itself or microsoft, which with, in most cases were reiterated, as positive as they were in recent history so, those stocks holding up, which is helping the overall market as well your last. >> nguyen resorts. the big picture sold this down but when you lack at company results this stock should be going higher >> all right i'll see you in just a bit welcome ta"the exchange. everyone here is what's ahead walmart gets whacked off more than 10.5% so far, on pace for the worst day in 35 years. and the ceo making troubling comments about inflation is this a warning sign consumers are paying more for food, they won't have money for other stuff. plus, while you have inflation and a volatile stock market, perfect recipe for stock market,

right? wrong. amd getting an upgrade and leading the group higher we'll talk to the analyst who made that call and sos an upside, even from here and where else would we want to start? >> so, right now it's generally green and has been pretty much all session long and we're tilting towards the higher end of the range so far. with the s&p 500 specifically, i'll focus on that it's 4,00068 for the s&p we're up about 25 points at the lows of the day. and then up about 67 points at the high tilting towards that higher end of the interday trading day range so far nasdaq up nearly 2%. 11,882 and dow up about 1%. roughly 312 points one thing to keep a close eye on is travel and laegser overall,b

specifically because of united airlines they come out with results earlier this morning that are better than expected it also raised the current quarter revenue forecast and the ceo says he sees the busiest travel season since before the pandemic and it's help tag lift all the other airline stocks delta up 4.5% and carnival corporation and booking holdings up as well although getting some help from analysts at wolf research. one of the top picks for the second half of 2022. and from the stock side of things, two of the five best performing stocks have nothing to do with each other really it's citi group up 8% and paramount global up 14 yes, it is warren buffett. hath way saying they've now taken stakes in paramount global and citi that buffer the berkshire boost. two of the top fur formers on the s&p, not on anything really

but the berkshire investment >> thanks. well, it's also a tale of two retailers, as home depot holds slightly positive. as walmart sinks hard. both companies beat on the top lain walmart missed on earnings higher food and fuel cost weighed on margins on the call this morning doug mcmillen warned the inflation situation is, quote, unusual and later added we're seeing double digit food inflation and i'm concerned inflation may continue to increase if walmart, the largest retailer in the u.s., can't manage rising prices, who can? let's bring in the jbm retail analyst. there's a couple off things to look at here one, what walmart and home depot results tell us about the overall economy and the companies themselves let's start with the economy

working class consumers getting pinched but perhaps home owners less pinched because at home depot they're willing to spend more to get less stuff >> there's a lot of cross currents going on with the consumer first you see a bifurcation of the low end and energy costs are up 15% the two lower quin tiles of consumers spend about 40% of their monthly income on those two buckets of costs that low end is getting squeezed we're seeing more private label expansion, growing faster than brantded products. and driven down as it economizes on gas prices and the impact to their wallet and you're seeing some shifts in shares a lot of the categoriesthat were big covid winners, consumer electronics, apparel, those

things aresying weakness and the late spring exacerbated that impact on the other side, that home depot customer withb that home owner, they're doing much better >> my question is what do you expect to happen from here, even with the consumer holding up better perhaps that consumer less willing to borrow to get that extra appliance to do that renovation that's take so much longer and costing so much more anyway which way do things tilt does that better off consumer from home depot prop the economy up or does what the walmart food bier's experiencing ripple through the rest of the economy? >> our broad view is you're in an accelerating negative change across the conpsalmer. a lot of the prices are persistent the food manufacturers are raising prices more so today than they did two months ago we're going to see more price investment from walmart and more trade out of general merchandise.

