i'm tyler mathisen. here is your update at this hour.f miami is suspending his campaign for president. suarez is the first primary candidate to drop out of the race. the decision comes less than a week after his campaign failed to qualify for the milwaukee primary debate on the gop side. >>> the justice department today announced the takedown of a malware platform called quack bot. investigators say it deployed ransom ware that caused hundreds of millions in damage with more than 700,000 victims around the world. researchers say they believe the hacking network originated in russia. >>> and a 127-year-old new york water main broke under times square, flooding subway stations and streets there. the state's department of environmental protection said crews found the source of the leak in an hour and shut the water off. three subway lines were suspended and the intersection closed to automobile traffic. >> tyler, thank you. >>> coming up, home prices are back to last summer's levels almost. but will further rate hikes derail their momentum?

i'm tyler mathisen.tocks, that is the setup for the markets right now. how worried should investors be about those rising rates an the impact on stocks in particular. plus, instacart reportedly planning to go public as soon as next month. arm holdings in the pipeline. will the ipo market finally unfreeze? >> perhaps. let's get a check on the markets ife

seema, thank you very much we appreciate it >>> we turn to tyler mathisen now for a cnbc news update federal courts do not allow cameras in the courtroom, but house democrats want to change that with president trump. they are asking to allow them during his trials because of the importance to democratic institutions and the need for transparency >>> meantime, two tennessee democrats won back their seats thursday night after being expelled by republicans in april for protesting in support of gun safety both lawmakers were reinstated by a local government official after their expulsion, but they had to run for their old seats a special legislative session was called to address gun reform >>> the centers for disease control voted to recommend an infant rsv shot. babies up to 8 months old entering their first virus season or infants 8 to 19 months old who are at high risk it delivers antibodies to the blood stream directly and should be available in the fall kelly, back to you >>> tyler, thanks. coming up, wall street seems torn on figs but head winds could worsen when tso ameloan paymen

i'm tyler mathisen with your cnbc news update. former president trump and all 18 co-defendants have met the noon deadline today to surrender to authorities in fulton county, georgia. all but one were released on bond after being booked. one of the defendants spent the night in jail because he didn't negotiate his bond agreement ahead of time. bet he regrets that. or she. heineken announced it's selling its business in russia for just one euro. the company is selling to the russian manufacturer arnest group and will lose around $325 million. the dutch brewer announced its plan to withdraw from the company last year after moscow invaded ukraine, but heineken was slow to exit. the company said it was trying to look after local employees. >>> and starbucks confirms it's looking at scanless pay, which is a contactless check-out method. it can identify a starbucks app user's current location when they're in the drive-thru lane. the experience is currently being tested with employees. kelly, back to you. >> scanless pay that can i.d. you

i'm tyler mathisen.ig time following a warning kid how bad could the ripple effects turned out to be, not just in china, but perhaps across the pacific and globally. >>> someone once said there's no such thing as bad publicity that person was not talking about david sullivan after a series of unflattering articles. how much longer can he hold onto his job? >>> let's get a check on the market that the dow remains down 21 points, while the s&p and nasdaq, nasdaq three quarters of a percent after two straight down weeks,

in for kelly evans, i'm tyler mat mathisen a tail of two retailers, target versus walmart what's driving divide and which one will likely come out on top in this big boxing match over consumer spending we' we will debate >>> and new clothes in this economy? we'll ask about the demand for thrifting, and what it's saying about the health of the consumer >>> waiting for the fed to flinch mike novogratz say it could be a boone for bitcoin. >>> we begin with today's action, and dom chu has the numbers and more >> trying to bounce back from some of the string of losses we have seen, although it hasn't been dramatic. if you look at the dow industrials, we're just about flat on the session, up seven points on a 34,770 basis for the dow industrials. so flat on the session the s&p is holding above the 4400 mark. 4410, up 6.5%, about 0.2%, 1/5th of the market in terms of basis points if you look at the s&p, at the highs of the session, we were up 17, down 8 at the lows so nothing mayor in terms of movement, but we're still drifting a little bit down trend wise from what we have seen the markets ove

