halliburton, i looim liook like schlumberger >> and josh, you may see him this afternoon he is clearing his schedule. what is your final trade >> nvidia. if you think this tech bounce has legs, this name will definitely play. >> see you in a few hours. thank you, scott hi everybody and here is what is ahead on "the exchange." bulls are back in charge with stocks staging another strong rally. perhaps this one will have more staying power than yesterday's we look at why we may be closer to the bottom than the top one of our guests was positioning for what they call significant up side ahead. and plus a major divergence between snoougsinstitutional anl inve investors. we'll tell you what it is. and the streamiiing giant expecd

to lose 2 million subscribers, is the bar finally low enough. and two other names, all in today's earnings exchange. first let's get to the markets and dom chu has our number >> has the market gotten low enough to be a buy one of the reasons why you are seeing such volatility in a maybe what can be characterized as a consolidation phase for the market right now, trying to figure out what the next leg will be up or down the dow industrials up around 600 points, we're kind of toward the highs of the session the s&p 500 now above 3900 again up 85 points, 3916 the last trade there. and then 2.5% advances for the nasdaq 11,65 11,645 the last trade there. one place we've been seeing a good a of amount of action is the earnings reports from the banks. and if you look on a one week

basis, citigroup shares are up nearly 12%, 8% gains for goldman sachs and wells fargo. i highlight those three that are handily outperforming the market s&p up a very respectful 2.5%. so watch those big banks and whether they can break out in some way it has been a consensus call for a lot of people that hadn't panned out maybe this time around it changes. we'll see. and stock of the day, you saw the headlines in the last hour or so, twitter shares on an in intra day basis, you can see the spike. and what happened was in the battle between elon musk and twitter over whether or not twitter will be taken over by elon, this is what hasaware coun fwhi twitter in its request to get a five day trial in october. elon musk wanted it postponed to early next year. 3% to the up side there. and of course reminder $54.20

right, that is the level we're looking at, that is the takeover price that eallon musk agreed to >> so far looks like twitter is getting what it wants here thank you very much. and in terms of the market, bulls are finally having their moment even krin toe is at multimonth highs. is this a head fake or is a durable rally forming?crypto is highs. is this a head fake or is a durable rally forming? >> bulls are attempting to convince a sceptical community that earnings won't collapse this summer. take reports that apple would slow hiring but it is right back to where it was. immediately analysts like dan ives said that the street is well aware of weakness and is looking past june numbers to the september and december quarters. apple is continuing to focus on a robust product pipeline and services ramp into 2023.

instead he is saying don't worry about things now, it will be better down the road bulls admit we could see a retest of the lows this august or september on short term concerns over earnings, but they look to the end of the year into 2023 they argue that the economic data is going to be improving, that the fed rate hikes are all front end loaded right now immediately, and there will be rate cuts in 2023. and that the earnings estimates are already lower and stock prices for key sectors like speculative techs, banks and industrials were at new lows just a few weeks ago and they do have a point earnings for the s&p have been very study this year, expecting overall gains of 10% and almost the same in 2023 but most of this is because of huge profits from oil companies. other sectors like banks, consumer discretionary and communications services have seen notable declines in their earnings estimates tech earnings estimates have been fairly steady still that doesn't mean that we

can't reset the lows even the bulls admit this. it could be a long hot summer. and apple is back to 150 which is exactly where it was yesterday before they announced. and 3916, we're now trading at the very high end in fact just above the range that beach on the s&p 500 for the last month that has been significant resistance now so we're now starting to break out a little bit overall bulls might have a little point here >> notable levels to watch bob, thank you very much and my next guest echos a lot of what bob was just saying, he says the overall backdrop is turning positive and that we can achieve new highs sometime in 2023 let's welcome in chief investment strategist at mariner wealth advisers. jeff, good to have you what is interesting about your call, i think that people worry that that recession will finally hit in 2023 and would almost being more bullish in the very near term than they would into next year. why do you see things a little differently? >> well, first of all, thanks,

