qualify to sell your policy. don't cancel or let your policy lapse without finding out what it's worth. visit coventrydirect.com to find out if your policy qualifies. or call the number on your screen. coventry direct, redefining insurance. welcome to "power lunch." alongside kelly evans, i'm jon fortt. stocks are near session highs. s&p 500 and nasdaq once again touching all-time highs. both averages on pace for their seventh straight day of gains. >> walmart is slightly higher,

while target is heading lower today. we'll talk to an annual about this. and a long list of ai chip-related topics. let's start with the latest numbers from taiwan semis. >> up 33% year over year. , as a demand premains strong, so strong that brady wang expect it to raise prices on the advanced 3 nanometer topic, no doubt when they, and one of the biggest cusses, nvidia close to hitting another record high, out of software, into semis, and followed although price high.

panelists there talking about their use of the nvidia h-1, their price target is 150. it also follows a report that venture capitalist andreessen horowitz is buying thousands of the chips, leasing them out to startups in exchange for equity. a look at nvidia as 134 and change, guys. >> seema, the semiconductor trade had been a bit choppy, but a strong start to the week. even intel had a particular strong start. i guess, the question is, whether that be sustainable? >> for sure. i think there's been a flurry of price target raises at a time when we're also seeing money out of software stocks, certainly interesting as well. >> seema, thanks very much.

seema mody. a any problem is emerging, they don't have enough people trained to work in them. emily? >> congress made the big purr to have more semiconductor facilities in the u.s., now they want to make sure there are enough american workers to run these facilities. so a new bipartisan bill just introduced today would spend more than $11 billion on ensure the jobs are filled. most of the funding will go to the national me conductor technology center used for research and development, but it creates a $200 million grant program, using the funds allocated in that chips law, to allow industries, community colleges, programs to expand microelectronics programs. senator kelly, one of sponsors,

said there is a lot of demand for the jobs right now, and a lot of need for said jobs, but not enough training. >> we've been to expand the middle of the pipe. we've got people that want to get in there, the demand is on the other side. there's a bottleneck in the middle, and that's the training. an estimated 67,000 jobs risk going unfilled by 2030. that group is backing the bill. the measure could be included on one of the largest must-pass bills that congress is wok working to piece together. >> i mean, it's pretty impressive to hear. we spoke with the ceo of wid many hotels last hour, and they're see a boom in travel, and he says a lot of these

projects haven't even started, but hotel developers are building ahead of them. >> there's absolutely an awareness for the need that's going to be coming. a lot of these facilities are just planned, a lot of them are under construction. a lot of folks are looking down the road several years saying, here's what we have now, here is what we're going to need, and of course, they want to make sure these are american job senator kellie said these these are good paying jobs, a job you can sustain a family on. inches emily, thank you. deirdre bosa has today's "tech

check" today. >> they're amazing tens of thousands to gain an edge in dealmaking. the idea here is andreessen can off action, because of gpu access can be harder to secure that is cash, and founders need compute power. most critically in that building. it is likely the most aggressive gpu from a vc firm, it is also essentially how the megacaps have been building stays like openai and anthropic rather than investing all cash. amazon, microsoft, google have been investing by allowing access to their infrastructure through credits. they get double credits. they get revenue back in the

door through businesses. for funds like andreessen, though, there's more risk involve. they're spending hundreds of millions, and they have offering them to start-up at the beginning stage. chip prices have come down very quickly. it's a cyclical industry, leading to gluts that happen quickly. if that happens because, say, amd or the megacaps themselves develop alternatives, vcs could be stuck with stockbiles that are less valuable. >> these are one of the least risky things that vcs do. they're going for like one in a thousand shots like this, and they're looking for deal flow, a bit of edge to get them attention from the promising founder who's looking for an investor, right? >> and the founder, they need

that compute power, and gpus are difficult to security. that's why the megacaps are buying so many. if you buy in bulk, maybe you can get more, but still risky, right? if we do see prices decrease, that these gpus aren't as valuable as they were, they are hold on to leases potentially, renting the space out to startups that don't need it as much, or they may have gone butt or found alternatives. >> i think this is fascinating, what does it tell us about the power of the chip in silicon valley or the unique any of ai, but this is one of the most extraordinary stories. they're buys they massive pieces of technology. it's quite a departure. >> such a good question. the space is incredibly competitive.

