just noting that farmer jim >> i also like it when he talks about asset under management which matters to him, me and black rock, asset management is going up >> liz >> energy. i think it does well in multiple environments if you want to be defensive, it pays a nice dividend it does well because of demand i think that's what you want >> see you at 3:00 ♪ ♪ we will inside see you at 3:00 scott, thank you very much welcome to "the exchange." i'm tyler mathisen in today for kelly evans. here's what's happening ahead. stocks are surging, yields are higher after july retail sales smashed estimates and weekly jobless claims came in a little bit light. so does today's strong data now change the fed's path to rate cuts we'll discuss that and whether the soft landing is increasingly showing signs that that landing is being stuck all right. so with signs that spending is

still strong and with sentiment data on deck for tomorrow, the ceo of klarna will give us his take on the bank's pay now, pay later product. and apple adding a stake in ult th a. we'll talk to the rapper behind a men's new grooming line. but let's start with today's market the major averages all higher after the retail sales number calmed investor fears about the consumer the dow is up, as you see there, by 400 -- let me get on my special glasses, 460 points. on pace now for its best week since december the s&p is higher by 74 points the nasdaq up by about oh, well over 300 points. on pace for its best week sense november the nasdaq up more that n 1.5%

the russell 2,000 up nearly 3% as recession fears fade and yields higher on the ten-year, back above 3.9%. let's drill down now on the consumer names making big news with discretionary the best performing sector, that beck sure stake at ulta shares soaring, making it the top performer on the s&p 500 walmart beat on guidance, shares are higher and that's giving target a boost ahead of its boost next week t tapestry also higher, despite the macro headwinds in china cisco shares climbing after yesterday's top and bottom line beats. they announced it will cut 7% of its global workforce as part of a restructuring plan focused on driving growth and efficiency, and shares as you see there up

by more than 7%. let's dig further into that resilient consumer retail sales, growing a full percentage point in july, blowing estimates out of the water and marking the highest read since january of 2023 now, that strong number has some wondering if the fed should cut rates at all one of my next guests maintains the fed will cut by a half point in september and november. for more, we're joined by citi's global chief economist nathan sheets with morgan stanley investment manager, and steve liesman. nathan, 50 basis points, a half point in september and november each why do you see that as the likely path? what are you seeing that others aren't >> clearly, the u.s. economy is slowing here, and inflation has come off and quite candidly, i think it's

time, and at citi we think it's time for the fed to get moving in taking policy to a more supportive stance. another way to put this, the risks around the fed's mandate have shifted months ago, it was all about inflation. and now the fed's got to be as worried and i would argue even more worried about a slowing economy and the labor market >> so steve, do you agree with what nathan just said, and that is that the economy is slowing -- i don't know, i don't want to put words in your mouth, appreciably. >> i don't see it appreciably. i believe it's slowing, and i believe it's really hard for markets, for economists, for forecasters and for the fed to sort of separate this idea of an economy that's slowing down in a worrisome way versus one that's slowing down for a soft landing. you don't know until you get there.

the inflation numbers are coming down i do agree in the following way. i think the fed can cut rates and have almost no impact on its fight against inflation. from my read, i think the fed is accessibly tight, given what's happening with inflation it's become tighter based on its own metrics of following real or the inflation adjusted funds rate so i'm not sure that the fed wants a down payment on 50 to start with i think 25 is fine i think the market is confident in 100 this year, that makes sense to me, to get down to a place where, if you need to strike and help the economy out, you're a lot closer to neutral than you are at 5.41 another element i would bring in, tyler, which is i think that powell will very much want a september rate cut to be unanimous. 50 might send somebody to the dissent side for the political optics of this rate cut, you're going to want

