industry i like the margins story >> micron. stock isn't going down beautiful technical setup and the ceo is saying demand is outstripping supply. >> josh brown? >> i think the oil stocks are trying to bottom here. i like the odds. ieo is the way i'm invested. >> cvs is bottoming. >> "the exchange" is now ♪ ♪ >> thank you, scott. hi, everybody. i'm kelly evans. ahead today on "the exchange," is the coast really all clear? inflation overseas falling sharply. the nasdaq up 20% from its lows. oil popping 6% this week is the market giving us the all-clear or not that's the question we are looking to answer today. we'll read the tea leaves as trading activity picks up. we'll tell you whether you can

trust the tech rebound or if this is a quick sprint in a bear market and what happened to the safety trade? health care is the worst performing sector so far this year and our investor says the upside in big pharma is capped. he'll tell us where he is looking for safety but first, let's go over to dom chu with today's mask moves. >> if you look at what's happening, kelly, it's mixed right now. we're tilting towards session lose we have drifted negative for the dow industrials, we were up 184 points at the highs of the session. but 4016, we're still holding above that that's the 50-day average price. up ten points right now, but at the highs of the session, we were up 30 points. at the lows, up around 8 of course, that tech trade is playing out. one thing i want to look at, we are seeing some relative strength in the semiconductors

look at it it's above its 50 day and 200 day moving averages. but we're still seeing some relative strength in semiconductors that might be a decent sign. we'll see if it holds. one stock that has my attention, ev go. look at this >> ev charging company >> up 22%, smaller than expected loss for the quarter, better than expected revenues tamd revenues up 283% from the same quarter last year so small company, but still shows some of that growth that some investors are looking for >> mirrors the momentum we have seen in tesla. all the stuff that was supposed to do the best has been the worst financials, down 7% this quarter. energy, down 6%. this was supposed to be a rate beneficiary and a china reopening story. >> value trades, these are all value sectors. >> more on health care in a

moment, down 6%. and tech is the best performer, soaring 20%, followed by the communication services space consumer discretionary, as well. one of the biggest outperformers has been semis nvidia up 87% this year. amd, 52% this is why we focus on it highest levels of the year >> absolutely. not just for the technology sector, but a leading i would k -- leading i ing indicator for market >> tesla is the best stock, up 50% year to date, followed by royal caribbean, up more than 30%. >> big moves for sure. in the meantime, if the semis are leading the way and stocks are shrugging off the banking issues, does that mean we are in the clear? let's ask chris murphy he'll give us the pulse of the option space and don't get too excited about

the good news just yet we'll reveal the new recession hedge in a moment. chris, you are seeing some signs of optimism here in the short term >> sure, not only optimism, but volatility in general, just coming in a lot. it may be surprising to hear, but the last three days of this week, the s&p has traded in the less than 1% open to close intraday range that's the first time we have had three straight days since the market peaked at the very beginning of 2022. so it's been over a year since we have had this kind of intraday calm. and when things start to calm down in general, you know, people get a little bit more optimistic about their stocks, and the fed has not really been the market's friend for over a year but when the going got tough with the banks, you know, we were reminded that at the end of the day, the fed's balance sheet is there to protect the market

so that calmed people down >> where else do you see bullish signs? >> well, we're seeing bullish flow in airlines, in medals, in china, and of course, we're seeing bullish flow in mega cap tech if i can remember one trade this week in amazon, that's been so beaten down. it hasn't been to 140 in a long time if you are a little concerned about whether this is another head fake or not, at least you know what your max loss is to those trades so we're seeing a lot more of that recently. >> amazon today, just under 102. what about some of these areas, you know, maybe i'm more concerned about what happens in the fall i'm putting on those kinds of hedges and positions do you see any of that happening? >> you know, the fall is a very long ways away when you have an

options market where most of the trading is happening in the first week there's still a fair amount of uncertainty. you can look at the vix futures curve. it was below 19 today. but if you go out to this summer, it's closer to $23, $24. so the uncertainty ramps up quickly. i would say investors in the very near term, you know, feel relatively comfortable the bank situation is somewhat under control. but a fall is definitely a long ways away. >> the final question, chris, when you read -- when you look at the price action, the other indicators that you mentioned, do you think that the second quarter will look similar to the first in terms of the market >> umm, i think the second quarter is still, umm, the volatility levels have come in a fair amount. i think for some dramatic change like a couple of really aggressive inflation prints or the economy to really fall off a

