welcome to "power lunch", alongside kelly evans i am tyler mathisen. vp kamala harris bowing to crackdown on high prices with a particular eye on food and groceries. will talk to our celebrity chef wolfgang puck about rising food prices and what the government could do could they convene? >> writing up the screen on draft day and doing it ever since on youtube, tiktok and every form of social media, before that let's get a check on the markets all three averages on pace for the best

week of the year, s&p up 4%, the nasdaq up 6% and a couple are a percentage points away from their all-time high. >> what changed in the last week or so to cause the selloff to turn into a rally? joining us with more, you know it was 10 days ago, mike, after the jobs report that the whole world unwound. >> the significance seems greatly overstated. >> now the best week of the year and it's okay? >> hard to overstate in the moment when it was happening. down 3% in a day down 12% in the uk. something was going on. something that changed was nothing else >> reporter: see you did not have any spillover effect so you could set aside the idea that there would be a chain reaction of other lines of leverage, but beyond that i think we were in the midst of a

growth scare after the monthly jobs report. you got some reassurance with cpi benign and you got retail sales. the market reaction i would say in the last six or seven trading days to pretty good or a couple of pretty good weekly unemployment claims reports and a good but not gangbusters monthly retail sales number and pretty good earnings suggest to me not that everything is great, but we really did hunker down and have low expectations or really were kind of saturated in the idea that july showed a falter in consumers. so you overshoot one direction and then correct. >> i like what you said of the beginning. nothing else >> reporter: yet. >> there was some real exaggerated moves in so many respects, many people have recited this, the volatility index of s&p, it went above,

interesting because even that was a weird phantom number at a blink in time, the math that calculates was there, but nobody could trade at those levels. nonetheless above 35 closing, goes down below 15. pretty much its fastest deflation of volatility ever. it shows you that underlying, earnings came through fine, still a baseline demand for stocks, corporate buyback, continue to think at the high which one month ago today was the record high, july 16 and you know you're down a little bit from there, but semis are down, there are signs there is a ongoing rethink of all the high momentum stuff that got us to the highs. >> feels like a continuation of the post pandemic theme that nothing is working like it is supposed to which is fine. that's why they are markets. even with the economy the leading indicators have not worked. it is just a waiting game, with

the market too over 65 and then all fine, but maybe it is in. >> should not go over 65 when you are within a few percentage points from record highs so the intensity of that, many quantitative panic i don't think humans panics really much. now, crowding in trading and the fact that everybody had a lot of bets piled on top of one of each other was saying we think things will be calm and when they are no longer calm you race for the exit. you can be assured that particular storm is over. it will probably take mental badness to get us to retest the low and still in a weird seasonal period. >> okay mike, stay there because the next guest says the market and economy are in a sweet spot that could be setting up for potential disappointment. let's bring in cnbc contributor by phone, the founding and managing partner of branch global capital advisors. welcome, good to have you.

why do you see are setting ourselves up for disappointment? what are you pinpointing? >> i think it harkens back to something that mike just said. it's not that something broke, it's that we were suffering under the idea something had broken. so the 4.3% unemployment rate should not have been that surprising. we had at the month before, the fed projected that, to embed 2% inflation we needed to get to around that. a jobs number of 114,000 again should not have been alarming. we saw zero basis points quarter over quarter for may, 10 basis points for june which compares to 30 and 40 in the months before that. which we naturally should have implied what led to a low jobs

number. by the way we saw 150,000 in october. the last thing people were throwing out to say the world was ending for those few days was ism manufacturing of 46.8 as the traction should not have been that alarming particularly factoring the service number of 51.4. yet, we had those who were calling for emergency rate cuts. which by the way, if you were doing that 10 days ago you should probably still be doing that today, nothing has really changed. if you thought it was necessary then why not now? the reason i worry is because we have got a glimpse into how the market would react. if we had real deceleration and that was not it, is going to do so mild, sure. the consumer is stretched, we have data to suggest that and i don't think they can embed inflation without deceleration from here and we saw how the markets going to react when it starts. >> so, what i think i hear you say is here were some signs of

what a real slowdown might look like. rising unemployment, slowing consumer spending and we got a taste of what the market reaction would be like. right? >> that is right. >> since then as more pointed out a lot of the numbers have been relatively more benign. consumer retail spending was pretty good, the cpi was okay, walmart is doing okay. people are spending money. so a lot of that were he has dissipated it seems. greg, are you there? >> i agree and this is why i say , yes, hello can you hear me? you guys got me? okay. i agree tyler, this is the underpinning of why i moved to neutral six weeks ago. we really have a sweet spot

