y'all seeing this? wild! and i don't even have to activate anything. oooooohhh... automatic sashimi! earn cash back that automatically adjusts to how you spend with the citi custom cash® card. [mind blown explosion noise] ♪ ♪ good afternoon. welcome to "power lunch." i'll tyler mathison. we start with a check on the markets. stocks are a little mixed right now. dragging on the dow today, the safer defensive plays like procter & gamble and coca-cola all with red losses. walmart on pace for its third

straight update. we'll have more on retail coming up. let's start with the setup for the markets following last week's big moves. major averages down 3 or 4% for august so far. even with the losses, let's keep perspective here. the s&p 500 and nasdaq are up 12% or thereabouts for the year so far. let's bring in mike santoli for more. mike, welcome. good to have you with us. as we look into this week with a couple key earnings, most notably from walmart and a couple others, what are you seeing? >> reporter: mostly what we're seeing as an apprehensive action. certainly calmer. no more of that panic. that was a week ago. what we have now is more akin to a fairly routine growth scare in the economy. i think what the market needs is reassurance that the u.s.

economy, the consumer, remains relatively healthy. that's the battle front right now. are we preserving the possibility of a good soft landing. has the fed waited too long? the inflation numbers are important this week, but they ought to be subordinate to what happened with walmart and home depot. i detect unsettled activity below the surface. most stocks are down today. most stocks are down from here open day. even regional banks which got a lift earlier have backed away. there's not a whole lot of conviction about this having been a real buyable pullback in the markets, even though it looks fairly ordinary in the context of a longer term uptrend. >> as you look at last week and think where we were last monday, it was a very bad day. then the market seemed to right itself. it was choppy. it was a lot of buffeting up and down. by the end of the week you didn't feel like you had

sustained major flesh wounds. >> reporter: not much, no. i think that really time helps when these types of episodes happen. if you feel as if it's forced mechanical selling, at least in part as an exacerbating factor for last monday, the more days you go without seeing one of these storms unleashed on the market in terms of heavy pressure on the sell side, it makes you feel as if, okay, we can have regular two-way activity in the market and not worry about it. the question is always are we in the middle of the horror movie where we think we outran the hunter or is he gone? >> mike stay there. our next guest says last weeks selloff was overdone and still expects volatility. he's david speaka. last week, david, not to get excited about, a little overdone you say? >> yeah, i think the yen carried

a big part of it. when you look at where the economy is today, unemployment is still very strong at just over 4%. wage growth growing under 4%. the atlanta fed is estimating third quarter gdp of 3.5%. earnings came in double digit. the nonmag seven companies produced the best earnings growth since the fourth quarter of 2022. that gives us confidence. >> yet there's been earnings caution, hasn't there, david, in some of the commentary of some big companies. >> yeah, there absolutely has. think of where we are in the cycle. the fed last raised rates over a year ago. we're starting to feel these rate hikes. one of the things you need to do is look for companies that have visible revenue and earnings growth. a lot of the commentary was

around cost cutting and a.i. capital expenditures slowing down. there's still plenty of good companies out there. you're seeing growth out of the nonmag seven. we can't just throw all our money at the mag seven. we need to look at other values in the market. it was good to see those companies outperform the mag seven. >> let's presume that the fed cuts interest rates. we'll learn more when they go to jackson hole. let's assume the fed cuts rates a month from now. is that probability all but already priced into stocks? in other words, would you expect to see certain subgroups of stocks or stocks generally go higher on a rate cut or is it already in the numbers? >> that's a really good question, tyler.

i would say 25 basis points probably is priced in and you're going to see home builders and consumer stocks and certain companies do better on a rate cut. banks, financials. the one thing we don't want to see is the fed overreact and cut 50 basis points. that would indicate they're panicking and they believe they're behind the curve and i think the market would take that negatively. let's stay the course. jackson hole won't tell us a lot. we'll get cpi this week and august employment report in september. 25 basis points is probably priced in and we think that's the best case right now. that puts us on the rate-cutting cycle which gets us to the neutral rate for the fed which over time is 3%. >> mike santoli, are you with the idea that rate cuts, at least a quarter point, is possibly already priced into