cliff really quickly, i don't think that's really being priced in, you know, it's kind of like the u.s. economy is the titanic, and it's not really going to shift that dramatically most likely in a month or two so we're not seeing that >> chris, thanks for your time today. let's get to sarah now, chief investment officer welcome. maybe you can describe, are you a little more worried, a little less so looking at the stock market's activity, as we look to close out the first quarter here >> hi, kelly markets are staining a relief rally, because no news is good news but what we are concerned about is soon we will shift back to inflation and the fmoc we're worried the baton be l be passed from rate hikes -- the

bigger question is the market remains in a trading range we won't be surprised if the s&p does up to 4400. but likely back down to the 3800 until we can get clarity >> has the sort of odd twists and turns where financials and energy are underperforming, mk t -- health care too, is how does that affect your strategy here >> we came in with technology as a top sector pick. but you need to be selective we're not talking about the mega cap stocks that have heavy advertising exposure areas such as software, we like service now as a company and semiconductors coming off the intel analyst day, could be our upside there, and also all the ai noise out there and rhetoric so it could be good for those areas of technology.

the sharp increase in interest rates is going to pressure net interest margin. now with the turmoil we have seen, we expect tighter regulations around capital and liquidity requirements and more competition for deposits bigger picture, a tighter cycle going forward, and that increases the chances of a recession. >> does that have you more worried about some of the retail names, the industrial cyclicals and where you might go if you wanted to hedge the recession outcome that you are describing. >> our focus is on quality quality across the board the companies that consistently grow their dividends they have strong balance sheets to survive during a recession.

you can find those in many areas of the economy look for those companies that have the quality characteristics. those will be the survivors. >> if you had to bet, would you say this market rally keeps going until something breaks or bad happens or will we end next quarter looking back at a much more difficult period than q1? >> given where the markets are and the relief rally over the banking sector, there's probably more near term upside. one of the key risks of inflation has been wage inflation. that has about half the weight in tc ethe than it does in cpi. so until we start to see our long-term view that inflation will stay reasonably strong for a while, interest rates will stay high for a period of time that will have implications and slow the economy we're just one year past the first rate hike.

>> sarah, good to check in with you. thanks for your time coming up, health care is coming off its worst losing streak in three years. we'll look at why, and whether this three-month losing stretch is a buying opportunity. the nasdaq 100 is up more than 20% from its recent lows. it's still 15% below its all-time high. is it is a baby bull market in the making or a head fake by big tech and here is a quick check on the markets. we have given up 188 points. the dow up 11. and a half percent increase for the nasdaq keep an eye on the russell 2,000. "the exchange" is back after this

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welcome back health care one of the safer places to be last year, down 3.5% it was the top trade for 2023 as well but hasn't played out health care is one of the biggest laggards, down 6%. that rivals what we have seen in the financials and energy. biotech is still red, despite the tech run you have seen, down 2.5% pharma, down 10%

so does this mean that health care is a safe place to be, and if so, where my next guest sees more gains ahead. thanks in part to a weaker dollar good to have you back. welcome. >> thank you for having me >> you think there's a real reason that med tech and big pharma, we're seeing such a differentiation? >> let me just say that historically, the first quarter has always been the weakest for health care broadly. so i expect the rest of the year will be a little better. i think what we saw the first quarter was basically a give back of some of the massive returns, and they were really good last year in particular, for big cap pharma and manage care so it's giving back some it's not necessarily a loss, per se but med tech is sort of the reverse. last year, now, they're starting

to come back weaker dollar, volumes are improving somewhat and some new products coming >> so let's talk about the names that you like and the conviction that you have as you said, health care usually doesn't do that great in the first quarter. so as things pick up, where do you think people should be looking? >> if, and that's a big if things start to pick up, and we think they will, med devices in part particular, should do better there is a mixture of growth and also fairly safe in terms of valuation. where i would be a little hesitant jumping in both feet is biotech, which is still captive to rates and overinvestment. pharma, likely in the middle of

the pack in our judgment right here last year, solid dividend we're going to probably hear some noise out of washington, which probably amounts to nothing, at least for the next say two quarters and probably resolve itself at the end of the year. we are starting to look at some very cool trends happening in cellular analysis, single cells, spatial, bio all are beneficiary of the multiyear trend, but i think there are some concerns about china that will probably put some pressure on them until like the third quarter. >> where would you say are the riskier parts of pharma, the places you wouldn't really want to be playing around if you're not a specialist, i guess?

