the advice of a strategist who is finding opportunity in the turbulence and has under the radar plays for the long term. plus r chip stocks struggling to come back from last week's beating and the broader market and what's to come, but first to tyler with a check of the markets. >> contessa, elcome, and welcome, everybody it was a big one the dow down about 300 at the low, up 40 at the high so it's that kind of yo-yo day it is off a tiny amount as you see right there and nasdaq is off about 46 apple, microsoft, amazon also attempting a bit of of a midday comeback and apple had been up earlier in the session and a bright spot today one of my favorite words to pronounce pinduoduo which say theed a recovery in consumer confidence and that stock up 17% as you see

right there. as stocks cut their losses today, investors are trying to answer a key question. sell into the dip that seems to be persisting or use the dip as an opportunity to buy low and stay fully invested. joining us with a few names that he thinks are worth owning now is dave smith. dave has one of the few names that i can actually pronounce. >> it's easier than pinduoduo. >> not quite as fun, but good to see you, dave. >> thank you >> you're a believer if one of your stocks is warren buffett's berkshire hathaway, i'd have to believe that you're a subscriber of the buy, and go for the long run school of thought. >> absolutely, tyler we're big believers that time in the market is way more important than timing the market in fact, timing the market is a fool's game. at the end of the day we're confident that two or three years out from now this will look like a great time to have

bought and just stick to the with the strategy of staying fully invested all of the time. >> remember, as hard as this year has been or seemed, the levels in the indexes are probably back to where you were in say, 2019 and 2020. i don't know the exact number, but remember that you're probably if you're a long term investor still ahead of where you were we have a couple of other names and we'll get to berkshire in just a little bit and a couple of other names that we don't typically hear about on cnbc and the first one is viva. and it's not the paper towel what do they do and why do you like them? >> viva is an interesting company and a technology play. it operates the cim solution and it sits on top of the salesforce platform and it's focused on the industry and they've built out the crm tool specifically for the healthcare industry, and they've garnered a substantial amount of share there. the stock is like a lot of high p-e stocks that's come down a fair amount and looks very

attractive and maybe not in an absolute sense about 44 times and it looks quite inexpensive at the moment and we like that one a lot. we think there's opportunity for them to expand in the health care vertical and there's lots of potential for continued growth there. >> dave, it's contessa where are the downside risks to investment in viva. >> i think like with anything in the tech space today, if the ten-year treasury security continues to increase in yield, there's going to be pressure price to earnings multiples and i think that's probably something that we'll see ultimately, time will tell and the fed obviously spooked folks on friday, but the longer dated treasury securities have been volatile and i think they pinned a little bit on the 3% range, so that would be one of the key risks. fundamentally, they are firing on all cylinders at the moment and it's about valuation and where does that settle out >> let's turn to berkshire

hathaway, and i admire warren buffett in many, many ways in he's a long term investor at the age of 88. if you're that optimistic, you're a good guy. a lot of them you would have to put in the cyclical category, transportation, power, manufacturing, housing, how might a slowdown in the economy affect this company and this stock? >> i would argue, tyler that the stock is challenging an economic environment already and we think the stock has some of the value for the companies and the height as much as $400 a share and it's 30% upside if it just got to the value of the underlying businesses and obviously as you pointed out, warren has been an investor for a long time and they'll grow over time and the sum of the parts valuation will continue to grow over time so not only do you have the opportunity to close the

valuation gap, but we think that ultimately businesses will grow in value over time and that makes us excited about berkshire hathaway at this time. >> you also like an investment and a company that operates in the industrial complex, lindh, i'm curious how you see this fitting in in spite of the risks that we're seeing with europe, with china, with russia and the uncertainty picture there as well as rampant inflation, dave? lind is a consistent grower and it has a strong ability to pass through its cost increase in the raw materials side for the end customer fortunately for them for many of their customers and the amount they're spending on lind product is relatively small in the context of the overall business from many other clients. so they have the uncanny ability to pass through price increases which ultimately in this kind of environment is very important and particularly given the fact

