>> thank you so much for being with us. we appreciate it. we appreciate it. so the dow is down about 40 points continuing a string of losses. thanks for watching power lunch, everybody. >> "closing bell" starts right now . >> thanks so much for watching "closing bell." the conference here in san francisco, california, schwab at's chief strategist liz ann saunders will join us. and ahead we will talk to the incoming ceo rick as well. in the meantime, let me show you the scorecard with 60 minutes to go in regulation and until the video reports. stocks are lower today although healthcare materials and energy have been higher throughout the day.

the losses are not big but nonetheless it's a bit of a down day for those sectors there. nvidia lower today as well. michelle bowman suggests progress on inflation has installed. we will talk more about that and that does take us to our talk of the tape. let's welcome chief investment strategist, liz ann sonders. let's talk markets. you say the momentum favors, correct? >> it does and momentum as an actual factor has been dominating and the good news is i get questions about doesn't this alarm you because the last time momentum was dominating as a factor was the late 1990s but the fundamental factors most highly correlated to momentum now are things like strong balance sheet versus in the late '90s the factor most

correlated to momentum were varying links. i do think there is a bit of frothing us that does not suggest a problem but it does mean if there is some sort of negative catalyst, the pain can be more serious. >> it is funny you say that because picking up a bit of steam, chris from strategic says equity flows are starting to bubble. one of the tactical rex we see percolating for early 2025 is sentiment. there is a reason why sentiment is positive and a reason why maybe sentiment has grown more positive since the election results. do you feel that, and is that justified? has that changed your view of the markets as a result of the election? >> i think what has been characteristic of this market that goes beyond the election because that started in mid july, we are in a backdrop of much more fierce rotations in a

relatively convinced period of time. they are really kicking it into high gear and i think that's likely to continue. i think increasingly as we get to inauguration and thereafter a lot of that will be policy driven. tariff driven. it will be a tricky environment to try to trade around sectors. i think there will be more sort of common threats at the factor level than the sector level. >> cyclicals over defensive spirit in other words, the things that have been working will continue to work. >> well, yeah, i think momentum will continue to do well but the rotations at times since mid july when this happened have at times been into the morgue defensive areas. healthcare is at the top of the leaderboard. i think we will have these fierce sector rotations and at times we will have money

heading back into the big names but at times based on skittishness in terms of an uncertain outlook with policy. we might see the classic defensive areas. it is not really broadening out in a traditional sense but there are these fierce rotations and i think that continues to be the name of the game and certainly the first half of next year. >> do you think nvidia tonight without talking about nvidia as a specific stop, does it have the potential to lead us back into the mega caps in a larger way, or underscore exactly what you're talking about, the dispersion that has taken place and a movement back to more economic areas like industrials, financial, things like that? >> nvidia is make or break. that is the nature of the popularity but it's not just nvidia now. we are seeing huge action in micro strategy. it is still that a.i.

story and i think if we can keep the momentum in the numbers that supports that theme within markets because demand outside of a.i. and tech is not great, so it is an a.i. story and you have the bellwethers that either allow that to persist or maybe throw a wrinkle in. i don't have an opinion on nvidia or their stock. >> sure. >> in terms of the cyclicals or manufacturing to rebound. that is at the mercy of the uncertainty of the tariff policy and we will not get that cleared up until at least the start post inauguration. we have to remember that in 2018, the goal obviously of tariffs is to boost domestic manufacturing but using the isil manufacturing index as a proxy, the index cratered. now we are in this lull at a

low level, so maybe you don't crater from here but it's hard to envision a left in advance of knowing what the tariff policy will be and i would apply that to capital spending too. there is a pause. businesses have been pulling back on capex and we don't clear up thatuncertainty for couple of months. >> what has been your take as you have watched somewhat characterized as the more speculative parts of the market, those things run crypto, for example. bitcoin is at 95,000 and has taken off since the election. is that a sign of frothy sediment? is that a sign of too much speculation? is a completely justified because of the policy changes that will happen in washington? >> on the regulatory side though we could make an assumption there will be granulation applied to crypto, we don't have the full answer to that yet. yeah, that is arguably one of

the more fundamental reasons we have seen that excitement there. but it also, i think, is indicative of some froth. it in the crypto space. the stocks a couple of years ago. as a sign of frothy sediment, it has to be in the potential risk column. you know, momentum carries until it doesn't and the downside of that is more severe than if you don't have that frothy piece of the recipe. >> how much of a wild card do you think yield to where the market -- we are obviously sensitive to movements that we have seen. >> yeah. >> i bring it up because the headline earlier today from bowman was about as hawkish as we have heard directly from anybody. certainly of that stature, the governor, who says inflation progress seems to have slowed. possible deterioration in the labor market.

