this shuffle, this rebalance won't happen until next week, but it's based on the market values of today's close. number one, microsoft, number two, nvidia. number three, as of today, at these numbers, would be apple. each fund for the top two would be -- each of the top two would be 22% of the portfolio. number three stock would be less than 6%, which is nvidia, just behind the top two. uvs says if nvidia tops apple, it would boost the chipmaker's weight to 21% of the xlk, so the fund would have to buy more than 10 billion worth of nvidia shares next week. that's about a fifth of last week's total trading vo

countries on the continent back the movement, 5, several nations have strongly opposed it as low back. and the p is said, given the current aggressive policies, the us is starting to resemble a military organization. it is a pity that the european union created on the basis of the ideal peace. the cessation of wars and conflicts is now becoming a military organization. the eeoc considers date is of peace and ended the conflict to a radical. we only talk about how to point the weapons give money, and how to bypass the system of international law in order to supply these weapons to defeat russia. our goal should not be the defeat of russia. our goals should be peas, support development of the 3rd countries, and of course, the support of our own citizens, political consultant and human rights, defend to all, no de la believes nothing has been learned from the past. to the extent of the nuclear doctor, now the russian federation costs for retaliation. where's the task? but the jeep weapons, in the event, the existence of the very existence of the russian for the russian is uh, on the line. uh yes, i

of your retirement portfolio into a nice low-cost investment fund or etf, they have very low fees versus the s&pefore the break because it's a good advice. being a savvy stock investor takes work. being a savvy index fund investor is relatively easy. if you manage your portfolio well, if you do your homework and stay disciplined, i think you can beat the s&p 500 with a diverse group of individual stocks. i do like one were to overweighted, but not everybody has that time of kind. not everybody has that temperament. not everyone is contractible taking on mr. risk to chase a higher return. that's fine too. you have to do what's right for you. call that suitability. what suits you. keep that index fund opgtion in your back pocket. assuming you want to profit from individual stocks, let's see how you can do that without the stock market taking total control of your life. from the get-go, accept that the best is enemy of the good. there is no point in trying to buy or sell stocks a the perfect moment. nobody is that talented. even making the attempt will drive you nuts. you need to accept results tha

p and nasdaq looking up. the dow would open about 25 points low eer. the nasdaq and s&p firmly in the green.ging partner at branch global capital vuzers, cnbc contributor, and notable friend of the show. good to have you back. >> good to be here, frank. >> how is the day shaping up. what's your w.e.x. word of the day? >> my word of the day is buy fur indicated. my personal view has become buy fur indicated in what i think will play out in the short term versus the longer term. in the short term i've had to temper some of my bearish posture just because the catalysts i thought would be catalysts didn't play out in the market. long term, remain bearish and we'll get into the reasons, i'm sure. also the market is buy fur indicated. when we're seeing the tech leadership like yesterday, i expect that to continue. as as we enter the cycle, frank, i think the investors will start to concentrate on the companies putting up 20% earnings growth even as the environment becomes a lot more hazardous versus the rest of the companies that will put up low single digit earnings growth. >> the quote, unquote

performance in the futures it looks like the dow will open about 125 points lower right now off of its lows. the s&pen, the nasdaq getting a boost from broadcom. broadcom earnings seeing a big boost for ayeah announcing the ten for one stock split. big spike after earnings week to date shares the up 20% that will do it for us on "worldwide exchange. coming up joe, becky and andrew. "squawk box" starts right now. >>> good morning, the feds seeing one interest rate cut for the year comments from chair powell we'll bring it to you straight ahead. plus, elon musk claims victory in a post-on x saying tesla shareholders are approving his pay package by a wide margin. >>> and former president trump will meet with ceos in washington today we're going to take you there live for an update on the relationship between president trump and biden and business leaders. as to thursday, june 13, 2024 and "squawk box" begins right now. >> good morning, everyone and welcome to "squawk box" right here on cnbc we're live from the nasdaq market site notice times square. i'm becky quick. he's andrew ross sorkin. joe is out