that the input is natural gas and other chemicals and that's the critical element of it, and the industry is very consolidated at this point and the acquisition a few years back is one of the top providers of industrial gasses across the plant. y is theyso they have all kinds end markets and they have a pretty substantial domestic play, as well and again, because they have the ability to pass through costs and historically, at least and we're confident in the future that they'll be able to continue to chug away in nice, low, double-digit earnings growth and that's the company that they like to see and own and it drives value over time. >> thanks very much. good to see you again. >> dave's with rockland trust. >> semiconductors a big drag today extending the week-long slide and the vanex semiconductor down 3%. nvidia, the biggest drag down roughly 7% by the time frame and avi down more than 5% and our

next guest has been calling for an inventory glut in the sector. let's bring in stacy rascon, managing director. we've seen two years of very strong gains in this particular sector what warning signs are you seeing where are investors getting spooked? >> yeah, sure. investors are worried about resessions fears and everything else semis do tend to be correlated to gdp growth. beyond that, given the strength that we've had in the last couple of years there is real concern about sustainablity and the people are worried about order patterns in the wake of really long lead times and tight supply and those customers tend to order more than what they need and you think about stockpiling and that kind of thing. we've been nervous about that in a number of areas. pcs, not only worried about pc demand and the stuff like intel were overshipping and buying

massive amounts as pcs were strong i've been worried about similar dynamics and we are starting to see some areas of weakness, primarily in the consumer space. tvs are weak, and gpu's graphic cards are week and consumer inflation and everything is impacted so we're seeing those issues there most of the end markets still seem to be holding up, although the same signs around sustainability are still building so lots of investors are worried that those are the next shoes to drop it will be interesting as we go through the back half of the year as recession fears crystallize, we'll see what's goinging on with inflation and everything else. investors are in that kind of awe mindset right now and that's yet stocks are. >> are there good buys i see that you're recommending

that investors stay far, far away and who do you like amid this question? i don't know, was it fear of missing out when you do double ordering just in case you didn't get the delivery that you were expecting? >> well, it's not fear of missing out. you've got to remember the consequences as a customer of holding too much inventory is not that bad, but if you can't ship a $50,000 automobile that's a huge problem so in many cases customers can be incentivized to order more if it takes them longer to get the parts and you have to remember the semiconductor companies themselves have no idea and their visibility is zero i'm not blaming them it just is all this year the order patterns are in front of their face you ask what might be interesting to look at in this environment, for clients who are more worried about the cyclical issues, we like broadcom they don't have a ton of consumer exposure outside of apple and apple is doing fine.

it's mostly the data center and that kind of stuff and they've been deliberately undershipping and the ceo knows what happens in cycles so they've been undershipping and they have a software business which is more stable and higher margin and offers support higher margins and it's cheap relative to the rest of the sector and that's one that that's good. there are a couple of others that i would say are more secularly driven that maybe have exposure to the end markets and i think are fighting through it really, really well and maybe even punished more than they should have in this environment and we like advanced microdevices, amd or qualcomm who have other secular aspects of the story whether it's share games or product road maps or anything like that that are helping to offset quite nicely. >> you mentioned that companies don't have visibility and i can't think of anyone who has less than taiwan semiconductor not only do they not know about the markets. they don't know about the state

of the financial and political u independence talk to me about taiwan. >> i'm not going to talk about the stock and i'll let him tell that story, but taiwan in general, that's sort of at the heart of everything that's going on the chips act and everything else the chips act is not going to massively increase the amount of capacity that is installed and demand will determine that, not politicians. what the chips act is trying to do is to get some of the projects started here rather than other places like taiwan because the world is very dependent on taiwan. most of the world's leading semiconductors come from there and it's 100 miles offshore from china and they think the ground that they're sitting on and so, yeah, that is a big concern. it is not something that is easily fixable and it's not something you will fix with $52 billion over five years which is what the chip sector is. it's probably a trillion dollars in 20 years to duplicate what

was there if that is even possible, but you've got to start somewhere, so the best time to do this is 20 years ago and the second best time is probably now >> you bring up interesting points of how the companies are walking a tightrope here if they accept the money from the chips act, they can't sell their technology into china, and that may be a competitive headwind for some of them which is where taiwan semiconductor may come down in the middle stacy, great to have you with us indep this is a very interesting conversation. >> my pleasure, any time. >> next, we'll kick off a series called power lunch cookbook with a look at the restaurant business and we start with the suppliers that gauge the impact of inflation and supply bottlenecks to see which are buys and which are not plus do the charts say the market is at a bottom and we'll talk to the hall of fame analyst jeff degraaf and beforethe

break, a look at bed, bath & beyond beyond the stock is up ahead of a strategic business update later this week. up 30% today and expected it talk about cash, bun, financing and laundry skbaets. more "power lunch" straight ahead.

