above 78, but the rolling 30-day decline for crude oil is now about 9%, and that would make it the lowest or the biggest decline of the year so far feeding into some of the relief that we hope we're going to get or continue to get in goods. we will keep our eye as we await cisco tonight. ten points from 5300. let's get to the judge. carl, thanks so much. welcome to "the halftime report." i'm scott wapner. front and center this hour, record-setting stocks. we have new highs in the s&p, closing highs in the nasdaq as well. the dow is right there, too. the investment committee debating where the markets head next. joining me for the hour today, joe terranova, kari firestone, steve weiss will join us in just a moment as well. i do want to show you the markets because we're above the closing high on the s&p, on the nasdaq. the dow was there a moment ago, too. and we're basically sitting right there across the board. what an incredible morning it's been. our halftime headliner, too, big

news from one of our own. brian belski raised his s&p target to the highest on the street. it's good to see you. i should note you did this before the cpi report came out today. tell me why you've taken your target to 5600? the biggest of the bulls, that's what we're calling you now. >> well, thank you so much. we're humbled with that moniker. i'll just remind everyone that when we published our piece in november of last year, our base case was 5100 and our bull case was 5500. we became admittedly a little more cautious when the market was sideways in march and april, and we thought the correction would be deeper than 5% especially against historical norms. now i think it's too late. i think the market is going to correct from a higher level. there's no point in trying to time this. i think stocks go higher, and we will correct from a higher level.

it doesn't mean we're not going to get the weisman pullback or the belski pullback. i think we can add to positions at cheaper levels, scott. for now we see that dreaded word momentum continuing. and, oh, by the way, this kind of fits the historical pattern. if we have a very strong may and a very strong start to the month that may to august or september or end of the year even performance is quite bullish. we think that the markets head higher as people continue to reallocate. i think people aren't talking enough about that. reallocating back into stocks, and we're bullish. >> you're obviously bullish. do you -- do you believe that this story of, you know, rate cuts coming, the economy is strong enough, earnings good enough, consumer good enough, and that, by the way, is being hotly debated after that retail number, is what takes us to those levels if not beyond?

>> i do. let's take two steps back and really look at this objectively. remember, at the beginning of the year, people are looking for six or seven interest rate cuts and all of a sudden two or three and then there was talk a couple weeks ago of the fed raising. so fedfunds futures and the fed outlook in terms of the consensus by investors has been all over the place, scott. i would argue that the majority of the upside in the stock market has been due to good old-fashioned fundamentals and stocks outperforming especially considering what we've seen from the equal weighted s&p index. it's hard to argue against that. it's hard to argue against the broadening out. i do believe that the market gets a little kiss here from the fed talking about potentially easing a little bit earlier, but i think this is the final unwind, quite frankly, of stocks only go up if interest rates go down. the stock market proved that wrong, proved otherwise, the last couple of years. that's the true fundamental path

of the market. >> belski is not the only one who suggests it's time to be more bullish and believe in the broadening, too. i spoke to fundstrat yes's tom yesterday. >> i think stocks break out of this range. i mean, that's our bet that may ends up being a very strong month for stocks, even better than it's been already. >> that's tom lee from yesterday. brian, back to you in a minute. kari, what do you think? are these gentlemen correct? time to be more bullish? that's the question. >> the answer is you have to in this environment go with the momentum and the trend. we're looking at earnings that have completed basically a very strong season. nvidia is the big question mark, but we're assuming it's going to be very strong. we've had good numbers across the board. we've had guidance that was reasonable. it might be soft on the consumer side, but that's good in terms of the fed perhaps lowering rates because of it.

you have the numbers that people wanted today. i mean, i mentioned it in my comments. if the fed numbers -- if the fed saw that inflation was reasonable and it's contained and it's not really moving hotter than expected, that was going to be what the market wanted to hear today, and it gives everyone a reason to say, okay, we've been holding our breath. we'll buy some more stock. and it's not just buying the top names in technology, it's buying across the board, and we're seeing that -- you've seen a lot of positives in financials, and that should continue because of this. and industrials are doing better, and this is something that, with the tech trade still moving, you combine that and you have a better market. >> joe, what do you make of what belski's done here? you heard tom lee give his own reasonings. bmo going to the highest target of 5600 really on a day where we have new closing highs on the s&p. we had new closing highs on the nasdaq, and we're pretty much