only 2% of the s&p 500's 503 constituents are currently at all-time highs or knew that. 7% are at one month lowse bifurcation in the half's and the have -- have's, nvidia, and everyone else. annmarie: the s&p 500 may rally close to 10% this year. they are lookingis overdone and it's a bubble, and the call for mid 2026 is the 4800 level. into a crystal ball for 2026, good luck. lisa: if they can look into a ball for next month i would be grateful. the discussion around weakening versus weak is growing increasingly loud. something you mentioned that is important. the economics of price index turning the most negative going back to august of 2022 as we have seen a downward shift in a new way. it seems as though people weren't expecting the economy to weaken quite as quickly as it seems to be doing. dani: it did sneak up on us but if we listened to the companies we might have seen it. you discussed it here so you definitely saw it. consumer facing corporation saying something has changed in consumer habits. we are seeing that pickup was some. mcdonald's offering five dollars value means. hertz tryin

p, lost its majority in recent elections. low date will be sworn in for 3rd time on site. today. not least 4 people have died and more than 20 of an injured in a train crash in the czech republic. the collision between the passenger and the freight train, the code in the city of how the big stuff which lies on the main rail, kartel, which links the chemical problem to the east of the country emergency services are at the same. the collaborations had been held in funds to mount the h. s. anniversary of the day. the june 1944 troops from the u. k. the us and canada attacked german.

things like the s&p 500, we know we are in a situation with the top 50 stocks in the s&p, correlation is at historically low levels. that tells me that volatility is doing something interesting. but gains are accounting losses, which is not something we normally see. katie: beyond big tech, i thought this note from your notes was interesting, that you continue to see margin pressure from retailers at the midpoint of the value chain, but you see continued strains for travel stocks and luxury. that is interesting because even though we are seeing the pace of inflation cool a bit, the fact is that prices are a lot higher, an absolute level than they were a couple years ago. i have heard that to be bearish basically on some of those sectors that you named. your obviously taking the other side of that. sophie: i am. i am choosing the path of positivity for the sectors. yes, inflation is high. yes, i do not think consumer spending power is out of the woods yet. but we only need to look at the absolute strength of some of the sectors. the numbers from delta, for example, one example. yes, growth in lecture is slow

the nasdaq and s&p are sitting below all-time highs. the dow off the lows of earlier. lower. s&p is basically flat. nasdaq firmly in the green. we are looking at the bond market. benchmark ten-year yield at 4.29. remember, it was above 4.6 a few weeks ago. bond yields have declined considerably this month. that's the set up. >>> let's go to the big market story. may's employment report due out in three hours from now at 8:30 a.m. eastern time. the report is expected to show non-farm payroll ticking up from april of 175,000 to 190,000 jobs added in may. the unemployment rate is remaining steady the at 3.9%. this comes ahead of the fed policy meeting next week. investors will be looking at this report for any insight on when jay powell and company could begin cutting rates. jpmorgan chase and citi are among the few banks calling for easing to begin as soon as next month. let's bring in julia pollak from ziprecruiter here in studio. >> good morning. >> what are you expecting from the jobs report? how do you think the fed reads this? >> i don't think the fed's job is that

talking about the transports, have never confirmed the new highs in the s&p 500 the nasdaq, to tim's point, outperformed from the april lows, it was up 17%, the nasdaq composite, versus the s&p, up 10%, 11% we've seen, when we got into quarter end q-1, we saw a pull back in the april lows, when the happened, nvidia went down 23% think about how much higher nvidia is right now, think about how much higher that fab five is right now, so, tim's talking about a narrow, and then this breadth, but energy stocks, they had a good couple days they don't act well. >> well, it's one day. so, i'm not even here to tell you that breadth is back if we're looking at the market, saying, oh, boy, what happened well, there's a couple of things that happened, if they continue, i don't think are bad at all banks, energy, and utilities should participate i am overweight those places, relative to their market weightings, for my clients and also just outright, because i think the valuations, those are places where i think we can defend what's going on >> i'm going to get into your head for a little while. >> uh-oh >> it's kind of roomy. it's not

