if nvidia were to emulate that, it could go to almost $10,000. know that preposout of tech a oil, health care and some industrials. one thing that i do find antithetical from my own style of investing, i'm waiting for subscribers feel and feeling a little defensive as of late that we haven't bought everything tech. and i have been wary of being swept away by the recent euphoria, because i know that pull backs happen like today. that's why you need to diversify. remember my view, i said when we get pull backs brought on by extraneo extrainoe extrainous circumstances. that means you're going to get another chance to buy it at a better price. perhaps next week at this time. i never sanction going out there and paying for those growth stocks up, up, up. chasers get hurt, and that's exactly what happened today. no need to chase, these names will come to you. that's when you make your move. the hottest stocks do cool down, they shake out the weak holders and they start all over again, and that's precisely what i expect the stock of nvidia to do as earl

i want to be known as nvidia.hat's my sar cass it particular way of saying, whoa, come on! it has gaming chips and it's switch. >> it's a great company. google is a great company. there are a lot of great companies out there but you have to understand these are companies who have stock prices attached to them. because of that when you add $12 billion because an upgrade from citi, the crazy part, as i wrote, the bear case on citi was $100. that's the bear case and that's where the stock was a month ago. so it's over optimism. it's discounting the competition. it's understanding -- not understanding the market factors. of course nvidia is not a fraud or a scam. it's a wonderful company. unfortunately, it got way ahead of itself. >> you're talking about two different things. you're saying the stock got ahead of itself. jim just gave you many of the reasons i'm sure he has more up his rolled up sleeves of the fundamentals of this company to justify the optimism behind it, maybe not at such elevated levels but you get

i like nvidia on the top side. next up, apple, we were talking about this in terms of a trade i like it. lower. we will source this parallel channel which defiance support off these two swing highs and as we dip down, right around the '01 $138 region, it's definitely one for a tradeable balance or a rent as you guys were talking about. the other one is netflix i don't like i have to disagree with guy on this one, if you take a look at the nasdaq here, this is the qqq in blue. will you see this guy has made a higher high. what has netflix done? it's made a lower low. this is one of my horses in the 2017 stock draft and i think tim seymour is comfortably in first place. >> it's a long season, my man. thank you. >> you are stupid value. so netflix has had a very big under performance. i'm taking a back seat in that contest. as you get off this one, will you see netflix has not only under performed the nasdaq but broken support here over since the election lows, so unfortunately, netflix is under performing few want to

nvidia will be up again today. i have a wrap on nvidia. was thinking of changing my name to nvidia. >> would you change it to the dollar sign? >> why can't i be like -- the ceo, i e-mailed him i. thought it was -- >> it was that quick. >> maybe he's an algorithm masquerading as a man. >> he might be. >> jim, as for politics, i think it was march where you called the high water mark in nationalism. >> yeah. that's old. >> out of dutch election, then we had macron and now uk. >> why a squirrel finds a nut. i felt that the dutch election thoughed that -- showed that the dutch election even with the overtone of terrorism, nationalism peaked. why it peaked, people kind of said, you know what? we're -- this not the way that europe goes. it's not the -- italy is a concern we don't talk about italy enough. because they could have an election, don't forget -- >> yeah. concern there. >> people think there was fascism in hungary, i was there a few years ago, i wouldn't go back because of what i'm hearing. budapest is in beautiful. but they're in jeop

huge balances, huge recoveries nvidia, we'll get to later so, i think if you've been overly focused on month to month macro data over the last five year, probably you're underper foming and not making people money. >> andy, you want to comment on what you've heard from the gang? >> wow, kind of agree with everything, which is pretty rare that you would agree with everything on these kind of things first of all, on interest rates with stooefrks i think we are if the fed's job is to control inflation, it doesn't feel like there's too much money chasing too few goods out in i keep telling people i'm 1% worried about inflation and too much growth and 14, 15% about something going wrong in the world than we get another dip for whatever reason. i absolutely agree that i think we're going to gkeep limping along. nobody likes to hear it, but it might be ten or 15 years a rong time, but in that vi environment, you get into valuations on markets and my get is is that's good for business i don't like to use the word stocks anymore but businesses -- businesses ability to grow earnings with better

now this is well run he's brilliant but david nvidia is picking up nvidia is not amazon it can't take can do very well. it's in the switch, with i is the hottest games. it's in autonomous cars but, you know, you can only make so many chips. and i do think that it can be the next intel which has had a remarkable run as you know it's not going to be the next intel this afternoon. >> no, it's not. so do you think it's over done i mean, do you compare it in some way then to a qualcomm in the late '90s, into the 2000s? that run up to the dotcom boom even though the business is doing extraordinarily well, to your point, it can only go so far? >> well, i think that i would give it -- it's like on the jersey turnpike, it's going 78 i would give it a speeding ticket it could slow down it's faster than all the other cars my big issue here, david, is not necessarily that it won't get much higher eventually i just don't want -- the speed with which this thing is going and how much faster it is than every other stock reminds me, you know, it still -- it's featuring who its end markets are. its end

