seema mody with that.nness of the move today is impressive. >> yes. >> if you say as a sector tech is up 3%, industrials a little more than 2%, health care a little more than 2%, discretionary about 2%, com services a little more than 2%, energy about 2%. >> yeah. >> it is really spread even. >> yeah, and breadth has been four to one for the popssitive the nasdaq and a little less than that. it seemed like choep bppy but n alarming. now, again, we have a lot to prove with this to say it is more than just a bounce at this point. you are still 6% down from the highs on the s&p 500, a little more than that. semis, again, i mentioned midday up almost 7% today. so we'll see if that building into anything or if that's just a switch high. >> every economic read will take on greater significance here on out. full market here. we are going green obviously across the board. the dow will be close to highs. we're 700 points higher. s&p 500 is going to go out with a gain of 2.5%, but we're strong across the board. see

back to seema modi for the stocks she's watching.us what you see. >> scott, h&r block is higher today after reporting fourth quarter results that issued a 2025 forecast that points to another year of revenue growth. tax services provider also raised its defensive send. looking at shares up over 11%. and jd.com doubling its second quarter profit. earning soared 74% year over year. price cuts and beijing's recent push to get citizens to trade in old home appliances for new ones seems to be paying off. >> seema modi, thanks. >>> still ahead, pharma giant still ahead after the trial setback. we'll break that down after this. ameritrade is now part of schwab. bringing you an elevated experience, tailor-made for trader minds. ♪♪ go deeper with thinkorswim: our award-wining trading platforms ♪♪ unlock support from the schwab trade desk— our team of passionate traders who live and breathe trading. ♪♪ and sharpen your skills with an immersive online education crafted just for traders. ♪♪ all so you can trade brilliantly. ♪♪ >>> up next, big w

thank you. >> to seema mody and what to expect in overtime. >> even though it's not a favored ai play to invest in artificial intelience and data centers. morgan stanley expects demand to remain muted and the questions of acquisition of splunk to get some attention as well as efforts to streamline costs and rumors of additional job cuts with loss of market share from juniper networks and arista, shares of sisco have underperformed down 10% versus the s&p tech sectors and a 23% rise and don't miss an exclusive interview with ceo chuck robbins on squawk on the street tomorrow. now we await the numbers, scott. >> we do. we look forward to those and the interview, seema, thanks so much. we turn it back to mike santoli. now it's about the economy, retail and jobless claims and walmart. >> retail sales, of course, is very important, but i think it is very much internalized among investors that july was pretty soft on the consumer side so to me it's pretty tough for that to surprise in a meaningful way to the down side that has a market impact and what walmart says about the economy if it's

for cnbc business news, i'm seema modi. >>> more m&a is in the market according to kepler.his is a week after kellanova announced they are set to acquire pringles maker for $36 billion. it is 16 times ebitda. we have john cox here with us at kepler to help us unpack some of the moves we are seeing in the sector. john, on the mars-kellanova deal, why is now the right time? >> i think there's a variety of things going on, particularly in that north america market. you had very fast growth in the snacks end of the market over the last five years. close to 10% annually. first on the back of covid, people are at home eating snacks and recently with the high food prices food companies have put through. recently, things have come to another a standing-stop if it were. there are two issues. one is transitory. all of the food companies in north america are trying to reboot a volume mix after a few years where they just relied on price to drive top-line growth. i think that is transitory. i think things will slowly improve there. secondary, there is a massive transition going on in t

seema mody. mike, back to you. as seema brings this news, we have news regarding apple today and openai we'll get into in a moment as well. just underscores why there's so much activity in these names, and didn't appear it's willing to dissipate anytime soon. do you feel like you have a tough time making the case that it's time to rotate? >> yeah. a little bit. you know, large cap, mega cap tech sucked the air out of the room, the flows out of the market for small and mid caps. today's a great example of nvidia stock price. a.i. is real. it's coming. no question about it, ultimately growth will start to slow and th they'll be a lot of other winners for a.i. in the small cap space just like we xausaw w the initial internet boom. we believe small caps are great, a great area to buy the early disrupters and innovators. on the other point with dell looking to sell their business. m & a has been increasincreasin. historically when m & a picks, small cap driver for out performance. kansas city, this week as well. m & a pi

tencent music tanking 10%. >>> seema mody. thank you.oing to drill down what's behind the slide. back on the "bell" after this break. ameritrade is now part of schwab. bringing you an elevated experience, tailor-made for trader minds. ♪♪ go deeper with thinkorswim: our award-wining trading platforms ♪♪ unlock support from the schwab trade desk— our team of passionate traders who live and breathe trading. ♪♪ and sharpen your skills with an immersive online education crafted just for traders. ♪♪ all so you can trade brilliantly. ♪♪ >>> got some earnings to set you up for in "overtime" tonight. flutter entertainment. we run you through the key metrics you need to watch out for in the market zone. we'll do that next. growing your business is easy once you know the moves. with godaddy websites plus marketing, you can quickly create a website, and ai will customize it for you. get your business out there and get more customers in here. no sweat... for you anyway. create a beautiful website in minutes with godaddy. -unnecessary action hero ...

