bob pisani on the floor of the nyse bertha coombs at the nasdaq. kayla tausche's in washington with the latest on trade mike santoli with the market dashboard. david faber with details on a big media deal today and our guest host for the hour, sarat sefi from douglas c. lane and associates >> we're covering the news stories of the day till raye earnings on deck reaction from ceo brendan kennedy before he jumps on the conference call. and it's day two of our story. a five star fund manager tells us three moves to make before the close. and don't miss our interview with hedge fund legend mike novogratz. his take on the bitcoin boom and the market comeback also >> let's begin right there with the market rebound bob pisani on the floor. >> yesterday everything was down it% to 3%, didn't matter what you were in. today a little more differentiation. trade-related names, particularly industrial names, your boeings, your cattar pilar, your 3ms, dow du pont all higher 52-week lows yesterday a lot of damage has been done. your johnson & johnson, procter & ga

we'll have the closing countdown next >> but first let's head to bertha coombs for a check-in at the nasdaq see what's moving there. bertha >> we talked a lot about the large caps with apple today looking like it's going to have a 6% plunge but it's the small caps that are taking it on the chin as well the russell 2000 back in correction materiality, down nearly 12% from its high and it hasn't put in a new high this year like the other major indices. among the losers a lot of companies trying to expand in china like worldwide wolverine, it wanted to sell more merrill and they just -- a lot of the losers are at new lows getting punished tivo as well one note today i was looking at a headline today bloomberg reporting that t-mobile and sprint are looking at what kind of concessions they can do to try to save their deal a lot of speculation about that. both of them moved a bit but they're back down close to the lows of the session. back to you. >> bertha, thanks. >> bertha, thank you let's do the closing countdown now. mike santoli you're with us with bob pisani >> yeah. as well as art c

bertha coombs at the nasdaq. mark santoli, phil lebeau on auto tariffs, courtney reagan on weaker retail sales, rick santelli with the bond report and our guest host for the hour, barry knapp. >> plus, the big stories of the day. the global impact of a trade war with the former ambassador to china gary locke, plus talk with the ceo of "the new york times." >>> also day three of our week-long series highlighting five top fund managers for five days straight. jerry dodson has three stocks to watch into the close we start with bob. what's going on with the markets and this big turn around we've seen >> we did lift midmorning as the president said he was delaying auto tariffs we saw the autos move to the up side general motors moved up about 1% it's up and stayed up. but other key sectors trade related haven't done much at all. want to point out 3m and most of the other ones take a look here 3m down. caterpillar not doing much uelse take a move here to the left and i'll show you some of the big retailers still down a

tech has been trounced in particular bertha coombs has more at the nasdaq bertha >> reporter: tech can't seem to get much of a bounce here, even on those semi-positive headlines. apple, the biggest drag today. apple seeing the low consider this, it was up better than 4% to start the month of may. so we've seen a huge drag coming from apple because of these concerns about chinese tariffs let's wait on tech overall, particularly chips but also a little bit of collateral damage to the fang names, like amazon, facebook, and netflix don't have much exposure in terms of revenues to china. they are all trading lower as well and hitting a new 52 week low ahead of its earnings this week and streaming service ahead of a low it's not just tech >> good point, bertha. michael santoli now for "trading nation." mi mike >> cancelkelly, more on the trar fallout. abcs are tanking, knocked down double digits from recent highs. so does this mean they have more misery to come or maybe buying opportunity? miller, michael of graded investments are your "trading nation" team abc in the cross hairs of the china

bertha coombs is tracking this today. surge in the chipmaker stocks. particularly amd phil lebeau covering deal news in the auto world. wilfred frost is watching jamie dimon's changing tune on the trade war. and rick santelli following a drop in bond yields. bertha, let's start with you on the chips. >> yeah. a huge day for amd new pc and gaming chips over the weekend. analysts and cowan pretty bullish saying amd with its announcement stole the show at the compewtext industry trade show pricing was one of the big notes there relative to intel game chips. amd a standout on a day that chips right now flat to down for the most part. may is on pace in factto be th worst month for chips since november 2008 back in the midst of the financial crisis. large cap tech fang names also under pressure this month but helping the nasdaq 100 outperform today amazon looking at its first back-to-back sessions since may 16th when it's actually seeing guidance. back over to you >> thanks, bertha, for that. quick question john on the chip names. what's your take at the mom

