revenue per season, writing, quote on an absolute basis and the incremental ad revenue is likely to be small, but the strategic rationale of the incremental content investments to build, maintain the prime ecosystem is more powerful, but rosenblatt, more skeptical warning, quote, divorce from the pay tv ecosystem that drives hefty affiliate fees we're not sure how this pencils out better for amazon than for fox. fox had those games last year. amazon is reportedly telling advertisers to expect ratings to decline from last year's fox games and one source tells me that the league won't be surprised if initial viewership is half of what it was last year, though over time they don't expect streaming viewership to exceed linear tv ratings. as the season kicks off, the question is whether amazon will secure sunday ticket rights as it bids against apple, google's youtube and disney's espn.

>> we run down the clock on "the exchange," julia, thank you. "power lunch" starts right now ♪ ♪ jon, thank you welcome to "power lunch. i'm seema mody in for kelly evans. here's what's ahead. james bullard is here and he's known to speak his mind about the central bank's inflation fight. how big should the fed go in september? stay tuned to find out, and if you're looking to protect your portfolio against inflation our market pro is buying up some energy names we will tell you which ones later this hour. ty >> seema, thank you very much, and welcome, everybody materials, communication services and financials leading the market higher at this hour there you see the dow industrials up 114 the s&p 500 higher by about three-quarters of a percent and the nasdaq, if i move my hands out of the way you will see it was 1.09%. two cloud stocks moving in different directions and snowflake on 2% this afternoon

on strong quarterlies while salesforce, sliding a disappointing forecast for fiscalate 23 shares of peloton tumbling after the company reported its sixth straight quarterly loss. the stock surged 2% on a partnership with amazon. seema? >> the biggest event of the week for investors happening now, tyler. >> that's right. at at the jackson hole symposium, the fed chair jerome powell speaking there tomorrow morning and investors looking on the size of the coming rate hikes. our next guest is known for speaking his mind when it comes to how aggressive the fed should be in fighting inflation and fed president james bullard is with steve liesman in wyoming for a first on cnbc interview. hi, steve. >> hey, tyler, thank you very much our jackson hole coverage continues with st. louis fed president jim bullard. thanks for joining us. >> happy to be here. >> tyler gives you a curtain raise, a man who speaks his mind

and not afraid to talk about where things are going what's your take a couple of weeks ago you talked about a 4.4 peak funds rate. are you still in line with that idea >> i think i said 3.75 to 4. >> okay. >> -- is my target for this year, for the end of this year, and i like the front loading i like the idea that you get the rate increases in earlier rather than later we've got inflation right now. we've got a strong labor market right now. it seems like a good time to get to the right neighborhood for the funds rate we had a good debate in the noon hour of the idea of 50 and 75 and how much does it matter? what's the upside of that? i think the front loading idea is that first of all, you show you're serious about inflation fighting and you want to get up to the level that will put downward pressure on inflation and we're at 2.33 right now.

that's not high enough to be serious about putting downward pressure on inflation. the market has helped us a lot there's been a lot of pre-pricing during the spring and the summer here, but we have to get our policy right to where it needs to be to put pressure on inflation and i think you have to get a three handle >> what happens to 3.75 to 4 at the end of this year >> yeah. i haven't talked much about next year -- >> or three. >> this is such a volatile environment that you're not quite sure what's next, and so i'd want to be careful about promising anything one way or another about what would happen next year, but you know, a baseline would be that probably inflation would be more persistent than what many on wall street expect and that's going to be higher for longer and that's a risk that's underpriced in the markets today. >> do you worry about that when you look at the outlying futures contracts and say they're not

embracing the rate hikes that i think or the kind of financial conditions that i think need to be there >> they're showing outstanding confidence in the federal reserve which i appreciate, and i really hope that they're right. if we act early and aggressively that we will bring inflation under control relatively quickly and the risk is that the other side of that isn't being priced enough and the reality is we may have to be higher for longer >> talk to me about how you react, and i understand you try not to react yet in the day to day changes, but in general, when you see the stock market rising and you see bond yielding falling, does it make it seem like you have work to do >> i stay away from equity pricing because there are so many things going on in equity markets and a few stocks can drive the market on a given day and usually those are developments at those particular firms and you have the heavy