welcome back, everyone high inflation and recession

fears have consumers cutting spending wherever they can and one of the first places is dining out that's part of our new power lunch cookbook series. we'll take a look at overlooked stocks in the restaurant ecosystem from beverages to food delivery and more, and today we talk suppliers names like chef's warehouse, sysco and tyson. our next guest has best positioned names as we head into this economic unknown. we welcome in nicole miller reagan, she's managing director of equity research at piper sandler. nicole, welcome. how would you kaucharacterize te restaurant business? it's not one entity and it's a bunch of different segment ins and how would you characterize it right now or segment it >> i would say this, that it's working really, really hard against the max cro and the mac will work harder to change the social engagement that customers

are getting at restaurants right now. it's not to say it's easy. consumers are managing check they're managing how often they spend. yes, there 's a followout at th low end and a bigger picture at play and a non-discretionary staple like positioning that this space has as a part of the economy today. >> i just want to mention what i've seen. i'm just back from a two-week road trip across the heart of america, and i saw restaurants that were so full and had hour and a half-long waits, and i mean at every level of demographic in terms of spending you know, fast casual as well as pretty high-end restaurants. i've seen it in las vegas. you have long waiting lists and people willing to splurge on this one thing so if you're a supplier to these restaurants, how can you capitalize on what is still pent-up demand and maybe not for

everyday dining out, but for the special occasion dining out. >> i love that you did that and we're doing the exact same thing across the country and that's what's so interesting is seeing those same trends. for the food service supply distribution space, right? very connected, they can capitalize a couple of different ways they can capitalize on the pieces of the business that are the best margin to them. that means going into the local independent restaurant and they're not suffering as much as those would think. they can sell some of the private label product. that's a very good margin opportunity and frankly, it's just getting the items there on time, getting the spec there when they need it and that's something they all have capabilities to do in terms of the balance sheet operationally. >> let's talk about a couple of the stocks and companies you follow, and i think like why don't we begin with sysco which i guess is the very

oligopolistic business, isn't it, nicole and they have primacy. >> it makes me think about mcdonald's and restaurants and there's defense and offense. the defensive nature is simply they're big, they're at scale and global and dominate in terms of market share and the offense is the balance sheet they're still making investments in people. they're making investments in technology that their peers just can't do because they're smaller and they get caught up in the current environment more so than a sysco does. >> what about us food holding corp here. one of the other food delivery services that you like >> yeah. sure in the current environment performance and us foods, and they're trying to sort out the shake-up with management and the

way we've isolated with the work is to look at the gross margin opportunity and it's interesting to just pause and say sysco is so big do they have a scale advantage just because the dollars are 2x the other players or can somebody like a us foods close the gap, and we think they can close the gap and not just as a function of getting market share and really how they get those dollars and the best flow through possible and there's discounting that goes on and there's a different channel mix that goes on they have a different operating system and if they can kind of clean some of that up, there is eventually a margin opportunity for them, as well. >> a quick thought on performance before you have to leave it, nicole >> performance is great. in fact, fed fund, they're not recession proof and recession resilient with the core mark acquisition that puts it squarely in the convenience store channel and it makes it almost as big as a sysco from a

revenue perspective, but the customer if they'll follow restaurants, the first stop isn't home, it's in between to the convenience store attached to the gas station and that's not where they're squarely planted. >> interesting thank you very much, nicole. appreciate it. >> nice to be with you >> nicole miller reagan. >> by the way, you poured out oligopolistic as though you've been saving it with pinduoduo. >> if that's your word of the day you figure out how to use it >> we also wanted to check back in on restauranteurs we've heard from on cnbc over the past two and a half years and here is what rambalum told us about the impact of inflation on her restaurant >> it's hard to find employees right now. my chef and i used to change the menu every month and now it seems like it's every week or

