, and nvidia's rally has forged on., lusk will get it right on nvidia this time around. so we had nvidia's earnings report just last week, andrew. what did you see in that report that makes you think this time it's going to work >> a few things. as you put my chart up with nvidia, some of those are trading calls and sometimes the stock got ahead of itself and many times it did and who could have ever predicted the crypto rise or some of the other situations, but not all of those calls -- were not short the whole time straight up and that being said i got short before earnings and the stock went down and the stock recouped its losses and they're doing the kiki dance and they're going to 300. i just don't see it. i think he's been a wonderful ceo, but he's moving the target completely right now and how about this, i watched cnbc religiously and i've not heard one person say the word rate tracing up until yesterday and realtime rate tracing and now that's the reason to own the stock. it's a gaming stock. we saw auto, and g

that being said, apple keeps surging ahead and closed at a new all-time high and see how nvidia nvidiaeacts tomorrow and if you start losing these leaders that's really the problem for the market. >> i don't like how technology acted today either, to be trithful it shows you when you hear when we send our undersecretary of trade to china to have conversations and the market reacts the way it does how important trade is and trade is the narrative that is dominating the market, and so i look at it and hear larry's commentary saying that america's crushing it is a very incredible positive to take out in a week where we're having turmoil in general, i don't know we were positive about the way technology traded. >> watching nvidia and seeing the earnings come out in a quiet trade and we'll see how it trades tomorrow and we're starting to see shorts come back into the sector, given the m and a profile given that no deals get done there and that's a little bit concerning for me right now. >> having technology, i don't want to say stutter, but slow down compared to the performance so far this

to reiterate, nvidia shares are falling in after-hours seeing -- trading.s were looking for higher third-quarter revenue. lighter than expected. let's get you to first word news with mark crumpton. is askingident trump attorney general jeff sessions to file a federal lawsuit against certain companies that by manufacturer opioids. the president said today he is directing the attorney general to file a separate lawsuit rather than joining existing lawsuits filed by states affected by the spread of the often lethal and highly addictive drugs. the president once sessions to look out for opioids coming in from the u.s. from china and mexico. he says those countries are " sending their garbage and killing our people." the top white house economic adviser says china will send a team to washington this month for talks aimed at defusing an escalating trade disputes. larry kudlow told reporters at the white house today "talking is always better than not talking." firsteting would be the between senior and u.s. chinese officials between -- official since the beijing t

nvidia can see 7% and applied materials. >> look at index and nvidia, most of the names had unhappy resultsn price actions following the earnings in the week what we know is the semiconductor index. before you can exceed a high, you likely contend with it so what we know is that this level is exactly the former high and if i were to draw lines, today the index closed at 13.54 versus the high of 13.62 years ago. and we are right there and struggling there moving forward n vir nvida. the semiconductor index and we have something known as a triple top on the relative performance of the s&p look where we are here we are above this level on the absolute but we are below this level here it is deterioration anyway you want to look at it finally, the sox index and trend line we bounced off of this line repeatedly the problem here is, after bouncing off we didn't make the new high it is shallower and shallow we are. it is a star in my eyes. let's put the video up rather than looking like a bounce off of the line, a ricochet it is compressing and to my eye, that looks like the beginning of what shoul

materials and nvidia implying a more than 7% move in either direction.pplied materials could see a more than 3% move which game are you playing, cb dubs >> most of the names have had unhappy results following earnings over the last week or so so i wanted to look first at our setup. don't we know that the semiconductor index has returned to an inherently different level and meaning before you can exceed a high, what we know is this level is exactly the former high in fact, if i were to draw the line, today the index closed at 1354 and it reached a high and literally, we are right there and we're struggling at that level. >> moving forward, the semiconductor index has gone on to make new highs and yet the performance to the s&p has stayed stuff, never can we make a new high and if i were to draw the line a different way, we also have something which would otherwise be known as a triple top with the relative performance of the s&p and consider this, look where we are, here. we are above this level on the absolute it's deterioration any way you want to look

this is the one i've been waiting for, nvidia.he sentiment leader, we've seen all in major correction territory the sox is down 10% from its high if you lose nvidia, this sector will have a hard time coming back, in my opinion. >> and struggling right at its dotcom high. >> interesting. >>> up next, i got your eetwts and the final call oh, and there's the closing bell. (sighs) i hate missing out missing out after hours. not anymore, td ameritrade lets you trade select securities 24 hours a day, five days a week. that's amazing. it's a pretty big deal. so i can trade all night long? ♪ ♪ all night long... is that lionel richie? let's reopen the market. mr. richie, would you ring the 24/5 bell? sure can, jim. ♪ trade 24/5, with td ameritrade. ♪ i'm not really a, i thought wall street guy.ns. what's the hesitation? eh, it just feels too complicated, you know? well sure, at first, but jj can help you with that. jj, will you break it down for this gentleman? hey, ian. you know, at td ameritrade, we can walk you through your options trad