all the voters on board with this trump appointees to the fed and the biden appointees >> so i'm going to get back to nathan in a moment, but andrew in the interest of getting you in the conversation, we're talking about inflation coming down it has come down, but wasn't the print earlier this week a 2.9% rate, and that is still not the 2% number that the fed wants so i have a hard time squaring those numbers with the idea that inflation has been slayed. >> well, you know, we've got two economists on the show, and i'm just a portfolio manager but i suppose what markets are telling you is the direction is still in the right way, and therefore, it's bullish. we'll have to see whether there are bumps. i do agree with you that there could be question marks. right now, the market is seemingly pricing in a perfect landing, which is low inflation, causing the fed to ease. but a soft landing, not the

economy breaking you know, could either of those be challenged? i think that's possible -- >> nathan, let me ounce that question back to you, if i might. inflation has come down, but it's not at 2%, which is what the fed says it's ultimate target is. so, is it safe then to start cutting rates, and in your view, cutting rates rather aggressively when inflation hasn't reached that target, is merely directional moving that way? >> the key point here is that the fed doesn't need to see and shouldn't wait for inflation to be at target the key issue is inflation is clearly on the path back to 2% we look broadly at inflation indicators, i think pretty clearly the answer is yes. a and then it's reinforced by the economy, we can debate how

much the economy is slowing, but clearly the economy is slowing, and that's likely to further take pressure off of inflation and as steve emphasized, the fed is quite restrictive, and even if they cut 25, 50, they cut 100, they're probably still in a restrictive territory. so the question is, how restricted should they be? as we all agree that the economy is softening, the labor market is loosening >> reaction, steve we are really

in the weeds here, is that pce forecasts came out based upon the cpi and the ppi, and everybody thinks that pce report coming at the end of the month will be really define, a 0.4 or 0.5, blinging down the core pce number in a way that's on the road to 2% and that's really what the market was talking about so you could end up -- i know it's not friday yet, but you could be optimistic and hey say, maybe we have declining inflation and an economy that's going to hang in there in that case, you can cut rates and remain a little restrictive and see how things go. >> let me turn to the portfolio manager and get you around third and brickng it home as i read it, you say that right now, we are in the middle of sort of an august recovery, a rebound rally that may well be

short lived before we go the other way. but longer term, you are quite constructive on the market and have some stocks to back that idea up. >> yeah. i mean, in terms odecember 31st, we're going to be pricing off of 2025 earnings estimates and the reality of this year is that number has consistently moved higher, bonds have gone from 2.735 to 2.80 today that's the number, and the question is what do you pay in a multiple and the fed is going to lower rates, i through you can get over 20 times that number to start the year that's how that -- closer to 6,000 by year end. but near term, you know, july from the peak in july until this week, it was a total risk-off selloff. so beta, anything with risk got crushed, and now it's coming

back so i think we're in that period of recovery for the -- still down from where they -- their highs, whether it's nvidia, taiwan semi, amazon, all these companies that had good quarters nvidia hasn't reported yet, but the others have. and they're still down double digits from their highs. so those are the kind of stocks people will run back to with very good fundamentals i am worried, however, as we get into, you know, into september is this perfect landing, could it cause the -- could there be question marks that cause another bump and retask or a challenge to that last monday low. i think that's a possibility >> there are lots of moving parts in the market in the world right now. obviously, you're on top of all of them. andrew, thanks so much nathan, we appreciate it, and

steve liesman, always great to see you. appreciate it guys thank you. all righty while today's consumer data was strong, there is at least one segment where cracks appear to be widening. phil lebeau joins us now with that story it's got to be one or the other. it's got to be autos or airplanes, phil, with you, my friend >> it's not airplanes. not aviation there's no shortage of people who want to fly right now. what we're talking about is the auto industry. it might be extreme to call this a crack that worries the automakers, but it is something worth paying attention to, because it is a snapshot of the consumer, especially when it comes to auto payments this is data from cox automotive the chief economist there has given us an insight into what's happening. basically what he says is that lenders are tightening auto credit right now the average new loan rate remains elevated relative to where we have seen it in the past at 9.8% and defaults, up over 3% this

