it's not insane that we're here. >> pippa stevens, to you on this wild trading day for cruel oil pushback a little closer look at the movement in oil today. this morning prices did start trending lower right around noon, middle e east -- prices fell almost 5% with wti dropping below 70 and getting down to $69. then prices started drifting higher as traders were sceptical about whether or not this deal would come to fruition right around 1:45 we learned that the white house called those reports false and wti ultimately finished the day about 1.75% lower. what i think is more interesting, when you look at a one-week chart, you can see how bearish the sentiment in oil is. today's drop to the downside was more extreme than the move to the upside earlier this week when saudi arabia announced that 1 million barrel per day production cut it does speak to how bearish sentiment is >> pippa stevens, quite a day for crude oil. mike santoli, energy is one of the negative spots on the day. it's been one of the big disappointments on the year. >> really a payback phase. the sector was down 60% in a dow

pippa stevens is back, and standing by with that. >> we've got details on the energy sect.up next fresh, warm hot dogs! when i'm not selling hot dogs, i invest in a fund that advances innovations like robotics. fresh, warm hot dogs, straight out of my torso! one for you, one for you. oh, you're a messy one. cool, right? so cool. anyone can become an agent of innovation with invesco qqq, a fund that gives you access to nasdaq-100 innovations. hot dogs! fresh, warm hot dogs! before investing carefully read and consider fund investment objectives, risks, charges, expenses and more in prospectus at invesco.com. this is the all new, all electric lucid air. a car that goes as far as it does fast. as sleek as it is... spacious. as smart... as it is beautiful. introducing the lucid air. experience the best. ♪ >>> will the fed raise rates again this year? the majority of you said yes two-thirds of you, in fact, 61%. up next, the crucial cpi numbers sending stocks higher. what that might mean for the fed decision tomorrow when we take you inside the market zone, and by the way, do no

tyler, kelly. >> all right pippa, thank you investment pippa stevens. >>> get now to seema mody for anoon republican house oversight committee chairman james comber is taking the first steps to hold fbi director christopher way in contempt. he released a resolution today which takes issue with the fbi's refusal to hand over a document that allegedly describes joe biden accepting a bribe as vice president. the fbi says it cannot release the document because it is bound by justice department policy >>> pro wrestling legend the iron sheikh has died at amping 21 he rose to prominence in the 1980s when tensions between the united states and iran reached a boiling point during the tehran hostage crisis his team shared the news on twitter but did not give any details of how he died. >>> soccer star lionel messi is reportedly set to join the mls the argentinian legend is joining inter miami after his exit from paris saint-germain. it includes a collaboration from brands of adidas and apple, something had a we're watching closely. >> thanks very much, seema seema mody. >>> ahead on plufrp, liv

great to see you >>> time for a check on the top corporate stories with pippa stevens. >> lumina says the ceo is resigning after losing support of the board members after the failed $7 billion deal for grai and proxy fight with carl icahn. the board will begin a search for the replacement. >>> the financial times reports that elon musk refusing to pay the twitter rent created the surge of delin delinquency at g sachs. it does not intent to restart payments or cover past due amounts. >>> and george soros is handing control of the $25 billion empire over to his 37-year-old son alexander. in speaking with the wall street journal, alex said he is more political than his father and hinted at a significant financial role for the soros organization in the u.s. elections next year. frank. >>> pippa, thank you back to the markets. inflation and the fed could determine the directs oion tof e markets this week. headline cpi is forecast to rise 4% year over year. down from the rise of 4.9% in april. softer inflation could help the fed justify skipping a rate hike this month, however, it is not un

pippa stevens joins us with move. >> reporter: the weakness this week all about demand concerns withrs fearing that actions by central banks will curtail demand for oil u.s. oil finishing the week right around 69.25 energy stocks seeing a losing week the s.o.p. underperforming and investors are not loving this trade. according to the latest data from bank of america, while hedge funds were overall big buyers last week, they dumped energy mans. the four-week average flow now flipping to negative morgan >> let's get to contessa brewer for the cnbc news update. >>> form marks one year since the supreme court overturned roe v. wade. today new york's governor signed a bill that shields health care providers from prosecution meanwhile, an nbc news poll found a year later 6 in 10 voters remain opposed to the supreme court's decision >>> traffic once again is rolling along i-95 that collapsed 12 days ago after a fiery tanker truck crash officials thought it would take months to repair and then they came up with a temporary fix >>> spacex launched 56 s satellites into orbit today. spacex is a

one area that's avoided multiple rounds of sanctions is russia's nuclear industry pippa stevens is here >> hey, eamon. more and more lawmakers are calling to limit our dependence on russian nuclear energy. at present there is no alternative. the country controls 38% of global conversion and be 46% of enrichment about 24% of the u.s.'s enriched uranium comes from russia. now some are self-sanctioning due to fears that russia could cut off exports. already this year more than 100 million pounds has been purchased. that's almost the entire volume from 2022. that's driving up spot prices which are hovering around 58 bucks. that is lifting uranium mining stocks with ura and urnm both up double digits this year. >> pippa, thank you. >> let's go to a huge part of that story a late move and then a significant one. let's get back to rick santelli now. rick -- maybe now you can explain what's going on with bond yields. >> yeah. it's battery issues whether it's my mic or a tesla. if you look at import prices import and export prices were both down sharply, but at 8:30 eastern we were down 6% on ye