silicon valley component and who knows how to value those companies and i don't want to take too much signal from equities when i'm trying to make monetary a monetary policies and spread, volatility and levels of rates -- real rates. >> bond markets and yields are higher do they give you more comfort that you want the market to embrace financial conditions and where it is going? >> i would say it's a little better pricing of the risk that we'll have to do more at the fed to keep inflation under control. >> you talked earlier of this idea of inflation being more permanent. the constraints on the economy and the discussion that maybe some of the factors that have led to high inflation now may stick around is there a world or an economy coming to the u.s. of higher permanent inflation? >> i don't see any reason why we

have to have that. you need to understand the economy in order to make monetary policy and it is relevant for making monetary approx policy in the end it is up to the fed to hit the inflation target and, you know, you take all of those factors onboard and you print the right amount of mony ey for inflation and it's important to understand the factors and that doesn't stop us from hitting the 2% inflation target. does it matter to you if there is a recession in terms of the making of your approximately see? obviously, you would care if there was a recession, but does it matter in the making of the monetary policy if there is a recession or not >> of course, we have two sides to the band-aid and we have a labor market side and if that was disturbed that would enter into the conversation and i

don't think recessionses are that predict ipg and they don't do that great of a job, and the pandemic and the essential crisis, these individual and they're hard to predict events and there is recession risk out in the future, but i don't think we'll know if there will be a recession one way or the other. >> walk me through the base case, does the negative growth continue into the second half and what happens in 2023 how much is inflation? >> okay. so what i'm thinking right now if you look at the gdi number -- >> let me interject. gross domestic income how much we take in versus the value of what we put out. it should be equal, but it's not. >> gdp and gdi is supposed to be the same, but they're not and gdi, according to the estimate that just came out. >> this morning, is actually

positive for the second quarter. the growth rate was positive i think the gdi in this particular instance for 2022 is giving you the better metric on what was going on. it's a slower economy, but you had a heck of a lot of jobs added and now it looks like 3.2 million jobs >> they just added another half a million. so it's a lively job market and that's consistent with what everybody says when you talk to businesses it's hard to hire workers and hard to fill jobs. >> talk to me about the making of policy. chair powell acknowledged there were mistakes that were made is the fed addressing those and how are they addressing those? when you look back at the decisions that were made, to continue to buy assets when it seemed pretty clear there was an inflation problem. how do you fix that or do you need to fix it >> i think we did fix it, in a way, i mean the process by which you arrived at that when everyone agreed we should keep

buying assets. >> i think when the pandemic came along to defend what we did a little bit, the pandemic came on and of course, it was a jiegantic shock and we were all in to try to protect the economy from this really big shock and we set out a path that was overboard, you might say both with fiscal policy and monetary policy and that was by design. we didn't know how bad the pandemic would be and what it would do to the u.s. economy as it turns out, the economy is more resilient than we thought and some of that was overdone and we got inflation out of it i think that will be the way history moves with this and now we have to switch back and say, okay, we've got to get the fiscal situation has to settle down and the monetary authority has to bring inflation back to 2% i think we're doing both of those things are going in the right direction. >> last question, jim. the median forecast of the

federal reserve does not see inflation getting back to 2% over the horizon through 2024. does that mean you're tough enough and not going to do enough, and why are you going to miss your target for essentially two and a half more years. >> with the handle on cpi we'd be happy to get it going in the right direction. there will be a debate at some point of how long do you want to linger above 2% and what do you have to do to get it down and actually hit the target? that's an important debate, but that's out in the future >> it's getting it moving in the right direction and let's get it toward 2%. >> thank you very much for your time the fed president from jackson hole i believe we have rafaephael bostic a lot of there to digest for

longer and getting to the level and also trying to quantify the trajectory of the move in consumer prices. we saw the big move in july. does that signal that inflation has peaked as george said she wants to see three months of consecutive data >> i think in the end what you heard him say is what's more important than hitting a target is moving in the right direction and consistently doing that which is what esther george is looking for, too, is moving in the right direction and bringing the numbers down and coming towards that target and then we'll talk later about how we actually get to the target >> dow up about 30 points. s&p 500, as well coming up, reaction and analysis to st. louis fed president james bullard. plus a tech club in the heartland and make his state the center of transportation innovation later, ron baron is investing in fig and riot resorts

should you follow the lead we'll talk about it in the lunch. ch robinson, cf duriinstes and on semi. "power lunch" will be right back ♪ ♪ ♪ ♪

