arthur hyde says these stocks have been unfairly hit by action and independent cycles he's maximum bullish right now give then sea change for nuclear power since russia's invasion. >> you feel like it has to be so we'll watch to see if the stocks catch up pippa, thank you very much our pippa stephens that does it for us. we'll look at one area that could be a tipping point that's next on "power lurnch. i'll see you there and we will welcome you over here to "power lunch" in just a moment, kelly. welcome, everybody i'm tyler matheson, here's what's ahead a top analyst says sell. sell meta, the estimates are too high and competition is intensifying and it may take a long time to payoff and we have the call of the day and the full

blown energy crisis in europe and trr growing calls to turn down the lights as the power plights surge and the heat wave on the continent and we'll have the details later this hour. kelly? >> tyler, welcome back thank you very much. hi, everybody. the dow has turned positive today. erasing a 200-point drop and th nasdaq still down 1.5% wynn resorts and las vegas sands are among the worst performers in the market as macao begins a one-week shut down and the stocks have a new regulatory headache and alibaba failing to comply with antimonopoly rules and not disclosing transactions and baidu all lower anywhere from 3% to 4%. ty >> a challenging week for investors as earnings season kicks off and key inflation data loom here to break it down and stocks to watch is stephanie link,

chief investment strategist and portfolio manager at hightou are. good to see you. >> good to see you, tyler. the macro economic data out this week one is cpi and the other is ppi. are you looking at any signs there with inflation maybe topping off? >> it is going to be a really busy week, right between economic data and earnings yes, all eyes are on cpi 8.8% is what is expected even if it comes down a little bit, it's still very, very high and it won't change the fed's outlook in terms of raising rates and these are year over year numbers and also looking at retail sales as well as university of michigan sentiment numbers and those will be market moving as well and then we turn to earnings and earnings in the second quarter are up 5.8% and total revenue of 8.5% and a 40%

contributor to the total revenue number and expect those numbers to be very, very good and revisions higher and financials will be the only sector to have a year over year decline in revenue and that's tied to weak capital markets. >> how much will the revenue increase apart from -- in energy you'll see them no matter what how much of the revenue is traceable back to inflation? >> oh, i think a lot of it is due to inflation, but i think the reason i highlight the energy component is because they're winning on a number of funds. they benefit from insulation and printing money anywhere north to $50 oil and i expect good revisions there. >> let's look at the stocks that you have on your screen. one is pepsi >> yes >> we're expecting a good number and 7.7% and i expect them to reiterate the 8% and what we heard during conference season was that consumption has held up

remarkably well and costs have gotten no worse. so that's obviously positive for them they have pricing power, we know, but is it leading to demand destruction and that's going to be the key on the call. the stock trades at a 1% discount to coke it trades at a 1.5% premium to coke, and i think coke is much more crowded i like the pepsi idea. >> stephanie, it's interesting overall to look at the banks and see how poorly they've done this year when do they shake off this malaise? >> oh, gosh. that's a million dollar question, kelly? >> is it thursday? they were the ones that came out first thing and said expenses went up and it seems the stocks have never recovered. >> no, they've never recovered wells fargo is down 17% and that's bin the winner believe it or not on a relative basis and i'm looking at morgan stanley and wells fargo because i own those two and i still believe they're very attractive and they're really cheap and they

offer compelling dividends and morgan stanley is more diversified from the e trade acquisitions and we know capital markets are going to be weak as i mentioned and they will be better in fees and netmanagement and then you shift over to wells fargo and the number to watch it well is the cost figure as 55.5 billion for the full year if that stays flat it will trade at 9.6 times book. i don't know if this quarter will help the stock and for the long term i still own them and like them. >> final thought on united health >> the only problem with united health, tyler is it's, pensive and it's 24 times forward estimates and i expect a good number, upbeat and they usually trade down on their earnings for whatever reason i will be buying more and it's my largest health care position and they're the dominant payer of scale in commercial, medicare, and now in local with optum and they should

