and here's why this salesforce trades with nvidia why?ause this is that crazy etf driven market you have high multiple stocks all trading together here is the problem. if you have another eight stocks, i would say you're diversified. right now these are two of my absolutely favorite stocks so what i'm going say is you can ride them right now because nvidia is very hot, and i want you to own it. bu nvidia gets to say 200, which i think it's going to, you might have to take some change off. unitedhealthcare, disney, i love disney, plus ideas going to be good goldman sachs, major breakout here it's finance, it's entertainment, high multiple tech, high multiple tech and health care. make the change after nvidia runs higher. chad in indiana, chad? >> caller: hey, jim. a great big five-time caller boo-yah to you from south bend, indiana. >> five-time caller, welcome home what's up? >> caller: great i want to thank you for all the mad money you've helped my family make over the years my wife and i want to retire before age 50. your wisdom and gu

nvidia down 40 peppers from the pie xy links guy adami wouldn't show up about every day. now down 30% and looks like it's breaking down. amd was a darling. it just broke the uptrend from the december lows and looks like it's about to fail so you know, intel is in the -- in the midpoint orp below the midpoint of the one-year range i don't see anything. >> in the whole smh. >> two charts that looked good taiwan semi conduct ertz made and texas instruments that's it. if texas. >> mchp tourp. >> and that's what's hold going up because those are constituents one and two i think. >> correct. >> for everything "options action" check out or website "options action" cnbc.com much more "options action" ahead here is what's coming up. >> there is a reason why the phrase too much much a good thing might soon apply to costco mike khouw explains. calling all "options action"s 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. "options action" is sponsored by "options action" is

this deal is a harder deal to approve than the mellanox deal with nvidia.se told me they want the deal to go through so if you're -- the spread is gigantic. >> yes, the spread between what nvidia is paying and where the stock is trading is large because of the concerns that antitrust will take a very long time if at all >> if at all. >> from the chinese. >> you still think there is a chance it doesn't work >> there is always a chance until they approve it, right >> this is -- this is dispositive. this is dispositive, this xxvi deal >> an encouraging sign encouraging sign >> chips at large had a nice run, we got a table of stocks in the s&p that are up 10% plus since the last record close. it includes western digital and sea gate along with a slew of housing, lennar. >> jpmorgan saying flash, there is so many positive comments and i got to tell you, the group had such a big move. but it can go further. still cheap on a price to earnings >> the opening bell, the s&p 500, cnbc real time exchange, big board, invista celebrating the ipo at the nasdaq. exagen, rh

you have companies like nvidia you partner with.your relationship with u.s. companies? david: all of us are paying attention to the trade war but it is not something we have a lot of control over. it means we focus on devising our winning strategy in making sure we keep up our momentum. we have built an ecosystem of partners who are winners in their respective industries, including nvidia and other partners as well. and a lot of these partners have a global presence and local supply chains in each of their markets to collaborate with us. we are headquartered in cupertino, california, in the silicon valley and have resource centers throughout china. so we have been doing global development, collaborating with partners in different regions of the world, and we will continue to work with our partners to push forward technology to bring self-driving talks -- self-driving trucks to market. the sooner the better. >> the silicon valley plus china market is very common right now, but in the trade war there is a lot of concern about what wil

nvidia, hostage, it needs this deal to close, and the chinese haven't checked off on it. if they do get melanox, it makes for the internet of reach out. yeah, hostage. what about semis like zylex, hostage because so many sales depend on china's a 5 g build out, they have told you they diversified away from huawei by the way, they're killing it with samsung, which is why that stock has been so strong most companies that did business with china haven't been able to get out of china with the speed of hasbro or rh. it's easier to move furniture manufacturing to another country than it is high-tech component construction or assemblage, and even a small amount of china exposure can hurt a tech company. cisco has very little chinese exposure but was enough to last quarter, telling a nonhostage story that people thought they were hostage why do i go through all of these examples, you better get used to playing hostage, nonhostage, because i don't have hope for a swift resolution to the trade. earnings season is around the corner, and i expect pre-announcers, precisely because for