. >>> over to the nasdaq and bertha coombs with an update on today's biggest tech movers. >> yeah.re seeing a very nice turnaround this morning, the nasdaq now moving positive now that stocks have moved off of the lows of this morning we weren't that low, nonetheless you might call it a bit of an oversold bounce. apple is one of the things that has been holding us up this morning. apple has been positive much of the morning, one of the fang names that is up for the month we're also seeing a bounce when it comes to some of the gaming stocks after electron flick arts results beat that, that is lifting, take two lifting, activision, some of the nontech names are moving higher today. chips turned around this morning. they were set for another day of losses after two big losses on monday and a big loss yesterday, down nearly 2.7% we're seeing those bounce this morning, as we're getting that news that perhaps we might make some kind of progress on those chinese talks. it's one of the things that folks are really focused on. if you have a slow down in the global economy in part because of

bertha coombs is over there watching the big movers for us >> chips leading us south.ber of new lows today a lot of them are apple suppliers, apple having the worst day since january 3rd on those concerns about chinese tariffs and imports but also getting a big drag today from myelin pharmaceuticals, one of more than nearly 2 dozen pharmaceuticals in a price fixing scheme for generic drugs sued by the federal government that is taking its toll with the bear market territories. a few highs though excel energy, no surprise here it is not in the tech space but one of the recent ipos in biotech. hitting a new high and match so i guess folks are swiping right on love, kelly >> they need a respite from these trying times thank you, bertha coombs these trade fears are really rallying wall street down 650 points and anxieties high in america's heartland for a long time. soybean futures hit a low, the lowest in over a decade. joining me from the cme, a cnbc contributor. brian, welcome when we see china retaliating, how much of a blow will this be for that industry? >> >> report

let's send it uptown now to the nasdaq and bertha coombs bertha >> scara, the nasdaq composites have wiped out the losses for the week today led by cisco, the networking giant seeing its best one-day gain in four years ceo chuck robinson the company has anticipated those latest hikes in china tariffs but the next wave of import duties could hurt u.s. industry as a whole. new sanctions on huawei has chip makers lower again today co r6789 vo skyworks, qualcomm, micron consumer names as bob mentioned not feeling that pain. >> let's send it over to rick at the cme for today's bond report. rick >> 10-year neelds up two basis points and two-year's up about four a little bit of a flattening bias but in the end look at a three-year chart of 10 here's what you need to know 2.37's the low close for the year and if we take that out we drop back to may of -- or excuse me, 2017 but the thing is we haven't closed there although intraday we violated it the dollar index having a huge day. a third of a cent away from two-year highs which would take you back to may of 2017. and finally, it's all about

bertha coombs has more on that >> the chip sector is down for the third straight day now off about 18% from its historic high a month ago. secretary of state mike pompeo on "squawk box" here at nasdaq this morning said expect more tech companies to joint likes of panasonic and british chip maker arm cutting ties with huawei netapp doesn't do business with the chinese company but analysts -- snops sis a direct supplier to huaweiand says it has cut ties and trims its guidance but beyond that the chip automation firm still sees strong growth and it's up today. sara >> all right, bertha, thank you. let's send it down to rick santelli at the cme group in chicago with a look at how bonds are performing amid the sell-off on multiyear lows on bond yields >> at least 1 1/2-plus-year lows as a matter of fact, throughout the day ten-year comps continue to move back through time as we move down from 2.36 down to 2.29 rook at a two-day of two years down nine basis points ten-years are down about the same there's not a lot of implication on the curve although 30-year bonds are down a little bit less

let's go bertha coombs for the breakdown of what took place there. ly the chips were the big sinker for the nasdaq. smh, that's the etf, now down below its 200-day moving average as well as its 50-day moving average, closer to bear market territory. today it traded on very heavy volume you take a look at the large caps that were lower a lot of it continues to be this whole china trade fallout. now you have to add alphabet to the group. they will not be selling technology and licensing their technology to huawei call tomb and broadcom in addition to suffering issues over apple and its issues in china will also not be selling to huawei on the back of that ban. a little bit of relative strength we're seeing in health care health care wasn't positive today but a few of the names within the nasdaq 100 were in that space it's something we'll be watching tomorrow at the second annual cnbc healthy returns conference. back over to you >>ing all right. bertha, thank you. which brings up health care. so where does fit? is it a defensive flay right now or growth?