year higher than it was prepandemic, not quite to the 2009 recession high of 4 h.1%, but it is edgin higher as a result, what we are seeing is that the demand that we thought would be there for new vehicles, it's just not there. right now, we're on pace to sell 15.5 million vehicles in the united states this year. basically on par with what it was last year. but below what the analysts were expecting at the beginning of the year most thought we would be seeing sales closer to 15.9, maybe 16 million vehicles the price that people are paying, and the monthly payment that goes along with it, that remains elevated the average price is still well of $48,000 for a vehicle when you look at the loan payments, they remain elevated a new loan average, new loan payment is $767 per month. when you look at the used auto, $558

bottom line is this, as you take a look at shares of the auto stocks cope in mind that the automakers are being much more judicious in terms of increasing incentives, which have moved up, now over $3300 on average per deal. but they're also being much more judicious about throwing more vehicles out into the inventory, if you will, tyler now, there are some dealers, certain brands, you talk with dodge dealers, ram dealers, they are dying because of how much inventory they have. they would like to see higher incentives but other dealers with other brands, they're comfortable with where they are would they like to sell more absolutely but what we're seeing right now, tyler, is a reflection of tighter credit in the system in terms of people when they're going to buy a vehicle >> why is gm's stock doing as well as it is? >> it sold off pretty good i think that's -- part of this is when you are a gm investor, you look at the dividend yield, which is good, and you also look

at what you see relative to, in the past where they were throwing a ton of cash into evs and capital. that shifted they said, you know what if we can generate more cash, we're going to do that for the investors. that's been a reflection of why the stock moved higher >> phil, thank you very much coming up, klarna taking on thebacks we'll speak with the ceo about their strategy as wall street awaits a potential ipo from this non-u.s. company but first, homeowners rushing to refinance as mortgage rates hit their lowest level in over a year we'll get a look from the ceo of frost bank down in texas later on in the show and rapper fat joe joins us in studio to discuss his newest business venture and the state of the consumer.

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bring on the good stuff. gina costa... looking simply stunning... what's this? she's opening her fidelity app.... to buy that stock... with no fees or commissions... because what does gina got? gina's got the look. that never gets old. talk about easier investing. welcome back to "the exchange," everybody home builder stocks climbing despite mortgage rates rising a bit. diana olick joins with us that story. there are those home builders, di >> it was a rough day in the numbers for housing for sure the bond yields jumped and the

average rate on the 30-year moved up to 6.85%, so back to the highs from a week ago. this came right after the august read on home builder sentiment in the single housing family market it dropped to 39 in august, and july's reading was revised down, as well. this is the lowest level since december of last year. anything below 50 is considered negative sentiment sentiment was at 51 in april a year ago so mortgage rates dropped sharply at the start of august from over 7% to the 6.5% range but the builders said in a report that a lack of affordability and buyer hesitation stemming from previously elevated interest rates and still high home prices are all holding back sales of the index's three components, they each fell, but sales expectations in the next six months rose slightly, almost to positive territory that. is likely because builders are

expecting those lower interest rates. and that's not just going to juice buyers, it's going to help the builders with their own borrowing costs. you can see the home building itf drop this morning after the retail sales data but made it way back up into positive territory with the broader markets. >> di, thank you very much diana olick reporting. the likelihood of buyers with falling rates not boosting the shares of texas based frost bank down nearly 7% in august a bank projecting that a fed rate cut could cost upwards of $1.5 million a month in net interest income. and morgan stanley downgraded the company on its exposure to floating rate loans. here to discuss is phil green, chairman and ceo of frost bank phil, welcome. good to have you with us let's start with refinancing are you seeing an uptick there and i assume that is good for you, even though people may be trading higher rate loans for lower rate loans, you do collect

fees on the transaction. >> thanks, tyler, for having me today. we have seen an increase related to refinancing overall, but really, to this point, it's been more inquiries on refinancing. if you've got a mortgage that was done say a year ago, it makes sense i think for them to consider that. we've been doing some refinancing right there. but we're going to have to see rates move down before we get a big increase in actual refinancing activity >> what would lower interest rates across the board mean for you and your business? we just cited that numbers that it could cost you a million or so, i think it was a month in lower net interest income. >> that's right. as it relates to that one item, there are a lot of factors, though, with regard to our balance sheet, what's coming off in terms of the tourism investments, those types of things, which have to be factored in to see what the