>> a baseline would be that probably inflation will be more persistent than what many on wall street expect and that's going to be higher for longer and i think that's a risk that's

underpriced in markets today. >> do you worry about that when you look at the outlying futures contracts and say -- >> all right that was st. louis fed president james bullard just moments ago, speaking with steve liesman. his comments coming one day before fed chair jerome powell is said to give his speech at jackson hole a speech that can have big implication from the markets let's get reaction from michelle gerard, for natwest markets. nice to see you again. good to see you back >> hi, tyler. >> you have just heard what mr. bullard said he always speaks his mind and he thinks that the equity markets, principally are underpricing the idea that inflation may stay higher for longer. do you agree >> well, equity markets and fixed income markets if you look at where the market is expecting the fed funds rate to be. it's pricing in rate cuts in

2023, expecting probably the economy is in recession and the fed will react to that, and i think that what we're hearing and certainly what we heard from james bullard is that this idea that inflation could well be more persistent and i think the fed is more fearful of rates having to stay higher for longer and maybe move higher from here. even when he talked about the inflation outlook and talking about the inflation rate not moving in the right direction, and by the fed's own acknowledgement not going back to 2% through 2024 none of these things set the stage for a quick pivot toward easing that the market is priced in, and i think that's something he's calling out here in those comments. >> yeah. and he is also one in that interview with steve just moments ago and he said that his expectation for the end of year level for fed funds is something like 3.75 to 4 that's a little higher than you have it. >> yeah.

we expect the fund rate to get to 4% by the first part of 2023. so our forecasts are not dissimilar i do think the question and he referenced it as something the fed will have to be thinking about going at some future date, but i do think it does -- it will become the dominant question in 2023 is 4%, even as high as that sounds, is that going to be enough will it be sufficient to bring inflation all of the way back down to 2% how long will the fed tolerate inflation being above 2% as he talked about, that isn't something the fed has to deal with today, and when i look ahead at 2023, that is going to be something the market will have to grapple with right now the market is pricing in cuts. that may be called into question and it could be worse if inflation is more persistent it may be that the markets start to fear that the fed will have to start to do even more in

terms of hiking rates higher than 4% in order to get inflation to where the fed is comfortable and where it should sit. >> they're fixated on the 2% target, michelle at the same time, we have to wonder how much weakness is the fed willing to endure. we have applications for unemployment benefits now steadying over 250,000 over the past week and we have an august jobs report coming up next friday >> and i think that's the question i think the markets and to some extent say, sure, the fed can say all they want, but if the economy can say worse and employment situation deteriorates and we're in recession. will they blink? will the fed have the appetite to focus on inflation at the expense of driving the economy into a recession or a deeper recession? and that's the clues that we're trying to get to when we listen to these fed speakers in terms of the reaction function going forward. so far they've been pretty clear that the focus is going to be on

inflation and even at the risk of doing some detriment to the economy. the fed is going to be a risk that they are willing to take because they are absolutely committed to getting inflation back to target, but again, this is what will be tested it's easy to say that, and i know we've had some weaker numbers, but when you are general are looking at a healthy job situation, but i suspect the fed is going to be tested on that and that will be the defining moment in terms of the direction for fed policy beyond sort of what the market is priced in now. >> quick thought, if i might we spend a lot of time focused on interest rates, but the other part of the tightening has to do with the balance sheet and that is moving along at a brisk pace. how much does that help the fed in reaching its goal of cutting into inflation >> well, it can help, certainly, and to the extent that contributes to a tightening and financial conditions that also

will help the fed to get to achieve its goal of basically removing the combination more quickly. it's moving quickly, but we haven't gotten to the point yet about the fed actually thinking about selling any of its assets and that's something we keep waiting for. we thought there would be hints of that, particularly with mortgage-backed securities and the fomc minutes and we're not seeing that come to the fore and that's something we're watchful of >> michelle, good to see you again. >> we obsess over interest rates. we don't talk enough about quantitative easing and the shrinkage of the balance sheet. >> a big part of it. >> see if powell addresses it at 10:00 a.m. >> we have two analysts pick their sides in the battle of the dollar stores, dollar tree versus dollar general and prove that not all stores are created equal. that's next. as we go to break, check out the crude stocks and royal caribbean

