Magnificent seven are in correction territory but nvidias getting a boost ahead of its earnings. And were going to keep focused on those economic challenges in china. The countrys central bank cutting a key Interest Rate by less, though, than many had been anticipating. Oh, yeah, who is many anymore . Slew of press over the weekend as well. The journal writing kind of a devastating headline. Is it over after 40 years . Yes, definitely over. Who can say this stuff . We were here. We were lucky enough to witness the fundamental change in the chinese economy. It happened over the weekend. Happened over the weekend. Theyre trying to be a service economy. That was it. Done. Maybe president xi has just said, you know what . Every bankrupt artist, every ridiculous guy who built too much and every ridiculous person who tried to get extra yield, sorry. Why not . Why not clean up the excess . Well, but the question, of course, is, contagion. Oh, contagion. Yeah, some of the huge promote companie
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
Help. Nvidia is the helper. Its the expediter. Its the cost saver. Nvidia allows you to get it done. Theres just one problem. Its widely misunderstood because on most days it is so hidden under so many partnerships its hard to capture what they do in a spreadsheet. They deliver productivity per share for their clients. Thats whats being bought or taught where i am out west covering the huge nvidia Gpu Technology conference hosted by ceo jensen huang. Now, theres a whole other world back east, the one that produces the summaries like the indices or dow advance 76 points, nasdaq jumped 0. 82 and went out near its closing lies. I didnt like that. Wall street we desperately want nvidia to predict the sales. Give us some metrics to allow us to figure out if its worth 3. 1 trillion or 2. 7 trillion or 1. 8 trillion like alphabet or amazon. Instead of the 2. 2 trillion its worth now. Yeah, we want jensen to tell us how nvidia will cure cancer while beating Climate Change and breaking down pla