even more depending on what we find and depending on the prices because we need to adjust with everybody's pocket >> rendon did tell us she laid off every employee except the chef during the pandemic, but she's been able to hire them all back, so she hasn't had to look for workers in this difficult labor market it's interesting because i stay at a westin in cleveland which is a primary location next to the rock 'n' roll hall of fame you go into breakfast the next morning they were literally turning away dozens of customers because they didn't have the kitchen staff to get the supplies out, and they didn't have the hostess to take names they were pulling staff members from other parts of the hotel in order to deal with it. what i saw was that the hiring crunch remains in many places across the nation. so if she was able to come back and get her employees back on, good for her it's not the case for everybody. >> i was with a chef this weekend in association with a charity that i work for, and

among the things he said is that getting workers is so difficult that many, many restaurants are -- and it's not just that people aren't there, but they don't want top do these hard jobs these are hard jobs, long jobs, on your feet jobs for long periods of time and that the restaurants, many of them have had to cut back hours. so if the restaurant used to be open until 11:00, maybe it shuts its kitchen at 9:00. if the restaurant was open seven days a week, maybe it's closed or if it was doing lunches that's not now that's it ripples through the restaurant business and cuts their revenues >> i can see that. further ahead on the show, lost in space there's currently more than 50 million square feet of office space in manhattan there and they're trying to get workers back in the office and that may not get filled any time soon we'll discuss that. >> happy hour. we'll run you through three

names that wall street analysts like the most in today's three stock lunch. "power lunch" will be right back at fidelity, your dedicated advisor will help you create a comprehensive wealth plan for your full financial picture. with the right balance of risk and reward. so you can enjoy more of...this. this is the planning effect.

>> welcome back to "power lunch. i'm dominic chu. we want to get you up to speed and check on cable & wireless companies that did hit new lows today. we will start with verizon which has now turned higher in the session just in the last couple of hours nofrping its lowest level earlier today since 2017 that stock continues to underperform rivals like at&t and t-mobile, as well. on a year to date basis, t-mobile is up 25% and at&t is down roughly 4%. however, verizon is just off around 15% so far this year. we have shares of cnbc parent company com past wcast that aren at lower levels at 20% and that's slightly better than the rival center up by 30% this year watch cable & wireless ty, i'll send things back over to you >> let's get to deirdre bossa.

all of the way in from the west coast for this cnbc news update. >> tyler, it's warmer here you may not believe it it's warmer here on the east coast. >> oh, yeah. a person entered a grocery store in bend, oregon, and fatally shot two people and found the shooter dead with an ar-15-style rifle in close proximity to him. bob lupone is dead after a three-year battle with pancreatic cancer. lupone made appearances on "the sopranos," "sex and the city" and "guiding light" and he was 79 years old a mickey mantle card sold for $12.6 million as the most ever paid for sports memorabilia. the rare mantle card eclipsed the record, 9.3 for the jersey

by diego mara donna in the 1986 world cup. i'm not familiar with that moment, contessa maybe you are. >> if you go to youtube you can find almost every memorable moment in sports history >> it's probably an nft. >> you just ruined it by making it an nft. >> you know how i really feel about nfts and powell and the fed setting the stage for plenty of market volatility ahead and what are the key technical signs we need to watch for and what opportunities might emerge we'll be right back. how do we show that we'll stand tall through the storms? nah. (thunder) how do we make our clients feel secure and- ugh... not lions. (lion rumbles)

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less than 90 minutes left in the trading day. we want to get you caught up on the markets, stocks, bonds, commodities and a technical take on where the market is headed. let's go to bob pisani at the new york stock exchange, where the dow turned positive, but bob, lower now the important thing here is this is avictory for the bulls, contessa, considering where we started. we were 4017 at the lows at 11:00 eastern time 4046 now and we were positive for a nano u.s. about an hour

