high it's interesting it does seem to suggest that traders are looking for either protection or looking to bet on the direction of bitcoin versus holding it as a bet itself, but it's back. we'll see what happens monday. >> buckle up, everybody. while that volatility may not be a good thing for bitcoin and the recent sell-off has presented some strong opportunities and the names she's snapping up in "power lunch tyler? ♪ ♪ thank you, kelly welcome, everybody, to "power lunch. i'm tyler matheson here's what's ahead this hour as we wrap up this week stocks powering higher, showing inflation has risen just a bit helping to boost sentiment has the fed done enough to cool the economy? that's the debate and we'll discuss this hour. plus, it's not too late to invest in the hottest sector of

the year so says one of our guests later this hour the energy index up almost 60% in 2022, but there's one thing investors need to pay attention to when buying into this rally, and kelly, we'll tell you what it is. >> i am looking forward to that because it's been a sure thing lately the dow on track to snap an eight-week losing streak and the dow and s&p also going positive for the month of may all of the major indexes are up more than 5% for the week and almost 6% for the nasdaq which is back over 12,000 and the 6% weekly gain driven by a 7% increase in apple and microsoft this week and an 11% jump in nvidia and applied materials with j.p. morgan up 11% and it set the tone this week with jamie dimon's comments and bank of america and the financial spdr with broad increases. >> thank you very much as the dow rises as the fed's

favored inflation measure so-called core pce may suggest that inflation is slowing down at least a bit in an op-ed written by our next guest he points out to yet fed may be, yes, finished with its tightening and if it is, says we could see the market launch a leg up let's bring in ron insana, cnbc senior commentator and ron, you are always going against the grain, but this one really does because not many people think the fed is done. when you say done, does that mean you think they are likely to skip the next two that they're hinting at at the next meeting? >> no. i think they'll be the last two and get the fed funds rate to 2% and not just the moderation and the personal expansion deflator which is one of the preferred

and it's fall rather precipitously and the five-year falling the most over a half a percentage point and like housing, we've seen credit spreads have widened and the speculative assets is where it's been wrung out and you have the backdrop as they suggested earlier this week to at least take a pause in september and maybe not need to do too much more you saw the consumer confidence number, too, which suggested that that's a leading indicator of future slowing in economic activity what about the runoff of the balance sheet which has barely started? do you see them continuing t drain -- to drain their balance sheet away >> i think there is a bit of a conundrum there. since housing is rolling over and we're starting to see an increase in sellers versus

buyers and we're starting to see prices out of reach, although as you say, the fed is starting quantitative tightening and for them to have borgage-backed facility where it's govern to 5ing is 4, it would complicate it it doesn't matter when they started and how much they've engaged. at least in my mind. it's not coming from anywhere else and i haven't spoken to anyone about this and no particular information that would suggest this is official policy, but by the same token, does it really matter if the fed launches quantitative tightening or leaves the balance sheet alone which as effectively as i said earlier they've had a fairly pronounced impact on the economy in real time >> all right so let's talk about two things one would be the economy here. if inflation is slowing which the pce measure suggests it is

by 09.3% from march to april and that's a good trend, what are the odds that the fed is able to pull off this balancing act without stalling the economy do you see that happening or not? >> as we've seen from the retail reports, it is very much a mixed bag. there are certain areas where the consumer is retention and obviously travel looks great and consumers are shifting their buying habits and it's too early to say whether or not we get the soft touchdown if the fed were continue to raise rates through the understand of the year and my bet is that would raise the possibility and the probability of a recession to 50%, but if they would curtail their efforts around september, they just might do what they did in '94 and '95. we are here and we have to fill 14 hours of the day --

