those foundries are going to need customers like qualcomm.s is an exciting time, it's important, it's a big win for the united states and global semiconductor industry, and that's great news for semiconductor companies like qualcomm. >> how much of the money do you expect to get because there was a discussion that the guys that build the foundries and the fab plants like intel and taiwan semi were going to get the larger part and people people like you left out in the cold saying what about us? now i don't hear that at all from you, which is fine, but does it put the government in a position where it's picking winners at all, and does that kind of nag at you? >> not expecting to receive the money and super excited about the outlook. here's how you should think about this. a company like qualcomm, we need manufacturers of semiconductors. we have been, you know, working with -- we're the number one customer of samsung foundry in korea. we're between the top two customers of tsmc in taiwan, been the number one being apple. the ability to have mo

qualcomm is growing structurally.s why we are going to end up the year with almost 50% year-over-year growth in the phone market. the most important thing is how we are being very actively diversifying the company. what we said is we have record growth with sequential growth projections for the next quarter and we are seeing that the enterprise and industrial segment has been very resilient. while you have economic headwinds that provide softening computer consumer spending, enterprise is strong. other companies are focused on enterprise and the reality is digital transformation of the edge is somewhat recession proof, but we will see. emily: you are pushing into cars, networks, computers. will you be able to grow those businesses fast enough to whether what could be a serious need ash near-term. >> from what we saw in the coming quarter, we did size the macro economic headwinds on consumer. with that, we are projecting growth of 24 percent. qualcomm has a number of drivers of growth driven by transformation as device

qualcomm, not so good today. are also talking about misses in beats by very small margins. alphabet's ad revenue beat by a small margin, facebook's ad revenue missed by a small margin. that sends a big signal to investors. you wonder if they are over interpreting those signals. - you wonder if alphabet is in a better position than meta. ed: yes. there seems to be strength in search. with alphabet, youtube saw growth, but nothing like a year ago. if there is a shining light for meta, this time a year ago, what was happening, apple was changing its ios settings. that is when we started to see the pain for meta and advertisers around tracking on the platform. the comparables to last year -- last year was a disaster. emily: we will be all over apple tomorrow as well as amazon. apple and amazon, the next to report. ed ludlow, thank you. that does it for this edition of "bloomberg technology." we are also going to be talking to the qualcomm ceo on the back of the results in addition to apple, amazon, and so much more.

that may be a qualcomm specific issue. may still have these chip shortages in the rest of the supply chain. emily: what are you watching? the supply chain continue to evolve. we have apple coming up tomorrow, where we will get more insight into the supply chain. peter: the industry is closely watching wait times around the chip industry and exactly where those wait times are. we've seen a bit of a loosening in terms of the ability to ship these chips. that helped automakers. they are beginning to see signs of improvement. tesla talk about improvements in supply chain, but it is not resolved at this point. this chips act will not address any of this because these chip plants will take at least two to three years before you can get any production online. it will not address the short-term problem. emily: peter elstrom in from tokyo. coming up, instagram is being attacked on its own platform by some of the most powerful figures in social media, the kardashians. could this be another case of the kylie curse? the meta earnings

. >> gordon hasket says it's the deal could come back tonight, ford, qualcomm, meta. let's get to "the half". >>> welcome to the "half time report." the fed decision just two hours away now and meta's mega earnings report looming over ip time we'll get you set with both of the market movers. joining me, degus, steve and liz young, joe let's check the markets and see where the trade is ahead of those big events green across the board i guess microsoft and alphabet somewhat saved the day the dow up 156 s&p 500 at 3978, 1.5%. nasdaq, because of those two earnings reports i just mentioned, up 300 points and the ten-year note yield at 2.77 liz young, big decision, 2:00, two hours from now, followed by the news conference. 75, no surprises or you think there might be a surprise >> jerome powell does not surprises. there will be no surprise, in my opinion. i think the market is excited to get this behind us this continues to be one of the biggest weeks of the summer. here's the thing, we still have gdp tomorrow we still have to get through that we're trying to confirm what e

i think that is important about the qualcomm earnings. the diversification for the company is really working. if you look what's happening in iot, yes, we do see consumer spending weakness. but that has been offset by strength in the enterprise and industrial we are continuing to grow and even as we look at our guide for q4, we're growing 24% year over year and that's because we have iot which has been resilient digital is resilient and of course automotive we have $2 billion to the auto pipeline >> which you have done pretty well diversifying into it's deirdre you say you are better insulated from a slowdown by focusing on the high end side of the market. how confident are you demand will hold up or is it increasingly vulnerable? what are you factoring in? >> we have to be cautious when we think about guide we widen the training because of what we see in the consumer exposure to the macroeconomic headwinds. the fact we're on share wallet, when you lose the units that is bringing down the market which is mid and low, we have less of an im