right now. gdp growth doubled in the second quarter, projected to rise slightly in the third. best bearing growth we have had since 2021, but the unemployment number, particularly if the fed elects to leave it and i think they will i am often in the minority, but i don't think that will cut in september, they don't have to. the retail number bounces back in a big way at 1% for retail spending but nothing is broken in this economy and we are reaching the point where we have some price stability. i don't think they will isk the newfound price stability with a rate cut, particularly when they fail for three years. >> you are right, you are in the minority with respect to whether there will be a rate cut in september or not. what would be the reaction of the market if there is not a rate cut in september because

boy it sure looks to me like the market is pricing one in. >> not only pricing one in but it seems like the center of gravity from the committee based on comments is moving in the direction of we have set the scene for this. we have enough assurance about inflation that it is time. reasonably that's one week from today. the message at jackson hole. if you look at the framework going into this, this is where inflation would be now and we are below. the fed funds rate way above the rate of inflation and the neutral rate, way above the two year note yield and every other indicator of where perhaps would be a normal rate. so they will characterize as normalization not accommodation, that's the case for you while. a we are restricted now, we just have to become less oh. the absolute case for the market they go slow, they move in a way that is not feel like a hand is forced. it is really just kind of reacting. >> some emergency situation.

>> a slow return to some version of normal. we will see if we get it. >> gregory branch, final thought. >> i largely agree with mike. i would not be surprised either way, i am doubtful that they will, with gdp looking like it's accelerating and earnings growth accelerating. remember we need to reduce consumer spending to bed 2%. i would not be surprised if mike is right, my thinking as they will put it off. >> okay greg, thank you very much. michael santoli have a great weekend. >> mike will be on tonight's special at 6:00 mid eastern. thank you, we appreciate it. inflation nation, vice president kamala harris unveiling her economic plan to crackdown on higher prices for groceries, food and more. will the promises move the needle for restaurant owners? we will ask chef wolfgang puck

about that, when we return.

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vice president kamala harris today laying down her economic proposals, chief among them bringing down high prices for drugs and housing, also food and groceries. now from washington with more on some of the novel twists in the plan from harris. >> these are the most detailed policy plans we have seen from harris since the start of the campaign, she is said to speak in a few minutes in raleigh, north carolina and billy four part agenda. you mention drugs at the top harris with the cap costs for insulin and prescription drugs and accelerate medicare ability to negotiate prices. on housing she would use tax

credits to incentivize builders to construct more homes boosting supply and offering $25,000 in down payment assistance to the first time buyers. she wants to block wall street from interfering in the rental market. lower grocery cost, she was to break up extreme consolidation in the food industry and finally a tax component including expanded child tax credit to provide $6000 for families with kids under the age of one. for all the talk or expectation she's doing the opposite of moving to the center, her campaign says more is to come but there are no details on trade or tariffs or energy or china. aspects that are front and center for the trump economic agenda. trump slamming harris plans and offers his own ideas including drilling for more oil and extending tax cuts. economists see the risk from both candidate plans so it is worth noting for now it is

loosely campaign rhetoric and the main focus is winning voters. >> let me ask you a question on the food. the way you expressed it was she wanted to target what she sees as over concentration of economic power in the food business and i guess she's thinking of meat packers and someone. than there have been some headlines that she was going to call for price caps, price controls on food? that is an old playbook item out of the nixon years. >> you are right, a policy gaining headlines and a lot of concern. she wants to pass a federal ban on corporate price gouging sitting grocery stores and chains have been rising prices too much and winning huge profits and that's the reason voters have seen the high prices when they check out at

the grocery store. it is not clear if there is room in the profit margins them to give back any of those gains and it is not clear if that would pass. we do know from reporting out trying to figure out where the policies come from progressive democrats want to see the vice president embrace this proposal. that's where we get into campaign rhetoric, groceries, it's the mantra of the progressive democratic wing of the party to say this is something voters are worried about. this gives them something to blame. >> really interesting. we will probably hear more about that next week in chicago at the dnc. spent our next guest owns and operates within 20 restaurants around the world catering to the high end consumer. let's welcome back wolfgang puck. great to have you. earlier this week we spoke with other restaurant owners who are dealing with high end inflation