and it's not just nvidia. is going to have so much impact on so many companies. it's going to create a new network of devices essentially. >> that are not code written. that's one of the things jensen is talking about, the internals are very different from what we now expect, and it's like, it is a total next generation chip, as if when remember we had d-rams and intel came one the 286, he's talking about a leap frog next generation and no one else is there yet so you probably wonder why does that stock keep going up? it's because the earnings are going to continue to go up. it's a really marvelous company. >> speaking of all these names on the nasdaq anyway, the spoke had a nice chart of what happens in a year where the nas 100 is up in the first 106 trading days, as it now is. some years it's up another 50%, for the remainder of the year. other years not so much. down 15%, 20%. >> we need it to be a little broad. the ones i'm looking at, that are unstoppable, the third one will shock you, tesla, people are s

. >> let's talk about some of your other holdings -- do you own a stock like nvidia?now that's not on one of your top ten holdings, but do you own it >> i don't own nvidia. another one where i think the valuation is a little ahead of its. >> how about microsoft >> actually, i have a midsize position in microsoft. i like what they're doing on the cloud. in fact, in the pullback in the recent weeks, where you had a 5 to 6% correction in a lot of tech stocks, microsoft is one of those i added to i know the panel was speaking earlier about the low volatility and these small, short corrections that you have sector by sector. i think those are the types of things you should look for in tech to buy the companies that you like and microsoft was one of those i added to a couple weeks back >> let me throw up nvidia and ask you another question about that when you as an experienced tech fund manager see a stock that has done incredibly well, like this one does it make you nervous does it make you question sort of where we are in general in the cycle or no? >> a little bit. you k

they're going say that nvidia stock went too far watch nvidia, watch alphabet, watch lam research butthe big value stocks like the banks like the oils. the oils are value stocks. oil bottomed ahead of -- the stocks bottomed ahead of crude. >> banks had a good open up about 1%. >> nothing happened there. watch autodesk it will hold 100 i think. >> with all of that t dow is down 61. we'll get "stop trading" with jim in a moment. our brains so we can share our amazing trading knowledge. that's a great idea, but why don't you just go to thinkorswim's chat rooms where you can share strategies, ideas, even actual trades with market professionals and thousands of other traders? i know. your brain told my brain before you told my face. mmm, blueberry? tap into the knowledge of other traders on thinkorswim. only at td ameritrade. it's been over 100 years since the first stock index was created, as a benchmark for average. yet a lot of people still build portfolios with strategies that just track the benchmarks. but investing isn't about achieving average. it's about achieving goals. and invesc

i think it's amazing there is no tron hold intel if nvidia pulse back him if i'm a investor, i don'tant to forego that intel will work in it takes some time. >> there is so much concentration. >> i'm into that >> i tell you there is a good level with nvidia, it's the top from january and it broke out on the earnings number. if you get it back there. >> what year is there? >> '17. >> i'm getting a little old right now, june, the last year was scent 2016 it's still trading 35.5? >> yes i'm with you that's my point. up advisors see that they own it >> they say -- >> you guy -- guys make the assumption everyone has an appetite for a rick like this. they don't him i'm trying to say all the thing that you say about nvidia, there are some things going only in other companies. look at what intel has done with the balance sheet, how they're deploying tear resources to get the next two - >> how about qualcomm? >> they made great acquisition i think this is a company where the valuation makes a lot of sense. we are overwhelmed by apple. a they did a fast pitch on it. >> they're trying to salvag

yet i felt that the analysis was a bit more than a speeding ticket for nvidia. the stock had accumulated for going up, up, up we agreed to that today when scott wapner's halftime report and it got a lot of tourists i love that. and these tourists were easily panicked, they were fellow shareholders that had to be shaken out with nvidia down from 150, down from 168, is that enough of a correction to get him started with some buys certainly at 1.68, i think the answer is yes. but i also have to tell you, that the first buy if you missed the bottom today, may not be your only buy. the second reason for the decline, kind of thoughtful, but i think mistaken downgrade of apple today. new name in the stock. i thought it was hey. was trying to get ahead of the eventual lett down of the stock like all the hoopla that's being built up here ahead of the supercycle launch. so i think it's ill advised. okay, for starters, the report talks about the valuation of the stock being too high in reality the stock is cheap, in relation to most tech growth stocks and all the consumer