nvidia is another.ank has made investments that feel more run of the mill, but you're right, jon. there will be assessment of the founder visionary investment that softbank has made, and i think everyone, including people at that company will be going through the portfolios. >> i'm looking at the list uber is the vision's largest, followed by arm and nvidia, doordash, sofi, slack, they're not all founder stories, that's for sure. >> no. and stewart butterfield is the corollary, opposite to adam neumann or travis kalanick story. you know, i don't want to get too far ahead of myself, but i think that someone like stewart butterfield comported himself in a way that's visionary and business like, and there's proof you can be both. >> turning to netflix -- >> i was going to say he hasn't hit pot in the cereal box at least. >> okay. turning to netflix, that's going negative for the year, more competitors rush into that space. the cover story on netherlands that covers the bet on original content, women that a

the leader is nvidia. they have had most of the shares. they have had them for several years.heir ability to build equipment focused on artificial intelligence, not repurposed from graphics. particularly focused on the problems of artificial intelligence. they do not carry with them the tax of supporting other markets. that is what google has done for internal use and further cloud. that is what cerebras has done for the entire market. shery: it is great to have you with us today. appreciate it. saudi energy minister holding a news conference, updating on the state of affairs. we are hearing they have contained the damage. he did say that some saudi oil supply is back online and that elsewhere, fully back online. we have parts of the system up and running completely. he says they are committed to their customers, working closely. 11 million barrels a day by the end of september. we will see what the effects are on crude prices. there is a look right now. still down on the day. we'll watch to see if there are any reassuring moves after the press conference. coming up, the new y

nvidia, western digital that is and micron. you can see how they moved here up 6 1/2% for nvidia. very big news there. we're seeing big news for companies that have a lot to do with china. now investors scouring for other things that might be advantaged as well from the trade talks. melissa, back to you. melissa: thank you. connell: the other thing today on the data, u.s. adding 195,000 private sector jobs in the month of august, ahead from adp ahead of the highly anticipated jobs report from the government tomorrow morning. many americans are looking for clues how the economy is actually faring. we have paul after sano, paul, add into the mix, the services report, some better than expected, counteracting weakness in the manufacturing. that is almost more interesting than getting into a back and forth with china at least for today. the data we're getting on the economy what did you take away from it? >> i think the new york fed president in a speech yesterday summed it up perfectly. the comment was the u.s. economy is in a good place right now but it is not without risk and uncert

. >>> we have nvidia come in we believe later today is buried atmilatunnel. thank you. >>> 6:34 am.c. start me while the intelligence committee chairman 16 is that the whistleblower complaint is a roadmap for the impeachment inquiry and says the person has had an agreement with the ommittee to testify soon. coaching redheaded. the 2020 election. >> this morning and new poll found the majority of americans beyond that the office is located in oakland. harris was born there. in berkeley. the new camp in space was full of his supporters including representative barbara lee. >>> we have the ability to believe. >>> the latest battleground traffic poll shows harris clinging to the fourth spot. he is as close as the democratic contender campaigned in both. this shows by two point. >>> take a look where the florida senator is expected to talk to does down. posted to twitter throughout the trip singing met with pro- democracy leaders in politics and business. a verizon earlier systems. investigators reportedly implicated the system in the 2 deadly crashes within the last year. the expected s

>> nvidia is down from 2014. guy wouldn't shut up about it every day and now it's down about 30% and it looks like it's breaking down. amd was a darling. it looks like it's about to fail i don't see anything. >> there's two charts that look good a new high this week and texas instrument that's it. >> i mean the market cap. >> that's what is holding it up because they're constituents 1 and 3. >> for everything options action check out options action.cnbc.com. while you're there check out our super cool news letter we have much more ahead. here's what's coming up. >> there's a reason why the phrase too much of a good thing might soon apply to costco mike will explain. plus calling all options actions fans 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. ♪♪ ♪♪ ♪♪ hey. ♪hey. you must be steven's phone. now you can take control of your home wifi and get a notification the instant someone new joins your network... only with xfinity xfi. dow