stocks and to address david's other point that a 50 cut, a half point cut, would be maybe a sign of panic? >> reporter: i don't know about panic, but i would say resolve. i think there's an acknowledgment out there that fed funds above 5.25 is way above two-year treasury yield, the rate of inflation. there's room to cut. to me it's all about when the fed eventually does ease. is it in the context of an economy that's hanging in there so they seem as if they're doing an optional, deliberate easing cycle as opposed to rushing because they have fallen behind? as the data come in and it's going to fill out the picture as to whether they're still in their preferred path of doing insurance cuts and making policy less restrictive as opposed to facing a failing economy. >> back to you, david, for a

couple stocks you like. one would be a direct beneficiary of a direct cut, that is lennar, a home builder. >> that will benefit from the right cut. tyler, we have an undersupply of houses in this country. we have since the housing bubble collapse in '80. falling mortgage rates have created activity there. fed rate cuts will improve the landscape for home builders. we like lennar because they're doing mortgages, multi-family land deals. they have an opportunity to benefit from lower rates and from a need that we have in this country for more housing. >> david, mike, thank you very much. appreciate it. now let's turn to the bond market. yields are falling ahead of the key inflation data that comes out later this week. rick santelli is in chicago for us. hi, rick. >> reporter: hi, tyler.

tomorrow's july bbi reading might not get the same attention or move the markets as much as the cpi, but it's coming first and it draws many eyeballs to one situation and that is year over year food, energy and trade have all been over 3%. three in a row over 3%. even though last november we were all the way down to 2.5%. this is very interesting to pay attention to because these year over year readings are running a bit warm. now, we look at the vix. did some trading under 20 today in some of the things we've been discussing from last week. it might be dispensing and leaving the market for a brief time. we're definitely hovering, idling around 4% in both twos and tens. if you look at a three-day chart, twos are stuck.

they've been closing over 4%. that same three days ago the twos and tens were hovering in positive territory. the tens have reversed down. going back to may of last year you can see that two-year are hovering at 15.5-month lows, but they really are giving up some big ground on the rate side of the equation. it's causing many to think that should we start to see some convincing trade under 4% in twos that that would trigger a lot more buying. i think that goes along with the last discussion. if we get a rate cut in september, look for the market to think we'll get lots of rate cuts to follow. >> rick, thank you zpl. new numbers on government spending. megan has that news. >> reporter: interest costs on

the national debt keeps soaring. the u.s. government spent $898 million in july. for the fiscal year to date interest costs are 32%. the biggest line items on the spending side are tied to higher interest rates, spending at the department of health and human services was up 10% due to higher costs for medicare. spending on social security was up 10% because more people are receiving benefits. the tax receipts were up 11% overall for the fiscal year. total spending is up only 6%. top line, tyler, for the fiscal year, the government is running a $1.6 trillion deficit, 5% smaller from this time a year ago. >> i guess we can take solace in

that. coming up, keep retail earnings on deck over the last couple weeks. we've seen cracks forming around the consumer, especially in the u.s. and specifically on the gh ends. what will we learn from walmart? not exactly the higher end. that's next. okay, team! oh, thank you so much i couldn't have done it without you. honestly, i don't do a whole lot here. i'm really just here for the at&t internet, it's super-fast so, any pre-launch concerns? what if nobody buys them? that's mean or, what if everybody buys them? oh, i hadn't thought of that that's probably not gonna happen can we handle that kind of traffic? the network can handle it! i downloaded eight hours of true crime stories just during our last video call i'm learning a lot

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welcome back to "power lunch." big week ahead for retail earnings as they kick off with some of the big box retailers including home depot and walmart reporting sales. retail data sales for july out later in the week. investors will pay close attention as we'll get a read on the consumer and the economy. let's talk more about that with retail expert brian gildenberg

and melissa retko. brian, let me start with you, your view that the two chinese retailers are kind of resetting the bar for where a discretionary treat may be. i assume that means in terms of price they're bringing the bar down lower and that may ripple thr through the system. >> first, good afternoon. if you think about discretionary as a category, the mix in that category is shifting to lower-ring items. then their cousin which is tiktok and the kcommerce enablement of tiktok are trends on what people expect to spend. i think that ties out really

well with shoppers who are anxious or cautious about discretionary purchases. >> it's an interesting thesis. how big are shein and timu and are they big enough to move the needle for other retailers? >> it's a good question. when i think of shein and timu, it's commodities. it's something to watch for sure, not so much with home did he phome depot. tomorrow when they report they'll be talking about interest rates. >> brian, let's talk about the home stocks, which would be lowes and target -- excuse me -- lowes and home depot. what are you expecting there? >> with home depot and lowe's

