which meant hiring 20 new employees — and buying 20 new laptops. so she used her american express business card, which gives her more membership rewards points on her business purchases. somebody ordered some laptops? cynthia suarez. cfo. mvp. built for cynthia's business. built for your business. amex business. welcome to "power lunch. glad you could join us today coming up, smoke still blanketing new york city, much of the northeast we'll look at the impact it's having on businesses that rely on customers being outside and the battle over the back to office movement google will be cracking down on attendance that story and more coming up. first, a check on these markets. the dow is pretty much around

session highs. dow up 140 s&p up 0.4%. nasdaq up 0.80%. check out shares of carvana, soaring 40% today and 370% this year this is still only a $22 stock, the company is expecting $50 million of profit in the second quarter analysts were expecting them to break even travel and leisure names falling today. wynn and las vegas sands falling. expedia down we begin with the air quality concerns here on the east coast the smoke from those canadian wildfires causing new york city's worst air quality in recent history officials telling residents to try and stay indoors the smog leading to a host of

event cancellations last night from major league baseball games to broadway productions of hamilton and "camelot. target saying they will not offer drive-up services at places where it's dangerous to be outside matt higgins joins us. how is this air quality issue affecting your businesses, those that depend on walk-up customers? >> i think the way has handled it has been somewhat of a disaster this is foreseeable. we knew about the canadian fires. when i talk about the businesses we invest in, blue stone lane, magnolia bakery, iconic brands, what i hear is could we have had more notice, communication we're new yorkers, we're tough, we've been through everything, but there was a feeling that there wasn't enough communication. across the board, businesses are

down 15% >> how would you have expected them to know this was coming to the degree it was coming >> they don't need to know the degree to which it was coming. i was the press secretary for new york on 9/11 we have a collective ptsd in new york if there's going to be a massive apocalyptic smog depending upon our city, you can communicate what may happen so businesses can prepare. as a result everybody goes home last night and says oh, my god, what do we do? we panic and shut everything down we could have adapted with more communications >> to be fair, things have not completely shut down if you want to dine outdoors, maybe you make a decision that you're not going to. you don't hear of a lot of business closures. it's certainly not like covid. >> all i can tell you is what's going on on the ground foot traffic at these businesses that depend on foot traffic, restaurants, anything that does dining, they're experiencing a

dramatic decline it may not seem like a big deal to you, but coming out of covid, every dollar matters if the city could have communicated, we could have prepared and went on with our day. lots of cities contend with air pollution. but there was a lack of communication and urgency. >> if the city had given you five days notice this was coming, what would you have done >> people would have been prepared with masks. when they walked out and they saw that the entire city had descended into this yellow mist that we have never seen -- i was there on 9/11, this is worse than that. people panic when you go through that and have it burned in your memory people would have known it was coming made provisions. people who have kids who have asthma would have been able to prepare. but we all scrambled late last night. >> yeah. i guess i question whether masks would have changed people's willingness to go out and go to

patronize a restaurant or an event. i think major league baseball made a smart decision in canceling the games last night because there's a risk to individuals who have asthma and kids and the elderly i question if -- if you had five days to hand out masks that the restaurants would be full. >> it's not about handing out masks. the first rule -- >> that's what you seem to be making it about. i just asked the question, i said what would you have done differently if you had five days notice you said you would have been able to hand out masks >> i would have communicated to employees, we will have a health situation in new york, if you have a health condition, stay home, come prepared. i would have given the full information. the first rule of crisis management is to show up and provide information. >> are people going to pursue damages here i don't know what those avenues

would look like exactly. >> i don't know if people are going to pursue damages. if you look at the data, the number of wildfires i think is 15 times in terms of the acreage. this may be a steady occurrence. if we're acting in an ad hoc way, and this happens all over the world, but we are the capital of the world we should know how to handle crisis better. >> matt, thanks you. let's look at the potential impact harmful air quality could have on things like the theme parks which are heading into peak season right now. shares of six flags are down about 3% today ian safino with oppenheimer is worried things could get worse if this stretches into the weekend. tell me about your concerns and their exposure >> thanks for having me.