going to be there for the dow if we can hang on to this level, maybe add more for the remainder of this day. >> sentiment and position as two indicators never let investors and traders down. when you look at sentiment, you heard so many people that said throughout the course of the second half of april into early may, well, 5%, was that enough? i'm not so sure that was a normal correction. we need a little bit more. >> well, because it wasn't a normal correction. that's the thing, right? you didn't get what some would suggest is your typical flush. >> why you didn't get that is because the ekoe >> why you didn't get that is because the eco data is between a soft and a hard landing. it's the firm landing. it's the right landing that gives the federal reserve the reason to move monetary policy and because of the advancement of innovation surrounding artificial intelligence and generative a.i. and it speaks to the resiliency of the market. and i believe that what we have

witnessed since the beginning of may, since the beginning of may, which has been counter to what the traditional trend is in the month of may, is a rebuilding of positions. yes, we broke out to new highs and this morning the core cpi and the cpi itself coming in cooler than expected. it's contributing to further appreciation in the market, but this was building -- it was building over the last several days. no one should be surprised. >> but you needed the inflation data to come in where the fed chair himself yesterday said it was mixed. he wouldn't go and say it was hot. he had every opportunity to say it was hotter than expected. he didn't. he said it was mixed. and then there was really a tell that the cpi was going to come in well, which it has, and there are factors within both the cpi and the ppi which leads you to believe the pce, which matters most of all, is cooperating as well and the next read of that is going to be in the bulls'

favor, too. we don't get here without any of that. >> okay. we don't get here without any of that, but the price action yesterday was remarkable. it was remarkably resilient. i was watching it yesterday saying to myself, tomorrow's inflation report, the market is going to get -- the market is telling you that. it's speaking to you 24 hours prior. so, look, brian is spot on, tom is spot on. they've both been spot on for the entirety of this bull market recovery since the fall of 2022, and i just urge investors and viewers to stay committed. this is a bull market we're in the middle of it. >> hang on real quick, kari. it sticks out -- i'll get to you in a second. what sticks out to me, too, brian, your sector ratings don't change at all. you're overweight financials. you're overweight technology. you're market weight com services i find that interesting. we can discuss. health care, industrials, real estate, utilities, you're market weight as well and underweight

staples, energy and materials. but why no changes to your sector ratings? >> it's a great question. we're sticking to tech for growth and financials for value. financials today are doing very well. we think financials ultimately the second half of the year can, will, and should be the earnings surprise to the upside. our tech call has been resolute. we've been long term tech bulls for several years. as we have been last year. we just took a little off the table there in terms of the big move. we think the themes of cash, consolidation and content are playing out right now before our very eyes with the streaming the last couple of weeks. we try to change stocks at the end of the month to limit turnover. that will be no different this time around. we see no reason to change any sectors at this point especially

given where earnings and fundamentals are in technology and financials in particular. >> i understand that but if you are -- we can't have a good economy -- we need a good economy to get to your target. we need it to hold up. the global economy maybe looks a little bit better than it has. we figure we'll get rate cuts. what about this underweight materials call? that stands out to me, too. >> yeah, so thanks for pointing that out. we're long goal in our canadian accounts, and we were down and right back up again. i think it will be more difficult for some of the chemical companies andpaper companies that became a little bit more expensive to make money. materials are 3% of the market. staples are amongst the most expensive areas of the market. we love costco and walmart, our two biggest positions.

from a stock perspective, very different and have different opinions relative to the overall sector. energy has bitten us a little bit. we're talking about a 3% sector. we would rather go where the fundamentals are, and we think we'll get a better buying opportunity, i think, upon a pullback if and when the market pulls back, that's when we will be opportunistic with respect to putting on more sector exposure. >> it's been a nice, broad move from the april lows. tech has had a quality rebound that it's up 11.5%, leading the way. utilities, 10.5% from the april lows, the close on april 19th. real estate up 8%. com services 5. health care is 5. speaking of health care, joe, you bought amgen and merck, and you did those personally. remember, you don't buy things for the etf or sell them until it's a rebalance time, so this is a personal move here which says a lot in it and of itself. amgen and merck. why? >> you add further exposure in

what is a bull market and you're looking within your portfolio and saying to yourself where, in fact, can i add that exposure? health care going back to sentiment and positioning, it could be rebuilt higher. i also think that what we're witnessing in some of the consumer oriented names, like mcdonald's, like starbucks, like home depot, those investors are going to be moving into health care oriented names looking for a little bit of the bond proxy, which the bond proxy is back today, and also a little bit more of a defensive structure. now understand health care overall had difficult numbers because of covid. now working away from those come ms and the two names that i bought early this morng, believe are best in breed. merck clearly is a name i've owned for years in the past, moved away from. and in the case of amgen, this