years ago, in 2020, 2021, when we saw the tiger globals and the softbanks come in with billion of dollars, they had to convince founders to take their money, in generative ai, the space is so hot, you need to offer gpu access in off to get in on terms she's. there may be a bubble billing. >> deirdre, thank you very much, deirdre bosa. turning more to a group we've been working here closely on "power lunch," anjelica has the details. >> "wall street journal" just not reporting that the ftc is preparing to sue the three largest farm we managers over insulin prices.

they companies manage prescription benefits, and the finding was published yesterday into the investigation. "wall street journal" citing a person familiar with the matter saying the suits will be in regarding to rebates with these pharmaceutical manufacturers. the rebates are discounts essentially that the pbms negotiate with drug makers. the ftc saying yesterday these pbms steer people towards drugs that might be more expensive and pbms drive up costs. the companies in question deny the allegations, but we're going to stay on top of it and keep you up-to-date. >> thank you, anjelica. coming up, it's the chatbot boom. every companies seems to be some form, but they're not all created earthquake. who has the best of the bots?

we'll discuss with some industry tus.erun" hen "pow lch rern

welcome back to "power lunch." from online retailers to search engines to your personal banking app, chatbots seem to be everywhere offering users help. in fact, more than two thirds of u.s. companies have invested in chatbots, with many more interested in implementing. a study found that users don't actually like them. david troge, one of the members who conducted the research, a

anda's, bank of america's bot. >> this depends, whether a chat did the bot is good or not, who interargument. lately it's a customer service person either in store or in a call center who's getting smarter off a chatbot and the customer never has to interact. what is the difference in outcomes there? >> you're right. it tends to be safer, because they can kind of run interference. if the bot goes in the wrong direction, they can mitigate that. other than the, what they want to do is take the agents out of the picture and have customers interact directly. if you do that successfully, it

can be very successful. i'm seen erica pop up, never used it. it feels like it's not helpful, but it's unaccountable, i can't follow up with a chatbot if there's a problem, and that annoys me. i want companies in for me with the long haul if the problem doesn't go away with the first fix. >> john, the way we think about it is erica is just one people of our high-tech/high-touch strategy. when you do need help, we want to make it easy. you can go in, customers are asking really easy questions at times, what is my account number? or help me pay a bill. other times it's coming proactively, and giving information about spending patterns, things like that. for us, it's proven out.

we have over 2 billion client interactions, and 42 million customers are using erica. when you think about it as part of a continuum, if you can't get your answer right there, exactly to your point, we want to make it easy to get you help. it can help authenticate our clients and give them to a live chat agent or the right associate via phone. so making it quicker to channel them to the help they need. >> david, are chatbots the past or the future? how will ai make it better? >> well, a lot of the chatbots out there that have been rolling out, do have some ai in them. the big change right now is generative ai is make headlines, of course, much more fluent in terms of, you know, interacting in language that make more sense

than that additional chat bots. >> we're really at an inflection point where they're experiment, but it's a risky thing to be doing right now, but it's absolutely the future. we're very bullish about the future of chatbots, but we're really at the beginning. a lot of people are dissatisfied, and it's understandable, a lot of them are not that great. we're at the first or second floor of a 00-story skyscraper. generative ai will make that much, much better eventually, but there are risks. >> nikki, how do you see efforts from companies like meta, and apple, trying to get these general messengers into the stream, small and large businesses, you have to that kind of chatbot interaction with customers? sup something you don't want to