the way i look at this, we're lucky here from the perspective of the timing of this. midweek tends not to be a busy time for six flags kids are in school, people are at work. not a lot of people are attending the parks right now, particularly not in the summer timeframe. i do worry as we get into the weekend and if this persists, i'm not a weatherman i think i was an infectious disease scientist before with six flags and covid, now i'm a weatherman, i'm hoping a lot of this blows out to sea by the weekend. if it persists and looms, we could face some type of decline in attendance. >> how much of six flags kind of annual revenue, if i can put it like this, does a single june weekend carry in terms of exposure >> i think the way to think about it is they have 27 parks roughly speaking this probably affects today

about four parks -- sorry, two parks. four are in striking distance which would be great escape, montreal, which are currently not affected new jersey and d.c. would be affected those are the four out of a system of about 27 june tends to be busier. the cadence really becomes july and august are really the make and break. that's where your months are and your weekends become that much more important >> i assume there are properties in california and the west that have been impacted by wildfires as well. what is the experience there been >> so, i think the way to think about wildfires is primarily as a rain day you know, if you see a lot of smoke in the air, just the way rain happens, that impacts it and where you are. you know, if you're in the ski season, if you're in new york and new york gets a lot of snow, people will head up to

killington and go skiing even if there's no snow up in killington because it's a psychological effect to put numbers to it, on a rain day, if you look at the first quarter, l.a. and northern california were rainy. attendance swung about 10% you basically -- they comped down 5% when they would have been up 6% california is about 40% of attendance during that first quarter. it's a very, very large slate. >> makes you wonder if the impact wouldn't be larger. who knows if this would ever happen again you make us aware july and august, if that does happen, theme parks won't be happy. ian, thank you all right. all the business impact that we've been talking about depends on how long this smoke and haze sticks around. let's go to lindsey reiser outside in new york city right now. is it getting better i see you are masked up and prepared >> yeah, thank you for having

me you know, we've been dealing with this for more than 24 hours or so. my nose is running people have been rubbing their eyes but the numbers show there is an improvement. the air quality index for this region should be around 50 that's considered normal/healthy yesterday when we saw that orange haze blanketing the city, the aqi was near 400 now that number is in the 170s it's high but much better. it's expected to get better throughout the week. we do know this has had wide impacts. you guys have been talking about the business impacts schools have closed in newark and elizabeth, new jersey. yonkers' schools are closed. a lot of shows have been canceled i have been talking to tourists. this is their vacation one tourist said doing the hop on and hop off, instead of

hopping off, they would stay on the bus. another family was bummed that their "hamilton" tickets were canceled right now we're seeing areas like d.c., philadelphia, areas in pennsylvania, delaware, maryland, they're seeing the worst of it now. meteorologists expect things to improve. tomorrow, the aqi is expected to be around 120. still unhealthy for sensitive groups but not for the entire population hopefully by the weekend things will be much clearer guys, back to you. >> i don't want to put a pint on it, but when over the weekend? friday night, saturday morning, saturday night, sunday morning >> kelly has plans >> the weather models are showing by saturday morning the smoke should have moved on the national weather service would be the ones -- they've been posting constant updates on twitter. if you have weekend plans outside, if you're wondering

what to do, stay glued to those. when we see that hour by hour time lapse of what happened yesterday, it caught a lot of people off guard it's good if you have kids playing soccer games and things like that to check on airnow it tells you what the air quality index is in your area >> the big air show in new jersey, kids are trying to make it coming up, the meme king's new throne gamestop firing its ceo and appointing ryan cohen as executive chairman effective immediately. the stock down 17% on the news today. "power lunch" has more when we come back. ll you how they could be more efficient? i'm listening. well, with ibm, you can use software to help you connect and analyze data— from hvacs to elevators to lights. what if we use ai-driven insights to pinpoint inefficiency? yep. and act on it. saving energy, money... ... and emissions. yup. that's a big one.

