dan ives with a $1,000 price target reminder of how important this berlin factory will be dan, thanks so much. we appreciate it and that does it for us here on "the exchange." but "power lunch" starts right now. >> kelly, come on here here she comes, she is running welcome, everybody kelly made it. here is what is ahead. sector triple play, retail, semis, biotechs all play pivotal roles and present new opportunities for investors. we'll break down the stocks that our guests say are worth buying now. >> and delta variant is forcing manufacturers to shut down, we're seeing some empty shelves in some stores we'll speak to a grosser in the south about who is experiencing this first >> i saw this in my local market on wednesday night i went in, and it looked like -- i thought are you guys going out of business or something it really was amazing. and bizarre ending to an already

bizarre story, why the hacker behind one of the biggest crypto heists ever is being rewarded by the very company he attacked >> sounds like a new business model. but we begin with the markets today, the dow helped by disney to hit a new high. we're up 34 points the s&p also at records in today's session. the nasdaq clinging on to a 4 point gain >> and net fflix shares getting boost. shares have gone nowhere this year >> and ev makers have losses lords town motors, 6% since monday, workhorse and nio, just in today's session and weak consumer data is dampening the mood the market will be put to the test next week when the big retailers start reporting their

quarterlies. our next guest says that although retailers are enjoying easy year over year comps and record stock values, he thinks investors should be careful. let's bring in kevin in with washington crossing advisers good to see you. the new beard look, i like it, it is good why do you say be cautious, is it delta related, is it the fact that people may be running out of some of the support payments that they have been receiving or a little bit of everything >> yeah, i think that it is a bunch of those things. first of all, you have to acknowledge that these stocks have run up. number two when you look at the analyst forecasts for the retail thaers er that are about to report, most are expected to have numbers well above the pre-pandemic levels. so it is not as if we're having a falloff in expectations. and with the macro environment,

big drop maybe due to covid, but you also have the ending of forbearance, you have the ending of about $3 trillion of annualized transfer payments that will start to work its way in, and don't forget, you have a lot of shortages and higher prices too which are really making it difficult for consumers to spend too. so high expectations, maybe some changing in the macro environment, time to be a little careful here, look for quality >> and that leads me to my next question you are finding that quality in what i would call the bullwark stocks of retail target namely and walmart. >> somewure. if you look at retail the last couple decades, it has been a very difficult slide for many. a lot have gone away, names like sears, like kmart. a lot of companies have struggled in this new

environment. and that was before the pandemic so now we've come through the pandemic and we're hopefully on the other side, we really need to focus on companies that cannot only endure a tough economic environment due to the pandemic, but also can confront challenges and so we want companies with a lot of scale, a lot of flexibility, very good balance sheets, and we think that target and walmart are the way to go there. >> where does costco fit in this equation >> costco would be another really good company. if you think about all three of those companies together, if you are not buying stuff online, you really want to go to one place to get it all done and all three of those companies offer that kind of shopping experience for a customer. it is either online purely or online for pickup or one stop shop so in this environment, and with huge need for distribution, very important, not just what you see in the store, but the distribution network behind that, because we have trucking,

supply issues, there is a lot of logistics that come in behind this and if you can't compete with scale, you are in trouble. so those three, target, walmart, costco, those would be the three that we would identify as really the winners take all in this new retail environment >> kevin, sad thing is a lot of times they are certainly taking share from the mom and pops that couldn't open. so if you think that maybe the locals kind of claw back some market share, maybe that is a headwind to the big guys about but the learning that has taken place, the convenience is hard to beat and now the way that delta is dragging on, it makes you wonder, after a year or two of not being able to compete, a lot of their competition is literally going to be out of business >> that is true. and even before that it has really been all about scale. if you can't drive price to the consumer, if you can't get growth in terms of same store

growth and volume growth out of each store, you are really in trouble. so it is a very, very tough industry, it is only made tougher by covid and supply issues so it is about quality, consistency in operating earnings and ultimately you want to see assets that are very produce duc productive and you can find companies increasing their dividend steadily as another sign that points to quality. so that is with a washington crossing advisers is doing in the retail space >> kevin, great to be with you as always. thank you. >> you're welcome. and i like the new look. >> i like the beard. and as the pandemic is reinventing everybody. from retail to chips which are coming off a rocky several sessions, the semiconductor