meta first ever sales decline, qualcomm has a lackluster forecast. we are seeing rallying around 6%, they have good sales despite the fact that prices were also higher. heidi: let us take a look on how asian markets are shaping up to the fed decision, getting more hawkish hikes ahead. take a look at australian futures, potentially a gain of almost 10% -- 1%. the fed is straining a bit as you see the u.s. dollar sliding, hitting the three week low. the kiwi equity session is up by .9%. it continues to be really about the fed processing what the iteris at about he does not see these really high risks of a recession. it will be interesting to see the pricing given, another 75 basis point move that perhaps takes us to a place where it can sit back and wait for the data. it does seem like we are getting more indications that there will be more to come given the that the fed chair does not see a recession on the horizon. back to pack increases -- back-to-back increases. shery: that is why we are skeptical when it comes to the market probably. we had a bigg

we know there's a muddy chip shortage in automotive i actually think qualcomm or nxpi frankly at thesereally really cheap. it's a time frame thing. again, the next month, i don't know the next six months, i feel pretty good about owning those chip names. >> you used the word muddy a moment ago, and speaking of, short seller muddy waters is taking a new position. it's in an energy stock. we're following that money we'll tell you which one, next ♪ ♪ wow, we're crunching tons of polygons here! what's going on? where's regina? hi, i'm ladonna. i invest in invesco qqq, a fund that gives me access to the nasdaq-100 innovations, like real time cgi. okay... yeah... oh. don't worry i got it! become an agent of innovation with invesco qqq space. the boundary of human achievement. the new frontier. ♪♪ eh. ♪♪ it's not time to escape. it's time to engage. it's time to plant more trees. hoo! ♪♪ time to build more trust. time to make more space for all of us. so while the others look to the metaverse and mars, let's stay here and restore ours. yeah, it's time to blaze our trail. 'cause the new fronti

we heard they are extending partnerships with qualcomm as well.ere upside with although there are pressures, there might be some other opportunities for growth? reporter: that is one area. samsung recently said they have started production and was seen as one of the key things is there foundry business which they aim to grow as big as tsmc. that has not really happened. now when the call start, investors will likely ask that question. haidi: let's take a look at the stock price. it's fallen about 40% since 2021. the chart shows it's the cheapest in about four years. dropping below the pandemic low, the 12 month forward path earnings ratio hitting the lowest levels in recent years. will investors think they are finally cheap enough to buy? reporter: that's a good point. the stock price has become cheaper compared with recent years and portfolio managers told me they find stocks cheap enough to buy again. the stock price of samsung has been going not much in relation, the valuations have a lot more of what matters at this point as they try to find t

qualcomm down about 4.5% in the premarket.tive stock this morning. >>> the operator reported better-than-expected second quarter results last night. revenue rising helps the platform. ceo josh silverman says etsy continues to hold onto gains, but pressure is higher than in a long time. it is trading at about $300 back in november. jessica ramirez joins me now. so jessica, is this revenue growth much better than expected? >> so i think we look to etsy and what they have been able to benefit from. so it is definitely better than expected, and what i think is interesting is just that the consumer has been making a come back to etsy . travel is another category that factors in. so overall it is looking pretty good. most of the figures are better than 2019, so again, i think there is lessons and that their experience has been key for them. >> so there has been changes to online sales momentum, whether it is etsy on the positive side , or shopify on the negative side, but what is your take away from what online retail will be like f

modest declines and qualcomm is up almost 4% first republic is off the highs, but another bank name that is positive today let's get out to kate rogers for the cnbc news update kate >> here's what's happening at this hour. as the buffalo supermarket where ten black people were killed in a mass shooting two months ago prepares to re-open tomorrow a federal grand jury has just filed federal hate crime charges against the white man accused of that massacre. immigration and customs enforcement agents are now being told to take additional steps to ensure they are not unintentionally separating parents from their children at the southern border. the new procedures are the latest in a series of steps the biden administration has taken. >>> the u.s. and israel signed a new security pact today reinforcing the common front against iran president biden pledging to use all american power to stop the islamic republic from acquiring nuclear weapons. thousands more doses of monkeypox vaccine are set to be shipping to the u.s. after federal health officials completed an inspection of the denmark pl

the qualcomm call, which was not nearly as bad as people think. they're out for cristiano too.didn't guide down that much, kind of like bill mcdermott. not as good as bill with servicenow, but when he was asked about how apple is doing, it was strictly no comment they don't ever mention that some of your other customers besides samsung, with an extension, and he could have said business is great he didn't say that but he said business is good for high-end phones. apple doesn't sell low-end phones finri, this is not mana from heaven and you're better owning aerospace than you are owning software space >> they do definitely trim is guide on 5g deliveries for the year >> it was not great. qualcomm, if you listened to the call, it's down yesterday, the call was about how we're big in auto, big in ai, we're very big at the edge computing, but the really big one is cell phones and cristiano did not talk about cell phones. he went back for others, which then tells you something 25 ot 25% of their business is good. they have an analyst meeting in september and they're closely linked wi