i mean, while she is making the case she is an independent thinker on the board, that's pretty hawkish, right? if we are resetting our expectations for rate cuts at a time we are already having a backup in yields, how much of a risk do you think that is? >> i think -- you may know and i think we talked about this. we are in a very different secular era than the great moderation period, an era inflation is likely to be more volatile. that's not the same thing as saying inflation will stay high. there are bigger swings in inflation. looks a little more like the 30 years that preceded the great moderation, the mid '60s to the '90s. prices moved in the opposite of what was happening in the great moderation. we were more connected to what was going on. inflation moves up, reflecting inflation being let out of the bag again, negative for

equities and vice versa. i think yields connected to the growth trajectory without concerns about another look at inflation i think the equity market does fine and that. >> you're saying yields going up for the right reasons -- >> i think it would be a tougher digestion. it's really what that connectivity is, whether it's the growth connectivity or inflation connectivity it is a driver of the impact bond yields have on equities. >> there is probably though still a limit to which the stock market what except -- >> there a psychological and maybe more psychological than technical. i think 4 1/2 on the 10 year, next, 4.7 on the 10 year. there would be periods of indigestion. as we have seen somewhat recently. but beyond the short-term psychological triggerpoints, it's that what our bond yields connected to?

which side of the equation? >> you think the number of rate cuts matters for next year? >> no, i think it's the terminal rate that matters. you know, kathy jones, my colleague, she and i do a podcast. we did one earlier this morning and at least the next fed meeting, we are both in the pause camp. >> oh, for december? >> yeah, given what we know now. we've got important inflation reports between now and then and a jobs report between now and then but given what we know now i think there is a case the fed takes a step back and says let's wait. but again, that needle will move in terms of probabilities. we've got pc, pci, and the jobs report so tell me what those are going to read. i could say more definitively the fed will move or not. >> we will see. markets are obviously still

pricey in december and after that it feels like it is anybody's guess when we turn the calendar. >> yeah. >> we will see. liz ann sonders , thanks. that was liz ann sonders joining us from charles schwab. let's send it to kristina partsinevelos for a look at what to watch for. one hour, nine minutes, and a matter of seconds. >> it reflects a ramp-up in the black welches, the latest generation of new nvidia's chips using a.i. systems and what everyone is talking about spending money on. if that money does not hit the three billion-dollar consensus that tells there are issues. supply concerns have been looming over the past few months and that is why the stock has moved sideways but to drill it down even further, the whisper guidance number, you know, the number shared with clients? that is closer to $39 billion. last quarter nvidia failed to

hit that whisper number and the stock fell 6%. the number is higher this time around, 39 billion, to reflect blackwell sales. and another source of income for nvidia. a second enforcement number, margins likely to come down. are expecting 75% for q3 and a 73% for this current quarter. dropped because nvidia has to deal with lower yields of blackwell chips. it takes longer to ramp up for this complex system. you've got guidance and gross margins. any issues with overheating? we knew about that a few days ago. and if there is a plateau for large language models, another debate within a.i. world. it sounds really complicated but this quarter could be the least important quarter in two

years for nvidia as bank of america puts it because fundamentals are understood by a lot on the market. blackwell is expected to have full production in the april quarter, so that's coming. there are other things working in the market right now, not just nvidia. especially post-trump. it may be boring, as i saw in one note from a numbers perspective, but it will be important for the greater market impact given the at 7% weight in the s&p 500. >> do you get a sense about the overheating issue, that it is much to do about nothing? or is there the potential we will be more concerned about a supply issue as a result of that? >> two things. one, nvidia did damage control the morning the article came out with three sources. the ceo tweeted out they were excited about the shipments. some of the ships have already been shipped. nvidia will try to overplay the overheating problem if there is

a problem. the second part, the analysts are checking out the suppliers, asking if you're eeing overheating, and the vast majority are saying it is not necessarily an issue because the full ramp-up of the chips are supposed to happen in april, not right now so they have a little bit of time before you may see any kind of impact to revenue slowdown. again, that's why we're calling this boring right now. >> yeah. good insight and perspective there, kristina. thank you. that was kristina partsinevelos. let's bring in capital area planning group and odyssey capital advisors. both are cnbc contributors. jason, i will go to you first, the shareholder here. what are your expectations going in? are you concerned in any way? >> no. i'm excited, scott. one of the things exciting to me, this stock has ad seven