index has been down for six straight days dragged lower by big slump in shares of supply materials. so where are we going next joining us is a semiconductor analyst. stacy, great to have you for everybody who is looking to semis as a bellwether, are they sending a warning signal right now? >> yeah, look, you're right, they have had a bit of a challenging week generally people are worried that we're getting closer to peak cycles. they tend to be anticipatory there is a phenomenon that happens during the shortage periods and we all know about the shortages that are going on where people when they can't get the parts that they need, they actually order more than they need so people are still unsure how much demand is real and how much is phantom and stocks tend to trade on what they call it the second

derivative we've seen things like notebook computers, chrome books especially, as people go back to work, those sales will start to roll off this is why the semi caps and memory names have fallen off but again, we're getting closer to peak and semis are anticipatory >> we want to be at peak inflation, we don't want to be at peak economy. so it is kind of a reminder that it maybe is all tied in together but i know you don't cover the memory name, but did you elaborate on the memory names? what are the data points telling you? there is a difference okay it is not going gang busters but still healthy growth >> that is true. but let's take memory. memory goes in to everything, right? so it is in some sense maybe people look at it as a bellwether it is also impacted very

significantly by supply supply and demand memory is commodities. pricing of memory is a function of the supply situation and demand situation so when pricing is going down, it means one of two things, either supply is getting better or demand is getting worse so this is why we've seen it as a bellwether although they have impacted much more the memory stocks and semi caps that are also tied to those, they are probably down 10%, 15% the last week or two a so certainly we've seen -- it is impacting everything, but is being seen in some of the broader cyclical widespread areas. >> in simple terms what is happening i think that you are saying is that supply is improving a little bit, but demand is improving maybe even a little bet more. >> no, the other way around is the worry.

for example pcs, we've seen signs in notebooks which have been incredibly strong, those are peaking and starting to roll over memory goes in to phones, servers, into everything that you can think about. so it is seen as a bit of a bellwether and memory stocks go with it and a lot of other things will fall off. >> what is the matter with intel? it has been one of the great companies -- i mean, it is just sitting right out there, it is a lay-up to me i mean, i grew up with intel it was one of the great companies of the last 50 years in america almost no company this side of apple that is more american than intel. >> look, so stock prices are not backward looking stock prices are forward

looking. and the intel today is not the intel of 50 years ago, 40 years ago, even 10 years ago intel has a lot of structural challenges and yes the stock is cheap, likely cheap for a reason cheap all by itself is never a reason to buy a stock just like expensive all by itself is never a reason intel is cheap for a reason. market share losses, they came out a couple weeks ago and told everybody that they will remain behind on process technology at least for the next four years. but we could probably have a whole conversation just on the issues of intel. but i think the stock is cheap for a reason and it is not something that i would be looking to buy even at these valuations >> i love how you said that. we talk a lot about value stocks and sometimes stocks are valued where they are for a very good reason and it is not merely that they are overlooked they have been looked at and people are pricing them where they are >> one thing intel is not is

overlooked >> yes >> everybody has to look at intel. intel is a bellwether of the space. they are the biggest company by revenue in the space used to be one of the biggest in market cap but intel is not overlooked. everybody is looking at all sides of that story six ways from sunday. >> stacy, thank you very much. appreciate your candor >> you bet and coming up, not all biotech stocks are created equal. two etfs are going opposite directions and we'll ask a top analyst how she separates the winners from the sinners and plus two new reports shed the light on inflation being good for stocks.

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seventh straight weekly decline which would be the longest weekly losing streak for the k web since its inception in 2013. >> i'm glad you had to pronounce those names and not i. >> it is easy, i don't know why i screwed it up. it is right in front of me sorry for those that are watching >> stuck the landing love it. >> let's zero in on biotech. a couple of the sector etfs telling a very different story ishares biotech etf up 5% over the past two months while the s&p biotechs spdr is down almost 7% all this as biotech grows in popularity with the reddit crowd. moderna one of the top mentioned stocks there here to help separate the winners from the losers, eliethia young, senior biotech analyst at cantor fitzgerald

thank you for joining us appreciate it. >> thanks for having me. >> let's delve into why one biotech etf would be so different from another i mean, i think that there is a real important lesson for investors as they look at different etfs because you'd think that they are representing the same sector so they must be basically a commodity product, a coke, pepsi. obviously not. >> that is right because basically the xbi has a lot small cap biotech companies in it and the ibb has an equal weight index so all of them are equal weight and as we know right now, the small makeup market in biotech has been pretty horrific, it has been very volatile and most of the stocks are down. so that is what causes this disparity, literally how it is weighted so it is a various point that you can have the same companies and just the weighting would be

