pippa stevens? >>> a software stock is sinking , details coming up next. rylee!m rylee's realty! hi! this listing sounds incredible. let's check it out. says here it gets plenty of light. and this must be the ocean view? of aruba? huh. this listing is misleading. well, when at&t says we give businesses get our best deal, on the iphone 15 pro made with titanium. we mean it. amazing. all my agents want it. says here...“inviting pool”. come on over! too inviting. only at&t gives businesses our best deals on any iphone. get iphone 15 pro on us. (♪♪) [♪♪] your skin is ever-changing, take care of it with gold bond's healing formulations of 7 moisturizers and 3 vitamins. for all your skins, gold bond. >>> calling attention to macy's , popping, axioms says they are considering negotiating a sale directly to activist investor, mark hauser, outlining a strategic review of the company. we have reached out to macy's but they have not responded and we will keep you updated. that stock moving about 4% higher with less than 15 before the closing bell. we are back with a look at

to pippa stevens now for the biggest names moving into the close. >> moderna shares are popping following an upbeat note from ups. pointing to confidence ahead of the cmv three vaccine this year. and a broader latent virus portfolio. shares of slipping after the justice department opened a criminal investigation into the 737 max door plug blowout n the alaska airlines flight in january. the doj and boeing both had no comment while alaska airlines said they are fully cooperating. those shares are down 3%. scott. >> thank you. we will see you soon. just getting started. navigating nvidia's fall. what this move means that we an l ask -- ask tony what that a reddit ipo coming up, too. you are watching closing bell on cnbc. [sfx: wind, rain and rolling thunder] nobody's born with grit. british announcer: rose is really struggling. it's something you build over time. american announcer: that's 21 missed cuts in a row. [car trunk slammed shut] for 88 years, morgan stanley has offered clients determination and forward thinking to create the future... crowd: stop it! ...only you can see. american

now to pippa stevens with a cnbc news update. >>> the newark man who shot a young woman in his drivewayat least 25 years in prison. the 66-year-old man was convicted in january for the murder of a young woman who accidently turned into his driveway while searching for a party. in addition to themurder charge, the man received a sentence for tampering with evidence. >>> the cdc is dropping guidance that covid positive patients should isolate for five days, ending the strategy in place since the pandemic that health experts said was an important part of controlling the spread. the agency issuing new guidelines today aimed at treating covid more like other respiratory infections. >>> first responders made a daring rescue today, saving the driver of a semi truck dangling off the clark memorial bridge in louisville, kentucky. the bridge is still closed to traffic after the semi appeared to have been going north before it crossed to the south bound lane, crashing through a guard rail. that is quite the video. >> pippa stevens, thank you very much for the news update. >>> bitcoin's monster ral

pippa stevens here with that details. >> you may finally be breaking out of this range we've engine for80 a september with math, saying that the 80 dollar level has been extremely important resistance. double t i have stayed above that level and is very bullish for crude energy stocks going forward. maybe today, some momentum with geopolitical risks still they're not totally priced into the price of the wta here, and also, all eyes right now are on the possible extension of those opec cuts and 2.2 million barrels per day that was a decision outside of the opec group entirely. so, each individual country is expected to pronounce an extension of those cuts in this coming week, likely into the second quarter. then, june, this is the next opec plus ministerial meeting, so, that's what we'll hear an update on what the protection plans are for the second half of the year. man quickly, plug power on another rollercoaster crying today as always, shares are in the green right now earlier tonight, they were down more than 10%. that company issued its ten k last night, it removes that going concer

pippa stevens is standing by. >> one copeland vaccine makers boosting the stock.ll the details coming up next. rylee! from rylee's realty! hi! this listing sounds incredible. let's check it out. says here it gets plenty of light. and this must be the ocean view? of aruba? huh. this listing is misleading. well, when at&t says we give businesses get our best deal, on the iphone 15 pro made with titanium. we mean it. amazing. all my agents want it. says here...“inviting pool”. come on over! too inviting. only at&t gives businesses our best deals on any iphone. get iphone 15 pro on us. (♪♪) meet ron. ron eats, sleeps and breathes hoops, but oh how he can nail a software solution. you need ron. ron needs a retirement plan. work with principal so we can help you with a plan that's right for him. let our expertise round out yours. >> 15 minutes to go before the bell rings, and look at the doubt. it's up now by more than 400 points. goldman sachs, one of the big performers today. home depot is an outperform her. caterpillar. a pretty widespread move here for membership in