now, look at nvidia. this has been one of those jet fuel stocks, up in a big way over the last year. trigger does seem to be the short seller at citroen research saying this is a casino stock. we need to see what happens in getnext quarter to really behind it. really taking the entire sector lower. finally, taking a look at what might the happening sector rotation-wise, have a look at the bloomberg. is a chart out of the inauguration, since president takenhas been elected or office. s&p 500 up about 5.6%. the tech sector has really helped out. leg lower.g that since the inauguration, the financials have really been negative, that now up 2%. you can really see that sector rotation. as far as if it last, i did just ask someone at oppenheimer if he thought it would. he thinks near-term there could be more selling, but over the long term, both tech and financials will climb higher. but today, serious settling in the tech sector. what did you miss? the u.k. is still grappling with brexit after an election that

what we have in nvidia is this huge outside day a new high, a new low and you close poorly now, here, three weeks later, this is what's happened. we've gone up and faileded to make a new high and made new lows people who buy dip, which is right to do at time, who start to lose money, the very money that came in and drove it upstarts to accelerate on the way down as they want to get out quickly having seen maybe a mistake in the buy there's nvidia here's google. this huge drop which was three fridays ago then what's happened since we are lower. that's not random. keep going not one of those stocks has recovered. huge outside day it, too, tries to recover and it's at the lows keep going here's the entire semiconductor index. this huge outside day and then where we are now lower. in fact, we're making new lows the money that comes in here, thinking this is the time to buy dips accelerates it on the way down talk about the whole sector. the whole sector, here we go all right. s&p 500. june 09 to june of present we have bounced off the top. off the bottom, off the top. off the bottom over

all we got was a short seller hollering about market fade and cramer and nvidia and a large hedge fund sending back investing in a lot of fine names. the usual catalyst, botched quarter blamed on the slowdown and migration of the cloud or sudden decline in orders to what seems to be apple all of the sudden -- maybe some weakness in search none of that happened. no there was no breakdown so there was no reason for the analysts to follow-up yesterday with more down grades, because there was no actual shortfall, there was no tech massacre in fact, the only thing that did happen, an unusual sunday night downgrade of apple, seemed like a pylon given apple traded terribly friday. thanks to a story arguing its fight with qualcomm was off the rails and the company would be hurt when qualcomm decided to withhold its new high-speed chip and that's something i could not confirm from the apple side of things there was no real approximate cause for the tech pullback. there was no -- off the rail situation but we did get the usual cowardice from tech yesterday as so often is the case, they totally h

nvidia ran up hugely because of the great fundamental story.e what do you watch in terms how deep it goes, next move, and how significant it is. >> sure, in the context of semis, the stock index itself, it's now 11 months without real meaning reversion, and that's the second strongest stretch in record it's not necessarily bad if you are bullish, you want that if you are bearish, you think it's the beginning of workforce. either way, you want some sort of -- nvidia is friday, so telling, to flair up high, close on the low, volume 92 million shares, and that's an outside day, reversal day, and it's not constructive >> thank you, carter talking nvidia >> yes >>> meantime, the wireless wars heat up. sprint hoping to give customers all to jump ship with a year of free service how that shakes up the industry. first, shares of kroger closing down 19% on weaker same store sales, can the supermarket chain keep up with increasing competition? that's next. ♪ approaching medicare eligibility? you may think you can put off checking out your medicare option

david: john, do you think the bull will continue with nvidia?like it, artificial intelligence is going to increase human intelligence in staggering ways. david: if anybody knows about-- it's your staggering intelligence. john, i didn't know you were a movie buff. >> i live at the movie theaters and that's why i close amc entertainment. i think investors don't realize how much people like the movie-going in addition to the films. >> he's right, people like to go out, but it has stiff competition though. david: that's it for forbes. thank you for watching. have a wonderful weekend, keep is right here, the number one business block continues with eric bolling and cashin' in. eric: as lawmakers focused on all the hearings this week, it seems they're not hearing america's cry for help. take a look at the recent fox news poll. there are issues that americans are concerned about, most concerned about, look at this, government spending, the economy, infrastructure, north korea, terror and the job market. russia meddling, that's seventh on the list. whil

nvidia for one. short seller came out and said the huge gains in nvidia this year are basically making it look like a casino stock. this is a short seller that people really pay close attention to on wall street. when he speaks and mentions the name of a stock, people sell and ask questions later. they do not wait to hear his rationale. the bloomberg story on apple today saying the upcoming iphone will not be able to take advantage of the faster data download speeds the telecom companies are working on. that is possibly going to put it at a disadvantage to competitors. while it was mostly a sector rotation type of story, there was some negative news especially with the chipmakers, weakness across the sector. the philadelphia index was down more than 6% at the worst point of the day. it pared some of the losses but they were the epicenter of selling. emily: nvidia did not recover. we will be speaking with the reporter who wrote the story referenced. mike regan, thanks for that update. in the u.k., the

