that's exactly what nvidia is trying to do. they're trying to compete in -- by addressing a larger market. they started with gaming initially, then they expanded into the data center because there are similarities with processing gaming and processing a data center. whereas you have intel that can address general-purpose work. what they are trying to do with arm, with cell phones they want to acquire -- to expand into the server space. that is exactly what nvidia is trying to do. caroline: the ceo is confident in the arm deal. talk to us as we hit record data center and gaming revenue. is there anything in the earnings statement that speaks to you at the moment? >> as you have seen, nvidia posted a strong quarter. it is the fourth quarter in a row where they beat expectations . it is like the strength of nvidia, the strong position with investors. it is great company. the fundamentals are very strong. the ongoing cycle, they have been enhanced by the lockdowns for gaming. we are concerned about the potential to pull back on mul

ed ludlow has been listening in on the nvidia call. ed: they have acknowledged it is taking longer to work with regulators than they expected. they are still confident the deal will go ahead. they have registered complaints but look at the share price. everything has rose. it initially felt when the numbers first hit. they're talking about fraud based demand and cloud. what was interesting was crypto chips do not expect that to be a meaningful contribution going forward. let's focus on the arms deal. the shares have done so well over the last 12 months, when the deal was first on the table, it was a cash deal worth $40 billion. because the stock has gone up so much, we are now at a more than $50 billion deal. you have some on wall street saying why spend that money for a little bit of incremental revenue? this is something you have to ask these guys going forward when we have those on the show. at the end of the day, investors have been pouring money into the stock. the blue and white line, the s&p 500 is just massive outperformance ba

nvidia has a business model -- nvidia says it has been able let leads to secure enough supply to meet its growth targets. nvidia says it is still confident the deal with softbank will get done, but it is pending regulatory approval. nvidia acknowledged that talks of global regulators are taking longer than expected. they also acknowledged the grievances with licensees including intel and qualcomm that are competitors of nvidia. we know chips for crypto mining have used it the bottom line in the top quarter and had an effect on the last quarter. manus: the latest update on nvidia and its bid to buy arm. president biden has said he will withdraw all americans from afghanistan even if it takes longer than the original august 31 deadline. >> the idea that there is somehow an idea to have gotten out without chaos -- i don't know how that happens. dani: the president defended his decision to leave kabul as the taliban advanced. >> that was a failure of the government leadership and also political failure of the international allies. this is a failure of the peace process that changed to a w

let's dive into nvidia, 104 beats 101, and revenue up 68 is a slight beat. >> nvidia was a remarkable quarter, and when i went over it with them, one of the things that's incredible is that people still focus on crypto. this is a play on gaming, but revolutionary gaming play on data center, but at the end, the conference call it's about metaverse, as we heard from zuckerberg. but i call him da vinci for a reason and i named my dog nvidia for a reason because of jensen he's talking about creating your own universe and you could find yourself in a factory. you could find yourself in a stadium. you can find yourself in an airport. you can find yourself talking with people. you can even program yourself. i was talking to them about the idea, could i program myself and watch san do a c scape, sure, why not? there isn't anything that you can't do and the final line here is that jensen says the omniverse or the metaverse is going to be a new economy that is larger than our current economy. he's talking about a world that doesn't exist that's going to be bigger than our current world. >> buil

crypto is not a core business for nvidia it can help or hurt results. then for the data centers she says growth was driven by big cloud cover and like financial services and telecom thank you. >> thank you very much for that. tim seymour, let me turn to you. it's hard for me maybe not to make the connection here, but nvidia was one of the derivative plays because some of the chips they make were used in some of the mining rigs to get things like bitcoin out there, ethereum, whatnot. this is a stock that's up, looking at my screen, 55% over the last 12 months is nvidia a crypto story still >> no. no i mean, look, it's a gaming and d data storage story the crypto has been a driver along the road this is a stock up 350% over the last couple of years, but coming into this print was below the 50 day for the first time since i think may or so. it's been a little bit heavy along with all semiconductors. yes, crypto mining has certainly been a feature for this stock. it hasn't been the feature gaming up 85%. that's the story that's a $3 billion business now and

emily: still, nvidia shares are up more than 5%. u.k. regulators and also others in the chip in the street this deal to happen. so why are shares up? ian: a good question. nvidia, as you know, reported very strong earnings this week. it is a company that is extremely highly valued by investors, trading at 70x. earnings were good enough. the ceo fulfilled the promises he said he would. we are seeing this meteoric growth. but he said, by the way, it is taking longer than we thought, some regulatory -- responding to this slower than hoped. some of their customers don't even like this. emily: you have been covering the chip industry for 20 years. what is your sense of how likely this deal is to happen? ian: paul can tell you is that nvidia remains extremely confident. they believe they have the magic formula. but frankly, investors don't care, as we saturday. this is not something they are factoring into nvidia's future. they are saying, we believe this is a company that can be successful with or without arm. why doesn't nvidia take that $40