think about this on nvidia.f of them upgraded to buy, not a single one downgraded. upgradedthe one who was richard schaefer at oppenheimer. one of the key things about nvidia is it is transitioning to a new shift called -- chip called the touring -- turing. so perhaps there is some choppiness in this recent quarter because people hold off on buying chips that they are holding off for the next generation. romaine: they are holding up, they are trying to refine it and get it done. the stock is still up 20% on the year. there are a lot of confidences about these chips specifically and how they will work in the gaming sector and the demand you will you there. out that we point nvidia is up 130 1% from the end of 2016? from the end131% of 2016? ramon bostwick, thank you so much. time for the bloomberg business flash, a look at some of the biggest business stories in the news today. shares of tesla are falling. elon musk said no one saw or reviewed his controversial tweet about taking controversial carmaker tesla priv

that's good for nvidia i think it needs a rest and this 4% sell off is enough of a rest. so i would be a buyer, but you know, another 5 or 6% lower, i get interested not interested right here. >> i agree 100% with what john said i think there's a silver lining to h this. and thest the old expression can stick to your knitting so to speak. do what you do well. i think this allows him, gaming particularly, something i think people could be excited about. up 57% and so with that, they have room for upside, but you have to let this story play out for a few days to see where the stock settles in this is a pretty significant hit. >> you know i think also we want to expand the discussion to more than swrus nvidia. obviously the chip sector has had a bouncy few week, but it's had a good year to date and a good one year. nvidia outperformed. the question is what do you do with the sector. the chip sector is cyclical. the u.s. economy is hum iming along while there's wes about the economic recovery from last year most developed markets are expanding. this is good for chip demand an

no surprise and what i'd like to trade here is nvidia just a lot of consolidation and no activity oft break. i like the look here and if we just clear this and outline this about a 265 level and obviously, we've had some upgrades here pointing to above 300. i would like to trade here and i would like to break out above 265 and the risk/reward and the risk in 1x, and i like nvidia on the topside. >> next up is amazon, and this is just one of the most boring, beautiful, uptrending charts on this beautiful parallel channels here and guys, you have to make sure you're switching over to the chart, and you're looking at percent change, and when you do that, you will see an usual up trend. >> it's really not whafrs bought it was oversold and it shouldn't have a problem hitting 2k. we won't hit resistance until 2500 in amazon that looked like two two to go, and i almost took long on apple and apple acted really strong in a very bad case here the stock looks great and sort of the same phenomena with the parallel channel on a semi-log chart and be sure to set your chart that way you will see a

one, what is specific to nvidia and what is specific to semis. to intel to microchip to lrcx, they're all upped pressure some down 70%. we have pressure on the group and obviously you have the biggest one, besides intel, nvidia falling i can't imagine that it's going to stop after one day. i would bet further weakness >> it seems like the best performing in the group, doesn't it had over the course of the last 20 years, the earnings and stock have been lower, you wait another week they're down on average another 200 basis points you do have a little time. certainly if you're thinking about buying it i wouldn't do that here. i think there's probably little more weakness ahead. >> overall semis you're negative >> i've been this way. this is the sentiment leader we've seen taiwan intel semi, they're all in major correction territory. the sox is down 10% from its highs. if you lose nvidia, this sector is going to have a hard time coming back. >> struggling from its dot-com high >> up next your tweets and the final calls from the options bids the clos

. >> all the big stocks you've seen lead recently, even the ones like nvidia, adobe, the stocks thate been real leaders in recent times. facebook, more recently it's come back and given back most of its gains. the energy sector has been very bad and netflix. those are very big moves >> i want to turn to victoria here because what we saw is how defensive its become again this week so your top sectors are real estate, utilities, consumer staples and health care. and this is part of the miracle of this market we keep getting this rotation when big leaders like tech fall back a little or aren't as strong, other groups come in are we going to see a continued turn to value in the next several months >> i think you're going to see a small term to value. what people are probably doing is taking a bit off the table from those growth stocks we've seen the sectors that have been leaders year to date. the technology to consumer discretionary, those are the ones lacking this week and we're seeing great earnings from the retail numbers coming out, at least a majority of them and there's anticipati

nvidia falling 3.7% >>> is nvidia's bitcoin warning a major red flag for bitcoin investors? not today. bitcoin is up 3% it has been a wild ride lately let's get more on this story lou kerner joins us from crypto oracle nvidia, you want them or amd you buy their chips because you want to do that mining nvidia saying looks like fought chur demand is sl future demand is slowing down. does that worry you? >> it doesn't worry me demand for chips is a lagging indicator based on the price of bitcoin. we knew that the price of bitcoin went down, the fact we're seeing less demand for chips is what you would expect to see >> in many countries where energy costs are higher, ie south korea, it becomes unprofitable or less profitable to mine the coins. >> exactly at a higher price you're willing to put more chips to work to mine a bitcoin at these prices it makes less sense to do that you always reference bitcoin to gold you note gold's market cap is $110 billion >> that's where bitcoin is today. >> 110 billion but gold is at 8 trillion? >> exactly >> i could make the argument you're doi

among the biggest tech contributors microsoft, amazon, nvidia and netflix.