i'm using paradigm or nvidia. you can see that now, they're up do you think that that could be sustainable or o at the end of the day, do you say this is going to start all over again tomorrow >> since they don't have a catalyst for what it was, i mean, pete and josh have cited twitter and josh just now on the show, the viking liqucquidation that could have been a trigger or people that follow that potential strategy that could be, jim i don't know i can't think of a really good reason for these stocks to be down for amazon to fall to 945, which it did, then run right back up. i don't have a good reason a good catalyst for that >> there isn't a lot we're not in earnings season >> i don't think they've had a down here, including '08 >> why is a way to -- why does it have to be anything more. that play momentum trade and didn't know. they don't know what amazon does just a retailer, aws just point it on the charts. >> i'm not focused on these sellers. i've got to be in this land research so powerful. now, look, in a

nvidia, go have some roast beef. >> nvidia is your fourth biggest gainer and then lenar had gains todayove the lenar quarter. you're looking at lenar and thinking how could they do even better 91 cents versus 74 back log increased what happens is that sellers come in with home builders the pattern for the longer term has been up. and lennar is distinguishing itself for being just really, really fabulous. there's a lot of undercurrents in the semis nice note about marvel i think marvel hold to buy back crest. it wouldn't surprise me if marvel gets bought gets bought. >> by? >> by -- consolidation is going on in this business. there's a positive note about micron people want these little parts companies. i shouldn't call them little they're actually pretty big. they want good things to happen in this group because like jp morgan, who is very good, says don't sell micron. they want to keep the balls in the air. micron needs to take out its high, though doing well off an article that they are ahead of intel. intel mobile does well new guy, new support partner this is the group to buy if you

. >> a huge outside ve versal, names like nvidia, closed a big reversal, 90 million typically it's 20 million shares. you have a lot of armchair talking number of stocks and potential indices as we go into next week. >> your point, we have xlf. if that will stop contributing. if you have energy in the last couple days, we seen the actual commodity be under pressure. you see guys chasing. i will use that quote/unquote chasing exxonmobile. you get caught up on a yield play, on a valuation play. if that happens now, yesterday you guys talked about nordstrom's. that's running to be private. there's going to be other companies, american eagle, abercrombie. you watch these guys who is going to go home short these names? they could get dragged private. it's not worth the risk. it's not worth a bright future. i think it takes that short overland and forces people to buy a retail sector that's been thrown out. >> we talked about trades and the impact of ets, particularly the qs. the qs today we saw extremely heavy volume, 4.5 times the volume traded in this particular session. did we see that

other industry leaders that would be involved, amd, and hpe, and ibm, intel and nvidia .remain largely unchanged. now if you believe that the next big global war will be fought online, this is crucial that united states have the best weapon to win. moreover the computing power in the games will have a an amazing impact on nuclear warfare games and help police, and terrorism campaigns stop recruiting for terrorists fine cures for diseases. i know that nvidia is monster in the group from an investing point of view, keep an eye on amd . amd is benefiting from bitcoin. coming up, america's opioid crisis is spiralling out of control. we'll be right back. (upbeat electronic music) ♪ i'm living that yacht life ♪ life, life ♪ top speed, fifty knots life ♪ on the caribbean seas ♪ it's a champagne and models potpourri ♪ on my yacht made of cuban mahoghany ♪ gany, gany, gany, gany ♪ watch this charles: the opioid crises is out of control in america. 365 deaths in -- ohio. chicago has quadruple population. joining me now to discuss this, dr. mark siegel, dr. kelly powers, thank you.

they couldn't even name the ceo or tell me that nvidia does. it was a trading event >> the problem is, every time sort of growth has its pull back, this blow off top, whatever you want to refer to it as then value gets a bid, everybody says is value back finally back it's been out of favor for so many years is value really back look at small caps are up a half percent today. they've had a nice move. industrials, energy's had a bit of a move. >> friday and monday, illustrated to us how that's these things happen. i agree with the other gentlemen, however, none of us are demonizing it. it is the way of the world now it tells you for instance when we talked yesterday on halftime, judge, about how much the vxm had moved and was that a tell. it almost doubled from friday's low to yesterday's high, the vxm nearly doubles that's something you almost never see. that's a sign of a blow off and that's indeed what apparently we saw. now, quickly, when you look at brexit, when you look at the election and when you look at yesterday, these event time frames

the cracks in armor of tech, they began with a lot of short sellers, nvidia.ed tech names back along with paypal, i think that is a screaming buy. market upbeat by fact that senate going back to drawing board on healthcare, we could get a cbo score friday, and might even think something in, in terms of a vote, that would be huge news for the market, and a sign that trump economic agenda train is finally moving out of the station. the broad market, look at the charts which you get a chance, the major indices, almost embarrassing to admit a lot of investors in last 48 hours were on the edge of panic. the underpinnings keep getting better. sycamore partner awaring staples. wish them low luck with that. >> seattle thought it was doing hourly workers a favor, raise minimum wage to $15, they have wrecked the lives of those very same workers, we'll tell you how it happened. i was warning for years that it would, we'll be right back. thank you! ♪ ♪ wait, i have something for you! ♪ ♪ making every stay a special stay. holiday inn, smiles ahead. whether for big meetings

