i'm tyler mathisen with your cnbc news update at this hour.rk city mayor and donald trump lawyer rudy giuliani pleaded not guilty today to nine felony charges in arizona's election interference case. giuliani and at least 11 others are expected to be arained today on conspiracy and fraud charges for trying to subvert the 2020 election in that state. >>> more than 25 million people in the midwest are under threat of storms, bringing destructive hail and tornadoes. rounds of storms have been making their way over the u.s. in the past week, including one in houston, leaving hundreds of thousands without power amid high heat and humidity. >>> the french railway workers went on strike today, to attain an olympic bonus for agents mobilized during the paris 2024 games. other french unions, including those representing garbage collectors, police, and airport workers have also demanded olympic bonuses. le bonus. back to you, kelly. >> thank you very much, tyler mathisen. >>> coming up, gold is surging to new records. the commodity has settled a new rec

alongside kelly evans i'm tyler mathisen markets split today.sion lows, coun nearly 300 points health care dragging on the dow, accounting for half of the dow's losses >> the nasdaq is

tyler mathisen >>> coming up, tighter lending standards tend to be a leading indicator of the recession around it could be different. the deiltas and how to position for a stagflation scenario we'll dive into that next. with a plan that's right for your team. let our expertise round out yours. it's time to feed the dogs real food, not highly processed pellets. the farmer's dog is fresh food made with whole meat and veggies. it's not dry food. it's not wet food. it's just real food. it's an idea whose time has come. >>> welcome back new research showing that over the past 30 years every recession has been predated by a tightening of lending standards, but this could this time be shaping up differently leslie picker joins me now i love this one, leslie. we need to do a very deep dive what's going on here >> kelly, you and me both. as you know, the usual playbook is that the fed raises rates, banks pull back on lending and demand for landing plummets and yes, there is a recession that follows, but so far that hasn't been the case in the recent tightening cycle jefferies conducted an index

. >> let's get to tyler mathisen for a cnbc news update. >> thank you very much welcome, everybody, tothe exchange." president biden spoke out on the international criminal court prosecutors' decision to seek warrants against israel prime minister benjamin netanyahu calling it outrageous in a statement. biden says israel was not equal to hamas the icc prosecutor said both leaders bore criminal responsibilities for war crimes amid the israel-hamas war in gaza those leaders being netanyahu on the israel side and the leader of hamas >>> the trump hush money trial on break for lunch i think they may just now be back the judge ruled on the admission of evidence of a photo of donald trump and keith shiller. the judged he believed the photo was relevant, but was going to think about hearsay. >>> and a video link between new york city and dublin, ireland, that is part of a public art exhibition called the portal is back up after it was shut down last week because of inappropriate behavior exhibit organizers say they installed more fencing on the new york side and have taken a step to prevent p

alongside kelly evans, i'm tyler mathisen glad you could join us on this friday. >>> coming up, a doubled be a make or break for the box office coming off a series of flops is the truth this summer will never, ever live up to the barbenheimer hype of last year. >> if this

. >>> to tyler mathisen now for the cnbc news update >> thank you very much the texas supreme court todayected a challenge to one of the strictest abortion laws in the country. several women who suffered serious pregnancy complications filed the suit, arguing that the ban doesn't offer enough clarity on when exceptions are allowed the decision was unanimous all nine justices are elected and are republicans. >>> according to authorities, at least 33 people are dead from suspected heat stroke in india several regions in the country in the middle of a heatwave, with temperatures reaching a record high in deli of 127 we're going to go now to joe biden, who is making remarks after the trump verdict yesterday. let's listen >> good afternoon. i just want to say a few words about what happened yesterday in new york city. the american principle that no one is above the law was reaffirmed donald trump was given every opportunity to defend himself. it was a state case, not a federal case and it was heard by a jury of 12 citizens, 12 americans, 12 people like you. like millions of americans who serve

i'm tyler mathisen with your cnbc news update.h money trial on lunch break, but when the trial resumes, it will be the defense's turn to cross examine michael cohen. he acknowledged that he lied in the past about his involvement in campaign finance violations in an effort to remain loyal to mr. trump. and that loyalty led him to "violate his moral compass." >>> protestors over the israel-hamas war are taking down their tents on harvard yard today after university officials agreed to address questions about harvard's endowment. protestors are demanding the tool divest themselves from companies that do business with israel. >>> and the nobel laureate and master of the short story alice munro has died. awarding her with the nobel prize in literature in 2013, the swedish academy cited her ability to write a novel in just a few short pages. >> i must read her short stories 10, 15 years ago, and i just remember the scenes from them all the time. she was incredible. those that haven't read it, i highly recommend it. >> put it on the list