ago on the s&p what i don't like is the leadership board energy is leading again and remember, these are inflation and the bulls want to see the opposite here and that's a new high for occidental. hess is right near new high and maybe 2% away and common is 3%, 4% from a 52-week high and marathon is on the upside and chevron is helping the dow today. the other thing is these natural gas stocks, there are companies that are more natural gas oriented like apa and pioneer, coterra and pioneer has a natural gas component and that reflects, of course, all these issues going on with natural gas over in europe other than that, it's mostly defensive stocks that have been holding up throughout the morning and rally back the suspects, archer midland, campbell and big-cap tech is to the down side, but off of the lows and apple has had one amazing run and remember, they were 130 at the bottom in june

ask it went 175 a week or two weeks ago and now they're back down at 162 and that's pretty good can't say the same, and microsoft is a round trip this month and that's a round trip of microsoft this month and micron and nvidia same thing and semiconductors tried to rally in the middle of the month and have basically fallen back at this point and i would say, contessa, we're entering a weak period of the year and what matters is where the earnings estimate hold up in september and the two things that will matter are number one, the economic data starting with the jobs report on friday and we'll have a whole series of big sell side conferences coming beginning the day after labor day where individual companies will be reporting. normally it's not a big thing, but the earnings situation is very different than mid-july when they were reporting and now mid-september and they may have different things to say that's why this particular conference season can be very important contessa >> bob pisani, thank you for that let's check on the bond market

now. yields are rising as investors continue to react to fed chair powell's hawkish comments. the two year is highest on the curve yielding 3.4, that's the highest level we've seen since 2007 and you heard bob talk about the energy stocks and let's talk to oil. 4% gain for crude today and pippa stephens has those details for us >> hi, contessa. oil jumping 4% with wti breaking back above the 200-day moving average and a couple of factors including clashes in libya that are prompting outage concerns and we also have the upcoming meeting between opec and its allies where some believe they could announce production cuts and wti up 4.2% at 96.97 and brent crude at 105 european natural gas once again, the big mover today although this time it's to the down side

after a relentless climb higher and the contract dropping 2% and it will be 85% full next month which is ahead of the prior october deadline, but prices do remain elevated and that's driving up electricity prices and ursula vanderleien said today it is working on an emergency intervention and the structural return of the energy market. >> pippa, thank you for that now a technical take on the market and the signal of whether a bottom is near let's bring in, he's an institutional investor hall of fame technical analyst that's a lot to live up to in this particular segment here, jeff let ate start with chart 1 what are the speculators telling

you? i think it's interesting and you can see big, big net short positions from speculators in the futures market and those co inside with other areas of market lows and by itself it doesn't mean that we're at a market low, but i think what's important in this environment in particular is the consensus and what the consensus thinks and what the consensus thinks about the fed and then how they're positioned, because if enough people are positioned in anticipation of enough bad things happening, it will be hard to find the power to push things into a worse condition for equities, regardless of the data, right? from our position, we like the positioning because we're seeing a lot of bears express themselves with short positions and we think that leaves a vulnerability to the blue line >> indicating that those speculators think the s&p could get cut in half? >> no. it's not -- don't worry about the scaling, tyler it's just for visual reference,

but it does align itself appropriately with where we were back at the covid low. so really the same type of sentiment or the same type of positioning back there and even if you go back further similar to where we were back in 2018, both of which were areas that i think at the margin, as you look back you would rather be a buyer than a seller. >> i won't worry about the scale. thank goodness. >> it does show up nicely, the blue. >> yes, it does. beautiful. >> the second chart shows that we're more likely to see a retest >> yes we had a good momentum sig maland it was one about 30 momentum signals that we've had since 1960 and that took place about two weeks ago and those are high probability signals those for us get us interested on the long side and get us more bullish and more aggressive and you always have to think about the alternatives and one of the

things that we use is a 20-day low in our work to suggest that the momentum signal might have some more time to marijuana ei marinate and come into its own and it happened in 1962 and 1974 and that undercut low even though powell pushed that on friday suggests to us that we're in a retest sequence and importantly, when we look at those thrust indications and those momentum indicators and even after we made a 20-year low you don't make another undercut low so the combination of sentiment and the momentum signal even though i'm disappointed that we made a 20-day low suggests to us that it's more likely a retest than it is a continuation of the bear market. >> go ahead. >> if someone was to press you on, say, a tech stock, do you have a chart that would help you indicate which you like? >> you know, we don't think tech will end up being leadership in this next cycle so broadly speaking, we're okay with tech here and there, but if there's one name that really stands out,