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welcome back to "power lunch," everybody. i want to get you updated on yesterday's bullfight, as we describe it. analysts debating which dollar

store stock gives you the best bang for your stock and the results are in, both dollar general and dollar tree reported earnings this morning. general, dollar general, that is, beat on earnings and raised sales guidance increased sales of groceries as consumers trade down for bargains. that stock, however, down 1% today, but dollar tree is down even more. 10% even though it beat on earnings, it missed on sales and lowered its earnings forecast. the key difference here is it, so the saying is is less exposed to groceries than dollar general, and go to dollar general to trade things cheaper and grocery prices are going up and the overall revenues >> it tells you that even in this environment where tyler, consumers are trading down they're being selective in where things are going and they'll say why don't we just go there to get everything we need and it's making two stops it's also a sign of the market

here if you don't deliver what the market wants to hear in the case of dollar tree down 10% today. they sell now and ask questions later. that's the way it goes >> that's why inventory is key >> all righty, folks let's get to bertha coombs now for a cnbc news update bertha >> hi, tyler thanks very much the zaporizhzhia nuclear plant has completely disconnected from ukraine's power grid for the first time in its history. today, according to the nuclear operator, ukraine has warned that russia was planning to disconnect the plant in a potentially risky effort to divert it to the russian grid, fighting around that plant has sparked fears of a nuclear catastrophe with the two sides trading blame for the attacks. president biden is expected to hold a kickoff rally today to boost democrats' fortunes, 75 days out from the midday elections and the event in the democratic washington suburb of

rockville, maryland, comes as democrats have seen their political hopes rebound as voters remain negative over the supreme court's decision on roe v. wade. and police, for a second time in two days rushed to the georgia home of republican marjorie taylor greene for another false shooting report. a person who called himself wayne greene reached out to a suicide crisis center to report gun fire police are calling it a swatting incident that's very concerning when people do that >> seema, to say the least. >> bertha, thank you >> ahead on "power lunch," we'll talk to the governor of oklahoma about his plan to make his state a tech hub in the heartland and china planning more stimulus to boost its sluggish economy and you can see the impact that's having on chinese-listed stocks and j.d. up among the big leaders with the s&p 500 today and up next, we'll get an update on stocks, bonds and oil stay with us

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continue to get the tools they need to build a future of unlimited possibilities. 90 minutes left in the trading day and we want to get you up to speed on the markets in our power rundown stocks, bonds, commodities and

protect your portfolio from inflation. yields are down, the vix is down, the dollar is down stocks are up. the market is certainly not acting like jay powell is about to enters some new level of hawkishness. in fact, we're up for the month overall. the s&p 500 has just moved into positive territory for the month. the nasdaq is doing a little better and that's up about 1% and it's a miracle we're holding up so well given the uncertainty and they likegrowth. that's the key here and semiconductors are rocky in the last week and nvidia had poor guidance 168 and nvidia opened and look at this 176 holding up very well here and they're ignoring the decline in game and they're focusing on the sequential growth in the data center business and micron holding up and advanced micro sales force had poor numbers, alphabet, apple, microsoft all holding up pretty well, and the

other key component here is the defensive sector so big pharma has been weak recently we've seen merck and some of the big names like bristol-myers in the downside and even some of the consumer staples names like kroger and kimberly-clark. we see growth up and defensive stocks are down and the market isn't acting like there will be imminent bad news coming from jay powell >> seema, back to you. >> nice positioning. bob, thank you now to the bond market where the ten-year yield is hitting session lows after james bullard's comments on the show rick santelli tracking the action rick >> yes there are so many dynamics going on, seema? look at the intraday of seven year and it was the last of our auctions and boy, it was the best of breed. as you look at that, you can see at 1:00 how yields dropped yields dropped because of the buying every investor saw when the results of the auction came out. it sounds sort of -- well, incongruent with all of the information we've had over the