>> well, that's the easiest question for us. i'm not a specialist there are too many of them they all need to raise capital it's a difficult time to raise capital. the ipo market will get a little better in the fourth quarter, along with the capital raising environment is terrible. a lot of them have debt, which we heard is not such a good thing these days so i would stay clear of them generally or be very selective we have been dipping our toe into a biohaven. they have good data. that would be the playbook if you had to buy biotech >> thank you for your time today. appreciate it. >> thank you still ahead, you know the old saying as the transports go, so goes the market the group is falling behind the s&p this month insiders say higher rates are a

big part of the reason we'll tell you why and what else might be behind the climb. and across the dow, an 18-point game intel is leading the way again today. now up 10% in two days disney up there, as well "the exchange" is back after this i'm an investor in a fund that helps advance innovative sports tech like this smart fitness mirror. i'm also mr. leg day...1989! anyone can become an agent of innovation with invesco qqq, a fund that gives you access to nasdaq-100 innovations. i go through a lot of pants. before investing carefully read and consider fund investment objectives, risks, charges, expenses and more in prospectus at invesco.com.

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stock. remember when charles schwab's ceo told us he bought 50,000 shares on march 14th and then all the banking turmoil? today, morgan stanley is downgrading the stock to equal weight, saying customers are moving cash into money market accounts at $20 billion a month. that's double what morgan stanley was modeling the shares are down 5% today, down 20% since regulators shut down on march 10th and down 40% since january. and yes, financials broadly are the worst performing sector. communication services is the best with an 8% gain dom chu has a closer look. >> it's about 13% higher than the financials everall that communication services sector, just from a year-to-date basis, kelly, is up 18% versus a very modest but respectable 5% gain for the broader s&p 500

that gap has gotten a little wider over the course of just the last few weeks here. so something to keep a close eye on one of the reasons why is because there's more of a focus, given the interest rate dynamic, on whether or not companies are more leveraged, that is to say more debt laden than peers or other industry groups. we asked them to crunch out some of the highest debt-to-equity ratios turns out that charter communications is one of the highest in the sector at 11 times in terms of debt-to-equity ratios omnicom, 1.7 more debt than equity side of things on the flip side, there's a reason why there is a huge focus on the mega cap technology among the least levered on that

debt-to-equity basis, alphabet, no debt at all in terms of overall equity exposure. meta, no debt either activision, blizzard, video game makers, social media, and internet search among some of the least levered companies. some to watch out there as things shift around with the interest rate picture in america. back over to you >> dom, thanks now to tyler mathisen for a cnbc news update >> thank you very much here is your cnbc news skrup date at this hour. a fire broke out on a ferry in the southern philippines and raged overnight for eight hours. the blaze killed at least 31 of the approximately 250 passengers and crew on board. many of the more than 200 people who survived the fire were rescued from it by the coast guard, navy, and local fishermen. rescuers are still searching for several missing people who are unaccounted for.

secretary of state antony blinken releasing a statement over russia's widely reported detention of u.s. journalists who writes for "the wall street journal. he was detained in russia on alleged spying charges less than two days after he co-authored an article titled "russia's economy is starting to come undone." blinken, condemning the kremlin's actions, and advised any u.s. citizens residing in russia to depart immediately defense secretary lloyd austin releasing a statement on last night's black hawk helicopter crash in kentucky that killed nine service members. he said he's working with army leadership to make sure all troops and their families receive the care they need in the wake of that tragic accident kelly, back to you >> tyler, thank you. coming up, the triple qs are up threefold since their december lows. should you chase

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welcome back tech is the best performing sector so far this year. get this, the nasdaq 100 is now 20% off its december lows. is that a bull market? wait a minute. are things as rosy as they might appear our next guest is warning investors not to get too excited. chris bennett is a chief

investment strategist. and mike santoli joins us. mike, i don't think it's semantics, it's metrics or whatever what is the definition of a bull market versus a bear market? and what is this 20% technically called >> i would say there suspect one specific prevailing definition of a bull or bear market there are some standards i think the 20% return off the low is an incredibly blunt one factor, not very convincing version of what constitutes a bull market. for example, the longer term trend in the nasdaq 100 is flat, the 200 day average is not higher the index is closer in poims to its low than to its high i don't think you necessarily have seen the kind of prevailing winds turn to the upside for the overall markets where you're going to declare that the new environment is a bull market, especially with the nasdaq 100 >> that being apple and