.75% the broader s&p 500 is the bigger, more breadth-type gauge for the index is at 54.72 and it's up eight points or .2%. at the heights of the session we were up 26 points at the lownd remember the high watermark so far for that average is 5505 and that's the intraday record high for the s&p 500. meanwhile, the tech-heavy nasdaq composite is down one-half of 1% the chips and the composite at 17,597 there is a pickup and chatter around wall street these days about whether or not it's a trade happening with regard to maybe not just the magnificent seven, but everybody else. take a look at the s&p 500 etf versus the equal-weighted etf which is up 5% that gap has gotten bigger over the course of the year and it's gotten fairly wide in the last couple of weeks and there's a move higher just a little bit for the broader kind of equal weighted index and whether or not there's a broadening out that remains to be seen and that's a trend that some folks are trying to see if it plays out. let's give you a market cap check right now on the big three. the $3 trillion club that is microsoft, apple and nvidia in terms of market cap they are in that order, first, second and third

p, and you basically had this big pop on the cpi data. you gave almost all of it back and small caps had made new lows relative to the s&p. being he extrapolated to the broader market because of the defensive undertones. >> do you defer to the market's conclusion we have a risk below the surface? or do you say that's an opportunity for smaller stocks? >> i do think -- opportunity is there down the road. i worry and i do hear some people, not a ton, but hear some people trying to make bullish arguments on small cap because the cuts are coming and i just feel like we immediate to wait and see. it's almost like listening to children who aren't listening to their parents and just determined to hear what they want to hear from the fed. i think there's going to be disappointment on that timeline. our camp at rbc is looking for a december, not september cut. when i hear september skups discussions i feel for this year we may be setting up for disappointment. >> you're at 5300. >> we're a little bit above our target in terms of where the market is. i loved the discussion we heard earlier about sort of price targets and markets mo

low, stocks are roared back. we'll have new closing highs again today. the s&p and the nasdaq. came from the october low and stocks sold off in april and then we came roaring back from that, too. >> right. >> doesn't that trend count for something? the market is so -- megaphone like, hello, we don't really need rate cuts right now. >> look, and who knows what the market is actually saying with what it's doing. >> the market is going up. >> the market is going up. we could argue why that is. i don't know that any of us could pinpoint with this is the exact reason. undoubtedly the market is going up and undoubtedly the market is saying that is wrong. that's happened a number of time over the course of the last two years where the market turned out to be wrong about its appreciation and reversed course. i'm simply saying, yes, it's been great. there are certain areas of leadership i think probably deserve it. like tech, like some of the tech that's levered to ai and levered to the cloud. certainly some pockets of supply/demand imbalance that probably warrant the appreciation we ha

. >> one p -- one pitch low, one ball, one strike. >> steve has been amazing, almost seven years to theate since the practice field. he came back and made a diving stop, really incredible. >> and padilla cannot make the play. looking to lead it off. running at first base. william took off on contact. that's why stanton had a little trouble. alex padilla from california, this is his first congressional game. he is a roommate of tony who has the right field. >>ing to the plate now and stepping in with a runner at base, derek schmidt, the leftfielder. they had a terrific game last year. >> he looks thinner. he lost 25 pounds. >> will get down to second base. a stolen base and a runner in scoring position and we get another look. >> they had a real problem÷÷t wh injuries with republicans. we had three guys with hamstring injuries. >> schmidt is ready, gives this one a charge. picked off by the left fielder, for eric schmidt it does not take long, they are on the board. >> this is where republicans left off. it seems that they did not have the same control issues that chris had. >> a nice sc

but yesterday, the very low non violence from the assault fall, it technique was actually posting discrete. so i am, you know, on a p on, i'm from, it's the story called a behavior. it's under the colonial. um, because it is that's the $1.00 to $1.00 of the most of the african countries, including pena, to be some visions to it. we must positive on the external inches that's continued on the middle of political discourse. lived only independence. i'm from there now, but genuine people do shop on disc off a 14 year long, legal baffled, and almost 2000 days behind false julian assaults has worked for a taking his 1st steps on home soil. his how he was met by his family. come, bradford, of the boys for town home comes off to a pit stop on a remote pacific island where he appeared in court. i'm tired of guilty to a single chunk of conspiracy as a deal struck with washington to us. the judge, the sentenced him to time ready soft the, the psalms could be seen leaving the court room a free mine off to birth decade of back in the expedition to us. and while his solve his finding the over his legal team says the case number

