Cap names in the green today, including nvidia, back above 900 a share, 920 to be exact. Apple puts a touch lower after be Berkshire Hathaway cut for tax purposes, and strong day for uber, after the Company Holds its annual meeting. Weve given you highlights on this day, it does take us to our talk of the tape, the rebound, and whether you can trust it. Lets ask our panel, dan greenhouse with asset management, stephanie link, and steph and court are both cnbc contributors, everybody at post nine, having a little party over here. Steph, can you trust this bounceback . Its been pretty darn strong from the april intraday lows, s p up 4 , russell 2000 up 6. 5, nasdaq up almost 7. Earnings are coming through better than expected. Growth rate year over year is 7. 1 . If you exclude Bristol Meyers 12 billion charge that was 10 . No one was talking about 10 growth, why, because youre going to see the growth, because the growth is coming through. I know everybodys focused on inflation. I am too
Angen soaring and comments on its version of an obesity drug, and apple hires and focuses on that record buyback. Is the Company Using 110 billion to wallpaper over some weakness or were the results not as bad as feared . Steve covac covering apple for us from sfans. Hey, steve. So look. Last quarter revenue was down 4 , iphone sales down 10 , but no one really seems to care because apple gave its shareholders the biggest stock buyback in corporate history. Thats 110 billion, increased the dividend, 4 to 0. 25 and went towards modest growth which was expected as some have been trimming their estimates. China sales were down 12 , and in an interview yesterday, i was told iphone sales in Mainland China grew. Thats countering the narrative we have been hearing over the last few months. I also asked cook about his recent visit to china just a few weeks ago. He told me, quote, i feel great that in an extraordinary, competitive environment, that we grew iphone sales in Mainland China last qu
Premarket. The price for paramount. Sony and apollo submitting a cash offer. That includes debt. I will bring you up to date with the very latest reporting on this saga. Lets get the Market Reaction to this mornings job numbers. We were looking for 240. Negative revisions of about 22,000. Bond market kind of sniffed this one out, jim. It did. This is one of those moments where i think youre sitting there and saying, well, think about the narrative we had on tuesday, that tomorrow, powells going to lower the boom and talk about how, yeah, the chances are we could have a rate hike. He would have looked very foolish. Instead, now people are saying, did he have the number . No, it was a pretty tightly kept secret, but when i look at this, i say to myself, all right, we probably will get a rate cut if things get a little bit lighter and that the market is very poised to have a run here, which is really amazing. Yeah, the tenyear right there tells the story, doesnt it, jim . Sure does. Falli
Fed, the chair saying inflation is still too high. Weve got a big day for apple, which will report its earnings after the bell, this amid signs of an iphone slump and, of course, potential struggles in china were keeping an eye on shares of carvana. They are up as much as 40 in the premarket. Remember when that thing was close to bankruptcy . Well, this was a recordsetting quarter, and were going to talk with the ceo that will be next here on squawk on the street. Lets begin with the markets and the fed, the day after the chair delivered this message on rates. Its unlikely that the next policy rate move will be a hike. I would say its unlikely. You know, our policy focus is really what i just mentioned, which is how long to keep policy restrictive. Lot of takes today, jim bmp unequivocally dovish, you agree . Thats a hard one, because i think that b of a saying fomc meeting, wait and see. Fomc bias here, Morgan Stanley firm hold with the firm hold. Fomc stalling for time, wells fargo.
Future of this onetime pandemic darling. And later, sales of Novo Nordisks wegovy more than doubled, but the possibility of increased competition putting pressure on the stock today. Can the company tip the scales in its favor well go inside the numbers. Im melissa lee, coming to you live from studio b at the nasdaq on the desk tonight courtney garcia, karen finerman, dan nathan and guy adami. Start with apple 110 billion buyback, eclipsing the previous record set by apple in september of 83 billion. That weighing a 10 drop in iphone sales sharing are soaring 7 , adding 200 billion to the companys market cap the Conference Call just kicking off at the top of the hour Steve Kovachs got all the details. Hey, steve hey, melissa. So, yeah, top and bottom line beats for apple. And let me go over the other numbers here that are really driving the stock up higher. The dividend increase, up to 25 cents a share now. And like weve been talking about, the biggest buyback ever in corporate history