i'm tyler mathisen in for the last time for kelly evans because she's coming back tomorrow.eeting is in the books now. berkshire is sitting on and whether it is time to return some of that cash to shareholders, and if so how? we will talk about all of it ahead. he's back. former starbucks ceo, he's

alongside kelly evans i'm tyler mathisen markets split today. the nasdaq soaring to a new record high, while the dow near session lows, coun nearly 300 points health care dragging on the dow, accounting for half of the dow's losses >> the nasdaq is higher and nvidia is boosting tech stocks closed above 16,000 in november '21 sort of the post covid high until today nvidia has gained 250% as the nasdaq is above 17,000 for the first time and look at this, at how close nvidia now is in market cap to apple. only about $150 billion behind as nvidia's market cap approaches $2.8 trillion tyler will have more on what's driving that. >> i could live comfortably on the difference there. >> couldn't we all. >> let's begin with the setup for stocks right now as we've reached the unofficial start of summer mike santoli joins us now with more from the new york stock exchange. >> hi, tyler if you look at history, june, july, tend to be actually positive when the market is already in an uptrend which we decidedly have been and also an election year. you have a l

now it tyler mathisen. >> israeli officials announced air forces recovered thefestiva during the attackn a tunnel during a military operation in gaza. of the 250 hostages taken, israel says about 100 are still being held. >>> and abortion rights amendment has qualified for the south dakota ballot this november. the proposed amendment would enshrine abortion access in the state's constitution. it is the fourth state to put the issue directly before voter this is year. though opponents can still file legal challenges for another month. >>> and former donald trump lawyer john east man pleaded not guilty to conspiracy charges in arizona today. first of 18 to appear in court after being charged for allegedly participating in the effort to overturn the 2020 election. eastman was released from custody without conditions. >>> and coming up, it seems like there is also spark in the renewable energy trade. etf tundown 25%. but it is alive and well among? investors. we'll discuss how and why. >>> and cnbc is celebrating native islander and heritage month. >> i came to the u.s. as an immigrant and

i'm tyler mathisen with your news update at this hour. courtroom win for former president trump today. a new york appeals court ruled he can sue his niece, mary trump, forgiving information to "the new york times" for its 2018 probe into his finances. the court ruled there was substantial legal basis for trump to claim she violated confidentiality provisions of a 2001 settlement over the estate of trump's father, fred. mary trump has yet to comment. >>> once a bitter rival, now a fund riser. advisers to florida governor ron desantis say he hopes to raise tw at least $10 million for the trump campaign. he says the money will be used to buy media in key swing states. >>> the new women's basketball league unrivaled has secured big investors. the list includes former espn president john skipper, nba all-star caramel anthony, and a firm led by u.s. women's national soccer team captain alex morgan. the league, which plans to launch in january, will give athletes equity and promises to b pay the highest women's salaries in women's sports. >> a c

alongside kelly evans i am a tyler mathisen. >>> cpi otherwise known as inflation dropping slightly. core inflation at its lowest reading since 2021. >>> plus, the white house is eva terrorists were meant to protect the u.s. auto industry. it may have progress toward an all electric market. >>> but, first to check on the markets in the av space. neo shares are up on an upgrade from j.p. morgan. >> this one is getting lots of attention lately. not just rallying this week. hitting a record high, interesting massive volume and interest. >> the meme stocks pulling back today. deep into the red. the data change losses driven mostly on news. issuing 23 million new shares. >> in the magnificent a 70 tf hitting is highly level since inception in april 23. currently, up a little less than 1%. >>> the dow is up nearly 300 points. it is in about 160 . of 40,000 for the first time. s&p up 1%. nasdaq nearly up to hundred points. we may have all-time record high closes today. >> looks like it. >>> those moves are being fueled by the cooler than expected inflation report out this morning. here to d