overall reduction in interest rates would be but i think with regard to the change in interest rates and what we see happening right there, you know, i think the most immediate impact of the fed's movements will be with regard to commercial real estate deals that were underwritten previously it's going to cause some benefit with regard to debt service cover ratios it's not going to make anyone's dreams come true as far as a 25 or 50 basis point cut. it will begin moving them down that road, and i think that the expectations that it will improve. maybe even more important is what's happening with the ten-year you've seen that move down, so refinancing opportunities in the commercial real estate markets have really improved in fact, we saw a deal in houston that's kind of multity family, which tells me for really good projects, those are

refinanceable. once you get to that stabilization period >> recently, morgan stanley downgraded your bank to underweight from equal weight. they cited that you have more floating rateloans than your peers. why are you higher than your peers? why are you "exposed more in that area" and how would you like to respond to that downgrade that cited that factor >> well, as we say in texas, that's what makes horse races. as it relates to why we've got so many floating rate loans, it's because we're a relationship bank. we tend to do more cni lending than our peers, which means we're doing business not just providing capital in real estate markets and the energy markets, but we're providing capital to main street customers and borrowers. it also provides, though, a high

level of demanddeposits that g along with those floating rate loans, and those carry low interest costs so i would argue we're a low-cost reducer as it relates to overall interest payment in our balance sheet. but i'll tell you what, tyler, the most important thing is, to me, is the look beyond what's happening with rates going up and down, what makes our shareholders money long-term, that's our growing relationships with consumers and customers it's our taking market share, providing great customer service and we're doing outstanding. >> one of the things that is of concern to investors about regional banks like yours is commercial real estate lending commercial real estate is not a monolith there are all different kinds of commercial real estate retail, am, multifamily, industrial, warehouse. can you walk us through your commercial exposure and tell us

why you're comfortable with what you've got >> well, you always have to say it's location, location, location so operating in texas overall for every one of those asset classes you mentioned, we feel good about the portfolio that includes everything from office down to industrial. i'll say that the largest segment of the portfolio that has the most by the way of say construction and maturities that are going to happen the next few years, take the example of multifamily. multifamily is asset class that we have got oh, let's say $800 million or under construction. we feel great about the way those projects have been underwritten, about the sponsors that we have they've been responding to cash and refis and that type of thing. but go back to what i said with regard to the ten-year when we have refinancing rates now around 6%, if you are a

long-term holder, you can refinance it long-term if you are a merchant builder and you want to sell that project, cap rates have been very behaved in fact, we had a customer sell on a project in north texas. it was significantly in excess of the loan amount so i feel great about the projects i think the way interest rates are moving helped overall with regard to the dynamics there and also just the state's activity and people moving into the state cause people to need housing. even though that stabilization has moved from what was underwritten to 12 months, it's probably more 18 months these days because of the supply that's come on the market. we haven't done a multifamily real estate deal since october of last year that tells you that the numbers don't pencil out for the equity holders. it tells you that supply is not continuing to hit on the

marketplace. by 2026, you're going to see a really demand for the multifamily product that hasn't been put in place over the last couple of years. so we overall, we feel very good >> phil, thank you for your candor and being with us we appreciate your time. >> absolutely. >> phil green of frost bank, chairman and ceo coming up, san francisco dealing with some growing pains when it comes to the rise of robo taxis we'll tell you what's keeping the bay eaar residents up at night. that is next