great triple plays. yes, as kristina said, we are expecting 83% revenue growth year over year and a double on data centers. i think it is about going forward. the whisper number as kristina mentioned is 37 billion. i think they will be above that number which will be positive for the stock and i think the market is really leaning into this because there has been a bit of digestion since the trump let's in the market. going forward, this could be the next catalyst for the rest of the year. i think we will be solid and i think we will see our eighth triple play for nvidia. >> let me ask you about the whisper number because whenever you talk about a whisper number, it means expectations are incredibly high, right? you are not just able to reach the number set by the street. you have got to reach an even higher number and they've been able to do that.

you beat on high. let's not forget these stocks as a group have stopped trading like a model list. this stock extended it from the others which i would say makes the bar even higher. >> 100%, scott. another interesting note, if you are moving from the semiconductor index, you know, nvidia is up 190 plus percent. that is down 4%. you can see amd, lam research down and not trading as well, so yes, the bar is high for this stock moving forward but we have heard from the hyperscalers throughout the year , it's not slowing down. we continue to see that by continuing to raise our spending and all of the beltway's lead back to nvidia so i think this will be a

strong quarter and the next quarter will be even stronger and that is what we are excited about. >> you look at these stocks, malcolm, you have the mega cap your self. you don't own nvidia or microsoft. you are one of the few investors who have come on the show and you don't own the whole basket. why not? >> i think jason and everyone else on the network today has made a strong case for why nvidia can continue to go to the moon, right? you have to consider he mentioned all of the spending happening in the name -- all of the spending happening from all of the hyperscalers, some of that is going to creating chips internally that will compete with nvidia, right? the moment we get a headline for microsoft or anyone else that they have a chip the same level of power for half the price, more eco-friendly and blah, blah, blah, they own half

of nvidia's market sure. >> how realistic is that to happen anytime soon? >> very realistic when you consider how much money is being spent by amd. you've got google on their roster, microsoft on their roster, amazon on their roster. all of those companies are working on separating themselves from nvidia and nvidia is focused on four names. four hyperscaler names. >> we do have some breaking news in the sentencing of the founder. steve kovach has that for us. steve, what have we learned? >> reporter: yes, he has been sentenced to 18 years in prison. this happened moments ago in new york handed down by a judge. the prosecution was looking for 21 years in prison. he's allocating 18 and of course the defense recommended no jail time on the idea he would not be a repeat offender. there you see him walking into court earlier today, scott but 18 years for bill hwang .

scott? let's get back to our conversation. i said earlier these stocks are not trading as a group or monolith anymore. they have differentiated themselves but how much of the results denied will change moving forward? >> i don't know if everyone will pin the mega cap tech names to nvidia. it's a foregone conclusion that nvidia will do well, right? the market has given us something like 8%. >> 8.5% either way. >> from what we have seen to this point, the whisper numbers you are talking about, it will probably be to the upside and that tells us 144 price point today, after hours trading north of 155, that is an extremely attractive exit point and a place to start trimming that position for folks who are

literally trading momentum, not the folks holding onto that for dear life. >> jason, you have apple. you have amazon. you have nvidia, as we said. you have microsoft and alphabet. what is riding on those stocks tonight? >> yeah, i think malcolm makes a great point and you as well. they absolutely do not trade as a monolith. every company has a different story to them and of course i own most of them with the exception of meta and i think going forward with his new administration part of the story and the theme that has been playing out is deregulation. what will happen with the doj? there was news about google and the decoupling of chrome and what this could potentially look like for this stock. that is a google story and there are stories for the rest of them. as large labor models continue to grow and we see software and the use cases and we have seen

the software stocks move over the last couple of weeks i do think the hyperscalers do well going forward because i just think that technology and a.i. is still the story. i don't necessarily think we will see the growth as we have seen over the last two years but i think they deserve a mainstay piece in your portfolio going forward. >> malcolm, what about the rest of the market and the idea if there is this new optimism around a new administration, dealmaking, stronger economic growth, it'll be better for stocks? things that have worked will continue to work. industrial, other areas. what do you think? >> that harkens back to the trump train. all of the names that were going up in the right direction are based on the regulation will be great for energy, and healthcare, but i think more and more importantly we need to look at individual names.

