if that's the case, i own a call and play to the nasdaq to the upside because the nasdaq has been a hugeeneficiary of the fact that the ten-year cannot get higher than that 4.25 level. >> carter, when looking at the technicals, what patterns help you predict what might be coming >> sure. as would be expected the correlation between qqq and smh is high at 90 plus percent if we look at a chart of the qqq, it's the same circumstance of a well defined uptrend in effect since the low, and now after trying to break out, we've faltered and the presumption is that this current falter, down 9%, plus/minus, has room to run. but it all gets down to beta in many ways. if we know that the nasdaq dropped 38%, the peak, the s&p dropped 27%, on the way back up, since the october low, the qqq's doubled the performance of the spy. so it's more on the way down, more on the way up then in this current dip, it's nine versus three and a half for the s&p. i think there is day-to-day downside >> all right well, for everything "options action," check out our website and newsletter more coming up after this. >>>

the nasdaq gets hit.e've seen interest rates compress and move lower on the 10-year the nasdaq has been one of those areas of the market that's benefitted greatly from that so we talked about that last week, that maybe the 10-year is not going to go up anywhere from here, if that's the case, i own a call, i get to play to the upside of the nasdaq, it's a huge beneficiary in the fact the 10-year can't get higher than the 4.25 level. >> carter, looking at the technicals, what patterns do you see that help you predict what might be coming? >> sure, so as would be expected, right, the correlation between qqq and smh is exceedingly high at 90%. the pattern is similar if we were to look at the chart of the qqq, same circumstance of a well defined up trend in effect since the low and now after trying to break out we falter, and the presumption is that this current falter, down 9% has room to run and we'll get it down to trend it all gets down to beta in many ways if we know the nasdaq dropped 38%, the peak, the

cloud down 9 nasdaq down 4.5% they done? >> it's not done yet the last time we were on together, watching the ten-year sitting over 4% is going to cause problems in the duration names. i think you have consolidation this is not a teetering market this is a place you can add. we don't like to time the market it never works there's more upside as we come into seasonally weak august and september. and tech, it led the markets the first half of the year, if we're going to move higher by the end of the year, tech has to be participating in that. >> there's a note on that today. we'll get back to the conversation in a minute we're getting new news on u.s. steel. which has been making some mna news today pippa stevens with the update for us what do we know now? >> it's offered an all-cash offer for u.s. steel shares. it would be $35 per share all-cash the company rejected the cleveland cliff offer. over the weekend, u.s. steel said when rejecting that offer from cleveland cliff, it had received multiple unsolicited proposals. esmar

nasdaq .50% higher.ector seeing the best session since may. we are looking at the bond market. surging yields is the biggest story of the summer. the 10-year treasury trading highest since 2007. the 30-year treasury bond is at 4.42. as we mentioned, the 2-year treasury is ticking close to 5% yield. we want to look at the energy market. oil specifically. wti down fractionally at 8$80.5. brent crude is similar. natural gas is unchanged. >>> and we have lowe's results on tap this morning after home depot posted sales decline with the slump in consumer spending. it has been a strong session for walmart and home depot and target beating on eps estimates. target is the only name bucking the trends missing on revenue and slashing guidance for the year. let's talk about lowe's with michael lasser at ubs. michael, good morning. >> good morning, frank. >> give us a sense of lowe's coming up and rating and price target. >> we are expecting that lowe's will show the home improvement sector is bouncing along the bott

but in terms of apple's _ terms of nasdaq. but in terms of apple's revenues, - terms of nasdaq.ut in terms of apple's revenues, though, l of apple's revenues, though, from the iphones, mac and ipads, basically all their major products, they were down in this most recent earnings. should that be concerning investors? in should that be concerning investors?— should that be concerning investors? , ., , ., , investors? in my opinion, it is all really _ investors? in my opinion, it is all really about _ investors? in my opinion, it is all really about iphones, - investors? in my opinion, it is all really about iphones, it. investors? in my opinion, it is all really about iphones, it is l all really about iphones, it is all really about iphones, it is all about the iphone 15. that is to leave the focus going into this next six to nine months, and we estimate when you represent and —— upgraded in four years, —— upgraded infouryears, and thatis —— upgraded infouryears, and that is the key to how the apple growth story plays out stop —— plays out. -- plays out. interestingly, the other—

a little bit of red ink, the dow, s&p, nasdaq is not catastrophic, the dow down 30, nasdaq 1035. gotta do something different. jeff sica is with us this monday. taylor swift, that's what were going to talk about. listen to what barstools sports dave portnoy had to say about her on this program. >> i've got ask about taylor swift. >> love her. >> you're really a big fan. >> why do you like taylor swift. >> brilliant. >> she's always been true to herself, she's always told the truth and she's had a bunch of things. when connie stole the microphone, if you recall the incident she was a young kid nothing but a superstar, big hit and she got a lot of hate and it's come full circle. maybe the biggest artist in the world. >> he is a really big fan. jeff sica is with us this morning and we have the all-important question to put to it. is taylor swift bigger than the beatles. >> i was so hesitant to talk about this because i know you are beatles fan and was british but yes taylor swift is bigger than the beatles and will be bigger than the beatles and let's face it the beatles were overra