. >> let's get to pippa stevens. >> the denver nuggets beat the heat 94-89 last night to win the firstpeople were injured in a shooting overnight in an area of denver where fans were celebrating it's still not clear if the gun violence is connected to the xwralgss a suspect was taken into custody and three of the victims are in critical condition. >>> president alexander lukashenko would not hesitate to order the use of russian tactical nuclear weapons if belarus faces aggression he says those weapons are set to deploy to his country in several days russian president vladimir putin claimed russia would maintain control of the weapons but lukashenko's statement seems to contradict that. >>> pat sajak says he's retiring next year after 40 years on the job. say jack took the helm of the show in 1981 alongside vanna white. he has not said who will replace him. sajack's last season of the show begins in september. carl, more than 40 years. >> amazing run amazing run. thank you. pippa stevens this morning. >>> coming up after the break, former vice chair al blinder is with us, we'll talk abo

elon musk hosting another twitter space talk this time with the general motors ceo mary barrow pippa stevens the details. >> shares are pacing for an 11th straight day of gains after general motors said they'll use tesla charging network they can use an adapter beginning next year. this is a major win for tesla which earlier inked a similar deal with ford while tesla is jumping, ev stocks are sinking ev go and wallbach lower today distinctions need to be made between business models. this is negative for a charging competitor like ev go which has a partnership with gm. b of a reiterated its rating of charge point notably fleet, multi-family and office charging. >> pippa, thank you. >>> let's get more details on the charges against former president trump, the indictment has been unsealed. amen >> reporter: it hands been unsealed it's 49 pages. the former president of the united states and one of his aides have been charged in a 38-count indictment. here's the break down. former president of the united states is charged with 31 counts of willful retention of national defense information. that'

pippa stevens has that story >> the white house says that report that iran and the united states wereum enrichment was false. that comes after a report rlier today that said the two nations were nearing a deal. it had already started to bounce back from the lows on some traders weighing potentially this might not happen. so it had already recovered, but the white house saying that report is false. kelly? >> thank you very much and we see oil halving its declines thank you very much. >>> coming up, shares of salesforce are higher today after a shakeup was announced. we'll get a preview of the salesforce shareholder meeting kicking off in 15 minutes, coming up next on "the chgeexan." [office sounds] ♪upbeat music♪ ♪♪ ♪when the day that lies ahead of me♪ ♪♪ ♪seems impossible to face♪ ♪a lovely day (lovely day)♪ ♪(lovely day) (lovely day)♪ ♪(lovely day)♪ a bank that knows your business grows your business. bmo. ♪ ♪ the biggest ideas inspire 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? ♪ ♪ ♪♪ dad

what iger is going to do he will not be there forever, and who will be the next team leader >>> pippa stevens has the headlines for us >> and then the trial started for the shooter that murdered 14 students this is the first time a u.s. law enforcement officer has been tried in connection with a school shooting. >>> and then rent prices may be easing up in the united states the country just saw its first annual rent decline since it started following the data three years ago. still the report found rent prices are 25% higher than in 2019 and delaware senator launched a historic bid for congress today, and if elected she would be the first transgender person in congress scott, back to you >> pippa, thank you. >>> bitcoin rallied more than 10% in the last week as interest grows in etfs. did i say chicken wrong? tired of people not listening to what you want? it's truffle season! ah that's okay... never enough truffles. how much are they? it's a lot. oh okay - i'm good, that - it's like a priceless piece of art. enjoy. or when they sell you what they want? yeah. the more we understand you, the b

our oil ace pippa stevens joining us >>> we're back right after this. that's what you get from the morgan stanley client experience. you get listening more than talking, and a personalized plan built on insights and innovative technology. you get grit, vision, and the creativity to guide you through a changing world. ♪ ♪ ♪ every day,u th businesses everywhere. are asking. is it possible? with comcast business...it is. is it possible to use predictive monitoring to address operations issues? we can help with that. can we provide health care virtually anywhere? we can help with that, too. is it possible to survey foot traffic across all of our locations? yeah! absolutely. with global secure networking from comcast business. it's not just possible. it's happening. >>> welcome back let's get to the move from jenny which i don't think is going to surprise that many people because you felt horrible the day advanced auto parts took a nosedive to say the least. new 52-week low today. you're gone. >> gone. got out of it last week. i'm frequently guilty of holdin