do? you want to own the customer experience? or do you see it as a way to potential expand your customer base? >> in terms of the way that our customers interact with erica today, erica is part of our overall digital platform, and the servicing continuum. i think also in terms of the general nature of the equation, we are very specific. our goal with erica is to help our clients make their financial lives better. so, as long as we stick to those guardrails, we're able to be very specific about the kinds of answers erica can provide, and take the time to focus on uses advanced technology to understand what clients are asking about, and not specific answers. i have gave the exampling around routing numbers, recurring subscriptions. that's where our focus is. >> sounds like b of a has an

exclusive chatbot relationship with erica. [ laughter ] >> thank you both. >> my pleasure. s&p 500 up today. we'll get a check on the xomants. carmax on the plus side, saying moderating used car prices will continue to be a boon. deckers, maker are footwear with a cautious note. shares are down 5.5%. we'll be right back.

- [narrator] we just signed the lease on our third shop. my assistant went to customink.com to get new uniforms with all the locations. he found great products, uploaded new art, and had boxes sent to all the shops. custom ink makes it so easy. get started today at customink.com. [♪♪] your skin is ever-changing, take care of it with gold bond's healing formulations of 7 moisturizers and 3 vitamins.

for all your skins, gold bond. stocks are still near session highs. you can see there the s&p up about 0.7%, the dow up about 0.5%, which translates into a little over 200 points. nasdaq up limb a whole percent. shares of intuit are down, down about 3%, the ceo today announce ago 10% cut to the workforce.

he says the cut isn't about reducing costs, but spending differently in the ai era. the cut will actually higher about 1800 new people in engineering product and go to market goals. i asked them about a month and a half ago how he would be looking at the workforce differently. >> i'll give you three examples, areas we're looking at. though we'll be adding to engineering, our engineering are actually far more productive now with all of the ai capabilities. we'll be shifting engineering off the certainly work where -- another area is our investments we have made with ai across off customer success operations. we're able to have ai do more of the work and reduce the manual entry for our customer succeed, so we'll do more with less

investments. the other is just content generation. that others would have to manually write. so those are air where based on investments, we'll move the dollars. >> this is qualitative, kelly, but to me this is the other side of the job openings and labor turnovers. remember the great resignation? now some people are staying longer than companies want, and as they seek to investment difficultly, they're looking to lay off while hiring. >> is it too much of a stretch to say this is a direct consequence of ai and the tools it's now providing? >> it's not too much of a stretch to say that, but i will say also that this tends to happen with big technological shifts. companies, part of a ceo's job is to be paranoid, am i out of position? do i have the right people to deal with this shift? and how quickly can i churn my

workforce over to purchase the right talent without spending a lot more money. >> you he talked about adding 1800 jobs. are the shares down because they're cutting, or they're adding more expensive roles? jon, thanks very much, intuit down 3% today. let's turn to the bond market today after day two, rick santelli what do you make of the testimony? >> there wasn't much volatility based on the chairman today or really yesterday. as a matter of fact, let's go back to last friday, the day after the closure for the fourth of july. look at ten-year note yields. boy, they hunkered down. they're compressing, consolidating, in front of the inflation data, and if you look at a two-year, very similar, so tens finding support levels.

twos finding sports over the last several sessions. now, when you consider that equities are all green in front of inflation data and treasuries are basically hovering close on change, it's pretty interesting. there doesn't seem to be a lot of fear in the terms of a hot inflation number. in fact some of the that partying going on in equities is partly due to the notions if you -- they're certainly moving higher in terms of possibility of rate cuts. finally, if you look toward the foreign exchange part of the equation, the yen continues to be weak. if you look year to day at the dollar/yen, the biggest weighting is euro. having said that, the dollar is up almost 15% against the yen since the end of last year. that is a staggering percentage.