is considering blocking the takeover of arm by nvidia. nvidia stock is down by about 1.7%. remember, nvidia is the largest u.s. chip company by market cap, and this is a $40 billion deal to acquire arm, currently owned by softbank. we were talking about this earlier, that this would be a potential deal breaker for the u.k. government, not wanting to give it over to nvidia. guy: the concern here obviously is that while softbank's ownership allows for arm to sell to everybody, nvidia is a very different story, and the u.k. government is certainly tightening up its restrictions in terms of allowing such sensitive technology. arm designs huge swaths of semiconductors used in everything around the world, and as a result of which, it may have made the decision that actually it will block such a decision. others are being done, so it is interesting to see what happens. certainly something to watch out for, but governments around the world taking a much stricter view and interpretation of the law in terms of particularly chip design and security. alix: and nvidia is down by 0.8%. b

i think said google instead but it is actually nvidia. >> correct. nvidia has been a great stock for us. we have held it for a while. it had great earnings and follows through from last week. nvidia is unfortunately benefiting from from what intel is losing from the data business. as we head into the fall we think with the delta variant you could see economic slowing, people getting concerned, you want companies in control of their own destiny and we think nvidia is that company. liz: okay, but you're telling us to buy it at an all-time high. i get what you're saying. we had jeff flock at a ford dealership where he says they have to idle one of the plants in the midwest simply because they can't get chips for it. i get the demand part but don't you want to wait for a little bit of a pullback? >> you could certainly see a pullback. you're seeing great news out of earnings last week but nvidia is company you want to own going into the fall. i don't think you should get too cute. this is a stock that has run, very good stock for us over the last several

may block a takeover of arm by nvidia. in april, the cma was asked to investigate if the deal could be deemed anticompetitive. and the ftc chair is signaling a pathway forward for bitcoin. he said strict rules could provide investors with necessary protections. the ftc is morning that companies awaiting merchant -- awaiting emergency approvals may be in for a long wait. the government agency is processing the highest number of -- processing its highest number of cases. at the tokyo olympics, american gymnastics start simone biles made an emotional return to competition. she withdrew from earlier events . she now ties the record for most decorated u.s. gymnast. haidi: a big guest from tokyo on those olympic games coming right up. an exclusive conversation about how these unprecedented olympic games are going. coming up next, more views on china's possible crackdown on games after it decried the spiritual opium of games. this is bloomberg. ♪ >> there's been some concern about weather capitalism is at an end in china amid a

for nvidia, it is committed to paying $2 billion no matter what happens. nvidia really wants to get this through and the company says it is confident it will get through. yvonne: our star asia tech editor, thank you. we will be watching the bank of tokyo. malaysia's political woes have gotten worse. the country's largest political party has withdrawn support for the ruling coalition and puts the prime minister in doubt as he faces sure to resign. and traveloka is in talks to raise $400 million as part of its plan to go public via a. david: spac of southeast asia benchmark is up a third straight day. a couple of moving averages to watch. vietnam is a little closer to the top of the 50-day moving average. the philippines has been hit in a lot of ways, declines all over the place. jakarta and to a lesser extent singapore have basically been rangebound, two of the top-ten, a lot of momentum, through. singapore reporting earnings this morning. the split right now, 20 up, 8 down. we will look at some of the lenders. rishaad: dividends as well. let's look at some

that should not be a prime reason to be bullish about nvidia's future. do you agree with that >> no, it's absolutely not the worry is they've done a crypto revenue, that's like stand alone pure play crypto there's some amount of crypto that's in the gaming business. we don't know how much that's the worst, right? if crypto starts to roll, does it impact the gaming business? that's where they worry about. where we take some solace is the stand alone crypto business misses that's a good thing. it means the rest of the business was stronger and it may be able to read across maybe it means the crypto business in the gaming is not as big as some people thought the stand alone crypto business is lighter than we thought that's good. i don't think anybody is buying the stock because of crypto. everybody that's buying the stock is afraid of crypto. >> stacy rasgon, thanks for joining us scott, stocks finished today worst day in about a month 1% on the dow. closed at the lowest levels. we'll see tomorrow how the market absorbs some of these earnings i would point

to mitigate that when nvidia has been doing is -- nvidia wants to prevent siphoning of graphic cards from gaming to crypto mining. they have done it two ways, crypto specific chips which boosted the topline last quarter, and secondly they made graphic chips for day less effectively for crypto mining. it is a juggling act. they do not want to make too many chips and see the crypto mining demand dissipate. this is a stock investors have poured money into and it is a strong outperform a relative to the s&p 500. alix: not to mention arm and what is happening with the potential merger with u.k. company. the other thing to watch from fomc minutes later today. we have michael mckee to help us break it down. the words you're looking for? michael: the word i am looking for is any kind of clarity. the fed meeting took place on july 28. since then we have had the covid come back in the delta variant and uncertainty has risen about the economy. we have had some bad economic data recently. at this point the uncertainty index is up while the economy -- while inflation is rising as well. which take