buy five to six billion in stock. >> a busy, busy week ahead, stephanie. thank you for walking us through it stephanie link >> thanks. now let's get to today's power call the note everyone on wall street is buzzing about, need am one of two sell ratings on the whole street, competition, consumer behavior and risk around the metaverse investment a few reasons why they say it's overvalued and why needham also says it's not a growth stock anymore. let's bring in laura martin, analyst. it was the decade of netflix you won that round and now it is all about met at and facebook. i think a lot of investors in the stock should say sure, fine, it's not a growth stock and a value stock, i'll take it. it's still behaving like a growth stock with the metaverse investments and at some point

they need to decide what they are and what they're going to be >> a little bit. in the near-term move to the sidelines because the ceo will increase spending this year at the same time hissa algorithms r moving with the tiktok knock off with the higher monetization so he had told you he's going to orchestrate margin pressure. at the same time we all know short term that apple's degradation of his target ability is hurting the cost for thousand as he's able to charge advertisers. so we know this will be a very difficult year for him while can he actually get the 94 million kids that moved to tiktok, can he get them back because they're the content creators that's the question. >> there was someone much more bullish on meta for precisely

the reason that they think facebook and especially instagram are going to steal the crown back from tiktok and especially if tiktok comes under further u.s. regulatory pressure is that possible >> maybe, but the problems we have now, when they bought instagram and this company, as you know, regulators are thinking about outdoing those acquisitions this company will never be able to buy another competitor so they'll have to always do this, where the competitor is successful and they'll spend billions of dollars trying to catch up some day they won't win, so eve if they can win the tiktok battle like the snap battle it's unclear to me if they stop the next one they don't control content and they don't control the distribution the content is fickle and it can leave and go to tiktok or someone else and the

distribution is through apple and android and meta has no voice whatsoever >> what happens if their version turns outside to be wrong and their hardware turns out to be eclipsed by somebody else's hardware there are other manufacturers out there. i could name at least one. >> sure. that's a great question, because what the ceo is saying the materiel revenue comes from 2030 the big question is why own the stock in 2022 if the return on investments are in 2030. let's go somewhere else and come back in five years and see if his reality will turn out to be the right one and whether he's the hard one that's winning. >> with the stock down 50% perhaps the better question is why are there only two sells on the street

that's a great question. they'll have to talk to somebody else >> when you move a company to sell, and we talk about it because it is so rare. what does that -- what should we assume your time period is for something like this? how finite is this call? so usually, we're using a one-year timeframe so we're saying move to the sidelines while you assess sort of the strategic long term value drivers here especially the competition and some of the consumer behaviorship and get back the users that they've lost to tiktok. so stay on the sidelines until you get data points on that. >> if you don't buy meta, what do you buy instead >> we like other ad-driven names. we like trade desk down from a 36 multiple to a ten which that's a class management and the start of what i would call a monopoly in advertising.

we like magna here and apple here at these prices and we really like $90 billion of free cash flow a year which is what apple has every year and they do their own distribution that's pretty nice 90 billion of free cash flow thank you very much. laura martin, we always enjoy your time with us. appreciate it. the yield on the ten-year back below 10% pimco's jerome schneider will make sense that the signals that the bond market is sending as inflation fierce collide with growth concerns. plus elon musk walks away from twitter, taking a beating down 28% over the past three months so what's next for twitter is the stock investable now? as we head to a break, lululemon and underarmour both lower on jefferies downgrade as competition for lulu and management volatility for underarmour when we come back.

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♪ ♪ welcome back to "power lunch. i'm dominic chu. shares of nvidia sliding 3.5% after piper sandlay citing among other things continuing issues in china and russia.

also gaming laptop weakness and concerns over recent weakness in crypt on currencies that could lead to a slowdown in mining shares are off the worst levels right now, but they're still down the 3.5% mark that's positive for the month, but have been cut in half so far this year. by the way, check out the semiconductor etf slipping today, well off the session lows and watch the semiconductor chip stocks >> nvidia, one of the great darlings of 2021 not so much this year so far thank you, dom treasury yields moving lower though the yield on the two year does remain above the 10-year this as the bond market looks ahead to key inflation data later this week. rick santelli tracking the action as he always does with the power player in the bond market rick, over to you. >> yes, and thank you, tyler i'd like to welcome jerome schneider and managing director of pimco and head of the portfolio management

