steve grasso, let me start with you. it seems like the opportunity for a fed cut waivers with every single number. >> yeah. so at the end of may, the odds of a fed cut went from basically 52% to 78%. and now they dropped from 70% or thereabouts to -- from the last couple of weeks -- to 50%. so that just tells us that every data point will be overanalyzed. but it s the nemployment data that is the most worrisome for the fed and the establishment and the biden administration. so it is great that the economy seems to be humming along quite nicely but we are a long way from kansas. i still think they are going to cut and i think there will be a few cuts and they will probably start in september. >> so to steve's point, which is the more important number here? is at the unemployment rate which is a sign of a slowing economy or is it the 270,000+ jobs which was more than expected? and you have also got average hourly wages going up. >> exactly. right. so jess maurer murkiness in there. so i think that they all -- like you said

joining us now is steve grasso. it's been a while, steve. how are you? been a while, that's true. it's been a minute, maybe it's been a couple of minutes for us. hope you're doing well. >> every time i look away -- what do you make of the fact that nvidia -- is this a one-week position for you? you make a quick 4% and get out or what? >> i never feel comfortable trading. that's the -- really the plight of a trader. so i knew that i was late, and i actually said as much when i bought it, when i tweeted it out. i'm always going to use the word "tweet" versus x. >> same. >> so i expected you get a little retrace lower on nvidia, i think it might be a little overdone. i actually thought the stock split was sort of a short-term top in it. but everyone is tripping over themselves to upgrade their price target. i think we have a street height of $200 now. so let me stay here a little bit, see if i can get a couple percent out of this percentage. i will add on strength. >> there's so many different ways to analyze this. you can just absolutely go to the top, sti

atop the current leaderboard, steve grasso. his wage acronym is up more than 30% year-to-date. ext and then guy adami. steve, let's start with your wage acronym. every component up double digits, but the big winner is the grace scale ethereum trust, surging more than 60%. what about your others? >> yeah, and it's not even on the highs, actually. it's pushed back. last year was up 250%. i think it is going to be -- i think it is going to be a winner going into the back half of the year. wrk, westrock, they had a merger. they're a paper company. ip had a buyout that was terminated, so i think you're probably going to see a little more of a bullish slant and less rock going forward. these are possibly a good entry point there. google, i thought this was going to be their year for a.i. it turns out that it is. and amgen, i thought they were going to be competitive in the weight loss space. they're not as competitive as i thought they'd be, so i wouldn't be a buyer there. the other three, i'd be a buyer. >> the other three you're happy with. karen, you're in third with the helm acron

karen finerman is with us, along with steve grasso, guy adami, and julie biel. >> thank you for beinge. >> great to be with you. you know -- >> short straw again, for you. >> i love it. i love being with you. we start with the late-day rebound in nvidia. managing to close a quarter of a percent higher. shares were down nearly 3% at their lows, even after ceo jensen huang delivered an upbeat outlook to investors. on the competitive environment, he suggested that while competing chips might have a lower price tag, nvidia still offers the best performance and cost to run. he touched on the growing number of industries relying on a.i. processors from pharma to telecommunications and autos. ultimately expecting the recently launched blackwell gpu to be the most successful one in the company's history. while nvidia did eek out a gain, other semi names were feeling the pain. qualcomm, amd, applied materials, and taiwan semi, just some of the chip makers in the red. so, what should we make of the choppy trading in chips? let me turn to you, guy. >> it is great having you, tyler. >> great to b

i'm melissa lee at the nasdaq, on the desk tonight,time seymour, courtney garcia, steve grasso, and guy adami. and two big tech moves, apple jumping 8% since is wwdc kickoff on monday, hit ago brand now records, and briefly reclaiming the spot as the biggest company in the world. meantime, netflix putting in its own winning week, closing within 5% of its record high hit way back in november 2021. what do these two moves tell us about the markets we have right now? should you be in these trades? time seymour, what do you say? >> i think you should. and i think that the apple trade is one that looks like a trade now. hey, why weren't we assuming apple was going to break out two weeks ago, nothing at wwdc, we'll get into that. the importance of apple to the market, the fact is, the nasdaq has set new relative highs to the s&p, all-time highs, that leadership in the form of both apple and nvidia, i think, is something that can continue. i think that, you know, the netflix dynamic here is also a case where you've got clear leaders that even through the other part of the week that is notable,