they continue to be relevant and much more sensitive to interest rates and what's happening in the housing market, which doesn't appear to be changing dramatically. you had commentators on that talked about continued softness in that. we expect to see that as well. for target, i think target and walmart might benefit from the fact that their quarter ends in july, as opposed to amazon who ends in june. their prime day shopping season is going to be in july. there's a chance you'll see that target and walmart that had encouraging quarters in terms of how shoppers seem to be responding to their messaging around their equivalent of prime day, you might see an upside in discretionary spend with them because of the overall impact of the middle of july turning into a shopping holiday for americans. >> what is the street expecting

from walmart and target? >> with walmart, the -- there's an optimistic take in general. there's a couple factors, not only is walmart better positioned as the nation's largest grocer, but it's growing its market place and advertising business, some factors that make it more resilient. it's introduced a private label that indcaters to that trader j alternative or people who want an alternative to fast food. mcdonald's is competing more were walmart as people are cooking at home. with target they lean heavily on discretionary. it may make it a tougher quarter for them. >> they don't have the same footprint in grocery particularly as walmart?

>> exactly. >> so, brian, final thought here on home depot and lowe's and the effect that a falling interest rate cycle might mean for them? >> i think in general what needs to happen, not just for home depot and lowe's but the economy in general for the housing market and for renters who are paying at the top end of the rental market, a reduction of interest rates improves liquidity in the housing market and will create a more natural moving in the housing market. target does as well. target does a remarkable amount of business when people move. the first place you go after you move if it's not home depot or lowe's is target. that stagnant si in the housing market has a -- >> another place target cleans up, i'm taking his son for his freshman year of college.

target is going to clean up this week. get ready bloomington, indiana. brian, thank you very much. appreciate it. melissa is going to stick around. we want to ask you about macy's. that stock is down 20% this year as it continues to struggle with the retail environment. planning to close 150 more stores by 2027, literally changing the landscape. you have a story telling us more about it. what's going on there? >> as macy's a third of its stores it raises a question of what will malls look like in the fu future. i spoke to real estate people who said use cases are interesting. in utah a former macy is becoming a practice rink for the new nhl team in utah. we're seeing housing moving into that space. there's a need for housing and

apartment complexes can be tacked on to a mall or the box can be demolished and turned into something new, even retirement communities. it's a new amount of square footage. i've seen this play out in my own hometown. in northeast ohio there was a former mall dying. it was demolished and became an amazon fulfillment center. these are examples of how you're seeing the retail cycle of life. in some cases the macy's will be the nail in the coffin, but it could be a chance to reinvent the mall with entertainment, bowling alleys and things like that. >> i see a lot of big gyms going into those spaces. i see urgent care centers going into some of those stores. maybe not at the scale of a macy's, but you subdivide and get several. >> the other interesting piece here is that historically macy's

has owned a lot of those spaces. it hasn't been a normal agreement like a landlord would say we want to get a new tenant in. the land owner will have to buyout macy's and it could be a cash infusion for macy's as they're trying to revive some of the store it keeps open. it's going to keep about 350 stores open and they say they'll invest back into the mall. >> will they be adding their other brands like bloomingdale's and blue mercury? >> yes, they will be opening new stores where as macy's will be shrinking in size. >> melissa, thanks. what are your options when trading google? the market navigator is next.

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welcome back to "power lunch." today's market navigator. one option trader thinks last week's rerating of google has made an attractive stock even more so. tony zang is chief operations strategist at option play. tony, welcome. what is your google trade? >> yeah, here we're going out to the september 13th weekly expiration and selling 160 puts. earlier today you could collect $3.33 and it obligates you to potentially buy the stock at around $156. it's a strategy where for every contract you sell you can acquire 100 shares with a significant discount using this

strategy. >> all right. what are you seeing that tells you this is an opportune time to execute this strategy? are you seeing that google is back at a key level? >> yeah, absolutely. first of all, you're at pretty compelling valuations, even before the volatility last week. we were selling alphabet at compelling valuations. you're trading a little over 20 times forward earnings at the moment. given the fact it's expected to grow faster top and bottom and it has better margins than the industry, i think the fact it trades as a significant discount at this point about 20% discount, means from a valuation perspective it's compelling. out of the magnificent seven it's the cheapest stock, but also the volatility last week has made options expensive. that's to the advantage of an option selling. we're options to