is large tech, bioexposure. go back to sentiment. it's remarkable. only 54% of the analyst community have buy ratings. the price is $317 today. and that's what the analyst target is. i think the health care sector will benefit most as we move through 2024 because of a slowdown related to the consumer and also wanting more exposure based on the broadening out theme. >> well, i think that amgen and merck are two of the best names to pick. we don't own them. >> why not? >> we're looking at a lot of health care names because we haven't had enough of them, but that's been the right move. i think if there's a broadening of the move higher in health care, but they have underperformed. >> somebody who has, you know, quote, unquote, made their living in this space and is as

well known as you are and as successful as you've been and they don't own stocks in this sector, to me that says everything. that says everything. >> okay. we own other names. we do own united health and thermofisher -- >> regeneron? >> we don't own them now. >> you know what i mean, too. >> correct. >> you are underweight that space by a lot. >> yes. but i will tell you, and i'm just going to support the amgen and the merck purchase, merck has a drug -- they have many in development -- but with moderna, in order to extend, with moderna they can extent the patent life by having a vaccine for melanoma in the treatment. up to 50%. i think that could be a really

interesting idea and with amgen they have a glp-1 for obese pi that potentially does not have to be taken forever. that could be a very good early data and a strong name. >> i like to keep reminding people -- because i don't take for granted and assume that everybody knows everything about what everybody on the committee has done -- you ran the health care and biotech fund at fidelity. >> for years i did. yes, that's right. >> that's why i sort of hold you at a higher level when we talk about these kinds of stocks. you know more about them than most people do, and it screams out to me when you don't own a lot of them or are underweight the sector. >> but let's be real. last year we had two things that happened. we knew that pricing was a concern and that the administration was going to start to put together names on which they could have price controls and that affected the sector. it was not a good sector last

year. and the services have dealt with all of the diet drugs and the payment of them for the first few months of the year. now i think that's in the rear-view mirror. >> my question to you is, do you not see the setting, the environment as one that is beginning to improve and, therefore, you could kind of reawakened some of the bullish spirits which have been missing in the sector? >> correct. >> they are best in breed. the etf owns three other names, rege regeneron, edwards life sciences and you need more exposure. the setting is right for those to come back. >> let's talk more about what's been happening in utilities, which has been one of the best performing sectors by far. it's more than double the gains of the second best sector and that being real estate. i mentioned, brian, you have at market weight -- i feel like everybody is talking about this space right now.

i feel like our viewers are probably thinking about whether it's too late to get in, whether the, you know, perception that these are the next a.i. plays is a load of beans, and if it's going to end badly, so many people are talking about it. goldman sachs, family office, here the other day. daniel loeb takes a new position in vistra recently and says, quote, after our investment the market started to focus on two trends we think will have profoundly positive impacts on vistra value. incre increased intermittent generation and an inflection in power demand from ai/data points and evs. you have very smart people surrounded by some very smart money all in on this trade. do you believe in that? >> there may be some -- where there's smoke, there may be fire

there. i worry about jumping on the a.i. train after this big move. remember, utilities were amongst the worst performing sectors last year. there's a big reason for that because debt-to-equity ratios are off the chart meaning high and free cash flow for the sector was decelerating. what's really interesting is that the fundamental picture of utilities, it was beginning to improve late in the fourth quarter. that's why we moved to more of a neutral. we were underweight last year. and traditionally we don't like utilities, but there are some better growth aspects. we've owned next era in our portfolio since 2020. it's one of those names that have beth sides of the coin, renewables and the regulated side. i think the regulated side for dividend investors, remember, when you're a dividend investor, you want to focus on dividend growth. utilities in the united states at least provide you with the stronger yield component, not so much the growth component of the income. but we're watching this whole a.i. thing in terms of there's really some real smoke there.