i'm ingog to join seema mody for "power lunch" on the other side "power lunch" on the other side of thisdi technologies. where innovative, eco friendly design meets exceptional performance. our diverse portfolio includes utvs, go carts, golf carts and e-bikes. explore electric investment opportunities. kandi technologies. >>> welcome to "power lunch," everybody. alongside seema mody good to have you with us, i'm tyler mathisen wall street breathing a sigh of relief today as the consumer continues to prop up the u.s. economy, consumer spending jumping in july. retail sales up a full percent walmart's results also not as bad as feared, not at all. and that seems to be giving hope for a soft landing scenario. >>> plus, the ce

seema mody. interesting commentary about trading down to lower price points.g it, you know, not just in chips and soda, but also in airlines and hotels. >> it's good for expedia, but how do you trade it? maybe it is airbnb, which traded down to the november low, was a lousy quarter and the stock acted in kind. but if you look at the average price target now, which all got slashed, it's about $140, so, for a trade given this level, i think airbnb is pretty interesting right here. >> off the back of airbnb, they said slowing demand. expedia beat and has softer demand. marriott vacation worldwide is down the same amount as airbnb year to date. to me, it just tells the story of a consumer not only trading down, but that's the next step, and what's the next step? not taking a vacation. so, i think this is all challenge. you have to sit back and wait to see if we do avoid the recession, wait to see what people do. this is a leading indicator. >> yeah, and, you know, throw the airlines in there, what they had to say about this. and you guess you could take it a step

seema mody has some details from the call. >> hey, tyler.iterating that blackwell will ship in the fourth quarter. he's stepping back and saying that nvidia's driving the cost down of training large language models with more high performing, cutting edge chips. he says next gen a.i. models will take 10, 20 times more compute. as to the role hyperscalers are playing in driving nvidia's service, the cfo said it was 45% of data center revenue, and the inventory crunch is easing for hopper. cfo says demand is strong and that shipments are expected to increase in the second half of fiscal 2025. that, tyler, is an encouraging sign. is it helping the stock? shares are still down here in afterhours. >> all right, dan, thoughts? >> um -- yeah, i mean, not too different than 45 minutes ago. >> okay. >> i just feel like -- >> nothing's really changed. >> if you're long, you're not selling on this, and if you want to buy it, you are probably going to wait to lower levels. there's no big problems here, but again, it's just the magnitude of the beats and

shares are lower by almost 3%, despite reporting a beat on the top and bottom lines seema mody has theils >> the stock falling a bit more here in afterhours fourth quarter numbers came in lighter than estimates however, the ceo on the call said discussions with leading a.i. companies, reducing power for operation, is becoming increasingly more important. that's where he thinks applied materials can play a role. and that the need for more energy efficient compute is driving major architecture upgrades he adds that seeing growing demand for high bandwidth memory, accelerating in 2024, expects to generate more than $600 million of high bandwidth revenue. on china, executives remain cautious exposure to china is around 32%. expects d-ram demand in the fourth quarter to be at nominal levels remember, the biden administration is reportedly discussing whether to further limit china's access to memory chips on intel's capex cuts. applied materials doesn't see any impact, though analysts have been arguing that may be more of a 2025 story. melissa? >> seema, thank you. seema mody so, why do you

seema mody has the story. >> zero dollars. the ultimate goal was to get high-end chips manufacturing to the u.s. two years in, no money has been distributed to recipient. a senior administration official says the commerce department is working dill sweptly to get funds allocated this year. intel that is five plants in development. the cfo telling me in early august despite the cost-cutting efforts, there are no changes for the foundry plans. wolfe analysts are unsure if investors will remain patient when intel's manufacturing is expected to turn profitable. they're proposing a joint venture with taiwan semi. intel does intend to produce the wafer the first half of 2025, thoughts it is said that delays are likely in the grant doesn't come through form in february, microsoft's ceo nadella did say that microsoft has chosen a chip design it plans to produce, so a good sign there. we have seen shares of intel underperform this year. >> what is taking so long and why? >> a shortage of talent. >> talent to do what? design or build? >