acquire shares and that means we'll get a bigger discount. this gets put to you on the september 13th expiration. you can potentially buy alphabet at a little under 20 times forward earnings which is down right cheap. not only relative to the industry, but relative to the market. >> quick answer. for those of us like me who need to slow down when we talk about options, how does this trade make money? >> this makes money in two ways. either the stock stays put where it's trading right now or moves higher. in those two instances you'll collect $3.33 for each contract you sell, which is 2% yield on your cash in 30 days. that's a nice yield if alphabet stays where it is or moves higher. if it declines, you earn the shares at 20 times forward earnings which is a good

long-term investment. >> tony, if it workis, it's great. thank you. two controversial figures sitting down for an interview. one is donald trump. one is elon musk. we'll discuss ato wh texpect. where there be fireworks? interesting stuff there. the must-see interview. ♪ ♪

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romance we've been watching between donald trump and elon musk. musk is going to be hosting that conversation with former president donald trump 8:00 p.m. eastern on x spaces, audio only. no idea what to expect here with these two men. musk tried this last year when florida governor ron desantis announced he was running for president. well, x melted down on that one. it was a complete disaster for the coming out campaign for desantis. all we know, two of the biggest personalities in the world are going to be broadcasting their conversation. in the meantime, trump today made his return to x posting what seems to be a campaign video. in one case it was labeled as an advertisement, but also unclear if that is regular post or not. there are regular posts as well. look, it's unclear who is really -- if he's spending real ad dollars on x. we know the history between these two. musk endorsed trump after the assassination attempt and has a

trump-supporting pac he's bankrolling. "the wall street journal" reporting the pac's mission is to convince 800,000 voters to go for trump. who is this event for? on the trump side basically talking to his own audience already, similar to that mar-a-lago press conference last week. on the elon musk side you get some good engagement on x and potential advertising dollars from the trump campaign. >> is this a welcome back back to x? >> seems like it. >> for mr. trump. >> it seems not him posting, just the way it is and the language they're using, a lot of campaign videos. one of them appears to be a political advertisement. in some cases it was labeled that way. if so, that's a telling thing for what's going on at x and truth social. >> has the former president posted personally on x yet? >> it doesn't seem like it.

>> is he just stuck with truth social? >> for the most part. before today his last post was his mugshot. elon musk after his account was removed after january 6th, 2021, he was reinstated, but he's been barely using it. most of the communication is on truth social. truth is down 7% today. their earnings didn't look great, but the fact that the name sake of that company is going to the rival platform to do what i guess is a campaign event tells you a lot about the power he thinks of the platform. or it could be playing up to musk. musk is providing a lot of money that trump needs. >> he's going to write you $45 million every month. it's a reason to patronize his service. >> and maybe put some ads on there as well. >> steve, thanks. to bertha coombs now.

>> reporter: north dakota accepted 19,000 signatures to place legalizing marijuana on the ballot. they legalized medical marijuana in 2016. brazilian authorities over the weekend retrieved the remains of all 62 passengers from the wreckage of a plane crash on friday in the san paolo. investigators removed the planes two engines from the site and recovered the black box containing voice recordings. the cause of the crash still unknown. a preliminary report is expected within the next 30 days. gym operator blink fitness has filed for chapter 11. the chain said its gyms will stay open and that it received

$21 million in new financing from existing lenders. employee wages and payments to vendors are expected to continue without interruption. >> bertha, thank you very much. up next, when it comes to climate change, we focus on carbon emissions, but methane is more disruptive to the planet. we'll dive deeper in today's "clean start." your memory is an amazing thing, but sometimes it can start to slow down. but did you know prevagen can help keep your memory sharp? the secret is the powerful ingredient, apoaequorin, originally discovered in jellyfish and found only in prevagen. in a clinical study, prevagen was shown to improve memory in subgroups of individuals who were cognitively normal or mildly impaired.

