Let's get the latest on trade this morning. The president did announce 100% tariffs on chips unless companies build in the United States. A number of chip names moving higher on the exemptions part of that news, but Intel is sitting this one out after the president called for the company's CEO Lip Boutan to resign, calling him quote highly conflicted.That comes after Republican Senator Tom Cotton questioned his ties to China. Let's bring in Megan Cassella from Washington with the latest. Morning Megan. >> H ...

Yes, David. We're looking at wholesale sales and inventories. On the sales side, this is a fresh June number expecting up a tenth.Comes in stronger than expected. Up 3/10. That's the biggest uh trade sales month overmonth change going back to March of this year when we were up 8/10.And the high water mark was February when we were up 2% 2%. And we all know that's most likely uh anticipation getting in front of some of the issues that ended up coming out from liberation day and the pull forward. On the inven ...

Let's get to Jim and stop trading in retail. We call it football. That means the price can be fungeible.We don't know what it's going to actually be. Right now, people are saying that elf beauty may have to do some discounting. I've got Trangamino one.It's been a remarkable performer long-term, short-term, and has not been down 21. I want to hear what he has to say. They are doing a big launch in Sephora for one of their divisions.Uh but right now, they don't like it. And uh it could change because the shor ...

7 minutes before an opening bell here on this Thursday at the New York Stock Exchange. Let's get to a mad dash with David Jim. Yes, sir.>> It's not a mad dash, it's a door dash. There you go. >> This quarter, not only was it unbelievable, much better than expected, but Tony Shu in the Q&A put on a clinic about how once you get the cell phone and you get the app in, you just order a lot of stuff.In addition, the advertising I think is the gross margin. I it's this is like a mini Amazon where they started mak ...

I want them to be the push back saying, "Listen, guys, we can't have these kind of double and triple pops. We just can't uh because it's not like it's what we did wrong in 2000. We don't want to repeat it." But so far, so bad. Let's get the opening bell of the CBC Realtime Exchange. The big board, it's C1, a digital assets closed in fund celebrating an IPO at the NASDAQ.also that IPO Firefly Aerospace as we said the space and defense technology company Jim looks to be impressive here at the open you had the ...

Financial Performance - Lyft reported its strongest quarter ever, with rides and bookings jumping double digits, though revenue came in just short of estimates [1] - Lyft has $993 million in cash [6] Market Trends and Consumer Behavior - Lyft does not see any softness in demand, with trips to the airport up quarter-over-quarter and year-on-year [3][4] - Lyft has become a part of millions of people's lives, serving and connecting millions every day [4] - Lyft is gaining share, achieving its highest share under the current CEO's tenure [6] Autonomous Vehicle Strategy - Lyft acquired a company called Free Now and closed the deal last week, expanding its global presence [7] - Lyft is partnering with BYU, which has completed 11 million rides without a driver, to explore opportunities in Europe and self-driving technology [5][7] - Lyft believes there will be multiple winners in the self-driving space [9][10] Safety and Responsibility - Lyft acknowledges the heartbreaking issue of sexual misconduct and is committed to leading on safety, even if it means potential consequences [11][12][15] - Lyft launched Women Plus Connect in September 2023, resulting in over 115 million rides taken by women with other women, reducing risk [14] - Lyft has programs allowing drivers to have cameras in the car, pin verification, one-click access to ADT, and location sharing [18][19]

Government Efficiency & Spending - The Office of Personnel Management is ending the "required five things" email program initiated by Elon Musk [1][4] - The government acknowledges starting from a less efficient position compared to the private sector, with the current system rewarding more headcount and spending [3] - Federal government spending grew by approximately 55% in the last 5 years, from $46 trillion in 2019 to $7 trillion [5][6] - The Biden administration added 300,000 to 400,000 government employees [7][10] AI & Technology Implementation - There's a push to use AI as an efficiency enhancer within the government, particularly for tasks like writing rules and regulations, and distilling information [10][11] - AI could be used to review and potentially eliminate outdated or irrelevant regulations, with a goal of potentially removing up to 50% of existing regulations [12][13][14] - The government is exploring using AI to enhance efficiency, but human oversight will remain in place [16] - Current data collection processes within the government, such as "data calls," are often manual and inefficient, highlighting the need for better technology and systems [18][19] Data Transparency & Credibility - There are concerns about the credibility of government-produced numbers, including those from the Bureau of Labor Statistics (BLS) [21] - The government is considering ways to increase transparency around data collection and reporting, while also addressing concerns about protecting private information from businesses and individuals [21][22][23]

President Trump posting on Truth Social in just the last hour. The CEO of Intel is highly conflicted and must resign immediately. There is no other solution to this problem. Thank you for your attention to this problem.The stock had been down as much as 4% premarket, now off by 2 and a half%. Of course, this follows a letter sent to Intel's uh board head Frank Yuri from Senator Tom Cotton um wanting some more information about Lip Bhutan, the CEO of Intel's his investments made in China when he was CEO of C ...

For market reaction, let's bring in Stephen Parker, co-head of global investment strategy at JP Morgan Private Bank. Stephen, great to have you with us. Uh, so we just got claims data, better than expected, but we had the jobs data from last week.How do you view uh where we are on jobs and how that impacts what the Fed is going to do later this year. Yeah, we think the weakness that we saw last week in the the labor report, you know, is not a surprise. Uh, we expected that the the delayed impact from tariff ...

Labor Market & Productivity - Initial jobless claims for the week of August 2nd reached 226,000, a 7,000 increase from the revised previous week's 219,000, marking the highest level since early July [5] - Continuing jobless claims have remained above 1.9 million for the 11th consecutive week, specifically at 1.974 million, exceeding expectations and reaching the highest level since November 2021 [6][7] - Non-farm productivity for the second quarter increased by 2.4%, surpassing the expected 2%, representing the strongest productivity since the third quarter of 2004 [3] - Unit labor costs experienced a slight increase, rising to 1.6% compared to the anticipated 1.5%, following a revised 6.9% increase in the previous period [4][5] Treasury Market - The Treasury is set to auction the final $25 billion of a $125 billion Treasury coupon supply, featuring $25 billion in 30-year bonds [8] - A record $100 billion of four-week Treasury bills are scheduled to be auctioned [8]