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documentary on ryan cohen. she is here with steve kovac nice to have you both to explain the move and why do you think they went in this direction? >> it's almost not surprising. they had five ceos in the past in the past five years

all of them have left. this is a company that's been in real chaos in turnover ever since he took over he tends to run things as if he owns the place because he's so used to being the boss he started chewy sold it for $3.35 billion. at the time, the biggest e-commerce transaction to that time so, he is an entrepreneurial genius some would say. >> how many shares does he hold in gamestop? >> the biggest at 10%. >> he doesn't own it but certainly is influential >> yes >> you said he runs it like he owns it. >> he is the effective ceo now with this change >> yes >> what do people in the video game world -- maybe this is too

niche of a question to ask, gamestop said they were trying to shake things up with nfts >> yeah. this is last fall's earnings call, from furlong, the fired ceo. he said the launch of our nft marketplace supports gamestop's pursuit of long-term growth in the cryptocurrency, nft and the web three gaming verticals i don't understand what that means. they launched this nft platform in june or july of last year it has not taken off yesterday, in their 10q filing they said it was nonmaterial this was supposed to save the company. this was supposed to turn the company around basically what happened was if you go to the website of their nft, it's just junk. there's no real ip there >> wasn't that itself a ryan cohen idea wasn't he us the one who was supposed to come in with these

new ways of doing business >> back then when you mentioned nft as part of a business, you gained a percentage in stock but if you look at what changed for gamestop since ryan cohen took over, not that much they have more cash on the balance sheet, a more profitable quarter, but they have revenue declines, cost-cutting almost every single line has been in a decline except for hardware this quarter. the only reason this is up some people say is because of supply chain issues >> the losses narrowed but that's probably because of cost cutting not because they were making more money. >> labor costs came down, but that only gets you so much then what happens. it's still mostly a hardware-focused business. >> are its days as a meme stock over >> that's hard to say. look at the reaction to shares yesterday just on one thing.

also, in the run-up to earnings, it was up 5%, 6% before the markets closed it trades like that before earnings there's a meminess to it i don't know if you agree. but yeah back to the gaming point i know we've been talking about this since the meme craze started, the video game industry is moving more and more towards subscription, streaming and downloads. you don't go to a physical retailer for that. the nf it was supposed to help them offset that and focus on collectibles, but it's not working. >> it's blockbuster in the era of netflix >> yeah. i think that what ryan cohen with chewy, you couldn't download bags of dog food. there's certain things you could do and how to get that product to the consumer. here there's a fundamental change in the industry, you don't have to have that

cartridge or whatever, a disc, you don't need that piece of plastic. >> is the meme king going to lose his crown is it gone already i can't help but wonder when i look at bed bath & beyond, gamestop, which is sputtering, his involvement has made things worse, not better, you wonder are think fans or followers going to feel betrayed >> you will find plenty of people who call him papa cohen on reddit. there's big fans still of ryan cohen. i think the tide changed a bit after he sold out of his bed bath & beyond stake. that's when people started thinking were we just the victim of a rug pull here did you lead us into it and we're left holding the bag it's a little bit mixed in terms of his legacy as an activist investor as an entrepreneur, yes, he was brilliant. as an activist investor, he has not yet found success. >> no color yesterday on what his plan is moving forward the nft thing has not worked

out. they canceled their earnings call >> he just tweeted, not for long >> thank you quick programming note, the making of the meme king, the new cnbc documentary that profiling ryan cohen's rise to fame will air tomorrow night at 8:00 p.m. eastern. it's available any time. >> any time. any time you want it >> melissa, thank you. ahead on the program, calling in technical support we'll look at a screen of stocks showing signs they could break out higher and then have our technician chart them out. we'll be right back. more "power lunch" coming right up ♪ this rental car is so boring to drive.