as the united ceo have talked about, paeperal traveling this summer the focus is going to deteriorate. and lastly is for home depot and lowe's mortgage rates are back to 2009 levels home affordability's back to 2008 levels. those impact that pro remodel business and typically a one to two-quarter leg. what i would say is amd and home depot's business is driven off the price side we would pects that to deteriorate later in the year. it's no surprise that the pro customer is working on back logs people are try tag get kitchens and bathrooms done as the back log drains, you'll see the lag weakness show up more on the pro remodel business >> you got to wonder about the consumer, especially in places like sillicon valley woev seen that come down maybe they decide they don't

need that remodel afterall now, on the company's themselves we've talked a lot over the last coupleal years about how they built up digital capability and what that might dafor loyalty town the line. even as it takes a short-term hit, not passing all the prices through toconsumers, are they going to be able to benefit by having a larger share of wallet with that customer because of the investments they've made in the digital business >> it's funny traditional retail, presumed dead five or six years ago. and we've always argued that you can't count these businesses and companies out. our business has taken a lot more share in digital,b whether it's digital advertising the business is up 30% we expect target's advertising business to grow and the one i'm most bullish about, frankly, is target. they have the best traffic,

fewer competitors post covid they have a higher end customer relativeb to walmart and they've been taking share across the box. with digital, particularly their drive-up curb side business being a major enabler of that. >> if, therefore, some of the retailers are going to have an ugly look. walmart down 10.5% so far today. is the market, you think, price aring in the digital loyalty benefit that some of the retailers might show longer term is there opportunity baing a at these levels or do you need to stay away because you expect the upper leg down by the consumer effected by the interest rate hikes. >> it's not a late cycle sector. y with don't like interest rate increases because it discounts the stock, to a lower pras the second thing is what's unique about lake cycle is the top line slows and the cost structure inflation accelerates. and that's exactly what you're

seeing with walmart. so, earnings revisions, after two years where all these companies were covid winners, earnings revisions are now going from sharply up to flat and in this case, in walmart's case, down and that's not good for stock. >> finally, what did we learn about labor from the two reports, particularly walmart? walmart talked about people coming back from covid more quickly than expected andbying over staffed, which is not a word we're used to hearing in this economy >> it's interesting because you heard from amazon as well. you're hearing that change where we had a hard time filling positions. people were staying away because of covid popalal were staying away because of stimulus. as you entered into 2022 snap benefits receded, child benefit went away. we lacked all the stimulus dollars from the january checks, as well as march checks. that consumer is being forced to

start to go back to work and you're seeing that in walmart's numbers. you're still running very high single digit wage inflation in retail and more so, actually, for the overall consumer but we would expect that to cool down over the year and again, i think it's a bit early to really try to get more bullish on retailers, given all the dynamics let's see when the fed yields, so to speak and when we start to see revisions downward on 2023 b i thinky with need toget some of that in the stock before we go out to buy opportunistically. >> it's sobering but that makes sense. now, despite the elevated level of inflation and the fed tightening, our next guest doesn't see a recession ahead. says now is the perfect time be an active stock picker let's bridge in head of equities

with mariner wealth advisors i just heard a really rough story from chris suggesting that this could be a month's long issue. but you think that this is more of a correction than a slide into a recession why? >> well, going into the year, we really did try to -- we thought this would be a year we see perhaps sizeable correction. the offereder of 15 to 20% and there could be more down side. what we do think is the foundation or the fundamental story is still quite healthy we go through the employment low unemployment, low unemployment claims. earnings that are actually 80% came from feeding. 10% earnings growth. and certainly consumer spending pattern. peopleeral flying. people going out to restaurants. they're getting back out there and buying services.

it's not typical to see a recession and the three or four signs that we looked for quantitatively inverted yield curve, lei and you know, just activity reports from manufacturing and service, they're simply not there. >> so -- okay. go a-head. >> i was going to say we really did think we were likely for a full back. it's unlakely to have full consecutive years of returns when you coupled that with a robust return and all the transitions we have going on right now, we think the, mat will with and the policy makers will adequately deal with, but between inflation, better rate hikes, geopolitical, midterm election year, you expect a correction >> you expect to stumble but say the economy's not go tag fall down the steps hoerz my push back and question

