with kelly evans, i'm tyler mathisen we're having a big market day right now.ill see, by about 1% on the dow, but it was worse earlier. roughly 1% declines, as well, for the s&p 500 and nasdaq. >> yeah, once again, we're watching the regionalen banks they're getting crushed again. the first public rescue is not stopping the slide >>> also, oil down nearly 5% hurt in part by the likelihood of another fed rate hike tomorrow we'll hit the market-moving stories. >>> first, the latest leg of the bank slide leslie >> hey, kel, regional banks in focus again as the market digested the fallout of the first republic failure and sale to jpmorgan. down a little more than 6% co a coamerica, western alliance, zions and keycorp leading the downs today. it is the real estate exposure, level of uninsured deposits, various factors and variables causing them to sell-off the bearish thesis

alongside kell and literally she was right here a second ago, i was really alongside her i'm tyler mathisen a very big event at this hour out in california and lots of breaking news within the past hour. we'll bring it to you, and we'll ask whether the company can catch up after a somewhat halting start in the chatbot race >>> plus, the covid-19 emergency ends tomorrow as far as the

now over to tyler mathisen for our news update. >> thank you very much russia is responding to a video cia's youtube page, aimed at recruiting russian spies. the video offered russians a secure way to communicate with the cia, and promised protection if they share secrets about the ukraine war and other information. the kremlin says special services were monitoring it, and it's not surprised by western intelligence activity in their country. >>> european union states approved the world's first comprehensive set of rules to regulate crypto assets, rules that require firms that want to issue trade and safeguard crypto assets in the block to attain a license. those rules are expected to roll out in 2024, putting the eu ahead of the u.s. in regulating crypto >>> and the philadelphia 76ers have fired head coach doc ric -- doc rivers today after the team lost to the postceltics in the nba playoffs on sunday rivers has not gotten past the second round of playoffs in three seasons with the sixers and he had a 3-2 lead in that series >> brutal. i think every coach who has won a championship in

alongside kelly evans, i'm tyler mathisen here's what's new at 2:00. the federal focus, whether it is the federal reserve's mission to hike rates until inflation is curbed or the growing likelihood of a total federal government shutdown, it might be time to accept the reality that washington's shadow is cast over wall street and it is there to stay we have former new orleans mayor marc morial, to weigh in today as rates continue to climb, are some millennials losing hope in the housing market a new report from b of a shows they expect to pay even more for homes down the line. and the market could have far reaching consequences, we'll speak to the analyst behind that report >> looking forward to that, tyler, thank you hi, everybody. on the market front, look at the dow up 460 points, that's close to session highs, driven by the previously mentioned jobs report s&p up to 41.29. nasdaq up more than 2% now the banks rebounding today check out some of the regional names led higher by pacwest surging 85%. that puts it at almost $6 a share now. western allian

alongside kelly, i'm tyler mathisen president biden and speaker mccarthy expected to meet for what was a productive call i think 5:30 was the date and time mccarthy said the sides are still far apart. can a deal get done in time and what is the real deadline. >>> plus, is artificial intelligence raising an artificial stockmarket rally couldthis reverse just as quickly as it began? kelly. >> hi, everybody first let's get a check on the markets. very similar to what we've been watching all day long. the dow down a third of a percent, 109, the s&p, a hair below 4200 and the nasdaq composite up a half a percent news from the second hottest area of the market if ai is number one weight loss drugs. pfizer shares popping midday after a study says its oral weight loss drug works more quickly than the injectable. shares of nordisk were lower, now up fraction aulie. >>> micron says the company poses a major security risk. we're seeing a 3% decline. we'll have more on that coming up. >>> thank you. we start with the debt ceiling drama. president biden set to speak with house speaker mccarthy 5:30

i'm dominic chew alongside with kelly evans filling in for tyler mathisen we are watching everything going on in the regional bank. pacwest, western alliance getting absolutely crushed pacwest says it's weighing a possible sale at least sale of assets western alliance says it is not, absolutely not, kel. >> both of those stocks down big as you can see apple down fractionally. we'll get you ready for the big report as we take a look at the broader markets which despite the turmoil, it's moved off the low. >> we were down 40 points and we're down 20 points now let's get right into the latest leg of this banking crisis joining us now is leslie picker. leslie, i think what's the state of play is the best question because at this point there are so many statements which is, i guess, good that these banks are getting out on the record and saying something >> yeah, it's definitely welcome for reporters like us. western alliance is off the lows but steeply lower after putting out a statement saying it's not for sale it hasn't hired advisers and an ft report suggesting otherwise is false pacw