. >>> nvidia is our call of the day. why? because they got double upgraded today to outperform at wells fargo. that's after more than two years with a sellrating. our call of the day. they raised the prois target to $315 still up 30 p% on the year. let's preface this before you guys trash it. prior analyst. who had a sell on it for a long time. stock was up 1200% over that period of time no longer covering the company new analysts resumed, assumes coverage of it. thus the double move preface that before you rip this person's head off. how about the call like to get in >> i think it's okay it's a stock with an unbeliev b unbelievable run still a cyclical industry. the reason people love it is because nvidia a is really the go to chip supplier for artificial intelligence and that as we know, is just widespread and growing like gang busters. if you want to play that, you buy nvidia i think it's a little rich for me to buy it here? >> i disagree with every single thing you said, but i love you any way. >> i knew he was going to s

how much has this crazed fueled the rise in nvidia?u had something that was $280 billion quarter markets. now it is nothing. how do you like that? that has gone away in the space of three quarters. that is taking tension away from their other businesses which are growing like weeds. emily: is there still potential for potential for cryptocurrency there? >> we've seen many companies come and go. you can mine these things, it becomes good enough so it is investing money to make custom chips, and he will do the same job. therefore, your standard chips become less efficient. for them, it is a technology cycle. we see a new currency coming in and maybe it will be a new boom for them. emily: my chart showing the comparison of the chip sector to the broader tech sector. you see a big diversion's there. what has been fueling this? >> chip stocks are prone to this boom and bust cycle. if you look at the philadelphia semiconductor index, it was up more than 35% over the last -- each year in the past two years. this crypto revenue was sort of the

which of these segments is most reliable for nvidia and which is most vulnerable?stingly enough, the core structure of their model is the architecture -- the graphics processor. that has now become powerful and portable across the different applications. it is not like they are making four different ice cream flavors. they are making one flavor, but you put it into four different buckets with a slight twist on that. the product is applicable to all of these workloads, gaming, processing, in data center processing, ai, ai training specifically. gpu's have become accelerators for those kinds of work loads. and in the auto, advanced parallel processing is required, so it has become applicable there. the theme is now applicable across all world. nvidiare you expecting to talk about these cross-country currents across all world, especially as trade tensions pick up? >> they are highly exposed to china and gaming specifically. gaming cafes in china are a big beneficiary of their upkeep cycle. buts going to impact them, thus far, chip companies have not talked as much, ba

, trader focuses on nvidia earnings, i'm going into that. ashley: sarg is fired up especially with the wal-mart numbers and then at the cme, to the point about wal-mart, the numbers for this economy here in the united states continues to be very impressive, and it's pretty broad based, if the consumer is happy this is an economy that's going to hum along very nicely right? is there anything that can knock it off track? >> well, you know these numbers were blowout blowout numbers. the market cap now 300 million, almost in wal-mart, but you know it's kind of the perfect scenario for them, because they announced these great numbers, fantastic guidance and it also came on the heels at the same time of the china tariff talk announcement, and though we haven't really talked much about what the next bombshell may have been with tariff talk, it could have been retailers. now, maybe that's off the table so this was just a golden scenario for wal-mart coupled with the fantastic economic news that we have seen, and this is just quite the scenario. yes,

micron, a darling of the semiconductor space is perennial value trap is down 20% we have nvidia coming on thursday that stock is up 1,000% in three years. if you lose that one from a sentiment standpoint >> we'll talk more about the semis later on what do you think about today, pete >> yesterday i bought ea, and i thought that was a good buy. that was my pick last night and i added, and i had already owned microsoft and i added today. i think microsoft looks like a breakout and whenever i look at a breakout i look for 10% higher. >> the tesla stock will continue as elon musk tries to convince to go fda. it will be a good one. we'll separate pact from vugz -- now he's headed straight to zero chip stocks a term ing to make a comeback as they lag behind the sector. the one name he thinks is about to brake out we are live in sometimes square in new york city much more "fast money" right after this >>> welcome back to "fast money," more details coming out about elon musk's plan to take tesla private and it's hard to separate about what is really going on at the company. so for that, we turn

has, i love nvidia, but their chips -- his chips are ten times faster he was using the old chip. 100 times faster it sounded like jensen wong, a visionary, he put together inindividual yachlt what has he done made it for gaming, for movies, made it for autonomous cars. he has the best chips and the fastest and they run with less heat, which is what really matters. people want -- the people who use the chips are environmentally friendly they want less heat really important remember what millennials want less heat. i don't know -- >> and they don't read reuter's. >> yeah, they don't read reuter's but they turn around -- when they buy something the first thing they turn it around and look how many ingredients there are, if there are more than eight ingredients they say no millennials are fickle i spend a lot of time thinking about millennials. >> i know you to do. >> you have to they are everything. i want to do a two for one split so i can be a millennial. >> dow is up 61. let's check in with seema mody and see what's moving on the floor. >> after two days of selling market staging