nvidia up 5%. what this shows me is just how volatile this group has been as it waits the uncertainty over trade. while we have an update for the stocks today, stay tuned. shery: also stay tuned for those implement numbers coming up tomorrow. today, we have a mixed economic picture when we got the private payroll numbers. the u.s. economy adding the most jobs in about four months, but jobless claims numbers little changed. the focus will be on friday's jobs numbers. we have already seen the unemployment rate at 3.7, a 50-year low. that has fueled consumption in the u.s. doing prettyumer strongly, but the focus now is on the numbers. as analysts expect, about 160,000 jobs being added in the month of august. amanda: possibly some more good economic news offsetting the disarray we are seeing in london. the show down over brexit got personal today as boris johnson's brother quit the government and apparent protest over the brexit strategy. while the house of lords continue to debate a bill to block a n

look at nvidia this is a sign, david, that people believe the cycle has bottomed and let's not worry >> yeah, speaking of china, the anti-trust authorities in china are at least starting the review of the deal. >> are you serious >> they hadn't actually taken it for review >> when i was with jensen wong, speaking about the brilliant ceo of nvidia, he told me not to worry. he repeatedly has told me not to worry. >> i don't know. they haven't approved it they just started the review >> i have that insight nobody else has >> not to worry. do you think he would have told you to worry i made a really big maistake >> he gave my dog an identity card my dog can get into nvidia's beautiful headquarters any time he wants >> note to call ceos out there let's talk about the nfl you talk about it a lot now. >> yeah, man i got a fantasy thing going today. >> 100th season, jim tonight, the chicago bears will kick it off. they're hosting the green bay packers. >> i'm playing montgomery. he's going to tear it up tonight. >> hey, it's an nbc game 7:30 eastern >> it's that fabulous? can i play exxon va

nvidia stock continues to go up as if we saw the exceptions to the tariffs by the chinese, i -- remembersaid this will go. you have to watch. >> they're still afraid of chinese antitrust approval, even though it was accepted for the review which you could argue is a positive doesn't mean -- doesn't mean the review has ended it could go on for a very long time could be held in a obey ans. >> people who own nvidia are acting as if they will get it. i like those situations. we have got duelling views >> sky work and micron, western digital. part of the upgrade is about reductions i think in some inventory levels, right? capacity cuts. >> and, look, sky works is a huge component inside of apple and i -- leah griffin has done a fantastic job not navigating both china, the united states. micron, people are saying the inventories are so low the stock was at 37, 38, we had an unbelievable call made by sanjay, the ceo, saying, listening, we're bottoming tim archer, a ton stock for the company, look at that. i don't need to tell you where most of the downgrades came, do i? >> he said looking at th

think about the individual securities intel has never maepd in in nvidia the number one performer for six eight years is not working. mu ment xy link it's not the clear indication people would think any weakness here would trap a lot of people. >> two things i would point to look how the smh formed performed to the second quarter. you saw a 20% decline in five weeks. that gives you a sense how far and fast in thing can move the other thing is because it can do that often times you have the etfs, the options are cheap. we talk about that all the time. here you want to use the put spread though. the reason is if you look out to november if there was a vix november vix for smh we'd be in the mid to high 20s. it's not cheap optionalty you get. you definitely want to use the spread here. this is another one of those situations like the one we were talking about before spending $3 for an 11-dollar put spread maybe more than we otherwise would. but well justified by the fact we have the catalyst coming up we see the volatility we've had and you get the lead in with what we saw from micron. t

i know it's up 20 straight but nvidia is a great company. have to pay up to get great companies but not when they're running. the ones that i mentioned are not running so i think you've got to stand there, buy some and take some pain people don't want to take pain, they want to have whatever is working today. i used to have that too. i've really sobered up and got mature. >> jim, i want to ask you very quickly -- >> i had mrs. nixon. she was super. i hit her in the head once when i was playing dodgeball. she never forgave me. >> i thought that was an imaginary game. >> it's like cricket >> great game. i want to ask you about the apple/goldman sachs card you've been using it for a while. what do you think about it >> well, it's heavy. look, goldman is at eight times earnings i mean that is unbelievable. what the heck is that? and that is because people don't understand the power of the card by the way, everyone has to read the piece about how apple is cheap today. look what they're doing. they're getting rid of partners. do you know how hard