microsoft? >> yeah. >> so chris, would you interpret it the same way here >> i think we have the setup for a perfect bear market rally. if you look at the bubble aftermath, you had four market rallies in march 2000 that were on the order of 25% to 50% in the context of a down trend. so i think we can get into technical jargon, is it a bull or bear market rally but to me, new bull markets are formed when there's been reseem changes, when fundamentals reflect positively, and we just haven't seen either of those so positioning into early came real negative, if you look at the futures position the recession that everyone was widely anticipating didn't hit immediately. and then you have the second leg of this, and perversely enough, tech is being viewed as

defensive rally rather than cyclical >> yeah. i thought it was interesting how you said a new bull market requires new leadership. we have the prevailing leadership of the past decade. would you say we have to make new highs to say that we are on kind of a new bull trend, mike >> look, you can argue that. if that were the case, we weren't in a bull market from 2009 to 2013 we didn't make a new all-time high some people will tell you, it sort of has to be tested if you want to do that. so the question really for me is, the nasdaq 100 could prove itself to have been in a new bull market. i think it's more interesting to discuss do the october lows look like they are going to be important? and how much could you fall before you bring those -- that back into sight? to me, that's where we are right

now. it's not so much we're going to make an attack on the all-time highs, but have we established a new range? positioning got very negative. it's happened multiple times, but people overanticipated bad things, whether it was a recession or the fed become more hawkish than expected. so the downside we got to because of the negative positioning was also an overshoot in the short term. >> would you agree, chris, and where does that leave us set up for the next quarter >> i think the big change in factors was fed liquidity. we found a strong correlation between the fed balance sheet reserves that they have, we'll get the update after the close today, and the nasdaq. and i think there was a turn in fed liquidity in the beginning of the year, so we think it's been all about the fed and you throw in these

technical, tech trading ranges and relative strength and that matters too, but to me, the biggest turn and the reason the nasdaq has performed as well as it has, hasn't been eps revisions. other than meta and a few semis, eps revisions have been down, not up what's up between, you know, now and the beginning of the year? expectations the fed may cut in the back half of the year. >> that said, why aren't you more bullish you say you're still bearish, as the fed cuts hit but if the liquidity underpinning is now turning, why are you not more bullish on that support, being something that stocks can ride higher >> we're in a strange environment. the fed hiking and cutting at the same time, so our view is that what happens over the last couple of weeks is a seismic event. bank credit is going to tighten,

tech spending is going to get cut. tech is cyclical, and we'll find out when companies some on your show saying, things just abruptly solved, and we have entire conviction in that more now than even at the beginning of the year. credit is the lifeblood of the economy, and we are unwinding a 13-year tech spending bubble >> very interesting. mike, quick last word. >> yeah, i'm a little less foc focused -- the thing to keep in mind, it sounds so right to say we were in a 13-year, zero interest rate investment boom. but we had a tightening cycle in there. it was very stunted but it got interest rates up to about where they are right now in 2018 and

the market did papanic off of that >> all right mike santoli, chris, thank you both >> thank you coming up, china has reoreopen ed, but the trans4fortransportse facing that's next 123450

welcome back forget the trucker short an, the supply chain stoppages now rates are the big head wind facing the freight industry. hi, frank. >> the ceo of gxo, a provider

for apple, nike, and verizon says demand is softening as companies adjust to the higher interest rates in the near term. >> right now, what we are seeing is customers are being thoughtful about this environment with higher interest rates. but we're seeing no end to big, transformational projects. >> those projects include shoring, but trucking rates falling 27% year over year, but they are 4% over the same time in 2020. so pricing remains strong. but rate pressure is expected to continue to hit demand >> depending on their leverage level, they will be impacted by raising interest rates it just provides less cash, you know, to invest in their business and do other things

so we're expecting that to have an impact on demand. >> obviously, there's no exact time for this. other ceos tell us they expect a soft q2 but more of a rebound in q4 >> i guess the bigger story is despite what should be this whole sector emerging from all these issues strongly, they're emerging from it and facing potentially a demand downturn. is that the gist of it >> you know, that is part of the gist of it i mean, volumes have just definitely declined. people are spending less money during the pandemic, we were just buying things and buying things and stocking up on things we were also buying things online e-commerce requires more warehousing space and inventory. and also the big macro trend of the year a lot of companies are readjusting the supply chain they're having less inventory and making fewer decisions right now and trying to position