great to be on the show. with regard to risk recession, it is amazing that we assign these proeblgtss as we try to do with all the variables to recession. and i think the average economist, the average call for recession or probability of recession is around 50%. so we have to remember that there is, you know, 50% chance or coin flip that we don't even have one but regardless of if we do have one, i think most believe and i would agree that it would be mild in nature and if you look historically at mild recessions, the market generally falls somewhere around 25% in periods that are associated with such type of slowdowns. so, you know, i think that we should be really looking at this point after the multiple compression that we've had, if we get any sign of inflation calming, and i think that they are out there, i think that you will get a multiple lift on decent earnings and that is what creates this up side that we're talking about. it does look like in the behavior of the market, you can

see signs of bottoming that are out there as we speak. crypto is an example of it along with recovery in some growth stocks the last month. >> and elaborate on that if you would. we check in occasionally and this is the most bullish i've heard you lately so tell us more about what you are seeing and what gives you the confidence that this won't be just a couple day or couple week long event? >> sure. so i would still say we are in the hold your ground camp because we would like to see a little more of this good behavior continue with regard to calming inflation and also the leadership that we see in the market but that is what makes me more optimistic than the last time i was on your program. and that is if you look at the last month, the s&p 500 after the bottom on june 16, it is up about 7% but look at what has led over that month period as it has recovered a little bit you've had consumer discretionary, considered to be

a risk-on sector in the market, up over 9% over that time period technologies up about 8%, it has outperformed the s&p 500 the areas that have lagged have been energy and materials, they are actually in negative territory, they have declined over that last month and what that tells you is because commodity prices have come in and that is a positive for future trend in inflation. so that is a pretty nice mosaic of saying, hey, this market is going to bottom and believe that the fed may not have to hike as much as it has been seered >> and your strategy is all about stock picking across a variety of sectors important to look at those fundamentals and yet some of your picks are almost controversial right now because they have been in the news names like service now tesla speaks for itself. even starbucks

why do these stocks jump out to you? >> well, first of all, there are company specific reasons for each of them innovation is i think a theme that is throughout and high quality is actually a theme that is throughout and productivity or green energy, the tethering to the secular areas of the market, secular driver areas of the market so, you know, you take something like a tesla or an aptive and that is tethered to green energy, electric vehicles, and these are just dominant companies. service now is priced at 15 times earnings with long term growth rate of 30% this is work flow management the one thing that we need in the midst of accelerating inflation. and their products will allow that to happen and so i think that it just --

the idea that growth is dead and that just because rates are coming up to normal, you're not going to see long -- quote, long duration stocks do well, i think that is ludicrous. i think that is key to have a plenty of old economy and new economy and these are certainly new economy stocks >> i love the defense. thank you for bringing to the judge. well, no, i'm not the judge. we've got the judge. jeff, thanks so much for your time today let's turn to housing now where the hxb etf is up 14% and data this morning added new wrinkle to the housing story where we're seeing surprising strength in multifamily construction diana olick is here with all the details. >> but we're seeing a shortage of homes for sale that is keeping prices so high in the single family market and now the homebuilders are not happening single family housing starts in june were lower than expected down about 8% for the month and off close to 16% year over year.

that is a two year low single family permits which are an indication of future construction also down 8% for the month and about 11% from a year ago also a two year low. now, builders were reacting in part to that spike we saw in mortgage rates in june 30 year fix shot up over 6% and stayed in the higher fives but they are also seeing slower demand from buyers the sharp decline in builder sentiment in july showed big drops in buyer traffic, current sales and future sales expectations and in that report 13% of birlds said that they were dropping prices not just to get more buyers in, but to slow rising cancellations. we'll be watching for those cancellation numbers in the earnings reports starting later this week. and so weak affordability and concern over inflation are hurting demand for new homes which are generally pricier than existing counterparts but the total supply of homes for sale is still well below demand so builders may reduce prices but it will take a while to see

prices cool substantially in the existing home market and of course that is a boon for the multifamily market >> we've seen rents surging and maybe this is a durable piece of the story. and i guess the reason why i find it so interesting is when we've seen past cycles like the housing bubble and crash, there were no offsets, really no strength everything rose and fell together i wonder this time around if multifamily can at least provide some ballast >> it can. and we saw the starts increase nicely in the report on june multifamily obviously not quite as sensitive to the monthly moves in mortgage rates as all and they take longer to plan those communities. we are starting to see rents moderate as well we're seeing it in single family and multifamily. and so that new supply coming on is definitely going to help in affordability and rents. but not sure yet when those prices for single family homes are really going to start easing up >> if they do. diana, thank you for now coming up, every chip maker

is positive for july the group is pushing towards its best month since november. do they even need the chips act or is this because of it we have the latest details next. plus can netflix avoid another earnings wreck, is the worst over for jb hunt