jerome, we haven't talked in person since covid hit it's great that you're here in chicago and while you are, i noticed the vix trading around 2610, and the reason i bring that up is if you look at the high for the year that's the midpoint and i know one of the themes we're going to discuss is the liquidity issue and the volatility issues that are affecting equities and interest rates and that shows me this investors are getting used to it, but they're definitely not looking forward to more of it. >> you can extrapolate it to fixed income and rationalize that even when you look at front-end rates you see a tremendous amount of volatility even in the past month the two-year note has gone from 2.8% to 3.1% today so the volatility that we're seeing in the marketplace is punctuated by a no known in the markets place and the federal reserve is ever more data dependent than they ever have been in recent memory and that's

creating a little bit of uncertainty, and more formidably is changing liquidity conditions for investors across all asset classes and so as we think about where rates are going, we really should rationalize it in terms of thinking of what do those macro economic sensitivities and understanding that the federal reserve's destination may not necessarily be as important here especially as we have to keep an eye on where volatility has come from and they should rationalize where they've come from. front-end rates are no longer in the shape of a doughnut. rates have moved higher and it's increased the cost of capital. >> as i look at yield curves, we're invirted as tyler pointed out around 307 and they're trying to get over 3%. so we have juicier yields in the front and that's always a positive and you've also accentuated that you talk about a data dependent

fed. first of all, i know they are, but have they ever ignored the data no i guess my issue is is the track record isn't excellent they definitely did not see inflation even though they had big seeds to make it grow. shouldn't investors be a little bit concerned that they seem out of phase past and present to some extent and qt has barely been active for what since june >> to your point, the fed has been dealt a pretty difficult set of cards and hand, it's something they relied upon in terms of communication in recent memory now the data dependency is slig slightly working against them in terms of how the market is digesting information. the job will pivot to what they're focused on in this week. and that's where we want to be so it's jobs, jobs, jobs, pretty good report and now how do you take that which nothing in that

report smelled of a recession and now we look to cpi on wednesday and ppi is not as important in the marketplace and you're looking for 1.2 month over month and everyone is looking at year over year and give me what happens if inflation on cpi is higher or lower than expected. >> this is the point and it will emanate volatility no matter what and there is a split decisions and the interest rate risk and volatility and equities throughout the market system what we also have to rationalize is illiquidity premium has gone lier because we don't know the destination. >> you have to pay for taking the additional risk. >> higher liquidity and taking about active liquidity management is necessary. in doing so, you will be able to absorb the risk premium if you're going to have a higher cash standard. so the structure is changing the interest rates are moving higher and the short maturities will give equities a run for

their money in terms of strategy jerome schneider, thank you for joining me in chicago. kelly, back to you. >> thank you very much with jerome schneider today up next, carbon cash crops we'll take a look at a company that helps farmers benefit from carbon credit and elon musk. the controversial ceo walking away from his deal to buy twitter. we'll bring you the very latest and what could happen to twitter next speaking of controversy we'll look at names that wall street is getting against ieain season in today's three-stock lunch. we're back after this.

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>> welcome back, everybody to "power lunch". farmers obviously get cash for crop, but what about cash for carbon credits it's how one start-up helps aim to pick the sustainability issues plaguing the farming industry which is on the one hand, one of the worst climate offenders, but also at very high risk from climate change diana olick joins us now with her continuing series "clean start. >> hi. what if you could not only reduce the carbon emissions, but also create healthier crops and

produce profitability? indigo ag claims it can. >> what we really focus is how do we bring new revenue streams to the farmer as they make this journey to sustainability? >> the answer is better farming funded by carbon credits indigo ag works with farmers on specific climate-friendly strategies to draw down carbon dioxide into the soil and emissions. planting cover crops and improving tillage to improve soil health, water quality and biodiversity this makes crops more resilient to climate change. indiana farmer lance unger was one of the company's first clients. he's new reducing his tillage and planting cover crops after the normal harvest >> we'll go back in there and plant something to basically kind of help out organic matter and help the soil. >> in turn, unger gets money from indigo ag's carbon credit