i am alongside kelly evans i'm tyler mathisen we're glad you could join us today. two huge stories to talk about the fed's big meeting at jackson hole, which seems to be weighing on the markets right now, or at least that's one interpretation. let's start with nvidia's blow-out quarter the stock higher today, though off its best levels of the session and down from where it was after hours late yesterday afternoon. for more on that let's bring in kristina partsinevelos christina? >>> if you're a cnbc viewer you know nvidia's numbers blew past expectations you have two reasons for that. first, roughly a 2% jump in the last three months, opened at a record high this morning those who wanted in got in as goldman sachs points out, there has been limited institutional demand after hours yesterday and today. last quarter you had all the big hedge funds scrambling to add exposure those who wanted in got in firms are racing to increase price targets and estimates which helps with the forward p/e ratio, a great barometer on nvidia's future growth it's around 56 times right n

i'm tyler mathisen. china's real estate sector, selling off big time following a warning kid how bad could the ripple effects turned out to be, not just in china, but perhaps across the pacific and globally. >>> someone once said there's no such thing as bad publicity that person was not talking about david sullivan after a series of unflattering articles. how much longer can he hold onto his job? >>> let's get a check on the market that the dow remains down 21 points, while the s&p and nasdaq, nasdaq three quarters of a percent after two straight down weeks, and nvidia is a big reason why, bouncing back, 6% today, more than 6% as this rally picks up. it's about 15% to drop off in the last month or so. we will have more on that in a moment. started the big deal if u.s. steel sewing 30%, even though it rejected the takeover offer from cleveland cliff. it's unusual to see that kind of move. whether this deal or a different one could be on the horizon for the original x, tyler. >>> stocks have been falling

( sfx: stock exchange bell ringing ) >>> welcome to "power lunch," alongside kelly evans i'm tyler mathisenspn diving head-first, finally, into sports betting inking a deal with penn entertainment ahead of much anticipated earnings from disney later this afternoo

i'm tyler mathisen in for kelly evans. the latest fed minutes out at the top of the hour.on it and don't focus on sectors right now, except for one. the brings the names and the stocks she likes in those sectors right now. >>> a double dose of ceos. first, a regional bank you're likely a client of jack henry's. that stock down 8% on the back

i'm tyler mathisen the federal grand jury that invited former president trump is meeting again todaysignal that the special investigation into trump's efforts to overturn the 2020 election could add more defendants soon. trump was charged with four felony counts last week and the indictments detailed the alleged co-conspirators played in the scheme there is speculation that some or all of them could be criminally charged, as well. >>> the biden administration can enforce regulations on ghost guns from the supreme court today in a 5-4 decision. the regulations are aimed at reigning in privately made firearms that are difficult for law enforcement to track the and americans are pulling money out of their 401(k) accounts at alarming rates because of financial distress bank of america reported that the number of people making hardship withdrawals during the second quarter was 36% the bank saw a dropoff in average contributions, kelly, to the accounts back to you. >> too bad tyler, i'll see you shortly. >>> coming up, eli lilly and norvo hit some record highs. we'll look at the impact the

i'm tyler mathisen, in for kelly evans. here's what is ahead on "the exchange." the latest round of economic data show signs of the cooling the fed has been hoping for. but that's not enough to convince our strategists that the u.s. can avoid a recession. why he says stocks are in a "jury duty market." we'll explain what that means and how he's positioning now. >>> and one step closer to a spot bitcoin etf, thanks to yesterday's federal court decision. in an interview, the chief officer of coinbase will tell us the impact on the company and the crypto industry more broadly. >>> plus, privacy, pets, and pricing. we'll tackle crowd strike, chewy, and dollar general in today's earnings exchange. but we begin with today's market action. and for that, we go to bob at the new york stock exchange. >> hello, tyler. up three days in a row because of goldilocks economic data. weaker jobs report, adp reported a little weaker. so not too weak. you got three days in a row, all three major indices up. nike is up, apple's up 5%, believe it or not. verizon's up. only consumer st