i name that i was thinking would be really important tonight is palo alto. they will have more upside next year more than nvidia will. i know that is a bold statement and i'm crazy to say it but if you look at an administration extremely hostile to china and you look at how much action there has been with our important infrastructure from a cyber defense perspective, palo alto will be very important in helping to protect that. i can imagine the federal budget as to increase exponentially. palo alto has the highest number of contracts right now. all of that annual recurring revenue from the fed will flow to palo alto so i think that is a more attractive story than the others we're talking about from the incoming administration. >> jason, you are in this space. you have palo alto too, don't you? >> i do and i love everything malcolm just said. from the platform strategy to their reoccurring revenue model

i think it'll be fantastic for the stock. it's up 31% year to date. we have been talking about a.i., cyber's will absolutely play a significant role as it relates to all capex is spending and those models continue to grow. yeah, the wars we are fighting today our data wars, right? cybersecurity continues to play a role there. i absolutely agree with the fact there is space in the government business and if government spending continues to move forward, you know, palo alto will continue to take value and appreciate as a result. >> we will leave it there. i appreciate you very much. jason, we will see you when nvidia delivers an malcolm, i know we will see you soon. we are just getting started. up next, incoming charles schwab ceo rick wurster is here to talk about growth for the company. he will join me after this

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welcome back. we are live in san francisco. i'm joined now by rick wurster, charles schwab 's president and incoming ceo. >> nice to see you, scott. >> you've got about 4500 attendees. what are you hoping to accomplish here? >> when we gather here, it feels more like a family reunion than a business conference. our industry is aligned on making a big difference in the financial lives of the clients and we get together once a year to talk about how we will continue the progress and success we have had. >> let's talk about how you are

going to do that. you will take the helmet from walt. how will you differ? >> i've got big shoes to fill. chuck schwab and walt bettinger. when walt took over the company, we were an $18 billion company in today, $140 billion company. the story is one of continuity. >> which part of the company o you see as the biggest road for opportunity moving forward? >> we see growth all over the firm. supporting independent advisors, we seek an opportunity there. we see an opportunity to help with their lending needs, anything we can do to help a client on their financial journey, that is what we are committed to do. >> a bull market for advice. you are not the only ones who

see that. the landscape is becoming more competitive and more rowded. i spoke earlier with john, from your advisory services. we talked about the upstarts after the incumbents, like you. robinhood did a deal yesterday. how do you view the landscape increasing forward and what does that mean for you? >> we invite competition. what we care about is the success of the everyday investor. the more competition, the more that forces great outcomes for clients. we have been in the business since 1987. no one has been more committed to the community then we have. in that time since 1987, we've seen lots of new efforts. they come in and are attracted to the growth of the independent channel but they realize the platform we have built, the capabilities we have, and how much it'll take to invest. we don't charge any fees for

all of that. so often there are exits. we have seen a lot of people come in and out of the industry but we have been there consistently since 1987. >> let's talk about the issues facing the company at least as the analyst community on wall street sees it. i've seen a number of notes out recently which seem to be still concerningr cash sorting issues. customers who are cash sweep, moving from lower yielding and higher-yielding accounts for you to higher-yielding accounts which are not as profitable for you. read burn atlanta today reiterate their rating and say they remain cautious on that issue. bank of america reiterates underperformed on schwab and they'll talk about that issue. is it -- how big of an issue do you see that for the company

going forward and what do you need to address to turn some of those negative ratings on your stock into more positive ones? >> first as it relates to cash, the ones helping clients transition banks sweep to money markets to where they can earn higher yields is us. the last 18 months we have been out there telling our clients to get a higher yield for fixed income because ultimately we want what is best for the client and if we do right by them we will succeed as a company and helping them achieve their goals. >> but you make less money on that move. >> we do make less money and that move but we make lots of money across the business. we consistently have 40% margins. we believe we see a bottoming of cash levels. what we want in bank sweep is truly transactional cash. what individuals need on a day to day basis for their stock purchases or whatever they need

that cash for, we want investment cash to be in a place it can earn the highest yield and we think we have that relatively balanced. in the last two months, we've seen our bank sweep balances grow. we have been at those levels and we are seeing stability. >> what happens if interest rates remain higher for longer? yield have obviously backed up potentially leading some to move to higher-yielding accounts . >> our cash sweep has grown the last few months and we remain in a high interest rate eriod. at some point there is a level of transactional cash clients need in their account in order to live their life and that amount of money is regardless of where rates are and we believe we are at that position or near that position and that is the behavior we are seeing from clients. >> are leslie picker interviewed the golden chair today and sounded optimistic about doing deals under the new administration. what is your view on what the