slightly different and you can get very different returns. >> and so it is really a lesson in know your etf, know what is in it, know how it is constructed, know how it may perform under different scenarios, right >> absolutely. >> so let's talk a little bit about the reddit crowd and their interest in biotech. what do you think of the reddit crowd number one, and how does a company like moderna become a read reddit darling >> yeah, it is so foreign but just so new and it makes the market so much more interesting but also very volatile my perspective of reddit for biotech is that biotech is a hard space to invest in because you kind of have to know science and if the trials will work or not and the space is very volatile, things move up 100%, down 50% but now it is like looking at simple themes like vaccines. we all know the next variants

are coming so the simple biotech thing, vaccines will probably be more important. and it is like a moderna or a pfizer is the bellwether >> and so let's back up and talk about why small and mid cap biotech names have been such poor performers especially if the sector gets more attention from the reddit crowd. it almost reminds me of the professional investors who are always talking about the next big thing. why are those same conversations not leading to more interest whether from the retail public or whom else in these names? you know, i remember past years when these were the best performing parts of the market and valuations were very stretched. it would seem like now would be an interesting time to see more people trading them. >> i think that it is kind of like the difference between if you did this all the time every day and like simple things, number one, you know, for small mid cap investor, there hasn't been a lot of m and a this year. we thought there there would be way more people had basket portfolios

so people are -- and the second piece is that people literally like don't really know kind of -- like some of the stories are really complicated on the small mid cap side and it is hard to follow unless you are really into the space and a lot of investors are like wait, i'm trading out of biotech when the vaccines come because that trade is done. but you will see a divergence between the retail and professional investor. >> absolutely. so to your point about how there hasn't been a lot of deal making, it is one thing if the general public doesn't understand the drugs that these companies are working on, it is another thing if the big companies don't. is it that they aren't excited about the development that is taking place, are they distracted by covid or are there regulatory concerns? >> i mean, i think some of these companies thought the price was too high people are piling into small mid caps because they think it is inevitable that large companies

have to acquire small companies. because you just can't create a pipeline that quickly. and so i think people are like oh, no, it is not happening and then the stock prices are falling. but biotech companies like a large company, they won't overpay, that is irresponsible so there is that and i think a little bit of some of the spaces where fda is a little more strict about things and the agreements that they have made and so that is a fundamental issue that scares people and additionally, just the fact that there is a little bit more pricing rhetoric with democrats being in office, some of the infrastructure packages. so it weighed on the space a little bit more. and i don't think that it will last forever though. >> so fascinating. really appreciate it >> you really made a hard comic understandable thank you. >> i appreciate that, thank you very much for having me. >> now we need to go through some of the drug pipelines >> very conversational on a tough topic. >> and further ahead, first a hacker stole millions and returned it and now he is a hero

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welcome back here is your cnbc news update. cdc advisers are now recommending a third dose of the pfizer or moderna covid vaccine for people with compromised immune systems including organ transplants patients and some people with cancer or hiv. the group represents just under 3% of adults in the u.s. military base in washington, d.c. is on lockdown after a report of what officials are calling a potential armed individual on the site the city's police department says that it responded to reports after shots were heard near the base there. bo is taking its "starliner" back to the shop for trouble-shooting it delayed its launch for days removing it from its atlas 5 rocket they will have to wait several months before they can try again. and in one section of scotland, it may feel like you are seeing double because 15 sets of twins will be starting school next week they posed for photos today.

so cute. they are known for producing a lot of twins which is sometimes called twinverclide. incredible and so cute. >> what, are they catching it from the environment i'm so confused. >> nurture versus nature i don't know a very good question but they are very adorable >> tie leytyler, i'm speechless. how do you get more twins than normal in a player area. >> i don't know. >> we'll have to send through to report it out. >> to scotland i'm here for that. let's take a look at the markets. the dow is basically flat. the s&p 500 also very marginally changed. and the nasdaq kind of flat, that doesn't mean however that there aren't interesting stocks to talk about. we talked a lot about airbnb yesterday, reporting solid results. bookings climbed 29% from the

first quarter. and 197% year over year. revenue a 300% increase year over year. jeffries as a result reiterating that stock as a buy. so where is the bad news the company warning it is bracing for volatility from the delta variant that could put a wet blanket on demand. you can read more about airbnb on cnbc. and dillards stock up over 640% over the past year. >> a huge gain off the lows there. ahead, supply chain issues are worsening according to bank of america, the cost of shipping a 40 foot box went up to 10 grand today. and there is plenty of other example on the micro level with grocery stores especially lately we'll speak to the ceo of southeastern grocers is about what he is seeing or not seeing, next