and bertha coombs is going to break it all down for us bertha >> all this week we've seen semis as ather there's going to be retaliation. that is really the big concern within tech, what that's going to mean for tech companies that have exposure. semis down two weeks in a row. apple also among the losers there, down two weeks in a row for the first time since last year down 5 1/2% after a 6% decline last year. chips that are exposed to huawei and xilinx and qorvo sky kor skyworks and qorvo off 15% for the week the ones who proved they can work with thun certainty are the ones this week, we saw cisco and applied materials both offering very bullish outlooks saying they have this situation under control, at least for now. that's what has them among the big gainers this week. biomarin among some of the biotech that's have done well with these outlooks for the conference next month. back over to you guys. >> bertha coombs at the nasdaq let's bring in libby cantrell, head of public policy at pimco to keep talking trade here and help us break it all down. libby, thanks for joining us huawe

mike santoli bertha coombs at the nasdaq.on the floor of the stock exchange but let's start with shawn cruz to trade the close shawn, let's talk about the energy sector. big, big declines in oil prices today. this week has hit a buying opportunity. >> i don't know if it's a buying opportunity just yet what i'm really focused in on here is the oil services companies. and if you look at some of the companies like schlumberger or halliburton, they get a lot of their growth right now from revenue. it's coming from latin america if you look at halliburton, that's about 28% growth they're getting out of that segment. if you look at schlumberger, that's about 14% and those two names are down pretty significantly today and i think the issue is a lot of the machinery that we get from mexico, there's about 63 billion of machinery that we import if you get we'll just say a 25% tariff that goes all the way, you're going to increase costs about 15 billion a $15 billion tax. let's take a look at what happened with staples last year when th

look at the nasdaq drill it down a little more approaching correction territory bertha coombs is there for us. >> hey, kelly. small caps the biggest drag of the russell 2000 down 1% large caps buoyed a bit by reversal in chip helping the nasdaq 100 touched an average today the chip sector would snap a four-day losing streak, on pace for the worst month since the financial crisis biggest losers with strong exposure to china in particular. higher today, bounce in microchip and xilinx putting them up for the week apple shares not sustaining the move higher. in and out of positive territory, but if remains in the red the stock's first five-day losing streak in over a year on the flip side, sell-off in consumer names on the back of disappointing retail earnings. until today the nasdaq 100 took out the tech names actually outperformed today that sector down collectively 1% about, twice as much overall, kelly, lump in the tech namescromby and fitch shed a quarter of the market cap. on tap for its fifth straight down day here in the appropriate color choice. >> that's right. >> all names repor

bertha coombs at the nasdaq. kayla tausche in washington with the latest kayla, let's start with you. >> it's unclear where things will land. president trump is keeping all of his options open, saying he'll start paperwork targeting every dollar of chinese imports with tariffs and then china, as you just heard, broke the deal. but he also praised its leaders and said there could be a positive outcome this week >> i very much like china. the vice premier's coming here today. we were getting very close to a deal then they started to renegotiate the deal we can't have that i think it will be a very strong day, frankly but we'll see. we'll see. their idea to come back. >> the vice premier's presence it's said shows china is committed to negotiating but his credibility is damaged and lu is not traveling as special envoy for these talks. special envoy that would give him the ability to negotiate on xi's behalf. a call between the two leaders tonight could prove fruitful, but in a time where the market is trying to prog

cigna's ceo is joining us in a cnbc exclusive interview with bertha coombs. >> thanks very much. david, thanks for joining us >> great to be with you. >> investors and analysts were very intent on finding out what your outlook is for integrating this company and how to measure growth what is the main takeaway? >> we gave them a good profile of our core operating businesses the fact that we have a great growth outlook in front of us. we are on track for 6% to 8% revenue growth and double digit eps growth and really importantly we're on track to deliver about $8.5 billion in free cash flow just a year out from where we stand so all is tracking well. >> and you talked about an ambitious growth outlook for medicare advantage plans, 10% to 15%. >> yes >> how are you attacking that? >> so we've spent a lot of time the last two years strengthening the base of our medicare business which is really focused in a few markets in the united states, about 12 markets we have the ability now to expand that business into a lot of the markets where commercial business is thriving and business part

bertha coombs is there with more >> in the last week, we were headed very much in the direction and weot some positive tweets, positive news and things looks better at the end of the day we'll see what the momentum is here at the moment, we're looking at a two-month low in particular for the small caps you know the interesting thing is we talk a lot about imports and we talk about multinationals having issues with these trade talks not being resolved, but it's the small caps that are in the worst shape. they did not put in a new high earlier over the last month. and they are back in correction territory here among those sectors that are also following suit, even as the large caps are the biggest losers we've got chip stocks back in correction as well that sector had put in a new high, but we are seeing a big pullback because chips are one of those sectors that are very heavily influenced by these potential chinese tariffs continuing to be so steep. apple is among the biggest losers today the biggest drawdown showing its second worst day of the year the worst since january 3rd. apple of

bertha coombs. hi, bertha >> hi. you were just talking about apple.s apple's worst week of the year the uncertainty about when this might be resolved not good for companies like apple that really need growth in china certainly for chips as well. the worst week of the year so far for chips. intell the second week in three. it is down 10% real concern about a slowdown in the economy for the chipmakers bucking the trend we have zillow group and booking holdings which both brook in better than expected results and we have lyft today with collateral damage from the uber ipo. but a couple of ipos that have done well here include online head-hunting firm headhunter which debuted yesterday. it is adding to gains after that debut. and trade web and zoom video are both up. zoom video in fact have doubled since it went public last month. so while you do have some tech ipos that are working very well in the after-market. back to you. >> bertha, thank you very much for that we've got just over 2 1/2 minutes left to trade and we are holding on to gains. as you can

