You say goodbye and i say hello. Hello, hello. I dont know why you say goodbye. I say hello. Hello, hello. Lauren welling hello and good morning. Welcome to fbn a. M. Im lauren simonetti. Cheryl saying hello, everybody. It is a thursday. Weve got a lot going on today. Good morning, im cheryl casone. Its a big day and yesterday a giant day tore the markets as we mentioned. Lauren records for the dowd s p 500. All three major averages giving up exactly 0. 15 each. Cheryl lets take a look at whats happening in asia. A lot of news coming out. We had comments overnight from the Chinese Commerce ministry that phase one trade talks depend on the tariffs being canceled p of. In shanghai, we had a slight gang and the kospi coming in with a gang. Lauren germany avoids recession according to the latest gdp numbers. Red arrows across the screen. Cheryl we start with a historic day on capitol hill, a first public hearing in the house impeachment inquiry got underway with a brand yo brandw claims. L
Since may, cross currents have reemerged it was almost a year ago today, july 18th, 2018, that the president first levied his criticism against the chair in an interview on cnbc im not thrilled because, you know, we go up and every time you go up, they want to raise rates again. I dont really i am not happy about it but at the same time, im letting them do what they feel is best. But i dont like all of this work that goes into doing what were doing. Since then, dozens of tweets and quotes going back to the fall obviously things like are you listening, fed, they dont have a clue, we would be thousands of points higher on the dow like a stubborn child blew it is this going to be enough i do, i thought the statement was written by larry kudlow had i first read it. It was written by fed chairman powell the key thing is he does blame the tariffs because he says domestic is good he lays it on trade tensions, which is therefore saying listen president trump, the fault isnt in trump, it is the
The tenyear bull market makes new history as the fed chair appears to make the case for a rate cut plus big tech is at the center of the president s tariff fights as france vows to tax some of the largest American Companies. The white house hits back. And forget f. A. N. G. Jim has a new basket of stocks to watch you saw it here on squawk on the street. The s p surpassing 3,000 yesterday for the First Time Ever after the fed chair did signal a rate cut is on the horizon. This morning it goes back to the hill, testify before Senate Banking. Yesterday in front of that house panel, he was asked if a strong case could be made for lowering rates due to trade uncertainty and inflation short of the target this was his response. Yes, as i mentioned, we think that uncertainty around trade policy and also Global Growth, its not all down to trade policy theres something going on with growth around the world, particularly around manufacturing and investment and trade. And so that uncertainty is, w
100 off by more than 1 for much of the day. Alpha apple and alphabet has been bucking the trend. Look at the semi index, getting smoked, often more than just about 3 , that is the smh, big names are facing selling pressure. Broadcom is down. Marvell is down. That is after its own earnings report. This takes us to talk of the tape, bubble trouble, whether the one soaring semis are in danger of a bigger pullback. It is good to have you back, starting to watch what is taking place in this market. Nvidia, a 100 intraday move. Almost 10 . What do you make of it . I was joking earlier, maybe somebody went to close too close to the sun. They are up 70 yearoveryear. Nvidia is up 80 year to date. I dont worry much. Core businesses were not good for marvell. I think that weighs on it. People are looking at nvidia getting awfully close to the magical fourfigure, 1000 number, maybe some profittaking. I will be honest, on a noisy day like this, i dont read too much into it. The space still has had
Plus openai firing back at elon muffingand his lawsuit an the very ethos of the microsoft backoff and the super tuesday primary battle, theres word mr. Trump is trying to attract wealthy donors and he had a reported meeting with one of the richest people in the world. Its wednesday, march 6th, 2024. Youre watching Worldwide Exchange right here on cnbc good morning welcome to Worldwide Exchange. Im frank holland. L lets get you ready for the trading day ahead. Were going to look at the stock u. S. Futures a big difference from what we saw yesterday. In the green across the board in the premarket. Looks like the dow would open about 85 points higher what were seeing here, a big turnaround since yesterday, coming off their worst day since february 18th with all of the averages shedding 1 or more were showing you the big action on the boards. Youre seeing the declines it was even worse for the mag 7. If you leave out nvidia, losing a combined 233 billion in market value yesterday you see t