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oil dipping again today but managing to stay in the green for the week today though demand concerns once again weighing after china shut down the world's third busiest port after one worker tested positive for covid. this follows the international energy agency downgrading its demand outlook while goldman and jpmorgan also slashed their forecast this week amid a spike in covid cases let's get a check on prices here wti at $68.24 for a loss of 1.25%. brent crude down 1.2%. and since it is a summer friday, got to get a check on gas prices average is $3.19, just about in line with last week. >> have a great weekend, thank you. and now to the bond market yields on the ten year are flirting with some key levels and rick santelli, hope you have a good weekend too, rick he is tracking the action at the cme. >> i will, i'll tell you what,

and i'll be looking at all the charts this weekend because for all you technicians out there, the treasury market has been acting beautifully right along with the charts. today we had a first glimpse of how delta variant is affecting confidence and it was in a large way. 70.2, a ten year low on university of michigan, it is an august preliminary, it still may change look at how it immediately effected treasury rates. immediately dropped under yesterday's low yield and wednesday's big auction day at 1.33, all of that of course now in the rearview mirror as we just dipped under 130, so now town on the week in tens, 195 was the close. just dipped below that level as well and look at the third week in july, you can see that the market is urging here. it never got above those 2012/2016 yield lows we've talked about 1.36 to 1.39 and final and ly, baltic with a

year how >> wow rick, thank you very much. and speaking of which, supply change snarls seem to be affects industries across the board as the delta variant causes shutdowns and delays our next guest is in the heart of it all. joining us now is southeastern grocer anthony hucker. we thought this was a 2020 story and now all of a sudden it is in 2020 and what is happening >> nice to see you again, kelly, thanks for having me back. i think the first thing to say is thanks to our 40,000 associates that are on the front lines every single day dealing with pandemics and tropical storms and depressions we like to say that the supply chain is bending but not broken. but certainly there are certain issues in some categories such as fresh poultry, frozen foods and soft drinks.

>> so very talking about these issues because there are plant shutdowns again? i understand that there is kind of an obviously long going issue with transportation. is it about getting the product to where you are what is happening? >> yeah, exactly we're having manufacturer plant shutdowns for sure, that is number one number two, as the food away from home segment comes back, i mean, it is not completely back, the people are enjoying eating out, that means that there is actually a confluence of requirement from an employment perspective. so with driver shortages and dc outs actually getting the product to the store is what the headwind is right now. >> interesting so for people who go, well, you know what, last march i went and i raided my supermarket and i stocked up my freezer, is that the kind of environment that we're tin again because there has been anecdotal

maybe emptier shelves thank you might expect, but how severe is all of this and how ongoing do you expect to be >> we're better than we were at this point last year with the panic buying and the lockdown. of course we're in hurricane belt and we have tropical storm fred on its way to hit the florida keys here tomorrow morning. so there has been some panic buying with the usual suspects but what is putting more pressure on is the increased freight costs that you already mentioned. in some instances in produce for example the cost of the box and packaging and freight can be more than what is actually the fruit that is actually inside the box. >> what are you doing with respect to masking or vaccines or encouraging or requiring for your teammates and also for your customers? what are they being asked to do if anything?

>> tyler, we are requiring all of our associates to wear masks and for our customers, that is obviously a choice that they can make but we strongly encourage them do so. and as far as vaccinations are concerned, we have a full supply of vaccinations, we strongly encourage our associates to get vaccinated and for our customers, we actually offer them $15 of free on brand groceries if they come to one of our stores and get the vaccination. in florida, unfortunately, we have 20% of the new positive cases and florida is only 6.5% of the u.s. population but in the last week, we've had more cases, more positive cases, than 0 s30 states combined so it is a tough environment right now for our associates and couldn't be prouder of them serving on the front lines

