move works counts linkedin, cement text, broadcom and western digital lend more as part of its user base. joining us to discuss, move works ceo and cofounder robin mamoud. perkins partner describe the company and what you want to use the funding for. >> thanks for having us. great to be here. move works uses natural language to understand tickets submitted by employees of large companies. right now we are resolving 35% of all tickets that come into those companies you just mentioned, broadcom, western digital, align technologies, etc. the three of us are knowledge workers, and knowledge workers all over the planet are submitting about one ticket a month to their i.t. teams. those tickets involve things like, can i get access to a new application, can you add me to this distribution list, can you remove me from this troubleshooting list? we take the language in those emails, understand it, interpreted and does the entire job of resolving it end to end. industrywide today the average time to resolve those tickets is three days. we are bringing that down to three seconds. >> there are thous

but broadcom still up 2%. the 10 year yield, 1.79%. guy: let's take a look at where we are here in europe. we are trading toward session lows when it comes to stocks. also a selloff when it comes to the oil market. the stocks now down -- the stoxx now down 0.3%. in italy, bonds have been out in front of the story. they certainly been taking a much more cautious approach when it comes to the trade narrative and the global economy over the last few sessions. equity markets have continued to push ever higher. let's get some analysis on where we are right now. lombard chief ts economist, joining us now. i want to start with your view of the u.s. consumer. we seen two big retailers out today, missing. the stocks have been pummeled. are you worried about the u.s. consumer? charles: not really, to be quite honest. guy: why not? charles: i think real income is going up at a reasonable rate. the savings rate is not going to suddenly thaw, and therefore the consumer plunge, until the stock market sells off big time, which hasn't happened. as we

morgan stanley chipper on broadcom. the bank raised the chipmaker to overweight and increased its price target to $367 a share. we're at 319 right now. morgan says that broadcom will be able to build on its semi leadership while tersefying into software. broadcom jumping 2.5%. >>> black friday is just over a week away, but can we really call it black friday? i mean, deals starting not just a night earlier, but now weeks earlier. over the next few days, some one dozen retailers will report quarterly earnings. they include urban outfitters, target, lowe's, l brands, macy's, gap, nordstrom and, of course, foot locker. kohl's e and home depot, as we mentioned, disappointed. however, one retailer so far that has reported is bucking the downward trend. tj maxx, ticker symbol tjx. hitting a record high after beating on earnings and raising full-year profit forecasts. but what should we glean from the fact that it is a discount retailer that had such a strong report? is this maybe a canary in the coal mine type of signal that t

broadcom is up 2%.

since then broadcom is up about 26ish% over that time period qualcomm, more like 45 so there you go. >> interesting to see more of the interview as the hour unfolds. >>> returning to a story broken by cnbc late yesterday, alphabet board investigating executives over inappropriate relationships, the reporter behind the scoop, jennifer elias joins us at post nine. welcome to "squawk alley." >> thanks for having me. >> tell us what exactly is being investigated and why >> so what's being investigated is handling of sexual harassment cases by executives. now, it could be broader than that, but that's at least part of what we know for now, and why. that's a great question we're trying to figure out i mean, there wasa class actio lawsuit earlier this year that went into -- shareholders had against the board, now that the board is hiring a subcommittee and law firm to investigate with executives, it is not clear what the motive of that is. >> do they have -- does alphabet have some specific protocol in place in terms of interoffice relationships and what that looks like i know different com

broadc broadcom's number one there. it's paying a 3.5% dividend yield. we think it's a great buy rate here >> you don't think this looks pricey >> i think there's 20% upside from here. i think this is undervalued compared to the rest of the semis. i don't think the fact that they are shifting towards more software-based revenues, i don't think that's being fully appreciated in the stock right now. >> broadening out to other chip stocks, do you think that now's the time to be getting into some of them? >> i do. especially if they start to make more progress on the trade deal. they're definitely under pressure given all of the trade issues we've had over the course of the last year so as these pressures are alleviated, i think semis are a great spot to be >> all right we'll keep an eye on it. last chance trade, broadcom. >>> this is the last commercial we're going to take before the close. we'll dive into the day's most important stories when we take you inside the market zone >> and after the bell, we'll head to the white house north lawn where we'll wrap