>> oh -- >> you know what it's all about. for most of the month of may, we have been looking at a, a more volatile market and one that was more down than up and here we are on the next to last trading day of the month and the dow and the s&p are basically at break even for the month what are the odds that we have passed the worst in the market decline? >> well, in my mind this is still a bear market rally until proven otherwise i tweeted out sunday night that we should be looking for some sort of meaningful trading bounce here that would be able to leg into it and make some money, but we need further confirmation and we need a break on china and the break in ukraine and we need the flow of energy to start to pick up to extend the life time of this r58y and you need someone at the fed to say you're closer to getting it done. >> short of that, for now you

have to say it's a for positive sign where a soft landing is possible >> ron, thanks for your insight and have a good weekend. ron insana. >> our next guest is taking a valuation of the reset the s&p is down to 17 times forward earnings today she's finding opportunity in companies with strong balance sheets, good dividends and pricing power. let's welcome courtney garcia senior adviser at payne capital management good to have you. >> thanks for having me. >> to the macro, some say the s&p needs to go down 15 or 16 times, either way you look at it much of the reset has already taken place. >> yeah. that's the question, right price to earnings is 17 and it's still below the five-year average and some people want to see it more like 15 or 16, but either way, it's so much more

reasonable right now and ultimately what will drive the markets is earnings and profits which are still relatively strong and that's what you're seeing here is when valuations are coming down this low you're seeing people coming to bayuy bc in and taking advantage of the valuations and keeping some of the downturn at a minimum. >> so while some are looking at the market and saying i want to stick with energy because of the tightness of the market you are looking at style, almost we can call it balance sheet. what are the names that jump out to you here as good investments for right now and why? >> i just like energy. i want to throw that out because i do think what's happening right now is we're seeing maybe inflation has peaked and that's one of the reasons yet markets are having a positive week this week which is great and inflation peaking is not the same as there being no inflation and energy being one of those and things like materials could be a good opportunity. bhp group is a good example

where it's a well-diversified company with iron, copper et cetera and that will be your hedge against st that. the economy is not even open yet and that can lead to more demand and this can start to improve here and kind of regardless of where the economy is going i want to make sure you will have the positions that will do well either way >> you like deere and you like merck. one of the other things about this week is wondering whether if we get into the situation where re-opening names, travel names get back to the leadership and something like health care goes back to its traditional backseat >> yeah. i mean, you need to make sure you have a well-diversified portfolio here and i do know seeing the consumer discretionary and if the consumer is in a good place, and i think they are, you do want to have the positions in there and something like health care will continue to perform. i like that merck, for example,

they have solid revenue drivers like etruda and they're getting into the animal health industry and that's something people will spend their money on regardless of what's happening in the economy and that's promising, as well and i guess some of the companies regardless of where they're going, it's a good place for you to put some of your money right now. >> what about homebuilders i'm throwing that curveball to you because they're trading at incredibly low valuations and stephen made his case for why he thinks these stocks will perform much better than the market's currently expecting. >> i'm going to go out on a limb, but i do like the homebuilders here and they're getting more negative sentiment than they're justified for there's still an entire generation that wants to get out and buy their first homes and get into the home market, but there's still so much more demand that there is supply that demand is not coming down. i do hope your homebuilders, and

it's a longer term play, but i'm interested in that, as well. >> courtney garcia, a vote of confidence for you and other things >> thanks for having me. >> alibaba all down 20% year to date it's been slow for chinese tech companies. oversold stocks are getting ready to bounce. they are risky, but if you've got the guts they could offer a reward and which ones are worth und tay sulbechhod shneinod's three-stock lunch.

time now for a weekly look at etfs making big moves this week we look at chinese internet etfs, $205 million of outflows in the latest week. the continued lockdowns to fight the spread of covid-19 that is hurting factory output that, in turn, is likely to slow economic growth and that is what's driving the action there and you have slowing output and a lower gdp outlook, as well despite those concerns, crane shares crane web etf and the largest track in this group is up 3% this week and let's come over here and we'll look at it year to date down 24% and this week a good one. the data come from our partners at track insight and more information available on the ft