in just the nasdaq overall and that's part of the setup. only 1% of the components of the qqqs are at a 52-week high. for all of august it's been below 5%. the nasdaq is below its 50-day moving average for now two straight weeks. that's the longest streak since january. it's a very big change in trend. >> which is why jonathan krinsky points out even as the nasdaq has its best day, jason snipe, best day since july 28th. advance/decline line was down, more stocks down than up. it gives you a good read into the fragility of where the nasdaq has been. now if you look back and you say, okay, what are these sort of red flags where maybe there are some signs of excess in frothy environments, an nft goes for $40 million, spacs are all the rage, and you go down the list, nvidia gets a $1,000 price target, the stock is up 1,000%, et cetera, and then gets the $1,000 price target. is that valid? we look back and we say, hello -- >> of course it's not, in my opinion. talking about nvidia, and i know we've already talked about it -- and i think josh mak

we have nasdaq down 2.8%.r even despite the fact that it looks like the past three sessions we've had some real muscle here from the bulls. she has got the sector picks that could soften the blows, september picks from nancy duid ameriprise financial wealth advisor, 1 1/2 billion under management. what sectors would flourish during what is known as the most ugly months of any year, september? >> yes, september into early october perhaps might be a little weak and that's not unusual. it is sort of the summer doldrums until the fourth quarter picks up but in a time like this when the market starts to pull back and we do expect it to pull back a little bit more, which would be normal and healthy for the progress of long term performance. good time to consolidate, rebalance, a good entry point but got to be very selective as always because you can't just throw money at sectors and feel like oy, you're going to be okay. this is going to be a little bit bumpier in the homestretch to beating the battle against inflat

nasdaq composite on the downside as well. sharp loss. nasdaq is down 152 points.me big tech, i want to see them all. apple, microsoft, amazon, medic, all of them down, most down more than 1%. small bus for apple. take a look at amd, this is your story. 18% drop in revenue for chipmaker. >> stock is up almost a dollar. what happened is the fact that they have a new chip, mi 300x, it is the ai graphics processing unit that can take on nvidia so is overshadowing a disappointing report card so wall street and the company is hopeful amd can be the number two in the future to nvidia making ai chips and that launches end of the year so this is why you're not seeing a big fall. stuart: can you show me starbucks? done one and a half% did they do well in china? >> forty for 6% -- 46% in three months in china. the problem is a question with the u.s. same cells of. overall revenue missed at 9.17 billion in the quarter but am conflicted because when you go into starbucks, more likely to buy the biggest size which is more expensive and add extras like cold foam and breakfast sa

the nasdaq has been a predictor too.e've seen in tech and which pockets are crushing it? >> palo alto is about execution being in the right space. the reason people were sew nerves about it because some of the other security providers came in weak. everyone was expecting palo alto to do so as well. we love the stock. we owned it for a while. it has been terrific. earnings season has been pretty good. we entered earnings season with s&p estimates down 5% i think. they have actually come in better than that. so a little bit stronger. better revenue growth and better earnings growth. the consumer just continues to drive this market and this economy higher. liz: yeah. it's really if you look year-to-date, the nasdaq has been such an incredible outperformer. >> oh, yeah. liz: so have some of the names that are in that have done even better than nasdaq overall. i'm thinking about airbnb. this is a name you felt has the quality. there are characteristics within this company that look quite impressive even though the world someh

the nasdaq and dow and the s&p both up by 3%, the maz dak by more than 4%. you were talking about gains north of 19, 19.5% i think for the s&p 500 and for the nasdaq up by 37.1%. that does it for us today. mike, thanks for being here. we'll see you later today. we'll see everybody back here tomorrow right now it's time for "squawk on the street. ♪ >>> good tuesday morning welcome to screen. i'm david faber with jim cramer. we're live at the new york stock exchange carl has the morning off let's give you a look at futures. you just heard from becky, of course we're looking for a lower open this morning we'll see, as we always do july ended yesterday so our roadmap does start with a new month for stocks yes, a new month wall street coming off what was a strong july. the nasdaq and

you're at about 4.90 right now -- lauren: and the nasdaq is down, and the nasdaq is down this week byp. the cpi data encouraging, but look at airfare. airfare's coming down. that's a head fake because jet fuel's going back up. stuart: interesting. okay. in 6 seconds we open the market. you will see that gentleman or that lady -- lauren: it's going to be the man in the red tie. stuart: my money is on the red tie guy. let's do it, man, come on. he didn't do it. lauren: i think we missed it. stuart: we missed it. i base this show every day on the man pressing the button. okay, let's get on with it. the dow is down 59, 690 points, about three-quarters of the dow 30 in the red so a lot of selling this morning but only a 60-point loss at this point, i should say. the s&p 500, where's that? it's down, .44%. okay. the nasdaq composite is down, .80%. over 100 points. big tech, i suspect, taking it on the chin. yes, it is. apple down to $177. as we mentioned earlier, it's lost 10% in the last week. amazon, 137. microsoft is down, 320. alphabet, 128. meta, barely above $300 a share. i want to st