apple and bob just mentioned apple looks good it doesn't have the big top formation overhead that meta and netflix and even some of these other names like nvidia have so if there's one area that we'd be going after from the tech side being comfortable being long it would be apple here. >> let me turn back to the prior chart where you were talking about retesting. put a pinpoint on that does that mean that the chart is telling you that the s&p may retest its june low of what was it 37-something i can't remember >> yeah. 3700 >> below that dramatically >> correct, and really, if you go back and look it doesn't get below the 3800 level that's right if we were -- this is a probability game this isn't a prediction game owe if we're trying to lay out where the probable i wants are, we think that the june low is a

good low and the momentum wasn't able to follow through that implies the retesting sequence, but again, given the speculative positioning on the bearish side, we think it makes more sense to be thinking about what could go right and not what could go wrong here. >> jeff decided to not donate nor smash his guitar when he was inducted into the institutional investor hall of fame. yeah >> thank you very much >> that's notable, jeff. >> thank you for your time >> good day. still to come, new york may be returning to work, but office vacancies remain high. what this could mean for the city's struggling economy. that's next. as we head to the break, can you -- remember, you can now listen, excuse me to the "power lunch" podcast on the go look for us on your favorite podcast app. you can follow and listen today. ve sn.ryoo bubbles bubbles

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work from home, and robert frank has a look at what it means in manhattan for real estate. robert >> tyler, only 38% of manhattan's office workers are back in the office as of mid-august it's kind of been stuck at that level under 40% since june manhattan's vacancy rate now twice what it was pre-covid with more than 50 million square feet of total office space. many new yorkers go away for the summer and many of come back and the optimistic scenarios is more than half will be back in the office by the end of the year the new york comptroller citing a big disconnect between employees and ceos only a third of employees expected to be back in the office more than two days a week among the ceos most expect three days a week or even more the controller saying, quote, these rateses have largely stabilized and appear to rise

quickly in the coming months the partnership for new york a little more optimistic they sayoc pansy could reach 50% by the end of the year it says younger employees are largely back we've seen that with rents in manhattan, but the big resistance still coming from, quote, older workers who live in the suburbs and do not miss the commute. it comes from a really important data point in this new normal of remote work. >> let me make sure i'm understanding the numbers here 50% occupancy would mean 50% of the workers are back in their office spaces, but that's different from the occupancy rate of real estate, isn't it? >> on any average day, they think by the end of the year offices will be about 50% occupied the vacancy rate in new york which pre-covid was around 6% or

7% is now around 20% in most major other mas. >> got it. >> -- in new york city that's over 50 million square feet so, yeah it's 20% total vickancy and most leases are ten years most leases haven't come up for renewal post-covid so this say very slow-moving, delayed market a lot of people don't need space and haven't gotten rid yet because their looses are up yet, but they will be in the coming year. >> has anybody figured out what companies can do to induce workers to come back particularly those suburban workers who might not want to come all of the way back into manhattan? >> well, they've tried the free food and the festivals and jamie dimon and others say if you don't come back and you don't perform your seat is not going to be there. so i think particularly if we see any sort of softening in the employment in the labor market it's the ceos that are resorting

to threats and just saying, look, you may not have a job if you don't come back to the office. >> so what would induce you to go back to the office? the potential to be fired. yeah great. so more stick than carrot there. >> thank you, robert, for that >> after the break wall street loves these stocks our treriv h te xtad gesisakne

welcome back to "power lunch. after the dow's 1,000 point drop friday, we are taking a look at three blue chip stocks most loved by wall street analysts. the names screened are more than 50% buy rated with more than 10% upside boeing one of two dow stocks positive last week is two-thirds buy rated with an average price target of $210 goldman sachs, the only financial to make the screen, with an average price target of 388. disney carrying 75% buy ratings still down 27% this year boris schlossberg joins us let's start with boeing today, boris. >> so boeing was a stock that

