Hurricane Ida's Catastrophic Damage and What's At Stake for the Energy Sector, The S&P 500's "Earnings-Led Melt-Up", Space-Related Stocks Soar and Plummet, While Two Stocks Skyrocket on Big Tech News

David Faber, Morgan Brennan and Mike Santoli kicked off the show with the latest on the damage caused by Hurricane Ida, going to a live report from CNBC's Valerie Castro on the ground in New Orleans, which has been hit by a power outage -- more than one million people in Louisiana and Mississippi without power as a result of Ida, which was downgraded to tropical storm status. The anchors and a Wall Street analyst discussed Ida's impact on the energy sector, with regulators saying that 95-percent of oil production in the Gulf of Mexico due to the hurricane. David, Morgan and Mike also looked at the market week ahead with the S&P 500 hitting fresh record highs. Veteran strategist Ed Yardeni joined the program to discuss what he calls an "earnings-led melt-up" in the S&P 500. Space-related stocks among the big movers: Satellite services provider Globalstar soared more than 60-percent following a report in AppleInsider that the iPhone 13 will have the ability to utilize satellite communications, while Astra Space shares plummeted after its rocket once again failed to reach orbit. Also in focus: Shares of digital payments specialist Affirm Holdings soar more than 40-percent on news of the company's partnership with Amazon, China to limit videogames for young people, how insurance stocks are moving in reaction to Hurricane Ida, the EU suspends non-essential travel from the U.S. due to the Delta variant outbreak, plus medical technology M&A: David Faber reporting that Baxter International is near a deal to buy Hill-Rom for $156 per share. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.