dow is holding onto 313 points in gains and s&p up 41 and nasdaq up 162.you guys are sticking with us till the closing well. ♪ behind the team. the coach. the manager. and the snack dad. all using chase to keep up with their finances. the coach helps save goals here, because she saved for soccer camp there. anddd check this out... the manager deposited a check. magic. and the snack dad? he's getting paid back. orange slicesss. because this team all has chase. smart bankers. convenient tools. one bank with the power of both. chase. make more of what's yours. ♪ “dirty deeds” by ac/dc ♪ (♪) ♪ dirty deeds (done dirt cheap) ♪ ♪ dirty deeds (done dirt cheap) ♪ your record label is taking off. but so is your sound engineer. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire let innovation refunds help with your erc tax refund so you can improve your business however you see fit. rosie used part of her refund to build an outdoor patio. clink! dr. marshall u

the nasdaq is closing the week down nearly 2% down and back to back weeks and this is the first time all year. if you're looking to take advantage of the volatility which has come rushing back into the space, what is going on with the tech trade? >> you heard mike talking here. it is when you back 100 basis points plus or minus every few days. feels like the volatility is picking up. but if you look at the volatility index on the nasdaq, those are relatively cheap and historically below average is. to me that says options traders and the stock market is inflating. there is definitely some riskier to the downside but the fact that volatility is compressed has made buying the calls a cheap way to get into this market and maybe the risk because i'm risking the valley of the value of the call option and i want to play the upside, i'm going to buy a call. in the september expiration, is trading for just over $10, that is about 3% or so. i know that is pricey but given the amount of movement that we are seeing in the nasdaq which is more volatile than the rest of the market, this seems lik

i see some green especially for the nasdaq.e you to wall street for "the opening bell" next. ♪ stuart: futures point to a nice gain at the nasdaq, minor loss for the dow. michael lee with me this morning. nvidia report tomorrow, expectations are sky high. looking at the premarket up 2. 5%, 483 is the price this one. what is going to happen? can they meet those expectations? >> after last quarter, it is a tough ask. i have never seen anything like this, no one has. last quarter was the largest guidance raised in the history of the world. it is not hyperbole or exaggeration. what are we going to see? unimaginably we will see something spectacular and personal perspective i would like to see spectacular earnings but not enough for the markets. a selloff in the stock, this ai trend is for vlans will keep going. expectations are moving around, could beat them but they are the tip of the sphere for this ai trend which is story this year. and ugly few weeks or months or so, 30% this year. stuart: in the past you told us about asm l, t

that upsets the nasdaq. the price of gold below $2000 an ounce, 1920.now. oil, i presume that is down a little, it is up a little $80.97 per barrel, nat gas never moves, 259 is where we are. let's get to gasoline, the average price for a gallon of regular $3.87, no change overnight is up 30 odd cents and the last month and diesel, $4.34. coming up joe rogan claims biden scandals are coming to light for reason, rotate. >> i would say all the stuff coming out slowly and truly about biden is on purpose. they want to get rid of him. >> put out the bad news on purpose to get rid of him that is democrats doing it. more on that. anheuser-busch, billy bush says his family would buy back bud light if in bed once downloaded. have they made a serious offer, we will find out because billy bush wants to be here. the problems keep buying piling up mortgage rates at a 21 year high, madison alworth has the real estate report after this. ♪ let innovation refunds help with your erc tax refund so you can improve your business however you see fit. rosie used part of her re

the nasdaq dipping down slightly.st heard scott say finishing lower on the week. that is the scorecard on wall street. the action is just getting started. i'm morgan brennen. jon fortt is off today. a rare friday afternoon earnings release is coming your way. palo alto networks is due to report results any momen

so i'm seeing the nasdaq 100 up by 6/10 percent. the gold and dragon, nasdaq, golden dragon, some of those big chinese tech names traded here in the us off by 1.6%, even though we have thickened fast some of their earnings, which remember alibaba looked good last week. we're looking at a ten year yield that just is flat on the day we had seen some buying buying, let's call it after yields pushed higher. at the moment we're just steady on the ten year amid what we're trying to see, the push and the pull of really where central banks go, particularly in the uk as well as wage growth ramps up. let's have a look at some of the individual names just briefly, i want to shine a light happening with nvidia. most points added to the nasdaq 100 coming from this particular name up more than 2% as we see well follow morgan stanley bullish say it's the kingmaker and i am looking at grinder up 12%. it was up more than 20% at one point. its earnings looking good, raising its full year guidance for the lgbtq app. and i'm looking at tesla off by 2%.

