[Music] investors are eagerly awaiting Nvidia earnings after the Bell tomorrow the chip maker blew away estimates in its last report we'll see if they can do the same here the stock sits up over 200 percent so far this year but as more growth still to come now finances Jared blickery he's joining us Live In Living Color from the floor of the New York Stock Exchange hey Jared hey just enjoying the Technicolor here got to talk about Nvidia is it encroaching on Tesla as one of the top stocks in the universe one of the big sentiment indicators Apple already in that group in Nvidia giving Tesla a run for its money just in terms of expectations uh bets and we're looking at the options Market 100 billion dollars has been placed so far on Nvidia in the options Market second only to Tesla this year and then you take a look at what's happened not only in the options Market but the underlying as well the last earnings report they were up 184 billion dollars in one day and I got a tweet here from Jim Bianco about how important Nvidia is becoming to the overall Market the S P 500 so you're saying yesterday the S P 500 was up seven tenths of one percent and then of that Nvidia was responsible for 34 or one-third Tesla was responsible for 19 or one-fifth and then the entire Magnificent Seven all those big Mega caps 94 and then the other 493 6 sense so arguably Nvidia just uh gangbusters here if I can go to the Wi-Fi interactive for a second I'll plot the year to date over the last two sessions uh we have really just climbed right back up to this consolidation highs here and if we get a gangbuster report tomorrow you can bet we're going to just surge above that and if not I wouldn't be surprised to see 400 back in play well interesting stuff um we are also uh Jared tracking China stocks which we're seeing a bounce back today what can you tell us there and how sort of significant is that well first of all stocks are bouncing back a little bit if we go to the if we go to the Wi-Fi interactive I will chart the Hang sen and over the last seven days uh this is actually overnight you can see we got this big spike here right after the lunch hour after Traders resumed trading uh that was largely unexplained but over the last seven days you can still see uh down almost seven percent in the bottom end of the range there I'm going to call this an oversold bounce I don't think this has a lot of significance for stock Traders but there's a lot of other things that are happening with respect to the Chinese economy and that are being done by the monetary authorities to stimulate invest to stimulate the property markets there and to stop what they perceive as a deflationary spiral now if I go to a chart of the Chinese Yuan we're going to see that it has actually been weakening quite a bit this is over the last three months and we are right back up to these highs the government fixed overnight the rate at 7.2 percent it's right back up to 7.3 percent that disparity where they're trying to take it a little bit stronger is a biggest since Bloomberg started covering this data in 2018. the point is uh the government cannot have a runaway U.N just weakening and weakening because that promotes Capital outflows they don't want to lose all their all the dollars in their currency so they're making it more expensive to bet against the U.N along with other measures but these are only piecemeal put together are they going to do the job we're going to have to see you guys yes we will thanks so much Jared