long-term. >> frank, thank you. frank holland. our next guest says the freight recovery is underway don, welcome yeah, so the -- everything should kind of be -- i guess people figuring things out now, except we're worried about a big downturn what are you hearing from these companies and what should they do to position >> well, the politicians and press are always worried about something. the bottom line is you have to look at the facts. the facts are this, the volume of truckloads posted in the stock market have declined from the levels that we had early last year, but they're still 2 1/2 times what they were at the bottom of the covid quarantine and they're still higher than they've ever been in history precovid when i look at spot pricing, that's down over 30% from the

peak from early 2022 but they remain higher than any precovid levels. and contract pricing, while it's retreated about 5% from the peak, it's more than 35% higher than it was at the end of what was precovid so rail, industrial carloadings, are up 3% year-to-date that's strong. people aren't switching from the highway to rail because diesel prices have come back down commodities that need to be exported, there are notable strength in auto auto volumes are up 11%, and four plus years of pent up demand crushed stone and sand that we make foundations with is up 12%. lumber is still down, but it's

started to improve steel is up 5% year to date. volumes are essentially flat, but we are seeing the oil and gas exploration in the united states decide it's going to replace russia as europe's energy provider. and in doing so, it will drive ever larger incremental volumes, in that industry >> it's interesting that international freight flows have been weaker than domestic ones why is that? >> in 2021 and 2022, shipping container prices were sky high containers themselves were in short supply, and transit times were unreliable. so that's been addressed we've built capacity, containers are available. prices have returned to normal and just as that was happening, the chinese started shutting down entire cities to deal with

the spread of covid. and most supply chain managers had already had enough, and that just threw saltwounds, and they said we're going to reengineer our supply chain because we can't do this any more as that was happening and to make things worse, russia's invasion of ukraine have made things more complicated because first it required the air freight industry to divert flights. fedex might have over 700 flights, but nobody wants to nigh such a valuable asset near a war zone it also has thrown ocean shipping lanes out of balance. so you have tons and tons of grain and steel that normally were coming out of the black sea that have disappeared. so that throws lanes out of balance. that's before we consider the

guilt by association that was already occurring, but has only been strengthened by the recent meetings with putin and xi jinping. fears of china's expansion into taiwan, similar to what russia has done, may not be warranted but like most fears, it's making people change the way they do things and that includes finding places other than china to sort its products >> and you still like fedex and jb hunt. don, always good to talk with you. still ahead, online banking, including the realtime payment services has changed the way depositors and institutions move money. just because funds move quickly doesn't mean the bank turmoil will, with the stocks in the red keain today. ta a look at the worst performers in the kre this month. first republic down more than 88%. we'll be right back.

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>> reporter: the biden administration is proposing some stricter bank rules that it says would prevent future collapses like silicon valley bank and signature bank first and foremost, the administration is proposing the reinstatement of some of the original provisions of the d dodd-frank law that would to banks between $100 and $250 billion in assets. the white house says these banks should keep more liquidity on hand, have more frequent stress tests, they should also have living wills or resolution plans that help them be wound down more easily and a shorter transition period to come in compliance with those rules. that currently three years for banks over $100 billion in assets they're also proposing new regulations for this banks they say stress tests should assess a rising interest rate environment and what happens when you suffer severe deposit

outflows those have not been tested they also suggest that banks keep more long term dent on hand as a bigger capital buffer in the case of something like what we saw in recent weeks and finally, the fdic should be raising fees on big banks to fund the deposit insurance fund which has been depleted to backstop the deposits at silicon valley bank and other banks. the administration says no changes to legislation or no new lolls would have to be written to put forward or implement the rules they're proposing today, and notably, they say they have been in touch with all of the regulators and they support a lot of those actions that list did not include an increase in the deposit insurance threshold above $250,000 i asked a white house official whether that means the administration doesn't believe that threshold needs to be raised and it won't call on congress to do that, and the

official told me the fdic will be putting out a report on that by may 1st they're going to leave it to regulators on how to proceed from there >> absolutely the most important point here thank you, as we're showing again pressure on the banks. speaking of which, let's turn to steve leishman it's been a flurry of headlines. breng them to us >> yeah, so we have three fed speakers speaking right now on interest rates, on inflation, and of course, on the banking turmoil. susan collins from boston speaking right here at the meeting saying it's too soon to say what the fomc should do at the next meeting banks are likely to take a more conservative outlook on lending and could play a role in policy ma making neel kashkari says we have to bring inflation down he says the vast majority of banks have taken interest rate