these are the days you do that very interesting because yesterday goldman had to bump up nvidia nvidias the ultimate battleground because it's doing very well. but tim cook, might want to jump up and down on artificial intelligence and they have nothing in their quiver. but they're throwing asset aileen on the rotation and janet yellen is trying so hard to be a nonevent and we confuse people she said that things are okay. we get the claims numbers, they tee best in ages yes, we don't have wage inflation but you know i have to tell you if you attribute the decline that we're going to see in spelunk and alphabet and nvidia toe anything that yellen said, it will be a real stretch. i'm not going there. >> so you don't think there's any deserved nervousness about the treasury market behaving like or preparing for a policy error by the fed >> i would have thought that if interest rates were not going higher today we have a real tell. we have dramatic increase in rates. it's only about a third to where we were yesterday, but if rates had gone through two today i might have adjusted my thinkin

nvidia is directing any of the residence. it gave people the liberty to be present.ood there was not a harsher approach. they could not be verified. people just leave that distance from it. you can't tell them to go. also, there are buildings in danger in other parts of the estate and the kensington academy. safiyah, we appreciate your time. when you've been there throughout the night. thank you very much. safiyah, who still has people she knows living in grenfell tower still unaccounted for. we wish you the best. that is grenfell tower, blazing throughout the night. on behalf of the council, that counts —— the kensington and chelsea council, my colleague greg dawson has been monitoring this event. for viewers joining has been monitoring this event. for viewersjoining us, has been monitoring this event. for viewers joining us, making has been monitoring this event. for viewersjoining us, making up this situation taking place, just to bring us up—to—date with what has happened so far. the fact that we know. a lot of speculation about what happened, he was living there

we have to point these out, because not everything is nvidia i had to name my dog nvidia, because it's. >> i learned that while i was in detroit. other -- i named my other dog chevron, because he's such a loser. the dog doesn't love me. thee kicking it when it's down. >> let's talk about oil, because i have a wrap. >>> about 42.70. give me the wrap. >> i went to my best rusty brazil he runs rbn energy.com, around for 30 years he said the media percentage in to 17 oil production hedged by 37 significant u.s. oil producers. bloomberg report he's reporting. soared to 46%. at the end of 32 of 37 had 2017 hedges what does this mean? they sold so many above-50, the futures that they have cash flow coming in all the time, which means you may think they're going to stop and the saudis certain thought they would stop, but because they sold so much futures, put the cap on oil, they sold so much forward, they have the money, so they're not going to stop as people thought they would that means that they can the rig count tomorrow may not show much decline of growth, which is why it's so hard to st

nvidia finish slightly higher but the other ones came down.ne last point, even though we do have a tech selloff on the year, the nasdaq and nasdaq 100 are up sharply, 17%. we will see whether that dip continues or if we are going to see tech continue this selloff. emily: abigail doolittle with the roundup for us, thank you so much. for a broader perspective on the tech landscape we are joined by mitchell green, partner at lead age capital with $1 billion in capital under management. alibaba,ts include uber, and spotify. what is your reaction to the downs we have seen in tech over the last few days? >> we take a very long-term view. thank you for having me on. we have seen dips and ups and flows. we still own a lot of alibaba and we take a 10 year view. silly, but we have a huge opportunity to have time arbitrage. a $400 to $500 stock in a decade, earning $25 per share, compounding it 24%. it is similar to what amazon compounded revenue at for the last decade. emily: when you look at the tech valuations in the private and public markets, do the

the firm expects nvidia to decline back to $130 today. it's $149.eanwhile snap is lower for the fourth time this week with citi downgrading this snapchat parent to neutral from buy and trimming its price target. the firm cited the expiration of the public offering lockup in august plus disappointing user and monetarization growth. that stock down 4% today. >> elsewhere, treasury secretary steve mnuchin is in ottawa today meeting with his canadian counterpart on trade, defense, and much more. ylan? >> reporter: this was mnuchin's first one-on-one foreign trip. it wrapped up just about an hour ago. but even here in ottawa, he couldn't escape questions about the domestic agenda. at a press conference, i asked him what the consequences would be if lawmakers failed to raise the debt limit by august as he has requested. >> we will be fine, okay, if they don't do it beforehand, but i want to emphasize that i think the sooner they do it, the less uncertainty there is in the market, and that is important to send a clear message to the market that, again, thi

