CNBC Daily Open: Nvidia's 'drop-the-mic moment'

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe  here .

Wall Street rally 
Stocks rose after Federal Reserve Chair Jerome Powell said the "time has come" to cut interest rates. The Dow Jones Industrial Average jumped 462 points, while the Nasdaq Composite and the S&P 500 climbed 1.47% and 1.15%, respectively. For the week, the Dow gained 1.3%, the Nasdaq 1.4% and the S&P 500 rose 1.45%. Meanwhile, the yield on the 10-year Treasury slipped, while U.S. oil prices rose more than 2% to move back above $74 a barrel. 

'The time has come'
Following Powell's indication of an impending interest rate cut, market attention has pivoted to the timing and extent of the reduction. Traders currently anticipate a quarter-point cut in September, with rising expectations of a more aggressive half-point reduction. The likelihood of a larger cut is gaining traction, particularly if the August jobs report reflects the weakness seen in July's figures. As the Fed's mid-September meeting approaches, CNBC's Jeff Cox cast an eye over the key economic indicators that could influence the final decision. 

Returning empty
Boeing's Starliner capsule will return from the International Space Station without astronauts. NASA astronauts Butch Wilmore and Suni Williams will instead return via SpaceX's Dragon spacecraft, extending their stay on the ISS by about six months. The decision follows issues with Starliner's propulsion system during its crew flight test. "We want to further understand the root causes and understand the design improvements so that the Boeing Starliner will serve as