you couldn't giff give away for free and now it's probably the single best stock of the three we're discussing today it's come back in a big way after the 737 disaster there's tremendous book of orders in fact its biggest problem is deliverability and that's what investors are looking at, how many planes they're starting to deliver as they ramp up production they're still behind airbus because of china, but i think that's political much more than comic issue. the rest of the world wants their products when the dreamliner comes on, it's only going to add to free cash flow. i think demand for travel and secular growth for very, very efficient airplanes will be with us. >> speaking of demand for travel, what about disney? >> so this i'm a little bit more wary of. not because it's not a great

company but because i think most of the good news has already been factored into the stock the return back from post-covid to the parks has already kind of happened and further growth i believe will be much slower than it was before. the disney streaming has kind of penetrated as much of the market as you can possibly imagine. now they're going to the video and advertising model and that's going to take a little while to scale. there's also the open question of espn which is losing a lot of its luster because it's so expensive to do life sports broadcasts as a matter of fact, live sports broadcasting is becoming the domain of apple, google and amazon so if they spin espn off, it's going to be a big positive for the company because it won't be as much of a profit drain. i love it as a perfect covered call stock i think it's going to be range

bound for quite a bit and you might as well sell calls against it. and final name, goldman sachs. what do you make of it >> also another really storied name obviously you have the prime name in finance. my biggest issue with goldman sachs right now is the fed the fact the fed is really starting to raise rates and kind of is adamant about going to 3, 4%, it's really going to stymie their investment banking business which is a third of their business it may stymie their trading business if markets slow down a little bit obviously the stock is at the upper end of book value and so, therefore, goldman sachs right now is probably a sell the put kind of a story. you either want to sell the 3/10s but i wouldn't want to own it at this level right now. >> cheers for you, boris thank you for that >> thank you so much >> for the full list of stocks

that made the screen and other top investing news and stories of the day, head on over to cnbc.com/pro. up next, a new sign that inflation is starting to ease. we'll go under the mroopicsce and look at that when we return. icy hot pro. ♪ ice works fast... to freeze your pain and your doubt. ♪ heat makes it last. so you'll never sit this one out. icy hot pro with 2 max-strength pain relievers.

a new look today on how inflation is hitting the wallets of americans dom chu putting that under the microscope for us. dom. >> tyler, contessa, the bottom line is things are getting slightly, when i say slightly,

just incrementally better for americans overall. this is the latest data out from a survey that was put out by lending club it looks like the number of americans who are living paycheck to paycheck, having financial difficulties, well, what happened in the month of july of this year is that number is now 59% the good part about the story is that that's incrementally, again, better than it was in june where it was 61%. so things are getting slightly better but it's still much worse than it was in july of 2021 where a little more than half of americans said things were paycheck to paycheck what's interesting about this is no surprise perhaps that it breaks down differently by income bracket if you look at those people making $50,000 or less, those people, three-quarters of them pretty much say they are living paycheck to paycheck as you go up the income spectrum, you expect that that number gets lower and lower, and it does. what's curious about this latest

data is that the number of people making $200,000 here is now 30%, where it was the previous month 36% so if you take a look at the way things are improving, there is still a long ways to go before things get really good but what you're seeing in the marketplace is commodity inflation coming down, real estate prices coming down, all of those things moving in the right direction. you're starting to see a little bit of that reflected in sentiment among people feeling a little better about their finances versus what they were a few months ago. >> but you're saying improvement is happening faster for those who earn more. >> it is asset prices during that time over the last several weeks up until this downturn last week have been getting a little bit better so maybe people just feel like they're a little bit better off than they were before. >> but also paying 15 cents more per gallon of gas is less likely to affect those who earn

$200,000 than those who earn less than $50,000. >> absolutely. that's why policy makers and experts alike agree that inflation is one of the biggest taxes you can put on people. >> falling gas prices is the most immediately recognizable way to indicate that prices are getting better. >> billboards on the street. >> we've got to leave it there thanks for watching "power lunch. >> "closing bell" starts now. stocks staging an impressive rally off the lows with the dow and s&p clawing back from a 1% drop the most important hour of trading starts now welcome, everyone, to "closing bell." i'm sara eisen we've got three sectors green helping the s&p 500 which is only now down a little more than 0.1 of 1% we've got on the bottom of the market technology, health care, financials and communication services that's whythe nasdaq is underperforming.

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