>> there obviously is. i think the question -- the better question becomes whether it's a lot of it is in the stocks. in a bull market, utilities don't generally move, especially where rates have been a bit elevated, utilities don't generally lead the way, right? so that's, to me, the most actionable part of this discussion. >> correct. correct. you're spot on. and that's why from -- be if i'm buying utilities for a.i., i would rather buy traditional tech or communication services for a.i., not play a.i. through utilities. >> right, but those valuations are richer. that's the whole point. >> yeah, but -- no, hold on a second. if you take a look at still -- even though cash flow and debt to equity ratios have improved, which is what you should be looking at when you're making a longer term investment especially in utilities, they've improved, they're nowhere near

the prowess of technology and communication services. and then you talk earnings growth as well. and so we like the regulated side of utilities because i think there's a real business. and, you know, if we're late to the utilities on a.i., then we're late to a 3% ector. i'm not going to worry about that. i would rather get tech and communication services right. >> i've got you. steve weiss has sat down. i think he's all checked in. as we say in the business. i'm glad you're here before the end of the first segment because we're talking about this incredible record run we've been on, what places we should be. you bought more caterpillar so you're sort of playing this broadening market. >> the focus is on the cut in rates whenever it happens, whether it's this year, whether it's early next year. so march will broaden out. cat is still inexpensive, particularly relative to the

market, relative to other areas. so i have huge tech exposure in the mega caps. that's still the place to be. they will still perform. i want to get exposure. i thought it was prudent to add to that. it's still not a top position but i think it's a good place to be right now. >> a very important position for us. $175 billion market cap. it's obviously the largest industrial that we own in the etf, but i think what's so compelling about owning caterpillar is this is how you're able to play in the global story, in the global economic recovery that's going on. >> and onshoring. don't forget the onshoring. >> 44% of revenue coming outside of there. the pvoc is probably going to

cut rates. this is a great way to get global exposure and, let's remember what we see with the value of the u.s. dollar continuing to decline on the expectation the rate cut is coming. >> we're going to leave it there. brian, thanks for joining us. i appreciate you going into detail for our viewers on why you raised your s&p target to the highest on the street, 5600. we'll see you soon. >> thank you. brian belski. the payment space, we've been doing these streaking stocks this week. visa/mastercard up seven, eight days. kate rooney is standing by. we have an exclusiventvi ierew with visa's ceo.

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that's like $20 a month per unlimited line... i don't want to miss that. that's amazing doc. mobile savings are calling. visit xfinitymobile.com to learn more. doc? back on "the half." the payment players have been on a hot streak of late. both visa and mastercard up eight out of the past ten trading sessions holding the forum today out in san francisco where our kate rooney is standing by for an exclusive interview with the ceo. scott, thanks so much. ryan mcinerney, visa's ceo, thank you for having us at the visa payments forum. it's great to be here. >> thanks for being at the visa payment forum. >> some of the numbers showing inflation coming down a bit, cooling in april.

does that jive with where you sit? >> trying to figure out where things go from here. we can contribute to what we see in actual spending growth and look at our second quarter results, spending growth grew 8% year over year, in the u.s. about 6%, and that's consistent with what we've seen for quarters now. we see a lot of resiliency in terms of spending. >> the repeat of resilient, is there anything the fed is not seeing. >> i think everybody is looking for pockets of weakness. what we're seeing is consistent resilient stability in terms of what we're seeing in spending. if you see different levels of spending on our network, stable growth for many quarters, how people are spending, whether it's on debit cards or credit cards or where they're spending,

stability, resilience. >> is that true for all ends of the consumer, high end, low end? you're not seeing that bifurcation with low-end consumers and more credit card delinquencies? >> some higher end consumers spend more, some spend less. >> how has inflation played into that? also weighing on the consumer. >> we look at the average amount, that hasn't moved much in recent quarters. we've seen stability there which i think is a good thing. >> there's only five or so countries where you're not available. what are you seeing in other pockets, asia, for example, a little bit of weakness there. >> growth was 11%.

strong spending growth. i did talk on our earnings call about some pockets of weakness that we've seen in asia, some deceleration in spending growth. and you have some ups and downs in different markets but, again, stability and strong growth at 11% year over year. >> you were talking about generative a.i. and really across wall street, what is the impact in payments? you talked about fraud. give us your view on gen a.i.? >> we've adopted it into everything we're doing in our company, to run our company proper productive but to innovate the ecosystem, to deliver new types of shopping and buying experiences and i'm a believer as you look forward generative a.i. will make shopping easier, better, will help us optimize payments.

>> gen-z how visa has to keep up its branding. how do you keep up with a gen z audience? >> gen-z is digitally native. things that are newer, they are normal, they're on these plat platforms. we have to build our brand there, be relevant, authentic. we've been retooling our brand to do that. >> and quick last question, users are using installments more. >> the buy now pay later, visa cards and enabling their users to pay with installments using a visa card. we view it as an opportunity. >> affirm is not a threat to you. >> it's been a great partner and

opportunity for us. >> we'll have to leave it there. thanks for your time. scott, we'll send it back over to you. >> good stuff, kate, thanks. that's kate rooney. you own visa. that was optimistic relative to the consumer. >> the consumer may not be as strong as the consumer had been. but stronger than the weakness the bears had expected and visa is a leader, the best in technology and the travel business is helping with the international payments. the stock is off of its high, so these gains after the stock fell a month ago and has been coming back to the high. >> visa's flat but, again, a spin on this recovery streak.