alongside leslie picker, i'm tyler mathisen glad you could be here >>> a day after fed whiplash, marketsre moving higher again. 255 points on the dow. a lot of anticipation for apple results after the bell we'll dig into what the company could possibly say that would satisfy investors. >>> check out shares of carvana, up more than 31% today look at the number in the corner nearly 1,500% gain in a year more and more analysts are becoming believers with these levels, should you join them? we'll trade that stock coming up. >>> we begin with two big tech topics steve kovac covering apple earnings and ayeamon javers in washington we have a historic case wrapping up steve, let's start with you. >> reporter: yeah, leslie, we have apple earnings coming at 4:30 p.m. eastern. the real, top thing we're looking at here is what does it look like over there in china? we're expecting overall revenue to be down about more than 4.5%. a large part of that is because of these stung lruggles we've sn apple go through in china. sales for iphones down 13% in the september quarter, and since then, loads of dat

alongside kelly evans, i'm tyler mathisen glad you could join us on this friday. >>> coming up, a doubleeature this holiday weekend could be a make or break for the box office coming off a series of flops is the truth this summer will never, ever live up to the barbenheimer hype of last year. >> if this summer is a dud for the industry, could it mean less traffic for the malls and shopping centers where the theaters are located there's already signs of weakness with one of the largest facing a cash crunch more ahead. >>> move, movers and gainers in the retail space with deckers, the maker of ugg, up 13% right now. ross stores up 9%, surging after results. more names next week, including costco, best buy, and gap. >>> two big moves in the pharma space. merus soaring 30% on promising results for the melanoma drug. immunocore dropping despite its own melanoma medication. >>> burger king, owned by restaurant brands, is offering its own $5 value offerings to contend with mcdonald's recent rollout. could this be a pricing war? we'll have more later. >>> let's begin with the markets, overall hi

i'll see you at 3:00 i'm tyler mathisen in for teltkelly evans. it is the final countdown on interest rates today market probabilities indicate no chance of a cut today, but could what jay powell says move the markets one way or the other plus, three more names on deck to report. it's all about the consumer, inflation, housing our trader will buy two and fade one name into the print. and we'll tell you which are doing which. and speaking of the consumer, the high end mostly holding up so far so good that's good news for taylor made, the company taking a big swing at athleisure. but we begin with today's markets and dom chu with the numbers. >> it's wait and see and you might suspect on a fed rate decision we are seeing a mixed market, but it's fractional moves and not dramatically so one way or the other. dow outpacing the broader market, up 93 points 37,908 the s&p 500 down 16 points, about 1/3 of 1%. even at the highs, we were down a modest three points and 22 at the lows so a wait and see type trading rake the nasdaq, 66 points to the downside

alongside leslie picker, i'm tyler mathisen glad you could be here >>> a day after fed whiplash, marketsof anticipation for apple results after the bell we'll dig into what the company could possibly say that would satisfy investors. >>> check out shares of carvana, up more than 31% today look at the number in the corner nearly

now over to tyler mathisen for a cnbc news update. >> thanks, kelly.ontrol of a strategic corridor that runs along gaza's border with egypt. it comes as a top israeli official said earlier today the country's war with hamas was likely to last through the end of the year. >>> north korea flew hundreds of balloons filled with trash and manure over south korea today. south korea's military said rapid response teams were recovering the balloons across the country as of wednesday afternoon. it follows a promise of retaliation from north korea after activists in the south sent leaflets over the border criticizing the north korean regime. >>> criminal charges against world number one golfer scottie scheffler, they've been dropped. prosecutors in louisville asked a judge today to dismiss the charges. he was facing three misdemeanor charges and one felony count for assaulting a police officer with his vehicle. the incident happened during the pga championships a couple weeks back, as scheffler was trying to rush to the course ahead of his round and was being de

alongside kelly evans i am a tyler mathisen. >>> cpi otherwise known as inflation dropping slightly.nce 2021. >>> plus, the white house is

i'm tyler mathisen in for the last time for kelly evans because she's coming back tomorrow.he annual berkshire hathaway meeting is in the books now. berkshire is sitting on and whether it is time to return some of that cash to shareholders, and if so how? we will talk about all of it ahead. he's back. former starbucks ceo, he's in, he's out, he's in. he says starbucks needs to fix its stores to win back customers, but bank of america sticking with a buy on the company. sitting 50% upside for the stock from here. that analyst will join us to make her case. and is she bringing cappuccinos, too? >>> disney on deck to report. what to watch for, how to position on that name and two more. that's ahead in the earnings exchange. we begin with today's markets. don chu. >> the bounceback continuing off the recent lows we have seen over the course week and a half or so. right now the markets are green across the board, but fractionally so, but it's still green. the dow is down 89 points. two-thirds of 1% gained for the s&p 500 which sits at a decent level right now. 35 points today. an