they're in -- number two to nvidia, but everybody is number two, but amd.e analyst meeting where they ratcheted back expectations. a lot of people threw the stock out. it's a new company with a fabulous ceo. doing so many good things. >> this continued focus on augmented reality. we talked to a couple of analysts about it pointing it out. i think the journal came back to it in their coverage of the apple product announcement. or i should say the worldwide developers conference. >> voice is so important. you know when you do voice, trying to un -- that device trying to understand you, nvidia. that's why it had the second wind. look at broadcom, it's in everything. analog devices got hit earlier this week. texas instruments did well. analog devices went badly. apple is back again as the driver. whoever gained market share and broadcom gained a lot of market share. i would not sell that stock. you have to hope that may loses in the election. that's not a month, but a person. >> there's tomorrow. >> right. >> may loses, if the ecb decides to raise rates, and th

nvidia has been hot before the most recent selloff. nvidia down about 1%.esla has certainly been a hot momentum stock. it is trading up by 3%. we have some economic data in the united states. we were talking about the europe economic surprise data. in the united states it has been deteriorating. one of confidence from the national association of homebuilders. a four-month low in june. nowhere near its highest and 12 years, for we are seeing the homebuilders slide today. index homebuilders down 1%. we have to turn on the bloomberg, looking at some of the pressures on homebuilding. homebuilder etf is in blue. it has been trending up this multiyear chart. and index of confidence. it is coming down from the high. inventory is the key line. one of the things that has been pressuring the market and pushing prices higher, including demand to some extent, has been inventory of homes which has been shrinking. the want to take a look at the dollar and the 10-year a day after we got the fed's decision. selloff in the 10-years causing a three basis point bump, and the

i made the point when i compared it to nvidia, whose enterprise market cap has gone around $5.5 billionn while the revenues have doubled. the reason why is the street is giving them credit for new businesses with data centers that are exciting. the growth in the smaller businesses that they are focusing on. similarly with blackberry, if they focus on qnx business for internet, they can get higher multiples, the stock will move faster than numbers would move. similarly with blackberry, if they focusvonnie: we have been g about autonomous driving and there is a lot of poaching of staff going on because there are different methods and one will get there first and be the winner. you are saying blackberry will be the operating platform upon which, whichever is the winner operates. andrew: very likely. is safety.ng your phone dies or your computer dies, impact, you are ok. you would be in trouble if it was your car. issafety and security, that is what they have the enterprise in. they can be the system where you pay nine dollars a month for the security and safety that runs the operating of y

. >>> nvidia unveiling a joint venture with volvo and auto liv.he partnership is part of an effort to develop software systems for self-driving cars. >>> l'oreal and natura signing a contract for the body shop sale. the company announced talks to sell the body shop for 1$1.1 billion. >>> keep your eye on shares of alphabet or google a news conference will be held at 6:00 a.m. eastern sources say she will announce a verdict on the big anti trust case against the company eu regulators are expected to impose a record fine on google over its shopping services this was a long time coming. could be as much as $1 billion >>> on wall street, the consumer and the fed are front and center s&p case-shiller home price index at 9:00 a.m., followed by the monthly consumer confidence index at 10:00 a.m janet yellen will give a speech at the british academy in lonten at 1:00 p.m. and we had hear from philly fed president, patrick harker and neel kashkari olive garden, parent darden results reports results before the opening bill >> i'm just googling what is the b

. >> nvidia is up, amd and micron and others really the combination of tech and financials is makingning. >> yes, and we had that combination on thursday and then we had obviously the break on friday but the financials continued. i want to be sure that people realize that now the tech stocks are up so much if you bought them friday or you bought them yesterday at the opening, those people have to start scalping. some of those people are going to scalp, so don't be so enthused as to come in up big. pick a microsoft up at 70, up a little bit before an nvidia come four because you're a little johnny come lately on nvidia >> retail once again taking it, autonation and simon property, footlocker, even darden. >> that piece was negative about new york real estate and a lot of us feel there is too much new york real estate, simon property obviously is mall based. there's just a lot, double trouble for nyc rents. this morgan stanley piece which was so long, look, it was the best of times, the worst of times. oh, no, i thought it was -- well, actually -- >> i read this in high school. >> it's

personally, i was concentrating so much on interviewing her take nvidia that i got distracted. >> iscarioty as losing your dad to a distracted driver. all i had to do was jump out of a plane today, but i did it so that all you have to do is when you're on the road to pick up your phone. that's how important this is to me. >> absolutely. >> jessica your chasing the story, controversy at the high school where couple of students had their yearbook pictures altered when they opted, despite having a dress code, wearing a trump make america great again to the pitcher. and the president of the freshman class had a trump quote edited out of her end of the year statement. >> there were two students, the first one with the make america great again t-shirt. last weekend it was distributed with this photo instead another the other students whose yearbook photo was edited his name was wyatt, he had an appearance on fox and friends. >> you can call anyone names or say anything you want but censoring someone's freedom of speech is where we have to stop where this stuff happens. it's insane. >> white his