wilshire etf hub so what is next for these chinese stocks especially for the large internet names like alibaba, tencent and jd, all posted their slowest revenue growth on record and let's bring in the man who runs the etf in focus this week. brendan ahern. so, brendan, do you make the case that now is the good time to buy into these etf that you represent or into the shares and how do you overcome the argument that fundamentally china right now is uninvestable? >> yeah. it's a great point, tyler with the outperformance of kweb it's not just this week, but over the last month kweb is up not quite 2% whereas broad emerging markets is down slightly the qs and the nasdaq 100 is down 5.5% and the s&p 500 is down almost 3% a lot of the risks and the

negatives are very much baked into these companies and we've had some really strong earnings this week and i know the year over year quarter comparisons don't look great, but i think it's important investors recognize that alibaba, baidu beat nettes, we've had a lot of big players in the space beat expectation despite a challenging macro environment. >> what has to happen, as you look backward at the last quarter, the second quarter may be a different story or do you see it that way? do you think you can continue to do well in light of what is in china a relatively complete shutdown of big parts of the economy. >> shanghai is a very important city not just from a population perspective and you call it a city of 30 million out of a population of 1.4 million.

china has a hundred cities of more than a million people and i'm not diminishing the importance of shanghai and not only its financial analysis and it's a big country and a lot of the vast majority of china is at work and able to travel and yes, we're going to see some households have been quite conservative advertisers have been a little bit conservative and hopefully, you'll receive marked com bonence and we think that's why we're seeing the recent outperformance over the last month. >> how do you decide which companies are in your etf and -- and when new ones get admitted and when existing ones get put out? how often do you rebalance or re-shape the portfolio i'm curious. >> tyler, we do a semi-annual index rebalance that where we go in and trade kweb on behalf of

our shareholders in june and december so we're getting close it a new refreshment of kweb. the one thing that's been a little bit different is due to the risks associated with the holding foreign companies accountable act, we've migrated the majority of kweb's exposure out of the u.s. adrs into the hong kong share class and we'll continue that trajectory due to the risks associated to de-listing which is one of the really important non-fundamental factors that have weighed on the securities. >> all right very interesting brendan ahearn, thank you very much brendan is with krane shares we appreciate it. a vacation may be all you ever wanted, but inflation is not. gas is at a record and airfare is climbing to pre-pandemic levels will consumers hit a breaking point? i don't know airline stocks are up today. we'll find out after this. (all): all hail, caesar!

pssst julius! you should really check in with your team on ringcentral. oh hi caesar. we were just talking about you. yeah, you should probably get out of here. ♪ ringcentral ♪

>> welcome back to "power lunch. it's one of the biggest travel weekends of the year it doesn't seem to be keeping people stuck at home, but will

the sticker shock eventually set in and slow things down. let's bring in phil lebeau he's got the very latest for us. phil >> kelly, that sticker shock might not stop people from traveling and that's when we see leisure travel pull back take a look at what we're seeing with airfares right now. when you look at this you might say, wow we're higher than last year? yeah we're way higher than last year and it will continue rising. by the way, domestic airfares up 72% since january and up 34% compared to the spring of 2019 so it's up compared to pre-pandemic gulf coast jet fuel is the wild card for the airlines because they're looking at these record number of people who want to fly who are paying these prices, but they've got higher costs than ever before. again, this is close to a record high nonetheless, the airline stocks, you mentioned this earlier,

kelly, they're having a great day today. when we're seeing in the airline stocks over the last month, month and a half will have days like this and then they will sell off they generally speaking are trading in this mid-range here and they're not close to the 52-week lows and they're nowhere close to the 52-week highs and that's the story of the airlines in terms of memorial day week traffic and travel 35 million people will be taking a trip somewhere and they are looking at record high prices at the pump r right now the average. the national average is $4.56 a gallon, that's up $1.56. we do not see people slowing down their habits in terms of driving. also, we always get this question and i get it a lot from doesn't this drive more people