that helps the nasdaq.which is stock of the day, the month, the year, possibly, that has gone straight up. they report this afternoon, very much in a i company, very much in the news. all eyes on nvidia later this afternoon. just getting word on this. governor doug bergen has injured his leg while playing basketball with staffers yesterday. the campaign says he is out of the hospital but it is unclear if he can stand at the debate. we are monitoring and will have updates for you. we are waiting for bret baer and martha maccallum, they will be anchoring the debate tonight. that is a live look at the stage where the debate will take place tonight. you are looking at vivek ramaswami in particular. lauren: he might be the best natural debater, he can pivot, he is smooth, he's controversial on foreign policy and he wears the lack of his foreign policy experience and wild ideas according to many as a badge of honor because he's an outsider. stuart: desantis. everybody is going to go after him because he is the fr

he can be is expanding, particularly the nasdaq up 233 points.head of that nvidia earnings report after the bell. ♪ ♪ ♪ the biggest ideas inspire new ones. 30 years ago, state street created an etf that inspired the world to invest differently. it still does. what can you do with spy? ♪ ♪ [ applause ] the day you get your clearchoice dental implants changes your struggle with missing teeth forever. it changes how you eat, how you feel, and how you enjoy life. it changes your smile and how others smile at you. clearchoice network doctors have changed over 100,000 lives with dental implants, and they can change yours, too. because a clearchoice day changes every day. schedule a free consultation. new projects means new project managers. you need to hire. i need indeed. indeed you do. when you sponsor a job, you immediately get your shortlist of quality candidates, whose resumes on indeed match your job criteria. visit indeed.com/hire and get started today. (upbeat music) - [narrator] what if there was a hearing aid that could keep up with you? (not

the s&p and nasdaq finishing lower on the week. that is going to do it for us at "overtime. have a wonderful forecast. "fast" begins right now. >> right now on "fast," counting down to earnings from some of the biggest retailers from walmart to home depot. what we can expect from the reports next week and what they could say about thestate of th consumer. >>> and nvidia dropping 3.6% they are falling 15% from the all-time high. so where is the sector going next the chart master gives us his two pennies. >>> later, a chart of the week seeing the best week since going public more than 70 years ago. what is it is it too late to buy in we will lock for answers this is "fast money" live from the nasdaq market site on the desk, tim, and our guest trader victoria fernandez. thank you all for joining us here tonight we are going to start with a sputtering end the dow gaining while the nasdaq and the s&p were lower on the day. all three indexes well off their lows after a hotter than expected inflation report. wholesale prices rising more than forecasts in july both the nasdaq and th

the s&p down 30, nasdaq down 80. interest rates rising again, that's not what investors want to see. the 10 year is close to 4% but look at the 2 year. moments ago it hit 5%. it backed off a little, 498. most investors don't like that. gas up, the average for regular, 306. diesel up another sent. the average is 432. on the show today, four indictment in five months and a string of trials in the middle of the potential election. is that fair? another scheme to change the ticket? the la times suggest removing kamala harris and making her senator to replace dianne feinstein. is that fair to harris? the cage match has descended into farce. musk says he will drive to zuckerberg's house for a fight, he says he's not home. he is traveling. tuesday, august 15, 2023. "varney and company" is about to begin. ♪ ♪ stuart: the fight song. that no doubt refers to trump fighting on the probable non-fight between elon musk and mark zuckerberg. let's start with breaking political news, donald trump indicted for the fourth time in 5 mo

the nasdaq down more than 2% so both the s&p and the nasdaq, they're both set to snap a five-day win streak. let's get to matt miller at miller tabak thanks for being here. for the month we're seeing declines, the last few days we're seeing a bit of rally, which one do you believe will carry momentum into september? >> i think we'll see more weakness as we move into september. october is generally -- i'm sorry, august is generally a tough month for the stock market, but september is the worst month for the stock market and the thing that concerns me the most is this level of interest rates i mean, i think chairman bostic, president bostic, i should say, is correct that the fed may not be raising interest rates anymore. they may be done the question for me, though, is that enough to really push the stock market a lot higher? and i have questioned that, because i think al of people are equating the end of rate hikes with easing or even the end of rate hikes with the kind of a monetary stimulus that we had, you know, with the 2020/2021 i don't think that's the case. >> one of the things

has officially list ed on nasdaq.his is another step to be the big big big biggests offerering since rivian. this indicates a $64 billion valuation for the firm. double the 2016 acquisition price. arjun is still with us. i think that $64 billion number is interesting as well because last week on the show, we were talking about the fact that softbank bought out the equity stake from the investors. many of them come from the middle east. that has given them an instant boon because they made inv investments on the losses. what is the $64 billion valuation do on the nasdaq? >> we saw it somewhere in the region of $60 billion to $80 billion. it is more than double what with softbank paid for the company. the question here is how is that valuation worked out in the environment? if you look at a.r.m. currently, the revenues fell in the quarter year over year. a slowing smartphone market. that is the bulk of the revenue for the smartphone chips. it hasn't pivoted into the new areas it has been speaking about for the last few