nvidia and its bid to acquire arm is taking longer than expected. >> nvidia continues to see strong demand from gaming and data centers. gaming revenue surged 85% in the quarter to more than $3 billion. they gave a rosy outlook for the current quarter as well. demand is greater than supply, according to nvidia. the chip shortage is here to stay, at least into most of next year, 2022. nvidia has this business model that has been discussed throughout the chip shortage. it designs its own ships and outsources production to the likes of tsmc and samsung. that's where the bottleneck is. nvidia has been able to secure enough supply to meet growth targets. we got an update on the arm deal. nvidia says it is still confident the deal with softbank will get done, but it is pending regulatory approval. nvidia acknowledged that those talks of global regulators, including china, the european union and the u.k., are taking longer than expected. they acknowledged the grievances of some of arm's licensees, including intel and qualcomm, that our competitors of nvidia. we know chips for crypto mining has bo

haidi: we are watching nvidia after the largest u.s. chipmaker topped estimates on second quarter sales. the company is warning its bid is taking longer than expected. let's get more from our west coast reporter, ed ludlow. what stood out to you? ed: nvidia is able to grow. we saw a big surge in chip sales while being supply constraint. the chip shortage is still present and it will continue for most of next year. that is what executives have to say on the earnings call. nvidia is one of the pioneers of the business model that has been so much talked about over the last year almost or so that they designed the technology behind the tips and outsourced production to the likes of tsmc, samsung, and that is where the constraint is. nvidia did say that they were able to at least secure enough supply in such a way that they can meet their growth targets going forward. shery: what is happening with nvidia's attempt to purchase --? ed: there was a change in language from the prior quarter. nvidia says it maintains confidence that the arms deal

they traded quite tightly, crypto and nvidia, but nvidia has so much going on and going for it, frankly. >> they did introduce new products just for crypto miners, and those products, miners are going to use those chips to handle those transactions. actually today after the call, i think there will be a lot of questions for the cfo about what sales for the chips look like. >> impressive. josh, thank you very much. josh lipton. nvidia reports after the bell this afternoon >> that does it for "the exchange." thank you for joining, but don't go anywhere because [ applause ] starts now >> that is right please do not go anywhere because "power lunch" is beginning right now, and here is what we got on our menu for you today. the release of the fed minutes is imminent. will there be more clues about the taper timeline how concerned are officials about inflation? we have team coverage, analysis, and the market impact. also this hour, packaging producers seeing costs spike, but get this, they plan to pass on all of it and maybe even more what are you going to do if you can't get the cans to sell

emily: an incredible scoop by you, what does this mean for nvidia? >> back to the central point, quite a lot of analysts say this is a huge bonus. certainly something, the next big expansion for a company that is done well. there's a lot of cynicism. probably doesn't destroy. for a lot of investors at this point. it is definitely a hangover, something they would like to see. emily: is it a boost for nvidia's competition? what does this mean for the broader landscape? >> that is a good question. we have already seen very large companies, come out and say we don't want this to happen. you really don't want to see nvidia get any stronger. if you are a competitor. very important market for a&e. anything which holds up the charge has got to be good for them. emily: ian king, we will continue to watch your reporting on this and see if we get any official word from the government. thank you so much for that story. meantime, another one we are continuing to watch, microsoft joining a list of big tech corporations that will mandate vaccine. decimated vaccines

why would you ever name both dogs the late nvidia and the new nvidia of a company if it weren't the best, but that doesn't mean lamb isn't really good and that's the lightning round >> the lightning round sponsored by td ameritrade. >>> coming up, our inflation bear is missing some necessities. cramer explains why jay powell is the man the market needs right now. next that's why td ameritrade designed a first-of-its-kind, personalized education center. oh. their award-winning content is tailored to fit your investing goals and interests. and it learns with you, so as you become smarter, so do its recommendations. so it's like my streaming service. well except now you're binge learning. see how you can become a smarter investor with a personalized education from td ameritrade. visit tdameritrade.com/learn ♪ >>> let's go through this, think about it a little more positive. what if we got a supply crisis where everybody's holding off from making things what if the homebuilders just say, you know what we'll wait until all the components of a house get cheaper or the automakers did the same

amv is a big competitor with nvidia. analysts say if there was any threat to this deal, it could threaten nvidia's domination. they are the biggest u.s. chip company by market cap and announced a deal to acquire arm back in september as part of the push to reach into the market for semi conductors. arm owns the most widely used sets and designs in the industry. it is currently owned by softbank. we know that the u.k. did seek in april to investigate whether the deal could be anticompetitive or could pose national security concerns. it is not exactly clear how a japanese owned ship division would pose -- chip division would pose those concerns but nonetheless nvidia has said they are working with the regular tory process and there's still the possibility of a deal -- regulatory process and there is still a possibility of a deal. haidi: the kiwi dollar is moving on the back of the labor market data. >> a surprise improvement in the jobless rate for the second quarter, which is tightening bets. new zealand's cash rate that