and teaming up with nvidia to develop technology for self-driving cars they're hoping can be deployed on the road by the start of the next decade. that follows a report that apple is testing its self-driving software. shares of hertz 13%. rival avis also rose sharply as alphabet had avis service its self-driving cars. whack over to you. >> self-driving technology will be everywhere soop. >> i could use that early in the morning. >>> a popular weed killer you might have in your shed roundup is under scrutiny. >> state regulators say the main ingredient will be listed next month as a chemical known to cause cancer. california would be the first state to require that kind of warning label on the product. regulators still need to decide how much of the chemical, how much exposure actually poses a risk. >> no matter what you put on your garden, it will be a beautiful time to work outside. a whole new forecast. some cloudy skies to start looking at the temperature trent for fremont today reaching into the 70s. we'll talk about what's ahead up next. >>> and a live look at palo alto across th

nvidia sticks out to me. it's been on everybody's radar screen. at 1:00 it traded is 50 million shares. after making an all-time high the reversal is significant. so if you're looking for an opportunity to maybe get a pullback, this is the beginning of something, the reasonable levels of the 120s. >> what's your fake on the overall it tech roll over? >> my take is this. the vix is telling you everything you need to know, again, below 10. market said these tech names have been on fire. xlf against 23 bucks. now trading to 24. the risk-reward sets up. >> should we find solace that the tech stocks aren't doing well but the market is holding up. >> yes is the short answer. i'm going to go back to the vix and say if there was concern i think you should see the vix north of 11 not 960 or wherever it is now. >> mr.pinterest, welcome. let's kick things off with three stories driving conversation. the latest are from washington. more from canada where steven mnuchin will meet with his counterpart and the latest from l

that's exactly what happened today, with the big names, as well as the semiconductor names for example nvidia and advanced micro. what does all this mean? it means kind of what it always means on wall street. when you have stocks that keep going up, it attracts a whole other class of buyers. we call them momentum players. and essentially these momentum players are just along for the ride. then something fundamental happens, you have the mildest of earnings or guidance disappointments, or in this case someone with influence like goldman sachs writes something that says, you know, fellas, this doesn't make too much sense, and you get a selloff that suddenly accelerates. all right. so is this a cause for concern? for the moment, no. i think it's a relief. there are some signs traders are taking the money and buying less-loved sectors like banks and energy stocks. that would be a healthy rotation using overbought tech stocks as a source of funds to buy underowned bank and energy names. the verdict so far, at least for the moment this does not appear the start of an overall correction. for "nightl

apple, nvidia, facebook.a today was continuing a surge it had been on that had led it to a 55% gain this year. it is still up, but it has paired the gains over the course of the session today. in terms of other ways of interpreting this, or perhaps signs that this was coming -- because a lot of investors sounded cautionary alarms -- here is a look at the xl k. on the top, we have a ratio of valuations within technology to valuations within the s&p 500. on a relative basis, tech has andn that been getting more more expensive. on the bottom are inflows and outflows. just at the beginning of the month, we saw the guest outflow we have seen in more than a year. investors were all ready lightning up, perhaps, some of their positions. finally, what does all of this mean for the broader market. if you look at the weighting of technology, it's more than 20%. and then you have energy around 6%-7%. some investors and strategists have been saying that's too wide a gap. there's too much discrepancy between the heavy weig

some breaking news here on nvidia cnbc has learned that nvidia is going to launch graphics cards specificallyesigned for cryptocurrency mining. so, it sounds like nvidia here is going to produce chips designed to do the computing work to make, for example, bitcoin. not clear when these cards exactly are going to be available for sale, but obviously, there's digital currency prices, we have seen those surge. bitcoin's up around 140% so far this year. that, in turn, drives demand for these kinds of graphics cards. cryptocurrency miners use the cards to mine new coins. as to how big that is, chips for this market, i've seen the estimates of about $1 billion. guys, back to you. >> that's pretty interesting it's kind of like when caterpillar or some heavy equipment-maker makes a better machine that can drill deeper. it's pretty cool >> all right, josh, thank you very much. >>> sprint shares are up nearly 5% today on a report that it is talking with cnbc parent comcast and with charter communications for a possible wireless deal this is also sending t-mobile shares down 2% with us now, craig moffet

african, they always have something to say about you, to disturb you, but me myself, i was very strong, nvidiaback there. el hadji diouf. the huge music festival glastonbury has come to a close in southern england. around 200,000 people enjoyed hundreds of acts over the five days. the giant party ended with a day of disco, topped off with ed sheeran playing out on the main pyramid stage. lizo mzimba was there. for many, glastonbury‘s final day was disco dave. there were bee gees classics from barry gibb. staying alive. staying alive. watching from the sidelines, nile rodgers, who later took to the stage with chic with disco hit after disco kit.|j wa nt with disco hit after disco kit.|j want the world to know. clap your hands. a huge crowd watching them in the somerset sunshine. upside down. 0r, boy, you turn me. the somerset sunshine. upside down. or, boy, you turn me. it's notjust people famous from the world of music who have been performing at the sea's festival. yes, but his american film and tv star kiefer sutherland, playing country music with his band. drag your feet. across the floor.