along side kelly evans i'm tyler mathisen. inflation too high said powell and fed ready to raise rates if needed. stocks higher. bonds on the move. dig into the whole story this hour. plus, nike on track to end its 11-session losing streak. is the worse over jer we'll ask an analyst who is still dullish. meanwhile, abercrombie and fitch soared. hear from an analyst skeptical. kelly? >> don't want to pile on the trends today. dow um almost 200 points leading way half percent gain. boeing outperforming. not strongest but a big point contradicter. s&p up one-third percent to 4392. nasdaq hanging on to a 50-point gain. all this against the backdrop of yields chopping around today in wake of comments from chair powell initially perceived as hawking, then a little dovish. and call it 4.237. ty? >> start with the main event out in jackson hole. earlier today fed chair powell's speech. he said that he's ready to raise interest rates if necessary to tame inflation, but admits there's still a lot of uncertainty. >> as is often the case,

alongside kelly evans, i'm tyler mathisen coming up, deals, deals, deals of the billions of dollars changing week s.deal-making back we'll take a look at that and the whys and where fors. conflict brewing in corporate america following the scotus decision on affirmative action at university. businesses may now be facing similar challenges conservative groups suing over

i'm tyler mathisen in for kelly evans. the latest fed minutes out at the top of the hour.estors are looking for any clues that rate cuts are coming. doubt they'll find any but our market guest says don't bet on it and don't focus on sectors right now, except for one. the brings the names and the stocks she likes in those sectors right now. >>> a double dose of ceos. first, a regional bank you're likely a client of jack henry's. that stock down 8% on the back of earnings. the coo will join us as questions over the health of that sector linger >>> as rates keep rising and mortgage demand keeps dropping, there's one housing name positioned to benefit from a rising rate environment. the ceo will join us ahead but we begin with the markets and bob is at the new york stock exchange we've been on a little tear lower the past few days, bob >> really the past two weeks so we've been trying to rally midday, that's a typical pattern. then we just move down late in the day. we were positive earlier in the day. take a look at the major indexes. the s&p is down 10 of the last 12 days. s

i'm tyler mathisen, in for kelly evans. here's what is ahead on "the exchange."s of the cooling the fed has been hoping for. but that's not enough to convince our strategists that the u.s. can avoid a recession. why he says stocks are in a "jury duty market." we'll explain what that means and how he's positioning now. >>> and one step closer to a spot bitcoin etf, thanks to yesterday's federal court decision. in a

i'm tyler mathisen contessa brewer joining me today. commerce secretary raymondo visits china at the real estate markets take another hit >> third trip from a cabinet member to china this summer, is anything getting accomplished? we'll explore that >> plus, a hedge fund defending itself from what it calls misinformation attacks by a disgruntled employee we'll dig into allegations, but also look at what might be an even bigger problem. that would be, contessa, its recent performance >> let's look at the markets up across the board. the nasdaq composite up 51 points or .3%. okay, 3m, a big contributor to the dow's gains after reaching a settlement on litigation related to ear plugs 3m shares up 5%. amgen, another dow stock in the news the ftc is suspending its challenge of the deal to buy horizon therapeutics it's off by a third of a percent, and horizon therapeutics up 5.5% >> the big story we're following today is gina hraimondo's visit to china secretary blinken went in june, secretary austin in july is this parade of u.s. cabinet memb

( sfx: stock exchange bell ringing ) >>> welcome to "power lunch," alongside kelly evans i'm tyler mathisen coming up we have media mania, some huge headlines in that space today. espn diving head-first, finally, into sports betting inking a deal with penn entertainment ahead of much anticipated earnings from disney later this afternoon. plus the business of back to school, rapidly approaching that time of year again, some school districts heading back maybe later this week, next week, and this fall students, parents and teachers are facing a wave of issues including inflation and artificial intelligence. we're going to take a dive into some of those issues over the next few days. kelly, take it away. >> it's more complicated going back to school than it used to be we're also getting more complicated trading where the markets continue to be unpressue nasdaq once again the underperformer down 101 at the moment some huge earnings moves to mention. roblox is plummeting 21% today, it's back below $30 a share, missed on the top and bottom lines, wider loss than expected. we will have more on tha