it really underscores that spot economy has weak currency, and at some point they'll have to most likely put pressure on rates to the up side. jon fortt, back to you. rick santelli, thank you. over to contessa brewer. she has a news update. george clooney is joining calls for president joe biden to drop out of the race over concerns over his age. just weeks after co-hosting a multi-million dollar fund-raiser for the president, he wrote the joe biden he was with last month was not the joe biden he knew in 2020. police have arrested a man wanted in a crossbow attack that killed the wife and daughter of a bbc commentator. the officers found the three victims, all died at the scene. they think the man was known to the three women, but they have not released other details.

alexandria ocasio cortez introduced articles of impeachment against two supreme court justices, posing a threat to the american rupe of law. >> the articles, however are extremely unlikely to get out of the gop-controlled chamber. jon, back to you. still ahead, battle of the big box chains. piper sandler is bullish on one retail giant and not so much the other. we'll talk to the analyst hi oscalls, when "power lunch" rurges. returns.

with absorbine pro, pain won't hold you back from your passions. it's the only solution with two max-strength anesthetics to deliver the strongest numbing pain relief available. so, do your thing like a pro, pain-free. absorbine pro. welcome back to "power lunch." we're talking retail haves and have-nots. piper sandler assuming coverage on target with a neutral, while overyacht on walmart, saying it's in the early stages of sustainable growth.

peter, are you new on the target beat, so to speak? >> i am. i grew up in minnesota, but it's my first time covering a minnesota-based company in target. >> that's funny. what made you call it a neutral, which i think was a break. >> the value way is fair. they've had a tough go at it the last two years, so, it's kind of intriguing, but we just couldn't find that strong accelerant to earnings growth. even if we look out at 2025, they're a business disproportionately exposed to tariffs, and the ceo has done a terrific job, very likely to go through a succession plan sometime in 2025. that's a coming change that presents some uncertainty. i feel like with walmart, the question is always why.

is it a consumer slow down? is it a story of advertising growth and accelerating profit opportunities in those areas? what do you think is the catalyst? >> no doubt they're very well positioned. they're taking a lot of market share, even attracting some consumers with store remodels. i think that we focused on, however, they are becoming more of a technology company, and they have developed five really intriguing new revenue streams that are exceptionally high margin. in many ways they're comparable to what amazon does -- so we think these revenue drivers are real acsell rants to its growth outlook. >> most often when a company like target is going through one of these tough periods, when people think, they're really not

great, people overestimate the weaknesses. could that be happening here? >> that could be happening. they are,' peter mentioned, looking for the growth accelerant, but for so long, they were known for the tar-jay magic, but if they come with some fresh lines for back to school and the hole say season, their outlook could change quickly. >> i they about helen of troy, and those areas where they operate are very much of dough target stuff. could this negative story by bottoming? >> they are behind walmart radios remodels stores, but launched a private brand, and it looks like a lot look target's. so it needs to come up with reasons to drive foot and website traffic. that hasn't been happening as

consistently. >> peter, what would you say about the rest of your coverage space. >> well, certainly there's some signs of consumer slowing, but what we think is happening you've had this wallet share shift that's been pretty dramatic. 2020 and 2021 was on goods, and 2023, everyone went out to restaurants and travel. so i think there's a normalization that's happening, where you're seeing some slowdown in some of the service-related spend. >> absolutely. it will be an interesting period of time in the months to come. people been, peter keith. melissa, you got a glitzi glimpse. walmart is turning to robotics to get grocery to stores and customers fastest. the retailer said it would open five automated distribution centers, so far there's two in

california and in texas. i visited the new facility near dallas. chilled items travels on conveyor belts, then similar to a real-lie jenga game putting items like eggs that are fragile at the top. i was told it will help walmart keep up. he said they have twice as much storage and can handle two times the story. this is all part of a broad ought mace push. >> this is scary if you're looking at the economy in the mids west, and what a walmart distribution center can do for an entire county or entire network of counties. how many people did you see? >> not that many. they have a completely different