. >>> i'm tyler mathisen glad to have you with us coming up the strength of the consumer retail earningse picture but former fed chair ben bernanke says a soft landing in the economy is still very possible plus the view from the c suite cnbc gathering business leaders for a ceo summit in california we'll talk with the ceo of crocs about all the issues everybody's talking about. debt ceiling, economy, dealing with china and trade and more. kelly. >> looking forward to that hi, everybody. first let's get a check of the markets which have turned a little bit more negative in the la

alongside contessa brewer, i'm tyler mathisen coming up, president biden's busy weekend he is meetingna and more negotiations on the debt ceiling reportedly stalling. plus, retail's big shrink problem, left. hitting the bottom line big-time it is not kids' shoplifting stuff. it i

alongside kelly evans, across the room from kelly evans, i'm tyler mathisen everybody is talking about ai. its impact on society and the markets. seven stocks driving the gains, most of them knee deep in the ai boom plus, retail results coming in we heard from walmart, target, which is the better buy right now? sounds like the recipe for a bullfight. >> indeed, indeed. just wait, everybody quick check on the markets, tyler thank you. mixed picture, dow near session lows the s&p 500 hanging on to a two-point gain, 4161 the nasdaq up .6%. the nasdaq highest level since august, absolutely worth bearing in mind that these gains have taken us to some potentially significant levels and ai optimism is a big reason for that a lot of ai in tech news to talk about today. steve kovach in the house, julia boorstin as well from now on,s sit is always a perfect week, but so much to get to let's start with deirdre bosa to break down the latest news we're getting. >> it doesn't stop just an hour ago, open ai said it is introducing chatgpt app to ios and iphones and that will open the door to more user

i'm tyler mathisen jp morgan buying first republic.ig banks getting betigger, is that a good thing? we'll debate it. >>> new mortgage fees, we'll separate the fiction from the facts. >>> norwegian reporting strong demand and pricing for this year and next is the stock finally a buy we'll get to all of that >>> kelly, over to you for a check on the markets. >> thank you, tyler. hi, everybody. the dow is up 71 points. s&p at 4181. nasdaq has gone positive by 42 as well. jp morgan higher, one of the best banks today after rescuing first republic it's kind of muted it's come off the highs a little bit. pnc did not get the bank that stock is moving lower >>> gm is rising adam jonas is 38 it's a 33 right now. the company cutting hundreds of jobs in product development. shares are up less than 2% >>> norwegian, strong earnings look at the five-year stock chart. nowhere near prepandemic levels. it's at 14 and change today. >> thanks a lot. >>> we begin with first republic jp morgan chase acquiring all its deposits and a majority of its assets

alongside kelly evans, across the room from kelly evans, i'm tyler mathisen everybody is talking aboutts. seven stocks driving the gains, most of them knee deep in the ai boom plus, retail results coming in we heard from walmart, target, which is the better buy right now? sounds like the recipe for a bullfight. >> indeed, indeed. just wait, everybody quick check on the markets, tyler thank you. mixed picture, dow near session lows the s&p 500 hanging on to a two-point gain, 4161 the nasdaq up .6%. the nasdaq highest level since august, absolutely worth bearing in mind that