thank you very much, pippa stevens.cro wouldn't have been a candidate to be added to the s&p 500. whirlpool going out, that's been one of yours in the past. >> yeah, it has. it has not been for a while. i would say i'm neutral on the stock. we have seen it getting kicked out of the down as being a bottom for a lot of stocks. look what it did for exxon, different circumstances. but for whirlpool coming out of covid where there was supply constrain at a time with demand, ran into margin pressure on supply constraints, a lot has eased. there are challenges ahead on margin but i think the stock is interesting, and i think at this point it has gotten more expensive as the earnings have deteriorated a bit. but i think it is an interesting spot, and this might be that moment for the bottom. >> decker has put up a huge quarter on february 1st. i mean -- >> does that pain you to admit it was a huge quarter for deckers? >> no, i mean should it? >> let me ask you a question, would you rather, hugs or crocs, what would you do? >> y

. >>> pippa stevens has more on archer daniels midland. >> reporter: reuters sighting three sources withnowledge of the matter. they reportedly directly relate to the accounting issues that the company said were the focus of the internal probe. mike? >> pippa, thank you. up next it is a question that so many are asking, trading like it's 1999? .com boom of the late 90s, is the recent run for real? we will discuss after the break. clinbeosg ll will be right back. in >>> welcome back surgeon tech stocks have drawn numerous comparisons to the.com boom of the late 90s. our next guest says today's nasdaq rally is much more grounded joining me now is nick coralis, cofounder of data check resource. i do find it interesting i think to start that debate always pops up and seems like it over anticipates this moment when things might be getting out of hand. what you think are the most relevant benchmark to compare? >> you are right, it is interesting. the way i look at it is there is more than just price action. in the 1990s the average ipo was up 40% in the first day of trading. we also don't have

. >>> let's get the headlines now with pippa stevens. >> jack teixeira signed a plea deal for leakingdreds of military classified documents in one of the most serious security breaches in year. he accepted a deal today that includes a suggested16 year prison sentence and a 59,000 fine on pleading guilty for all charges. french lawmakers gathered for a historic vote to make abortion a conse constitutional right today. today's joint session is expected to be largely a formality. no relief for the sierra, nevada, as forecasters are warning more snow is on the way. a system is bringing snow to the region that closed yosemite over the weekend. they have received as much as seven feet of ow.sn >> seven feet? >> yeah. >> unbelievable. thank you. thank you. >>> just ahead o [car trunk slammed shut] for 88 years, morgan stanley has offered clients determination and forward thinking to create the future... crowd: stop it! ...only you can see. american announcer: rose, back in the winner's circle. [crowd cheers] [music out] ♪ you were always so dedicated... ♪ we worked hard to build up the shop,

i'm pippa stevens with your cnbc news update.ues off the gaza coast today on a jetty to receive humanitarian aid. in a video posted on x, world central kitchen founder jose andres said they hoped the dock would be ready to receive supplies, but recent bad weather delayed it. ngo open arms said this was the first ship to arrive and another ready to set sail from cyprus. >>> lyft and uber plan to shut down operations in minneapolis starting in may. the news of the stoppage came as the city's council pushed through a measure that requires a minimum wage of nearly $16 per hour for drivers. lyft and uber said prices would double if they stay, and thousands of people would be out of work if they leave. >>> three-time nfl defensive player of the year aaron donald will retire from the game. he shared the news today, after spending all ten years in the league with the los angeles rams, playing a mayor role in their defense in a super bowl victory in 2021. >> one of the great players. next stop, canton ohio, the hall of fame. thank you ver

elon musk is firing back our pippa stevens is here with that story o every to you. >> good morning, franki is hitting back at elon musk, releasing emails from as far back as 2015 to show that the tesla boss originally supported a plan to create a for-profit entity and raise a billion dollars by partnering with about a already established tech giant two decisions were shown it alleges there was a breach of an agreement with an agreement with microsoft members of openai including sam brockman and others indicated it was musk himself who spearheaded efforts to raise billions to attach to a cash cow like tesla all to keep up with who musk saw as the biggest leader in ai at the time, of course, google. in an email dated december 26th 20rks 18, musk told his fellow co-founders, my profound assessment of openai, a deepmind without a dramatic change in execution and resources is zero percent, not 1%. i wish it were otherwise even raising several hundred million won't be enough. this needs billions per year immediately or forget it the team saying they're sad. it's come to this, someone they deepl