and welcome to "power lunch," i'm tyler mathisen along with contessa brewer. glad to have you here. today we're watching several stories at the intersection of business and politics. president biden about to speak about drug prices. the fdic plans to force banks to protect themselves. and the s.e.c. losing a court case and potentially clearing the way for a bitcoin etf. >> seeing a market reaction here. judge ruling in if favor of gray scale. that is soaring, the cryptocurrencies are up as well. checking on the broader markets now, the dow jones industrials. we're still looking at coin base, thanks. dow industrials are up about half a percent and the s&p 500 one and a third, and the nasdaq up one and a half. >>> let's start with the top story, president biden about to speak shortly on the first ten prescription drugs involved in price negotiations with medicare. the inflation reduction act, which was signed last year, lets medicare negotiate on prices for the first time ever. on the list are the most commonly prescribed drugs of all, including elquill, jardiance, all the companies a

good agreement for everyone that also provides security for their long term future >> this is tyler mathisene been speaking about the public charging stations and good to hear that there will be much more interoperability among them but what is gm doing to help or subsidize people who want quick charging capability at their home >> you know, we have opportunities with our gm energy from a quick charge perspective, we're working with companies, but really when you are at your home, i think a level two charger is probably most appropriate and you can schedule it to be charged wherever energy costs are low and do that out of the app on your phone associated with the vehicle and so we think that that is probably the best solution but we have partnerships with level two -- fast charging as well >> all right thank you very much. phil, thank you. mary, thank you. steve, we appreciate your time today everybody. >>> coming up, a semi snafu. intel scrapping its acquisition of tower after failing to get regulatory approval. we'll get the details. >>> intel hitting a snag in its plans to enter a faster

i'm tyler mathisen contessa brewer joining me today.the real estate markets take another hit >> third trip from a cabinet member to china this summer, is anything getting accomplished? we'll explore that >> plus, a hedge fund defending itself from what it calls misinformation attacks by a disgruntled employee we'll dig into

it looks like kelly evans, i'm tyler mathisen, the biggest econ event of the summer, that's the fed summit, annual jackson hole, wyoming, beautiful place. what to expect from chair powell as yields continue to soar. the ten-year at the highest level in 16 years. and as we break down the fed, we're also going to look at the impact they've had on businesses. we'll talk to the ceo of brinker international, big restaurant chain. what is chiles seeing on the inflation front? >> baby back ribs, that's what i always think of. let's get a check on the markets where the s&p is up 18 points. in light of those record highs that tyler mentioned the nasdaq is up 1.25% today. go figure. the dow is down 95 points, though, so that index remains in the red. check out shares of palo alto, by the way, soaring after its friday night surprise, the worst fears not realized for that stock. tons of people tune in to the conference call. you can hear the ceo a little bit later on today. a 15% bounce, and we're going to talk about this one a lot this week ahead of earnings, nvidia up today as hsbc raised its price

alongside courtney reagan i'm tyler mathisen glad you could join us on a thursday coming up, walmartsumers are hunting for bargains an inflation squeezes their wallets. the stock falling however even after the company topped results. walmart shoppers fear inflation, and how about the high-end consumer what about the high-end consumer we will talk to the heads of equinox and christie's to see how their customers' behavior has changed as inflation goes higher courtney >>> let's give you a check on the markets. stocks are lower here, but the dow jones industrial average is down just about a third of a per sent walmart, of course, is in that index. s&p 500 down .2 of a percent and the nasdaq pulling up the rear, about half a percent united health is weighing on the dow, one of several health cares hit by blue shield of california more on tie-up is coming up. as tyler mentioned, of course, walmart shares are trading lower despite beading on top and bottom line for second quarter the retailer raising its earnings forecast, fuelled by growth in grocery and online sales. earlier on "squawk o

i'm tyler mathisen. coming up soaring bond yields and falling stocks, that is the setup for the markets right now. how worried should investors be about those rising rates an the impact on stocks in particular. plus, instacart reportedly planning to go public as soon as next month. arm holdings in the pipeline. will the ipo market finally unfreeze? >> perhaps. let's get a check on the markets if we want to see about unfreeze pg. we have to see more green on the screen. we have six points but the s&p down 4 and the nasdaq down 40. all three averages are down more than 2% for the week. that's the larger trend here. shares of bloomin' brands are gaining as starboard has built a 9.9% stake in the company. the shares you're seeing popping about 6.5%. they're up 18% over the past year. and the stock you heard about everyone is talking about it, what are they going to say, palo alto networks, they're reporting after the bell, first time in three years an s&p 500 company has done that on a friday. pretty rare. t