we have been adding to broadcom, vo, addingoking at qor to financials, morgan stanley, jpmorgan. in the consumer space -- i would put apple in that space -- we have been net sellers. onhave been chairman back starbucks, mcdonald's, now apple. .hat tends to be our strategy as value investors, we are in early, out early. jon: carl, let me bring you back into the conversation. when it comes to the health of the u.s. consumer, which at the end of the day, they will have to do a lot of heavy lifting for the u.s. economy, what do you have to keep in mind, especially after the jobs report we saw today? story thatis the tends to run contrary to today's jobs report. while the report was viewed as an upside surprise, when we start to tease out the household income trend from the job report, it is not particularly encouraging. yesterday, wage and salary income growth in the u.s., flat in september. when we tease out what will happen in october based on what we saw today, it looks like a very modest increase. when i look at the growth rate in household paychecks, it is running at the slowest

broadcom gradedweo equal ht at morgan stanley citing increasing confidence in the ftware strategy. the price target now $367. the stock rose 2% t 317.70. >>> still ahead, healthy prognosis. after lagging the mechanic health care is making a comeback. and the outlook could be just what long-term investors are looking for. ♪ ♪ ♪ ♪ ♪ >>> the president of the new york fed said toda monitoring the ris to the economy. john williams cited several challenges including slower global growth, trade uncertainties and muted inflation pressures. he said the factors together are slowing g.swth in the but he added that the fed's three interest rateuts since july have helped sustain economic growth in our country. >>> and of course those lower interest ratesd have pus mortgage rates down, helping the housing market. a new s reports both home building and permits for future me construction surged last month. about but as diana olick reports that's not solving all of the housing market issues. >>> home builders are bulli this fal starting more single and multifamily homes a pushing construc

opposition leaders in pakistan where the next move after a deadline for prime minister in broadcom to step aside comes and goes. and there has been a much calmer picture across much of the middle east how much has have come back up again there's a little bit a cat as you move from west towards the east and we have got the child. maybe this wintry showers across into kabul but for the most part it's a clear picture that cooler and back to the high just 18 celsius and there is some cloud on the way that says streaming east is that by wednesday it could be a cloudy day but warming up again into the care skies a high of 21 celsius and we had downed tools arabian peninsula temperatures had not too bad and the humidity really has been coming down over the last few days we're watching is such a little cycle and but it's not really in danger of heading out towards the coast it's in fact could well be heading for the tools that is very possible just keep a very close eye on the progress of this the temperature wise a wednesday 32 celsius in doha and 30 celsius across in fading a lot of it also

for broadcom. that is a real estate problem because you need self power. talk to me about what that is like when you get into the zoning aspects of it and the local politics of getting something like that accomplished and done so that 5g can be here and allow the effects to be what you envision them to be? >> the discussion is going on. i want to be really careful about that. i can tie your that the community, the authority, the times square alliance, our neighbors, there are preparing for that. this building is essentially an antenna to broadcast and receive information. wi-fi capabilities throughout times square will be unmatched. i think it is all in the planning, the discussions. it is with us and our neighbors in the times square alliance as well. that was david levinson. tim cook, trump meets in austin, texas for a tour of the apple factory. the topic of conversation is tariffs. we will have the details next. this is bloomberg. ♪ when you rest on a leesa hybrid mattress, bedtime is no longer simply the time you go to sleep. it's time to switch off

some big tech names leading the way on nasdaq were facebook, broadcom, and tesla. reports that u.s. and chinese negotiators may link the size of tariff rollbacks to terms set during talks in may. i went head over to new york where bloomberg cross asset reporter sarah ponczek is standing by. are we ignoring the trade headlines? sarah: i don't know if we are completely ignoring the trade headlines, at least the good ones. that the u.s. is softening its stance, that did engage in negative outlook. , ae a day like yesterday bureau chief from cnbc noted that the tone in china is pessimistic. they were unfortunately seeing that the u.s. was not going to rollback those tariffs. focused on stimulating their economy. 500 information technology index hit a new high, apple hit a . the bad news, as you said, does inm to be ignored, not just tech, but in the broader market as well. taylor: i want to show a chart in my terminal, which is apple and microsoft. exceeding the entire market cap of the entire consumer staples index. out onear of missing this massive rally. sarah: this chart is pretty u