so what's your experience? >> my experience is labor cost has gone up consistently. now we have to be competitive because if we don't have competitive pricing, we will lose people to big operations, big hotels and so forth. so we have to be competitive and it is still cheaper to keep good employees than getting new ones. so, labor has been a problem. the food, over the last year, food prices have not gone up in the main categories. some have gone down like wine, the more expensive wine going down because it is a lot of wine in warehouses and so forth. so, what a problem is, in los angeles for example compared to last year or the year before, we had so many people coming on vacation that this year i think

it is at least 20% less traffic here in los angeles. when i went to the airport or i see the hotels and restaurants, you know, there is empty space now whereas before after the pandemic especially, there was so much, you cannot get a table and i think that's really difficult. we have to manage better and worry about labor ost. the food cost for example from last year over to this year it's about the same, the expensive prime cuts. over the last four or five years since the pandemic, since 19 it has a rose 10% because it went back down a little bit because there was a lot of beef and things like that where they cannot sell it. >> so, i hear your point, i'm very interested in it. i am hearing you say that when i go into a restaurant and i

see that my average check is $20 higher, going from 40 to 60, or whatever it is, most of that increase is attributed to labor and rent with less of it attributable to food cost. >> absolutely. i think the food price has stabilized over the last year. 's we don't have this influx of price hikes for fish, produce and beef which make up the most. there are groceries like cleaning supplies and so forth, they are more expensive, they went up over the last year like by 10% or so. i think the rent has gone up a lot. i think especially rent for employees. 's we have to adjust employee salaries so they can pay their rent because rent is out of control. also a big effect is that rent is so expensive so a lot of

younger people, they don't have the money, the income available to go out a lot. they have to cut back a little bit. >> you mention a slight slowdown in tourism n the los angeles market. maybe they're waiting for 2028 and the olympics, what about las vegas? >> i hope not. >> what about las vegas, what about orlando? >> orlando, as you hear about disneyland traffic is down in the theme parks so they will have to invest a lot of money to get traffic up. it is rather expensive to go to disney world or disneyland. so i think we see it in the restaurant in orlando. we also see it in las vegas. restaurants, for example, traffic was slower this year than last year. at the mgm grand which caters to the middle class, they really still had good traffic

in july. for us, july was one of the slowest months in the last five years since we reopened after the pandemic. so i think certainly, we feel a little bit uneasy in the economy. we are not willing to spend money or if they do weddings, they scale them down so it is not so much people are celebrating like after the first year or second year after the pandemic everybody had cash, people do not spend during the pandemic, some people had more income to spend. >> i am curious. we have seen some restaurant concepts working well. the likes of sweet green, it is value and fresh, others feel a little more tired with high price points not motivating computers desmet consumers. when you think about the mix with price points, what will drive traffic the most?

>> we have to reengineer the menu a little bit to be more price sensitive. at the same time we want to attract customers and get customers in the doors. so i know a lot of restaurants which are not as expensive which are very price conscious. they are still doing very well. we see it with us at the mgm grand. it did very well so far for the whole year, but the average check is maybe $60 where the average check elsewhere is $150. so i think that top line $150, we have to think a little bit, how can we give people options where they can spend maybe $100 or $80 and still get in the door, have a decent bottle of wine or a cocktail so we can keep employees and hopefully people will start going out

morgan. >> i want o end with a question that will probably take one hour to answer, but take your quickest shot. i have had a longtime academic interest in what separates companies like yours that have been able to sustain excellence over a period of decades. you began in the early 80s and you remain relevant and successful throughout that time. there are others, as well and other individuals who will become exemplars of sustainable excellence like lorne michaels at saturday night live or bob auger. what would you say is the culture of excellence you have been able to foster? how do you explain your enduring excellence? >> our company is very customer centric. so we want to give people a great experience at a decent price still. whenever gouge customers. we always try to be price

sensitive, even in the upscale market where it costs a lot to operate even. for me, it is always in the long run. is not like football 1 quart you play well and then not the next, we play really decent over the years. opening in 1982 and it is still one of the busiest restaurants in los angeles on the west coast. so i think people, for me customers come back. so it is the intention of the customer is most important, how we make people feel when they go home. for me a great customer is when they go home and say i'm coming back tuesday you know. yesterday i had a table with six people and they said will you be here tuesday? i said yes, why? they said they want to come back. so, you have regular customers, it's really important and that's what we strive for. everyone has to get the experience, not just vip

customers. a lot of people come from out of state, out of the country, especially in the summer and we wanted to go home and tell their friends. we went and had a great experience and i think word-of- mouth for us is still the best advertising. >> wolfgang, thank you so much, good to see you. speaking of food, our trader with a appetizing stock pick. market navigators are up after r e break. ouexclusive segment to follow. 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 without the middle of your bag. how does that sound? that sounds terrible. ♪♪ ♪♪ ♪♪ ♪♪

welcome back to "power lunch", markets in the green as they look to close out their best week of the year. recovery from last week's drought with economic data coming in solid. back to picking stocks with the most promising mix of fundamentals and technicals. we are showing shares which he likes on the back of this week's chipotle news. welcome to your. >> thank you kelly, how are you doing? >> tell me about the broad idea and go ahead.