session with the likes of qualcomm talking about the forecast -- lackluster. slowdowns seem to be reemerging for some of the semi conductor players, so qualcomm was lower by about 3.7%. you talk about the non-phone chip sales surge. but then the 2022 smartphone sales forecast dropped. there seems to be a lot of questions about consumer demand moving forward. david: absolutely. one of our guests yesterday, we asked her about nvidia, she said when you look at gaming and the hardware, that is going to start rolling over also. it takes us into the samsung story, which is a company that frankly, they do so many things and dominate so many parts of this market -- we are starting things off from a purely valuation perspective. going into this earnings season with the valuation at about nine times forward, 9.3. that probably is still cheap, but not as cheap given the earnings and the guidance out of the company. next chart -- it might be a blessing in disguise. when you are getting less guidance as far as with the business looks like moving forward, you might be able

david: qualcomm's president and ceo talking earnings.this side of the world not quite as busy as in the u.s.. we will get to that in a moment. 1300 stocks roughly on the benchmark. it has been good relative to expectations, as you can see here. earnings surprising to the upside as with topline. for context, during a pandemic, basically things collapsed. as far as market reaction goes, you don't see this clearly on your screen, but consumer staples, which first day after they reported earnings, the biggest pop in the stocks so far, which, again, small sample size, and its consumer discretionary which has reported the biggest earnings surprise more so than earnings reaction. as we move into next week, we have over 200 companies in the region reporting. australia has really stood out this year so far, but that, too, has started to roll over as far as earnings expectations are concerned. here's the slowdown story also taking place really showing up in earnings expectations. yvonne: coming up, we will talk more about this phone call between p

qualcomm, applied materials, analog devices and consumer staples are positive everybody else is down but a lot of these losses have been recovered. energy, materials and financials the bottom performing groups check out some of the top performers right now in the nasdaq 100, which is leading this market comeback i mentioned qualcomm, there's costco as well and some of the semi conductors which have been hurt lately on these cyclical fears. we got a big change during the day after some fed commentary. governor waller throwing cold water on the 100 basis point rate hike talk for july. we've got a big show coming your way. we will talk to max levchin following a major down round from klarna. plus a new partnership sending his stock higher today also hannon armstrong is fighting back. we'll talk to the ceo that is the subject of muddy waters' report let's get straight to the market as stocks try to shake off these fed concerns and disappointing bank earnings. the dow was down more than 600 at the lows after jpmorgan and morgan stanley missed wall street estimates joining us now richard b

. >>> shares of meta and qualcomm are falling after earnings we do have ownership on the committee whichwe have a debate coming up. >>> tomorrow night on cnbc, do not miss a special report, "the tech trade" featuring an exclusive interview with chiate wood that's 6:00 p.m. eastern we'll be right back. take the world by cloud. accenture let there be change. bubbles bubbles bubbles bubbles there are bubbles everywhere! as an expedia member you earn points on top of your airline miles. so you can go see even more of all the world's bubbles. >>> check out shares of meta, down nearly 6% the meta miss. s shannon, you own it, kari, you own it i know it's not a big position but why keep something that's not a big position if the stock continues to act like this >> well, have you seen where it's trading from a multiple perspective? this is dirt cheap so obviously the concerns here are of the monetization of the organization the ios changes have certainly hurt facebook. they're talking about monetizing reels but that's just cannibalizing stories and the feed you can talk about the potential for gr

qualcomm down 18%. i am interested in the housing data. what we have seen consistently is a real dramatic weakening, especially with the sales data we got with new sales plunging the lowest into years. how quickly is this moving? it is moving so quickly that some people are estimating you could see a 15% to 20% price drop. at what point does that bleed into consumer confidence and have a website affect? -- whipsaw effect? tom: kailey cannot do the gloom like lisa. jonathan: i will do a price drop in new york anytime they are ready. tom: seriously, what was important was with building permits, multi family exploded higher than single-family. it signals it will be a renters 2023. jonathan: joining us is phil orlando. what are you looking for? philip: 75 basis points today. you talked about the importance of the presser at 2:30. we are looking at jackson hole, that is one month, august 26. what that meeting does is it provides another look at the inflation data, particularly 9.1% nominal cpi number sitting at a 41-year high. by the time we ge

this gets qualcomm has at least one hurdle.he biggest ever take by -- take over by a semiconductor maker. the u.k. will force owners of apps such as social media to give safe list information. the crackdown is part of the forthcoming online bid. >> the eu wants to increase the number of tech startups in europe. doing this through the eu listing bid. the eu has far fewer deep tech firms in the u.s. and china and the goal is to attract more tech and even have them relocate to europe as well as invest in women. >> this crypto exchange signed an agreement that includes an option to purchase the crypto lender. this book exclusively on friday. >> there are synergies pertaining to business. if you look at what they have built out, i think they have a loyal customer base. they have a real fitness model. they have a program that people love. they have strong leadership and i think we have been focusing on infrastructure. everything from the risk engine and everything else. i think there are a lot of ways our products can work together a

