But why stop there . The answer is its not enough. Jensen huang unveiling the new generation of nvidias ai chips yesterday at the companys developers conference. Welcome to squawk on the street. Im david faber. Live from the new york stock exchange. Jim cramer is in san jose, california. He is at nvidias gtc. Hes going to have a live and exclusive its both live and exclusive interview with jensen huang. That will be in the next hour. Of course, we or very much looking forward to it. A half hour from now we get started with trading. Lets give you a quick look at futures. We are in the red. So perhaps a lower open when we begin trading. It starts with nvidias potential ai gamechanger. The Company Unveiling its latest, more powerful Artificial Intelligence chips which Ceo Jensen Huang says are twice as powerful for training ai models that the current gpus. The feds march meeting kicking off today. The bank of japan raising Interest Rates. No longer are they negative in that country. And w
Were about at session highs with the Dow Jones Industrials up about half a percent. The nasdaq composite is the laggard today, down about a quarter of a percent. We do have communications services, the lagging sector, real estate also lower for the session. Energy and utilities leading the way. Investors digest the news out of nvidias conference, 868. They have the new a. I. Chip. Lets just kick this off with even your initial reaction to everything weve heard so far. Jim, ill start with you. Are you surprised that were seeing a little bit of pullback on this news . Was it not as, i dont know, as bangup as the market had hoped to hear . I dont think thats what it is at all. Its had a hell of a rally, 75 year to date, 3x the last 12 months. A little bit of profit taking is warranted. You think to yourself, what sort of rabbit can they pull out of a hat . Im not expecting them to come up with a cure for cancer on that conference that they do. They did what they are supposed to do. They c
Yesterday. 4. 23 . If you check out the price of copper, copper ended at the highest settlement since october of last year. This morning, it is off 1 . Watching that copper closely because it is a signal of expectations for global manufacturing. Japan central bank raising rates for the First Time Since 2007 and ending the other easing measures. This is the longest easing from any central bank. They were the lfirst to go in ad the last to come out of the easing. It raised the rate to 0. 1 . That was up from negative to 0. 1 . The yen trading at the lowest level of the year compared to the dollar. The central bank abolishing the yield curve control policy for japanese sovereign bonds. The central bank said it planned to purchase government bonds worth broadly the same amount as before. It will scale back asset purchases and qt. It is not really aggressive if you are talking about zero to 0. 1 . Backing away from the eightyear experiment. Experiments are not eight years. The new normal. I
To buying and selling friends across the country. We begin with dom chu with the latest numbers. Its green across the screen, but the tech trade, which has been the leader for the last several days, and even months and quarters and years at this point, is the underperformer in todds trade. Well go through that in a moment. Its the dow up nearly 300 points, three quarters of a 1 gain there. So a laggard is the leader in todays trade. The s p 500, the broader measure, 5170 the last trade there, up about 20 points. At the highs, we were up 23. So near session highs. We were down 18 points at the lows of the session. Up one half of 1 there. And the nasdaq composite up 16,151, up 48 points, roughly 1 3 of 1 . So its the laggard in todays trade. I mentioned the technology trade. Crypto is part of that narrative right now. Bitcoin prices, currently down about 3. 5 , 64,800 and change. Remember, just in the last several days, bitcoin prices were above 73,000. Eit ether prices were above 4,000.
The defendant. We have to pay the price. I agree on the concept, of course. U. S. Consumer prices increase at the slowest rate in nearly three years keeping expectations for a june rate cut on the table. We will hear from two policymakers later on today. Staying in the u. S. And bad to worse. Shares of Community Bancorp plunge in extended trade after removing the ceo after weakness in internal controls. Good morning. Lets get to some fresh data pointseurozone. The final pmi of 47 over 466. 1. Eurozone factory activity contracting for the 20th month in a row. Coming in higher than the flash. Euro dollar at 108. 09. Lets get back to the top stories and earnings news out this morning. Daimler truck with a beat on the full year. The company said it sees revenue being close to flat in 2024 amid tough economic conditions. We will be hearing from the ceo martin daum at 11 45 cet. Thats a first on cnbc interview. Swiss Logistics Group posting a 49 fall in annual operating profit which was wors