you don't have the right to be in nvidia. you just don't i'm telling you right now, if you're in pretheorem, shame on you. >> you're out. >> yes >> joe t it's in, joe t >> it absolutely is. this is a quality company. i agree with jim the concern i have is gaming it's a little wobbly right now, isn't it >> yes, yes, yes, you're right >> so, that's the current concern i have and what kind of guidance can i just if he doesn't give an update >> remember they're back ordered to all these different game companies and some of these things like twitch seem to be an addictive quality. look, it's been heard -- it was hurt by an inventory glut e theer yum. jensen is going to come up with more things so we'll look back and say that stock wasn't that expensive. a few years ago it was 18 times earnings >> stephanie said it will be incredibly strong. they're going to kill me, but i'm going to ask you anyway. cisco, after the bell also >> who's going to kill you >> the producers are probably like -- >> this is what you do, okay we're talk ab

that is how nvidia phrased it. they flagged that they were transparent, qualcomm and intel phrased grievances. they underlined it with your still confident the deal will get done. they are trying to sell the virtue of it getting done. the value of the deal is now 50 billion. it was 40 billion at the time that it was negotiated. there is a real spotlight on this. we are at a stalemate when it comes to regulators. >> where does this growth come from in the second quarter? >> with data centers and gaming, it was $.68 topline growth. nvidia continues to say that the global shortage of semiconductors will continue to -- continue for most of next year. demand is greater than supply. customers over order out of anxiety that they won't get the chips down the line. that seems to be boasting the -- boosting the topline for nvidia. >> ed ludlow with the latest. plenty more to come on daybreak australia. this is bloomberg. ♪ introducing xfinity rewards. our very own way of thanking you just for being with us. enjoy rewards l

money court, you own nvidia as well, right? >> yeah, i think the way you got to look at nvidia, it's the moderna of the semis it's a must-own name every single sector of the s&p 500 is using their products and services they are the reason you can digitize, they optimized digitization they're basically the infrastructure of the new america 2.0 digital direct to consumer business and every aspect of it, in every sector. you got to hold your knows on valuation but you always had to on this thing. in the early days of volatility they basically showed executionle skills and then brought the standards forward on all the digitization technology. i don't know how you can't own it if you want to be in the mechanic this is the moderna you have to have the way i look at it. >> all right ask halftime is coming up next ask questions by video we will aiay them on the air and you can eml us at askhalftime@cnbc.com we're back in two plnminutes. t-mobile is the leader in 5g. we also believe in putting people first by treating them right. so we'

or nucor nvidia looks wildly expensive, but that's illusion. stock just jumped in less than a month. lot of good news baked into the share price and nvidia has been consistent but that's gutsy, company just does so well no matter the circumstances, so i often want to take the what's in the stock part off the equation when it comes to nvidia. what about more important part of the equation -- what's in the company? you see nvidia selling for 50 times it earns, usually means when we look back from the future, stock will turn out to be cheaper than it seems but earnings were better than expected historically -- much cheaper than we that you in the rearview mirror i think we'll see that monday when they report but nucor is the opposite. as steel maker, boom and bust, hostage to the strength of the economy. low mark usually means business is about to fall off cliff and will look expensive in retrospect if the steel prices collapse if not well-run, risk would be worse. but remember i think that the nucor stock price doesn't adequately reflect the infr

you have to belong to the elite semiconductors, nvidia, advanced micro devices, marvel those are the three elite semiconductors you've got to be on cybersecurity because that's part of warfare,z-scaler, palo alto, crowd strike and the low end retailers because if the economy slows walmart, target and dollar general are the places to shop. liz: yeah, you know, i know it was fun to be in names like neo and i'm looking at alibaba here, neo is getting hammered we've got alibaba down 6 and 1/3%, let me look at didi, today it is down 8% so these pure play china names that a lot of people have gotten out of, teddy, i mean, it's worrisome for many who decide, look, i want to take a chance of these and yet, any money that they had made in the past six months looks to be at least in the case of let's say tencent looks to be gone at the moment down another 5.6% so where do you go from here? >> well, liz, you know, if we a scribe to the saying that markets like to climb walls of worry, clearly we got plenty to worry about as sarge just pointed out but it also sounds like he wants to be on a lot