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welcome back to "power lunch. bond yields falling today after jobless claims came in higher than expected. let's go to rick santelli. rick >> yes 261,000, a 19-month high look at the twos and tens chart. they dropped quickly today we have a special guest, jerome schneider of pimco. let's get right into it. you saw the data this morning.

you saw the market move. give me your impression. what caught my eye is we dipped below 50% on that move >> yeah. we're undulating between the expectations of realtime data and things will stay stickier for longer what we're thinking about is the fact that we're dealing with the long-term challenges of the economy, the forecast of a likely recession, coupled with an evolving economic landscape profitables are in question and systemic liquidity will be in flux >> correct me if i'm wrong, these are topics we've been talking about a lot. really, it's refocused due to the bill bond. t bills. how many t bills will be falling from janet yellen? >> 1.1 trillion. >> where will it come from. >> in reality, we'll see the digestion this week has been pretty well digested >> super well. >> we have issuance of the curve and other things to consider

over time the fundamental question is how do we digest these t bills, money market funds are robust, but this is a drain on liquidity we'll have excess reserves decrease when you look out the time schedule, we have to think about where this liquidity goes. there's a crowding out effect for cash >> correct me if i'm wrong, that -- 1.5 trillion is a lot of t bills. has there been anything going on the last three weeks that has not involved this conversation by market players? have we taken the sting out of it >> the sting is that we've been doing very well at communicating, so the shock effect is gone the ongoing effect of how it will be digested is the big factor we see bank effects, funding with banks, there will be a

rationalization of bank funding. >> the market knows that now next week, you have the bills you're talking about qt resumption, cpi coming out, the fed meeting and vix at a 3 1/2 year low >> right the vix is a very large sounding point. it's a bit sanguine. we need to be preparing for more volatility in the market >> what about money supply >> money supply. just liquidity in general. portfolios, clients need to think about how to utilize a diversified portfolio to manage volatility >> real quickly. 30 seconds left. negative 0.1% q3 and q4. the european union i think is in a recession. your thoughts?

>> the volatility that will be persistent throughout the global marketplace. we have to be prepared for that by being balanced. >> jerome, you want to be cautious but it doesn't mean you can't plan what you're going to trade and trade your plan. >> exactly be cautious, but also understand that in this world of lower volatility, recognize the fact there's a lot of income out there and utilize that as the counter balance to risk assets >> jerome schneider of pimco, thank you. kelly, tyler, back to you. >> let's get to oil on a volatile day with a lot of news and rumors >> it was a roller coaster day earlier today it fell more than 4%, that was on a report saying that iran and the u.s. would nearing a nuclear deal that would have iran limit uranium enri enrichment, and then reuters said the white house called that

report false you could see oil take a tumble when that report came out and then it made its way higher before the white house called it false given people had skepticism around that one source said she thought the talks were happening but she was skeptical there was any deal going on iranian oil is still on the market, so, even if it before to happen, it wouldn't be all that much new oil coming to the market what's more interesting here, today's drop was larger than the gain we saw after saudi arabia announced the 1 million barrel per day surprise cut it does show the market is very, very bearish here and that it really is more skewed to the down side. >> who buys iranian oil? >> it's on the market and in shadow fleets. if a deal came to fruition, that information would have to come out there and that could limit profits for people operating on

the shadow market. >> pippa, thank you very much. let's get to contest is a brewer now for a cnbc news update as unhealthy air from wildfires in canada billows into the united states, new york's governor is echoing a warning that there's no need for millions of americans threatened by the smoke to be outside right now. the governor spoke to cnbc about the dangerous conditions >> there's no reason unless you absolutely have to be to be outdoors we're telling workers, highway workers and others who work on the roads and bridges, get indoors. peoplenew yorkers are not used to this >> the vatican says pope francis is in good condition following his abdominal surgery. he underwent the three-hour operation yesterday to repair a he hernia a new measure in louisiana