steve grasso. >> more data centers. you know what we need? micron. >> karen?. i owned it for a while. citibank. today, this was just overdone to the downside. still like it. >> dan? >> we have time. >> yeah, we do. remember that internet bubble 25 years ago, two of the names that sat out this whole -- it is pretty close to what is going on here today, cisco and intel. they can't get out of their own way. i think they join the party. >> you like them? >> hold on. >> guy? >> david's favorite, i don't care if anybody gets mad, palo ghto networks turning back hier. >> thanks for watching >> my mission is simple, to make you money. i'm here to level the playing field for all investors. there is always a premarket and i'm helping you find it. mad money starts now. >> hey i'm cramer, welcome to mad money. i'm trying to make you a little money. my job is not just to entertain but to teach you and entertain. i've been searching for words which

on the desk tonight -- tim seymour, karen finerman, steve grasso, and guy adami. >>> shares of nvidiaging nearly 4% early in the session, setting a new intraday record, and furthering its lead as the biggest company in the world, but then, the stock pulled back on the day, closed down 3.5%, shedding nearly $120 billion in market cap. that drop pushed it back to number two on the leaderboard. it wasn't exactly the only recent rally name to come under pressure today. oracle opened at a record, then fell over a percent, broadcom tuchbing its all-time high tuesday. netflix was at levels not seen since november 2021, both down today, too, and outside of tech, chipotle breaking its six-day winning streak, posting its biggest loss since last july. so, has the rally hit a wall or is it just taking a brief breather? i don't know, we -- we called it a pull-back in nvidia, but some might say this was a reversal. >> oh, look -- you found yourself -- >> outside reversal, guy? >> right in my head, didn't you? >> broadcom, it was the same pattern on tuesday. heavy, heavy volume, touching a new high

on the desk tonight -- tim seymour, karen finerman, \ bonawyn eison, and steve grasso. >>> the s&p has set a record 31 times. that is better than 26% of the time, not bad. but even with those gains, we start with the latest reminder that it's nvidia's world and we're all just living in it. the semi giant jumping 3.5% today, closing at its own all-time high. the stock up 42% since its earnings report less than a month ago. for those not keeping track that's a gain of nearly a trillion dollars in market cap. bigger than all but six members of the s&p 500. one more milestone here. the a.i. darling now the most valuable company in the world, stealing the title away from microsoft today, trailing apple, not far behind. so, is there any stopping this stock? it seems almost folly to try and think of when nvidia is going to stumble, day after day when we see these records being posted. >> i think so. and i think that earnings result, which is now about a month ago, gave you kind of the relief to buy signal. and it gave you the buy signal in terms of the broadening and deeper look into the prod

not steve grasso's game. america's favorite game.res up 63% this year. >> steve. >> mole. i would trade this one. can't be factors in. you need for ai, you need d-ram and d-ram is over 70% of their revenues. i think we're just at the beginning stages of this story. people didn't come around to knowing that micron was even an ai name. now they are. i think you can't be over yet. trade it. >> i'm going to fade it. i get it, and the question is, often, is what's the multiple you want to pay for this stock. if you read the analysts, it's near term conditions, but it's also a combination of they think eps is going higher and that actually you're getting 20 bucks of eps by next year. if you put a ten times multiple on it you can get to a big number. i'm not sure you're supposed to do that. once commoditized, why doesn't the same stuff become somewhat commoditized. i don't want to put that multiple on it. >> karen what do you think? >> first of all i have a problem with the definition of the game. trade it means sell it. >> get rid of it. >