for the nasdaq, we look further back up 37% year to date. best first seven months to a year since 1975. very strong start to the year. we are looking at the bond market we start with the benchmark 10-year at 3.96. easing off the high of 4.01. we want to talk about energy, specifically oil wti is basically at $81.50 down .50%. brent crude is $85.15. bigger move to natural gas up 1%. off the highs. >>> time for the check of the top corporate stories with bertha coombs. bertha >> good morning, frank have you wanted to have a conversation with abraham linc lincoln? meta is ramping up the latest artificial intelligence. the company is set to launch a range of a.i. powered chatbots with different personalities the ft says it could happen as soon as next month interesting to watch meta has been designing the chatbots to have human like discussions with users to boost engagement with the social media pla platforms. the chart is up nine months in a row. >>> lawyers for the u.s. virgin islands alleges to the federal judge that jpmorgan chase handled m

the nasdaq losing 50 points.o do with apple but this selloff is dragging down a lot of stocks. investors are blocking off shares of the company but year to date, got to put this in perspective, the chain has gained 60%. they posted strong, first-quarter results that beat expectations on the top and bottom line, sales of western where also rose 5% year-over-year. same-store sales dropped 2. 9%. what's going on in the world of western where? joining us is ceo and president jim conroy. top western and work-related retailer in the us, 300621 stores, 44 states. give me an assessment of where you see the consumer and what they are spending? >> thank you for having me on. stock appreciation all started in may. we need to do this more frequently. the core customer for us is still -- what did you say? liz: we like to inform investors, they make their choice and chose you. >> appreciate it. the core customer is quite stronger for us. we sell a very functional product and our core customer continues to come back to us and s

>> not necessarily any key levels on either the s&p 500, nasdaq, nasdaq 100. what i have seen is there were a number of tech stocks that deserved to have big 2023 ramps, and there were a number of tech stocks that were probably frauds that did not deserve it, so unfortunately, the whole sector got grossly overbought, and now we're starting to see some reality. we're starting to see some consolidation, and i actually think that consolidation might continue a bit further just as your reporters said. i really report for nvidia wednesday, august 23, but the pendulum never stops in the middle. i think we could have continued tech weakness. i don't necessarily see a buying opportunity today, particularly not in nvidia when the stock is up 6% in the session, i see a decent buying opportunity coming in select tech names. >> i love to hear which names you like and if you could tell us which ones are fraud, please that would be great. >> i don't necessarily mean accounting, financial frauds. i think there's a number of i wannabes jumping on this thing just like folks ju

up 17% nasdaq up i think -- nasdaq 100 up 41%, 40%. how do we make money from here on out >> sure. i think multiple ways. a., fixed income still attractive with really good deals. take advantage of the great run in equities. take some off the table and maybe launch into some of those deals. secondly, from individual stock perspective, we think you can take profits in some of these great tech names not get out of them. want to stay in them for the long term. find the opportunities find the home depots, the u.p.s. we like cvs same reason. >> throwing out names randomly, u.p.s. didn't sound like an accident. >> there's $5 trillion on the side, right? sideline >> who are these sidelines >> the cash -- >> sidelined what are you talking about? >> cash. getting something on the cash but on sidelines too many things really, so offsides in terms of negativity. so -- >> don't you want -- you want some cash allocation i don't ever want to have no cash anywhere. >> no. there are alternatives now we haven't seen them in the last ten years. >> 5.5% for a tax-free cd, not bad. >> save 3%, 4%, 5%,

yes, the nasdaq had a great today. palo alto should have been up, given their margins and that quarter on friday. nvidia's up, i think, because people feel we have to be in this name ahead of earnings becauseforbid we're not. that's just people chasing, in my opinion. so, let's wait until wednesday and see how this shakes out, but i think it's setting up for a bit of a fall. >> yeah, and the definition of a great quarter and great guidance, put your finger -- it's going to be great. there's no doubt about it. so, expectations -- ten analysts have been raising their price targets, raising estimates. if you think about where investors on the buy side, where the whisper is for this quarter and the balance of the year, and thinking out to 2024, it's really, really high. so, if you think about the reversal that this stock has had over the last few trading days, up 8 1/2%.5% today. it gained $85 billion in market cap today. >> gosh. >> on really nothing. and the options market is implying about a 10% move in either direction