role. dave guggini, who oversees walmart's supply chain, in the past they relied on industrial athletes, people who walked multiple miles of day, and switching to people with more tech jobs, dealing with a tablet, over machinery. machinery are doing a lot of the work. >> industrial athletes, that's an expression to coin melissa. thank you very much. >> thank you. shares are sinking after google reportedly gave up interest in bidding for the company. deirdre is back on the phone. >> that's right, there was a google report that alphabet has abandoned plans to purchase the store. we reached out, but haven't heard back yet. potential acquisition talks, they started around april,

confirmed later by cnbc. this would have been google's acquisition ever, boosting its ability to compete against microsoft in cloud-based applications to customers. i would note though, jon and kelly, the stock has seen a huge rise on those speculation that google could acquire hubspot. now we have this report that google has abandoned the plans. back to you. >> deirdre, thank you very much. coming up, the value of live sports. we'll head to sun valley to hear from one of the biggest players in the landscape about streaming rights, paris olympics, and so much more. "power lunch" is back in a moment. (man 1) can you hear me now?

can you hear me now? can you hear me now? (dj) can you hear me now? (runner) stay with me now! (teens) oooo! (woman 1) mírame ahora! (woman 2) get em now! (roger goodell) we're ready now! (woman 3) have fun! (fan) ooo, pinch me now! (woman 4) save me now! (toddler) let's go now! (woman 5) check me now! (toddler) catch me now! (gamer 1) cmon! (gamer 2) play me now! (toddler) okay, bye now! what will you do when the power goes out?

power outages can be unpredictable and inconvenient, but with a generac home standby generator, your life goes on uninterrupted. because when your generac detects a power outage, it automatically powers up, giving your family the security and peace of mind they deserve. we don't have to worry about whether we lose power or not. if the utility company does not come through, our generac does. after the hurricane happened, we just want to be prepared for anything. 8 out of 10 home generators are generac, with thousands of satisfied customers. number one thing to prepare for is extended power outages. don't make it so hard on yourself, have a generac home standby generator. and owning a generator is easier than ever. special financing and low monthly payment options are available, and if you call now, you will also receive a free 5 year warranty valued at over $500. call or go online now to request your free quote. ♪ ♪

valued ♪ ♪er $500. ♪ ♪ ♪ ♪ welcome back to "power lunch." some of the biggest names in tech and media getting together in sun valley, idaho.

we have news on nba tv rights, according to "athletic" the nba is finishing up deals. julia boorstin has one of the big names right now. hey, julia. >> reporter: jon, i'm joined by casey wasserman, chair of the olympics in 2028, which is in my homestony of los angeles. and also founder of a sport agency, and more recently in music and entertainment as well. so much ground to cover, but i want to start with the headline about the nba. with warner discovery match the offers from amazon or cnbc's parent company nbc universal. where do you see these rites going? >> i think the deals are incredible for the business. the commissioner deserves a lot of credit for creating a set the partners to triple the revenue

for the league, to create a level of access for customers and consumers of sports, where they want to see them and how they want to see them today. i think that's a win. i'm not a lawyer and going to two years ago warner bros. says a -- that's a decision they have to make. they certainly had a period of time, like all the incumbents did, to do a deal, and it didn't happen. that creates others to be competitive. >> so, for your athletes, you represent a lot of nba athletes, is it good to have some of the rights switching to amazon? is that good or bad? or is the fragmentation confusing? >> both. it's good from a revenue standpoint. obviously athletes participate in the gross of revenue of the league. it's hard, because one of the things we've lost as consumers is the guide. when you have a capable box or antenna, you knew where to find

things. it's challenging to find things. i think it's one of the things that nba will try to solve through its property. how do you use the app to start your viewing experience, you end up at an espn or amazon, but how do they become the guide for all things nba. i think they'll try to do that well as they move into the new deal. >> reporter: jon, do you want to jump in? >> thanks, julia. casey, you've said a bit about your thoughts about college football and the new economy that's growing up around that. you know, it's the is second most popular and valuable spot there. how is the name/image/likeness deals changing the economics of this business. >> the economics of college football are staggering, quite frankly. the scale they grow, and the speed in which they have grown, name image and likenesl ece of ,