would require parents to sign off before minors could sign up for new social media accounts. the u.s. surgeon general has issued a warning about the harm social media poses for young people of course -- tyler, you would know this, the kids don't even ask for permission, right? they do it if their parents don't approve. >> yes, they do. they find a way. we've all been teens remember that? >> that was a long time ago. >> kelly we found ways. >> they better not be anything like i was >> to get around parental restrictions >> it's coming full circle >> yes, it is. ahead on "power lunch," the clash in corporate america over return to office google's hr chief telling employees they're cracking down on attendance. have conditions in the office improved for workers compared with pre-pandemic? can it lure them back? 'ldiuss.

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welcome back the battle over return to office flaring up on some new fronts

this week. martha stewart says america will go down the drain if remote work continues. chipotle calls its corporate employees back four days a week. farmers insurance changing its remote work policies and this today from cnbc, google to crack down on office attendance asking remote workers to reconsider. jennifer elias wrote that piece. she joins us now cracking down on office attendance is this monitoring damages what were those people called, the hall monitor >> exactly basically they're going to be monitoring badge data and see, you know, if employees in aggregate are actually coming into the office. also as of yesterday we reported the chief people office ordering basically for these to be included in people's performance reviews as well. now your office attendance and whether you're adhering to the schedule will be considered in their performance reviews.

she also encouraged employees who are already approved for remote work to reconsider and to come back into the office. this is definitely the most stringent ask to ask employees to come back to the office >> what are the expectations >> right now, it's hybrid work for them that means three days a week at minimum in physical offices. then they have, you know, the additional two days to work from wherever they want the company is doubling down on having employees come in i think they've been able to be flexible up until this point now they're definitely kind of trying to say, no, you need to come in three days a week. >> they want you to be there all day on those three days or could you come in for a couple hours and say i'm checked in, my badge has been read, i'm out of here >> for the most part, they expect them to be butts in seats for the whole day. every team and business organization is different. yeah for the most part, it's like we

want you in here we want you doing the work with your employees they've also been having some issues with leaks and they're in a competitive place right now with ai. i think that's also part of why they're asking some employees to be more strict >> jennifer, thank you appreciate it. >> thank you all right. there could be some advantages to coming into the office. a new cnbc survey monkey poll shows the percentage of workers who believe in-person employees will enjoy better career opportunities keeps rising sharon epperson joins us now so if i come in, i might get higher in the corporation? >> a number of people are saying that this cnbc survey polled nearly 9,000 workers. 56% say in-person workers will have the opportunity to advance further in their careers than workers who are hybrid or fully remote that's nearly 10% higher than in october of 2021.

now, the majority of respondents are already working fully in person there are some key differences in their answers among age, gender and race. workers in their mid 20s to mid 30s are least likely to see a career benefit working in person more than half of younger employees and those 35 and older believe in-person work is an advantage. women are much less likely than men to believe in-person work has a better impact on career advancement. and a far higher percentage of white employees than blacks, hispanics and asians believe in-person workers will have better outcomes than those working remotely higher-paid employees are far more likely than workers who make $50,000 or less to say there's a career advantage to working in person. you can go to cnbc.com for more survey results >> so many things to talkabout here for younger workers, being in

the office is huge for your career for older workers, it's important for society to raise the fertility rate we have to make a decision -- i don't know if martha stewart has kids, does she >> i don't know. i thought it was important that the least likely were in the 25 to 35-year-old category to see advancements that's what you're saying, what you have to ask yourself at different ages >> i wonder if this is being painted with a broad brush when the situation varies so much so many people in that 30s cohort moved so far away from their offices during the pandemic it's a reality there will be further disruption because people's lives are so set by this. just want to mention the introduction of ai in the middle of all this. does that make a further onus kind of against the worker or to the idea of come back into the office and improve your productive or could it help your productivity at home