pippa stevens joins us here with more. things from you. >> this comes down from the nuclear renaissance we are seeing pushed up spot prices of yur yum, causing miners to restart plants that had been idled. prices collapsed in 2011 after the fukushima disaster meaning only the lowest krost uranium in australia and canada could still be profitably mined. now they are betting that prices will stay elevated. they are restarting in wyoming, texas and utah. total volumes will still be well below the hay day when the u.s. produced more than 44 million pounds. meaning the u.s. will still be dependent on foreign suppliers. now, canada and kazakhstan each supply one quarter of u.s. uranium followed by russia nuclear power is 20% of the u.s. grid. even though russian uranium hasn't been sanctioned due to their outsized role in the industry, utilities are scrambling to secure other and more reliable sources. the ura and urnn both pulled back recently, but those two funds tracked the space and gained a lot of attention recently. >> i u

pippa stevens is here to explain the divergence. >> you wouldn't necessarily think that based on theve seen as well as lots of talk around the impact of higher rates but in 2023 u.s. solar installations hit a record 234 gigawatts enough to power 9.5 million homes up 51% from 2022 as residential and commercial and utility scale posted record numbers during the first full year of the inflation reduction act, which co-author of the report said is, quote, super charging solar deployment. that said, some of 2023's growth was thanks to previously delayed projects coming online as well as a pull forward in california residential demand ahead of the key policy change and this year the industry is forecast to grow, but not at the same rate thanks to several uncertainties including, of course, the he election as well as interconnection delays, permitting challenges and higher interest rates. rates have hit the residential side hard which we started to see last year and that does line up with commentary we heard during earnings which is that rezi is more challenged than the larger utility scale

pippa stevens is here with what that means for investors. >> we have seen a record year of consolidationure inventory. they are looking for the best undrilled resources so they can grow, maintain, maybe grow the production looking forward amid concerns about peek shale. that has led to a lot of consolidation and by far the most important oil. and this shows how large the largest players have become. exxon and pioneer are the biggest driller followed by chevron, diamond back and endeavor, as well as crown rock. looking forward, more than 60% of the remaining drilling resources in the permian are are owned by just the six players. what that means is that ever core si has talked about the theme of winner takes all within the global upstream sector. average market cap has about doubled over the last decade for the s & p energy constituents while the number of companies in the sector has all but cut in half. that is an extreme concentration with exxon and chevron making up 43% of the overall market cap. we have to remember that energy has been out of favor so it is hard to attract new money i

. >> megan, stick around as we bring in our own pippa stevens to help react to this. >> i think the cruxion is trying to have as much renewable energy developed a quickly as possible while also jump starting a u.s. domestic supply chain. this is challenging because china is by far the leader here. they control more than 80% of the solar supply chain. by some estimates they've invested heavily to be the leader in solar and batteries. lithium retrain refining. solar cells manufactured in china are about 50% cheaper than those in europe and 65% cheaper than those in the u.s. so there's no question it's hard to compete. on the other hand the inflation reduction act is making a big stride there. we've seen announcements of factories. the reality is these things take time and right now china is the leader an they are sending a lot more product into the channel. >> so megan, how did this company come back from the ropes the company you're at? they got financing through the inflation reduction act. what makes them think now given the sort of dynamics of the market place that they can make a go o

pippa stevens is in houston for us. >> hey, it's a fitting time to be here because oil prices are the level since november. they are now in the sweet spot range between 80 and $85 level where companies are still making a whole lot of money. not too much money to draw the ire of washington and they are also not high enough yet to kill demand. so, this latest leg is thanks to ukraine stepping up its attacks on russian infrastructure which led morgan stanley to raise its q3 target to $90 today. that's on the supply side. on the demand side we heard from exxon ceo darren woods who said demand is very, very healthy. despite some challenges on the global macroeconomic front, in other words saying, we are not at this oil peak demand that people have been talking about for a very long time. that speaks to one of the key themes at the conference which is a multidimensional energy transition. for a long time oil and gas companies were left out of the conversation but now they are saying, hey, you need us. we have the balance sheet. we have the spending and the know-how to meaningfully participa

. >>> pippa stevens was at the conference and she's back to recap it. >> this is the most important energy it unites all the key stakeholders, and no surprise here, but ai was top of mind in basically every single panel, every single conversation specifically around the power demand it's going to take. now remember low growth or the, you know, the growth in demand on the grid has been essentially flat for years and years, and so these utilities plan very far in the future and not only do we have electrify occasion of everything, evs, and heat pumps, but now all of a sudden, almost out of left field, we have a huge surge in the need from data centers. that means the conversation is increasingly becoming an all of the above energy approach and kind of this understanding that we're not going to be able to get there with renewables alone, particularly for a data center. you need 24/7 baseline power. your only green option for that is nuclear. of course, we have batteries and renewables right now, but that won't get you the entire way. >> i was going to ask you. does this mean -- is this for nu