. >>> wells fargo doing an about face on nvidia.and putting that double upgrade on it. the fast money traders will tell us how they are playing this red hostk.t oc if these packs have the same number of bladder leak pads, i bet you think bigger is better. actually, it's bulkier. always discreet quickly turns liquid to gel, for drier protection that's a lot less bulky. always discreet. thanks, janet. it's welcomemy happy place. store. you can learn how to switch to xfinity mobile, a new wireless network that saves you cash. and you can get 5 lines of talk and text included with your internet. and over here i'm having my birthday party. dj fluffernutter, hit it! ♪ dj fluffernutter simple. easy. awesome. ask how to get $300 back when you sign up for xfinity mobile, and purchase a new samsung phone. visit your local xfinity store today. >>> shares of macy's plunging today despite beating earnings expectations. still on deck for tomorrow j.c. penney, wal-mart and nord strom. >> joining us now is jay sole from ubs. liz, you want to commen

call, a bit of track talk between nvidia and tesla, and now vice versa. to this. >> i appreciate elon's comments about our company, and i also think tesla makes great cars i drive them very happily, and with respect to -- with respect to the next generation, it is the case when we first started working on autonomous vehicles they needed our help if it doesn't turn out, for whatever reason, doesn't turn out for them, he can give me a call and i would be more than happy to help. >> it shows you how much is riding on the car as a data source, right? when these things actually go live and scale, they turn out data in ways that few industries in our daily lives do. >> the other thing i draw from the story, despite all of this, the elon musk tweet is from yesterday at 7:30 at night he hasn't stopped. this is in response to elon musk -- >> and he says he has no plans to stop, though the board has asked him to curtail it. >>where he was tweeting, the circumstances around the tweet they were able to confirm that he hadn't preroughed the tweet or run it past anyone

bring in a second in command from micron somebody who's looking t nvidia. but can't get the brass ring >> only for a little bit longer. yes. my range judge i think it breaks the 200 day here we're right at the 200 day so i'm not really so fond of the goldman sachs cut here, scott because you know, si and a host of others did it when the stock was in the mid 50s now that kucinich is gone june 21st or something like that. >> you'd be a favor of the cut if you think the stock has a lot more downside zblchl i don't think it does. i think 45, you're getting a gift if you buy this stock at 45. now it's not there yet it's $48 stock right now, but it's breaking the 200 day i think and will stay under there r for maybe a week or two, but then i think it goes back to work because of you know, the person like jim said, bring in some proven leader, i think this thing gets back. >> i just want to point this out. monday morning, stock was called out before the open. down something like 3% has rallied the whole week same thing happens today get the downgrade. goes down 3%

stocks are on track for their longest losing streak since april after disappointing results from nvidialist are sticking behind on newpinning hopes high-end chips scheduled to hit the market next week. investors are wondering whether we are on the verge of a new downturn for chipmakers as a goldrush spurred by sales to crypto miners ends. in san francisco, we have our semiconductor reporter and, in new york, we have our senior .ditor, michael egan how much has this crazed fueled the rise in nvidia? >> you had something that was $280 billion quarter markets. now it is nothing. how do you like that? that has gone away in the space of three quarters. that is taking tension away from their other businesses which are growing like weeds. emily: is there still potential for potential for cryptocurrency there? >> we've seen many companies come and go. , itcan mine these things becomes good enough so it is investing money to make custom chips, and he will do the same job. therefore, your standard chips become less efficient. for them, it is a technology cycle. we see a new currency coming in and

nvidia reports earnings tomorrow. nevertheless, the stock fell 1% to 259.08.potle was upgraded to overweht from equal weight at morgan stanley. chipotle's turnaround is working and sees the stock surging 20%. the price target is $600. shares close tup 6% 525.89. buyhasbro was upgraded to from neutral with mkm partners. investors should anticipate a nkterial recovery in the next two years t to the company's toy line expansion. the price target now $115. that stock was up a fraction today to 98.71. western digital was downgraded market perform from outperform at cowen. the analyst cited competitive pricing in the industry and a cost structure that was not as efficient as those of its rivals. price target $70. that stock fell more than 1% to >> prices are on the rise. so what can you do to protect your portfolio from inflation? ♪ome possible aners coming up. ♪ ♪ >>> senator elizabeth warren wants to see companies and ceos more accountable tomployees and during an interview with mad money's jim cramer, the senator said she's introduced legislation which r woulduir