>> far more people said they could see ai help them in their career if they're working in person than the ones who said remotely they said it wasn't necessary, but it could help them in their career they're seeing in the office, i think, an opportunity to use ai on the jobs. >> what would each of you say if you were asked that same question, would you get further in your career if you're an in-person worker or remote what would you say >> further in my career in-person but i might not have a career if i were in person all the time >> i would say in-person, more opportunities, but ours, not all day, not five days aweek -- >> not necessarily five days a week i agree. i think there is no subs titute for being there. 90% of it is showing up. you have to show up. >> if you don't, because there's some that are managing teams abroad, they may not be able to be there to see one another.

you have to see them at least during a virtual meeting, something not about the business initiative something social, something lighter. >> does it have to be five days -- >> yeah. >> just be creative. >> be creative >> sharon, thanks. >> employees are creative. >> exactly >> if you want us to be -- >> goes both ways. we're monitoring air quality alerts up and down the east coast as the wildfire haze spreads. check out this view from the reagan national airport in d.c as we head to break, june is pride month, cnbc is celebrating all month long sharing stories of corporate leaders you know, the definition of the word pride is consciousness of one's own dignity i think this annual event

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checking the markets, all the major averages are near session highs. dow up 179 s&p is 7 points shy of 4300. shares of amazon are rising after wells fargo initiates coverage with overweight and a price target up 35 bucks from here the analysts say fulfillment centers are paying off in efficiency and affirm shares are rallying after amazon announced they'll add the buy now pay now later to amazon pay jon fortt asked max levchin about that move. here's what levchin had to say >> one more step towards making the product more ubiquitous. digital wallets are accelerating we expect commerce to be done through digital wallets. being in the leading ones is

important to our mission of bringing honest financial products to all consumers. this is one major step towards that very excited about it. >> you can catch the rest of that interview today at 4:00 p.m. still ahead, we asked our technician to check the charts and tell us which names he thinks are poised for a breakout 'ldo breakwn wel get technical support when "power lunch" returns. a powerhouse lotion that moisturizes, heals, and smooths dry skin. with 7 moisturizers and 3 vitamins, you can pay more but you can't get more. gold bond. champion your skin.

cnbc pro out with a new screener laying out a list of stocks that say they could be about to break out these are s&p 500 stocks that have 50-day moving averages about to break above their respective 200-day averages. that's a bullish momentum signal for these names. with all these strong technical signals, we thought we could use technical supports we will bring in dan fitzpatrick with stockmarketmentor.com welcome. good to have you in-house with us let's start with one of these stocks, ball corp. a lot of us are familiar with ball corp, but we're not familiar with the chart. >> it's interesting on this one, you can see the -- what i call

the gap in crap pattern. >> gap in -- >> the gap in crap or the dump and jump they reported earnings that were -- they said we expect it to be really, really bad, instead it was just stock ran fell backdown to like a 17% decline. >> well, then it gained back >> yeah, what that means is folks are looking at the earnings and they're going, oh, that's great they buy the stock and then they turn around and they sell the stock back down because they realize, well, that was a mistake. so this is a stock that's really still under distribution even though the 50 and the 200 day are trending sideways, that's not really a bullish signal that means the stock is dead >> there's a general precept or principal, gap and crap is to be avoided, right >> yes

that's a technical term that i just made up. >> let's see how that applies. that's a sell for you. what about sherwin-williams? >> it's funny. the technicals are about the same, but the chart is very, very different here you've got this inverse head and shoulders, which i'm highlighting in yes, ma'am low inverse head and shoulders which signifies a down at that turns, and the volatility gets really low and then finally it exploded this is 50 and 200 day crossovers in this one the stock jumps out and it doesn't pull over this is a gap. well, here i am. how do you like me this is a stock going higher definitely longer term as a trader maybe you want to wait a couple days and see if it pulls back.