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welcome back chip make yourself have finally put together a three day win streak, but you can see names mike micron still 37% off its highs, same for intel down 28%, texas instruments down 18% all this as the fate of the long delayed chips act hangs in the balance. manufacturers like these three would benefit from the $52 billion in subsidies but will the bill ever make it to president biden's desk? ylan mui is on capitol hill with the very latest. >> senators are still haggling over those final details as well as the final dollar figure i spoke with senator todd young just within the past hour and he is one of the leading republican negotiators on this bill and he said that he is trying to lock down 15 gop votes to add back in

provisions on research security, expedited permitting, as well as the potential one year retroactive extension of full r&d expensing. that could bump up the price tag to $72 billion, though young said that republicans have a long history of investing in national security without having to offset the costs. democrats have trying to move ahead with the first procedural vote on this bill today. senate majority leader chuck schumer called the bill critical to freeing up splupply chains, fighting inflation and pro protecting our military. >> bottom line is that we must come up with a package that is capable of passing this chamber without delay. we must act as soon as we can to make sure that we bring chip manufacturing back to america because our nation's security depends on it. >> we still have not seen the final text of this legislation

and it is unclear if senators will agree to move forward if they haven't seen the finished product. back over to you >> absolutely. eylan mui following that progress few companies have lobbied as hard for chips act as intel the company has big long term spending plans and has already baked in subsidies from the bill into its forecasts my next guest is skeptical whether the bill has any meaningful impact. did i characterize that correctly, stacy in what do you think the impact -- let's say specifically to intel would be >> sure, so let's -- not that it won't have an impact they kind of need it, right? they gave some massive forecast loe over a long period of time and so subsidies enable them do that now, in the near term, it sort ever defpending. they will spend the money

anyways. they probably need to take the revenues down. if the bill passes, it probably makes it harder for them to cut their capex in the near term which they may or may not need to do. near term it might be barry. but long term they will have to spend this money one way or the other. most of it is still going to come off their balance sheet, but anything that they get from the government will help deploy this stuff >> and they have like $45 billion in cash, 15% return on capital. why do they need so much government help? >> you have to remember that is backward looking forward looking their free cash flow is going to zero or even negative so they have the cash right now. to make the kind of investments that they need, it is sort of in some sense blowing up the model. now, it is not going to send them like under. they could afford to do it on their own. but those bad economics would be even worse and will last for longer without them. in terms of their forecasts, i think you mentioned it, they have already baked in some

subsidies. so they need these subsidies they think that they could get more worldwide than they baked in but to make the numbers in place, they need the subsidies without them, assuming that they stick to the same spending plan that they talked about, things would get quite a bit worse. but they have the money to do it in some sense if they believe that it is the right thing to do but certainly the economics going forward will be worse than they were going -- than they were in the rearview mirror. >> let's broaden it out a little bit. so we can all say, well, obviously if the government will give intel money, they are happy to take it and spend it. but is this going to really help their competitiveness and the u.s. semiconductor industry's competitiveness in the long run? >> yes and no. so you have to remember that my opinion, the purpose of this bill is not structural it is political. i get the question what does it mean for the semiconductors. yes, but elementally how much capacity gets built is going to be determined based on demand,

not because of politicians what this act is supposed do is get some of those projects actually started here in the u.s. because if they start here in the u.s., you are likely to expand them here in the u.s. if we don't pass this bill, all of this capacity eventually, if the demand is there, it will get built. it will just get built somewhere else, europe or taiwan or china or korea or anywhere else. the point of the bill is to get the projects started here. but semi gap guys will sell the equipment regardless for the semi conductor companie themselves, they will have it made wherever it will get made >> is it an important drive foerter for the stocks they have been down but we knew that they were getting lumbered. there was a short think a, there was overshoding, that seems to be kind of working its way out now. what is the impact of the stocks if i want to own nvidia, what about the rest of the space? >> i don't think that it has much of an impact on the