to get more evs and they'll getmore hybrids because they're much more affordable and toyota, honda and ford and they lead in the gas electric hybrid arena and it's a tight market in terms of supply. they have them, and not a lot of them and which ones they do have they're selling and selling at a nice profit right now. >> guys, back to you >> we went so many years where the prius was so popular and it was high prices and it then sort of plateaued and now it is very popular as are other hybrids the stocks are up today and we keep hearing about really blockbuster demand for travel and the stocks of airlines based on the stocks we've just shown, phil, are all down -- there you see it one year. >> you bet >> delta, down, american down 25 in the face of that demand, why

are the stocks year after year >> two things. almost all of them lost money in the first quarter and they're swinging to a profit in the second quarter and are expected to be profitable to the remainder of the year, tyler, and to what degree are they profitable the wild card is jet fuel prices so far they've offset the increasing costs when it comes to jet fuel, but they're not racking up monster profits given the surge in airfares and the demand that's out there. >> also, remember, they have less capacity than 2019, why so many pilots took early retirement and they took buyouts and that's why they do not have capacity today and the international flietds are nowhere close to where they were back then. >> you hear people suddenly, anonymously having their flights canceled i guess because there's a

shortage of capacity phil lebeau, thank you >> it's a tight schedule >> thank you, sir. >> frank holland as a cnbc news update >> here is your update at this hour the jury in the johnny depp-amber heard trial is expected to get to that case later today. after testimony that's attracted interest and sparked debate on social media platforms, both sides are finishing closing arguments. if heard defamed depp by writing in "the washington post" that she was a domestic abuse survivor freight cars derailed when a train carrying petroleum distillates derailed they expect disruption for travellers and boaters over the memorial day weekend. a wheel that was freed from an illegal net was found stranded on a beach 190 miles away specialists who examined the animal said it would not survive a return to the sea and it died

shortly later. >> ahead on "power lunch," the rising playbook, and the rising stocks may not lift all stocks >> we have three stocks under water and we'll have three oversold names and our trader will tell us whether or not to at wn ow lchco th'she"perun" mes right back

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welcome back, everybody. just 90 minutes left in the trading week before the long weekend and what a nice market we have going into the week. let's get caught up across bonds, stocks and commodities and the names that will prove resilient if the oil price surge slows. we'll start with bob pisani and the latest on these markets, bob? >> steady as she goes, kelly since about 11:00 we've held up right near the highs of the day, up about 6% for the week very big moves, particularly in retail and energy stocks and the four biggest movers this week, all retail stocks have had a rough time of it recently and dollar tree was up almost 28% and ulta 20, there are general, ross stores above 20% as well

and the stock of the day i'd have to pick costco. what an amazing company, 10% to 15% earnings grower and they basically affirmed that today. yes, they have lower margins and they're having to increase prices and overall this is just an amazing company 10% to 15% earnings growth every year for many, many years and that's why many people love the company here as for what's down, nobody wants defensive names. nobody wants pharma or food stocks when you have growth stocks rallying and tech, and nvidia is up 20 pierce% and bristol-myers, not by much, 1, 2, 3%. hard to believe we were lower and look at that that's a 300-point move so far this week. we'll see what's going on next week, guys the jobs report on friday will help to affirm or not affirm that the economy is still strong or not

we'll see. guys, back to you. >> bob pisani, thank you we turn to the bond market where it's been a quieter week for bond yields and rick santelli has more >> as we learned with the pce core deflator and pce year over year, they've moderated, but they're still at very lofty levels and what isn't at lofty levels was the university of michigan sentiment kelly's right. it's an inside session today remember, there is one trading day left and that will be tuesday and let's look at a month today of tens and as a matter of fact, the high-cycle yield close was the first friday, the 6th and that was a yield of 313 the next friday down 292 and every weekly close has had a lower yield and if you look at a month to date of boons and it is a different-looking chart.