a number of high flyers got hit hard, facebook down, alphabet and nvidia down. then there's tesla floating above the fray, off around 1% since thursday's close, however, chart master carter worth, you say that tesla could be the next stock to join the tech wreck walk us through it. >> well, let's go look at the terms. if the option of buying something that's broken, like that supermarket is selling something that's strong. so you take your chances, but let's talk about it. what we have here is a five-year chart. and i think optically it's quite clear the following is what happened right. we have a nice breakout above. that but i want to sort of zero in on the here and now and try to put this current mover in one we had our breakout. it's quite remarkable how precise, right, it go etc. to the top. it gets to the top it gets to the top backs away and then whips through the high okay, so, now, breakouts can continue and that will be the risk with shorting this, but i think possibly we got the chance for a little of a give back. all right, here's the current move ri

. >> nvidia is getting crushed t.si casino, despite the stock is up more than 40% in the last month. that's food news from mike ko. take a listen. >> you can see here, we bought the the sharp move up here. in fact, if you take a look, this drop that we just had this week stocks were more than $7 lower than it is right now. which is one of the reasons why i'm taking a look out to september and specifically i'm looking at the 10 140, 165 call spread. you can spend $7 for that when i was looking earlier today. >> mike, what was the trade? >> this is a situation where you have to take the profits. we had probably 415 perspread is that you put on. that reversal we saw today looks disastrous, in fact, earlier today, you had a really good opportunity. >> that's what i was going to say, quick question, it went to your top short strike. if you saw that like was it the opportunity to take a profit? because at that point, do you have to wait for stept to get the full width of that call spread? >> no, i think the -- >> no, what i

versus 15 for the nasdaq year to date, up seven over 12 months it's ahead of itself >> let's get to nvidiagetting crushed after short seller andrew neft said it sells like a casino earlier on the move it's up 40% in the last month and that's good news for mike khouw. take a listen. >> you can see here we had a sharp move up here in fact, if you take a look, this drop we had this past leak, the stock was more than $7 lower than it is now, which is one of the reasons why i'm taking a look out to september, and specifically, i'm looking at the $140-$167 call spread. you could spend $7 for that when i was looking at this earlier today. >> mike, what do you do with the trade? >> this is a situation where you've got to take the profits we have modest profits here, probably $450 per spread that you put on but that kind of reversal we saw today looks pretty disastrous. in fact, actually, earlier today you had a really good opportunity. >> that's what i was just going to say quick question it went right to your top short strike if you saw that, like, was it the opportunity to take a profit because

we are watching within the nasdaq, some familiar large caps are outperforming today, particularly nvidiaouncing back to present an apple and amazon. up.pple and amazon expedia was raised to buy at citigroup. and analyst says there are a number of factors including -- including easing comparables. we are getting commentary on sayingvisor, an analyst the european commission ruling on google shopping could be applied to the travel vertical in the future and the positive for some of those companies. mark: let's get back to the european markets with lots of action in the currencies as we hear from the ecb forum and portugal. after theebounding ecb said the market misjudged president draghi's speech while the pound is rising. mark carney says removal of some monetary stimulus is likely to become necessary. joining us is our reporter paul gordon. alessandra is with us. why is the ecb said to be unhappy about the market reaction to mario draghi's speech yesterday? >> the euro and markets have reacted strongly to the speech yesterday. the euro appreciated and bond yields went up, all this risks d

more tech companies hit all-time highs in the session including microsoft, amazon, and nvidia.rime minister theresa may cause out the tech community after the attacks in london saying the industry should do more to stop the spread of terror online. what comes next and the impact on the election days away. bloomberg is live streaming. .heck us out weekdays this is bloomberg. ♪ caroline: now a story we are watching. if the sprint merger with t-mobile happens, it looks like potential lenders might be stuck on the sidelines. in early discussions, a new potential option has emerged. an all stock deal that would avoid the need for financing. they would let door to come -- deutsche telekom avoid paying a premium for sprint with long-term upside. t-mobile has an enterprise value of more than $80 billion compared to about $70 billion for sprint. social media platforms are under heavy scrutiny following the terror attacks in london over the weekend. speaking on sunday, prime minister theresa went directly after the tech industry saying it needs to step up its work to fight terror. >> we