about that a lot of skepticism about a a soft landing when i look at the walmart and home depot numbers, i see a consumer being effected on the food and gas side by inflation and then, even on a positive side at home depot, a consumer who's buying less and spending more but maybe we haven't seen the full impact of higher interest rates what are the bench marks, the sign posts you want over the next few months to increase your confidence that this is going to happen >> i think our number one fear is not recession but it's how high will rates go and i think that pe's have contracted this year because folks are baking in the fact that rates are probably going to over shoot the upside and be higher than originally thought so, pe's have come in. ib think if inflation calms and the economy slows, not to

recessionary levels but just to slow steady, back to the days of 2 to 3%-ish. that you already see, through mortgage rates going to five that the economy should do that. >> i want to get to your picks you like booking holdings, active even service now and adobe high flyers stlat taken a beating. what are some others and why >> i think you mentioned the three. sony stocks are down 40% it's market stock, not a stock market and when you -- take servicenow, you get 30% growth in a stock that's down more than 40% in peek with the business modelal that they have within workflow management and cloud, it's a great opportunity to own other names that you didn't mention on the list would be united rental.

and i would challenge anybody watching the telecast right now. take a look at the relative strength or price tend for united rentals over two, five, and ten years. it's an infrastructure play and they do a marvelous job. great earnings growth. trading at eight times i think you see both growth and value opportunities in here and you want to blend both of them >> well, maybe the sky isn't falling. and thank you. >> thank you appreciate it. now with,b coming up, buy good comp ans when they're down. putting amd in that category upgrading the stock and soing a more than 40% potential rally from here. the analyst behind that call joins us with one particular catalyst he points tanext month, one area hey says amd is way ahead of the competition but first, gold is supposed to

be an inflation hedge but tamuch inflation can prove problematic. particularly for the minors. we'll talk the ceo about the head winds he's seeing with the stock down 29% in the past month. let's get a quick check on the markets. the dow, s&p and nasdaq about near the highs of the session. dow up 1%. s&p nearly 2%. nasdaq more than two

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welcome back to "the exchange." it use tad be investored would flock to metalal, especially gold, often considered one of the best hedges against inflation. copper sliding about 5%. gold flat and silver off by more than seven investors are concerned about possible recessions and continued shutdowns in china joining me exclosive lee on "the exchange." is president and ceo of barrett gold, one of the biggest gold and copper producers i still don't get it inflation hedge? that's what we think about energy prices too.

it takes energy to mine gold >> you cover things very different. copper and the abnormal effect with china not really on the side with all the covid issues onch r on goldb, it's not only inflation. we're back to the 1980s,b where you've got deglobalization, rather than globalization. and this is part of your program where some people are saying it's going to go higher. the markets are going to be great and one thing i'm sure of is it takes time for gold to respond because of 2008.

so, it takes time. >> are you epected by crypto at all because some people think cryptos are the new inflation hedge. maybe there's some demand there for them >> everyone says that says that crypto's not a currency. >> copper has multiple uses, including a lot of practical ones, even where gold doesn't. why is silver behaving this way? >> sivrlt is a sort of gold follower and it's been performing really well recently. there's been a lot of speculation about the industrial uptake of silver it's a slightly different mark

toot gold. a lot of people refer to it as a poor man's gold. i think those three commodities are quite different. copper is definitely, in my mind with, the most strategic metal today. as far as metals go. gold is a precious metal different again. and again, they're if wing to behave differently but barrack mines gold and copper one's precious are one mfls very strategic. i think that's the right balance for a modern mining company today. >> so, how does mining operation look for you as we look through the rest of 2022 given all of the supply chain disruptions we've seen and even the shortages of certain materials that are used in refining, from what i hear are you supplies looking stable? are they healthy or are you going to end up, and

