A Chip Dive, Tax Ideas, & Price Tags in Tennis 9/4/24

Squawk Pod

CNBC

Business News, Investing, Business, News

4 • 494 Ratings

🗓️ 4 September 2024

⏱️ 31 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

The Department of Justice has issued a subpoena to Nvidia over antitrust practices; shares of the chipmaking giant fell 9% in the session, losing more than any company ever has in a single trading day: $279 billion. Democrat and Harris Campaign surrogate Rep. Ro Khanna (D-CA) discusses ideas to reform the U.S. tax code, including taxing loans related to unrealized gains. Rep. Khanna’s district includes Silicon Valley, its trillions of value to the American economy, and their many wealthy leaders. Elon Musk’s fight with Brazil continues, as does the contractual dispute between DirecTV and Disney, keeping many customers in the dark. Plus, the U.S. Open is underway in New York. Tennis coach for Coco Gauff Brad Gilbert steps off the court to cheer the many Americans in this year’s tournament–and to discuss the ever-rising costs of the iconic Honey Deuce cocktail. Rep. Ro Khanna - 14:08 Brad Gilbert - 27:18 In this episode: Becky Quick, @BeckyQuick Joe Kernen, @JoeSquawk Andrew Ross Sorkin, @andrewrsorkin Katie Kramer, @Kramer_Katie

Transcript

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0:00.0	Bring in show music please.
0:03.0	Hi, I'm C. NBC producer Katie Kramer, today on Squawk Pod.
0:09.0	Taxes, yours, mine, the 1%'s, shaping up yet again to be a key election talking point
0:15.8	Democrat Rokana joins us the Silicon Valley rep weighs in on reforming the tax code and
0:21.6	what it'll do to innovation in his neck of the woods.
0:24.6	If you really want the entrepreneurs to be forced to sell their companies to larger institutions
0:30.8	and to decline in value, I just, I don't think that that's what you want for a startup ecosystem
0:36.3	and the US Open is well underway tennis coach for cocoa golf Brad Gilbert shares the most
0:41.4	exciting parts of the 2024 tournament.
0:44.1	On the men's side, this is the first all-American semi since 2005.
0:52.0	Plus market meltdown. Invidia's 9% 2005. a lot of stories in today's episode. None of them are boring.
1:04.0	It's Tuesday, September 4th, 2024.
1:07.0	Squawk Pod begins right now.
1:09.0	Stand back you by in three, two, 1, QA, please.
1:14.6	Good morning everybody, and welcome to Squack Box right here on
1:17.8	on C NBC.
1:18.5	We are live from the NASDAQ Market site in Times Square.
1:21.4	I'm Becky Quick along with Joe
1:22.6	Kurnen and Andrew Ross Sorkin and yeah it's been a... The first
1:27.4	trading day of September in the books.
1:32.0	The chips having their worst sessions since March 22. The over 600 points, the NASDAQ down over 3%, and the S&P had its worst day since August,
1:47.0	falling more than 2%. The market sell-off compounded by news that the Department of Justice
	...

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