it's been more firm and that may account for some of the strength in the euro currency and if you look at the difference between tens and boons and it's gone from 200 basis points to around 176 basis points over. the closest in two months and finally, here's a month to date of the dollar index. wow. it's given up some ground and things like emerging markets are doing better and consider this, mid month we're at the 20-year high in the dollar index and right now we're closing in at a one-month low. kelly, back to you thank you very much, rick santelli oil is closing at the day with the sector at the best performer of the market this week and this month. pippa stephens with all of the latest pippa? >> u.s. oil is on track for a fourth straight week of gains. during the session crude did spend much of the day in negative territory before jumping this afternoon on reports that iran has seized two

greek tankers in the persian gufrl. t this matters because any supply disruptions will rattle an already tight market ministers are calling on oil and gas producers to, quote, act in a responsible manner and respond to international markets the group prepares to meet next week here in the u.s. the recount fell for the first time 31 weeks and let's check on prices and wti is at 114, and for a gain of half of 1% and brent crude up 1.2% and natural gas pulling back currently down 2% and the energy sector keeps climbing since september 2014 and valero, diamondback and marathon petroleum hitting record highs pippa, thank you when it comes to energy, rising prices may not always lift all boats. our next guest says you have to

know leverage for each company and that's the key to investing in the sector and scott nations is the founder of nation's chairs, scott. welcome. don't scare us too much. >> no. where do you think investors should and shoudn't be placing their money? >> there's nothing scary about energy lately. the xle today at a new 52-week high and it is up 60% year to date and it's not too late to invest in energy if you pay attention to -- one key leverage it's not a surprise that some of these energy names, because they're all capital intensive and it's wnot a surprise that some are more levered than others and the ones that are levered are doing the best year to date. ox dental is an equity ratio and the anadarko acquisition and they're also the best performer in the space and they're up more

than 140% year to date let's listen to someone who is less leveraged and exxon, mobile and chevron and they're both up, but they're about on extro the key is balance sheet leverage if things are going great it helps and when things are not going so well it will really hurt >> it's like they're playing a levered bet. would you recommend that people stick with the more conservative names and the exxons of the world, eog, for instance at the risk of capturing upside >> i think that right now we've had such a wonderful run and you don't want to be a pig we know what happens if you're hoggish in the market. i think that the less levered names will do well macro issues will do all of it in energy. so names like chevron,

exxonmobil and eog which are -- are probably the best risk/reward plays in energy through the rest of the year >> what do the dividends tell you on a company like an occi? do the high dividends signal anything they have to work to keep all that capital and it is a special thing and so much money to acquire anadarko and they had to acquire a lot of money at 8% annual interest from warren buffett and berkshire hathaway and it pays off in spades and what the dividend-year-old is telling me they have to pay a high dividend in order to pay that equity on the balance sheet. >> scott, thank you very much. great to be with you today

>> one more, our working lunch with john fort he's working on a friday, a holiday weekend friday looking to help small business plus as we head to a break, during may we celebrate asian-american and pacific islander heritage and feature some of our cnbc teammates and members and here is kavita patel, former obama white house policy adviser >> growing up i often tried to fit in and that meant often times not acknowledging and it was incredible one day she brought in a self-portrait and she filled in all of the skin with a dark-brown color. even my own portrait as lighter skin or yellow hair trying to match the children around me and she was incredibly proud and all

of her drawings include little brown girls.

welcome back to "power

lunch. let's take a look at u.s. markets right now. on this day where we look like we're going to break a multi-week streak of negative numbers. eight weeks in a row >> for the dow it's eight and for the s&p and nasdaq it's seven and the nasdaq is leading the way this week just more than 7% >> what's amazing and we'll talk more about it later is the round-trip that stocks have made from the first of the month back now to being basically flat. there you see west texas crude you wonder why people are paying more for gasoline at the pump. there it is week to date up 1.5%, almost $115 a barrel there it is, the dow industrials up 1%. this choppy market is affecting more than just public companies in the u.s it's having ripple effects on start-ups and small businesses globally today john fort brings us up close to help small businesses grow >> hernika is based in bangalore