let's get to tyler mathisen for our cnbc news update >> thank you very much here is your cnbc news updatete the supreme court declined to block an illinois law that bans assault style weapons. the legislature enacted the measure in the wake of a july 4th shooting last year that killed seven people. the ban does not affect people who already own firearms impacted by the ban. >>> eight people killed and thousands evacuated as flooding struck a northern region of italy. this prompted officials to call for a national plan to combat climate change induced flooding. formula 1 captured this weekend's grand prix to avoid the extra burden on emergency crews. >>> house republicans are expected to send a resolution to expel congressman george santos. they will vote this evening. the ethics committee may defer this to the justice department, which indicted santos last week on 13 counts, including wire fraud, money laundering, and stealing public funds. kelly, back to you >> tyler, thank you. >>> still ahead, elon musk railing against the notion of work from home in his interview last night on cnbc >>

alongside kelly evans who is just over there, i'm tyler mathisen coming up today, it is a merger monday several big deals happening today, is it a sign that corporate america is getting ready for an economic recovery down the road, buying low in hopes that values go higher? >>> commercial real estate called the next shoe to drop we'll talk to a big cre investor about what he's seeing in office retail and residential >>> we'll dive through it. hi, everybody. i'm over here checking on the markets where the dow turned negative again it was positive about the last hour, down five points by the way it's down for about the eighth day out of nine while the s&p is up 7 points today, 4131 and the nasdaq up half a percent. we've seen considerable energy, mining deal. we'll start with the energy. one my magellan it's a $14 billion cash and debt deal one oak shares down. this would be the biggest deal of the year so far dan pickering thinks it will be a slow cycle but activity will pick up. newmont buying newcrest for $17.5 billion. it's the biggest gold deal and a copper play. we've seen shares up

alongside kelly evans, i'm tyler mathisen here's what's new at 2:00. hike rates until inflation is curbed or the growing likelihood of a total federal government shutdown, it might be time to accept the reality that washington's shadow is cast over wall street and it is there to stay we have former new orleans mayor marc morial, to weigh in today as rates continue to climb, are some millennials losing hope in the housin

alongside kelly, i'm tyler mathisen president biden and speaker mccarthy expected to meet for what washy said the sides are still far apart. can a deal get done in time and what is the real deadline. >>> plus, is artificial intelligence raising an artificial stockmarket rally couldthis reverse just as quickly as it began? kelly. >> hi, everybody first let's get a check on the markets. very similar to what we've been watching all day long. the dow down a third of a percent, 109, the s&p, a hair below 4200 and th

alongside kell and literally she was right here a second ago, i was really alongside her i'm tyler mathisene to "power lunch. google is holding a very big event at this hour out in california and lots of breaking news within the past hour. we'll bring it to you, and we'll ask whether the company can catch up after a somewhat halting start in the chatbot race >>> plus, the covid-19 emergency ends tomorrow as far as the federal government is concerned, and we'll talk about what that means along with other health topics with dr. >> kelly i'm over here now. hi, everybody. thanks, tyler. let's get a check of the markets. dow off session lows down 240 points, were briefly down more than 300 s&p down 7 and hanging on 2409100 mark, and the nasdaq is still up nicely, .4% big tech and alphabet one of the reasons y.check out the names moving on earnings upstart absolutely soaring up 53% this week and car guru up 20% and car vrana up and take and go back the last couple of years, numbers not as good upstart 78% off its two year high sticking with the auto theme, auto zone and o'reilly both hitting all-

alongside contessa brewer, i'm tyler mathisen coming up, president biden's busy weekend he is meeting with g7 leaders on russia, china and more negotiations on the debt ceiling reportedly stalling. plus, retail's big shrink problem, left. hitting the bottom line big-time it is not kids' shoplifting stuff. it is organized crime. >>> stocks turn lower after the reports about the debt ceiling talks. all three major averaging are still posting gains for the week look, we're all off, down about a third to a half a percent on the dow industrials. foot locker losing a quarter of its value. it said sales have slowed. it has to provide discounts to clear inventory, and that's dragging on other sports apparel names, including nike. look at under armour down 5%. dick's sporting goods 6% vf corp. down 19%. >>> growing tensions here and abroad the debt ceiling talks stalling once again you had to admit you thought there would be a snag. all while global leaders meet to discuss issues surrounding china and russia and more. kayla covering both of those stories for us kayla, let's start with where th

i'm tyler mathisen jp morgan buying first republic.s that a good thing? we'll debate it. >>> new mortgage fees, we'll separate t