>> that could lead to a whole separate conversation about why florida right now. but we'll let that one pass. what about labor, are you having a hard time filling open positions? >> yeah, there is definitely a pressure on labor. but we're in good shape. i think it is more prevalent in quick service restaurant verticals whereby qsr restaurants are actually having to close their hours or close the number of days but we're registered as a great place to work and so i think people actually enjoy working for southeastern drgrocers becas we've gone through a turnaround. and so we're in good shape, we're open full hours. but obviously with supply chain pressures, sometimes that can give rise to -- >> i love grocery stores because

i find the choreograph y of getting thing on the shelves an amazing triumph of thought how -- just quickly, how many skews or separate items do you have in a typical store? >> 30,000. >> 30,000 separate items >> 30,000 separate skews stock keeping units. >> skus, yes thank you, sir appreciate it. have a good weekend. >> thank you up next, a euro vision for investors, european stocks outperforming the u.s. this year for the first time since the financial crisis are there opportunities abroad our traders will discuss that next

welcome back the s&p 500 may be at records, but there is an even busier wiw bigger winner across the atlantic europe stoxx 600 outpacing wall street for the first time since 2015 also up for a tenth session in a

row. and we asked our trading nation team for their tomop picks. let's bring them in. craig, what are the charts telling you and what is your top pick in europe >> so the charts are telling us that europe is clearly starting to outperform the u.s. at this point in time. and if you look at the euro stoxx 50 index which is the larger cap names, you have all-time new highs and you can see that the cac 40 is breaking out, the dax is breaking out, italian exchange is breaking out, ftse close to new highs. so there is a positive trend here about and relative performance-wide, you are definitely seeing euro stoxx 50 outpatientsing the s&p 500 just in the early stages. one stock that stands out, adidas we're at the mid point of an upper trending price channel and above the 250 day moving

averages so it looks like there is still more room for adidas to run. >> and making room recently with unloading reebok craiging thank you quint, what do you like and are you also similarly positively inclined over there? >> yeah, for sure. i think one of the best ways investors can play is a just a broad index fund that is what we've done for a lot of our managed accounts. but if i have to drill down and you want me to pick one, i'll jump over to paris and go with santa fe aventis 3.7& dividend, nice balance sheet. they have a strong pipeline, currently 35 projects in phase three. they have another 48 behind it so i don't think that it will light the world on fire here, i don't think that it is a stock that will have a tremendous amount of beta, but i think that it will be a nice safe play that

marches higher over time >> and i think you and i should head to paris and do a little research on that one don't you? >> yeah. >> thanks, guys. for more trading nation, head to our website or follow us on twitter. and are inflation fears overinflated so far companies are managing higher costs by passing them long to consumers. profit margins haven't even collapsed yet but how long can the situation last we'll discuss that next.

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. the inflation debate is far from settled, but two key report this is week are helping investors understand its impact on the markets steve liesman is here to dig more into that story for us.

>> yeah, kelly, pressure could be building on company bottom lines here two big inflation reports this week showed consumer prices are moderating but wholesale prices continue to surge. if prices can't be passed along to those consumers, margins could suffer joel naroff writes that increasing producer costs are pressuring businesses in every nook and cranny of the economy up until now, companies have been mostly able to recoup higher costs by raising prices and then some. the question is, how long will it work. starbucks said in its earnings call last month while we're thrilled with our margin performance in q3, we expect to moderate slightly in q4 primarily due to the growing impact of inflation coupled with incremental investments critical to our continued growth. stock off about 7.5% since that call data this week shows the cpi rising faster than the ppi as companies boosted profits by

raising prices more than costs but we see the cpi moderated in july while the ppi continued to accelerate many companies in the call said hey, they are confident that they can pass on rising costs. yum brands for example said we are confident that our brands have strong pricing power. eventually something has to give either input costs start to fall or consumer prices continue to rise if not, as you know the math, profits will be hurt >> in a normal environment, steve, you'd think absolutely consumers can't just randomly take on all of these price hikes. but because of the stimulus checks and other programs, child tax credit and so forth, maybe they can and maybe that is why we haven't seen more pressure on profit margins >> i think that's right and i think you nailed it which is the high savings right that is out there, the amount of money that people have because of the stimulus has allowed them to pay for it but not really feel it. but when that hone runs out, people start to substitute for

goods they can't afford, they start to not buy things they can't afford for example, eating out prices are up and they may stay up. some cost of travel and people are really hungry for because of pent up demand those prices are higher. but if that savings run out, if wages do not keep pace with inflation, then you could see demand start to trail off. >> exactly steve, appreciate it, thank you. so is inflation actually good for stocks and at what point will that trend turn ron, good to see you i learned way back when a bit of inflation is usually a good thing for stocks right now stocks are performing very well, even as inflation worries burn a little hotter. >> yeah. we've seen that now for several months in a row, as you just pointed out. i think it depends ultimately, too, on whether or not this nothing of being transitory