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how about the nasdaq? it's on pace for its eighth gain out of nine sessions with salesforce leading the way, up 2.4% for the nasdaq over the last week when you bring in starting friday. so let's talk about -- the. [laughter] crm, yeah ors salesforce. the enterprise software giant beat on both quarterly top and bottom line estimates and gave a sunny current quarter revenue outlook driven by the velocity of its a.i. products released to customers. ceo marc benioff invoking the company's, quote, a.i. transformation. and, by the way, during the earnings call a.i. was mentioned 103 times. yes, i counted. if that included q&a with the analysts, but still. in fact, if it wasn't for is salesforce, the dow would actually be much deeper in the red. crm at the top of the blue chips right now. wells, jeffreys and truist all hiking their price targets to $275 a share. bofa is at $280. right now salesforce is at $2221 is-- 2221.99. overall, the market action mixed considering investors were waiting for the latest or orr

the nasdaq down 270. in percentage terms, down 0.78%, a whopping loss, 2% from the nasdaq.l above 4%. that doesn't help stocks. the price of oil roughly 80, 81, dropped below $80 a barrel. gas prices are rising rapidly. a gallon of regular nationwide average is 380, up $0.02 overnight. diesel, we have that at 410. that is up $0.03 overnight. i am telling you, gas prices, diesel prices straight up. still ahead, new york congas woman claudia tenney on the migrant crisis unraveling in her state. martha maccallum, donald trump's third indictment. we will get a preview of apple's earnings report due out tomorrow and this. we are facing a unique presidential election. as things stand now, probably biden versus probably donald trump. a sitting president who may be headed for impeachment versus a past president headed for court. again, that is "my take" next. ♪ please ignore that. td ameritrade. award-winning customer service that has your back. -dad, what's with your toenail? -oh, that...? i'm not sure... -it's a nail fungus infection. -...that's gross! -it's nothing, really... -i

nasdaq posting the worst day since february right now, .50% to the downside. s&p down 1%. some conviction in the move lower based on volume. by the close yesterday, spy closed at 1.933million shares which is below 71 million. that is a huge amount of volume. similar for the qqq. tracking 20 million more shares yesterday than its average over that time span checking the bond market yeel yields across the board highest since november of last year. the 10-year treasury yield is below 4.15 the 2-year treasury is 4.2 in energy, oil prices contributing to the story. you think some of the downdraft and some would be under pressure they are to the downside today wti hovering at $80. that is off .25% similar for brent crude which is $82.96 red arrows here at home. let's check out overseas with arabile gumede in lundondon and sherry in asia arabile, is it red to start the day? >> two hours after the opening bell here and down we go pressure seen from s&p 500 in trade in the u.s. and that trade followed to the european picture. 1.5% down for the ftse 100 same for the ftse mib in indi

the first demo and nasdaq, how can we use this technology inside nasdaq. we do provide a lot of technology beyond our markets. we are always try to make our business more efficient and effective. we came up with 25 use cases in an hour. i think every company is doing that. the level of pervasiveness that this technology could have is crating much more efficiency within an organization, much more productivity, better outcomes for clients, that outcomes 4 -- we use it for anti-financial crime. making the process more efficient and effective. there are lots of positives. i think it is just beginning to surface. nvidia, ws, azure, openai, they are the foundational technologies that will drive adoption. but what we haven't yet seen is the market really think about how will it be adopted, and therefore which committees are going to be able to get ahead faster, which buddies will be more efficient, what new technologies can be born out of this, lower the barrier to entry for new innovation, things like that. that has not filtered into the market. i think there's

a small loss for the nasdaq was the s&p is up 7 points. adam johnson with me now.ise the market rally in? >> i'm long salesforce enthralled with that action and it is actually a great sort of story for what's happening as a whole. a bunch of activist investors went into salesforce saying you've got to fix this. that was the story of the past year, fixing things, we got through covid. inflation is coming down. we got supply chains back in order, salesforce is one example, one of the reasons it is up, the market is up and i feel quite good about deploying capital. stuart: we been on an upswing for most of the week. >> yes we have but it is very interesting. i had such a fantastic june and july, a terrible first three weeks of august. i thought here we go again and the past week we got back on track. blue when you are okay to commit more capital now to stocks. >> yes, more money coming in to the portfolio next week for new clients and we are deploying capital. stuart: i know you're with me for the hour, appreciate that. now, we have president biden just blocked sale o

nasdaq 100 innovations like... wearable training optimization tech. uh, how long are you...one. i'm okay. ( ♪♪ ) ( sfx: people cheering ) ( sfx: stock exchange bell ringing ) ( ♪♪ ) ( ♪♪ ) ( sfx: people celebrating ) ( ♪♪ ) ( sfx: people celebrating ) ( sfx: stock exchange bell ringing ) >>> i'm seema mody here with your cnbc news update. the gunman who stormed the synagogue in 2019 sentenced to death by a pittsburgh jury the unanimous decision comes from the same jury to found the shooter guilty on 63 counts in the massacre, killing 11 people and wounded 7 others at the synagogue, the deadliest anti-semitic attack in u.s. history. >>> apple is looking to add more live sports to its roster and may be targeting college football espn says a proposal for media rights to school presidents and ucla and ucla going to the big 10 and big 12. apple has streaming deals with major league baseball and soccer >>> meta introducing its open source ai tool called audio craft that will allow useers to create music based on text prompts. three models will work for music, sound, compression an