cyclical oriented aspect of the market you know, but nvidia, i believe is just the gold standard. they're in everything. you know, from gaming from machine learning, from from ai i -- it's marred to trim the napes because they keep on running. but n individuallyia is a great pick technology lass played different roles over the last decade primarily it's growth. but it has leaned more defensive over the last several months as investors start to take into some volatility and say, well growth at a reasonable price is maybe fang is where i find it. >> but is it still a reasonable price on nvidia? are you still holding the gift >> so not -- it's not. it's not clearly obviously it's an expensive stock. but i think it's expensive for a reason they -- again they are the gold standard in the space. it's worth owning. and quite honestly if there is a pull back that's a name that's worth buying on the pullback >> nvidia. >> if the we ever get a pullback in the next 25 years lites talk about the cyclicals, financials they have been hot many of the financials are at or near record highs. the g

is reaching a deal with nvidia for a super computer this as it waits for a delayed intel machine. >> and a cyber call to action, the president set to meet with the ceos of apple, amazon, google, jpmorgan, and others about the growing cybersecurity threat overall, though, jim, a lot of discussion about the rally we've had the last couple of sessions, whether or not positioning was just too cautious in the wake of what we think is a rollover in delta. >> i think that we're kind of between the rollover of delta, but the smermoderna and pfizer,y only have effectiveness through six months we do get this j&j news. my information is source from pretty good places, and j&j news is great get a booster, but i think that we're all discovering that we thought that we were protected and we keep trying to figure out how could there had be so many breakthroughs on month seven, month eight. of course the fda is only advising that -- i think that's because they don't feel there are enough boosters or they don't feel people will take the booster, take the actual if it only lasts for six months so i th

nvidia was down 1% on the open now it's up almost 7%. netflix. we are having these washouts take place in minutes and hours versus days and weeks. it's fun i don't know how much longer that can last. that's the environment and the really big shakeouts are not in tech. the really big shakeouts are testing your bullishness on the economic recovery. to steve's point look at the xle. it's already off 20% from the highs. now, it's still up 20% year-to-date, but when it was leading the market in first six months of the year, a lot of people were like, energy, energy, energy you don't really hear that much. that's where the big post earnings declines have been. the airlines are unraveling. look like absolute garbage cruises and casinos, too look at wynn stock fell like 40%. felt like it was within minutes. that's where people are being tested large cap tech is acting almost treasury bond-like at least for now until that changes, it's hard to get worked up. >> it's been a defensive part of the market, right? >> how much cash yeah >> so, dr. j, i still fe

performers in the nasdaq this week back of to you guys. >> we'll get nvidia tonight. thank you. >>> with stocks weaker again today let's dive into an investor that's synonymous with the bull rally that's cathie wood and the arcen no innovation etf ark short invest now $2.9 million. that's 13% of the float. cathie wood will join us tomorrow on "tech check" to talk about her bets, why she makes them and the larger forces at play meantime look at where the ark valuation is right now bring in professor of finance motoroff great to have you back talk about ark you have said that her able and willingness to make big bets is kind of a superpower or at least it has been. right? >> yes it explains why she is so successful at least over the long term but i think a weakest link and people that put the money in the fund is the micro stories of ark weakly thought through. if you don't know value wags the worst thing to do is do valuations and show the world you don't know what you're doing and looking at actual value wagss of companies by ark my reaction is a complete -- the story

i've liked nvidia for a long time what you're seeing with nvidia and asm now and a couple of these other chip names, they are the beneficiaries of all the shortages we're seeing people want their product, they have money to pay for their product and obviously based on their earnings, they are getting those orders in. at some point in time, you know, with a p/e north of 50, i believe it is, it gets expensive. that's a problem for another time and by that, i mean valuations only matter until they do. right now it's all about what their forward-looking earnings are going to be and people can put whatever multiple on it that they want. i still like them all. >> all right, coming up, crude's comeback, energy stocks surging on the back of the rally in oil prices shoultd you be pumping into that trade? and we're building up to toll brothers earnings tomorrow how options traders are laying up the foundation for that report awhe,fa mey "ston" is back in two esg is responsible investing. who's responsible for building esg into your investments? at pgim, the pursuit is on for outperformance. as act

the government is using chips for amd and nvidia for the super computer doesn't that say it all? next up, housing, boy, isn't that incredible at this stage of the cycle. there's so much demand from high p -- hybrid workers moving from the suburbs. longer trade will turn on the demand for homes in a country under building for a decade. homeowners with land, the best land, and toll brothers, which is on tonight. that's how you pick a long-term winner they need the land third, what an incredible bull market for the financials. gol goldman sachs, morgan stanley, wells fargo, bank of america did you see this trade today they are trading small caps when huge buyers come in all at once, why, they're incredibly cheap and could be a few months away from the rate hike psych m relative to the rest of the market, their stocks represent the greatest bargains in these stocks these days. it's easy to like goldman sachs which trades a ridiculously low, beyond that. and that's even after it's 56% run this year, crazy cheap, same for j.p. morgan, cheapest i have seen it relative to the group. i sa