nvidia shows its members saying they are not terrorist. the federal lawsuit sites this it is well. and contractors that do business with the interim. the supervisor says he welcomes a legal fight.>>> san francisco has a proud tradition. sometimes having to defend his position in court. that this means the gun control conversation and closer to background checks or anything at some point, there will be rth the cause. >>> the city's residences is providing support for a terrorist is also an act of terrorism. claims they do provide that type of support blocking legislation. >>> you will be able to start contacting number 1 dispatchers by text message. itis geared to help those who are hearing was impaired. they could also crime victims remain silent in kidnapping situations. >>> that person responsible talking via text message. >>> police admit there are some drawbacks to testing. that could be language barriers. could miss out on nuances their planned to pick up iphone. >>> was get another check on traffic. already things going bad on the road. >>> happening just after this morning.

we landed on a dirt patch in nvidia, -- nowhere, now may be a -- we landed on a dirt patch in nowhere, namibia, to refuel as planned. there was a single gas pump, a waterhole with hose, and some rudimentary bathrooms. the men gave us some privacy as gail turned the hose on me and my dress, spraying me down until i was thoroughly drenched in the desert. she and i then went into the bathroom to strip down and ensure we had washed away all signs of vomit. confident we had succeeded, all that remained was for me to air dry over the ensuing couple hours. [laughter] [applause] welcome to high style diplomacy. [laughter] sounds fun working at the white house. vomit on yourself, get hosed down and back to work. both her parents died while you were working with the administration. i can relate, both my parents died while i was covering the administration. what were some questions you weren't able to ask your parents anymore when you came up for air after a long time working for the government. your dad was a test kiki airman airman, youre mother was a pell grant founder. how hard was it to fin

nvidia pacing the gains.ake a look at the fangs -- facebook, by the way, getting into the dating business with a dating app, and that helped boost after hours. --ulemon defying the did defying the declines we've seen apparel retailers. they boosted their economic outlook. paul: the corporate bond outlook continues to be on fire. dozens of companies continuing to refinance. what is the story? one market watcher called it a frenzy. take a look at the companies that this week alone have sold debt. apple as $7 billion. walt disney, coca-cola, deere and many others. it was to say, apple is probably the most cash-rich company on the planet. it just shows that these plunging yields are making it very profitable for companies to borrow at this time. shery: thank you so much for that. as we continue to see volatility in the markets, one sector that has felt the impact is small caps. the russell 2000 lagging the s&p 500 this year. joining us now is the riverfront investment group senior portfolio manager. great to have

there had been some, though, they traded in and out of nvidia pretty well. >> nvidia is a buyer. >> armthey're marking that >> that was nice. >> how that's doing. sprint, you got to -- if you're softbank, you want that deal to close. get that -- it is segregated, get it off entirely. >> it is a good call they're easy to blast. but, look, the wework model, initially, some of these deals have come last year at this time, we would be, like, wow, these things all came, they took too long >> they came too late. >> they came too late. >> they came a little later in the growth cycle than they would have because of the ability to raise so much private capital. and then there is the question as to whether that private capital is allowing some of the ceos to do things they otherwise wouldn't if they were more disciplined as a result of the public markets >> you should write a book about that that's what happened that's what happened these things were long in the tooth. they trade as if they were public companies look how much they were able to sell. >> of all the things i think that took people's