i am alongside kelly evans i'm tyler mathisen we're glad you could join us today.ories to talk about the fed's big meeting at jackson hole, which seems to be weighing on the markets right now, or at least that's one interpretation. let's start with nvidia's blow-out quarter the stock higher today, though off its best levels of the session and down from where it was after hours late yesterday afternoon. for more on that let's bring in kristina partsinevelos christina? >>> if you're a cnbc viewer you know nvidia's numbers blew past expectations you have two reasons

alongside kelly evans, i'm tyler mathisen coming up, deals, deals, deals of the billions of dollars changing hands in corporate america this week s.deal-making back we'll take a look at that and the whys and where fors. conflict brewing in corporate america following the scotus decision on affirmative action at university. businesses may now be facing similar challenges conservative groups suing over diversity hiring we'll discuss that story in just a moment kelly? >> but, first, let's get a check on the markets and the etf has been focused as the smh has its worst week of the year the smh hit a new 52-woke high barely a month ago, and it's down 5% this week. marvel, micron and and mv the laggards some talk on the street around archer aviation, down 3% after soaring as much as 23% after settling a lawsuit with boeing over autonomous flying dispute it's actually down 6% now, a volatile response. the quantum computing hardware foam up about 12%, reporting a larger than expected loss but raising its guidance. >> we begin with a slew of big deals, tapestry acquiring capri for nearly $9 billion,

it looks like kelly evans, i'm tyler mathisen, the biggest econ event of the summer, that's the fed summitace. what to expect from chair powell as yields continue to soar. the ten-year at the highest level in 16 years. and as we break down the fed, we're also going to look at the impact they've had on businesses. we'll talk to the ceo of brinker international, big restaurant chain. what is chiles seeing on the inflation front? >> baby back ribs, that's what i always think of. let's get a check on the markets where the s&p is up 18 points. in light of those record highs that tyler mentioned the nasdaq is up 1.25% today. go figure.

i'm tyler mathisen with your cnbc news update russian state media reports that a small business jet crashed in flight from moscow to st. petersburg today according to the associated press, officials say all ten people on board were killed and that wagner mercenary chief yevgeny prigozhin was on the passenger list it is not clear whether he was on board nbc news has not independently confirmed the details. but it is possible that yevgeny prigozhin, the man who made a move against the kremlin, may have perished in a private jet crash. >>> the infamous yre festival relaunched and the first round of tickets already sold out. founder billy mcfarland has been released from jail after serving time for fraud and is bringing the festival back. no details or line-up release bud the location is set as, quote, the caribbean that's a pretty big place. the bahamas ministry of tourism said last year that the government will not approve any event associated with mr. mcfarland. >>> and starbucks is adding a third coffee drink to its fall menu line-up in a shocking twist it involves pumpkin spice. can you be

alongside kelly evans, i'm tyler mathisen coming up, a just right dobbs number even though it came in short of the estimate, markets are saying it is enough to keep the economy out of recession and the fed may be on the sidelines. the other bit of news boosting stocks today, strong earnings from amazon, especially in the cloud business we'll dig in to those results. >> thanks. checking the markets right now the dow is up 136. the s&p up 14. these are about a third of a percent. about half the gains we saw earlier on, while the nasdaq is hanging on to its rise, and it's been leading the pack all day. as tyler mentioned, check out amazon up 10%, nearly $150 billion in market cap added after its earnings report last night it's also boosting other cloud stocks like data dog and snowflake, which are among them. apple falling after posting sales decline for the third straight quarter there you can see there is snowflake and data dog apple down 3.5%. but let's get right to bob pisani with the question we posed off the top. is this the perfect goldilocks jobs report? >> the important thing is

in for kelly evans, i'm tyler mat mathisen a tail of two retailers, target versus walmart what's drivingh one will likely come out on top in this big boxing match over consumer spending we' we will debate >>> and new clothes in this economy? we'll ask about the demand for thrifting, and what it's saying about the health of the consumer >>> waitin