US markets (^DJI,^GSPC, ^IXIC) are off to a rocky start in September after posting their worst day since early August.
Nvidia (NVDA) shares are under pressure after Bloomberg reported the Department of Justice has subpoenaed the company in an antitrust probe. Shares plunged yesterday, losing about $279 billion, the biggest intraday drop in market capitalization for a US stock in history. The chip sector has been under pressure after Nvidia’s earnings also disappointed investors despite posting a beat on both the top and bottom lines. Trending tickers on Yahoo Finance include ZScaler (ZS), GitLab (GTLB), and Clover Health Investments (CLOV).

Key guests include:
9:00 a.m. ET – Jeffrey Kleintop, Charles Schwab Chief Global Investment Strategist
9:45 a.m. ET – Brian Robins, GitLab CFO
10:00 a.m. ET – Mike Reynolds, Glenmere VP of Investment Strategy
10:20 a.m. ET – Bill Baer, Former Assistant Attorney General of the Antitrust Division, Brookings Visitor Fellow
11:00 a.m. ET – Christian Magoon, Amplify ETFs Founder & CEO

Gov. Jeff Landry has asked the Louisiana Board of Ethics to waive a $100 fine for filing his 2023 annual campaign finance report late by one day in February. 

The request comes a few months after the governor, who has been at odds with the ethics board for years, signed a law that gives him more control over picking ethics board members.

Landry’s spokeswoman in the governor’s office, Kate Kelly, said his campaign submitted the report in question on time, but it failed to transmit. When the ethics staff sent a notice the following day saying it had not been filed, the campaign submitted it again.

State law requires the ethics board to automatically fine candidates for major political offices $100 per day when they turn in campaign reports late. Landry is disputing that he missed the initial deadline. 

“I hope one day the Illuminator can report on stories that actually matter to the people of Louisiana,” Kelly responded in a text message to questions about the fine. 

Earlier this year, Landry signed a  new law to reduce a similar late fee for local government candidates and legislators when they miss campaign finance report deadlines. The law change wouldn’t affect the penalties Landry faces as governor but lessens overall collections for this type of violation. 

The $100 fine is also just the latest in a string of conflicts Landry has had with the ethics board.

The governor is in an ongoing legal dispute with the board over whether flights he took as attorney general on a political donor’s plane should have been publicly disclosed. In 2022, the board also reprimanded Landry for using his campaign funds to pay his car loan. 

Another new law that gives the governor more freedom to appoint who he wants to the ethics board will take effect in January. 

The current board is scheduled to vote Friday on whether to waive Landry’s $100 fee.

Broncos owner and CEO Greg Penner is adding to his league portfolio.

Penner was added to the NFL’s finance committee late last week, a league source confirmed to The Denver Post, making four committees that the Denver owner now sits on.

Penner recently helped a special committee on ownership rules come to a recommendation that the league allow a small set of private equity firms to take up to 10% stakes in teams. Not long after the meeting that led to that rule change, the Walmart chairman joined the league’s finance committee.

Penner also sits on the league’s compensation and business ventures committees while Carrie Walton Penner, his wife and fellow Broncos owner, is on the NFL’s diversity, equity and inclusion committee along with the NFL Foundation.