proves to be true, but it moves through the economy like a big lump and starts to level out, and the rate of price increases slow and then start to normalize over the next year there's so many inconsistencies in the economy the third largest port in the world in vietnam has effectively been shuttered for a period of time so the economies of the world are not firing on all cylinders, and we're getting these different types of adverse effects. so i think it's hard to read inflation in a meaningful way, because nothing either domestically or globally, has really normalized yet. >> i guess what interests me, in part is things broadband very volatile take lumber, it was up so, so much earlier this years. it's basically crashed down,

whatever the unit of measure is. >> yeah, 1670 per thousand board feet to under 500. so we almost have a philosophical question if lumber falls in the futures market, does it make a sound so far it hasn't the increased boost of the price of a new home by $30,000 or more, once they work off the expensive inventory, then you'll have a sudden drop in a house, and that will in the cpi show the dramatically that's kind of the question i want to get to there are some things where the input costs can go up and down a great deal fuel, we know about that, and lumber, here's an example of that labor, when the price goes up, wages typically don't come back down you know, they usually are sticky so my question really is, even if the price of lumber comes down, and it added $30,000 to the price of a house, are sellers or builders of houses going to cut those prices back

to reflect today's lower price of, say, lumber. >> well, they may or may not we still have a huge imbalance between supply and demand in the housing market we're still somewhere in the neighborhood of 5 million homes short of demand. that demand pressure is pushing up prices as well as the input costs, but the input costs have come down. it's something we won't know for months you mentioned energy gasoline prices are going to come down. i mean, we'll see that, but again you work off the higher inventories, for a wide variety of reasons specifically only to that state, but gasoline prices will come down, eli toward the until of the summer driving season certainly the bond market might be telling us, given the consumers confidence date. data. >> ron, have a great weekend.

>> thank you. >> great to see you, my friend. >> you as well from robert to robinhood, by the hacker behind the $600 million theft is being praised by the company he stole from, we told you about the sryarerto eli this week. wait until you hear the latest ch chapter, right after this break. hey, son! no dad, it's a video call. you got to move the phone in front of you like..like it's a mirror, dad. you know? alright, okay. how's that? is that how you hold a mirror? [ding] power e*trade gives you an award-winning mobile app with powerful, easy-to-use tools and interactive charts to give you an edge, 24/7 support when you need it the most and $0 commissions for online u.s. listed stocks. don't get mad. get e*trade and start trading today.

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eamon javers is here with the latest in the cybercrime drama. >> it's an astonishing turn of events the hacker that stole from polynetwork has begun returning hundreds of millions, and may be allowed to keep about half a million worth of the loot. polynetwork is a dizzy centralize the financial network allowing different block chains to interargument the hacker found a vulnerability, stole the money, quote, for fun, unquote, but know.network is referring to the hacker as mr. white hat, implying he or she is a good guy, not a crook, and offering a deal in a state poly network said we have come to a more complete understanding how the situation unfolded, as

well as the mr. white hat's original intention we you shouldly offered a $500 bug bounty, and mr. white hat had responded to the offer they usually pay them to prevent money from being stolen, not after the money is gone. the hacker apparently as not yet accepted the deal, and due to the high-profile nature, law enforcement agencies may well be able track this person now for now, the mystery continues, but it may be by suggesting this person is a good guy, p poly network way get most of the money back >> now, show your vulnerable, and pay me to resolve it

do you think he'll get away with all of this? >> that's a really big question. this person may have left so many digital crumbs that law enforcement will be able to track them down. the question is will poly network want to charge him. bug bounties don't generally involved stealing the money and then giving it back, because maybe, as you say, is a new business model. >> it feels like a guy was playing around, found a vulnerability, siphoned off $600 million, and i was just playing around >> exactly it's not clear exactly where all some of the money is going on. some of it is stored in a wallet that both the hacker and the company have access to

both need to release it in order for it to move back to the company. so the hacker still has control over a lot of money here maybe they got in way over their head way too fast. >> this is such a brave news world of thievely and so mucher. you both have a good weekend "power lunch" is ending. "closing bell" starts now. welcome to "closing bell." i'm wilfred frost, happy friday. any close on the dow would be a record >> we're almost there. we'll see if we can do it. let's look at what's driving the action disney, after strong earnings yesterday, though that stock has lost some of its years oldier gains. consumer sentiment coming in at the lowest level in ten years. consumer staples are the