nvidia is the biggest chipmaker by market value. it announced $40 billion deal to acquire a deal from softbank. it is currently being considered by ministers. hedge fund alpha dine has become one of the biggest casualties from a short squeeze in the global bond market. it's $12 million macro trading strategy is snared in bad bets on rising interest rates. the investment firm is facing losses of around $1.5 billion after his hedge fund plunged in july. they have never had a down year since it started in 2006. an attempt to phase out -- blackrock and other major financial institutions are working on plans to accelerate the closure of coal-fired power plants. hsbc is among the partners. that is your bloomberg business flash. anna: thank you very much. let's turn our attention to china, it is experiencing its broadest outbreak of the coronavirus since the beginning of the pandemic. at the outbreak is hampering tourism and spending during the peak summer holiday. let's talk to tom mackenzie, who was recently our china market anchor, and

nvidia, another mover. up about 70% in 2021 the department of energy apparently nearing a deal to purchase a supercomputermade with nvidia and amd chips as it waits for a delayed intel machine. taiwan semi climbing about 10% this year. about 20% from its all-time high reports suggesting it will lift prices for the most advanced chips it makes by 10% next year and raise prices for older chips as well. back to you all. >> a lot of catalysts there. josh, thank you. i feel like we need to pause for nvidia again driving up the nasdaq 100. just when you wonder if it's too late to get into the stock it makes another monster run to new highs. >> obviously the part in the absolute sweet spot of the industry in terms of the end market it's going into, i guess, it had a stock split. everything that they want to do is sort of really maintain the enthusiasm for the stock has been done. it's really the monster in terms of market cap size of the group we used to think about intel and qualcomm nvidia blows them away i do t

charles: yeah, yeah, i have nvidia from a long time ago but it is so extraordinarily volatile. my brother from another mother great seeing you both always great information and the market which is sideways even after we digest the fomc minutes so what's going on i have a feeling liz claman will help us out? liz? liz: i don't know, charles you've got to look at the skies above the federal reserve in d.c. we got fed hawks dive bombing the fed doves as we kickoff this final hour of trade sending markets tumbling at one point to their lows of the session, they're off those now but the release of the fed minutes from the july meeting showing increasing discussion over reducing its $120 billion per month in asset purchases later this year. our floor show power panel reads between the lines for stock, bonds, and the housing market, which stumbled, if you just look at the headline number, as the pandemic supply crunch lingers. what does that mean for a company built on disrupting insurance for homeowners and renters. the lemonade ceo, yeah, the big momentum stock of last year, is here,

now nvidia reports tonight, nvidia has not -- they make the most powerful cards which have been used by miners. they're only giving the minors the ones that aren't even acceptable for gamers. it's not how nvidia makes its money, those who are trying to trade it, that's a big mistake but the fact is this thing is being used worldwide, and you can't fight it you can't. i mean, you may decide -- you may think it's fraud or you may think it's tulips but enough people are involved in it that you're fighting the tide of history. >> escape velocity and acceptance in that sense at the big board this morning, we do have the realtime exchange advisories celebrating the third anniversary of and the lidar company begins trading after completing its spac merger. >> lidar, you you're talking about -- i keep waiting for mobile eye. >> you say this every time. >> mobile eye is, wh working it's driving around jerusalem with no people, and we have investigations of tesla. we're not hearing investigations in israel of things going wrong. i always felt that the mobile eye acquisition was brilliant. i've

i don't want to give too much away nvidia you are a big believer in semiconductors i cover oil and gas. you are telling me semiconductors are the new oil >> yes semiconductors are the new oil one of the things we have seen which concerns us as a possible long-term threat to global economic stability is rising u.s./china tensions. that is directly related to the global semiconductor shortage. what you are seeing is a scrambling among countries to stockpile. the pandemic really led governments to realize that they needed self sufficiency with the vaccine, but with semiconductors which are critical to technology self sufficiency and development. we have seen a scramble for various countries to be able to produce their own. this overall industry, we expect revenues to double by 2030 it will be interesting to watch how that affects the sector overall. you know, the u.s. used to manufacture in terms of foundrys in 2000, we had 25% of global manufacturing. that dropped to about 12%. when you look at high-end chips, semiconductors required for the most sophisticated technology processes, 90% o

and demands from crypto miners, that is an area nvidia has seen a boost from. back on tessa, yes, run of declines. you bring tesla up side-by-side to the s&p 500 over a 12 month basis, one year, -- vastly upper forming the broader index. remember, it was down near today but the run-up we saw in the shares over 2020 so significant. finally we want to look at walmart. investors could not make their mind up about how they felt about the company's earnings. see a little movement over the -- we come quickly into my bloomberg terminal. that growth that we saw because of the covid pandemic has slowed right down to single digits. where's all the benefit gone from the pandemic gone? where's the commerce story for walmart? emily: we will talk about that more later in the show. thank you so much. meantime, as they mentioned the surge in delta variant cases containing two run market sentiment. i want to bring you up-to-date on the latest headlines. i 30's are planning to extend m m- authorities are planning to stand mask mandates for trains and planes according to reuters.

