say about the state of the consumer. I'm Melissa Lee, coming to you live from studio B at the Nasdaq. On the desk tonight, Tim Seymour, Courtney Garcia, Steve Grasso and Mike co.We start off with the markets going back into sell off mode, the Nasdaq dropping more than 2% today, posting its lowest close of the month. The S&P and Dow each shedding more than 1.6%. Fears about valuations in the AI trade weighing on tech stocks.All but one member of the Mag-7 down today, with Tesla's six plus percent drop leadin ...

Cursor announcing today has raised $2.3% billion at a $ 29.3% billion valuation, nearly triple its valuation from this past June. The AI coding uh tool is utilized across the industry, including at NVIDIA. Joining me now in a CNBC exclusive is Cursor CEO Michael Truel.Uh Michael, doesn't sound like you're seeing a slowdown and coding productivity tools are are one of the early really strong areas for AI. What are you seeing that led to this latest round. What are you doing to fuel that growth.>> Well, thank ...

Ground beef prices in the US have surged 63% since 2020. The price of steak during that time has increased more than 60%. >> We have a little problem with beef.We're going to get that down very quickly. >> Speaking in the Oval Office yesterday, the president said prices are down throughout the United States, but he singled out beef as becoming more expensive. He said his administration will work to lower prices.One explanation for that rise is the size of the national herd is shrinking. Drought and high fee ...

a negative reaction to earnings. This is a chip equipment maker, by the way. >> Yeah.And investors aren't exactly feeling optimistic today. So we'll see how it shakes out through the call. Thanks Christina.Now let's get back to today's big sell off. Speaking of what should investors do if a fed rate cut is no longer a guarantee in the markets seem to be on a bit less stable ground. Joining me now is Innovator Capital Management chief investment strategist Tim Urbanowicz and Citi U.S. equity strategist Drew ...

Washington. The White House announcing progress on trade talks with several countries. Our Aean Javver has the story.Aean, >> John, that's right. The White House posting these details just within the past few moments on their website. We expect to get uh some more details here uh in just a couple of minutes time from White House officials.But what I can tell you is uh they're posting trade agreements uh with Argentina, Guatemala, and Ecuador. Uh the Argentine agreement is interesting. Obviously, there's bee ...

So, is it too late to get into the trade after this recent run. Joining me now is Lance Wilks, uh, Bernstein senior research analyst. Lance, is there more to this or is this just a belleaguered sector having a bit of a bounce.>> Well, I think it's certainly benefiting from a rotation right now, but I think this is really early innings. You've had about three years of underperformance in this space. You take a name like United, margins are about half of uh kind of normal levels and multiples are down 20 to 3 ...

I've only had a few brief interactions with Kathy. To me, um her private conversations that she's had with individual players um or lack of the conversations have led to some, you know, rocky relationship status uh with the players. And and the one thing that I think the W has always stood on is when the players speak, people need to sit up and listen.And I think she's sitting up and listening now. Um I hope she would have done it done it earlier. I don't know if if she can ever kind of regra retract and an ...

Uh Drew, uh obviously the market under some pressure here in part because of this switch back in the AI names, but uh the Fed is part of the story. I guess we at some point we're pretty sure Fed was going to be easing into a decent economy. How do you see that equation.>> Well, I think the Fed's talking about not easing into a faltering economy because I think, you know, the data that's come out that the housing data is just yet another kind of thing that doesn't make sense that the economy is as strong as ...

Venezuela Oil Sector & US Involvement - US military buildup off the coast of Venezuela raises questions about potential regime change or negotiation for Maduro's exit [1][2] - Chevron is the biggest American operator in Venezuela, highlighting US interest in the country's oil reserves [4] - Potential scenarios include a negotiated exit for Maduro, a Noriega-style extraction, or a Seal Team Six operation [2] Venezuelan Oil Production & Recovery - Venezuela's oil production has declined significantly from its peak of 4 million barrels a day to around 500,000 barrels a day [1][5] - Rebuilding Venezuela's oil infrastructure after Maduro's removal is seen as a way to reduce reliance on Iranian and Russian oil [5][6] - Degradation of PDVSA, infrastructure issues, and massive debt pose significant challenges to a quick recovery of Venezuela's oil sector [6][7] - Sanctions relief might yield a couple hundred thousand barrels, but a return to million-barrel-a-day gains is a long-term prospect [9] Global Oil Market & Investment - Oil prices are up slightly but still below $60, influencing the performance of oil and gas stocks [10] - Lack of investment in the oil sector suggests a potential bottoming out of oil prices in the longer term [11] - Sanctions on key Russian oil exporters, Rosneft and Lukoil, are scheduled to take effect on November 21st [12] - Spare capacity in the oil market is a key factor to watch, especially with potential US military operations in Venezuela [12]

Here to discuss it all is Renaissance Macros head of technical research Jeff Jeff Degraph. Jeff, uh, great to have you on. I mean, I guess we've seen these rotations before.Sometimes they're painless, sometimes they're more disruptive. Is anything getting knocked off course today in this action. >> I don't think of off course, Mike.Um, you know, I think actually what's interesting is some of these real real highf flyers, particularly in the Russell 3000, the quantum names and, you know, some of the uranium ...