program. they're sold to corporate buyers and 75% of the proceeds go to the farmers. >> and they'll be issued by the climate action reserves the registry that drives the oversight and sets the high quality standard that we adhere to and the farmers are working toward >> indigo ag started with a pilot of 75 farmers and has now enrolled more than 2,000 >> if we can take and make our farm better and make our ground better and help out the environment and get paid for it at the same time, i mean, it's just something that's an extra, added benefit. >> that's the win-win that we can see and we get to grow a nice business with it. >> alaska permanent fund and investment corporation of dubai and bailey gifford total funding so far, $1.2 billion >> indigo ag introduced the first farm soil carbon credits just a few weeks ago with its program producing 20,000 tons in

credits or emissions offsets buyers include, j.p. morgan chase, the northface and barclays back to you guys. >> it seems that farmers would extinctively want to protect themselves from carbon change. why do they need a company like indigo to do that? >> simply because they don't have the science and technology. remember, farming is basically the oldest business there is, and a lot of these are older family farms that either don't have the technology, don't have the know how to get these climate friendly procedures in place or they don't have the money to do it and that's what indigo, g aims to do. >> you had the farmer who was in the piece, how much would he in a year get in those carbon credits that are then sold to investors in the markets how much does he get >> we don't have the numbers on that yet because it depends first of all on the price of the carbon credit which is change market to market and time to time so you would have to wait, see how the program goes first and hopefully get some numbers

within the first year. di, thanks appreciate it. >> let's get to kristina partsinevelos for the cnbc news update kristina >> thank you, everyone here is your cnbc news update at this hour. the administration calling a group to the white house lawn for a bipartisan gun control law. president biden called for a ban on assault weapons that expired in 2004. >> in that ten years it was law mass shootings went down when the law expired in 2004 and those weapons were allowed to be sold again, mass shootings tripled. the department of justice is investigating whether the pga tour engaged in anti-competitive behavior as it prevented players from jumping to the tour backed by saudi arabia. this is the second time it's come under federal probe it faced scrutiny that barred players from non-pga events. the commission backed off the following year the pga saying to cnbc this was

not unexpected we went through this in 1994 and we are confident in a similar outcome. >> and monty norman, the brit inc inchish composer who wrote the theme song for james bond, he was 94. >> wish we could play the music in his honor prices and shortages continue across the continent. what are the long term damages it could cause we'll explore that as we head to break, check out some of the cloud and software names down big today including names like fastly leaving the decliners down 14% and morgan stanley downgrading it citing a tougher spending eirmenvonnt taking down the whole sector we're back in a moment

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>> welcome back, everybody 90 minutes left in the trading day. we want to get you caught up across the marcos stocks, bonds, commodities and a look at europe's unfolding energy crisis let's start with bob pisani down at the new york stock exchange dow's turned green, bob. >> yes a little bit better. we are down 80 points on the dow right now, but we were green briefly earlier, but it is still

2-1 declining to advancing stocks and you were mentioning some of the software and computer names and the group in the thematic area is everything associated with social media look at meta down. that stock was down $320 in february it was cut in half and a lot of analyst comments and needham cut them to underperform just yesterday and twitter also weak and match group and these are different kind of sectors and snap, the whole social media set is on the down side. more predictable are the casinos and the macao, and mgm and a lot of the other casinos on the weak side the electric vehicles/autos and alternative vehicle space and tesla is weighing on some of these. plug power is notable on some of these and plug power and it's weak and separately in the same space, gm, that's right near 31

and that's right near a 52-week low for general motors and finally, i would note the commodity stocks aren't doing anything they seem like yesterday's story and haven't had energy for a long time. even freeport mcmorran and remember, these were the big movers just a couple of months ago, but they seemed to have lost their buying enthusiasm and the odd thing, kelly, we're going into earnings season when these oil companies will report the greatest profits in the history of the world and 120% higher profits than they were a year ago and everyone seems to have suddenly lost interest. >> it has turned on a dime and breathtaking in the last couple of months. our bob pisani similar dynamic and the drop in commodity prices is pushing yields lower and they're falling as investors brace for key inflation data later this week the cpi wednesday. the ppi thursday, and the ten-year yield on the top there just under 3%, down ten basis points and lower on the two-year

