Does July’s weak jobs report change the Fed’s rate path? OpenAI is pausing the rollout of its upcoming model due to “cyber capabilities.” Plus, the data center economy and the three sectors our market guest is bullish on because if it.<br><br>Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Weak Jobs Report, AI Model Fears, and the Data Center Economy 8/7/26

The Exchange

Thank you very much, Scott. Stocks are rising to close out a strong week. Following today's worse than expected jobs report, I'm Kelly Evans and welcome to The Exchange. The Nasdaq jumping 4% this week as the semis rebound. The Sox ETF up 7%, while software and cyber names are breaking out as well. And that is offsetting the memory slump. The DRAM ETF is now 40% below its late June highs. Copper and gold also making big moves. Gold up 5% for its best week since January.

While copper hit a new all-time high, Dan Juergen is here to explain and weigh in on that. And the surprisingly soft jobs report. The odds of a rate hike are now falling after the U.S. lost 23,000 jobs last month. And that's where we begin today. While this morning's report was disappointing, it also showed a lot of losses in areas like leisure, perhaps post-World Cup, and local government that may be seasonal one-offs.

We have CNBC senior economics reporter Steve Leisman here to explain, along with KPMG chief economist Diane Swank. But Steve, before we get into that, we have some breaking news on the Federal Reserve. What's happening? Yeah, well, it just broke. ABC News is reporting that the administration has sent Lisa Cook, the Fed governor, a letter saying they're considering removing her and asking her to respond to allegations of alleged mortgage fraud that, by the way, they have not charged her with.

And she has in the past denied. Obviously, the Supreme Court ruled that the president was not within his rights to fire her last year. I guess that was perhaps earlier this year. And saying that among the failures in the president's actions was not giving her notice.

Weak Jobs Report, AI Model Fears, and the Data Center Economy 8/7/26

Read the full transcript

The candid version is on a podcast,
not the earnings call.

Weak Jobs Report, AI Model Fears, and the Data Center Economy 8/7/26

Read the full transcript

The candid version is on a podcast, not the earnings call.

The candid version is on a podcast,
not the earnings call.