nvidia falling 4% in extended trading. what is bitcoin doing today?ht at your level. >> ready to buy? >> below 6,000 where are we at now? 6,500. bounced off six. >> brian kelly says it is a great entry point. >> does he >> he's been saying great entry points along the way >> 20,000 was a bad entryway did it really hit that >> it hit that, but you could have never sold it at that the point is, even -- the problem was anyone who had it at 20,000 was on coin base drying to sell all their bitcoin. >> liquidity issues. >> exactly >>> google employees are demanding answers about the company's plans in china after a report surfaced that google is secretly building a senscensore that version for the country hundreds of employees sending a letter to google's ceo saying it raises moral and ethical questions. google workers were told the company was not close to launching a search product in china, and it's unclear if it ever will. the rise of the employees is an interesting situation. >>> also door dash raising another $250 million in its latest round of fundin

stock up 80% of the year and what was the best-performing stock in the s&p 500 what was it called nvidiaat's one of the biggest competitors in different areas, ai for cloud computing and servers. there is a lot of stuff going on and i think this is an asset that's too dollar cheap if you're trying to compete with nvidia to me the price action thing speaks to something going on >> for everything options action check out our website. options action.cnbc.com. it's what i'll be reading this weekend. what are you waiting for here's what's coming up. >> oh, snap! >> you won't believe just how much traders see snap is moving when the social giant reports next week. plus, calling all options action fans, reach into your pocket, grab your phone and tweet us your question at options action. if it's nice we'll answer it on air when "options action" returns. see that's funny, i thought you traded options. i'm not really a wall street guy. what's the hesitation? eh, it just feels too complicated, you know? well sure, at first, but jj can help you with that. jj, will you break it down for this gentlem

susan and phil >> thank you >> as we head to break, take a look at shares of nvidia down 4.5%.ssure this morning after lowering its current quarter guidance despite an earnings beat stay with us this isn't just any moving day. this is moving day with the best in-home wifi experience and millions of wifi hotspots to help you stay connected. and this is moving day with reliable service appointments in a two-hour window so you're up and running in no time. show me decorating shows. this is staying connected with xfinity to make moving... simple. easy. awesome. stay connected while you move with the best wifi experience and two-hour appointment windows. click, call or visit a store today. >>> dow's up 81. s&p is up one. "squawk alley" is back in a minute >>> door dash has just raised a $250 million round of funding months after closing a $533 million round. the start up says it tripled its business this year an when he joined me in the spring, guys, the ceo said he's raising this money to expand outside major cities this is a high stakes battle for the suburbs when it comes to deli

nvidia disappointing outlook. that's likely to weigh on chipmakers.f infineon, dialogue. applied materials come their outlook missed on both earnings and sales forecast. that is likely to put pressure on companies. the entire chip sector today is likely to come under a bit of pressure. matt: all right. fascinating stuff. good thing to pay attention to, especially for tech investors. annmarie hordern, what's the story with schiller? >> if you have been on -- schindler? >> if you have been on any of those walking escalators, they invested their full -- missed their full-year guidance. we are already seeing the stock moved in premarket. likely we will see that stock top at the open, matt. matt: all right. thanks very much. sam, also appreciate you for joining us today. viewers can get all the latest stock stories from the equities team. just type in first ago on your bloomberg -- first go on your bloomberg. it is definitely an important app to use if you are investing in stocks. guy? guy: we are now four minutes away from the start of european trading. o

materials, along with nvidia, getting disappointing news on the chip industry. applied materials falling as much as 10% since late 2008, it 10%he most -- as much as since 2008. joe: there has been hardly any movement in the u.s. government bond market, and the two-year down. two-year is buying,h all this you're not seeing much. scarlet: the dollar is down versus the 9g10 currencies. the norwegian currency is the exception. the loonie is higher than expected hitting 3% since 2011. i wanted to point out the chinese jan. commentary that china is propping up its currency as it prepares to restart trade talks. it will be an obstacle as they begin talks. what would be complete without a mention of the turkish lira rounding off its first weekly gain since july 20. and again for three straight days before today so you see the line moving up. that is the dollar strengthening versus the lira. it ends with a gain. the threat of u.s. sanctions remains an overhang. turkish markets close next week for public holiday. traders may have been hoping for a public response from the

it is the end of the road for nvidia's crypto gold rush.it has right of faster than expected. sell $100ted to million of chips in the second quarter, but only managed 18 million. they say revenue is likely to disappear, with stop dropping in late trading. joining us to make sense of this is bloomberg's across asset team. first of all, how worried should we be? how worried is nvidia? the video card makers always saw this as a bonus. they never really wanted to believe in this in the long-term. they did not hold this into their projections. for them, it was nice to have while they had its, but they are not overly worried. it did not feature in the long-term. francine: what does it mean for bitcoin? is it to bust? >> we have seen bitcoin dropped 70%. it certainly does not feel as hot as it did. that said, we have seen cryptocurrencies drop as much as this in the past. you seen them drop more than 90%. we are near levels that look quite interesting. but the coming months will be telling. francine: why do you miners need a video cards? >> they l