note oil is closing for the day and let's get detail on what exactly is playing out on the commodity space. pippa stephens here. pippa? >> oil dipping and ending off the worst levels of the day. some of the weakness is thanks to fears of the demand slowdown out of china the you're asia group with the bear's signals are overshadowing geopolitical concerns and supply constrains and wti down 7% at 104.10 and brent crude at 107.12 and natural gas surging another 6.5% after posting its first positive week in the last four and an explosion at a gas plant boosting prices asking texans to confirm power amid a statewide heat wave. the energy stocks starting the week in the read and one of the underperformers after goldman

cut the stock with a neutral rating with 100% gain this year. >> yes 104%, in fact. shocking pippa, thank you very much >> europe is on high alert as russia temporarily suspends the flow of gas from a major pipeline to germany. now while maintenance on the pipeline is scheduled to finish later this month, germany's energy regulator is concerned that the shutdowns may extend to who knows how long as natural gas supplies are dwindling and that's just one piece of the crisis as europe's energy problem grows. let's bring in worldwide exchange anchor and our senior national correspondent brian sullivan for more. scary stuff, brian >> here, too you heard pippa. it's amazing that electricity prices are finally getting more attention. we'll have more on the nord stream pipeline story which has a bizarre twist to it at the end and i'll get to that in just a moment, but first, the key headlines that have happened in the last 48 hours.

we're doing the work so you don't have to. the prices in europe continue to hit new records, in france they hit $400 megawatt compared to germany. by comparison boston is paying $40 to 45 bucks and parts of europe ten times higher on the wholesale power prices and that is leading for more calls to dim the lights and leaving french power company executives over the weekend to call for rationing to help alleviate the problem. dim the lights, don't run the air-conditioning and crank down the heat in germany the company is begging the company for a bailout. the company called uniper the biggest importer of natural gas in germany and has losses up to $10 billion subprime-like bailout here bank of america said europe is getting into a, quote, burn anything at hand to keep the lights on phase.

they reached a price forecast for coal this year and next year by the way, coal, already the best performing commodity. in austria re-start a coal plant closed two years ago so how might it can impact people it can lead to social and civil unrest so warned the top officials over the week snernd sound crazy, kelly it's not dutch farmers are blocking roads because of crushing new emission standards. in sri lanka, their government was just toppled over energy policies as well as issues like food production related to chemical fertilizer which is an energy story this is just for you, kelly. the most bizarre story of the w weekend. canada prepared a turbine part for the pipeline they are now sending it back to germany which will then give it back to gazprom. so despite the sanctions,

conditio canada just picked a part to send more natural gas to europe. so more of the graz prom, and it went down for tern days due to maintenance and very little gas flowing through it and the question is what will end up at the end of the ten days if gazprom decides to not turn the gas back on and if you're on the ra radio doing the air quotes, things can be a lot more rough i love the canada story where it sanctions with putin, but we'll fix one of his turbines. >> why did that happen or how does that not fall under the sanctions? >> so tyler, hi, by the way, the turbine will not be sent directly back to gazprom. >> it's being sent to germany. it's technically a german fix. >> that's right. i want to send a package to kelly, but i have sanctions on

kelly. so i'm going to send the package to you, tyler and then you can give the same package to kelly with my affection. that's what's happening. >> what's an anvil it's the acme anvil company, so that's what they're doing and they're trying what they have to do, tyler and kelly to fill up the tanks ahead of winter. 400 euros per megawatt hour, for what we are paying even in texas today, it's not nearly that high with what they're dealing with how do you keep the lights on and how do you keep the factory on and michelin was converting oil to coal. we're talking about going back to coal to make tires. is that esg? i don't think so that's wt -- something >> i want to ask you about the, quote, mants nance shutdown of nord stream 1 by the russians. that was in any way scheduled maintenance? did anyone know that was coming or did this come out of nowhere

which would certainly increase the odds that the air quotes are correct? >> well, okay, as i understand it, sort of smith the difference they do need to have maintenance at certain times it's not like this was long planned as long as i understand it, and maybe knows more than i do and it's not like it happened as well, and there is maintenance and the fact that the turbine had to be removed and then shipped, of course, to germany, to canada and germany back to somewhere in the baltic sea is probably where the turbine has been found so could there be more maintenance issues, tyler? absolutely >> what's not on that map is kazakhstan okay cpc, caspian pipeline consortium they're very close to having issues with that pipeline because a moscow court is dithering over paperwork that's kazakhstan, but it's russian oil. so russia has the power to shut that off and that's 1.2 million