markets will look like with the new trump administration? >> two-thirds of investors were bullish on stocks and 65% were bullish on the economy. what we are hearing from our clients and what we are seeing in the market is for the future. >> what about your own view? >> well, i was listening to the experts and they're very optimistic about our business. our business is growing steadily. number one or number two in the fastest-growing segment of our industry. we are focused on serving our clients and we do that exceptionally well. >> do you think it is consolidation in your industry? is it done? if not, will the environment be more conducive to it under this administration? >> well, i don't know if consolidation is done. smaller competitors will likely need to combat -- consolidate.

it is something we continue to lean into as well. >> we will see what happens. rick, i appreciate your time. >> thanks for having me on. >> best of luck to you in the new year. up next, bitcoin's run and what that means for the crypto space. that's next from the schwab expo. (♪♪) everyone has goals and dreams. and everyone deserves a way to get there. wherever you're going, getting there starts here. state street invest in your future with dia, the only etf that tracks the dow. (♪♪)

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about 20 minutes until the closing bell. bitcoin on a tear almost $95,000 now. let's send it to mackenzie stegall us for more. it has been unbelievable to watch since election day. >> it is, scott. near $95,000 as wall street launches more ways to bet on it coin. going live on the nasdaq and this week the big unlocked institutions have been waiting for. galaxy digital's training team says they have observed options listed on the nasdaq on tuesday with notable trading activity extending to january, 2027, the midpoint of donald trump's term. 80% of options day one were orders to buy bitcoin meaning investors are expecting further upside to the trade. and blackrock's $44 billion is

just the first offer options. other providers are set to list this week and creating a new margin framework for bitcoin where you can hedge positions and make leveraged bets is how you amplify your returns which is a big draw to retail and institutions. it coin's fresh all-time high as the president-elect is considering adding a crypto position to the white house, the latest in a string of bullish promises. crypto has surged since trump's decisive win. bitcoin funds holding over $15 billion, scott. >> we will see what happens too. it will be interesting to watch this between now and the end of the year to see what kind of levels we could reach. mackenzie sigalos with the latest there. up next, we're tracking the biggest movers. kristina partsinevelos is standing by with more.

kristina? >> shoppers are cutting back but others say sales are great. why the difference? we discussed next. to go further, >> the bond report is brought to you by pimco, a global leader in active fixed income. ec e u.s. gulf of mexico. our latest deepwater development, anchor, produces previously inaccessible oil and natural gas, allowing us to deliver the energy we all need today so everyone can follow their own road. that's energy in progress.

approaching 15 minutes before the closing bell. back to kristina now for a

look at the stocks she is watching. >> the biggest earning with shrinking profits and investors are punishing target. shares are on track for their third worst day ever after the retailer cut its forecast heading into the critical holiday season. despite their lower prices people just aren't spending as much when they shop and affordability is still a major concern for consumers. shares are down 22%. in the meantime, williams- sonoma record close after it lifted its guidance. literally the opposite of target. the home goods retailer saw improving sales after a difficult environment. shares up 27%. and tune in to mad money for an interview with laura alber later on this evening t 6:00 p.m. scott? >> thanks, kristina partsinevelos. still ahead, stacy rasgon is

here, and what to exctpe for snowflake earnings at the top right after this break.

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care. growing old is part of the journey, even when you have heart failure. but when he had shortness of breath, carpal tunnel syndrome, and lower back pain, we wondered, could these be warning signs of something bigger? thank goodness we called his cardiologist because these were signs of attr-cm, a rare and serious disease... ...that gets worse over time. if you see any of the warning signs, don't wait, ask your cardiologist about attr-cm today. all right, coming up next, we set up for nvidia earnings in almost 30 minutes. acra0 thereabout. sty sgon standing by for everything you need to know in

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waiting for the next incremental thing. as the broad market is churning and rotating around trying to stay above the election day close mama which is where we are now by a couple of percent, there is this adrenaline junkie type action going on and in more speculative parts of the market, look at apple's strategy and lemonade. obviously the crypto excitement but it seems as if one part of the market has the speculative juices flowing and the rest is just kind of hanging out in a very, very benign way just trying to consolidate and wait for the next fundamental movement. >> when you think about what nvidia will mean, what are your thoughts on that? >> mechanically the market is applying an 8% move.