andshe grew up in india and launched a successful career in management consults and she's offering collateral-free loans, disrupting the traditional banking model. as a girl, her father, a political science professor is also blind >> what i also spent a lot of my childhood doing is actually helping my father, so i would record all of his books so that he could take notes and then form his question papers, and during vacations i would read all of the answers that would come from the colleges or from the students and assign marks that he would tell me to do. my dad had access to the american library as he was doing work on the u.s. politics and the u.n. and i would go along with him, and that's where i

discovered the barron's guide to american colleges and that's, frankly, where i learned about this whole system of education called liberal arts and it blew my mind. i was absolutely clear and certain at that point in time that this is what i wanted to do >> and her parents sold their house to send her to college hardika says ken ar has been taking a cautious approach to lending. the company has done more than 75,000 loans across nine cities. india's got about 60 million small and medium-sized businesses and i asked her about risk she said the company's experience surviving covid helped her ensure that ken ara doesn't take on too much of it >> i think that when you talk about thin tech, the investor expectation for fin techs and many stek start-ups is to prioritize growth over profitability and we have

carried this mantel of sustainable growth rather than grabbing market share. so from the covid experience, that very thing that we stuck to actually separated us from others having built a profitable enterprise ensured that we can find our way through and get back on the growth band when the time is right. >> she was saying that last march before it became popular last year there was a their 50 million led by the global impact fund and it's a different bet on the efficiency and growth, fin tech can drive when it's applied to a big market. >> let me understand, these are non-collateralized loans, in other words, you don't have to pledge anything. your building, your business, your house against it, but that does not mean these are not interest-bearing loans. >> that's right. >> so the premium here has to be back on credit quality and also on cash flow

india if you want to get a business loan you have to pay these pay day loan-type rates and her insight is if we go in and we digitize the bookkeeping of these businesses and many of them which are doing quite well and can document the cash flows then we can run models on them and determine they are good investments and that's what we've been doing with the system that hasn't had the digitized bookkeeping and then they can be more efficient. >> by the way, it's been used by u.s. companies, as well. whether it's square or others trying to get the foothold this is a sizeable company now >> yeah. growing pretty quickly she says growing carefully and it's hard for us to know that here, but look, when you talk about the potential in people and their ideas when the system hasn't allowed it and that's what she grew up with and her mother's family actually

disowned her father when she married, and she was able to move them to the u.s don't underestimate people's potential. >> where does she go to school >> she went to knox college. >> i shouldn't misspeak. she was turned on to the whole liberal arts idea. >> she wasn't playing video games. >> not in the '80s >> down, but not out we'll take a look next at three oversold stocks including one wndo 32% from the highs and that's when "power lunch" comes right back

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welcome back to "power lunch. it's time for today's three-stock lunch. we're looking at stocks that could be a percent below their 200-day moving averages. let's bring in craig johnson he's got you are trades today. craig, welcome let's start with take-two which is at its lowest level since march of 2020. >> absolutely. we look at take-two and the percent of short interest in

here there's still about five and a half days we're going to see a short interest coverage in terms of that. when i look at the chart here, we've corrected right back to those prior lows and it looks like we're making a bottoming pattern in the charts and reversing some downtrends. it looks to us if we trade back toward the 50-day moving average and 200-day moving average, we've got 5% upside in the stock and it's discounted a lot of the bad news. >> what about carmax, craig? >> it looks like we've got a nice downtrend reversal and we think this is a stock we should be buying. we had a nice 20% upside and so this is again another constructive looking stock that we think should be bought that fits into the down and out category, tyler. >> so that's two that you're interested in. take-two and carmax. what about under armour. that got crushed on the back of

its earnings and is down 51% this year. is it a buy for you? >> not a buy yet, kelly. when i look at this particular chart, while it is off a lot from the prior highs, we're not even back to a big support level technically quite yet. we need to get back to the 2020 lows we still have about 24% to go to get back to the lows so again, more downside to go. i don't see this story totally derisked as of yet like i do some of these other names. that's why i think i'd be waiting until we get confirmation that we founding the lows. >> as you look for oversold stocks that might be timely, what are the key things you look for? >> well, a lot of the characteristics we have mentioned here i'd like to look for stocks that have pulled back to big, huge support levels i'd like to look at what the short interest is. i'd like to look at the short interest say 30 days ahead of an earnings i'd also like to look at the