barrels per day and over 1% of world production, but in this market, kelly and tyler, every single thing matterses and they were using court, paperworks and at a speech in st. petersburg in june and he wants to cause social unrest. look at what's happening in the netherlands. and talking roads because they're mad about e missions standards. >> brian, thank you very much. >> it's a global story >> certainly is, and you can bet that any mischief that putin can stir up, he will brian sullivan, thank you. >> flown away from the coup, elon musk abandoning his takeover attempt of twitter. we'll look at the likely repercussions and with the dow falling back into negative territory. the nasdaq down nearly 2% and the s&p out ab1% lower

there's something out here. - nope. - nope. nope. nah. no. nope. - hell no. - no. elon musk walking away from his deal to buy twitter. both musk and twitter lawyering up for a prolonged legal battle with potentially damaging consequences so where does this leave the stock which is down 9% today

28% over the past three months julia boorstin has some different scenarios about how this all could play out. hi, julia. >> well, tyler, none of the potential scenarios are particularly great for twitter musk's allegations that twitter is withholding information about bots and is undermining its business by firing key employees, questions for investors while twitter taking this to court spells a protracted battle which, of course, could be a costly distraction hurting the company's ability to hire and retain top talent at a time when the overall adbusin business is contracting and more rival ads are coming to the market as to potential outcome as they negotiate a price with twitter's board and failing to do its fiduciary duty if he goes through the deal then he could sell the company again,

but there don't seem to be other eager buyers of course, he could be allowed to walk if he pays the $1 billion termination fee or he could be forced to pay damages on top of that fee now that's what baird's analyst predicts its $33 reflects 90% probability of no takeover, but with some compensation jefferies warns that musk's concerns about turnover and layoffs are indeed warranted without a deal they see the stock finding a floor at th$23.0 warning that core fundamentals are rattled by the process and there are headwinds facing the onli online ad industry it's been quite a journey, kelly and tyler? >> it does not seem to me that this in any way is as simple as mr. musk seems to think it is.

walk away and maybe pay a million dollar break-up fee and it's all over with i can't imagine that the board or the shareholders or class action lawyers wouldn't get involved here and sue the bajabbers out of musk. >> yes now, look, this is going to be a very complex case. the outcome, i do agree, tyler, will not be binary it's not a question of is he forced to buy it at 54.20 or can he walk away and pay a $1 billion breakup fee. i think there is something in the middle and there are many, many options of how this will turn out in between those two poles. >> i think at the time the stock was, what? 52-ish >> yeah. it has fallen dramatically since then and even looking at the stock continuing to drop today you have to look at the fundamental questions of what is twitter worth if elon musk is not involved with it and the

stock's down 10% today and last week i heard a number of ceos in sun valley speculate to me that maybe musk was the right guy to fix up twitter and bring some new energy and innovation and make the platform more accessible in the same way that he made tesla and electric vehicles widely accessible to the masses and sort of kicked off an innovation there and that was before this big move friday afternoon and there's a lot of concern that this company will have a hard time not only just getting through its normal business and holding on to employees. >> you would think and with the stock crumbling like that, a lot of people seeing wealth crumbling with it. julia boorstin. >> coming up in today's three-stock lunch, we'll take a look at instveors betting against earnings you don't want to miss it.

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welcome back time for our three stock lunch on today's cocktail menu, beaten down retailers the street is betting against ahead of earnings they each have more than 20% short interest to their float, down more than 30% from their highs, and here to help us trade them is managing director and head of technical analysis at

oppenheimer. great to see you let's kick things off with guess. buy, sell, hold so to speak? >> i think here's what we stay away from we say rbs in line with the high short interest here a stock that's been making lower highs since 2007 yes, over the last 15 years been making lower highs now once again, it's trading back below where it was even precovid and in early 2020. so just telling here the strength whien times are goo is outweighed by when times are bad. it's indicative of structural weakness i still see risk it's a stock coming in to support at $16 that was the march low but we see vulnerability of a down side breaking for all these