last four days, but it is what it is and look at one week of tens and the buildup to jackson hole symposium making investors nervous and it all seemed to ease back a bit today and it didn't stop in the u.s. and the boons and europe and yields moved down why is that important? because they had been closing up seven sessions in a row. bunds and gilds and down five in bunds and ten basis points in gilds in the uk and finally, the dollar index he's exactly right it's eased back just a bit i don't want to make a big deal about this, but do remember the big hedge funds are super short with respect to interest rates and also with respect to the dollar there long. so you want to be very careful here on these reversals. seema, back to you >> rick, thank you >> oil closing for the day following a rather volatile

session. pippa stephens at the cnbc commodity desk with what's happening today. >> seema, oil is giving back some of the strong gains we've seen this week the market is waiting for additional clarity from fed chair powell and looking ahead to the upcoming opec meeting on september 5th. the wti is down 2.5% at 92.54 and brent crude around 99.37 i did want to point out shares of occidental in the red and the stock hit the highest since 2018 as berkshire hathaway scoops up shares wti has fallen quite a bit since breaking up about 130 in march and the energy companies are still making money globally, oil and gas producers are on track to report a record $1.4 trillion this year in free cash flows and that's according to a report released today by deloitte >> pippa, thank you. earlier this hour we heard from james bullard saying that

investors are mispricing inflation and he expects that higher for longer. he also admitted that the fed is taking recession risks and no one can predict if that can happen, and his comments come ahead of the fed speech tomorrow and let's bring in castellini and jerry, you've been looking at ways that investors can protect their portfolio from inflation. tell us why? >> well, the fed has the same problem you and i do and basically the economies of the world. we just can't predict today how long it will take high rates to slow inflation we can't predict how long the chinese economy will stay under lockdown, and we can't predict how long the war will last in russia all we can do as investors is try to assign enough high probability outcomes to the different investments we have, and the one way we feel is really obvious is to just have a nice set aside for

inflation-sensitive stocks and specifically energy stocks the names that will have the greatest upside in the event of some continuation of inflation, but also give you some downside protection in the event that, you know, there's a market that really craves yield and warren buffett buying stock so it's this nice in between that you don't have to have this debate you can own a part of the market that kind of buttresses one side of your portfolio and gives you upside on the other. >> is there an argument, jerry to take out the specific security risk of owning a single security or a couple of securities whether it's exxon or eqt or devon or whichever, i should say and buying instead an eft -- or an etf, excuse me, an etf or a fund that is an energy fund and just buy a basket of the stocks >> i wouldn't argue with that

for a second in the big xle, for example, it's dominated by exxon and chevron. those are two great names. if you want to get a little more growth, but a little more risk, the xlp offers that for you, but you made a great point and the important thing is you need to have a collection of names or at least some bulk work in the portfolio that has these unique characteristics. >> playing the consumer has become increasingly difficult, jerry, to say the least as we hear from walmart, macy's and other consumer-facing names, but you still have some picks. ulta and nike. why do you think these two names are ways investors should protect their portfolio from rising prices? >> well, in both cases, one is a retailer and the other is a manufacturer both of them have something very, very powerful. ulta is by far the one-stop shop and no one's challenged that

its sales have continued to thrive here and we think that's going to continue and nike is this global brand. we're sitting on top of probably most -- the greatest brand recognition in the history of the company right now and we think that just squashes the core competitors in both cases and that gives you what you've seen out of the companies which is the strength of the underlying franchise >> kids, two observations here and one with respect to nike, if you're a nike kid, you stick with nike and you don't want -- that's called good drip. you do not want the competitor you're about the fourth person this week who has mentioned ulta maybe i need to go in one of these stores >> it's reporting earnings tonight. >> i'll go with you. >> because everyone talks about them as being one of the great plays right now as you do. what makes them different and better >> it's just a branding and the product offerings they have.

none of these types of businesses are dominant forever but if you go through the dick's sporting goods and the ult as and the companies that nail them in terms of the brand interest, they're in that spot right now and it could be five years before they give that back >> jerry, you and i have known each other for a long time and we're both grayer, and maybe they've got something for us there. >> we should both worry, shouldn't we >> thanks, my friend >> a little makeup a little oil. >> the dome of the people has to get worked on here every day by the trouel >> you guys are perfect just the way you are. >> oh, aren't you nice >> good to see you coming up, we'll talk to the governor of oklahoma his state has one of the lowest unemployment rates in the country. good for workers and not so good for companies looking to fill jobs we'll talk about his state making it a tech hub

we'll be right back.