>> yes, sorry. interesting name. cava is a newcomer, restaurant stock, 11 billion with a lot of comparison to chipotle. a lot of news with aaa losing the ceo, it is a high valuation company. on the cusp of a breakout. i hold the stock, a small position and i'm looking to add. how you wish and is strong with consideration on that. you really want to watch the technicals, but the earnings are there. they are growing about 30 to 35 percent expectations for the next two years. bottom-line and topline 20%. campaign begins chipotle, the margins are consistently better, listening to wolfgang, what he said in terms of cost running 2% to 3% margins over aaa and chipotle is seven times bigger. chipotle is not cheap either,

trading at 50 times next year's earnings, but cava i don't want to say with a forward pe is, very expensive but the growth is significant and the key is, the college kids all go to cava. you have to have some risk management. >> what would you be looking for in terms of upside potential , when would you think of jumping out? >> absolutely. the breakout is clear to show the chart. write about 98 or 98 1/2. this is a take that has been busy. not worrying in the discretionary spending space which has been under pressure. if we break we should get up to 120 or 125 but i want to cap risk below 195. i am looking to add another percentage to the holdings if we get confirmation from the broad markets that we might bump up to the resistance. high valuation high momentum high-growth. lines are out the door, we do

not see that at chipotle. i'm willing to play with that high valuation. >> up 130% and more to come, thank you for joining us today. we really appreciate it. meantime, h&r block hitting an all-time high after a dividend hike and share buyback plan was announced. is it too late to buy some shares your self?

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 ♪ (alarm sound) ♪ amelia, turn off alarm. amelia, weather. 70 degrees and sunny today. amelia, unlock the door. i'm afraid i can't do that, jen. ♪ (suspenseful music) ♪ why not? did you forget something? ♪ (suspenseful music) ♪ my protein shake. the future isn't scary. not investing in it is. you're so dramatic amelia. bye jen. nasdaq-100 innovators. one etf. before investing, carefully read and consider fund investment objectives, risks, charges,

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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. time for today's three stop lunch. here with our trades is our cnbc interview, chief market strategist with hightower advisors. first up we have nvidia rallying above a key level extending a win streak, up 20% this week. your trading on that beloved stock. >> on that beloved stock i'm going to tell you to buy cautiously. if you don't own it. you have to get into the water.

this is the hottest area of the market. as long as the race for ai and a battle to continue to create a i continues, this stock will do well. they are looking for 40% growth and earnings from this company over the next five years going from 48 times earnings, 24 up to 34 times next year and coming down with a large earnings grow. so, it has performed beautifully well. a cyclical area, probably has a few years left, but the ai impetus that's driving the earnings, i think it can take the stock higher even at $3 trillion in the market. >> if you want to establish a position this is a dollar cost average in? >> i think so. if you have a blank in this space i would want to have a position, does not have to be full, but it has to be keeping with your discipline and philosophy.

it cannot be inappropriate risk for your portfolio, check with your advisor. >> h&r block one of the biggest movers today up 12%, all-time high after topping fiscal fourth quarter earnings estimates. look at the performance, up 66% over 52 weeks. what are your thoughts? >> my thoughts, i wish it had done this when i owned it years ago. this stock never moved, i ended up selling where i bought it. this stock has had a great move and the rule is to buy low and sell high so i would sell this one. more of a fade, not it the sell button and break glass and run out of the room. no need to do that, but at 12 times earnings this used to trade a seven times and it has hovered around 7% earnings growth. i think longer-term it is a cell. >> finally, downgrade from bank

of america today due to consumer headwind in china and the u.s. the beauty and skincare brand reporting earnings on monday so your trade on estee lauder? >> if you look at the chart, sorry folks at estee lauder. this was $165 a share, it has fallen almost a straight line below $95 a share. a little bit of dividend at 2.7% , but i think it's too high still and it could go lower. watching those earnings on monday if i can watch and by all to beauty i'm looking at all to beauty is that of this company at 24 times earnings i just don't get any compelling story here. if you look, when you see chipotle falling when you see starbucks rising 20% the day up and chipotle drops 10%, the