talking about the likes of nvidia, let's look at japan.the one-hour lunch break, which is just upon us. we see what nvidia has been saying here. what about the likes of some of hese japanese chip makers? >> they are nudging lower on the back of those disappointing forecasts from nvidia, as well as applied materials. bloomberg intelligence saying this could be an inflexion point for semiconductor players. earnings growth has been growing but when it comes to some of the ratios, some of the valuations, the multiples, they're not looking as strong. we have screen holdings in that space in japan. up early 23450%. also i want to highlight what's going on with sony rising. this is a company that says to date it has sold three million playstation v.r. systems worldwide. also in the wake of china's freeze on game licenses, goldman sachs said that sony as well as nintendo remain biased given their low-profit exposure to china. and panasonic gaining ground after confirming it will offer solar sells -- cells to buyers aside from tesla. that stock up

weak.oking 4%.can see nvidia down over nvidia had earnings where they saw sales of the cryptocurrency chips plunging at 94% from the previous quarter. brought in just $18 million of revenue versus the estimate of $100 million. the isalysts expected this become a billion-dollar business and that is looking less likely at the moment. let's switch of the board and bring you a g chart showing how the averages are performing weekly. you can see only the dow jones doing well on a weekly basis. we also have the nasdaq down and s&p barely holding on. the s&p still buoyed by walmart news yesterday that sent the stock plunging -- sent the stock raising by 10% and boeing doing well helping the dow jones weekly. let's look at a couple other earnings movers. tariff affect on farmers' capital spending. tesla is falling today after elon musk gave what was described as a tearful interview to the new york times where they said no one had reviewed his tweets about taking the company private and he talks about his stress levels, saying he was not getting any sleep using the sleep aid ambien and the boar

i want to point out nvidia, that is a company which makes chips and material for the bitcoin and thethat is very important because that business is not doing well for nvidia, and that has taken that previously high-flying stock down a peg or two. i am waiting to see if it has real impact on the bitcoins of this world and cryptocurrencies. if demand for the chips that go into that business is drying up, does that mean that the price of the cryptocurrencies is coming down, and the business itself is drying up? i would like to know that. at the moment bitcoin is around 6,000 bucks a share. liz: applied materials as well. stuart: that is true. applied materials as well. we're up 21 points for the dow industrials. as i said we are waiting for that tape from the president. i have got the headlines on what he had to say because the president did speak to reporters right before he got on marine one. by the way he is off to joint base andrews. from there he goes to long island. he is going to the hamptons. liz: of all places. stuart: of all places. liz: the president in liberal hamptons? wow.

paul, thanks again we've got to get to inviddia because they just put out earnings >>> nvidia reportingf $1.76. revenue $3.12 billion versus expectations of -- other highlights to look for here data center revenue up 87% to 760 million. looks like gaming revenue comes in at $1.8 billion professional visualization up, and automotive comes in at $161 million. call starts at 5:30 eastern, an we'll be on it >> nvidia stock reporting those earnings moments ago and we're going to get on the phone. what's your quick take here? >> yeah, i think really the hang up here is going to be the guidance for next quarter. there's still a lot that needs to come out on the the call here in terms of trying to figure what thought the actual pieces are, but it does look a little bit light. it also looks like gross margins are little bit light here. so again we're going to have wait for more details here, but slightly disappointing >> just to put a fine point on it, it looked like a beat on both the top and bottom. you're saying there's a margin issue and you're saying more importantly there's a guidance issu

by the way, nvidia tonight i think nvidia's got a problem in the quarter in terms of going up againstryptos my view on nvidia is long term you bet on jensen wong if it does have a quarter that looks weak, it has a lot of noise and the stock goes down, that may be your chance to get in to something that most people haven't had a chance to get into it jensen wong being a genius >> it's locked out buyers for a long, long time. >> jensen is a humble wild man in that he comes on, he wears the leather jacket, he talks a real interesting game. but the man is a visionary he is a 20-year visionary. amy grove, the late ceo of intel, had a vision. this man's vision is transcending most of us. i like to have a glossary next to me on the conference call because he's just smarter than everybody else and by the way, i don't know an executive in silicon valley who would disagree >> that's good insight dow's up almost 300, obviouslyo losses >>> dow outperforming the s&p 100% walmart opens up $10 and cisco opens up, what 2 f $2 or $3 boeing up $3 the dow dramatically outperform being the s&p. speaking

important for them and the gross margins weakness not so buy nvidia. >> i like cisco here. u thanks for watching and see yotomorrow at >>> my mission is simple to make you money. i'm here to level the playing field for all investors. there's always a bull market somewhere. i promise to help you find it. "mad money" starts now hey, i'm cramer. welcome to "mad money." welcome to cramerica other people want to make friends. i'm just trying to make you some money. my job isn't just to entertain but to educate and teach you call me at 1-800-743-cnbc. or tweet me @jimcramer forget fang. this market has fallen in love with wang, as in walmart, apple, netflix and google and maybe amazon should look out a little. maybe time to change our acumen. the strength of the market helped today's monster move with the dow surging 396 points s&p 500 and nasdaq advancing only 4.2%. put another way, walmart with the best growth, walmart, where 100 people are shopping and shopping more than ever before has made us so optimistic that everybody compelled to buy buy buy, causing the stock of the lar

