Shame on you second, it was a wild ride the dow finishing up and then finishing lower, all this because of what else, the federal reserve, fed chair Jerome Powell and other officials tempering hopes of a rate cut dow and s p posted their worst days of the month. It was the nasdaq, some of your favorite tech stocks took the brunt of the beating the faang, bit microsoft, alphabet, down 3 facebook off 2 . You get the picture. Guy adami. Yes, sir. Fracas, fracas, what do we make of what the action was today . Is that how sensitive this market is to the fed thats the refor t rhetorica question the fact that we get to 2950 again and again and fail, i think it is problematic. We do it when the vix gets down to 15, pete can speak to that, levels where the last six to eight months the market has topped out i think the market is overestimating the power of the fed. I think unless we get a trade deal, which i dont think were going to get, i think we roll offer at these levels. You just gave a lot
You hit . Julius, hit. Get a car up here now that deputy suffered a shrapnel wound to her hand. Santa rosa police are investigating the shooting. They say the suspect was armed with this ak 47 style rifle. The suspect shot more than 50 times using an ak 47 style rifle at the deputies. Several deputies were injured from ricochets or from shrap metal associated with that gunfire as well. Wheres he at . Following a chase, police say the suspect appeared to crash his car into a deputys vehicle and through a fence while other deputies were responding. One of them accidentally runs over their fellow deputies Nicholas Dalia suffered severe head injuries and burns. He was rescued from underneath that sheriffs car. Dalia remains in the hospital. This fundraiser page from a Peace Officers Association is collecting donations. Police say cervantes likely died from injuries in that car crash. The investigation continues. Historically, we know that anyone who is willing to fire upon deputies or Poli
Caroline bitcoin hits a fresh record since its peak in november 2021. We will have coverage of the market and those meme coins in the rush. Lets first check in on these markets. Bitcoin is up, but the rest of the market trying to digest some of the runup we have seen. We focus in on mixed Economic Data today. The u. S. Showing some Services Weakness and we look ahead to testimony from jay powell, his semiannual experience in terms of the politicians. What will the grilling mean . How much will he be reticent to say that they are looking at those rate cuts anytime soon . We are looking at 1. 8 down. I want to focus on what is happening in china, the tradenames in the United States with a Golden Dragon index, off by 1 as we see a Growth Perspective coming from china. How will they get there . That ultimately what is the debt they are going to be fueling in terms of the focus on a i, on technology coming from china . Not enough to buoy the stocks and chinese names. Looking at the 10year y
Reclassify marijuana. What the move means for trading in these names. Im melissa lee, coming to you live from studio b at the nasdaq. On the desk tonight tim seymour, karen finerman, and steve grasso. Stocks closing on a down note, with the nasdaq sinking 2 and the dow shedding 570 points, accelerating the last ten minutes of trading. All three closing near their lows of the session and well in the red for the month. Each ending fivemonth winning streaks. The dow posting its biggest mostly loss since september of 2022. Well dive more into what is behind these moves later this hour, but we have to start off with amazon. Shares are higher, though off their best afterhours highs. The company reporting a beat on the top and the bottom lines and higher ad revenues and sales in aws guidance in q2 though. Kate rooney has the details. Cloud growth was the key story here. Aws sales, thats what folks were watching. 17 growth, better than the 14. 7 wall street was expecting. A. I. Appears to be d
Biggest bank by market value is saying he would not be buying bank stocks right now. But first our talk of the tape, while this weeks crucial catalyst to the advantage for the bulls or the bears with the s p 500 stuck in a sideways range since midjuly. Welcome to you all. You wouldve thought perhaps on monday of this week with a lot at stake in terms of these announcements, maybe the market would not do much. We are making a little bit of upside progress. What is your read on the action and rather it by implicitly the market is in the soft landing camp . The market right now has been in that soft landing camp. I think at the beginning of the year consensus that we were going to go into a recession, as that has obviously come off as a probability we have had a huge berating. I think unless we see the tenure firm in about 4 1 4, the twoyear firmly above five as we still bounce around those levels i think the market remains in the soft landing. I do think as we get further into the endoft