. >>> let's get a news update with pippa stevens. >> former president donald trump is on the attack thisning just hours before he's set to surrender to authorities in miami in his classified documents case trump called special counsel jack smith a thug and trump hater on his social media platform truth social this morning. a law enforcement source says he will not have his mug shot taken this afternoon and his hand will be scanned digitally for fingerprints without the use of ink. trump was indicted last week on 37 felony counts. >>> at least 11 people are dead and more than two dozen are hurt after a russian missile attack on a warehouse in an apartment building in ukraine overnight. it comes as kyiv launches a counteroffensive against russia. more than 15 months after moscow's invasion. >>> and more than 350,000 jeeps recalled because rear coil springs can fall off while driving. the recall covers some grand cherokees and grand cherokee sls. there was a recall of some of the same vehicles last month because of steering problems >>> after the break, a rare downgrade for apple. we'll bre

california the state's grid operator is facing a challenge the steepening of the so-called duck curve, pippa stevensere to finally explain. >> yes, after that tease yesterday. it's called the duck curve because it looks like a duck so we have a chart here if we want to pull that up, which really illustrates how the net load -- net demand load varies during the day and so there you go. there is the duck. so you can see that during 12:00 p.m., demand is pretty low and that's right as solar is at its peak then later on it ramps up as people go home, the sunsets. they turn on their washing machine, they turn on their laundry machine, that kind of thing. so as you can see from the chart, between 2015 and the top line up there, and now, which is the white line at the bottom, that curve has gotten a lot more steep as more and more solar has come online. and that poses a challenge for the grid operator because it's that ramp up in the afternoon that's really, really hard and peak power plants like gas fired plants they can't just ramp up at a dime. it takes a while for it to come online now, converging ener

oil rebounding after yesterday's big drop and big declines all year let's bring in pippa stevens for the details. the big drop yesterday was 4.3%. it is making back the gains but still below the $70 level. a couple factors driving the bullishness including china cutting a key short term lending rate and the idea is to inject some optimism into the post covid recovery that has yet to actually come to fruition. of course you had cooling inflation data which then sets the stage for tomorrow's fed decision if there is a pause people are still optimistic we'll see demand growth for wti. goldman sachs out with a note saying the stocks have started to look better in part because of cooling raw material costs, things like sand and tubular piping those prices have started to ease so they said it is beneficial looking forward they did upgreat deven but down graded goe based on the down graded outlet for natural gas prices yesterday there was a big call on oil so today is about energy stocks yesterday for brent it was 90 i believe it was 96 going down to 87 somewhere in that range on the brent.

fresh numbers show inflows are back on the rise pippa stevens is here with a closer look. >> the retail trader is back, because inflows from retail investors averaged $1.36 billion per day over the last week now, this marks a turning point, since retail investors have been on the sidelines over the last three months the firm pointed to several factors, including better than expected economic data and the debt ceiling deal. most importantly, its enthusiasm around ai that is fuel thing round of buying. that is notable, because initially retail investors weren't buying the hype. because of that, there will be more retail buying in the coming weeks. we can see what investors are actually buying. tesla, of course, tops the list with $1.22 billion of shares purc purchased. apple and nvidia follow each with more than $300 million. amd and amazon ouround out the o five if we look at the names with the most new interest, dollar general takes the top spot there was a more than 300% increase in volume in the last five seconds t-mobile and lululemon also seeing a jump. >> t-mobile? >> household nam

prices higher after saudi arabia decides further to cut production pippa stevens joins us with more >> this was really the surprise of the weekend this was saudi arabia acting alone outside of the broader opec plus group. and they decided to implement a 1 million barrel per day production cut in july that could be extended further out. saudi arabia's energy minister called it a saudi lollipop, basically saying - >> what? >> saudi lollipop, basically saying it's a market sweetener and comes after oil prices have not been doing so well and heading lower. apart from that, opec and its allies agreed over long and contentious meeting to ratify their april production cuts to next year. remember, this is the third time saudi arabia specifically has cut production since october they cut in october, april, and now in july once again so they really are the leader here in taking action even when some other members don't want to the third thing that came out of that meeting was an adjustment of the quotas with the uae getting a higher quota next year >> we're seeing wti right now at $72.14, up ha