. ♪ francine: it's the end of the road for nvidia's crypto gold rush.les of graphics chips to minors were drying up faster than expected. it expected to sell $100 million for its second-quarter but only managed $18 million. nvidia says revenue is likely to disappear entirely going forward. what does that mean for bitcoin? >> well, we have seen bitcoin drop 70% last year. bitcoin certainly doesn't feel as hot as it did. but, that said, we have seen cryptocurrencies drop as much as this in the past. we have seen them drop more than 90% and then comes storming back. we are near levels that look technically quite interesting, but i think the coming months will be telling. ♪ >> bluescope having an up-and-down day, they beat the highest estimates under news it is studying a potential $700 million usd expansion. good numbers here. what's behind it? >> we are happy with the numbers, thank you. it's a great result, australia is a strong result. a strong result in north america for us. a little softer in asia, but the geographic diversity of our footprint means w

points and dead as a doornail since then the stock, what's it done it's rebounded 22 points, as in nvidia showed off its new chips much faster, much cooler go back to the tape. that's precisely what the ceo jensen told us to expect as he came on the show hit an all time high today before reversing into the bell you had to buy the shares of this amazing company envied by nearly everyone in silicon valley right into the teeth of the decline and buy them when andrew left and popped up in a bunch of media outlets what i can only tell is an ill informed short case he later said last night he covered most of the short positions. hmm. you heard me give you this complete list when you should have bought and how you would have done, i'm giving you the one you can take action tomorrow get this down. i want you to write it down. talking about children's place p-l-a-c-e. this stock was down today after a beautiful quarter, double digit same for store sales, to take on its competitors. we interviewed the ceo earlier this year in florida where she traced out a solid plan where she can take on all comer

nvidia or no >> get off the bull.reat story, they've been on the cutting edge of some of the gaming chips. bottom line here, there's a lot of competition, there's questions about their current gpu's that are coming out for the new games. we've had a tremendous run, look at the stock, it's been marched for the last several months, i'd get off that bull. >> remember the guy running for president from vermont i know you didn't vote for him >> howard dean >> yeah, remember that that was the sound you just made >> i guess that was -- >> we don't need you any more. >> double check howard dean. we have a mimi thing >> you have united rentals, keep riding or get thrown off >> have you ever been to the rodeo? >> no, you lie like a rug. >> one of my first dates with my husband, he took me toll cheyenne and we went to the rodeo. >> is that how you knew? >> i won't tell you what they do to the bulls to make them buck. >> it's a family show. >> put up whatever graphic you want. >> you look at the last quarter, pretty significant q

we're in a pause moment and let nvidia come in and you buy is nvidia a leader not today. you'll regret it i think you'll regret it and walmart. >> we called it waang last week. >> yeah. saying don't buy our stock wasn't that what facebook was saying don't buy our stock. you should think about other stuff. did they say you should think about other stocks maybe you should think about alphabet is it one of those things? geeze. what a disappointment they suddenly realized the perils of what they were doing. >> the selling of your name. >> yes. >> alphabet hasn't had its day yet. many people believe youtube is not what it should be of cleaning itself up. >> so sodastream is up on that deal going to be acquired by pepsi. >> alibaba is on the move. people feel happy days are here again between us and china i'm waiting for a tweet. >> alibaba is still down. >> how about a tweet. >> no tweets. >> they're more focussed on the investigation of bob mueller david, i think that the acquisition is important. >> the sodastream deal >> yeah. kimberly clark said they're going to put on --

nvidia is going higher despite the fact that andrew wright is wrong. he's left.right. >> netflix is actually had a couple of -- ever since we noted when i came in on monday and said what happened there things had legs. >> what is that, david >> i don't know. >> it's not a lot of new releases. >> just momentum. >> yeah. >> not a lot of room. >> no. business drives that stock. >> what drives that stock? >> they've got a new cfo there. >> yes. >> they do. >> a new talented, you know, the pr it's all good there. >> will comcast breakthrough >> it's like shareholders. >> i don't know. we have to keep an eye on the sky. process it has a ways to go. we're talking into september which is more than 48 days is up. >> terms of what they're 1975 that comcast is out there on today. oil is up nicely. >> you mentioned something earlier that is worth repeating. we have a number of times. will the chinese let any deals occur? >> it brings me back utx, by the way, hasn't gotten approval that's the hold up the deal should have closed and utx, i believe, it was split that deal is no