which is you haven't heard very much about, but you will

soon it's the lululemon health care and we've invested there. i've invested across the board in travel. i love travel. it's been deferred for three years and nobody's traveled and now that business has really taken off and we're investing in hyatt and we're investing in vail and redrock that was billionaire investor "barron's" buy list and the focus of today's three-stock lunch. it is up 10% today after being up 60% this year and hyatt is up 17% in the last month. and red rock resort the stock down about 24% in 2022, but up 13% just in the last month let's bring in steve grasso. grasso global ceo to trade these names and let's start with fig >> hey, seema. thanks for having me i am constructive on the name. the only issue i have is on a technical basis. the stock has been following a

declining trend line and usually when it tests its hundred-day moving average and it fails, so i'm looking out on chart now and it did fail, it did just that and it tested the 100-day which is currently at 1188 and ron's comments this morning goosed that stock and now we have momentum and investors are trying to see some value in that, and i do see some value in it i believe he also mentioned some new product lines. so on a chart you see a bottoming pattern in june and with those new product lines, i think you have the chance to have a substantive bottom in the stock that's been hit pretty hard so i'm looking for higher prices in this one. >> there you go, up 13% today and down about 60% year to date. you look so healthy, steve i can't tell you a little sunscreen, you're there. no more bronzing that's good.

you're looking good. let's go to hyatt, shall we? what do you think? >> hyatt's another one i'm positive on, too people, tyler, and i'm sure you can attest to this, they want to get out of their homes after the pandemic and they want to get out and have exper experienceal vacations and it's about all of the moving averages are going up quarterly rev i believe is up 120 or 123% and then a term in the business, rev par. that is up 140%. revenue per available room there is some resistance around $97 in the name, but if you look at the fundamentals in the stock, they've been really firing on all cylinders, and i would think this would continue the momentum higher, although recently it has climbed up pretty decently. so look at that resistance level

at around $97, but i am looking for higher prices in this one, as well. >> to your point it has outperformed other hotel operators. >> final name, steve the casino operator. >> first of all, this one gets the best name in the group and it's fun to even say, right? it's got a great symbol and unfortunately, this one is in the declining trend and it doesn't look like it's breaking outside of it just yet it would have to pop above 43 to break that declining trend line, seema and the 200-day moving average is at 2385, if it could take out both of those levels and hold it for a couple of days/weeks that would make me change my mind on the stock. right now i'm a little bit more so negative on this one and net income has dropped by 77%. net revenue not growing and

prp profitability on the technical side, this one is not matching up for me, but you know what two out of three ain't bad >> not bad at all. steve, we appreciate you joining us today >> we will see you soon. steve grasso coming up on "power lunch. we will speak to the governor ofec oak on the push to attract workers as it looks to bomece the epicenter for the future of transportation "power lunch" will be back in two. if you have this... and you get this... you could end up with this... unexpected out-of-pocket costs. so if you're on medicare, or soon to be, consider this. an aarp medicare supplement insurance plan

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welcome back to "power lunch," everybody. the state of oklahoma has one of the lowest unemployment rates in the nation enviable, you have to say, sitting at 3%. with so few people unemployed, it is hard for companies to fina chamber of commerce they had 36,000 more job openings than applicants and more than half needed a bachelor degree now they are teaming up with arkansas to create a technology hub. governor stitt, welcome. you're an entrepreneur yourself,

you built a business you know that, w workers are the life blood of the business you have a very low unemployment rate but you have a lot of jobs that are going begging in part because you don't have the high skilled labor pool that some of those jobs require how are you going to fix it? >> well, i think, you know, workforce like you said, it's what every single business is concerned about. we've got really great quality of life here, great work ethic lining the jobs of the future with our universities is something we talk about all the time, but also our career techs. we're number one in the country in bringing an aviation curriculum into the high schools. so looking at those a & p mechanics, hvac, also the technical degrees that we have at our universities. so bringing them together with the workforce and the companies and actually filling that is what we're always focused on. >> how does it work when you partner with your colleague,