the snp 5000 —— the nasdaq, down 2%. the snp 5000 -- the snp 500 nasdaq, down 2%.hief market analyst at ig. as far as the share markets are concerned, do you think this was an excuse to take some profits? because certainly for japan on wall street, they've had a good run lately. exactly that, ithink— had a good run lately. exactly that, i think we _ had a good run lately. exactly that, i think we are _ had a good run lately. exactly that, i think we are now - had a good run lately. exactly that, i think we are now intol that, i think we are now into august, trading moves can be exaggerated. if you look at nasdaq with tech stocks, that was up 40% on the year. this downgrade doesn't tell us anything we don't already know, although us debt is on an unsustainable trajectory. it’s unsustainable tra'ectory. it's also important _ unsustainable trajectory. it's also important to point out the us lost its aaa crown back in 2011, and at the time there was a huge reaction of concern about what that meant — whereas now, having been there before, it doesn't feel like such a big

nasdaq up 20. s&p is up 6 points. in the sessi

the nasdaq up three quarters of a percentage .13 points. with all important jobs numbers on friday in the core inflation numbers out the day before, the ten year treasury if we can switch to that it looks like it's down a couple of basis points, the yield is down, commerce secretary gina raimondo kicking off three days of talks in china, she is the fourth high level official from the biden administration in recent months, what is a recent administration up to in china. ron desantis declaring a state of emergency in florida as tropical storm and dalia is likely to become a hurricane. it is monday august 28, 2023, "varney & company" is about to begin ♪ ♪. david: just getting started i think that took that phrase from stuart varney, he's always saying just getting started. he is right were just getting started. a big week ahead for the mar markets. good morning lauren, take is what's on deck. lauren: final week of the month of the summer read about is going on, today you have gina raimondo in china and their talking trade relations, tomorrow e

you can see nasdaq up almost half a percent. s&p up almost a third. dow hanging on into positive territory. 3 m shares slightly lower over their proposed settle involving ear plugs. off almost 2% on the day. and lyft higher after a board member buys $1 million worth of the stock. you can see lyft up 6.33%. and shares of casinos moving hire today, incredible new numbers from the las vegas strip showing gross gaming revenue there setting a new record in july. it came in at $835 million. remember, they have been on months of record-setting sprees up against tough comps last year. their best month before this was december. they beat december's gross gaming revenues by $20 million. >> that is a big beat and big news in that area. >>> two big economic numbers out this morning. the gdp slowing, showing slower economic growth. and adp payroll report showing slower job growth. let's get to rick santelli in chicago for how it is affecting bonds. >> absolutely. we had some top tier day take points out. if you look at adp on top of nonfarm payrolls, we'll get tha

the nasdaq 100, big tech leading the gains. the nasdaq 100 of 1.4% -- up 1.4%. you

the dow industrials down slightly, s&p up slightly, look at the nasdaq. racing ahead to the tune of one hundred 40 points, close to one%, interest rates continue to soften, the 10 year treasury yields, got up a bit this morning, 422 but down from last week. the two year, that is below, it is now 5. 0 one% interest rates edging up. let's get to politics. "my take" from the leading candidate at the debate, desantis, strong and forceful, tim scott didn't get much time, strangely he missed the postdebate swing room. vivek ramaswami got the most time and the most attacks. haley clobbered vivek ramaswami on foreign policy. mike pence dignified and occasionally aggressive. berman best line of the night. he joked about breaking a leg on the debate stage. my opinion it was a good debate about policy, large audience made for some real excitement, probably good that trump was not there. also on the show today, russia in disarray. vladimir putin likely behind the death of prigozhin . the russian economy sinking, it's arming ukraine not doing well, xi xinping can't be

nasdaq futures up over 1%. dow in the red s&p up almost .50% a lot to talk about with "squawk box" coming up next. thank you for watching novation . their team of independent tax attorneys will work with your cpa to determine if your company is eligible. [whip sound] take the first step to see if your small business qualifies. bridgett is here. take the first step to see if she has no clue that i'm here. she has no clue who's in the helmet. are you ready? -i'm ready! alright. xfinity rewards creates experiences big and small, and once-in-a-lifetime. nice footwork. man, you're lucky, watching live sports never used to be this easy. now you can stream all your games like it's nothing. yes! that's what i'm talking about. [ cheers ] running up and down that field looks tough. it's a pitch. get way more into what you're into when you stream on the xfinity 10g network. >>> well, no disappointment. good morning nvidia shares jumping after numbers that were better than the whisper numbers. surge in demand for the profi