. >> kirk in california asks, josh, should we buy nvidia here?> no, i don't see any compelling reason to have to buy it here. it's had a nice move off the lows and it's still far from the highs. i talk about charts that are in no man's land all the time this is a quintessential example. there's softness in all of the chips, and i'm not saying that's meaningful, but if you're buying something as a trade right now, there are way so many amazing setups and this is not one of them. >> michael, what are your thoughts on cvs? >> i continue to like it the merger with aetna and the ownership of aetna is terrific we've got the minute clinics and the prescriptions. i think that they're absolutely best in class. and when you go in you can get the pep ridge farm cookies on the way back to prescriptions. at my age you go get prescriptions. >> i want to do a bonus one, joe, because we had a viewer write in, underdog, he says explain when you said blackout period for buying back shares. >> i'll do that real quick and then i'm going to ask courtney for some help

presidential candidates and i think any one of them would be a better president of the united states than nvidiaerms of integrity, et cetera, i do not support how some of the policies that are being advocated and i think it's a discussion. it's a beautiful discussion and that's what we should have but we have to come together that's what our founders advocated from many. they didn't know how many or different but knew we always had to try for oneness let's try to unite the country, not divide it and that's what elections are about. >> when i went on twitter to ask for questions for you, people, the overwhelming theme is that you are practical and you want to get something done and that you can be the leader to do that too much pressure or is that something you view yourself as >> well, i do -- i do think that we have -- nothing is too much pressure for me but i do think our founders, today is the anniversary of the constitution on september 17th, it was approved and benjamin franklin coming out of the room asked what is it he said it's a republic if we can save it. if we can keep it and i think

it's down about .7 have helped multinationals outperform names like caterpillar, schlumberger, pvh, nvidiare up they've had a strong start to the month, but still far off their respective highs but certainly this international theme does exist as we've seen this rally take hold back to you. >> we'll see if it can stay there. thanks very, very much but let's get on to the major business story of the day now. attorneys general of nearly every u.s. state are getting ready to unfail u veil an investigation into google. that announcement is less than an hour away and will take place in front of supreme court. pretty heavy on the symbolism. elan moi is there with what we can expect from this elan. >> we are in count down mode so when they will announce their investigation into google and have been able to confirm that almost every single state in the country will be participating in this effort. clearly it's bipartisan and the state that's leading the charge is texas, attorney general ken paxton is a republican and he has said that the case will really focus on three central questions. one, are

nvidia up 5.5%, macron up 4.5%. -- micron up 4.5%. the optimism on china has given a boost to semis. david: thanks so much to kailey leinz. we continue wait for boris johnson to speak. in the meantime we talked to linda mcmahon. make the large multinational company ww d is today -- w w d is today. wwe is today. she now heads a super pac supporting the president. linda: thank you. a lot going on. david: there is. i want to talk about your new job. you are a successful business person and have dealt with the small business administration. we are hearing some people concerned about where the economy is headed. you enter into your new responsibilities for the super pac and talk to business leaders. are they concerned about giving money to your pack with where the economy is headed? linda: i have not heard anyone being hesitant about donating to the pac at this point. i have learned a lot about super pac's. i came on justin april. -- i came on just in april. it has been a learning curve for me. we look to see that donors most often start t

have children back home that they have a coyote bring across in the drug cartels pay the higher the nvidia have these ngos as you mentioned that get their own cut of the profit. i think what is most offensive to people who really understand the way this works, this is a global human smuggling racket and they operate under the patina umbrella of compassion while they accuse the rest of us of being racists, heartless whatever. the question always comes up about who we are the existential question and they wrap themselves in the mantle of the flag and the statue of liberty which last time i checked was not in the constitution of the united states or any of the u.s. code to deal with immigration law. even if you look at the statue of liberty it's not liberty absorbing and resettling the entire world. >> erase a lot of important points there but i want to close the loop on the consequence of all of this. you mentioned the humanitarian reality of what we are dealing with the impact on american citizens. a citizen and antonio jarret vargas who was murdered last summer and a person of perpetrated