fundamentals of any of the stocks from a sentiment standpoint, fine any free money i guess is a good thing. broader concerns are still there. people are worried about overordering and stockpiling i think that there is plenty of evidence that that is happening. people are worried about the broader macro situation as well and covid and everything else, there are signs of consumer weakness and people starting to worry that it is bleeding into othe broader worries are there. and you could argue that these types of subsidies might influence supplies earlier >> bearish for the stocks would not be the expected -- >> probably good for sentiment >> exactly just maybe kind of coming at an

awkward time let's say >> you have to think past the first order on this. there were on knock-on effects that might or may not be positive >> and we have to see the final bill as it pertains to china and all the rest of it sta stacy, thanks. coming up, a turnaround or another false start for the cruise line? a vote of confidence from the cdc but what about passengers? that is ahead. plus the tale of two investor groups, growing divergence between institutional and retail money, we'll tell you what it is and what is driving it and here is the dow heat map all but two stocks are in the green. ♪ music ♪ ♪ dream, dream when you're feeling blue ♪ ♪ dream, dream ♪ accenture.

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welcome back we're just off session highs we're up around 560 at the moment and look being at this, dow up 1ment about 81 respect nasdaq up 2.5% on pace to close above its 50 day moving average for the first time since april and small caps are steering the action russell 2000 is up 3% crossing above its 50 day moving average. index up nearly 5% in july on pace for its first positive month in four and best month since february of 2021 elsewhere the movie theaters are moving higher. cinemark surging on a morgan stanley upgrade. and shares up 11% today. also fintech finding a spark,

all seeing gains of 3% to 5.5% but remember a lot of the names are down 75% to 93% from their recent highs let's get over to a cnbc news update >> good afternoon. the manhattan district attorney has moved to drop the controversial murder charge filed against bodega worker alba who killed a customer during an argument where the customer shoved him and went behind the ku counter. alba's supporters claim the killing was self-defense the d.a.'s office found that they could not prove that the defendant was not justified in his use of deadly physical force. the federal judge overseeing steve bannon contempt trial denied the request to delay the trial for one month. this is months after he was charged with two counts of contempt of congress for refusing to comply with the

january 6 committee's requests and youtube announcing that it is partnering with shopify to let viers purchase products without leaving its website. the company said it is planning to expand shopping features to its live shorts and long form video. tonight on the news, federal agencies are expecting an executive order declaring a climate emergency as soon as tomorrow we'll have the latest at 7:00 p.m. eastern still ahead, fuel costs, labor costs, subscriber growth, three key things to watch on these three stocks and that is not all investors are looking for. we'll get you ready in earnings exchange next. ♪ in any business, you ride the line between numbers and people. what's right for the business and what's best for everyone who depends on it.

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welcome back, everybody. we have a big week of earnings under way as investors hope that they can anchor a stock market rebound. let's get the story and trade on three names set to report this afternoon in today's earnings exchange and we have of course kicking it off with netflix shares off 68% this year as they struggled to keep up with the competition. over the last ten reports, stock

has traded lower nine times. can we break the trend julia bouorstin has the story and also president of jewel financial is joining us. julia, what is the most important thing to watch seeing a loss of $2 million expected >> yeah, so the number to watch for the second quarter is a loss of 2 million that is how many subscribers netflix said that it expected to lose in the second quarter analysts expect the majority of those to be here in the u.s. and canada the real number that i am most curious about is the third quarter guidance for subscribe h ers. the street is anticipating netflix will guide the addition of 1.8 million subs in q3. if netflix guides for more than that, i think that that would benefit the stock. if it guides for less than that, tha would be a major disappointment. and we're also looking for any other commentary whether about a crackdown on password sharing or the time line for launching an

ad-a ad- ad-supported that might give insight. >> and quinn, we've been hearing a lot of i don't want to say positive trader commentary, but there are warnings that there could be a short squeeze here. and i think it was one of gina sanchez's picks. a lot of people think that maybe finally low expectations can work to netflix's benefit. what do you expect tonight >> yeah, the only thing that bothers me about this setup here is the number of traders that i agree with that concerns me because it seems like everything is baked in here. and i think what you will hear is str"stranger things," tha phenomenon will be the potential catalyst to see smaller than anticipated subscriber decline and this stock is set up for a