trading in me says sell the starbucks and buy chipotle. i want to sell what's tearing up and chipotle is a good company. that's the way you have to think about this. >> final question and i ask because we are friends. shorts or long pants? >> shorts and flip-flops tyler. below the camera. i'm trying to make hanks proud. i don't have my cheerios. it is hot in here. >> it is getting hot in here. michael, thanks. >> now let's get over for a cnbc update. >> former preisdent trump announcing members of his transition team today should he return to the oval office. the cochairs are among his campaign's biggest donors, former small business and

ministration later linda mcmahon and businessman howard let me, he named jd vance as honorary chair along with his sons. world leaders are denouncing last night's deadly rampage in the west bank, residency dozens of settlers with masks entered the village, burning cars and homes killing one palestinian. a call for settlers to stand out has been made. united states, france and the uk condemned the attack. stride president biden signs a proclamation to designate the site of the springfield, illinois race riot as a national monument. the tragedy which killed several black residents was the tipping point that led to the creation of the naacp. the designation comes on the 116th anniversary. be sure to follow and listen to "power lunchwhe " er

we go on any podcast platform. you can stream our podcast today. we will be right back.

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and bond market yields are slightly lower following the big move yesterday. let's get out to chicago for more. >> yes indeed, looking and a couple things i want to point out. yesterday we saw yields pop, that's the left side, notice the peaks on the left and right are very similar. that's because right now the two-year note is virtually unchanged on the date down a couple basis points, up one on the week. now let's go to the longer maturity, the tenure with the left side and the right side, left side is lower. long-term rates even though they represent a better glimpse of a deficit have been easing back. we have a yields a little bit lower and on the wager down five basis points on a weekly perspective only down two on the day. when you consider we had cpi, retail sales, all the crosscurrents it's rather

amazing we are so tight with respect to friday's levels. taking a step for the right now we are unchanged on the year and very quickly this is a high- yield etf trading at a two-year high. defect exhibiting is too tight so i question why is everybody buying high-yield and junk? that's a question i would like to hear the chairman answer. back to you. have a good weekend. the nfl season is a few weeks away, but stock draft competition is meet season. leading the way his and with a 44% gain after his second pick. coming up we will talk with another one of our competitors. the comedian, druski. nky as a sense of humor as his team is down 3%. we will be right back. [♪♪] your skin is ever-changing, take care of it with gold bond's healing

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as we look at current stock draft standings, probing leads, thanks to . right behind them

is eddie george. current guest in eighth place representing team for life, picking nike and google here with us today the actor and comedian and content creator druski, welcome and good to have you with us. nike has been struggling a good bit. >> a lot it. you have to ride it out sometimes. i am with the company and even though there might be insider trading going on, you know we just did a commercial with them. i think it's going to start to rise again. after they see my face so much on the tv. >> i can see why. >> do you think they are still cool? maybe the women's sports, to have caitlin clark. >> at some point i need return of investment. i hope so.

we've got some money. >> your the pick was google which is up 5% since the draft, nothing shabby there. >> a little bit of a gain. 5%. we will take that. 5% in a couple months. we did this in april. are you much are you much of a? >> somewhat. i always talk about capital gains, like i said, return on investment. so, yeah. i don't know exactly what i'm talking about it with, yeah, yeah. you're right. >> that's all right. most of the people at cnbc don't know what they're talking about either. >> or sports betting. >> but i love to shoot around the words. sounds cool. >> that's right, that's right. my big one lately has been the carry trade. >> the carry trade. >> you are smack in the middle of the metamorphosis that is taking -- big word. >> slow it down a little bit. you're throwing words at me now. >> i use fancy words. >> i started it, yeah.