>> it has. it is going to underperform other financials and services names. >> it's been that for the last several years while we've seen the struggles of banks and regional banks and asset managers. >> i think it's a growth stock. >> absolutely. mid teens revenue growth because you couldn't find it anywhere else. just set the expectation. you might see relative underperformance. >> how much of their -- of the growth that he sees -- he doesn't break it out. consumers who are stretched building their balances, their credit limits and spending where they would otherwise spendon

maybe using other credit items. how the consumer is weakening in the other places, so they could be a beneficiary of a weakening consumer, right? >> you've got to take the risk. >> i'm saying it's a benefit for them actually. we have our "calls of the day." we'll have the trades, the debates. we are above a closing high still. s&p and nasdaq and the dow is about, oh, ten points away or so. 15 points. back after this.

♪ welcome back to "halftime." i'm seema mody. in a wide-ranging interview this morning israeli prime minister benjamin netanyahu sat down with

our own sara eisen where he acknowledged tensions with the u.s. over how israel is pruipruitt i prosecuting the war and says three things need to happen for israel to win. >> one, sustained militarization. and that, i think, can only be done by israel intervening when it can when it sees another terrorist resurgence. the second thing you need is a civilian administration that is not hamas and not beholden to the destruction of israel. that can be done with the assistance of the arab community. and reconstruction can be done with the help of important players in the international community, but you've got to have -- you've got to clear gaza of hamas. you can't have a future for gazans, for the palestinians in gaza or future for israel or future for a broader middle east peace if hamas emerges victorious. >> you can see sara's entire interview with prime minister netanyahu tonight at 8:00 p.m. eastern on cnbc.

scott, back to you. >> seema, appreciate that. thank you. seema mody. we want to flag apple shares for you trading above $190 for the first time since february 7. it's been a minute. and, joe, this was six weeks ago. everything was gone, you bounced it in the momentum. >> i didn't bounce it, the rules bounced it. >> he did it. >> exactly. i'm serious. what's up with this momentum? >> the stock is going higher, higher on a rebuilding of position. it's going higher on the simple fact that tim cook and the executive management team punished the investors who believe this stock was going to

experience significant underperformance for the entirety of the year with the capital allocation strategy. and what that did was it bought the company time to get to the moment where we began to understand and kind of move away from the uncertainty surrounding what the a.i. strategy ultimately is going to be for the company. i think we're get to go that moment and in june will learn a lot more about how powerful that a.i. strategy can be to all of us. >> apple, by the way, as it hits the highs of the day is helping the dow as well, which is now above, once again, its all-time closing high. so we could set a new record there, too, thank you, apple, for taking us through that last mile. >> and china is helping. >> joe is right, though. i thought he articulated that very well. they reminded all of those who forgot the power behind why shares can continue to hold up even in the face of some

fundamental challenges, and that is a buyback that is larger than anybody else's that has been an engine. whatever it is, okay, the stock has rallied back hard. you dumped on it a lot. you just bought it. >> i bought it as a trade. the buyback from a dollar amount is larger than anybody's. it's just not. it's sort of the average, buying back 20, 25% in the stock. this is a relatively small buyback. the experience of the last couple of years, typically on cycles it used to be -- not the last couple because the jig was up -- but it trades up in advance of refresh which happens

in september. it's starting earlier this year because of what they're going to announce or believe they will announce. i bought it as a pure momentum trade. >> if you believe that the worst is behind this company, the earnings growth, the revenue declines, all of that has troughed -- >> china. >> -- then that would theoretically set up well. >> absolutely. >> there's another side of the equation. the other side of the equation, the worst may be over, but is the best yet to come? and i don't believe it is. >> why does it have to be the best yet to come? >> because the valuation relative to their growth rate is way out of line, so the question is where can you -- i don't have to own apple. i don't benchmark to an index. and even those who do benchmark to an index.