significant oversold bounce should that transpire. what is the trade? i guess if you really wanted to be a spec rulatspeculator, you o in, buy ahead. it is not something that i prefer do at all but the stock is definitely set up for certainly an up side surprise it is still not cheap. 16 times forward, anticipated to grow those earnings 8% and obviously they have increased their debt paying for additional content but make no mistake, i think that we'll see an up side surprise and they will attribute it to the "stranger things." >> and when will they roll out the ad-asssupporter cheaped tier >> we don't know yet and we don't know how much it will cost.rd tier >> we don't know yet and we don't know how much it will cost. tier >> we don't know yet and we don't know how much it will cost there have been various price hikes and so the question is how much less expensive will this tier be because that may determine how many people shift over from the plain subscription

service with no ads. so a lot of questions still there. they just inked the big deal with microsoft and so the question is how fast that they can get the actual sale of the ads up and running and then of course the service itself. >> the stock is at 199 til tell me what numbers you are vibing for lack of a better word >> so here is the trade setup for me it is similar to pinterest i know that we didn't anticipate talking about that pen terr pinterest had a great quarter. stock took off now it is on our radar we'll be looking to add that number on any market weakness. netflix would be the same. we need to see a defined change in character in the fundamentals of this name and then we're not so concerned with the initial fireworks that could happen for a day or two. we'll buy retracements when the stock comes in because look, you don't have to get ahead of this. if you are wrong, you'll be in trouble. you will see another gap down.

but if you are right, i guess you gambled, you made a little money. better trade is to wait. wait for the surprise, wait for the fundamental change and then wait for a better setup. and that is on a pull back, that is when the stock would then pull back and offer you an opportunity to get in. >> very interesting. that is the strategy you have for netflix. julia, thank you we'll let you go for now meantime, we're also going to hear from jb hunt and shares of the transport company are off about 15% this year. and seeing a small boost this afternoon. and in a recent ncent note barks warned so we want to watch for how the shipping company is handling high fuel costs, retailers have talked about it as well. volumes have been a strong point. analysts have expecting volumes to keep accelerating in the second half of the year. so you are watching j pjb hunt closely. >> yeah, that is a great

indicator for the overall economy. quite candidly, this is not really a trade that i'm all that interested in. 17 times forward, they are only anticipated to grow by 5%. they have been beat up a little bit on anticipation that is just as you said the economy is going to be weaker but this is a name that we have on our radar to see what they are saying what are they saying about the if you will costs, how are they dealing with that, what are they saying about shipping and what are they seeing in freight and so forth that is what is important. if you want to get a good indication of where the economy is going, it is a name like this that you can really sink your teeth into what the company says but as far as a trade, it is just -- i'm not all that interested in it either way. so any fireworks around this name, it is not me >> it has been a tough space they really are dealing with the brunt ofso many different economic trends. so let's move on to cal main this might not pop up on most people's radar but it should because they are un-41%. they are a major egg producer.p%

they are a major egg producer.-% they are a major egg producer. . they are a major egg producer.4. they are a major egg producer. producer prices and labor costs hit all kinds of companies they are seeing it impact the business management suspended the dividend end of last year indicating profitability could be difficult so we want any guidance for its reinstatement. so what do you do with the stock? >> take it sunny side up, right? it is a great name this should be on traders' radars this is a company that has zero debt, they are expected to grow earnings 45% and they are trading at 16 times forward earnings they take relatively inexpensive stock and it is a staple that is basically growing at, you know, a growth company's rates now, could they be hit by inflationary prices? they have to feed a lot of those birds obviously. yes, they could. i would say that any short term inflationary pressure that hit

this is stock on a pullback, that is when we'd be a buyer i think this is a name that will continue for a very long time. again, it is under the radar in full disclosure, we don't own it yet i want to see this quarter, i want to miake sure that they wil continue with the growth numbers because fwhaechb fantastic and again, if they see any sort of inflationary pressure that has hit the company right now and you get a pullback, we're a booi buyer of that pullback but they also have price elasticity, they can pass the prices along to their customers. we'll continue to eat eggs and it has the staple sort of fundamental play but also got that growth driver which we like a lot. >> you are efuse receive efew receive. so when they suspend their dividend, isn't that one of the bigger red flags >> or they just saw more growth opportunity and they are investing back into their

business i wouldn't buy it as a dividend play again, i think that company that sees -- i would say that is great management if you see -- if you have no debt and you then suspend your dividend to reinvest into the business thinking that you are going to get a better return on equity for your shareholders, that is a wise management decision i get concerned if a company suspends dividends because they have too much debt that is a red flag for me. this great management decision >> fired up by calm. we'll be watching those results after the bell this was fun, thank you so much. appreciate it. up next, markets are rallying today, but it has still been a dismal year for stocks so far. current volatility, could it result in a more security financial future for some americans? we'll tell you why and how after this break if respect