p 50600. they're down. mid to low income tiers.fering from high interest rates. >> jake, i appreciate it. thank you for joining me today. read the nslewetter for more. jake oubina from piper sandler. perfect way to tease the fed decision. it will be right after this break on "power lunch." don't go anywhere. sure, i'm a paid actor, and this is not a real company, but there is no way to fake how upwork can help your business. search talent all over the world with over 10,000 skills you may not have in house. more than 30% of the fortune 500 use upwork because this is how we work now. >>> good afternoon, everyone and welcome to "power lunch." alongside kelly evans i'm tyler mathisen. glad you could be with us. and we are just minutes away from the fed's decision on interest rates. let's get a check meantime on where the markets stand. the s&p 500 and nasdaq both hitting records today up more than 1% each. apple shares continuing to rally following its ai announcements on monday. i guess the information starting to sink in there. the

it's rejected. sanctions against russia, composed by chance of low shoals, ruling social democratic party, s p d there. with 15.9 percent of the poles, not s p d members would create to create a 5 be our opponents with because of the same of the public sheets pushed back against lots of parties. so while i get this about salad i, they give them the results of the election was bad for all 3 governing parties. nobody should be going back to business as usual. the votes for right wing populace parties in our country and the other european countries must concern us. that's what i'm calling about questions of a reason about what will happen to ge. busy these national parliament followed the ege with election results. a car the, the german government is hosting. letting me is the last key for a conference about ukraine. such visits have become a regular occurrence european capitals over the past 2 years. as hard to contribute to a range of mazda and explains the german establishment that by chance, oh i've schultz is still recovering from a major electoral hang over after voters. just pick the anti

conference that came a huge cost with around 11000000 us dollars spend on just security, a low it sounds like a very expensive p r a has happened to me. and just before the stomach kicks off on saturday, the day before the russian pro isn't actually spoken, proposed another pace, initials to is that ukraine on his allies promptly reject it and tell us more about that. well, yes, that's why on the eve of the conference, russian president vladimir putin outlined a piece proposal that would lead to a see saw. now he said the ukranian troops must withdrawal from the territories new to incorporated into the russian federation. a bunch of particularly don't yet new guns can he said that like that ukraine must've off his plans to join night. so now he offered foot to facilitate the safe withdrawal. all the troops from those areas, but he also wound if those terms when accepted next time. the offer would be very, very different. now of course, this was instantly dismissed by you frame and it's back isn't like the light is coming from the american national security advisor dykes sullivan, who on sunday said that uh, sig

low. it sounds like a very expensive p r a has been to me. and just before the summit kicked off on saturday the day before the russian pro justin archways spoken, proposed another pace, initials to is that ukraine on his allies promptly reject it. and tell us more about that. we have such a lie on the eve of the conference, russian president vladimir putin outlined a piece proposal that would lead to a see saw now he said the ukranian troops must withdrawal from the territory snooty incorporated into the russian federation. the invention, particularly at don't yet new guns can he said that like that ukraine must give off its plans to join night. so now he offered some food to facilitate the safe withdrawal of the troops from those areas. but he also wound, but if those terms wouldn't accept it next time, the offer would be very, very different. now of course, this was instantly displaced by ukraine unexpected somebody, the light is coming from uh, the american national security advisor like sullivan, who on sundays said that uh, signing this

low. it sounds like a very expensive p r a has been to me. and just before the stomach kicks off on saturday the day before the russian press, justin, it's waste spoken, proposed another pace. and this is to, is that you train on is i live promptly. would you like to and tell us more about that? well, yes, that's why on the eve of the conference, russian president vladimir putin outlined a piece proposal that would lead to a see saw. now he said the ukranian troops must withdrawal from the territory snooty incorporated into the russian federation. he mentioned particularly that don't yet new guns can he said that like that ukraine must give off his plans to join night. so now he offered some food to facilitate the safe withdrawal of the troops from those areas. but he also wound if those terms when accepted next time. they also would be very, very different. now of course, this was instantly dismissed by ukraine audit spot, cuz some of the lights is coming from the american national security advisor jake sullivan, who on sundays said that uh,