i'm carl quintanilla with seema mody at post nine of the new york stock exchange.back. what that means for september fed. we'll discuss. >> then the most active activists. a look at the rising number of campaigns eliot management is undertaking, including in names like southwest airlines, starbucks, and texas instruments. >> the ceo of barrett golds with us as the commodity comes off another all-time. >> right now, marks losing steam, with the dow currently turning negative after that payroll revision. we're looking at the dow currently down about

i'm wilfred frost with seema mody. the race of rate cuts as powell says the time has come for looser monetary policy. citi's global head of macro is here. >>> former u.s. trade representative, president of cfr michael

i'm seema mody alongside mike santelli at the new york stock exchange.on the move, the ten-year, and how he's thinking about the path for rate cuts. >> then the nikkei rebounds again. portfolio manager has more on how he's taking advantage of the recent volatility. >> plus, robinhood's 24-hour trading participate on the counted outage for overnight trading of equities on the platform. >> right now, markets with some

alongside seema modi, i'm jon fortt.igher across the board after the best week of the year. they're continuing the comeback from the big losses a couple weeks ago, and for the dow and s&p 500 both indices are a little more than 1% away from their record highs. >> incredible comeback, leading the dow right now at this hour is mcdonald's following a bullish note

seema mody on the must-see report, which is nvidia.ld we take this day into context of where we go from here? >> i'm very interested to see whether it's a ripple just for nvidia or if, in fact, it's somehow a clearing event for the psychology around the growth stock trade, which has really lagged. it has been an unusually defensive rebound from a correction. we sit here at 5600 exactly, almost, on the s&p 500. that is the post we've been leashed to for almost two weeks. it's been relatively cautious, berkshire hathaway, jpmorgan and big pharma holding up the s&p today. so i do think it's a test of nerves for the long-term story whether they can start to address the idea that they're hogging, like, a ridiculously huge percentage of this massive capex, or if it's just steady as she goes. pencil in fiscal 2026. that, we'll see. i do think the market has been a little edgy and uneasy, and maybe a little bit too fickle day to day, even within this range. i'm not sure if we have to sort of test some levels lower on the indexes before we know

seema mody has all the details. >> melissa, green shoouts are starting to emerge.constraints are receding. steady growth of 14%, and that enterprise customers are upgrading their infrastructure in preparation for a.i. that's prompting cisco to do the same. cisco crossed a billion dollars in a.i. orders with web scale customers to date. three of the four top hyperscalers leverage cisco. he expects an additional $1 billion of a.i. product orderers in 2025. even though it was a good quarter, cisco did announce a 7% reduction to its global work force, over 6,000 jobs. cisco cut 4,000 jobs in fe february. analysts pushed robins on why cut jobs now? robins said the company really needs to shift resources to the most important areas that are growing, like a.i. and cloud. and it does follow news of intel cutting more than 15,000 jobs. cisco shares have underperformed big tech so far this year. ceo chuck robbins joins "squawk on the street" tomorrow morning. mel? >> seema, thank you. cisco is relatively undervalued compared to the s&p 500. >> i think it's been defensive fro

seema mody has been tuning in.e'll peel her away for details on dell. >> brian, dell's third quarter guide slightly light of expectations, so, perhaps that's why the stock is off the highs. while the clear standout in the second quarter, a.i. servers and n networking. personal computer sales continue to remain sluggish. dell is betting on a.i. servers for its future. executives say they continue to see an increase in enterprise customers buying a.i. solutions first quarter, and that enterprise remains a significant opportunity, as many are still in the early stages of a.i. adoption. and server margins were up in the quarter. you may recall dell competitor supermicro saw weaker than expected margins in the same quarter. stock has been gaining momentum as of late. dell up about 4%, but again, off the hikes we saw since reporting earnings, brian. >> all right, seema, thank you. carter, i know you look at the charts, as well, but from valuations, trading at 21, 22 times forward earnings, that's about 50% higher of its

alongside seema modi, i'm jon fortt.cks are starting higher across the board after the best week of the year. they're continuing the comeback from the big losses a couple weeks ago, and for the dow and s&p 500 both indices are a little more than 1% away from their record highs. >> incredible comeback, leading the dow right now at this hour is mcdonald's following a bullish note from evercore. more on that, and health care names standing out, united health care contributing to the gains. only a handful of dow stocks are lower, but they include amazon, microsoft, and apple. we'll get into the bearish note on apple weighing on the stock now. >> we begin not with a bearish note but chips and shares of amd up more than 3% on news it is acquiring privately held server maker zt systems for $4.9 billion. and he plans to pay 75% of that in cash, remaining 25% in stock. zt systems designs and builds ai servers and could help amd test and roll out its latest ai chips more quickly for large cloud customers. my next guest is skeptica