nvidia pacing the gains in chip stocks. caterpillar pacing the gains in companies tied to a topical trade truce. dropping by more than 22%. at one point, it was down more than 30%. a huge about in this company int owns magazines -- rout this company that on magazines. they expected a lot of earnings, and poof! it appears they just disappeared. let's go after hours where we saw the faangs. big boost across the board in these heavily held stocks. facebook having -- a big difference. lululemon doing well by boosting its profit forecast yet again. define the weakness we are seeing. paul: let's talk corporate bonds. the market is on fire. 74 billion dollars in refinancing so far this week. what is the story? su: it is a record since the time we began keeping records. many strategists are calling it a feeding frenzy. take a look at the big names that are putting out bond yields this week. apple selling $7 billion in debt. high grade companies following suit. this is very much about the plunging yield. it is a very cheap time to e

stocks especially those with a high exposure to china pushing the nasdaq to a two-day win streak nvidiap more than 6.5% with revenues from china and micron the smh etf at the highest level since july 30th when the u.s. said it would give licenses to american businesses to continue their dealings with huawei tesla also trading at the highest level since july it noes at great day for calf nated drinks and video games with the worst days here on the nasdaq over to seema mody at the new york stock exchange. >> thank you, frank. a strong day for stocks here in the u.s. but overseas, as well similar to yesterday, the gains started overseas, china ending higher by 1% even europe joined in on the global market rebound despite that lackluster factory numbers out of germany the dow up 481 and we are off the highs of the session but industrials, tech, big banks driving the dow up dow closing at 26,710. s&p at 29 75 up 1.3% a lackluster moves for the day >>> if you are just joining us, good afternoon welcome to "closing bell." i'm wilfred frost. >> i'm sara eisen with mike santoli. very strong day.

what could be more far flung 3500 offices they are winning and when i was at nvidia, they used zoom.hey asked jensen young -- i asked him about it, said, look, they're the best in show zoom had a great quarter very interesting stock down initially, and now going higher which is right because it was a true blowout. >> interesting though we watched slack yesterday do a similar move. >> down 4. >> then it didn't finish down much another recent ipo, that was the direct listing speaking of ip os, yesterday, a lot of reporting on wework even if they do follow their current plan, they're not going to hit the market for a while. you got a number of holidays in late september, mid-october. we'll see when they get there, jim. some encouraged by the resistance of investors to even consider the valuation they originally were going with saying that's a good sign for the market. >> i've used them. they're not the lowest price there are many me too companies in there i think people own this, it is a monopo monopoly there are other players. you can pair them off against these guys these guys have a

nvidia is our growth semi, it gives us access to those high-growth things we would want to play. >> sylvia, what do you want to do in the short-term with energy exposure, which has had a bit of a pop because of geopolitical concer concerns time to take profits or do you think that can continue? >> i think that can continue, but the key word is short-term the oil supply fell from 9.8 to 5.7. we keep hearing news that the saudis will essentially restore the oil supply, but it hasn't happened yet in the short-term, we have seen some great performance out of energy-related, gas and oil related etfs and i think my outlook for that is the next week or so because that probably will resolve itself >> i guess the common thread here, they've all got secular growth stories, but if we do see a turn in the cycle, aren't those vulnerable areas where money has flown into i think they are vulnerable areas because they are growth and momentum stocks, but software a bright spot you have to pick your names. microsoft, $40, repurchase apple streaming services some of these names are bright lights and they con

you think that nvidia would like some of that if i -- you want me to send you whatever -- it is nonmeata cracker looked like baloney. >> all right >> said it didn't taste as good. >> if it is plant-based dog food, that wouldn't be bad for you -- >> plant-based as long as no gmo, i'll feed it to anybody gmo, that's a modified thing >> right. >> okay. >> exactly >> is the president against gmo? no probably for gmo, right? >> right i'm not -- i'm not against it. i mean, every biotech drug we have is a gmo drug. >> the only one i'm opposed to is the one that makes the resistant to any pesticides y s jumping on it. >> i stopped taking roundup a long time ago. that is no good. i used cheetos and roundup, cheetos, roundup just doesn't work >> all right just saying. will you stop the wework deal, please let's stop wework. >> wow all right. let's -- we can do that. we can do that >> thank you, jim. >> stop it. >> we'll see you in just -- >> did she say stop it last night? that would have helped us. >> i hope you talk a little bit about the debates. i would love to hear what you have to say. i'll