reasons, we would rather sell strength into $19 resistance that being the stock's 50-day average. >> let's go to sonic automotive. sonic boom, sonic gloom. >> got a theme here, tyler it's weak. perhaps not weak enough. it's -- we see signs of a topping process at hand. coming into an important test of $35 support. the potential net line of the top pattern. that is the prior breakout point, the 2020 rally above the 2019 peak. but it's a stock showing very poor relevant strength negatively aligned moving averages the 5100, 200 day pointing lower. and for all these reasons, see the case that this recent consolidation does break lower and that support fails to hold so another one we are staying away from and selling. >> all right dick's sporting goods?

>> all right i got some good news here. >> all right >> sell, sell, sell here i got one. i think this is what makes sense. in this market, a stock like dick's, and here's why from our vantage point, it is correcting from a position of strength it is down 39% from its peak it's underperformed the market 50% of its prior bull market but it held breakout levels. it is holding longer support levels that believe on a longer term basis, i can make higher highs and lower lows i think as far as they're along basing a process here. here is some levels i'm looking for. right into a test of $87 you get above there, do you have now a higher high to work with i think you can be tactical, maybe buy it in the mid 70s or 74 dlfrment but as we think about a recovery in the equity market and the back half of the year and we're already starting to see some of the growth stocks

find their footing, no the that dick's fits that, i think it is one that is properly aligned to be part of that recovery in the back half. if you have a time horizon, let's say six months out year end, i think dick's is going to be higher by year end. >> all right we'll leave tlit it there befor change your mind thank you today. we appreciate it for more high interest stocks that can present opportunity, visit our website. >> next, it's not all gloom and doom in the nasdaq 100 we'll look at the stocks trading close to the 52-week highs more "power lunch" ahead with the nasdaq losing steam ceon again, now down nearly 2%. and buying your starter home. or whatever this is. but the things that last a lifetime like happiness, love and confidence... you can't buy those. but you can invest in them. we believe that your investments should work harder for the future you imagine.

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all right. the nasdaq 100 is trading about 29% below the 52-week high there are some standout stocks trading near their yearly highs. and dohm chu has them. >> we focus a lot about some of the stocks that have been hit so hard but take a look at that nasdaq 100 trade through the lens that atracks the qqq. 29% drop from where we are here. again, if you take a look at -- we mentioned tech heavy a locht it's not all technology. we know some of the bigger companies outside of technology have been doing pretty well. so take a look at these. there is a dozen stocks in the nasdaq 100 that are within 10% of their 52-week or better high at this point.

amgen, pepsi and monster beverage are within 5% of the recent highs you take a look at amgen, pepsi and monster beverage, consumer staples companies and then the health care biotech for amgen. the single best foremaning stock in terms of distance away from highs, check out vertex pharmaceuticals. that stock is running an eight day winning streak it's up, you can see there up 49% over the course of the last year up another .5% today so there are some relative momentum trades that are playing out right now in the nasdaq 100. they just don't happen to be in technology we often say tech heavy nasdaq when we refer to that trade. but still some of the health care bioteches and consumer staples in the nasdaq are doing well. >> forgive me for not knowing vertex, why it may have moved that way >> health care is a huge momentum trade so far. it's been a defensive play big pharma all of those types of companies that have done very well

some of these companies have actually paid a dividend not some of the biotech names necessarily. but vertex is a stock that has seen investor sentment as things go the worse for other parts of that tech trade. >> all right thank you very much. dominick chu. >> thanks for watching "power lunch," everybody. great to have you back. >> nice to be back thank you very much. "closing bell" right now thank you, tyler and kelly the nasdaq getting hit hard as a week full of data and earnings gets under way the most important hour of trading starts now welcome, everyone, to "closing bell." the take a look at where we stand. down 1% on the s&p 500 dow down less than half of that. it is faring a lot better. the nasdaq that is bearing the brunt of the selling today tech heavy stocks down 2%. tesla, amazon, meta, apple, nvidia weighing on the nasdaq. small caps down almost 2% as well and the dollar continues its march higher there are the laggers right now on the nasdaq. the chinese internet names getting hi