>> if they have what they obviously hope and the bulls would suggest could be the most powerful refresh cycle in five years, is that not what lies ahead? >> for momentum. >> it's been a trade to sell in the news but it's been a sell in the news because everybody is doing what i'm doing. so you have to get in earlier and take advantage of it. apple may perform, but i still believe that meta, microsoft, amazon, et cetera, are going to do better. taiwan semi are going to do better than apple. >> that doesn't mean that you can't own another stock that can outperform the market. >> we're not debating that. we're not debating that. >> why can't it be very sim

similar -- apple delivered in the iphone 6 the larger screen. that is the most successful iphone to ever sell. why can't iphone 16 be that with a.i.? >> i'll answer that because, number one, it's different with the app store now. the other parts of the company are not the same. the point is you're reaching far back to the iphone 6, the company was growing like a monster then. here it's been flat for a couple of years. i think then it reverts ba.ck >> santoli is next with his "midday word." this is our future, ma.

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we are back. our senior markets commentator mike santoli is here with his midday word. i love these segments because i feel like you deliver insights that not everybody is always thinking about. >> ramp the pressure. >> that's what i do. that's what i do. now it's on you. seriously, what stands out to you about all of this leading to today? >> for one thing, the making of a new high in the s&p 500, aside from everything else, a new breakout, it kind of wipes away the possibility that we were going to relive last summer. if you remember coming into this week, you had the peak in june, a cute little 5% pullback, a big rally off of that, but you never did get to the new high again. 10% correction off of which we've run since october. that's net good news. you see people reaching right back for old leadership today. the a.i.-related stocks, that whole basket is up a percent and

a half, double what the index is doing. you're sort of saying the calm on the macro front, be mindful of how strong economic growth is because you have the consumer stuff that looks mixed and so it feels like going back to it. there's been an eclectic group of sectors in this interim where the overall market was in this pullback. >> week to date, now clearly we're only in the middle of the week, you look at things like technology, to your point the tried and true. up as a sector on the week. >> it still the high. it equals a.i., what we buy and they're the biggest and most expensive. >> you lived up to the hype.

i'll see you on "closing bell." coming up, we have an interesting "call of the day." one rmfi saying don't fear the strength, urging you to buy it. we'll tell you what it is next.

all right. welcome back. this call of the day, copper explosive, don't fear the strength. near-term momentum by mean reveerting, but the breakout looks secular and we use any weakness to accumulate the equities. they're talking about fryport. do you still own it? >> don't own freeport any more. >> why not? copper is up more than 25% on the year. did you have more optimism about the global economy, china

obviously improvement there? >> commodities are a trade, and when everybody is going one way, it's time to go the other way, because we still haven't hit $2 hill oil, which has been forecast for every cycle. >> you didn't need $200 oil for energy stocks to work. >> no, you don't, but energy stocks -- the big ones are where they were ten years ago. so you could have made money trading in the interim. but it's very difficult. look, i just think there's too much speculation in all the commodities. they're impossible to analyze. so that's why i tend to fade them when they tried higher. >> copper futures market, you have a significant increase in volume which lines up what you haven't experienced in several years. there's a short squeeze that's going on in the copper market as well right now. but that doesn't remove the fundamental, the strong fundamental that in prioritizing

decarbonization, and with artificial intelligence and talking about the need to create electric power, copper is a critical component of all of that. >> yeah. all right. "final trades" are next. just wanted to check.

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high pope you'll join me fo "closing bell" at 3:00 eastern time. cameron dawson with josh brown onset. we'll see where we close. we have new closing highs across the board. steven weiss? better late than never, thanks for joining us today. >> my pleasure. >> your final trade? >> bellski planned it, so i couldn't compete with him. meta still has some catching up to do. the stock was over $500 before they announced the earnings, it's got more than halfway there. i still think it goes. >> thank you for that. >> kerry firestone? >> i'm going to pick american tower. the cell tower business is strong. another positive and it's crossing its 50-day moving average. >> joe snmplt >> strong breakout in the home

builders? lennar is at an all-time high. >> apple is the first time above $190 since february 7th. that's where that stock sits. it's helping the dow to a new closing high. we'll see how it plays out over the final hour when i see you at 3:00 eastern time. "the exchange" begins right now. ♪ ♪ >> thank you very much, scott. welcome to "the exchange." i'm kelly evans. here's what's ahead on what's shaping up to be a banner day for the market. stocks are surging and yields are lower after the inflation report cooled. the ten-year dropping back to 4.3, touching its lowest level since april 5th. our economist nailed the print and said may's number could show more relief. he'll tell us what that means for the markets and the fed's next move. the lower yields are boosting home builders as we just heard, vis-a-vie lennar. but there are signs demand