nvidia based in santa clara and arm based in england both make chips. the report says the british may have national security concerns about the nvidia purchase. >>> good news out of lyft, the san francisco company made a profit. i'll explain the air quotes in a second. it's the first quarterly profit the company has ever made and of course it comes as we try to get ourselves out of a pandemic. just about a week ago, marcus and laura, i would have said as we were exiting the pandemic but things have change. it's difficult for lyft to get drivers on the road but the money is coming in. as we were talking earlier the profit thing, it's ebida, earnings before taxes, depreciation and amortization. all the things you can take out to make a profit. a lot of companies make profit with no air quotes. but it's a step. >> there you go. thank you. >> turning to the sky high prices at the airport, mainly at the bars and restaurants. this morning up with traveler at new york lagarde da's airport was shocked to find sam adams bear selling for $28, he tweeted a photo c

charles: real quick, gary i got 10 seconds, nvidia after the close, are you in either of them? >> i am not. i think in a bear market hood is down 50%, nvidia great company but i have no clue what's going to happen after the toss of a coin. charles: yeah, yeah, i have nvidia from a long time ago but it is so extraordinarily volatile. my brother from another mother great seeing you both always great information and the market which is sideways even after we digest the fomc minutes so what's going on i have a feeling liz claman will help us out? liz? liz: i don't know, charles you've got to look at the skies above the federal reserve in d.c. we got fed hawks dive bombing the fed doves as we kickoff this final hour of trade sending markets tumbling at one point to their lows of the session, they're off those now but the release of the fed minutes from the july meeting showing increasing discussion over reducing its $120 billion per month in asset purchases later this year. our floor show power panel reads between the lines for stock, bonds, and t

this was nvidia one, and he loved it so much that when we had nvidia 2, the second, he is allowed into headquarters. and he is in the headquarters in heaven all right, talk about sticker shock. it seems like every company under the sun is raising prices. except for, by the way, petco. they're having trouble raising price because they're in a very competitive world. i want you to think about the handful of companies that are willing to pay up for their products right here, these are the kinds of stocks that you want. okay on "mad money" tonight, lith yeah and driveway. looking to capitalize on the new and used car markets, but with slowing auto sales because of say chip sales be reason for concern? i'm getting a read on the space with the ceo >> then wall street is fired up about two new grilling plays, but which one deserves the title of "mad money" grill master? i'm serving up my thoughts on traeger and weber. and yesterday, a new partnership with paypal to enable more efficient payments for gig economy workers. i'm talking to the ceo so stay with cramer. >> don't miss a second of "ma

. >>> plus nvidia dropping as they gear up for earnings tomorrow. we'll tell you how options traders are plugging into this one. "fast money" is back in two. t'st milestone, the biggest accomplishment, the sale of a business, or an important event for their family. for them, it's the first and only time. we have seen this literally thousands of times, in thousands of iterations. ♪ ♪ i am vince lumia, head of field management at morgan stanley. whether that's retirement, paying for their children's college education, or their son or daughter getting married, our financial advisors need to make sure that they are making objective decisions, every step along the way. every time you hit a milestone, an anniversary, a life event, the emotions will run high. making sure that you have somebody, a team of individuals that have seen it before, have seen every circumstance and seen every challenge, and have your back when you need it most, is one of the most valuable things a financial advisor could provide to a family. i am vince lumia and we are morgan

nvidia is the biggest semiconductor company. that made no sense whatsoever. >> no, it didn't. >> you have something here. >> these are enemies of the people go ahead. >> friar tuck holdings got to love that >> who is friar tuck, he was the big dumb guy he's not dumb today. >> he was funny. >> maybe he will be when he looks back, friar tuck and says why did i sell >> friar tuck is the memes? and then he's affiliated with -- >> give us the real rich people. >> index ventures. i mean, i don't know who these people are steven ovitz dispositive trust enough of that thrive capital who's thrive isn't that -- all right, that's it >> that was really helpful >> that's what i'm here for. >> all of it leads us back to the conversation we had with vlad tenev on ipo day about its evolution into a potential meme name here's what he said. >> with what we've seen in retail investing over the past year is that a lot of these companies have been hit hard by the pandemic, right? and you see it started with some of the airlines and then followed wit