your competitors,b with shortages that are if wing to effect both the price of the product that you're putting out and perhaps the pras of the stocks >> i think that the differ engsiator of who's going to succeed and who's not in this year is going to lie in how you manage your supply chain procurement and logistics. you really put your finger on it and so i think this world is going to see stock ups and it's those people who can manage those companies, and boy the way, the same ges for retail that you've just been talking to it's how dawe manage in this very dynamic world that we face today. it's very different. it's something that we are not use tad. and it's those agile organizations, whether they're mining companies or others, that are going to win in this environment. >> not every day we ecan draw a

line between walmart and gold minors but we can dethat in this economy. thank you. coming up next, the dollar index on pace for the third straight daily loss but up nearly 8% so far this year we're going to look for the winners and losers with a stronger dollar. coming in at number 14 is a company shaking up the transportation industry. the ceo joins us live to make trucking more efficient. and lack at the dow heat map mc -- dold, mcna'san means new project managers. you need to hire. i need indeed. indeed you do. when you sponsor a job, you immediately get your shortlist of quality candidates, whose resumes on indeed match your job criteria. visit indeed.com/hire and get started today. ♪ ♪ wow, we're crunching tons of polygons here!

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welcome back to "the exchange." markets near session highs the dow's high was 350 the s&p and nasdaq doing quite well also. s&p up 1.5%. nasdaq up 2 and is a quarter russells at about 2.7. materials and financials your biggest gainers. consumer staples your only session in the red energy stocks moving higher with chevron, marathon, pioneer and conco phillips hitting record highs. chinese internet stocks having a good day kweb on pace for the fourth straight day of gains. and joining alibaba among the top performers and the avea group on pace for the best day to date

all up 5% or greater so far today. and now, to tyler matheson for a cnbc news updet. >> thank you very much and good afternoon, everybody after visiting a make-shift memorial to the victims of saturday's supermarket massacre, president biden strongly denounced the white supremacist ideology the shooter embraced, calling it poison. >> the hate that, through the madia and politics, the internet, has radicalized angry, alienated, and lost individuals into falsely believing that they will be replaced that's the word, replaced. bay the other. i call all americans to reject the lie. i condemn those who spread the lie for power, political gain, and for profit well, someone in the cockpit intentionally crashed a china

eastern jet earlier this year. killing all 132 people on board. the wall street journal reports that's the preliminary assessment of u.s. officials based on black box flight data and u.s. officials say chevron will be able to negotiate the future operations in venezuela they'll relax some sanctions on that country as talks resume with venezuela's government. how a california law is effecting out of state pig farmers. that's tonight on the news john, back to you. >> thanks. still ahead, amd town more than 30% this year. my next guest is upgrading the stocks more than 40% upside from here he join us to make a case ex and during may, we are celebrating asian american and pacific islander heritage. here's ed lou. >> a big part of being asian

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welcome back to "the exchange." now for the second day in a row, analysts making a bold call on a beaten down stock. saying pc froegt strength in gaming and attractive share price are all reasons to get back in the game amd is higher and down 30% this year supply chain head wind slammed the entire chip sector andinaryly 40% off the november high joining me is senior research analyst at piper sandler harsh, welcome now, the nba playoffs are going on and i appreciate a good cross

itover as much as the next guy but you had a neutral rating and reduced the price target from 130 to 98. now you're putting it back up at 140. what changed >> so, thank you, john, for having me on the show. the biggest thing that happened is the stocks come in a lot since i down grade aed we cut the stock in about 137/138 a few months ago and the pc sales were going to slow down. that would be a head wind for amd and the acusition. but as it turns out, amd is navigating the head winds extremely well and it's turned out to be a good one for these guys with the stock having come in dramatically lower since previously and trading at just 20 multiple in a forward basis, we thought it would be a good time for investors to look at amd. >> given what's happened in the

economy overall, eefen throughout the whole chip sector look at qualcomm and how it's behaved after strong earnings. in a way, you were right about amd but it's almost like you're making yourself wrong or you think things dramatically reverse from here in a way that the macro environment isn't shame. what else has to happen for the call to be corrected or do you think no matter what happens, amd is going higher >> i think the risks to the company is relatively little the biggest risk, of course, is that the fed is tightening y with know that and the fed is slowing down and that's directlyfecting two parts of the business. the first being the pc business. but fortunately, or strategically for amd, they made big pivot so, the kind of pcs we have at work, these are higher price pcs that are not so

