CNBC Daily Open: Vance wouldn't call the Iran war a 'war'Skip NavigationMarketsPre-MarketsU.S.
MarketsCurrenciesPrediction MarketsCryptocurrencyFutures & CommoditiesBondsFunds &
ETFsBusinessEconomyFinanceHealth & ScienceMediaReal
EstateEnergyClimateTransportationInvestigationsIndustrialsRetailWealthSportsLifeSmall BusinessInvestingPersonal
FinanceFintechFinancial AdvisorsOptions ActionETF StreetBuffett ArchiveEarningsTrader
TalkTechCybersecurityAIEnterpriseInternetMediaMobileSocial MediaCNBC Disruptor 50Tech GuidePolitics & PolicyWhite
HousePolicyDefenseCongressExpanding OpportunityVideoLatest VideoFull EpisodesLivestreamLive AudioLive TV ScheduleCNBC
PodcastsCEO InterviewsCNBC DocumentariesDigital OriginalsWatchlistInvesting ClubTrust PortfolioAnalysisTrade
AlertsMeeting VideosHomestretchJim's ColumnsEducationSubscribePROPro NewsJosh BrownMike SantoliCalls of the DayMy
PortfolioLivestreamFull EpisodesStock ScreenerMarket ForecastOptions InvestingChart InvestingSubscribeLivestreamMenuMake
ItselectUSAINTLLivestreamSearch quotes, news & videosLivestreamWatchlistSIGN INCreate free
accountMarketsBusinessInvestingTechPolitics & PolicyVideoWatchlistInvesting ClubPROLivestreamMenuDaily OpenCNBC
Daily Open: Vance says he would not call Trump's war with Iran a 'war'Published Fri, Sep 4 20262:16 AM
EDTLeonie KiddWATCH LIVEKey PointsU.S. Vice President JD Vance says he would "not call it a war" with Iran.
Vance also calls on the Federal Reserve to lower rates. The August jobs report is expected to show 53,000 roles added
over the month. Volkswagen board approves restructuring plan that will see another 50,000 roles cut. In this
article.DJIVOW3-DEFollow your favorite stocksCREATE FREE ACCOUNTU.S. Vice President JD Vance speaks during a news
briefing in the Brady Press Briefing Room at the White House on September 03, 2026 in Washington, DC. Kevin Dietsch |
Getty ImagesHello, this is Leonie Kidd coming to you from London. The midterms are looming, and the war with Iran has
become a key campaign issue as voters go to the polls.The state of the economy and the jobs market will also determine
how voters approach this election, due to be held on November 3.U.S. Vice President JD Vance has weighed in on both
overnight, and the response has been mixed. Read on for more.What you need to know today"I wouldn't call it a
war." The words of U.S. Vice President JD Vance when asked if America's conflict with Iran would be over
before the midterm elections in November. "Right now there is no active shooting. I recognize there's been
places where this has flared up," he said, while declining to provide a timeline for when hostilities could cease.
His comments drew sharp criticism from Democrats, with Congresswoman Yassamin Ansari taking to X.com to describe it as
"profoundly disrespectful to the loved ones of the 18 American service members who've died for Trump's
war of choice."On Thursday, President Donald Trump himself called it a war, in a Truth Social post saying,
"the people and Media Outlets that keep harping on the fact that we have no ammunition (And they are 100% wrong!),
are actually treasonous. They do it because they would rather see the United States LOSE a War that we're easily
WINNING, than see me WIN!"Rate pressureVance also weighed in on the path of interest rates, saying he believed the
Federal Reserve should be lowering rates, adding, "we're doing a lot of things to try to keep those interest
rates down, but it would be nice to have some help from the Federal Reserve."The Fed is due to hold its next
rate-setting meeting on September 15-16. Last week, Chairman Kevin Warsh said he is committed to bringing the inflation
rate back down to the Fed's 2% target and sees interest rates as the key tool to rein it in.Watch Squawk Box
Europe for the view from Allianz Chief Economic Advisor Mohamed El-Erian, catch that interview here. Jobless summer?The
big data point for Friday will be the August jobs report. Nonfarm payrolls are expected to increase by 53,000 following
what is being called a "jobless summer." The figures for last month, alongside weaker counts for June and
July, suggest a labor market that is in a low-hire, low-fire pattern. Ahead of that release, U.S. futures are little
changed after a relatively flat session on Wall Street on Thursday. VW's drastic changesIn corporate news, the
board of German auto giant VW has approved a large-scale restructuring plan which will include cutting another 50,000
jobs. The massive reset comes as the group tackles competition from China and the impact of trade tariffs.Earlier this
week, CNBC spoke to VW's union representative; catch that interview here. — Leonie KiddAnd Finally...Revenge of
the ‘Magnificent Seven’ — Jim Cramer says it’s time to buyCNBC's Jim Cramer said Thursday it's time
to revisit the "Magnificent Seven," declaring that months of underperformance have made many of these former
market leaders too cheap to ignore."We're witnessing the revenge of the Magnificent Seven and most people
don't even seem to know it," the "Mad Money" host said. "I think it's time to
buy."Stocks like Dell and Snowflake have surged this year, while many of the Mag 7 have fallen behind — even
trailing the overall market as measured by the S&P 500′s year-to-date gain of 13%.With the exception of Apple,
Cramer said Amazon, Alphabet, Meta, Microsoft and Tesla have become relative laggards as investors gravitated
toward newer winners. Nvidia, like Apple, is beating the market, year to date, but its price-to-earnings multiple is so
cheap that Cramer lumped it in with the rest."We have to go back and pick at this market's old leadership, the
forgotten Mag Seven, because a lot of them have gotten real cheap," he explained.— Alexa LoMonacoChoose CNBC as
your preferred source on Google and never miss a moment from the most trusted name in business news.More In Daily
OpenCNBC Daily Open: Washington's house is divided over interest ratesLim Hui JieCNBC Daily Open: 'Trump
Strait', losing streak snapped and bilateral diplomacyLeonie KiddCNBC Daily Open: U.S.-China meeting in focus while
Trump wants to rename the Strait of HormuzJustina LeeRead MoreSubscribe to CNBC PROSubscribe to Investing ClubLicensing
& ReprintsCNBC CouncilsSelect Personal FinanceJoin the CNBC PanelClosed CaptioningDigital ProductsNews
ReleasesInternshipsCorrectionsAbout CNBCSite MapPodcastsCareersHelpContactNews TipsGot a confidential news tip? We want
to hear from you.Get In TouchCNBC NewslettersSign up for free newsletters and get more CNBC delivered to your inboxSign
Up NowGet this delivered to your inbox, and more info about our products and services.Advertise With UsPlease Contact
UsAd ChoicesPrivacy PolicyYour Privacy ChoicesCA NoticeTerms of Service© 2026 Versant Media, LLC. All Rights Reserved.
A Versant Media Company. Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and
Financial News, Stock Quotes, and Market Data and Analysis. Market Data Terms of Use and DisclaimersData also provided
by