. >> some movers here, let's get to bertha coombs >> nasdaq is on its third straight loss, none the lesso have some strong movers into it among the biggest gainers this morning on the back of strong earnings and outlook. on the other side you have au auaut auto debt, it is not seeing brexit issues or none the less, it did offer disappointing guidance take a look at chip names, we got a broad advance bouncing back for the week. chips are down about 4%. a month ago today they put in an all time high. the worst decliner regarding to the chips this week is qualcomm. if there was not bad news between huawei and apple and on top of that a ruling about its revenue model. that's a big impact for them biotech is a big winner that's up 1% for the week that those are the among the leaders, back to you. >> wti crude is trying to bounce back on its worst day yesterday. dom chu , good morning >> wti's price is up $68.34 it follows up on steve's losses on the energy market overall as concerns ramp up over the increasing stock for oil and gasoline in the united states and the effect of the prolong trade

bertha coombs at the nasdaq.y on the floor of the nyse >> first let's trade the close with peter what's your take you were bearish last time any less so today? >> no, no less so today. i'm a bit surprised at the resilience of the market i believe the news on the trade war continues to evolve as we'd expect it to now that company specific actions are being taken by the trump administration. i would imagine that a similar tit-for-tat response will evolve from the chinese that hasn't really seemed to affect the market today. a bunch of pmi data coming out from japan and australia a lot more later this week that's been rolling over the global growth story is weak. earnings lackluster, flat at best and the tariff situation trade war between the u.s. and china continues to devolve yet markets seem to be fairly complacent relative to all those risks. >> peter, thanks for that. good to see you. >>> let's send it over to mike santoli for his next market dashboard stocks >> often on a day when the overall market is down be

bertha coombs and seema mody let's trade this close with the managing director at webbush securitiesthe sell-off feel to you at this point? is it overdone or not? >> so a few things that we're looking at going into the close really is, number one, technicals we've seen the s&p 500 right around its 200-day moving average and testing. the stocks semiconductor index thanks to cyprus and market breadth has been stalling. not a lot of safe havens out there. we think this 5% retracement we've seen this month may get worse in the short term before it gets much better. >> we're actually above the 200-day on the s&p that has to be comforting to some who watch the technicals heading into the close let's send it over to mike santoli watching things as well for a look at volatility >> look at the vix over the last year or so it's going to show you peaks and valleys. and what's been relevant, been highlighting this. the vix has been reluctant to go to new highs, even though the s&p has gone to new lows here you see middle of this month we got above 20 for a while. it's been slow to rebuild. and m

we trade the closer mike santelli has the dash board bertha coombs on the nasdaq.odi at the stock exchange let's trade the close. sean cruise from td ameritrade how are you trading apple after the tough week for the giant. >> a lot of are saying about apple and the other names the pullback if you have the longer investing horizon can be an interesting entry point. for apple one thing nanlt notes that i wanted to question a little bit was there that there is not much impact in the supply chain for apple for the trade discussions. until we get more charity on the outcome of the discussions it's hard to say whether the impact to the supply mcmahon and the expense side of apple's income statement will be hurt a lot or if it's going to be a little bit more of a not much of an impact to their bottom line. >> you know you are also watching amazon and facebook they've opinion momentum leaders of the market over the last few years. what's the action telling you about where the mechanic is right now? >> well, it looks like for amazon they are back off the highs. if you think

bertha coombs at the nasdaq. seema mody at the new york stock exchange r.j. grant good to see you. the banks trading down a bit today. yield picture hasn't really worsened today why are they trading down today specifically >> well, thanks for having me. the big news in banks across the board is seeing a derisk in the subsector. investors are clearly nervous with global growth clearly as long as this trade war continues to drag on i think it's more about forward looking into the data that we're going to be getting for may and really some worries about global deterioration. kind of more of the same as we've been seeing for the last couple of weeks. >> so we're seeing some interesting correlations, r.j. crude oil's down almost 4% today. kraeshz treasure aye yelds lower again and the dollar trading near two-year highs as an equity trader how do you process all those big moves in other assets >> it's a great question i think from the view through financials it's just investors clearly don't want to be anywhere near the space because they are looking at all these macro dynamics such as w