anticipated. sending stocks rallying, but we'll just have to see what amazon, what, what apple, what into qualcomm have in store for the rest of the week. thank you. teddy auster there for us. staying in the us, as the pandemic reshape the world of work, there has been a resurgence of the labor movement with unions becoming more popular in april, the 1st successful amazon union in new york made headlines across the world. many of the retailing giants, workers in the us want the same, including one organization in north carolina. the adobe went there to find out more . or brian brown is on a mission. he's on his way to his workplace, and amazon warehouse in gonna north carolina. his to president of course, carolina, arizona, in st. united for solidarity and empowerment. a group trying to build a union at this facility. it's one of the only handful across the us with ryan and his fellow organizers say they're fighting for better working conditions. because amazon has unrealistic expectations and they want better pay, living wages. our number one priority is good, we work a hard, green hours. we work

head of qualcomm. head of tomorrow's gdp read, chair powell headlined why he doesn't think the u.s. is in recession no matter what it comes out at. >> the reason is, there many areas of the economy are point too well, i would point to the labor market in particular. as i mentioned it is true growth is slowing, reasons we mad, the growth was extraordinarily high last year, 5 1/2%. we would expect growth to slow. there is more growth slowing. look at lable door market. payroll jobs averaging 450,000 jobs per month. that is remarkably strong level for this state of affairs. unemployment rate at 30-year low, 4.6%. all measures we track are running very strong and this is strong labor market, that is not consistent, 2.7 million people hired in the first half of the year, doesn't make sense the economy would be in recession with this kind of thing happening. liz: let's bring in bob doll, what investment sense he is gleaning from the statements fed chair powell made and 75 basis-point hike. he is at crossmark global investments. bob, you joined us after the may 4th meeting on "the claman c

lisa: we've heard from qualcomm, we've heard from other chip providers that there has been diminishingd for smartphones, for a number of other personal computing devices. how much is baked in in terms of disappointment versus the unknown unknown of an even bigger slowdown than expected? walter: i think a lot of that is baked in, but the iphone is 50% of the revenue and an even greater percent of the prophet of the company. you have to look at what is going on is -- going on in telco land. if they want to fight each other to grab customers, their willingness to subsidize i think could increase or sustain, like verizon, which is struggling to generate any type of subscriber growth. it does not seem like they are going to give up and give you $800 or not hundred dollars -- or $900 to get a new iphone. that is the data we are seeing. that's one of the offsets to a weaker customer and their ability to buy a very expensive iphone, the willingness of wireless operators around the world, particularly in these markets that are huge for apple, to subsidize that customer to upgrade their phone. l

jeff will g ive the must-watch earnings >> qualcomm, facebook.to focus on the core business even though we saw 150 s&p names yesterday, we're looking at apple. apple always has a great idea and helps us understand what the middle market is doing we saw with texas instruments basically turning things around. nonetheless, we're looking at apple. they have a better ability to look at what the china lockdowns do to the supply chains and the consumer watch for that on thursday it's like here i go again. >> i'm going back to bed i have to prepare for it mentally i need some sleep before 2:00. are you kind of bullish on what the estimates are? do you find any solace in the fact that the markets while down yesterday, they didn't fall that much the dow was down like 100 points when walmart got absolutely destroyed. >> you draw a great point, sully. what's interesting this week, we have high skperkations today's a fed day, so we always have more volatility look at the vix. we have expectation. we saw a grim outlook for earnings expectations. this month i c

we know the problem with intel and the numbers, qualcomm had a bit of a rocky quarter but semis are onthe move and even though some of them are down, our countdown closer says this is easy. now is the time to embrace the sector. bring in ernesto ramos. is it really time to go in here because $52 billion worth of money is going to flood into this sector? >> actually, we are saying on a name by name basis you want to own some of the semis but not all because some had issues as you saw this morning with intel. our theme here is to go back into tech but make sure it's profitable tech, it's tech at a reasonable valuation and not all tech is performing the way -- as the market goes up and the key here is that because the fed has raised rates, it has made it harder for companies to just go up and with the flood of liquid i did because there's no longer thatly quick i did and the attraction for active managers and now a chance with rational markets to pick stocks and make decisions based on fundamentals as opposed to just everything going up because there's a big flood of liquidity driving eve

>> totally, 100. >> you and i, i say, qualcomm. >> i say youppi!e, i don't have the stones to be short, with the dollar here. guilty. >> karen? >> i will stick with my short- term twitter calls. later, we will do short trades that did not work. we have a full hour.[ laughter ]tunic we could have used him tonight. we have half a minute left. >>> you have a lot to say. >> we have a punchy episode here. >> listen, think carter is calling it, and it comes back toward the uptrend. that would putt iaround 104. >> thank you for watching "fast money". "mad money" with jim cramer starts right now. >>> my mission is simple, to make you money. i'm here to level the playing field for all investors. there is always work in summer. "mad money" starts now. >>> hey, i am jim cramer. welcome to "mad money". i will try to make use of money. my job is not just to entertain you, it is to educate you.