nasdaq composite four points, .03%. 13800.h, all of them except for amazon pulling back 13 cents. look at the price movements, not that much on your screen. we did have earnings that came out before the. i will start with roadblocks, it's down sharply. >> new bookings missed targets waning demand for video games and more competition. not a terrible report if you look at the active users, ours engaged, all of 20% and over 200 brands that have experiences on roadblocks on the platform where you have plans and the like. wall street didn't like this number. stuart: is not a good report from the electronic games business. >> tons of competition. stuart: tell me about wendy's. >> revenue is like that came out $561.6 million but breakfast sales, white night sales all strong and increased by 200 basis points because of higher prices and that's why it's up one and third. stuart: after the bell, disney, they are reporting. stock is a little bit, what are you looking for? >> how many disney+ subscribers potentially left the streaming pla

we talked a lot about the performance of the nasdaq recently coupled with rate volatility. what you want and what you're getting from this company is arr growth, and that allows you some visibility into earnings going forward when we're in a very uncertain -- customers have born out very uncertain cost os capital, interest rate, and credit environment. all of that is a pretty positive setup. when i'm looking at names and looking at forward earnings and multiples, this is about 44 times, which anyone would agree is pretty expensive. but this particular pocket, given the arr deserves a premium multiple in a market where perhaps the nasdaq is starting to underperform. these are the type of names i think you can still pay for because they're showing continued growth and profitability. i think it's that coupling there that makes them a bit more impervious to criticism you're seeing across the board in other nasdaq names. >> julie, what's your take on the quarter and i guess particularly the revenue guidance coming in disappointing? but to bonawyn's point, profitability. >> i thi

back to nasdaq, down .83%. i presume most of them are down again except for apple still below $180 a share. medic, also but, microsoft, amazon on the downside. some companies reported before the bell this morning including our parent company box corporation. >> it's up 4%, advertising is coming back in a big way. advertisers are still cautious but appear willing to buy slots on dominant networks like fox. add revenue at just over a billion dollars, overall avenue at $3 billion. stuart: i was looking at eli billy earlier and saw a solid gain and still 11% -- why? >> all-time high, the new buzzy diabetes drug, popular for weight loss. just give an idea of how successful it is, $980 million in sales versus 16 million a year ago when it was first introduced. 16 million 2,979,000,000. stuart: i'm sure they will take that. you aa. >> at leisure, stock is up slightly. the issue is they were probable, north american market is challenging because there's lots of competition. nike, lululemon, you name it. stuart: ups. >>

the s&p 3, nasdaq 7. david, welcome to new york. know you are a bear and you are looking for serious trouble in the market in the near future. how have you missed the ai boom? >> we cannot miss the ai boom, we have hands and little bit of everything just to be able to make sure we are looking at it properly. i am in it. it has a got further to go. >> i'm in an earlier place in my life than someone like you. so i've got time with this stuff, cost averaging in, things are working out right. neil: i read your stuff. why gold? you want to get into gold now? >> it has real value to it. if we look where gold is today it is 1950, 1971, we are looking at if it gets to 2100, it will go pretty quickly. if we look at their valuations relative to the s&p 500 never been a better time to be looking at gold miners here, they produce something, have tangible assets in the event those go up but if i see one layer to this, silver will outperform gold in the next couple years, 78:1 ratio here today, you can produce 9 ounces if you look at normal suppl

nasdaq down 298 points.thers discovery set to report earnings before the bell tomorrow. here is what analysts will really be looking for. they will be eyeing the effect of the ongoing writers guild strike quickly approaching its 100th day. as the writers union is set to resume settlement talks with hollywood studios this friday. to kelly o'grady. kelly, the studios yesterday broke the stalemate. they reached out to the writers. good sign? >> reporter: that's right, liz. i actually want to bring this to you. this is breaking news, sag after florida, the union that represents the actors, they're urging their members to come back to the table now that the writers are coming back to the table. the studios reached out to the writers guild. they proposed a meeting to reopen the talks. writers have been on strike since may 2nd. that makes it exactly three months today. for the writers two bilge sticking point. also for the actors as well by the way, artificial intelligence and streaming residuals. the writers are a

a very solid gain for the dow industrials and loss for nasdaq composite and nasdaq down 23.ook at this, it's an op ed and why the bubble burst. adam coleman wrote that and joins me now. first of all, adam, what proof do you have that it burst? >> well, basically nearly a third of people who are within this particular industry are out of a job. what you saw was a rapid growth after the death of george floyd. you saw over 100% growth within the industry so it's not just within the corporations but also within the outside companies, consulting firms who supported the dei industry. stuart: we've been talking a momenting a about the diversity industry, which is alive and very well in the nation's military of the pentagon. >> yeah, i think within corporations, ultimately it's about the bottom dollar. and the reason i knew this was going to be a fad within corporate america within some degree, it may not disappear completely but it'll drastically reduce itself and the reason being is because dei doesn't earn any money and how do you rate the performance of diversity, equity and inc