i'm tyler mathisen with your hourly news update.on a lunch break after michael cohen was being cross examined and harshly. todd blanche battled with cohen as he highlighted lies cohen told in the past. the proceedings slow going with multiple objections lodged and several side bars with the judge. it is unclear whether the defense will finish with cohen today, but there have been lots of revelations that call into question mr. cohen's history of not telling the truth. >>> south africa today urged the u.n.'s top court to order israel to top the offensive on rafah, saying the attacks must be stopped to ensure people's survival. israel, which has announced south africa's claims as baseless, says it will respond by tomorrow. >>> the justice department today formally moved to reclassify marijuana as a less dangerous drug. sit a shift in u.s. drug policy as the department of health and human services now sees credible scientific support for medicinal uses. there will now be a 60-day public comment period, which the dea will issue its fina

alongside kelly evans, i'm tyler mathisen. glad you could join us on a tuesday.ight now the markets are basically flat, but there is action in individual stocks, as there always is. we have been watching the consumer closely. today we got reports from low's and macy's. >> we have a lot of action in crypto over the past week. bitcoin up 13%. don't look now, it's back over 70k. ether up 30%, hitting record highs on hopes it will be the next crypto with an etf. >>> but we begin with microsoft, satya nadella is wrapping up his keynote address at the company's build developers conference. the shares hitting all-time highs today. steve kovach joins us from seattle with more. steve? >> reporter: hey there, kelly. yeah, we're here at the tail end. right now we have microsoft cto kevin scott on stage, giving a lot of demos of chatgpt 4.0. that is, of course, the new language model that chatgpt, open ai launched last year, the one that lets you have these natural conversations. we're also looking, friend of your show, khan, from khan academy is on stage talking about the t

i'll see you at 3:00 i'm tyler mathisen in for teltkelly evans.terest rates today market probabilities indicate no chance of a cut today, but could what jay powell says move the markets one way or the other plus, three more names on deck to report. it's all about the consumer, inflation, housing our trader will buy two and fade one name into the print. and we'll tell you

with kelly, i'm tyler mathisen the dow is higher today, not by much, but it is in the green we have beenf the previous six days. and all five losing days were 200 points or more the one up day was 4, not 400, just 4 points. >> the s&p is performing the least poorly, we can say, down about 2% the nasdaq is down more than 2.5% week to date. today it is chip stocks weighing on tech. nvidia, lower by 2%. super micro, the biggest decliner, 7% decline and dell hitting the skids today. a.i. helped boost the revenues but hurt profit margins. down almost 20% right now. hp and hewlett packard enterprise falling 6 to 7% as well. >> zoom out further, the major averages still on track for a winning month of may the nasdaq still up 5% for the month. so how should we view the market action as we close the books on may and turn to june let's bring in mike bailey, director of research with fbb capital partners and mike santoli, a pair of mikes, cnbc senior markets commentator. mike bailey, let me begin with you. if i'm reading the notes correctly, you have a rather shall i call it benign view of what the

alongside kelly evans, i'm tyler mat mathisen. glad you could join us.merica's chess match with china continues. biden administration raising tariffs, $18 billion worth of chinese imports. we'll discuss the impact. >>> plus, the mean season. viral trading roaring back to life on the mean veteran. this could play out different and leaving more people holding the bag. >>> speaking of those meme stocks, gamestop, up more than 20% off its highs of the session, amc up more than 30%. also off the highs. additionally, names with high short interests, nova, virgin galactic, plug power on a move as a result of the meme return. >>> now on the broader market front, the dow given up its early morning gains. lower by 19 points. s&p up 4 points. and the nasdaq up a third of a percent. >>> chinese tech on the move. alibaba down 7% posting an 86% profit drop, kelly. >>> and google, holding a major developer event announcing a new version of gemini ai. the stock only up fractionally today. but we'll have a lot more on that in a minute. >>> first, an update on the bid for