it is pulling back sharply qualcomm, comcast, teladoc all getting slammed. etsy is an exception, it's up 10%. >>> coming up we'll talk to the ceo of marriott who is currently beating with president biden and his advisers discussing the state of the economy in america. >>> check out the solar stocks getting a huge lift today on news that senator manchin has reached a deal on climate funding. we'll talk to the ceo of sunnova. >>> stocks are moving higher as mentioned after wednesday's big rally during the fed news conference, holding strong even after new data showed a second straight quarterly decline in gdp. what does it mean for investors? joining us now is holly newman croft. holly, what are you telling your clients about whether we're in recession right now? >> i'm telling my clients it doesn't matter if we're in a recession today. my clients, like your viewers, sara, don't care if we're technically in a recession or not in a recession what they care about is if they weather this storm and if they can not impact their livelihood, continue to live their li

so if you are talking about trying to find the best chart in what is otherwise a messy group, qualcommer on the list for us than some. i think you are spot on there. >> fair enough. chris, thank you for joining us. let's trade it. tim, i think you are the one that brought up semis last time. >> i seem somewhat obsessed with semis. we are supposed to be. some of the things that chris is talking about is the chart has gone derivative. the ratio of the market to the s&p. if so, on the way up for two, three years, enclosed to 10 years, it outperformed firmed the s&p. simply divide the smh by the spx. and you get a ratio. you get this for a lot of stock to understand relative performance to each other. i think what chris is talking about is first of all that downtrend where semis peaked against the market on december 1st. it is a downtrend that i think yesterday, and this is the fun part about charts, they are exact, but they are not exact. we broke through that downtrend. is that the line in the sand that is adamant? no. i think you have to consider different factors. i think 310, until we

the key this you call thinking glassily, that it ain't that much for lunch, but doc, or grab any qualcomm mall or bernard interval de la melody lester. you will be, can happily ever bad will tell documents, said pam, at the art that the rookery impacted us. i mean, while it does only dumping the handle upon good dol leslie mitchell, aunt lashawn. suppose you too la la donald disability as shown, kiddie phony. this plot you mom, what on board them for gama? give you the eagle in e p in inside of the school, the pool castle study group in aqaba, her leg wilma in on monday. i remember when i was, it is here for this is it is lucky. this is do you see them? good, good, good on papa. from then on unesco began to support state requests for restitution. a few items where we turned in the 19 seventy's and eighty's, but very few to africa. and most were items traded after independence. the struggle to make the restitution of spoils from the colonial era. a major priority would be a long and arduous, one. july on al jazeera campaigning for the kenyan presidency begins in earnest, could a hotly cont

>> check the guggenheim, qualcomm i rally. >> thank you all for watching fast money.with jim cramer starts right now. >>> my mission is simple, to make you money. i'm here to level the playing field for all investors. i promise to help you find it. mad money starts now. >> i am matt kramer. i am just trying to help you make some money. i do not just educate but i teach you. you can also tweet

qualcomm, facebook and ford motor, a complete selloff. how much has been priced in? we are not hearing the best news? they are not stellar earnings. a lot have been below average if you look at historical quarterly earnings. at what point do we just see a market saying, at least it is not the worst case scenario? jonathan: facebook has been an ugly story. bankim chadha joins us now. are we seeing signs in this earnings season of rising corporate risk aversion? bankim: so far, i would not characterize the earnings season as showing widespread or broad-based signs of corporate risk aversion. if you take a wider look if we are going into a recession, what i would argue is we are doing so pretty slowly. i would put it as pretty surely but slowly. as far as earnings are concerned, as of yesterday evening, below average beats. s&p 500 earnings always beat by about 5%. we are running at about half of that right now and that will keep changing. the important thing to keep in mind since we are talking about recessions and we are concerned about declines, this is the first qua

investors will also be watching for any news on the state of supply chains from the likes of amazon, qualcommnd a&e. that is your week ahead. the fed's tightening is like extreme dieting. it is always good to have you with us. as many of us already know, if you starve yourself suddenly, you sort of end up gaining weight later. can you explain to us your logic on what the fed is doing right now? >> very good to be with you and heidi this morning. i would say this is very similar to dieting and a following sense. if you don't follow a good diet over a time and you decide to just crash into a diet program, you are not going to be able to maintain it for too long because of the adverse consequences and secondly, as you said, once you go back to the old track, you're going to see very little change at all from where you were before. what is happening now is the fed having miscalculated inflation for most of 2021 is now saying we are going to raise 75 basis points per meeting and we hope to catch up. you cannot catch up. what will happen is two things. after extremely low interest rates, the fed is

