Jobs Report Reaction, Software Surge, Back-to-School Stock Picks 8/7/26

The major averages are moving higher across the board despite the dismal jobs report as investors believe the Fed will be forced to keep rates on hold for now. Dominic Chu and Kelly Evans break down the odds of a September rate hike with Wells Fargo’s Tom Porcelli and recap software’s recent rally with Citi analyst, Fatima Boolani. Later on, Telsey Advisory Group CEO, Dana Telsey, joins the show to lay out some of her top stock picks for the back-to-school shopping season as the NRF expects a record-setting stretch of spending this year. Meanwhile, CNBC’s Phil LeBeau chats with the anchors about the latest car buying trends as more consumers shift to more mainstream brands.