but the real question i thin fo sports -- and as someone in charges of olympics for los angeles, is to use the inc incremental revenue and passion for college football, does it lift everybody up, or break away and keep the revenue for itself. we're at that inflection point. i think there's a lot that's gotten better in college sports and a lot that's gotten worse. the problem is there isn't someone in total control to fix all the problems. and once you open pandora's box, you better be care offul. it's incredibly powerful, it has value, and it can solve problems or create a lot of problems that no one has thought about. >> you are an influential

fund-raiser. we just heard george clooney saying maybe joe biden needs to rethink the campaign. how does this get resolved? >> look just think about human nature, telling someone not to do something usually isn't a way to get them to do something. i start with that perspective. second, the president knows what it takes to get elected, and what it takes to be president. it's not for anybody to tell him that he's capable of it or not. i think the campaign understands that. they're clearly in the mindset where they're going to try to show he's capable of what he needs to do to run a effective campaign and continue as president. if he can do that, he deserves the right. if he can't, i think -- but i don't think it's because people are telling him what to do and when to do it. >> whether it's nancy pelosi or

george clooney, there's more and more voices asking him to reconsider. you have posted high-profile fund-raisers. what is your message? >> my message is, the burden is on him. he has to show he's got what it takes. none of us have ever been president. he knows what it takes. if you break through the noise, a lot of it is coming from fear. if you're a democrat, you're fearful of losing and you want your best chance of winning. that doesn't mean we know the answer, but it means we're fearful. i think the real question is, and i think the campaign understands that, the burden is to show he's capable, and i really do believe if he didn't think he could, he will not do it, and if he thinking he can, he will stick in it. >> before we run out of time, we have to ask about the olympics. i know you're heading over to paris soon, and watching it as you prepare for your own

olympics. do you think the political unrest and upheaval in france right now will be problematic for the games? >> i hope not. the olympic at its core is about bringing people together on a common playing field under a common set of rules, and at least for two weeks putting that aside, i hope the whole world embraces that. i hope israeli and iranian athletes compete, and ukrainian and russian athletes compete. it's a complicated world, and when you have an event as big as the olympics, it's a big platform for politics to come in, but i hope the people of france know this is a good things for the country, and whatever they think about their elections, for these two weeks it's about much bigger than that. >> are we ready for l.a. 2028? >> l.a. 2028 is ready, excited, and we go from the batter's deck to the home plate august 12th.

>> reporter: we'll be watching. thank you so much, casey wagger man. guys, back over to you. >> my husband was an '84 l.a. guy, so maybe we can bring it full circle. julia, thanks. casey on nbc. >> that's the real experience. >> shares have gone up 48% last month car vachb na. it's one of the biggest stocks we've seen. needham says it's bullish on the potential to ride even more from here. that and three stocks next.

icy hot. ice works fast. ♪♪ heat makes it last.

feel the power of contrast therapy. ♪♪ so you can rise from pain. icy hot. with fidelity income planning, a dedicated advisor can help you grow and protect your wealth. they'll help you create a flexible strategy

designed to balance growth and guaranteed income so you can enjoy the life you've created. that's the planning effect. welcome back. time for three stock lunch. today we have three stocks on the move with analyst calls. here's david wagner, welcome back. let's start with master card getting a downgrade from b of a. on pace for the lowest close. bit of a stumble for the two, i won't call them the duopoly. what would you do with master card? >> even though the downgrade,