it's going to be companies like the semi-conductors, companies like a qualcomm, nvidia, or the software desk, et cetera. but companies that have growth and growth in cash flow, i think some of the speculative fervor will go away but 3%, the market, generally, the other parts of it will do well cyclicals do well. that's where kind of the market's going to be focussed. >> semi-conductors are usually viewed at cyclical what message do you hear from semi conductors? do you hear samsung, good numbers? or do you hear micron forecast cuts? >> so i would look at it two ways you have semi conductors specialized. i think we had overordering but more in the commoditized semi conductors that's where everybody started ordering when you had the autos, the industrial goods i would look at specialized, higher margin. built-in specific for products that's where i think the demand's still going to be when you have too much inventory build you are going to have pressure >> and are you in qualcomm, sarat? >> we in qualcomm and nvidia i like to specialize higher margin, built specifically for products >> sa

it is going to look like manufacturing companies like tsmc and the likes of intel and qualcomm mightless than stellar quarters but that is not indicative of demand, it is indicative of the customers cutting back orders because they are sitting on inventory. is this really an issue or how much is this a disguise on the fact that they over ordered because of supply chain issues knowing they would have a hard time getting chips? we are going to need that before orders can get placed up again. there's a balancing act that i think most of the semiconductor companies are going to have to navigate while they try to fill orders and help their customers get through the inventory they are sitting on so there orders can come back hoping that demand stays high. emily: thank you for digging into that complex web. always good to have you. coming up, the crypto meltdown sparking more calls for regulation. in particular, bankruptcy regulations. that and more coming up next. this is bloomberg. ♪ emily: time for our crypto reports, bitcoin up over the last few sessions but all eyes on the bankruptcy o

qualcomm bragged down as a result, even more than 3%.will be interesting, ed, i am confused as to why we saw such a big move when you look at alphabet, and meta-. finishing on a sloppy note. ed: thank you, katie. it has been a week. crypto, fdx signing an agreement to purchase a crypto lender for as much as $240 million. a co-founder spoke with bloomberg about the ftx deal and how the companies align. >> there are a lot of ways our products can mesh together in a way that is better than either would be independently. and i also say that they have been working really productively with regulators on building out regulated yield products, which we are excited about. and excited that they have been doing it in a regulated way. that is a healthy way to do attend is going to serve them well in the long term. and it is something we are ok with as well. >> you told politico ftx was looking to bailout or would otherwise be underwater. but are you worried about whether bailing out in industry may not -- bailing out a company may not be good for th

plus, edward jones upgrading qualcomm to buy from hold.ing it an attractive buying opportunity for the chipmaker. that stock up double digits since the start of july, adding 2% this morning. united health shares also rising, beating earnings and revenue forecast the company raising its full-year outlook, up almost 4%. we'll dig deeper into the quarter with the ceo joining us later this hour. >>> banks are a big piece of the puzzle let's get to the earnings from citi and wells and some since before that. >> what a difference a day makes. wells fargo analyst call kicking off a moment ago, with citi. you can see wells fargo up 5.7%. citi up more than 8% this morning. let's tackle that one first. as an evercore isi analyst put it in a note this morning, the firm has a business mix better aligned for the current environment. strength in its u.s. cards business and fixed income helped blunt decline. investment banking and slowdown in wealth management fees from the recent market volatility however, net income did decline 27% thanks, in part, to

qualcomm has a rich evaluation. on the flipside you have the best buy news which you can read a slightly negative so slightly noisy about apple going into tomorrow. >> there is a lot more fast money to come, coming up next. finding the perfect project manager isn't easy. but, at upwork, we found him. he's in adelaide between his daily lunch delivery and an 8:15 call with san francisco. and you can find him, and millions of other talented pros, right now on upwork.com >>> welcome back to fast money. let's close out the trading day with wall street embracing the remarks about potentially slowing the pace about 436 point. they expect 4% but the next guest ones stocks on a collision course with more pain. we have the chief equity strategist. he's the second biggest bear. i don't know how you feel about that title. there it is. you didn't think this was a pivot today? that's how the market interpreted it. >> look. it's the beginning of the end. okay? we learned about this a lot where the market has been stronger than we

we saw qualcomm and samsung both flag a slowdown in demand for mobile handsets going forward.fantastic stuff. really interested on the fx effects, as well. services may be something of a support. matt, arotech analyst with bloomberg intelligence. looking ahead to the apple earnings, looking at the meta picture as well. maybe even a more challenging environment for the owner of facebook and instagram. for more insights, go to your terminal for sharp analysis. that is it for the european market open. checking in on your markets right now as we digest the 75 basis points from the fomc and jay powell's guidance, you are seeing gains of a little under 0.5%. futures pointing lower in the u.s. nasdaq down by 0.6%. the context is initial gains on the nasdaq yesterday of 4%. it is a massive day of earnings. stay with us. this is bloomberg. ♪ >> as it relates to september, i said another unusually large increase could be appropriate, but that is not a decision we are making now. >>