susceptible at the lower end and they've been shipping chips to the computers for about three quarters now and it's become a meaningful percentage of the business and think it will help nav fwat the pc market headwind that someone lake an intel might see for example. the second business suspeptable to the consumer slowdown would bethe semiconductor business for the x box and ps 5 consoles. as you probably know, those consoles are extremely hard to find trading well above msrp. the chips are still in short suplay wethink this year the console business will be a good grower we have a situation where the pc business is mitigating the head winds to a pivot towards pcs 234rrs the server business has always been strong for the last three or four years for the company. and a nice cap on the stock.

>> give me your sense of what is happening in the semiconductor space overall. we have qualcomm trending in strong results in its quarter. a lot of that on industrial iot. i think their business was up something like 61% you have marvel also doing pretty well on hyperscalers and their cloud share. and nvidia's down 40%, i believe, year to date. do you have call on some of the generally well-performing companies overall on the stocks or is this just an amd thing >> we upgraded on the entire sector we were negativegen is ware 3rd and basically said stocks are coming up. what we've heard talking was the recession or slowdown, whatever you call it is coming. y with want to see is a 15 to 20% cut to the earnings number

because that's what would happen as it turns out, with the declines of the stocks, the stocks are pretty much trading at the 15% haircut it's an interesting analysis if you apply the average multiple for the last ten years, you have stock prices in the range that stocks are at today, including a 15% head cut for earnings we do not anticipate going to the lows of the 10iary they were typically set and the problem with thinking about the trade war is that there were about 30% of the revenues of the semicondunger industry and that are where we're potentially going to go. woe see a soft landing and maybe a midlanding but not a 30% reduction. >> sounds like not a recession normalliy with talk about ten years, we're talking about ups and downs. this market has been pretty much up for the whole ten years a recession would change your calculus >> a little bit but the point is

the stocks have already reflected that they all have big cash flowb, strong earnings power. we are in short supply on material and 15% calculus that i'm applying towards haircutting the earnings i think we're pretty much there. >> from walmart, pessimism to semiconducker optimism here. thank you. >> thank you >> still ahead, it is easing a bit today but the dollar climbing to levels not seen in 20 years with last week's market sell off. theect issers that could benefit and the ones that could take a hit are next "the exchange" is back in two. when traders tell us how to make thinkorswim® even better, we listen. like jack. he wanted a streamlined version he could access anywhere, no download necessary. and kim. she wanted to execute a pre-set trade strategy in seconds.

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welcome back to "the exchange." the dollar hitting a 20-year high as investors sought safety from volatility.

here with a look at the companies that stand to gain and lose in a strong dollar environment. >> good afternoon. if big tech did not have enough to worry about, the 7% rise in the dollar has created another head wind. especially for companies that rely on sales overseas apple made around 63% of its revenue outside the u.s. for microsoft, it's about 50%. beyond tech, industrials and materials remain vulnerable to the stronger dollar. they generate most or a significant amount of their sales outside the u.s. as our emerging markets did see out flows in the month of april. they've underperformed the s&p 500 in the last three months on the fliep side, the winners according to krest capitol, strong caps, which have more of a domestic tilt and travel companies. it's advantageous to those traveling to certain

destinations like europe where your money ecan go further if you convert $100 in may of 2021, you would have re7ed 82 euros. today it's around 94 euros that can have an effect on people planning booking travels. >> and it feels like you're paying more to actually get there in a plane but when you get there, maybe you can afford tabuy an expensive bag also. how is that reflected in the bookings and do you have insight on how luxury goods might be impacted as well? >> bockings to europe have been growing consistently this year they were 11% according to data from hopper. one of the questions is if you look at the travel landscape, which are the companies best positioned to win? it comes dune intercontinental, marriott, hilton these are the subset of companies that have grown their portfolio of properties across europe that's something to keep in mind the currency moves are pretty