." >> thank you very much hi, i'm kelly evans and tyler mathisen welcome to the fed edition of "the exchangewe enter the countdown. it comes as the regional banks rebound for now, but we've been here before and the fallout from the bank turmoil seems far from over what fed decides today could seal the degree of pain yet to come. >> and we have all the angles covered from the stock market to the bond market to the economy, and how rising interest rates will impact consumers like

i'm dominic chew alongside with kelly evans filling in for tyler mathisen we are watching everythingnk. pacwest, western alliance getting absolutely crushed pacwest says it's weighing a possible sale at least sale of assets western alliance says it is not, absolutely not, kel. >> both of those stocks down big as you can see apple down fractionally. we'll get you ready for the big report as we take a look at the broader markets which despite the turmoil, it's moved off the low. >> we were down 40 points and we're down 20 points now let's get right into the latest leg of this banking crisis joining us now is leslie picker. leslie, i think what's the state

. >>> i'm tyler mathisen glad to have you with us coming up the strength of the consumer retail earningsreports creating a bit of a worrisome picture but former fed chair ben bernanke says a soft landing in the economy is still very possible plus the view from the c suite cnbc gathering business leaders for a ceo summit in california we'll talk with the ceo of crocs about all the issues everybody's talking about. debt ceiling, economy, dealing with china and trade and more. kelly. >> looking forward to that hi, everybody. first let's get a check of the markets which have turned a little bit more negative in the last 30, 45 minutes or so but the dow's down still less than 100 points the s&p is down 3/4 of a percent at 4162 and the nasdaq a little worse than that. it's quiet on the regional bank front, though. pac west jumping western alliance higher. comerica, zion's in the grebe west alliance is slightly lower i should say and we're also seeing continued gains in some momentum names, palantir, carvana sxwrup start which had been on a monster move but is actually now down 2 1/2% carvana u

." >> thank you very much hi, i'm kelly evans and tyler mathisen welcome to the fed edition of "the exchange," we're live in washington, d.c., as we enter the countdown. it comes as the regional banks rebound for now, but we've been here before and the fallout from the bank turmoil seems far from over what fed decides today could seal the degree of pain yet to come. >> and we have all the angles covered from the stock market to the bond market to the economy, and how rising interest rates will impact consumers like you plus, senators john kennedy and elizabeth warren will be here in the next 90 minutes to weigh in on the fed, the banks, and the big debt ceiling shutdown. >> before that, let's get today's markets with about an hour before that decision. dominic chu live at the new york stock exchange hi. >> kelly tish, tyler, i will teu it's a tepid market but not unsurprising in the fact we have a major catalyst in the fed rate decision for the time being we are seeing general positivity it had been mixed in the session but not much up or down. generally speaking we're kind of tilting toward

alongside kelly evans who is just over there, i'm tyler mathisen coming up today, it is a merger monday corporate america is getting ready for an economic recovery down the road, buying low in hopes that values go higher? >>> commercial real estate called the next shoe to drop we'll talk to a big cre investor about what he's seeing in office retail and residential >>> we'll dive through it. hi, everybody. i'm over here checking on the markets where the dow turned negative again it was positive abouth

>>> alongside kelly evans i'm tyler mathisen coming up the intersection of washington and wall street senate hearings today on what went wrong at silicon valley bank and what could go wrong with artificial intelligence plus the ftc flexing its muscles again suing to block a major pharma merger. plus a big interview coming up on cnbc later today. david faber sitting down with elon musk after the company's shareholder meeting. we'll get you ready for that, kelly, plus a lot more >> very much looking forward to it, tyler. thanks hi there let's get a check on the markets. the dow's down 223 points right now. the s&p down 9 to 4126 the dow still 30 points below its break even for the year. so it's in the red as of this moment the nasdaq still up a quarter of a percent helped by gains once again in nvidia and some of the other semi stocks. amd. home depot after earnings and disappointing guidance, shares only down 1 1/2% right now still down about 10% year to date and check out etsy falling after morgan stanley cut its price target saying it will be hard for etsy to grow sales and profit ma