intel, advanced micro and qualcomm, a bit of relief for this sector.ning to chinese stimulus and the idea it's helping kemal it -- commodities, copper up 3.9%. both of these tells on the economy hitting a boost, the idea that if this goes in to the chinese economy it could flow through for natural resources of course you have soybeans up 3.5%. a very broad based rally for stocks and commodity. alix: abigail doolittle, thank you as always. better to ask about this than francisco launch, a global research head of global commodities at bank of america. he joins us virtually. thank you for joining us. i'm dying to ask someone about this trade. it seems like the go to macro hedge, inflation is a no-brainer. a lot of it will be driven by the energy story but how much of this is a momentum trade specifically when you look at open interest in the contract that's been falling and falling. francisco: i think commodities remain one of the best inflation hedges for 60/40 portfolios and those investors those who didn't have a -- suffered in last six months. i think

china kind of hurt products like the mac and ipad business we're hearing from apple and people like qualcommaid demand is about to fall off a cliff goldman laid out the bear case saying, look, if we do hit a recession demand will likely fall off for pricey phones we'll get a test of demand in a different way starting next week, sarah, when the new macbook air, a hot product for apple, starts going on sale. we'll see if they can keep up with that. >> telecom and cloud based companies are more resilient you have been nibbling at tech stocks, is apple one of them >> no. we've been raging bulls from 2014 to about 2021 and we game net sellers. we still own it, but it's expensive. i understand it's a scenario that they are suggesting but i do think if you get a sell-off and we would be stepping in and accumulating more shares it's a great iconic brand and the ecosystem is what you're buying hand set demands can decline and the ecosystem can still grow we would be buyers we're done selling for now >> it's up today it's up 2.5% for the week. take a look at shares of grub hub parent just eat take awa

earnings reports including from meta, qualcomm, t-mobile and boeing. just hearing about the way that tech has performed overnight. nasdaq futures are very strong, up i more than one point -- by more than 1.4%. also dollar strength is an issue for large u.s. corporate that do a lot of business overseas. we are joined by our reporter from bloomberg intelligence from singapore. with more than a quarter of the european market having reported, what is your scorecard look like? >> i have to say it is one of the most unusual earnings seasons if you look broadly at the numbers, that we have seen in ages. on the top line, we are seeing beats for over 60% of companies. about 30% are missing. if you click that and look at earnings, it is almost exactly the opposite. something like 35% that have beat, and more than 50% that have missed. this split between trends is driving revenue growth up on trend, but earnings growth is disappointing. anna: that leads us to conclude there is a problem on cost, and that would not be a great surprise. talk to us about that split,

nvidia and qualcomm moving their wafers back over to taiwan customers don't want to lose their spot atry. it's not all rosie micron spoke about this, kniffin to torrie buildup. if customers already have the chips in store, why would they buy more crypto mining has plunged. that's decreased also in graphics chips and taiwan semiconductors has warned that costs with building factor, are much more than anticipated. overall will demand hold up for them to reiterate their revenue growth for 2022. that's a big question i'll be looking at tomorrow, 2:00 a.m. eastern. >> are you going you want to up watching at 2:00 a.m.? >> if our bosses are watching, yes. if it's just you and me, no. >> first, i think kristina will go far in this business. i think taiwan is the michelangelo of chip business. there's no one better. sap sung is a close second, but even they could do that. while business will certainly slow, i like this company a lot better than the cyclically impaired jpmorgan and morsgan stanley. while you may not neat a more, you are going to knee a semiconductor that only they can make so i

and a lot of this is out of sync with the commentary that we've heard from marvell, from qualcomm, sharing in the cloud >> as john says, the broadbased weakness in semis, but the researches in the amax >> they are looking for the long term and switched to what he called high value solutions, some of those sectors that will see growth in the years ahead. also focusing on how quickly they can pivot he said he's never seen the supply and demand picture turn so quickly in thinste dury will netflix demands go up piper seems to think so. those shares are up marginally stay with us >>> let's get a gut check on netflix. reiterating neutral on the streaming giant calling it a business it they call it the season's debut short-term relief. but a subscriber growth slows in a crowded streaming market sandler says their ad-supported platform looks promising but shares started lower but are up one-third of a percent down 70% year to date which puts it in perspective. we'll be right back. (heartbeats) introducing icy hot pro. ice works fast... to freeze your pain and your doubt. heat makes it last. so you