at first people seemed to like it, now the stock is down and seema mody, they are doing a 10 for 1 spliting in and out of the call here. can you give us more color on smci? >> brian, the stock is reversing course, super micro's ceo says it's fourth quarter operating margin of 7.8% is lower than what he had expected due to the higher mix of hyper scale data center business, costs tied to its liquid cooling equipment. the ceo also mentioned shipments constrained due to supply chain bottlenecks. super micro is still increasing its full year guidance which came in well above consensus. it issued the 10 for 1 stock split. hopes that super micro which competes with dell and hewlett-packard would play a bigger role in packaging nvidia's chips. while the stock did get caught up in the most recent selloff shares are up 94% in year. goldman sachs is neutral citing risks including competition from dell and hpe both have been growing their share in the ai supermarket, brian. >> one that's going to get a lot of attention tonight and tomorrow. thank you very much. dan, falls exactly into what you were

alongside seema mody good to have you with us, i'm tyler mathisen wall street breathing a sigh of relief today as the consumer continues to prop up the u.s. economy, consumer spending jumping in july. retail sales up a full percent walmart's results also not as bad as feared, not at all. and that seems to be giving hope for a soft landing scenario. >>> plus, the ceo of starbucks talked about work-life balance and spending time with family after 6:00 p.m now he's a former ceo. in 2024, can you really unplug from work, especially at the highest levels of big corporations we'll discuss. >>> first, a check on markets as stocks are rallying across the board. the dow jones industrial near the highs of the day, above 40,000 the nasdaq higher over 2%, tesla and amazon are the standouts and despite some recent turmoil, the dow and s&p 500 are only 2% away from their all-time highs >> we begin today with the strength of the consumer as evidenced by those retail sales and walmart's earnings numbers we have the details on walmart melissa? >> walmart and other shares of retailers including target, be

seema mody. >> raising the price target, writing while blackwell shipments are pushed out by two monthshas an impact on the overall 2024/2025. and b of a with a raise advising investors to ignore the quarterly knows. and wells fargo saying it's hard to find negatives in the results. the average price target for nvidia is 3.8%. barkley's tom o'malley is sticking with the whole rating and he think it's a change in narrative than what he says is guidance. when nvidia's cfo answered the questions on the earnings call on gross margins likely going into the 70s due to expenses tied to blackwell, that's when we saw the stock take a lower dip in the after-hours trade, and now shares are down about 3% right now. >> great rundown. i wonder what was the most takeaway from the call? there was the enterprise piece of it. also the demand they are looking from the hopper chips and then looking forward to blackwell, how do you parse all that? >> given the stock is up 160%, and everybody was expecting a clean report. on the call, investors wanted more granularity, and how many billions, exactly? that le

here to break down the number is cnbc's global markets reporter, seema modi. >> good morning. >> tellconomic da data now will be scrutinized because it's coming up against the federal reserve meeting coming up in september. the number you just highlighted, 3%. that's higher than the 2.8% estimate and it's higher than what we saw in the first quarter. that's good news. it suggests that even though inflation is cooling, and that the jobs market is a bit soft, that economic growth is remaining strong. it seems like government spending on infrastructure, that's a big reason why we saw gdp come in higher than expectations. it comes in about one week ahead of the jobs number next friday where we are expecting that to show a continued slowdown in the jobs market. we have been waiting for that piece of economic data. >> seema, the a.i. chipmaker, nvidia, their stock is down this morning after reporting their latest earnings yesterday, but those earnings exceeded wall street's expectations. can you explain what's going on here? >> yeah, absolutely. nvidia makes the most cutting edge chips that

seema mody joins us with more on what investors need to know going into the print. >> nvidia chips havembitions with meta, alphabet, google planning to shell out billions of dollars. when jensen huang speaks tonight investors will want to know what he's hearing from the hyper scalers on the spend and what that means for nvidia's bottom line. and the blackwell delay whether issues with the main supplier, taiwan semi are starting to ease. competition is riding, amd is ma making inroads and groq and cerebras with plans to go public this fall, the ceo telling me his chip and cheaper and faster. competition in gaming could drive nvidia stock lower if it shows it's losing market share. amd posted a 59% year over year drop in second quarter gaming sales, overall the weakest division. cnbc analyzed the performance of nvidia following the past six earnings report and found the average one week return is 11.6%. today may be about nvidia but we are keeping an eye on super micro after saying the 10k report will be delayed. shares down 20%. >>> let's talk about what's at stake for the markets as we

. (♪♪) with seema mody. we're live from the floor of the new york stock exchange.the back of fresh inflation data. the dow coming off 25th record close of the year. how far can stocks bounce from the early august lows? >> and then building the next nvidia rival. the former president of softbank on how he's thinking of alternative a.i. names. >>> two tech names helping to lead the nasdaq