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welcome back, everybody. do waymos count electric sheep no one has been getting much shut eye in san francisco, after a parking lot full of robo taxis were blaring their horns late at night. maybe it was a mating call, i don't know deidre bosa has more >> they're all over the bay area the san francisco streets by day. this is what they look and sound

like by night. [ horns honking so, these cars need to be parked somewhere at night this is where they go. and the honking is a feature that wamo, owned by alphabet, implemented so they would be safer when someone backs up another car with a human driver, they would honk to let them know they were there. it is keeping these residents up you can see that it's surrounded by many buildings, annoying them and one resident even started a live blog. what you're looking at now to keep track of the activity this is such a san francisco story, tyler this live stream is made up of a webcam picked up from the twitter office auction there's even a sharepublic excel sheet that she set up that lets onlookers track everything from honking to cars that have

become stuck this isn't new, tyler. as wamo floods the streets here, there's been incidents more serious than others. this may be a less serious one, but there's public backlash because of it. tyler, i rode in a wamo last night on my way to dinner. i have to say if you do not live near these parking lots, it is an easy, functional and safe experience, at least for me so far. are you coming to san francisco any time soon? >> i will definitely do it i have had a full self-driving vehicle. i've just discontinued that, because i did not find it reliable enough in certain instances, and it scared the bejabbors out of my wife, jo >> that is one that required you to sit in the driver's seat? >> i had to sit in the driver's seat, hands lightly on the

wheel, eyes focused on the road. >> you can't even touch the driver's seat or go near the wheel. you have to put all of your trust into this robo taxi. >> yeah. but that first video you showed, it looked like chaos to me >> it is chaos and it's funny how many people wamo now touches in this community. one of our hair and makeup artist has a trend who lives in one of those buildings and is filing a complaint with the neighborhood agency. and people are really upset by this >> it sounds like the upper side of new york. deidre, thank you very much. now for a cnbc news update >> multiple reports saying new jersey governor phil murphy has selected his former chief of staff to serve out the rest of senator menendez's term who is stepping down after being found guilty of corruption the governor formally plans to make the announcement today.

a faulty power cable may be to blame for greece's worst wildfire this year, saying it is the most likely cause of the please, killing one woman and torching about 25,000 acres. they say arson has not been ruled out. and joe biden is set to does ig nate the site of the 1908 race riot, that fuelled the creation of the naacp as a national monument. the white house secretary said wednesday the ceremony will be held tomorrow in the oval office tyler, i'll see you in about 30 minutes. >> looking forward to being with you in about a half hour coming up, klarna is best known for its buy now, pay later loans but it's beginning to look more like a bank the ceo will join us next. the ceo will join us next. we'll talk about that, plus th

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today's data show a resilient consumer, but it is one who might be willing to take on debt a recent bank rate survey reveals 40% of u.s. adults are willing to go into credit card debt for discretionary purchases. on the thin tech side, about 80% of americans have heard of buy now, pay later, while 14%, one out of seven, currently have one of those loan arrangements my next guest's company is one of the biggest players in that space, and is hoping to attract more customers by launching two products more closely associated with traditional financial services a personal account and a cash-back rewards program. joining us now for a first on cnbc interview is sebastian siemiatkowski, the co-founder and ceo of klarna. welcome. good to have you with us >> thank you for having me >> are you joining us from sweden

>> that's right. an unusually and sunny day >> glad to have that my family comes from norway, and they're delighted when it's in the 70s over there let's talk about this new product, which enables your customers to open an account, as i understand it, seeded with money that is transferred over from some other source, a bank account, and then use that balance for purchases and, in return, receive some cash back rewards. have i got it right? >> that is right the funny thing is it goes back to my early days as an mp of burger king. it was a few years ago but you may remember the same thing in the u.s when you used to use your card back in those days, there was this question, press one for debit, two for credit. and the fact that cards worked that way was very healthy, because it reduced the debt that you were reporting on, because

if you put some on your debit and some on your credit, your bill was lower but banks removed that so we provide better, more healthy interest free credit options and the debit. and today, 30% of our volume on our network that processes over $100 billion globally annually is already debit and now these features store money on our accounts to spend that money >> that feels -- go ahead, i'm sorry to interrupt go ahead >> no, no. in europe, we can also ufoffer p to 3.5% on that money. that's not there in the u.s. yet. is s >> so in europe, this would be an interest bearing account in addition to convenience account. i assume that what you have are