>> check the guggenheim, qualcomm i rally. >> thank you all for watching fast money. mad money with jim cramer starts right now. >>> my mission is simple, to make you money. i'm here to level the playing field for all investors. i promise to help you find it. mad money starts now. >> i am matt kramer. i am just trying to help you make some money. i do not just educate but i teach you. you can also tweet me at jim cramer. you see inflation, perspective earning shortfalls, the s&p is surging 2.76 and the nasdaq was at 3.11%. do you think the buyers have not heard the bad news? you think they are in the dark about inflation or the war in ukraine or rate hikes? i think anyone paying attention got used to those stories of months ago. this number we would have considered awful six months ago. every time i come out with a little wee bit -- i find myself roundly criticized for ignoring that the kids that will cause the economy to crash any day now. the federal reserve waited too long to tighten and now inflation is unstoppable. we're told the president is too weak to stop chi

if you're supplied to android through qualcomm, you're going to need some luck here so the low, mid areat, that is been horrible the high end, apple, that is not benefiting sears i'm not worried over the near term i'm worried on the long term aspect the main content uplift is probably unlikely to materialize for this name before 2024 meaning this stock could see a lot of volatility in the near term in something -- until something happens so i would take profits here. >> final name, let's talk about sky works solutions. this is closely linked to apple over the years. >> oh, 100%. like cirrus, it is about apple they get about 60% of the revenue from apple so much like cirrus, i don't think the next few months are a problem for these names especially as the second and third quarter, apple does procuring of the components for the iphone so this is not the time i would be selling this name the time i would sell this name is in the period of november when we really start to get our next batch of new information from suppliers we know that it is easy procure and build iphones. the difficult and

. >> gordon hasket says it's the deal could come back tonight, ford, qualcomm, meta.alf". >>> welcome to the "half time report." the fed decision just two hours away now and meta's mega earnings report looming over ip time we'll get you set with both of the market movers. joining me, degus, steve and liz young, joe let's check the markets and see where the trade is ahead of those big events green across the board i guess microsoft and alphabet somewhat saved the day the dow up 156

being the place to be and the technology companies that we talk about are value stocks in terms of qualcomm it's at 11, 12 times earnings, cisco. we think you can buy those companies, focus on value, but now is not the time to be defensive from our perspective you had a bear market. many stocks are down 20% to 40%. so we're buying some really good growth companies but value prices and we think that will be in the sweet spot of making money in the upcoming period >> thank you both. we very much appreciate it >>> coming up shares of royal caribbean climbing after the cruise line reported a smaller than expected loss we have the ceo on whether guests are returning and how they're managing the debt load and we're awaiting secretary yellen's remarks we'll bring it to you live when it happens a look at the market the dow is up 300 points that's a session high. lagging up about two-thirds of a percent and the ten-year yield is 2676. ♪ ♪ it's electric... made extraordinary. ingenuity... in motion. it listens, learns, adapts and anticipates your every need. with intelligence... that feels anything b

you have qualcomm among the u.s. traded stocks catching a bit on the back of the forecast from samsung all up 5% to 9% on these. on semiconductor the best in the s&p. part of the tech-heavy trade the three most important in the nasdaq and s&p are apple, microsoft and alphabet on a year-to-date basis. the course of the last month or so the rebound we've seen has been significant for apple, kelly, up 13% from the lows we've seen over the course of the last couple of weeks. from microsoft up 11% off the lows and up 15% for alphabet, the parent company of google as people talk about dip buying, they are starting to see some signs that have in the mega cap tech names back over to you dom, thank you very much with stocks aiming for their first four-day winning streak since late march, is this the relief rally investors have been waiting for? michael santoli has more hi, mike >>> i think relief is leading to some resilience and i would date it back to the week before last. i don't think it's just a four-day story we're up a

alphabet is up 10%, qualcomm micron after that disappointing earnings results last week up more than else is selling off today upstart. remember that company, the lending company that does ai it's down about 18.8%, warning q2 revenue will come in much lower than expected. that's leading to a slew of harsh commentary from the analysts citigroup writing it had overestimated its assumptions for upstart's loan assumptions and it lost the forest through the trees. piper is saying the company faces a perfect storm of headwinds. stephens saying upstart originating loans on its balance sheet that it can't pass on to its funding partners breaks the thesis that it had for that company. and the stock is now down about 80% in 2022. mike, this is one of the poster children for the high-flying technology-focused stocks that had stories during the post-covid period of ample liquidity. >> and the story in this case was that they had sort of hacked the credit underwriting process. so they had an ai-powered solution that was going to give them an advantage in selecting more credit worthy borrowers tha

>> today the highlights i would be watching include meta, t-mobile, qualcomm, boston scientific and kraftd also keep an eye on two stocks at the open today. microsoft and alphabet. microsoft in afterhours trade yesterday saw its shares rise almost 4%. the company issued up beat revenue outlook for the year. revenue and earnings did miss for the fourth quarter. but that was because of a strong dollar. and also they reported that microsoft's cloud unit, which includes azure, saw revenue rise about 20%. pretty up beat there. alphabet missed on both the top and bottom lines but investors seem to take comfort in the strong performance from google search. shares in alphabet also rose after hours. >> so i don't think you can play from over there in the uk, but your family back here in massachusetts will want to hear about this, just the third time ever the mega millions jackpot crossed the $1 billion threshold. the grand prize in friday night's drawing will be an estimated $1.02 billion after no one won last night's drawing. that number is also certain to grow as more tickets are being purchased