taylor: you mentioned the chipmakers, for example the one we just saw, broadcom and qualcomm. what other sectors do you see at risk from this heightened sense of cfius review? nate: there's certainly some of the traditional areas like infrastructure, aerospace, and defense. they remain top priorities. but increasingly, the so-called emerging and foundational technologies the u.s. government is in the midst of identifying. things like quantum computing, artificial intelligence, additive manufacturing are , increasingly going to be a focus. those are exactly the areas cfius is most concerned about. shery: it is interesting because we really do not find much consensus in washington. but when it comes to the china stance, it seems to be that everyone is on board. what does this mean heading into the 2020 elections and perhaps how things could change after the result? nate: that is a great point. the legislation passed by overwhelming majorities in both houses of congress. it was a bipartisan effort. agreed to and sponsored by the trump administration. the key takeaway from that is

one other dispute that came up, the six gigahertz dispute which appears to be wi-fi, companies like broadcom, versus utilities who need that spectrum for emergency communications. what is that dispute about? jessica: airwaves are getting complicated and when you have an existing use and you propose new uses, there tends to be some friction. you are seeing that here. unlicensed spectrum or wi-fi is an important part of this economy so we are looking for places to grow wi-fi, and the six gigahertz band is one that we would like to do it because it is adjacent to online spectrum use for wi-fi. there are utilities that rely on that band so we will have to figure out how to do more unlicensed wi-fi along with protect utility activities from interference. the fcc started a proceeding but it is a heated one. we are having discussions about it. we are looking at other places for wi-fi to go, including the 5.9 gigawatt band. david: give us an extent to which partisan politics enters into this. president trump has said it is a priority for the country to go to 5g. how much is it republicans and democr

other dispute that has come up is the six gigahertz dispute which appears to be wi-fi companies like broadcom versus utilities who say they need the spectrum for emergency communications. what is that dispute about? >> our airways are getting complicated, when there is a use and someone proposes a new use there is friction. wi-fi isd spectrum or a part of our economy that is important so we are looking for places to grow wi-fi. the six gigahertz band is one of the places we would like to do it because it is adjacent to existing spectrum use for wi-fi. there are utilities that rely on that band. we will have to figure out how we can do more unlicensed and wi-fi along with protecting utility activities from unreasonable interference. the fcc started a proceeding on that, it is admittedly a heated one. we are still having discussions and we are also looking at other places for wi-fi including the 5.9 gigahertz band. david: give us an extent to which -- give us the extent to which partisan politics enter this. president trump says it is a priority for the country to go into 5g. how much of this i

it was great analog devices was on the prowl and texas instruments, obviously broadcom, now broadcom switched to software that is domestic because they're afraid if this would have been a good -- >> also became a u.s. company. >> a u.s. company. >> yeah. >> david, softbank not involved. >> got it. all right. opening bell ten minutes from now. stick around more "squawk on the street" coming right at you. it was sophie's big day. by the way, she's the next mozart. as usual we were behind schedule. but sophie's enthusiasm cannot be dampened. not even by a run-away donut. we powered through it in our toyota prius. because a star's got to shine, no matter what. it's unbelievable what you can do in the prius. toyota let's go places. >>> markets on hold ahead of the president's speech at noon in new york city, when we'll be looking for headlines regarding u.s./china trade and tariffs in the meantime, the opening bell is in just about eight minutes. as a principal i can tell you this. when one student gets left behind, we all get left behind. this is a problem that affects each and every one