long term value argument are we trading one, two standard deviations below the five-year average for the valuation argument those are some of the things that i'd be looking for. >> craig, thank you very much. craig johnson, we appreciate it. have a great weekend for more stock screeners and other market insights, head to cnbc.com/pro. let's take a look at bitcoin which has been swept up in the market volatility this year, down 38% but jpmorgan says to hold tight. the firm saying it expects at least 30% upside to bitcoin from where it is right now. and that is 26% lower in one month than it was at the start bitcoin's fair value is about 38,000, currently trading about 28,394 jpmorgan says there's little evidence that vc funding is drying up for the industry and that the bitcoin to gold vol

ratio has declined modestly and that makes it attractive digital assets have replaced ra real estate as the firm's preferred asset class ahead of hedge funds. so will there be a crypto comeback oranother bitcoin winner tune in tonight at 6:00 p.m. eastern for "crypto night in america. ahead, a look at the week where the bulls took over. we'll be right back.

all right. to say it has beenan eventful week in the market is one of the great understatements. here's one week of the s&p it is up 5% overall or actually 6% when you figure it up, up to the minute but look back here on tuesday where we were flirting with that 3850 level which a lot of people thought was a technically important area that looks a little bit like a saucer and a cup, doesn't it but that is a saucer and we've been off to the races since then, moving on. so this would break a seven-week losing streak. did it clear let's go one week consumer discretionary, it's basically a basket. well, there's the nasdaq and look at those gains there, up nearly 3% again, tuesday was the low. consumer discretionary, up 8%, kelly. >> and the fun one about this,

every component higher for the week except pool and what did we see the huge increase and demand the last couple of years of doing putting that pool in your backyard. >> and consumer discretionary is a huge -- i mean it's a real -- every vegetable in the garden goes in thereone way or another. it's retailers, it's thing makers, it's service providers, so on and so forth perhaps more tellingly, though, let's take a one-month look at the dow. it sure doesn't feel this way to me there are the industrials up 391 points today, and there we see the one month. as you draw the line across from here all the way over to here, you are basically even month to date, 0.15%. after all we've been through this month. >> it certainly doesn't feel that way on that note we have a bunch of data coming out next week that could set the tone one way or the other for either this idea that the fed is going to ease up somewhat or the idea that maybe

they might not that's why i'm going to be especially watching yields here. one thing that the market hasn't proven is that it can keep rebounding, even as yields keep climbing higher. there's the 10-year, 2.7'74 today. if the data next week isn't dovish enough, that has me wondering. >> there's the 10-year note at 2.74, yields have come down from that 3% level. >> it's giving some breathing space for if you want to call it the fed or just the high growth, sort of high multiple trades if we see yields go back higher, that would be the real question for me is how does the market hold up and hang in there. >> so we wish you a very pleasant memorial day weekend, and remember why we celebrate memorial day for all those people, men and women who gave their lives in service to our country protecting our freedom. >> absolutely, thank you very well said thank you, everybody, for

watching "power lunch. >> "closing bell" starts in just a few seconds. all right, guys, thanks so much stocks rallying and putting the dow on track to finally snap that eight-week losing streak on new signs inflation may be slowing. the most important hour of trading starts right now welcome to "the closing bell." i'm scott wapner in for sara eisen. let's see where we stand with one hour to go in this trading week you can see we've had a nice day and we are holding on to those gains. there are a lot of superlatives you could say. the dow is holding on above 33,000 it's been an obviously strong week for stocks, but if you really put into focus the fact of where we came from, the intraday lows last friday, the dow is up 7.5, almost 8% so that's the market picture right now. technology, real estate, consumer discretionary are leading the gains today. all 11 sectors are in the green. tech is having a huge week coming