significant. the dollar is now, ib think, with up around 12% against the youro, with round 7% and according to hsbc and goldman sachs. the effect it has on luxury goods, purchasing of goods overseas,b that certainly could be a bigger benefit over time too. >> we'll see the walmart customer getting pinched by the higher end customer is so often the case. same effect. up next, it is the 10th annual cnbc disrupter 50 list. for it's out today the list of the private companies poised to shake up their companies. and there was one big theme that emerged this year with, logistics. we're going to look at flock freight and hothw ey're going to mitigate the trucking shortage

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welcome back cnbc revealing its 10th annual disrupter 50 list and freight companies dominated. as supply chain disruptions continue to impact the global economy.

joining me, she created the disrupter 50 and joins us with who made the cut and what sets them apart julia, i guess we knew for a while that supply chain was a big deal but what in particular is important about these companies on the list? >> these companies on the list are growing fast and they are addressing a massive addressable market there are more logistics with, related companies, ten in total withb,b including the top comp an at the list a logistics company is transforming a trillion there industry, doing that by tracking and streamlining the movement of cargo across ships, planes, trucks and rails for more than 10,000 clients and suppliers next is company that uses a freezing process to prevent waste in the supply chainand others on the list include convoy and flock freight which help to minimize empty

space in trucks. and airspace and the lakes of medicine and transporting organs and there are companies using data to speed up delivery. mexican-base josto uses ai in the micro fulfillment centers and gopuff, which just announced its own products they've been growing to over 11 billion there last year, and 9 billion the year before, according to crunch base you can find more on the fast-growing logistics sector and all these businesses on cnbc.com at the end of the day, there's lots of demand for the companies and they're growing quickly. >> i'm going to try out a stretch on you because i see a parallel between some of the logistics companies and uber, lyft, doordash, airbnb, which are trying to

utal utilize. >> they're focussed on making sure things move quickly and efficiently through a system so you don't have things stuck on a port or a back o spoiling because they weren't kept at the proper temperature it's all about maximizing efficiency and a lot of these companies have an environmental bend as well with the idea that the more efficient you are the less your carbon offsets are or your need for carbon offsets are and sometimes even enable their customers to buy carbon offsets. >> makes a lot of sense. thanks. now let's dig a little deeper with one of these names, flock freight, shipping and logistics company aims to solve the supply chain crisis and reduce waste by pooling multiple shipper's freight into a single multistop truckload. joining me now flock freight's ceo and founder oren zezlensky

what is the key differentiate ter that's going to allow you to succeed where some others might not? is it quality of data? is it access to data is it a particular technology? >> hey, jon, thanks for having me today love that question i would argue it's sort of all of the above we believe at flock freight that we've truly created a win-win-win environment whereby creating these proprietary car pools of less than a truckload of freight, allowing freight to ride share, we think of the shipper, manufacturer, the demand side customer them for the first time ever having access to buying just the amount of truck that they need a bit of a dirty secret for those of us who have been in the freight industry like myself for

over a couple decades, half of the trucks on the highway are half full. are from a sustainability standpoint, we're creating the same amount of greenhouse gas emissions. flock is allowing those manufacturers and shippers to only have to pay for as much truck as they need, by combining their shipments with our other customers' shipments additionally, on the supply side of the marketplace, what we call the carriers, the truckers that are out there, which i would argue is the hardest working persona in this country. those men and women are making sure all of us get to eat and provide for our families the other side of that coin, their trucks are only half full. they can come to flock and they are, and they are flocking to us, you know, pun intended in order for us to make sure that those trucks get even fuller, if not completely full, very close t to it which allows them to make more money it's the first time ever in the united states and the world the supply chain where customers are able to save money, gain access to the highest possible quality and the truckers are able to make more money than they've