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. welcome back we're at session highs, dow up 640 points for a 2% gain for the blue chips, $2.75 for the nasdaq and russell small caps up better than 3% building on a stretch that really goes back to friday's big gains dow at 31,714. coming into this, we had rising prices, volatile market, economic uncertainty, all shaking investor confidence. yet some americans who have been through sharp market downturns before have found a silver lining especially when it comes to their financial futures senior personal finance correspondent sharon epperson is here with more. >> a new survey from blackrock finds there is a notable decline in confidence among savers participating in a workplace retire thement plan and women rt a lack of confidence in having

that retirement savings. but not this woman, not anymore. connie gorse didn't knowwhen she would be able to retire. >> i thought i'd work until 70, so being able to retire at 65 was a big deal for me. >> reporter: now 68, the former college president recalls the conversation she had with a financial adviser during the great recession. she was in her mid-50s >> he looked me in the eye and he said, connie, i don't know if you are going to make it unless you change a few things. >> reporter: it was a wake-up call she started contributing the max to her workplace retirement plan and to a roth i.r.a. even through a dramatic downturn in the markets a key strategy many experts say. >> it is hard emotionally when you go online and you see your account value just drop and drop and drop but i encourage everybody to stay focused >> reporter: yet many americans know they are unprepared a recent survey finds only 29%

have a written financial plan with some experts saying a it can serve as a guide to help stress test your strategy. >> it can illustrate or simulate how your retirement g impacted by different appeareds. >> i'm not one to check things on a daily basis there are fluctuations, there will be high points and low points and now i'm trusting that these things will work out >> reporter: she has her savings, social security, and some extra income from consulting but now values most team with her grand children >> i just feel fulfilled and i still have a purpose and i can contribute to my profession and i also can be this nana that is in their lives. >> she realizes that she is fortunate to be living comfortably in retirement and she encourages others to start

earlier than she did focusing on their financial future >> so what about the people who say i didn't start early enough, i haven't saved enough orio i don't know if i can. >> having that plan is where you really get your roadmap. and then that can take you through some of the turbulent times and have a plan do it. what many people are saying now as well, we have been saving, we've been doing those automatic contributions, but how do we actually get through retirement with these prices rising, with inflation, with the market volatility and so they are looking for things that will guarantee an income stream for them whether it is annuities, whether a target date fund, they are trying to come up with a mix that will give them a guaranteed income stream. so trying to get trooe hrough retirement >> like those ads getting you to and through. >> that's right. >> sharon, thank you very much coming up, with the s&p

having its wor worst start to ar in two decades, there is pessimism but a big gap between different types of investors what it means for the second lfafr is but a big gap between different types of investors what it means for the second half, after this but a big gap n different types of investors what it means for the second half, after this wealth plancomprehene across your full financial picture. a plan with tax-smart investing strategies designed to help you keep more of what you earn. this is the planning effect.

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welcome back to ck expectations for global growth and profit at all time lows. it also shows cash levels at their highest since september of 2001 it doesn't end there j.p. morgan estimates institutional investors have taken quarter trillion dollars out of the stock market this year and some of the streets' big players are bearish, other data shows that retail investors are still buying at a slower pace joining me to discuss this is "wall street journal" reporter and cnbc contributor great to you have here welcome. >> thank you for having me, kelly. >> so let's start with the notable bearishness of institutional investors by historical standards even. >> that's right. people are feeling incredibly skiddish about the stock market