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♪ welcome back. we talk a lot about reducing carbon emissions, but methane is more destructive to the planet. one company is working on technology to eat methane. we have the details in our series on climate startups. >> reporter: it sounds gross, but i'm going to introduce you

to amem. it's a methane eating microbe like yeast that eats sugar and bread. they eat methane and start fertilizer. it's the brain child of a startup. methane is a potent greenhouse gas that traps more heat in the atmosphere than carbon dioxide. getting rid of it is essential. while much focus is on reducing methane emissions, this company has come up with a way to get rid of methane. microbes that eat methane as food. >> we provide pacts of amems and they can capture the methane, turn it into fertilizer. >> reporter: if a farmer is using it, they can use the fertilizer themselves. if it's an oil producer or

landfill, windfall will buy the fertilizer back from them so they get paid for capturing methane. >> it's a profitable, useful process for them. >> reporter: they've been researching this for a decade, but launched two years ago. >> i've been shocked how high the demand is. we have customers on every continent and have more interest that we can supply. >> reporter: investors say they're not concerned about it scaling quickly. >> we've seen the data and feel compelled by what we've seen and will continue to progress this in a number of pilots going forward. >> reporter: in addition to ca cavallo, they're backed by others, total funding $37 million. another benefit, traditional

fertilizing developments requires a lot of energy. windfall says they're launching a program with whole foods, specifically their dairies to eat up the methane. >> i don't know whether you know the answer for this, forgive me if you don't. how are these deployed so they gobble up the methane? do you sprinkle it around places that methane is produced? >> reporter: exactly. let's say you're on a dairy farm. you can put them at the end of an exhaust pipe or if you're putting them on agricultural land, you can use tarps and put them underneath the tarps and they'll suck up the methane. if it's a smoke stack where they do carbon capture and do different types of pipes, you put them there. you put them wherever the methane is so it can have its dinner. >> is there competition in this space? anyone else in the methane

eating game? >> reporter: not in the methane eating game. there are different methods used to capture methane or reduce methane. not other eating microbes. >> diane, thank you. coming up star board betting big on starbucks. we'll trade those next on "power lunch." tony, its gone. no. how am i going to do this? welcome to the mdy mid-cap cup, presented by state street global advisors. today's challenge is to play 9 holes

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♪ welcome back. time for today's three-stock lunch where we look at starbucks, eli lily and jetblue. here is scott nations. let's start with starbucks, up today on reports that the investor starboard value has added a stake. elliot management in that stock. wells fargo optimistics on boths potential. are you confident? >> no, i'm not confident. this is a hold. starbucks is a hold. you don't want to be the focus of activist hedge funds.

starbucks is the focus of two. the latest one is starboard being the one's that told olive garden to salt their pasta water. they want the company to make changes to boost the stock price. instead the company has reduced guidance two times. it's down 20% year to date. same store sales have disappointed. let's face it, if you're a consumer feeling pinched by inflation, a $5 coffee is a good place to start. with the forward pe at 20, you can't say the stock is cheap. >> that's a hold, which sounds a little like a sell there, scott. >> not quite a gentleman's sell because we're going to let these hedge funds do their work. if we get back to unchanged on the year, then i would be a seller. right now i think everyone is

saying they don't care about the cheese. they want out of the trap when it comes to starbucks. >> let's talk about eli lily gaining 10%. deutch bank upgrading the name to buy on mounjaro recent eps b pleasant surprise. additionally concerns about capacity constraints are easing. it would be horrible for a company to have a high margin drug that everybody wants and not be able to make enough of it. that the option market, the only one of the ten biggest names in the s&p where the option market is bullish. not cheap at a forward p.e. of 52. you're paying for growth, but so far you're getting the growth you're paying for. >> getting the growth. they seem to be as opposed to competitors a little ahead on being able to meet the demand, the capacity question. all right. finally let's move to jetblue. the shares having their worst

day ever after announcing a $4um h in five-year convertible senior note. this after a surprise profit at the end of july, but a capital raise here on jetblue, scott. >> yeah. this is a sell. the company is not profitable. they're raising a total of nearly $3 billion in bonds and loans backed up by their frequent flyer program. moody's just downgraded the company even further into junk. and their analysis was damning saying it would likely take years for the company to increase its metrics enough to -- to have some sort of reasonable, positive cash flow and earnings in the near future. listen, all the airlines, tyler, are really tough businesses to be in. but you don't have to swing at every pitch, and you don't have it buy jetblue just because we're talking about it. if you felt compelled, had to invest in an airline, i would focus on one that had much more