broadcom is higher than where it went. >> that's an interesting point >> in terms of that, it was 5g we misjudged 5g is when you read what korbo is saying, and qualcomm, 5g is dramatically bigger than 5g. it is a theme for us for ages and ages as one after another company -- we haven't seen the viacom -- i'm sorry, the verizon big rollout, we have a bunch of chinese companies. the european companies are going to roll it out it turned out to be this a gigantic spur for the group. when you look at what worked for this period, semis, bank stocks, cyclicals. the bank stocks, a lot of them are waiting for some sort of phase one. where they can move in aggressively to -- by the way, that's part of the controversy the free traders who want more business done with china or is it the hard liners who don't really care for miss business in china and want to starve china so these are very -- i have not seen since i was the judge at the apprentice, two sides that are more at odds with each other. >> speaking of all of that, jim, it seems like we have gone from where is this going to be signed, ri

and you don't have to look any further than the action in broadcom today morgan stanley saying hold the buy. that's a company linked to china. and it doesn't seem to bother them remember, the narrative problem there is facebook, alphabet, they don't rely on china tim cook seems to be -- a q&a today. tim cook does as much business in the united states as they do in china the thing the analyst is missing is software as a service the software service is doing so well and they are not dependent on global trade. they just aren't while i like that, i can go up with excuses of why i want to buy various semiconductor stocks, software, what does that lead me that i hate in technology hp david, hp? hpq? >> which one which hp hpq or hpe which one? >> had much p p is a travesty, sham they're nice people. hpe is -- that's kind of like kohl's >> not bad >> that's one of those where the comparisons are easy we have to stay close to -- look at that. look where it came from in the bad part it is not going away i am worried about hpq. >> what did chip berg have to say during the interview did he want to

. >>> 45 seconds, finals stephanie, broadcom another lag guard, but it's a nice yield motor rolo solutions >> qsr, the impossible burger. i have a flight to catch. >> yeah, go. >> adi i talked about it, december 15s. >> remember what i told you about housing. calm down. >>> thank you, scott welcome to "the exchange." we have a big tuesday for you. can't stop, won't stop, markets again at new highs nearly ever sector is up how long can a rising tide lift ought boats or stocks. plus the $6 million burrito? one analyst says chipotle is better, faster, stronger, you the investor will be rewarded. and foxconn, two years later, not so much. a new study

they are hunkering down wait are for 5g are going into overdrive waiting for the demand it's a bonanza broadcom, sky works, this whole semiconductor complex is now thriving they're all trying to catch up because they didn't see this coming either. they didn't see it coming. exhibit d, boeing. i mean come oshgs. out of time line today are'return of the 737 max. i don't know people believe that they believed it. it is enough to spark a huge rally. i saw this and said okay nope market loved it. stock is up 14% for the year boeing now given all the negative headlines, you expect it to be down 14% nope, up 14% see? this guy doesn't know what he's doing. last week i hurt my hand hitting him. woint do that again. are there too many believers in boeing it is unfair the stock is so high i keep hearing unfair. that's laughable fairness is nothing to do with business the stock is up because there are for buyers than sellers. end of so story. regardless of the headlines, the buyers believe in boeing give one more. i have tons of them. general electric they were a black hole and hit the balance sheet. when

broadcom tried to take you guys over, you guys tried to take out nxp, but regulatory issues, china got in the way now the argument is we can talk about the technology again what is it about 5g that really is going to be opportunity how much is you having more ip per phone that brings in more profit, how much is entirely new areas this gets you into >> think of it in two phases first phase is we make more money out of the existing cellular business just because it is going to 5g. it will go to 5g in the next decade we sell more expensive products and get a bigger portion of the phone bomb in the products we sell. >> billable materials. >> billable materials. in addition, technology required to be successful is important in other markets that are taking on 5g auto, the best first example of that, there are many other behind it. we essentially have ability to take the r&d we are producing in smart phone space, leverage it multiple times for benefit of the shareholder. >> based on how you see 5g ramping, when will investors feel the benefit of you having more ip in the devices >> you're go