right now. asset managers have done the best on the stock futures to the highest level since 2016 as you mentioned, they've also pulled a lot of money out of the market >> do we know, i he mean, this is so hard maybe that was true as of last quarter or a couple weeks ago. we know how quickly the markets change suddenly, everyone is in a better mood. do we think that bearishness dimmed or not? >> it's tough to tell. funny. some investors are -- i was talking to, they were like are people so bearish that it's actually a time to be bullish? >> right capitulation >> right >> has possessism gotten so extreme that i should be optimistic now investors is saying maybe we should buy home builders but, of course, others are like look at the volatility in the oil market the bond market. things look really, really risky. >> you make a good point the volatility can be as problematic for some of the big managers as, you know, poor results. they just can't afford to have the wild swings:so are they

looking to, you know, what are they going to do sit in cash what are the options >> i think that's the problem this year. there the are such few options bonds are having the worst year in decades your bonds are not protecting you. so it goes back to many investors spoke with and maybe reta retail investors in particular, maybe i should put money in the market why i don't i take the risk? >> one of the fun themes, shall we say, during the depths of covid was the fact that it was main street buying the dip no one on wall street saw this v shape rebound coming it's been a couple years we know the nasdaq peaked in november there is widespread means about how much people have lost in the market how is the retail public with their feelings about -- or the exposure to the market these

days >> a lot of them are plowing money into the market. there was a monthry sum of u.s. stocks and etfs this year. and that pays, although it slowed a little bit, it is still above prepandemic levels a lot of investors have seen how stocks rebounded after the financial crisis during the covid crash. and they're saying i'm going to try to keep a steady hand here i'm going to try to ride out the volatility my bonds are not doing very well on the long term investor. maybe i should just try to hang on >> that's really interesting i'm sure again the sort of cynical reaction to that is okay, then that is a sign we are not at capitulation yet. attitudes are still optimistic we have seen the aai surveys and that sort of thing come down we also know a large part of their involvement was fueled by everything else being shut down. stimulus checks. what is keeping people involved in the market now do you think

>> i spoke to one financial vuzor this year. what are the clients telling you? are they scared? he said i haven't raerly heard from them. they're not panicking right now. he works with high net worth individuals. so he was saying a lot of people have seen their home prices appreciate they've seen the stock portfolios appreciate over the past two years they made a lot of money over the past two years so they're putting it back in the market. >> that's really interesting i'm sure he must be breathing a sigh of relief we all can or maybe this just means another shoe to drop thank you for your time today. still ahead, there can be smoother sailingfor cruise stocks thanks to an unexpected source will the cdc's latest announcement be enough to bring the industry back from the brink? that's next.

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welcome back before we go, let's check out the krugs cruise stocks.

carnival is back over $10 a share. good news from the cdc we have the details. >> kelly, it is good news the cdc is ending a covid program that tracked covid cases onboard each ship tailing in the u.s. waters health officials saying that industry is now access to tools to manage their own covid-19 mitigation programs that is seen as a big win for a industry that desperately needs it the cdc is finally leaving the cruise industry alone and not single willing them out. and that this announcement should remove some fearthat is out there among the consumer public for some cruise passengers not having the warnings it should make their decision to book much easier he has a buy rating on carnival. $9.65 price target the stock currently trading at a three week high. of the question, of course, is just how much of an effect this announcement will boost bookings and travel has certainly picked up, it helped airlines and hotels the latest channel checks

different wall street analysts show that demand for sailing hasn't grown at the same pace. and cruise stocks again up today but they've had a tough time. >> is inflation? why is the consumer a little reluctant to plunge back in? >> part is that public perception issue just given that the oversight of the cdc had on cruise industry for so long. i think part of it also has to do with travel inflation it takes a lot of effort to get on a night very expensive right now one thing the cruise did is bring the pricing down to attract new customers. of for example, a five night sailing to the caribbean, five nights in september cost you about $500 -- excuse me, $257 per person that compares to the $500 night rate you would have had to pay last year. so that's one thing they have been using to attract more people we'll see if it is working when the companies report earnings in early august. >> thank you for now

about it c bitcoin is coming off losses to day. the sender celsius filed for bankruptcy last week we have a special investigation into the company ahead on "power lunch" which begins right now. >> kelly, thank you very much. welcome power lunch. a the ho, hot, hot tuesday hot on the markets and hot probably where you are here's what's ahead. king dollar is the king of all problems this earnings season for many companies, the asent of the green back is eating into profits for multinationals and it goes into all markets and expectations low and some betting subscriber losses will be high. shares down the past three months for netflix a top analyst will tell us i