that is what the market says right now. that is 7% of the s&p. 8% is material to the overall index and i think it is also about, you know, confirming timelines and the roll out of the next generations. all of that ill get penciled in to the outlooks which we have some degree of the capex sources on all of this stuff so it matters a lot but in the short term more tactically and in the long term. meanwhile outside of nvidia, semis have had a rough patch so you wonder what they will have to say. >> no, that is a good point you make. i will come back to you in a moment. let's bring in stacy rasgon, star analyst . good to have you with us. most important thing going in is -- what? >> both the corner and the guide . that is all that has mattered for nvidia for quite a while. that is what matters. to build on that number, as you

alluded to, blackwell is supposed to start in q4. to see where that can go into the beginning of next year, the crossover cabins from hopper to blackwell and the other thing we will be watching, gross margins. that was the issue last earnings and it suggested gross margins were taking down a bit because of the new platforms we were watching. they were complicated. people wanted to get some comfort that the gross margins are not going down too much and importantly as the platforms ramp up, they are going down even further. in general, what is that data center number? where today pin that data center number at the end of the year? people are trying to shape their 2025 estimates. >> the whisper number, $38.5 billion maybe? how significant are you

thinking about this overheating story, and how meaningful if at all may it be? the work you've done on it yourself, what can you share with us? >> it does not look meaningful at all. look, that article came out and suggested there were overheating issues at a level that could potentially cause delays down the line. not long after it came out, others put out their own announcements. there were news report yesterday that suggested that issue was old news anyways. you have to remember we have these new platforms and they are very complex. things like this will always happen. was it something out of the ordinary? was it more normal? it seems more normal and like an issue that was long settled anyways, so it does not seem

like a problem. i'm not too worried about that. >> we will see what happens. stacy, i appreciate your time as always and we will talk in the days ahead. stacy rasgon on that report. and let's not forget about snowflake tonight. >> investors will be looking at two things. are more companies migrating workloads into the cloud? if so, are they willing to pay a premium? in other words, his pricing holding up amid petition from the likes of microsoft? snowflake has gone to a big underperform or in the software sector prompting the ceo to leave in february. the goal now for ramaswamy is to convince wall street they are benefiting from the a.i. craze and according to data snowflake is in talks with anthropic about getting customer access to its large language models.

that would be about of confidence. the stock is down 35%, scott. >> we will look forward to that one too. seema mody, thank you. quick programming note, join me on a halftime report at noon tomorrow. that will be big as well. mike, think about what is going to blow this market in either direction and i thought it was interesting at the top of the show to bring things full- circle, liz ann sonders said, do you know what? i think a pause in december. maybe that is more important than anything because rates have backed up. the markets have been sensitive to say the least and now if you will start getting a critical debate in that room about the number of cuts we get in a new year, it makes things a lot more interesting. >> right. it does. if the data are ambiguous enough in the next few weeks where it feels as if december is 50-50 or you start getting fatter rhetoric trying to lay the

groundwork for a pause, it does suggest we are in this limbo state. it is not that the market can't handle rate cuts. we've already done that near highs. it's this period of we don't quite know how the policy priorities will be set. you are not exactly sure about, you know, where yields will go in a less rate cutting environment. it is creating a bit of a shadow. again, fourth quarter tailwind should be in place. there was not much beyond the initial burst but a ton of rotation under the surface, so i do think you do have the makings for a little bit of a rethink happening on an ongoing basis. again, the market itself is not doing anything in the way of missteps but we were already up 22 times earnings, 25 since the beginning of the year. you may need to focus on the

positives rather than the absence of the negatives to get us appreciatively higher from here. >> we will see what happens with nvidia. michael santoli, our senior market commentator. thank you. nice little move into this close. [ bell ringing ] all roads lead to nvidia. i i'll send it into "overtime" with morgan and jon. well, that bell marks the end of regulation. out front ringing the closing bell at the new york stock exchange, nesr doing the honors at the nasdaq and it's a mixed close as the major averages bounce well off their lows with attention now turning to the crucial earnings results from, yes, nvidia. coming in just minutes this hour. that is the scorecard on wall street, but winners stay late. welcome to "closing bell: overtime." i'm jon fortt at cnbc headquarters. >> i'm morgan brennan, joining today from washington. buckle up for one of the most important ho e