pippa stevens here with more. tell us which one it is. >> we're talking about the refiners.hon, phillips 66. all three hit another set of record highs today. all three of them not 52-week highs but all-time highs. so part of that is thanks to a dip in utilization rates. it's normal for utilization to drop during the winter. but we have a chart here when you can see that yellow line is 2024. so it is lower than in recent memory and at one point it had dropped below -- set a new five-year low. part is thanks to the outage of the bp whiting refinery in indiana as well as colder temperatures along the gulf coast. remember, they are about 50% of our refining capacity. they don't weatherize their units because they're not used to cold temperatures. some are running in excess of 700 degrees. so when it's cold outside, you have to pair back your operations. so that, of course, is pushing up prices at the pump as we're all aware. the national average is 3.39 that's up 28 cents this year. now we're heading into the summer driving season. so one thing to watch there. and the refiners c

. >> pippa stevens with the latest. >>> new competition is merging with the weight loss space. experiment treatment is now being held as best in class on wall street. our next guest will give us the skinny on that stock with power lunch when it returns after this. ♪ i am, i cried ♪ [ laughing ] ♪ i am, said i ♪ ♪ and i am lost and i can't ♪ punch buggy red. ♪ even say why ♪ ♪ i am, i said ♪ ♪ ♪ rylee! from rylee's realty! hi! this listing sounds incredible. let's check it out. says here it gets plenty of light. and this must be the ocean view? of aruba? huh. this listing is misleading. well, when at&t says we give businesses get our best deal, on the iphone 15 pro made with titanium. we mean it. amazing. all my agents want it. says here...“inviting pool”. come on over! too inviting. only at&t gives businesses our best deals on any iphone. get iphone 15 pro on us. (♪♪) i'm jack black. get tickets right now for kung fu panda. get iphone 15 pro on us. you don't have time for a drum solo. get tickets! [ screaming ] get tick

. >>> over to the headlines with pippa stevens. >>> if iran sells ballistic muscles to russia for the war in ukraine, the response from the international community will be swift and severe. that from a senior administration official to nbc news today as the g-7 countries issue a warning to tehran. the new sanctions will be imposed if it happens. one of them being considered, banning iran air from flying to europe. the official does say the administration has not yet seen confirmation of any missiles on the move. 80,000 muslim worshippers attended the first friday prayers of the holy month of ramadan as the war's shadow loomed over. police stepped up surveillance in the old city heading into the mosque, one of the holiest sites in islam. >>> and alec baldwin has asked a new mexico judge to dismiss charges of involuntary manslaughter in the "rust" movie shooting. the motion alleges prosecutorial misconduct. his trial over the death of cinematographer halyna hutchins is scheduled for july in santa fe. courtney, back to you. >> pippa, thank you very much. >>> up next, our "call of the day

pippa stevens is here with more. about it >> everyone is always blaming the weather for all of their problems but this time it really is about the weather. specifically climate change. cocoa production is very concentrated in west africa, with 3/4 of world output changing weathers patterns are causing diseases and impacting the soil leading to another poor harvest. the international folko organization forecasts an 11% year over year drop in production for a third straight year of shortfalls the result is cocoa surging above $10,000 per metric ton for the first time ever. earlier today more than doubling this year and tripling over the last year as these supply issues weigh. now, this is a very small market and is not widely traded, meaning it is vulnerable to price swings driven by financial players and speculators. and some of the largest chocolate companies like hershey and mondelez typically have hedging strategies in place to manage these swings, but higher costs will likely be passed along to consumers and in te

pippa stevens has more. >> we're talking about the refiners.d highs today, outperforming the broader energy complex. fuel demand has remained study, while refinery utilization has pulled back, which has lifted product prices and therefore refiners margins. ahead of the spring and summer driving season, gasoline futures are already up nearly 30% this year. the widely followed 3-2-1 crack spread has come down sharply, but it's still over $20, which, again, was called phenomenal, noting they were in the single di digits and sometimes even negative. ukraine has targeted russian refineries in recent days, and morgan stanley pointed to an extended upcycle for the current players. >> pippa, thank you. >> great work. >> does her work. >> listen, i remember when paul came on this show -- >> yeah. >> i think it was early 2022, early, and he mention ed marathon. $65 stock. and i started looking at it. and it made sense what he said. look at it now. all-time high. phillips 66 we've known about. all-time high. valero, absolutely the sweet spot. so, these st