governor hutchinson, across the way in arkansas? how is that going to work? and is this initiative focused on your great universities, the university of oklahoma, oklahoma state, where you went, arkansas which of course has a developing area there in northwest arkansas. >> governor hutchinson and i signed an mou with governor john bel edwards in louisiana as well on a hydrogen hub. then we signed an mou for advanced mobility. oklahoma is number one in the country in drone readiness u arkansas is two or three so together we're developing a corridor between our two states where we're inviting all the tech companies to study what this drone looks like, what unmanned vehicles look like, our universities are focused on that the only place that you can get a ph.d. right now at oklahoma

state university in unmanned aircraft so we're letting everybody know this is the future and we want them located here in oklahoma and arkansas >> governor, i recently went to wisconsin to report on the shortage of housing and how that's affecting manufacturing towns like sheboygan for al allowing more residents in i'm curious if you're seeing something similar in your state of oklahoma. i did prior to becoming governor you did run a mortgage services provider. >> the barriers to entry in oklahoma, the regulation, is so much lower than other states we've got great home builders that will meet the needs of our citizens we're going to remove any issues or problems and let them go create that -- build those homes, those apartments, to make sure we meet that workforce. we have the lowest unemployment right now in our state history we don't think housing is going to be an impedestiment for our

workers. >> this will recrate a loft s.t.e.m. credentials they rank 41st isn't the country. s.t.e.m.-related degrees, oklahoma ranks 50th. that's quite a hurdle you've got to surmount so that the companies that come can find the workers they need. >> yeah, you know, boeing has a 3500 engineering folks in oklahoma city around tinker. it's the largest repair facility in the country yes, they're hiring engineers. we need to produce more engineers in our universities. i meet with university presidents, ou, osu, tu, to continue to talk about a bigger vision let's set a bigger goal to recruit kids from out of state to train more engineers, there's

no doubt about it. we need that across the board. but also, you know, we're recruiting those from out of state. people are wanting to move to our state. we're number 11 in the country in migration they love our pro business, pro freedom policies that's why our unemployment is so low is because companies are coming here and we know that the jobs are -- the folks will follow them. >> let me ask you a question that i know you've probably been asked before and that is with respect to abortion. you've been a staunch anti-abortion rights person for your entire career does that issue come up in your conversations with companies that you're looking to attract to the state, with workers who might be considering working to the state, and how do you answer it >> first off, not at all i believe when you're clear with your culture, it's very attractive and sticky to a lot, a lot of people. people are moving to oklahoma because of our policies. and again, it's not for

everybody. but on the abortion issue, every state is going to do things differently. and we recognize that. we're clear with our values and who we are but this is a conversation that now you can have at the state level and we recognize that every state does things differently. oklahoma is a very pro-life state. >> so did i hear you say it does not come up in those conversations? >> that's exactly right. i mean i have people all the time moving from california and i tell them, i joke with them, hey, i had to wait 18 years to vote in oklahoma so you're going to have to wait 18 years as well and they kinda laugh they say, listen, there's 12 million of us that voted for president trump from california. we have moving to states like yours because we believe in lower taxes. we don't believe in mandates and we believe in freedoms we appreciated the fact that you kept your schools open, that you kept your businesses safe and open and we're not going to shy away from our culture and who we are

as oklahomans. >> we appreciate your time and your candor. governor kevin stitt. well, car loans are getting bigger than ever and so are prize pools at tournaments we'll put those stories under the microscope, next we listen. like jack. he wanted a streamlined version he could access anywhere, no download necessary. and kim. she wanted to execute a pre-set trade strategy in seconds. so we gave 'em thinkorswim® web. because platforms this innovative aren't just made for traders -they're made by them. thinkorswim® by td ameritrade ♪ ♪ ♪ ♪ ♪ ♪

let's check on the market right now. stocks are steady ahead of chairman powell's speech tomorrow you see the industrials up a third of a percent

the s&p is up three-quarters of a percent and nasdaq hovering right where it began the hour up about 1%. >> higher for longer, that was the take away from james bullard. >> inflation, that is, and presumably interest rates. >> and the market could be underpricing it. stocks are up and technology the best performing sector. >> thanks for watching "power lunch," everybody. >> "closing bell" begins right now. stocks moving higher as wall street awaits fed powell's speech in jackson hole the most important hour of the trading day starts now i'm carl kwinquintanilla in forr eisen. oil is below 93, vix below 23. sa salesforce weighing heavily on the dow after kcutting their guide. snowflake heating up on an earnings beat.