so paypal, intel, nvidia, microsoft. super mega caps have been a bit stronger, microsoft and apple, for example. but either side a positive or negative let's say that that debate is not yet over again i think the key here, carl, is higher rates have basically helped the market look through the whole delta variant story and that's been a major story. on the delta variant, still, slowing, not derailing the recovery and the key question is what exactly do you mean by slowing. you can change behavior without going through lockdowns and that's what we're debating right now, how much are we changing behavior carl, back to you. >> thank you, bob pisani. >>> still to come this morning, earnings, e-commerce trends and the pandemic, a first on cnbc interview with the ceo of ebay. >>> first time for the bond report, take a look at treasuries are doing ever since we get ppi just over an hour ago. 10-year is hanging in there at 1.37 across the atlantic some new data showing that eurozone industrial production fell unexpectedly in jun

alix: nvidia also one of the lower performing sectors on the s&p. there is the issue with the takeover u.k. get company as well. there is a bidding process as well. also target. my for everything in massachusetts is to shop at target because it gives me and my daughter is something to do, but sales estimates for comps are coming in 8%. after home depot it'll be interesting to see whether target comes out. you could also argue on reopening they will do well. where they straddle in this quarter. guy: if you take a look at today's numbers, what surprised me out of the u.s. retailers was we are not getting a better performance on the e-commerce side of things out of walmart, which i thought was surprising. this morning i was looking at the relative share price performance to see what is going on. the underperformance of walmart is staggering. i huge explosion within some of the u.s. retailers which is fascinating. alix: and tough comps at the end of the day. that wraps it up on television. coming up, kay bailey hutchison, former u.s. ambassador tomato w

it is micron and nvidia and biotech. regeneron. gaining 3% so far in august. what else is hot lately? crypto smoking. ethereum up 20% just this month coming into this morning right now, they have cooled off a touch. bitcoin is flat to slightly down ethereum off 1%. still a red hot august so far. we will get more on the cryptos in a couple of moments >>> the big loser is crude oil crude oil down 4%. one of the biggest moves we have seen this year two things hitting crude number one, rising u.s. dollar and the concerns about the global demand hit because of rising covid cases in china as well concerns about new lockdowns both of those taking their toll and oil is weak coming into the week it fell 7% last week sharpest weekly decline in nine months crude oil is down. natural gas remains hot. >>> trading in europe is well under way. like us, there are concerns of global growth front and center let's get the latest and join julianna tatelbaum in our london newsroom with the moves and some of the early headlines julianna, good morning >> brian, good morning interest

nvidia didn't really talk about this on the call. astrazeneca is going to seek regulatory approval for its new antibody --

nvidia didn't really talk about this on the call. astrazeneca is going to seek regulatory approval for its new antibody -- we are below 1.17. in terms of the technical set up, it looks quite troubling. we will talk more about that with kit juckes. alix: where the equity pain lies, that is what i want to examine. the answer is no. one area you definitely think would continue to get hit today would be the golden dragon china index, the chinese listed adrs in the u.s. you had alibaba at another record low. the majority of chinese equities again up to the woodshed, particularly if you are a technology sector come yet we are up by 0.3% today, so definitely a buy the dip feel despite more oversight coming from the chinese government. russell 2000, the longest selloff since february, now up 0.6%. definitely off the highs of the session with the euro getting a little bit of ground. copper got pummeled. stronger dollar, yet that is up by over 2%. i just wonder how much of it is going to go in and retake positions if you have sold any. maybe a

rotation somewhat bund into tech stocks nvidia and cisco with good reports. adobe, paren yale on the high list, also there repricing growth the fed is now a big margin mover now this will -- >> bob, on that note, only 2% -- it's also august, it was meant to be low volume, all seniored holding up. >> the believe is still is, it's not going to turn into an absolute rout. you would see more pressure even on the consumer staple names, the defensive names, and on tech, but you're not it's true about august august is characterized by low volume -- light volume, more acc accurately, and number two, spikes of volatility sudden moves you have in volatility and the market down, at least a couple time between mid august and mid september so far, in that sense, august has been very typically, wilf. >> i'll take it, bob a pretty defensive field let's focus in on within stock, a big mover, macy's surging on the back of earning form courtney has the details. >> hi there. yeah, macy's beat analyst d. and revenue expectations by $650 million, also issues a new forecast implie

seeing it in semis a huge fan of nvidia still think you it look there. a broad base, let's get into semis do the smh i like nvidia. the other part, reoperation. a rally, tell the ta turns over, semis acting a a cyclical name >> interesting point in terms of semis being true cyclical in the market it that's the case -- >> just shaping up something is coming up what we got? >> right now premium afforded to the companies with the growth. environment in which the company turned things are super-charge d et cetera, et cetera and wanted to be in cyclicals. does intel catch a different bid? how does that play out >> i think intel seemingly has more leverage to the economy and probably seen also as a longer-term play on strengths now especially in data center and things that would be month emblematic of enterprise growth. i like it. yeah i think more what we're talking about, how to trade the market a period of growth and reaching for reflation, seeing semiconductors underperform. >> i agree saw it before. right? semiconductors >> great irony, isn't it >> what?