Find out soon. Good evening, everybody, all that and much more ahead we start with some breaking news on nikola. Shares are down in the after hours, following a big up day. Bloomberg reporting securities and Exchange Commission will exam over the stock selling fraud and allegations, stock down 7 . Youre response . Again, i cant speak, i said it last week, i cant speak to the voracek asity of the shore seller report, acquisition of fraud, i have no idea, but what i stand behind, despite how the gm is structured, whether their investing money, the fact that gm would link their wagon to nikola and if these acquisition prove to be correct, i think the real deleterious thing could happen with shares of gm, in my opinion, potential for exponential move and gm perhaps didnt do the homework others did. Thats my primary concern looking at this entire situation. Tim, to be clear on the story and were trying to get phil up here any moment, you know, Trevor Milton said the other day were going to
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
Plus, tesla aint looking so magnificent. That is the view of wells fargo, the firm slapping that ev maker with the equivalent of a sell rating. Lets begin with this ongoing market rally. As we said, s p is coming off that record close, posting its best day yesterday in march. A lot of discussion. We were talking about the wells note today about disjointed momentum trade going on in frot of friday, mike. It has been a little bit agitated. This has been a fuse people have been watching burn down, this idea that the market is o overrelying on these momentum movers. Laggards took up the slack. Yesterday, little bit of a reversal. It was a bounce. I feel like, you know, its admirable that the market is able to repair itself this way in an ongoing basis. Its a bull market. The pullbacks have been shallow. Theyve been brief. But it still hasnt relieved a lot of what could be the excesses within it, which is the extreme outperformance of things like semis. And the extreme reliance on the dayto
Graded a c by her own. Hes a tough grader. Nasdaq outperforming several momentum names in that index bounce back led by nvidia back 900 bucks. Oracle is the best and s p following its earnings report. That after naming a new ceo. And all takes us to our talk of the tape which is all about the rally. Is it running out of steam . Is it taking a momentary breather . No real breather at this moment as we come on the air. Lets ask archie Market Strategist for j. P. Morgan asset management. Welcome back. Reading through your notes, you sound really positive on this market. We do some positive. First on the fundamentals for the economy we see growth normalizing this year 2 , but zero recession in our base case. We see inflation also moderating towards 2 by the end of the year. You still have a pretty resilient nominal growth backdrop for companies. Resilient Revenue Growth area and at the same time it seems to us the big take away from Fourth Quarter earnings was a bottoming in the margin fro
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