risks seriously. he sees the financial system as sound. it's unclear how much banking stres will lead to a sustained credit crunch but it could last longer than people expect. and finally, thomas barken said he's comfortable with this idea of going meeting by meeting determining each meeting whether the fed ought to do a quarter. they had prepared text and earlier collins said some additional policy tightening will be needed she's onboard with raising rates, just not necessarily at the next meeting it's probably worthwhile to take a look, i'm going to do that right now as we speak with these headlines crossing what's happened to the probabilities of a rate hike in may you can see, it's 46/53, something along those lines, leaning towards a hike in the may meeting. but really in between, and

honestly, listening to these three fed officials speak, perhaps with the xepg of kashkari, you could imagine all three of them going either way dependling on what the data say come may >> yeah, fair enough, steve. thank you very much. we appreciate it all right, my next guest pretty much agreed with neel kashkari greg says that despite depositors and institutions easy access to money, they should be ready for protracted stress. i think i said reporter for the "wall street journal," good to see you again. welcome, and i think there's sort of a meshing of multinarratives here, which i know probably bothers you as much as anybody, but i think what kayla just said is important. until there's some movement on the fdic front to clarify what the rules are, we're probably going to see the market push this to a kries point again. >> yeah, i think there's a comthings going on a policy aspect. on the policy aspect, i think

the fed and fdic have bought time, so long as there's this assumption they'll declare systemic risk, then i think it sort of stabilized the mid-sized and smaller banks. i think hanging over that are these longer term structural factors that are going to corrode their competitiveness over time. we know silicon valley bank was not the only bank with a lot of unrealized losses. there are a lot of banks in that situation. as my colleague reported this week, a lot of banks have been shifting bonds from their available for sale to their hold maturity category to avoid recognizing that we also know there's a surge in deposits over the last couple years. most uninsured what we saw with silicon valley bank is the easy availability of moving your money around means those deposits are a lot less stable than in the past. if the fed is going to keep rates high, as for a while yet,

as steve just told us seems likely, that's going to put a lot of pressure on banks to start raising deposit rates. that squeezes their funding costs and creates long term pressures. >> you know what's ironic is rate cuts would probably do a lot to stanch this from getting worse. if they normalize, harmonize to some extent, they think another trillion dollars could move into money funds. like you said, this is going to be a solvency, or a profitability issue for quite some time. >> if you look at the decline in the stocks' prices, that's what the market is telling us it's telling us this is what we think the future value of their lending franchises are we don't think they're worth very much in a world where your funding costs are going up a lot. and by the way, if we -- if the federal government does extend these tougher capital liquidity ratios to inmidsized banks, that

too starts to squeeze them and raises their cost of capital probably reduces a return on their assets, and that, too, i think represents an existential risk if at some point the assumption of deposit protection is weakened, then what do you think is going to happen bankers, smaller bankers are going to say, listen, i need to move my money somewhere. i might as well move it to the banks the government has already indicated it will not allow a sale and i think that's together a very tough set of circumstances for the smaller and mid-sized banks to navigate in the coming decades. >> absolutely. greg, thanks for joining us today. well said. good to see you again. >> thanks. all right, so before we go, we wanted to answer the question we posed top of the hour does the data suggest the coast is clear or is there more trouble ahead? here's where our guests came down on that greg still seems trouble

pretty evenly split for now. for more, you can sign up for my newsletter, or scan that qr code on your screen leis getting ready for a big hour of "power lunch." i'll join him on the other side of this break. children in ukra ine are caught in the crossfire of war, forced to flee their homes. a steady stream of refugees has been coming across all day. it's basically cold. lacking clean water and sanitation. exposed to injury, hunger. exhausted and shell shocked from what they've been through. every dollar you give can help bring a meal, a blanket, or simply hope to a child living in conflict. please call or go online to givenowtosave.org today with your gift of $10 a month, that's just $0.33 a day.

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who are living their lives in conflict. every war is a war against children. please give now. hi, everyone welcome to "power lunch" alongside kelly evans, i'm tyler mathisen glad you can join us on this thursday coming up, stocks holding on to gains in march it's tech leading the way. the nasdaq up 4%, and the gains are even bigger for tech's big four, apple, amazon, alphabet, and microsoft. all up about 10% or more this past month can they continue to lead the way or are valuations getting a little stretched >> plus, wall street bonuses taking another hit a big one down 26%