i like this as much as i don't like ball. >> it's that little tail of white that we see on the screen is the telltale, right >> yeah. that's right just this little thing -- >> that little thing that you erased or drew over. >> yeah. it's that little -- >> this little thing right there. >> yes i've got it. let's move on to carmax. this one you're bullish on as well pretty similar with the 50 and the 200 day crossover. again, the fundamentals are just kind of so-so. they're not that great when you think of it with the used car market which is what they do their margins are super, super skinny car prices are getting up. people are not selling their homes because they can't afford the new ones same thing here. so this had a nice breakout right from the 50 and the 200 crossover. again, it's moving higher. you can see the volume

the volume's also going higher as well. this is a stock that's under accumulation frankly, i think the industry's a really bad one to be in. when things look the worst, a lot of times that's when the stock starts to run. i think that's when it's going to happen. carmax and sherwin-williams are stocks you want to buy if you're patient and want them long term. >> what are the volume spikes i see in january '23, june '23 >> sure. these are -- it's the stock's response to earnings >> yes. >> that's a really good question because when earnings -- it doesn't matter what earnings really are if earnings are really bad but they're less bad, you'll see that because the stock will jump it's not that bad, i've got to buy the stock. on the other hand, if earnings are really good, the stock jumps and it sells off, it tells you what the market is expecting you've got to pay attention, not

just to what the stock does in response to earnings but what it does afterwards. you look at the follow through if the stock follows through, the move is real if it doesn't follow through and it reverses, that's the gap and crap. >> you've made it very clear and colorful dan fitzpatrick. thank you. >> thank you, tyler. those were three of the names but you can get the full list of companies that met the screener at cnbc.com/pro. the geopolitical threat from china is reportedly coming much closer corporate bankruptcy -- it's nearly closing time when power lunch returns. s chain, easy-to-use tools and paper trading to help sharpen your skills,

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welcome back, everybody. three more minutes left in the show starting with "the wall street journal" reporting that china has reached an agreement with cuba to set up a spy base in havana the so-called eavesdropping facility would allow beijing to monitor electronic communications throughout the south eats united states officials familiar with the deal told the journal china will pay cuba $7 billion for the right to build a facility we spoke with the senator last

hour, tyler, who said in a way this kind of eavesdropping activity is going on, while he's concerned, it's going on all the time and emphasized we need to be proactive about all of it eye -- i presumed. >> for what it's worth, john kirby for the national security council, did tell reuters we have seen the report and it's not accurate this remains a wall street journal story. it's t"the wall street journal" and given the history there, i don't think they would run a story like this. >> no. the to say something is not accurate doesn't mean the whole thing is meritless. >> for sure. >> there may be quibbles with parts of it. rising rates of inflation coupled with the ecommerce boom pushing several corporate bankruptcies overall the highest level since the

great recession a decade and a half ago new data showed this year 2 86 so far consumer discretionary firms leading the way with 37 of those. party city, mattress maker bed, bath & beyond among them. it shows the vulnerability and the thin margins that these businesses are operating on, particularly as their costs of goods sold rise. >> yes i think the people -- you know -- >> and rents go up. >> rents there's a lot of factors we focus on the publicly needed rage it goes back from everything from stock selection, are with you want to be in the stock selection. >> and another big move in golf. a team golf league is getting its first team owners. alexis ohanian and serena and

venus williams are purchasing in the tgl. no one knows how this will affect it, tyler what an incredibly busy week for golf. >> team golf feels like it has something coming >> team golf. >> folks, thanks for watching "power lunch" on a smoggy, foggy friday >> "closing bell" starts right now. thanks so much i'm scott wapner this makes or break hour begins with another run at 4300 at the s&p and whether the bulls are now fully in control of this market we'll ask noted bear that question in the meantime, here's your scorecard with 60 minutes to go in regulation. the dow nicely higher today. you can see the stocks, health care one of the better sectors overall today. pretty good bounce back for tech after the nasdaq suffers one of its wors