over to pippa stevens for a cnbc news update. >>> hi, kelly. outlined a $42 billion effort to outfit all of america's homes and businesses with reliable, high-speed internet today the spending will be based on a newly released map from the fcc. it details the gap in access texas and california, two of the most populous states are set to receive $3.1 billion and $2 billion respectively biden says there are some 8.5 million locations in the u.s. that lack access to broadband. the jurors who convicted robert bowers in the deadliest anti-semitic attack in u.s. history are hearing arguments about whether he should receive the death penalty. powell hit worshippers in 2018 the sentencing phase of his federal trial is expected to take four weeks or longer. >>> and the united states is set to announce a new military aid package for ukraine as russia deals with the fallout from the wagner group's uprising. according to reuters, the package will include ground vehicles, munitions and anti-aircraft systems. this would mark the 41st assistance package for t

pippa stevens is closely watching -- i was going to say is a meteorologist >> what continent you do >tely, i'm not a meteorologist but i will do my best here. basically, what we've seen is soft commodities like sugar, coffee and coco are hovering around multiyear highs and now the arrival of el nino could rock these markets even more prices have been rising for several months in anticipation of the coming weather shift as well as some supply disruptions. cocoa futures are around their highest in more than seven years while sugar and robusta coffee are at levels last seen a decade ago. at its simplest el nino is when trade winds weaken and warm weather is pushed east toward the west coast of the americas it can have significant impacts on global weather including heavy rainfall or droughts or it can be almost a non-event. and that's where the challenge comes in it is very difficult to predict. but for sugar, for example, the fear is that el nino will impact the two major producers, bringing flooding to brazil and lower rainfall to india. and this of course comes as food inflation has b

. >> pippa stevens joins us with today's cnbc "money minute." >> starting with coinbase plunging after the secures and exchange commission sued the crypto company alleging it was acting as an unregistered broker and exchange. this comes of athe regulatory body sued crypto exchange binance yesterday. in an interview on cnbc, s.e.c. chair gary gentler spoke about the suit and says it needs to come into compliance. >>> microsoft has agreed to pay the ftc a $20 million fine in a privacy settlement involving kids. the agency accuses the tech giant of illegally collecting and retaining the data of children who signed up to use the xbox gaming console without getting consent from parents or guardians. a federal court still needs to approve the settlement. >>> and mcdonald's releasing a new menu item to celebrate mcdonald's land grimace's birthday. grimace's birthday meal would include the fast food chain's first ever purple shake and will be available starting june 12th. wow, purple shake. >> what flavor is it? right is? is it grape. >> my question was going to be, do the kids know who grimac

news update this morning with pippa stevens. >>> the supreme court, immigration policy today, in an 8-1 vote the justices overturned a texas-based federal judge's immigration ruling it blocked the government from directing immigration authorities to prioritize deporting non-citizens who pose a public safety threat, including those with a serious criminal record. the policy essentially kept other unauthorized immigrants who had been living in the country for being deported. >>> there are new fears about a possible disruption to u.s. air traffic operations, a government audit released today finds the country is facing critical staff shortages at air traffic control facilities it says 77% of critical facilities are staffed below the faa's 85% threshold, and auditors claim the faa doesn't have a plan to address the issue. >>> and temperatures in beijing hit triple digits this week, shattering the city's june heat record, a weather station recorded 106 degrees fahrenheit around 3:00 yesterday, a full degree hotter than the previous high set in 1961 the heat is expected to continue through

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

pippa stevens joining us with more. >> not much of a reaction which means the market doesn't think there's going to be some sort of big disruption to russian supply, but is duoes introduce there could be chaos in russia prior to this past weekend i don't think the market anticipated that coming. still, the move today or really the lack thereof, rebecca at private wealth told me it does speak to the mentality shift, the oil market in terms of how traders approach geopolitical risk, where now they're not factoring in supply disruptions until they happen because of course that's been a big-time losing trade if you factor that in ahead of time everyone thought russia was going to be disrupted after the invasion and that did not come to fruition. re the market is being more cautious when it comes to the headlines. couple other things nats gas at the highest end more than three months on the scorching temperatures in texas. it is up more than 20% for the month so it's looking extended, we'll have to see. wheat prices today hit the highest in four months and turned lower still at more than 20% on

i'm pippa stevens with your news update the critical stretch of i-95 that collapsed in philadelphia lessing today. that is far ahead of the original months long timeline. traffic will travel over three temporary lanes as crews rebuild the main portion of the overpass it's estimated around 160,000 vehicles drive this stretch of i-95 every day >>> new charges today against the weapons supervisor facing an involuntary manslaughter charge in the deadly set shooting during the filming of "rust. hannah gutierrez-reed facing an evidence tampering charge after prosecutors accused her of passing drugs to someone else following the shooting reed's lawyer calls the new charge retall torre and vindictive she's the sole remaining defendant after prosecutors dropped a charge in april against actor alec baldwin >>> union workers at more than 150 starbucks locations across the country are planning to go on strike over the next week and argue the company is banning pride displays in some of its u.s. stores after brands including target and bud light faced backlash for their own campaigns. starbucks denie