pippa stevens has more. >>> a filing today, to trade under the ticker for ibotta, ibta.lmart. back in november, there were reports it was valued at as much as $2 billion. goldman, citi and bank of america are handling the ipo. mike? >> all right. i guess the window is open, pippa, thank you. >>> the dow pulling back from the record high. still heading for its best week of the year though. the major averages all on track for healthy gains there week. following wednesday's fomc meeting. chair powell reassuring investors that rate cuts are likely on the way. joining me now to discuss is robert kaplan, former dallas fed president. he is also former vice chair at goldman sachs. robert, great to see you. it's interesting the market had a net positive reaction, considering that the statement and message were almost identical to what we saw last time, right? so in other words, not much change in the fed's stance. it feels as if policy makers are wanting to make use of the luxury of time to maybe allow inflation to get a little bit better. but what did you pull out of what chair

i'm pippa stevens. decline with nvidia moving between gains and losses following 6% drop at the end of last week. its worst day in nearly a year. cantor fitzgerald raising its target on the stock saying the software opportunity is only in the first inning. morgan stanley also reiterating its overweight on nvidia. netflix in the green as "oppenheimer" takes its target to 725, implying 20% upside from here, pointing to continued tailwinds to subscribers from paid sharing and advertising. that stock is hovering near 52-week high, sti still down from 2021 all-time high. apple and tesla bouncing back, although down in the last month as china demand continues to weigh on apple as demand for evs slow, tesla aroundts i lowest level in yearly a year. back in two minutes. investment opportunities are everywhere you turn. but at t. rowe price, we're letting curiosity light the way. asking smart questions about opportunities like advances in healthcare. and how these innovations will create a healthier world tomorr

. >>> welcome back i'm pippa stevens with your news update.ing for the six construction workers still missing after the francis scott key bridge collapsed just before 1:30 tuesday morning. the national transport safety board chief plans to go aboard the cargo ship with a team of investigators today as part of the probe into the dy isdisaster in georgia, lawyers for the three white men convicted of killing arbery arguing past statements didn't convey a racist intent to harm him. they were charged with chasing him through streets before one of them shot him. >>> and richard serra died at his home on tuesday. he was known for turning curving walls of rusting steel and other materials in large pieces dotted around the world he was 85 years old. >>> a sharp uptick in data center demand is causing a strain on the energy grid. eqt, one of the largest supplies of nat gas in the u.s. toby, good to have you here. a lot written how finding new energy is the number one obsession of big tech. is there a grid crisis in this country? >> well, this is somethi

. >>> one area of the energy complex outperforming, hitting new highs, pippa stevens is tracking them> talking about the refiners hitting another round of record highs this morning. before just now going negative. still outperforming other areas of the energy complex. fuel demand has remained steady while refinery utilization has pulled back, which has lifted product prices and, therefore, refiners' margins. as we move into the spring and summer driving season, gasoline futures are already up nearly 30% this year. the widely followed 3-2-1 crack spread is over $20 which john kildoff called phenomenal. in recent days ukraine has targeted russian refiners which could further tighten the global market which is already feeling the impact of higher transport costs. in the u.s. capacity has declined in recent years as facilities close or retrofitted and no plans for big u.s. refineries with morgan stanley listing updated cycles. >> thank you. >>> taking a look at the broader market, we are down on the s&p by some 0.3%. big four of the mega caps, apple, alphabet, amazon and microsoft helping

i'm pippa stevens with your cnbc news update.animous ruling that donald trump could not be kicked off colorado's 2024 ballot, the former president posted a message on truth social simply saying a big win for america. the decision ended the legal fight over whether states could bar trump from their ballots based on his actions leading up to the january 6th capitol rhetts. the manhattan district attorney's office says former chief financial officer allen weisselberger surrounded this morning to face new charge. sources tell nbc news weisselberg will plead guilty today to several perjury charge in connection with the testimony he gave during former president donald trump's civil fraud trial. >>> and vice president kamala harris is set to meet with the israeli war cabinet member benny gantz at the white house today. she is expected to deliver a blunt message after calling for an immediate cease-fire in gaza on sunday and criticizing israel for not doing enough to allow aid in to the territory. david, back to you. >>> all right. thank

i'm pippa stevens.ton county district attorney fani willis can remain on donald trump's georgia election interference case with one condition, the special prosecutor who she was accused of having an inappropriate relationship with has to go. the judge also found there was no actual conflict brought about by willis relationship with nathan wade, a finding that would have required willis to be disqualified. >>> an aid ship carrying 100 tons of food reached the gaza coast today. the world's central kitchen aims to deliver the aid on a temporary jetty and the charity is loading a second ship with food and supplies in cyprus. >>> the national association of realtors agreed to settle a series of lawsuits paying $418 million in damages and eliminating its rule on commissions. that's according to the "new york times." the deal still needs a federal court's approval. it would put an end to legal claims from home sellers who argued the 6% sales commission forced them to pay excessive fees. sara, back to you. >> t