i'm positive on the networks, master card and visa. i'll tell you this, they're different flavors of vanilla. for both these names i'm focusing on growth over the next three to five years. i still need to hear a lot from the management teams to remary ann ahern convicted into the names in the future. mastercard has benefitted from the conversion cycle. we all know that cycles into later innings. what's the growth driver really into the future? it's coming from the value additive service sides, identity theft, security, analytical pieces. investors are unsure of the margins in the vertical. does it have the moat like the core card had in the previous business. that's what i want to hear to get more comfortable. if this long term mid teen growth that we've been accustomed to is going to be viable in the future. obviously i'm long here so i do believe in the story. >> next up, carvana getting an upgrade from needham from hold

to buy calling the company a secular growth company. on the rise 150%. what's your trade, david, on carvana? >> what an absolute wild turn around story here. just a year ago people were calling for the company to go bankrupt, sell side had price targets of $1 but not only that, fundamentally the company wasn't buying cars. they weren't spending money on advertising. so there's a big question about growth moving forward in the future and their ability to meet their debt obligations. fast forward a year to today. they're increasing the supply of their cars to meet demand and they turned the water spigot back on from an advertising perspective. they've grown over the last ye in more of a cost conscious manner. they're focusing on maintaining levels of ebitda and gross profit. it's up 144% this year. with that growth means debt isn't really a worry anymore.

if you listen to the earnings call. ernie garcia is absolutely juiced up, the ceo. i can't blame him. $1 billion free cash flow. as juiced up as i am right now, i'm on the sidelines given the year to date run and valuation. >> juiced up. dave, thanks. we appreciate it. dave wagner. we'll be right back. what will you do when the power goes out? power outages can be unpredictable and inconvenient, but with a generac home standby generator, your life goes on uninterrupted. because when your generac detects a power outage, it automatically powers up, giving your family the security and peace of mind they deserve. we don't have to worry about whether we lose power or not. if the utility company does not come through, our generac does. after the hurricane happened,

we just want to be prepared for anything. 8 out of 10 home generators are generac, with thousands of satisfied customers. number one thing to prepare for is extended power outages. don't make it so hard on yourself, have a generac home standby generator. and owning a generator is easier than ever. special financing and low monthly payment options are available, and if you call now, you will also receive a free 5 year warranty valued at over $500. call or go online now to request your free quote.

do you have a life insurance policy you no longer need? now you can sell your policy - even a term policy - for an immediate cash payment. call coventry direct to learn more. we thought we had planned carefully for our retirement. but we quickly realized we needed a way to supplement our income. our friend sold their policy to help pay their medical bills, and that got me thinking. maybe selling our policy could help with our retirement. i'm skeptical, so i did some research and called coventry direct. they explained life insurance is a valuable asset that can be sold. we learned we could sell all of our policy, or keep part of it with no future payments. who knew? we sold our policy. now we can relax and enjoy our retirement as we had planned. if you have $100,000 or

more of life insurance, you may qualify to sell your policy. don't cancel or let your policy lapse without finding out what it's worth. visit coventrydirect.com to find out if your policy qualifies. or call the number on your screen. coventry direct, redefining insurance. welcome back. let's get you a quick check on markets. what's the saying, stocks go up? that's the mood lately. not only the s&p 500 and nasdaq which continued to hit record highs day after day. the dow is up 237 points. apple is part of that story. it's been higher every day in july. up seven straight days, john, seven second records if it holds in the green. >> remember when nvidia was ahead? it's a horse race at the 3 plus trillion dollar, hard for me to say, trillion dollar level, but lots of questions on what sustains this market. software's been having a hard time. semiconductors, x, nvidia, amd,

broa broadcom has been a mixed bag. >> right. the fed rate cuts may be helping propel that. steve sent me his outlook. he's moving back to lean out of the big market cap names. >> rates go down maybe now. thanks for watching "power lunch." >> we'll see you in a little bit. closing belle starts right now. >> i'm scott wapner from post 9. this make or break hour begins with the rate cut rally. stocks extending record highs as fed chair powell makes the case for lowering the rates. most are wondering how long it can all last. we will ask our experts over the final stretch. scorecard, 60 minutes in regulation. dow is good for near .62%. nasdaq is up by nearly 1%. tech is good