netflix up 3 microsoft, nvidia, doing well. i'll keep going. >> yeah, keep going. at the beginning of the year, we talked about when would it kick in for the consumer to start feeling that little extra in their pocket >> we talked about whether or not that would be moderated by crude oil prices and distillets going up this year certainly, it's been a headwind against the airlines however, consumers, as soon as that first quarter ended began spending right at the end of that first quarter, judge. you look at macy's, last three months, macy's up 34%. taking a look at the likes of target, up 18% luckily i'm in that one. kors up 18% or something like that >> like the s&p, the sector has had this i don't want to call it a stealth run because it's not like no one's focused on it but again, the headlines are in the sexy parts of the market >> right and yet, this is what everybody around the desk talked about at the beginning of the year. wait till the tax cuts start focusing, or filtering in, until the consumer is actually measured by retail spending, driving these things

. ♪ >>> nvidia reports on thursday get this, tonight wells fargo goes from sell to buy., right on the eve of nvidia reporting and a new chip they came out with i don't know i mean, this stock could be breaking out i like to say there is always a bull market some where i promise to find it just for you right here on "mad money." i'm jim cramer, and i will see you tomorrow >> welcome to the shark tank, where entrepreneurs seeking an investment will face these sharks. if they hear a great idea, they'll invest their own money or fight each other for a deal. this is "shark tank." ♪ with his idea of the next generation of costumes. oh, lord. are they people? (whirring) ha! ooh!

. >> it's pronounced nanometer i own this, nvidia, amd. this has the slowest growth. had a great dividend i bought it on a breakout. it looks like it has to hold around 47, 48. speak to my breeze i'll be gone and i think it's probably the more exciting story. you get above 20 ond good vol up close above there on the week. i think the entire outlook for the stock as growth vehicle changes. it's a long way from being in the position just looking at the two, if i were to be out of one, it's intel sooner waiting for price to dwif me the signal that the long trade here is dead. >> you don't think there are more exciting stories to be b told. >> no, i think there are i'm in qualcomm, corvo i see opportunity here i think you know there's no mention in the note of the mobile eye acquisition whatever you think about vehicles, autonomous vehicle, et cetera, there are more and more chips going in there i think i sea you shaking your head which means nvidia is where you're going >> it's too small. mobile eye is too small to be a driver >> if you want these vehicles -- at this pri

comeback it's the best performing sector of the past week while fang is leading the charge sales force, nvidia and paypal all joining in on the party. guy? >> yes, sir. >> tech's back >> when did it leave there was a bit of a lull. >> facebook. >> netflix >> should we go on >> i don't think netflix is a tech stock, but that's an entirely different conversation and that stock should have gotten obliterated it did not adobe is another name, huge valuation and it didn't sell off that much and the tech we lock at every day sort of hung in there. >> a lot of the glamour name, in fairness, a lot of the glamour name his a bit of an upset facebook. >> intel has had issues and facebook is its own animal so i would push back and say yeah, there have been names that have had issues, but tech has done well. >> the lead singer, and it might be one of the worst ever i think there's rotation we've seen him fall out of favor and i don't think that the semi story is over, and i think the high multiple, high-momentum stocks are in a prove-me period and say what you want, but this market has been led by transpor

adam: breaking news overnight in the world of cryptocurrency nvidia shares tumbling after the companyorted second quarter results disappointing their investors falling below wall street estimates taking a look at the stock right now you can still see trading down, we're down about almost 13 points but the chipmaker is pointing the finger of blame at this point for its woes saying that the firm's revenue was affected by a significant decrease in crypto mining and that it does not expect to make blockchain- related sales for the rest of the year and pointing the middle finger at bitcoin so our next guest says while we are in a bitcoin bear market for the real believers, he's a dj that turned down a lucrative job on wall street to revolutionize everything from music to money using blockchain technology and here in a fox business exclusive is early bitcoin investor dj and music producer and it wasn't just any job you turned down it was blackrock and i was reading an article in which you made i think you said that year $2 million so you made the right choice i think a lot of people would s

like in vnvidia i would let it come down and that's my dog for heaven's sake let nvidia come down. >>when we talk about when we get the opening bell? i think we're going to talk a little tesla because we haven't. >> i want him to be healthy again. he's not sleeping because he, you know, i don't sleep because i can't sleep. >> all right we got an opening bell my mike is working the employee of the year, anna. [music playing] (vo) progress is in the pursuit. audi will cover your first month's lease payment on select models during summer of audi sales event. ♪ ♪ ♪ ♪ the difference between possible and impossible? it's a person who believes they can, surrounded and supported by others - by us - who believe it, too u.s. bank - the power of possible. the opening bell is sponsored by u.s. bank, the power of possible >>> you're watching cnbc squawk on the street. we're live from the financial capital in the world the opening bell in one minute from now which is is a good opportunity for me to turn to you and say, okay, give them what we know thus far this morning. what is the key to the marke