foreign exposure, foreign routes, because those tend to be so much more profitable. >> let's get a thought on the markets generally. the dow is down about .3% now, a little off its lows. nasdaq and s&p are slightly higher. what are you looking for as we sort of wrap up the summer? >> tyler, we've been back and forth at least in the s&p above and below the unchanged line today. it's -- nobody can seem to really get any sort of momentum going. i'm disappointed that they have -- that the market has not been able to sustain rallies recently in the s&p. the option market is still not just scared of volatility but terrified of it. and so i think that we're going to see more of this as august continues, you know, a lot of people away, it's going to be tough to sustain much if any move. i think that until we get more guidance from the federal reserve, 25 basis points, 50

basis points, i think it's going to be a pretty sloppy august. >> all right. sloppy august. scott nations, thank you, my friend. nations indices. remember, you can always hear us on our podcast, always. be sure to follow and listen to "power lunch" wherever you go. we'll be right back. this summer, there's no better time to experience the latest mercedes-benz has to offer. make your dreams come true. but the choice won't be easy with exceptional offers on the e-class sedan, c-class sedan, cle cabriolet and cle coupe. hurry, these dream offers won't last forever. come in now through september 3rd. 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

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let's give a check on the markets now. the dow jones industrials off 161 points. about a half a percent at 39.335. s&p 500 wobbling a little bit between positive and negative. right now a second ago, up just a little bit, and nasdaq slightly higher. this would be its fourth up day in the past five sessions following that huge 3.5% drop that occurred last week. up a quarter percent right now. meantime, shares of disney are lower by nearly 20% over the past six months as there are concerns about nearly every

segment of its business including even the money printing theme parks. julia bore extend with more on disney's future plans. >> tyler, disney's theme parks division did show a slowdown in its earnings report last week. but the media giant is betting that the parks and cruises division will drive growth for the company over the long term. this weekend at its fan event, d23 showing how it plans to invest $60 billion in its parks and experiences division over a decade. a commitment it anounced last year. the image inkingdom is getting a new villains land to expand the florida park. california adventure is building two new attractions, and disney announced four new views ships in addition -- cruise ships n addition to the four at sea. morgan stanley with an overweight rating saying they see the expansion of disney's experiences division as notable given its long history of high and rising return on invested capital. as the company's linear tv

businesses struggle, bob iger showcased new films designed to keep up the box office rebound that we've seen this summer led by "inside out 2" and "deadbowl versus wolverine." building on the success of those films, five of the seven films disney featured were from popular franchises including "toy story 5" and "frozen 3." and as disney makes its diversification push into the fast-growing epic games with a strategic investment into the company announced earlier this year, they unveiled how they plan to really integrate those characters into "fortnite" starting with new marvel characters which will be part of the game as early as this week. back to you, tyler. >> julia, one of the things that leapt out at me there was how much they're investing in cruises with four new boats in addition to the ones that they're already building. they're going to become a big cruise line. than they aren't already. >> yeah. this is really part of their

whole experiences business. the idea that if are you interested in bringing your family to the park, whether it's in florida or california, then those big disney fans want to spend more money and more days and have this really immersive disney experience while they stop off in various ports. so this is really based on all the research and the data of what disney has seen about their fans. and what's interesting to me is the fact that now they have this additional touch point abwith fans, the fans at the parks, but also through the streaming service and through those dedicated -- to those dedicated fans they can really start to market things more through disney plus. so that's another advantage of having this d-to-c relationship with the streamer, that they market things like a cruise ship experience to them. >> little bit short on time, but in terms of scale, the expansions or the new features at the parks, how do they rank? >> when they announced this last september they said they were downing their investment in the parks to $60 billion over ten

years. so really doubling down on that parks and experiences division. >> all right. very interesting. always interesting to hear about what the house of the mouse is doing. julia, thank you very much. and thank you, folks, for watching "power lunch" for a monday. "closing bell" will start in a few seconds time. see you back here tomorrow. thanks, welcome to "closing bell." i'm live from post nine at the new york stock exchange. this make or break hour begins with the risk-reward for stocks. whether it's gotten better following last week's volatility. we'll ask our experts over this final stretch. meantime check out the scorecard with 60 minutes to go in regulation. the major averages are sort of taking a wait-and-see approach to the data deluge. we have inflation data, retail sales, consumer earnings, as well, lying ahead. it will be a good test for the markets given all these questions about the direction of the u.s. economy. nvidia, it is one of the standouts along with other chip names like