so you can see names like broadcom having nice moves. qorvo up 4%. micron technology up 2.5%. texas instruments up 2%. all are having a pretty good day. by the way, that means a new 52-week record for the index where you have a lost telecom and chip equipment makers within that index. >>> you know, from media mayhem this earnings week. big names at bat. look at this. disney, our parent, fox, "new york times," roku, discovery, tivo, lion's gate entertainment. if we wait to hear, we decided to pick out three names that often don't get as much attention but because their earnings could reveal a lot about three sectors that you might be invested in, we said let's turn the spotlight on them. first up, the spinoff from dupont which could open a window into the industrial sector, the maker of coatings including teflon. down 50% this year. actually, year over year. it's enjoying a modest pop of 3.25% ahead of earnings after the bell. even though analysts do expect revenue to plummet. we also decided to flag ethan allen for you. you guys know this name. good gauge of higher end housing

of course over the past couple of years it's been through a gauntlet, whether you're talking about broadcom and the attempt to take over there, the legal fight with apple, the u.s. government among others, on and on and on. what we're expecting, what analysts are expecting from this quarter, around 71 cents in eps, 4.71 billion in revenue. this is a company that tends over the past couple of years 100% of the time to meet or exceed on eps. last quarter there was an issue around anticipation of 5g, seeing a particular slowdown in china ahead of 5g, some oems, customers saying maybe we're not going to be as aggressive about this year's launches because we're going to invest in next year's 5g launches but then at the same time qualcomm was able to settle this beef with apple. now we see apple and the iphone doing better than many expected. that should have an impact on qualcomm, particularly i would expect on the eps side how big an impact? well, we'll see, but those are a couple of the things that i'll be looking for in these earnings >> hey, jon, just really broadly, microchip last night tal

also broadcom, up more than 2% after a morgan stanley upgrade, but chips overall down very slightly great day for biotech, however that etf up 2% vertex, the best performer after a guggenheim upgrade we're also look at altria. those shares down more than 2.5% today, after the new york attorney general announced it is suing juul for its marketing practice towards minors. california announced a similar lawsuit yesterday. altria owns a 35% stake in juul, and its shares have fallen about 18% since the first vaping illness was reported now over to bob pisani at the new york stock exchange. >> the entire decline in the dow jones industrial average is due to home depot. more than 90 points of that decline is due to that s&p 500 we're taking bets on whether we can get into positive territory. it's exactly flat, down a fraction of a point right now. we'll see if they can do that. it's been trending up in the last couple of minutes the dow jones is down 100 points >> good afternoon. welcome to the "closing bell." i'm wilfred frost. >> and i'm sarah brennan along with mike santoli. >> let's check in

let's not forget that broadcom is doing very well too so i would not sell amd, not here, not with this momentum, not stock momentum, momentum in chips. i really think lisa su has a fabulous lineup versus intel >> is jensen huang creating the matrix is that what's going on here >> i don't think it was jensen huang. i think artificial intelligence version of him, in simulation. he's unbelievable. that jacket -- i got to get one of those jackets maybe that's what makes it happen. >> what is he modeling modeling going to mars >> landing a bunch of guys on mars in 2025 and apparently you have to send that thing hurdling in and i think jensen figured out exactly the way to make it so that the spacecraft does not crash. talk about a guy thinking five years ahead of us, david >> all right i didn't even know we were planning on that >> oh, my. are you kidding me i thought you would be on it >> only if you're going, baby. >> no, i'm talking -- i'm going to jump, i'm going to do a jump at u.s. air force academy. >> jump out of an airplane. >> yeah. i got to talk to my life insurance guy first, se

i think you want to be story specific and we're playing wit broadcom >> a record-setting day for alibaba. the chinese ecommerce giant just wrapping up its 24-hour shopping event singles day with more than $38 billion in sales nearly a 26% rise from last year's event, making it alibaba's best singles day ever. really sort of makes prime day and even cyber monday look like nothing here in the united states ian, what does this tell you about alibaba or even more broadly about the chinese consumer and where we sit? >> it certainly seems like the chinese consumer is doing pretty well i guess the only cautionary thing i would take away from it is the year over year growth did slow a little bit. and with hyper growth stories, that's something to keep an eye on but overall, it seems like they're not too phased by what's going on with the trade war. that's for sure. >> i think maybe the year over year is slow, but it did beat expectations i was a little surprised that we saw this stock trade down. the numbers are pretty impressive overall and i think that we overlook a little bit some of the data