lows this morning. crowdstrike, go daddy and kkr are hitting 52 week highs after it was confirmed they would join the s&ptest quarterly weighting change. we are continuing to keep track of consumer names. denny's, dine brands and designer brands hit 52 week lows. designer brands down 6.52 percent. looking at the broader markets, at the s&p 500, we are unchanged on the day. we were larry -- lower earlier in the session. but i will call that flat on the s&p 500. nasdaq up about 1/10 of a percent. as we've been talking about all program, the week really starts on wednesday, when we get cpi figures and the fed's rate decision. it is still the macro that is driving this market. we are in a little bit of a lull when it comes to the season. that's all from me. i am katie greifeld and this is bloomberg. ♪ thanks to avalara, we can calculate s tax automatically. avalarahhhhhh what if tax rates change? ahhhhhh filing sales tax returns? ahhhhhh business license guidance? ahhhhhh -cross-border sales? -ahhhhhh -item classification? -ahhhhhh does it connect with acc...? ahhhhhh ahhhhhh ahhhhhh hi, i'm janice, and i lo

p 500 down on the day. looking at a decline off session lows but still down about one half of 1% near session lows. the nasdaq 100 now negative about 4/10 of 1% lower. the bloomberg dollar roughly flat on the day seeing gains after a reversal earlier in the day. crude, a 74 handle. more than 3.4% lower on the day. this is the lowest levels we have seen on crude since february of this year. opec saying crude production would be steady well key members of the group are flouting quotas. we will keep an on all the moves. we want to bring you midday movers. david ellison of sky dance media is said to be making an offer of paramount that includes an option for non-sharing -- nonvoting shareholders to cash out a portion of their stock for $15 a share. the decision is in the hands of the chair of the matriarch of the family. we are keeping an eye on berkshire hathaway. a-shares were among dozens of stocks that were briefly halted this morning due to a technical issue that has been resolved at the new york stock exchange. last week trading data from multiple exchanges including the s&p was not being fed int

i do from the t d p policy in the under per dash he's currently on a low or ongoing prosecution for a ledge. misappropriation of $44.00 and a half $1000000.00 mentor, unemployed youth. he denies the allegations and the prosecution easy. and how do you know that he doesn't want anything for the body? government in return for his support? well, not to my dues, lucian is remitted to up with a some of the guy on the dish come are, was vision is limited to still be are. so these are, as i said, state level leaders, that bodies also state level bodies. they have no, no national ideas, no national minds. they will allow movies, government to run on inspection agenda on its foreign policy. yeah. the investigative arm, those have been ladies who have an exam, as you're saying, so surely they would care desperately about the catastrophic nature of india's economy. i mean, don't you think in return for making moody by minister they wanted a new economy minister instead of normal, or is it the roman and none of these uh, reason, a lot of cushions. i would say to be the pronouncement as strong in

so waste that so while g l p one in its natural form is only out there for a matter of minutes with lira glue tides, it's a dead end with stomach low tides a whole week and next tuesday, next option. so me artificially made g l p one is a revolution for people frustrated with trying a series of diets to no avail. as a 6 foot to i was 40 years old here carrying all that weight was a huge burden. a saw then most today i feel so much younger. the diplomacy? i went on my 1st diet when i was still a child. so 11 or 12 ago, i was given an appetite suppressant which helped me to lose 20 or 25 kilos. before i'd even hit puberty and thank you, have them in the next 50. after trying one diet after another to lose weight. now the fonts decided to have surgery eastern by 2005. i'd reached a state that doctors call morbid obesity. html beats that only tell them that i was fitted with a gastric sand and it was so bad that i could no longer keep up with my child according optimum and i was unable to get out of my car. so we chose the gastric band instead of a bypass fee. i was afraid of having surgery that could not be reverse to you know, by the

lows. no one can argue that the s&p is not overextended in terms of pricing. of the time sold off when it's at these multiples in past episodes. i would not be sokd to see some profit-taking again, because of the pricing. and we really have to see the profits. you know, when you look at the price per earnings, you have to see those continue to expand. and seeing that the global economy is starting to slow a little bit, will we continue to see enough growth to demand these kind of prices. >> you sound skeptical? >> i am skeptical. i have talked about this on past episodes, i'm a marathon runner, i'm a rock climber, i think a lot about steps to take to get to the finish line. in the 28 marathons that i've run, i've had some that have blown up, literally in some cases, because i was at the boston marathon, but i think about how to stage my race. and what you don't want to do is go out too fast. it's the biggest mistake that runners do, is go out way too fast. when we see these stocks, and you can't look at this market and say the markets are up. really, it's just