>> but you're in the middle of all the changes that are going on in the world of media because legacy media is shriveling as new media, which you are in, is expanding. >> yes. >> what led you there? and what did you see that, as potential, that you are realizing, you're getting millions and millions of views? >> i think a lot of people are just on their phones now. it's, like, social media has skyrocketed ever since, you know, covid and everybody -- >> if you want to reach an audience, do something that they can access on their phone. >> exactly. exactly. which is why a lot of these companies love to work with me. it's like, why wouldn't you come to your phone to watch everything? even news, any clips -- >> sure. >> -- whatever happens, sports, it's all on social media right now. people are kind of watching tv. but it's, like, the parents of the world. >> oh, you're hurting me. you're hurting me on so many

levels, you're just hurting me. >> i think people should be aware of how much success you've had and how quickly -- when you, you know, go from having a sketch to making it a youtube show to making it, how are you able to enter that quickly and get youtube, for instance, to give you backing. i have to imagine there's such a bogged down corporate process. how do you get an idea? are they reaching out to you? how do you get these partnerships and things off the ground so quickly? >> the main thing i wanted to do with our show on youtube, i wanted to make sure it was free to the viewers and the fans. i didn't want to go to a platform where everybody had to subscribe and bring your whole crowd over here and force them to do something where they just want to keep getting out -- they were getting it on twitter or instagram or, you know, snapchat, wherever. i think that's really what i wanted to do. and i really care about my fan base and i care about that people don't have to change what they were already doing. i want them to be comfortable being able to go watch me on a bigger platform. >> you also in this new media

world, you have to have what the market has described as a 360 approach. and you do that because you've got upcoming a live event in atlanta with lots of music stars, lots of comedians. what is it called? >> -- fest. >> and when is it and who's going to be there? >> it is september 7th. so, it's a met amorphosis of things -- >> oh, that's a big word. >> yeah, yeah. we have comedians coming, of course artists. i also have michael craft and michael ruben coming. >> wow. >> so, we're looking at expanding the label. it started out as a joke on instagram. now we've got a tv show. goeft a festival. you know, it's just expanded so much. but this show will be, like, the new generation of, like, what entertainment looks at live, you know? >> yeah. >> so, yeah. i'm super-excited. it's in atlanta, georgia, at state farm arena. huge -- i think holds 10,000

people. so -- >> or more. >> we're packing it out. >> almost sold out too. >> who are you working with in general these days? how many are employed -- >> you see how many people came in here. >> i see. >> about 20. >> you're like a ceo of a major -- so, you take the idea, you take success, and you scale it so quickly. >> it's about who you know. at the end of the day, you do good business with good people and continue to surround yourself with even better people. so, you know, we're trying to expand. and like you said, metamorphosis this whole situation. >> all right. druski, thanks for being with us. congratulations. we'll be rooting for nike on your behalf. coming up, the countdown is on forprivate citizens training for an out of this world opportunity, attempting a space wauk in outer orbit. we'll get the details when "power lunch" returns.

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♪ welcome back. take a quick glance of the dow, up 143 points, reversing its earlier declines. we've seen major averages with small gains across the board, about a quarter of a percent but enough to post the best weeks of the year. the next frontier in the final frontier for private citizens, not government astronauts, will launch on a spacex rocket. and while in orbit, attempt a space walk 400 miles above off. morgan brennan had the opportunity to speak with the crew, and she joins us now. who are these people? >> oh, wow. one of them we know well, jared isaacman. the countdown is on. the targeted liftoff is august 26th. i sat down with the crew. they're finishing training. and i asked isaacman why this matters for the space economy. >> leaving the comfort of going to and from the space station, which is incredible. but if we're going back to the

moon and mars, we're going to have to get out there farther in space where you've got more meteorites, probably need new space suits. you're going to want to get outside the comfort of your vehicle and explore the moon and mars. you're going to need new forms of communication when you've got tens of thousands of people in space. there's a lot of real development to do. that's what players program is to do. it's a joint partnership with spacex where we're testing all these things out. >> this is a five-day mission. they're flying higher than anyone since the apollo era. they'll do the first ever private space walk. but given the boeing starliner astronaut saga, i asked if that's impacting the way they're thinking about space flight and the risks of technology. >> i think we are certainly needing to continue to explore. we can't stop making progress and continuing to push technology. you know, there's so many critical objectives on this mission, and i know we're really

excited to get to them. i also know how much work the entire spacex team has put in to ensuring there's absolutely nothing we haven't assessed and looked at. >> of course they are testing these new space suits. sarah gills was just speaking. she's one of two spacex engineers in the crew. this is the first time ever spacex employees will be on. overtime, 4:00 p.m. eastern, the whole interview will be there. >> thanks, morgan. thanks for watching "power lunch," everybody. welcome to "closing bell." i'm scott walker from the new york stock exchange. and this make or break hour begins with the road ahead for stocks. with yet another key week looming, more important earnings along with fed chair powell jackson driving the markets. and they're not far from new highs. on that note, let's look at the scorecard with 60 minutes to go in regulation today. the major average is having a strong finish to a solid. it is the dow's best w