arrangements with retailers, service providers and others to accept your service as a form of payment, is that correct and then as a subset of that, there would be some who would be willing to help you subsidize cash back to your karlcard holds or participants, right >> the way people think about us is a buy now, pay later company, but i think about it as we're a third party network. the benefit of klarna is in that network. almost over 50 of the top 100 u.s. retailers now offer klarna online and that has driven us to over 30 million consumers using the service. and they use it for credit and debit. it's predominantly credit based in the u.s in the u.s., debit is still

extremely expensive for retailers. in the u.s., they pay 150 bits so the debit size is an extreme opportunity for somebody coming from a much more cost conscious environment. is that is is a big difference here i think increasingly retailers are resisting the transaction fees that the transaction companies are charge, whether on credit or debit card talk to me about buy now, pay later and what your delinquency rate is or your bad debt rate is on those loans >> again, since it is a healthier form of credit compared to a credit card because of the option of debit or credit, because you pay back in installments, and you never really know when you're going to pay it back. so fixed installments, zero interest means that the average outstanding credit is $100 to

$200, versus $5500 on a credit card rate. so we attract a very conscious what we call self-aware avoider. people who have been burned by the credit card industry who want preferred debit and that is about 20% of the u.s. population. so not surprised to see the growth of that and the losses in that population are actually the loss that we see and by underwriting and realtime are 20%, 30% below credit card industry standards so overtime, it's a healthier way. that means you're going to have lower losses than you'll see in typical credit card portfolios >> there is rumor that you're going to ipo here in the united states at some point, maybe later this year, maybe not what can you tell us about that? what are your objectives in terms of a capital raise, and can you give us any hints about timing >> well, yeah. i think that for us, coming back -- i was looking at your

episode on waymo, which was funny to see i had the opportunity to be in san francisco this sum we are the kids to experience waymo self-driving cars used to be a big thing a couple of years ago. we believe in the digital financial ai power system that's going to replace the incunbance of banking. now, as we have over 30 million users in the u.s., we have over a billion in revenue in the u.s., and we have profit in the u.s., we have checked the boxes that we thought were prek requisites for a successful ipo, but we still have so much growth, and there's still so much opportunity in the u.s. and globally so i think all of the stars are there, it's just a question of

market preparations. so, you know, all the things are there -- >> let me ask you a quick question your children, when they become your age, are they going to even remember what a banknote or a coin looks like? are they going to use cash at all or is cash going out of business >> we're going to -- i never carry cash it's just impossible i only use apple pay, you know, digital payments, so it doesn't -- and the apple pay is part of my klarna card if they look at those -- i think more importantly than that, are people going to remember to interact with the tedious process and the sense of like please, can you have me a customer it's been -- it's not competitive enough and now there's an opportunity to provide real value for

customers. we provided them with making them more in control of their finances i think you're going to see a massive shift. >> got to leave it there, sebastian. thank you for your time. enjoy the nice weather in stockholm. >> thank you so much we're going to be right back after this i just spilled all my tewar everywhere i'm a klutz. i'm a klutz. what can i say i'm afraid i can't do that, jen. ♪ (suspenseful music) ♪ why not? did you forget something? ♪ (suspenseful music) ♪ my protein shake. bye jen. nasdaq-100 innovators. one etf. before investing, carefully read and consider fund investment objectives, risks, charges, expenses and more in prospectus at invesco.com. [♪♪] your skin is ever-changing, take care of it with gold bond's healing

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what do they have all in common they're all among the celebrity brand ambassadors for the men's hair color rewinded ten, co-created by artist fat joe he's here at cnbc headquarters, along with the c othireof e ha