ever made before. >> i wonder, though, about the consistency of the technology and thus the consistency of the data across trucking fleets. it seems like it sure would be nice -- i know a newly public company that has some work in this area, but it would be nice if every truck had a simple baseline of i know where it is i know, you know, how fast it's moving i know how full it is. you know, et cetera, so that you could, you know, run algorithms on this stuff and get better and smarter over time. what percentage of the fleet that's out there has that basic technology that you would need to advance this business and this technology at the rate that you'd like >> yeah, it's a tricky question. on the one hand, i could answer it and say probably over 90% of the trucks out on the road have something called an elb, an electronic log device. a bit of hardware in the truck that floats that data up and provides telemetry that is the truth, the unfortunate -- or the frustrating part for those of us

working within the supply chain is that that data is only always opted in for the department of transportation that technology exists to make sure that the u.s. fleet is only operating so many hours per day. there are many individuals and firms out there working on creating accessibility to that data in order for us to be able to help drive more efficiency and greater earnings for us at flock, what we found is because we have such a differentiated offering, an offering whereby carriers can make more money, instead of the standard arguing over one slice of pizza and who's going to get what, we're making the pie bigger we're making the pizza bigger. therefore there's more slices. those carriers and drivers are coming inbound to flock and giving us that data. they're opting in at industry leading rates because we have the ability to help them make more money it's a pretty simple equation. if you can, help them make more, reduce friction, improve their quality of life, they're going to hand that data over, and we're experiencing that every day. >> sounds like that could be

deflationary, and that would help these days. thanks from flock freight. coming up, with oil prices surging, the companies are bringing in big bucks, but instead of using that money to drill, some are returning cash to shareholders instead. the names paying out the most next on the exchange ♪ ♪ connecting to opportunity is just part of the hustle. ♪ ♪ opportunity is using data to create a competitive advantage. ♪ ♪ it's raising capital that helps companies change the world. it's making complicated financial concepts seem simple. opportunity is making the dream of home ownership a reality... ♪ ♪ ...writing new rules and redefining the game...

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♪ ringcentral ♪ welcome back to the exchange crude is taking a slight breather today after climbing more than 53% this year, and companies are handling this price surge differently than they have in the past. pippa stevens joins me now with why it might be a new age for big oil. pippa. >> hey, jon, this could be the start of a new era for energy companies. oil and gas prices are surging, which would usually lead to increased drilling activity. but this time around, executives are pledging to keep spending down, and this is having an immediate impact on balance sheets free cash flow across u.s. shell

companies is forecast to hit a record $172 billion this year according to deloitte. now, capital spending is up from the last two years, but it's still far below pre-pandemic levels levels, and part of this increase is thanks to inflation rather than new production so with all of this cash on hand, companies are rewarding shareholders through buybacks and dividends. when combined, coe tara and apa are among the top returners with 2022's total annual yield forecast around 15% according to raymond james. devon energy, diamondback and eog at more than 8%. raymond james said they've reinvented their business models from growth focus to return oriented and a number of energy stocks are hitting multiyear highs indicating devon, occi and pioneer, as well as giants exxon and chevron, jon. >> yeah, i'm sure drivers would

like to control their spending as well at the pump, but don't exactly have that choice i'd love to hear at some point what the company's excuses are for not drilling more. well, pippa, thank you, and that will do it for "the exchange." "power lunch" starts right now ♪ yes, it does, jon. thank you very much, and welcome, everybody, to "power lunch" for tuesday i'm tyler mathisen, and here's what's ahead we've got the ceo of robinhood of, that stock of course cratering, users trading less. the company laying off workers, so oare new products enough to kick start growth? we'll ask the ceo about his plan to shore up investor confidence. how about buffett, warren buffett's big bets from citi, to paramounts to chevron, if the world's most respected investor is buying into these stocks or into stocks, should you? but first, welcome to julia boorstin who's in for kelly evans. >> hi, tyler