in the netherlands, preventing one of the world's biggest makers of chip—making equipment, that is asmlxporting without a licence, something china has complained about and analysts have said would only make us—china relations worse. a little earlier i spoke to james early, chief investment officer at bbae, a digital investment company — and asked him what he hoped would be achieved from these talks. john kerry went to china, got almost nothing. janet yellen went to china and got almost nothing. antony blinken went to china, got basically nothing too. maybe fourth time's the charm. i'm hearing already that both sides have agreed to some sort of biannual twice a year commerce meeting, which is, i would say, a bare minimum for something successful. broadly speaking, though, it's not good optics for the chinese side. i don't think the us side realises this, but we've sent four different people now to china and they've sent no one back to the us we've invited wang yi. he hasn't come yet. so we're looking, i think the next couple of weeks are going to show china's true response for this. but

export controls kick in in the netherlands, preventing one of the world's biggest makers of chips, asmlom exporting without a license, something china has complained about and analysts say would only make us—china relations worse. this comes as president biden prepares to visit vietnam. along with the united states trying to increase production at home, vietnam is seen as an alternative destination for the united states to outsource manufacturing, rather than putting all of its eggs on the one basket that is china. the country is having a hard time maintaining its status as the world's manufacturing hub, making it all the more difficult to bounce back after the pandemic. trade policies have also become a problem between economies. raimondo said it was profoundly important to have stable ties but the asian trade centre says it is unclear what beijing's position should be during this visit. from the chinese perspective it is unclear what exactly they expect to do and what it is that they should be delivering or how they might orient themselves differently that would satisfy american deman

is gaining leadership but the moves it has made with asml, the leading edge process capabilities have put china on the defense and they have used some of the different components for semi conductors to hold against the u.s.. i see the move that is largely going to be ok with intel. you can take something like a global foundries deal, at least a consideration of that because global foundries exited significant participation in china so there is another opportunity there and if someone wanted to go shopping, that can happen without needing china's approval. i think intel will win the markets, they are going to adore intel more if intel can win at the leading edge. the lagging edge has caused issues in the supply chain but i am not as negative on this. the right partnership could end up being a winner. ed: the benchmark intel sets itself with is ts. mc. daniel: the acquisition of tolerance is not going to immediately make intel on the same plane as tsmc as a global foundry. it was a step forward and gave them a complete set of capabilities. i have spoken to someone who said it is a multi

we are watching the stoxx 600 fade, the asml is emblematic. this is the company that makes the chips, of the equipment that makes the chip elements. that seems to be the narrative. we are waiting for powell. always been under pressure, the metals under pressure as well. it doesn't feel the euphoria we saw last night. it definitely builds that we are looking towards powell now. alix: here in the u.s. you are seeing stocks rollover. it is easy to blame the nvidia story. how much more awesome can it get. therefore we are off the highs before. i think it's dollar tree that is the worst performing stock in the nasdaq 100 which is off a full percentage point. theft, margins, sales outlook it was pretty bad. the economy consumers rolling over you'd think the likes of dollar tree would do really well. but it is not. guess is doing well. some of the retail, abercrombie & fitch that you would not necessarily expect. macro picture yields higher, dollar higher. the higher dollar pressuring, it leads me to wonder what is the hedge into tomorrow? guy: i thi

here is the chip makers in europe which are trading firmly this morning asml is up 3% this morning insia, the reaction in the chip makers overnight with green across the board there as well nvidia shares lifting the chip making space which as we discussed early they are week, t -- earlier this week, would be a wider set of perspective >> net income jumped to $6.1 billion to date. there's huge numbers arjun is here on the set they surpassed expectations. they beat on the actual numbers and also the outlook as well >> nvidia is sitting in a perfect spot in terms of positioning in the trends of broader adoption of a.i. and companies willing to invest in artificial intelligence and the backbone of that is nvidia's gpus which go into the data centers to train the a.i. models which compares to chatgpt. chatgpt brought this technology to the floor and shows what the technology is all about for the companies. you have the supply tightness which is supporting the prices the makers are charging. they are in a perfect spot of huge demand. not a shortage, but not enough supply of the chips which

asmi up 3% you have asml trading up 1.4%. those nvidia results providing positive sentiment to the technology space frank. >> julianna, thank you very much live in the london newsroom. >>> time for the few more big money movers let's start with splunk. shares jumping on the q2 beat driven by the focus of acceleration and more a.i. adoption the software company boosting the sales outlook for fiscal 2024 the sales up 13% in pre-market snowflake catching a bid after the earnings expectations and reiterating the full-year forecast the cloud company says the customers will continue pto be growth headwind. those shares up 3.5% let's make it three. autodesk shares higher after the ramp up in software. the backlog of construction projects make for a healthy demand environment through the end of the year. they are highlighting the 11% rise in revenue and partnerships with companies just like nvidia. shares up over 6.5%. >>> let's stick with earnings right now. it is not all sunshine lollipops and rainbows with retail foot locker tumbl

software and in hardware and realize that if there's the supply demand coming off of taiwan semi and asml, i think you have to have a positive feeling that nvidia could surprise once again. >> we'll see thank you, as always kristina partsinevelos here with us on set. >>> another check on the markets right now. we are at session lows the major average is negative across the board the ten-year note yield of, well, the yield is not falling it's going up 4.23 up next "chart of the day. it's target. stephanie link owns it she joins us next. you got this. let's go. gobble gobble. i've seen bigger legs on a turkey! rude. who are you? i'm an investor in a fund that helps advance innovative sports tech like this smart fitness mirror. i'm also mr. leg day...1989! anyone can become an agent of innovation with invesco qqq, a fund that gives you access to nasdaq-100 innovations. i go through a lot of pants. before investing carefully read and consider fund investment objectives, risks, charges, expenses and more in prospectus at invesco.com. nice footwork. investment objectives, risks, charges, expens

taking dutch group's asml and st micro, with arm's listing -- or f-1 disclosure overnight helping to boost sentiment. >>> microsoft and activision back in the headlines as microsoft revises its $75 billion deal to satisfy uk regulators. the buzz overseas is all about commerce secretary raimondo set to visit beijing as u.s. exports hampers china's economy. carl, it's been a very big week for china. you have stalling growth over there, you've got a potential real estate crisis, consumer confidence, youth unemployment crisis. her going over there amid some geopolitical tensions is noteworthy. >> did have decent action on the fxi earlier this morning. it's interesting the diplomacy efforts. raimondo now going, blinken and yellen have been there. you have camp david working on allies to confront china, perhaps, as a group. and now reuters saying the president is going to go to g20, the summit next month. >> it's pretty amazing. the overall interconnectivity as a lot of companies, a lot of multinationals are looking to expand outside of china. areas like india, areas like vietnam trying to

one stock that i don't think is talked about enough is asml, a dutch manufacturer of. of euv littography machines. they go for $200 million a pop. it's almost impossible to make high end chips, nvidia, can't make it without these machines. i think the a.i. trend, dan ives called it a 1995 internet movement or 2007 iphone moment, this is a trend that is not going away. accensure is hiring 40,000 employees for a.i. adoption in addition to 40,000 you they have. there is something to this trend. how it's going to play out as an investor, nvidia is an extraordinarily expensive stofnlstock.it's not going away. some of these companies will be the next apple, the next google, or whatnot. jackie: sometimes it's not the most obvious plays that you want to get in on that everybody is following but it's the related in action. michael lee, thank you so much. mitch, you're going to stick with us all morning long. thank you, guys. coming up, the next shoe to drop, the transcripts of devon archer's testimony revealing, quote, the money guy involved with the biden family influence pedd