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ulta beauty rallying after berkshire hathaway revealed it bought 600,000 shares of that company, but warren buffett is not the only big name getting into the beauty business our next guest recently teamed up about the hair care brand it's a 10 to create a hair and

beard coloring product for men joining us is grammy-nomnamed artist and co-founder of rewind it 10, fat joe, and carolyn aaronson, ceo of it's a 10 hair care welcome to both of you thank you so much. >> thank you for having us >> fat joe, i was on vacation the last couple of weeks while i was going i said i'm going grow my beard. i got to as i point where i looked like methuzala. it was gray. it was itching if i had known about your product i might have kept it >> it would have worked out. it's sensitive for your skin, ammonia free you know, we say why fight the time when you can rewind the time >> yeah. >> why look 50 when you can look 40, why look 40 and you can look 30 rewind the time. >> i think one of the things that is curious to me about hair care products and hair coloring products is the idea -- and i have experience with, this i'll be transparent here -- is the idea that i'm afraid to do it

myself i want someone in a salon who's got an eye for the right -- knows what they're doing to put on the right product, to leave it on the right amount of time, so that it doesn't look jet black when i don't want jet black. carolyn, what can you tell me about that >> i totally understand that feeling. and my 41 years behind -- within the beauty industry, 18 of it behind the chair actually doing exactly what you go to get the service for, has really led me to solve the frustration that you and so many other men are feeling out there. the fact that you don't feel you can do it yourself, you aren't expertise enough what we have done is put professional grade italian color all in one little box with the gloves, with the applicators, with really simple instructions, with a little mix tray, with everything you need there. and we've also put very soothing ingredients. so you're actually -- your skin

won't irritate from it we always say make sure you do a patch test first because some people are allergic. but we really raised the bar with the men's hair coloring it's about time. >> yeah. >> men deserve it. >> now you obviously don't need hair color i can -- how smart am toy realize that >> yeah, but i do my beard >> you do your beard yourself? how did you get over that hesitancy -- >> i've been doing this a long time i'm one of these guys that white hair bothers me. >> yeah. >> the minute i got it -- i was only 26. i've been doing it since i'm 26. >> is that right >> yeah. becoming a product of the product and being frustrated with all these other brands -- >> you look 36 now >> thank you so much >> because you got the nice color -- >> on the screen you'll see a picture of me with all my white hair, the before and after >> you look good both ways i got to say >> but notice the definition difference they're using -- they're using hair dyes now to define their styles barbering has gone to a whole

other levelin the industry to define a hairline, a beard it really adds a lot of style to what you already have. so maybe shaving it down very closely -- you didn't have to keep it long like yours. >> where can i get this rewind -- is it online, in my cvs >> it's in sally's beauty. >> sally's beauty. >> number-one product male or female >> that was my ex-wife's name. maybe i won't go there >> maybe you can get it -- >> we have it other places >> starting october 4th, we're in cvs >> okay. all right. >> rewindto10.com as well as amazon we are all over, and we're expanding as of early 2025 in two major additional, large -- the largest big box retailers. >> final question for you. i know you have gotten involved, interestingly, in pricing transparency in hospitals. why, and what are you doing? >> over 100 million americans

are in debt due to health care pricing. so if we're able to know the prices, then we can shop around and get the best price from the leading hospital and so i do that with power to the patients and it's a form of giving back to our people. we don't call them the voiceless. we call the people that can't get their voice and their opinion heard like that out, speak up for them. >> fantastic congratulations on that initiative i'm -- i am totally with you on that it's -- it's unnecessarily complicated, the pricing in hospitals and health care generally. good luck with the product travis kelsey -- i guess -- i guess -- >> d.j. khalid loves it everybody loves it >> all right carolyn, thank you, as well. we appreciate it that will do it for "the exchange." i'm ingog to join seema mody for "power lunch" on the other side

"power lunch" on the other side of this quick break. meet kandi technologies. where innovative, eco friendly design meets exceptional performance. our diverse portfolio includes utvs, go carts, golf carts and e-bikes. explore electric investment opportunities. kandi technologies.

welcome to "power lunch," everybody. alongside seema mody good to have you with us, i'm tyler mathisen wall street breathing a sigh of relief today as the consumer continues to prop up the u.s. economy, consumer spending jumping in july. retail sales up a full percent walmart's results also not as bad as feared, not at all. and that seems to be giving hope for a soft landing scenario. plus, the ce