sa saying they're selling compounded versions of ozempic >> everyone is trying to get their hands on them. i'll be away for a few days. >> i'll miss you. >> i'll be back. >> "closing bell" starts right now. welcome to "closing bell." i'm scott wapner at the new york stock exchange we have a big interview coming up i'll go one-on-one with eric johnson, one of the biggest bears on the street. he says stocks are going lower we look forward to that conversation. we begin with the head hawk on the hill. fed chair jay powell saying two more rate hikes are likely stocks are trying to avoid a

third straight day of losses they're doing a pretty good job of it at this hour here's your score card with 60 to go in regulation. the dow in the red for most of the day. it was dragged by tech names like intel and salesforce. the mega caps weaker too which is weighing on the nasdaq today. leads us to the talk of the tape whether the bulls can remain in charge with the fed intent on hiking even more let's ask josh brown he's a cnbc contributor. he's right here at post nine >> post nine rules. >> powell was on message his message of last week. >> no surprises. >> what do we do now with what he had to say? he said it could be two more hikes. >> every day is an opportunity to make sure you don't react powell is going to speak tomorrow again i doubt it will differ

this looks like it was in the realm of expectations. nobody is shocked by the news. even if they were, look back at the last six months and every, quote, unquote, fed speech shocker has been a great buying opportunity. i don't think the fed has the opportunity to scare markets lower with what it wants to do with overnight rates, especially when you consider the way we're seeing, number one, economic data on the upside number two, the intermediate term and long-term rates are not moving on what the fed says. the market understands the balance of 2023 may not be super red hot, may not be ice cold, maybe right down the middle. in that environment american corporations have demonstrated they have enough levers to pull to deliver earnings at least meeting expectations if not exceeding. that's the bigger story this

year, not what happens with the fed. >> feels like the bulls are starting to come out of the woodwork the most bullish position in at least ten years. henry mcvay, the time to be negative was the end of 2021 others talking about fomo, more room to run. do the bulls have control of this market now? >> i think they do because the things that you would be expecting to see, if the bears were going to take control, just haven't materialize yet. they could i would never tell you something can't happen in the economy. what are the things people are focussed on? well, the number one thing is how is the consumer doing. we know the consumer has somewhat downshifted, but the household balance sheet of the consumer is not an issue

after 525 basis points of rate hikes, you would have thought those chickens would have come home to roost. then you look at what's going on and recognize the biggest category of consume debt by far is the mortgage. it's like 10x the next highest thing, which is student loans. there are no student loans now. >> payment are coming back soon. >> might right now, no issue credit card debt a trillion, mortgage debt is 12. 60% of all households have a mortgage under 5%. they all refinanced. where is the credit issue that was supposed to arise as the fed took rates higher? where are we seeing the, quote, unquote, cracks in the consumer? they don't exist i don't want to give people the impression it can't get worse. we've had a lot of tightening. we're still shrinking the

balance sheet, but at least, like, wait to see some evidence of that case materializing >> the number one knock from the bears throughout the beginning art of this year was the rally is top heavy it's being carried by the magnificent seven and now we have a magnificent seven index to track the stocks. i look at right now month to date -- this is from sectors industrials up 8.5%. materials up 8%. financials up 5% my point is that a big part of the argument from the bears seems to be falling by the wayside. this market is becoming more broad -- >> they're not talking about it anymore. i get it i would stop talking about it too. the new york stock exchange climb line looks great there's no bull market you could look at where you didn't have

some followthrough from the a.d. line it took a while, but we got it again, we've got a situation now -- i love this tape. you don't have to be in tech to make money let's look at a day like today tech was cooling off what's the best sector an area of the market that's been in a slumber for a long time, energy let's look at what's going on. the semis are taking a breather. intel down 4%. amd down 5%. nvidia up 2% 95% of the names are above their 200-day moving average almost 100% of the index was there a week ago it's cooling off that's great what happens are people running money market funds? they're not. they're taking a second look at a sector and energy's having an up 1% day and crude oil is at 72 and the high is 75 from may

before energy came in. we might take that to the upside and get energy participation in this bull market you can't tell me it's seven stocks if all of a sudden all those start moving by the way, 0% of the xle components are at highs. there's plenty of room and plenty of opportunities. when i say i love this tape, it's not that i think it goes higher, it's just there are opportunities everywhere you look you can talk about housing you can talk about energy. you can talk about communications there's different ways that different styles of investing are working this year. >> you're still getting big inflows too. bank of america says the biggest since october driven by hedge funds and institutions the money's going to where the

money's been made. people think the money's going to be made in the biggest sector of the market. >> think back to one of the inside jokes in the january to april period any time the market did something crazy, you would say why is it up oh, it's just positioning. it's true. the positioning was as bearish as we had ever seen historically going back decades, coming into this year and the beginning of the year there were good reasons for that that has to get unwound if the story of a second half recession is not going to materialize. when you see flows like that, it's not just people making fundamental decisions. it's sometimes professionals making career survival decisions and doing things for reasons other than what you would think. unwinding bearish bets, getting more exposure in a market where the nasdaq is up 38% year to

date, the best start for the nasdaq ever in the first six months what are you going to do if you're managing money for other people you have to answer to it's not shocking to see us enter the end of the second half of the year with money chasing what's taken place. >> sure, but you perhaps have a knee-knocker market from those people who see nasdaq up 38% like i got to get more invested. my positioning has been offsides, but do i want to put money into stocks that seem to be overbought? look at rsi. that tells you whether sections of the market are overbought. >> i'm glad you said that. that's why i love this tape. for every underweight professional investor who looks at what's gone on and says, look, no way i'm buying apple up here there's a lot. that's why you catch a bid in the transports, catch a bid in the housing names.

i think oil is next. catch a bid there. there are big liquid stocks in these other sectors that professional money managers they can play in those stocks without moving them too much as they try to put positions on. that's the opportunity this is really important i want to get this across. we've done five or six blog posts about this one of the things the bears will always say during the early stages of a rally is there's not enough participation this is like a trope they're right statistically. the thing is, over the last ten years, if you have used that evidence in order to concoct a reason to fade the rally, you've mostly lost most of the time that di vdivergance is to the

upside it happens every single time over the last ten years. there's very few examples where that preceded a meaningful fall. there are some most of the time it resolves to the upside sometimes it resolves nicely. >> what makes you nervous? is it a fed that's more aggressive than we think or they say? is it the next cpi doesn't cooperate? is it earnings which aren't that far away is it the beginning of a disappointing period is it like mike wilson says, it's when not if >> mike wilson said a lot of the, quote, unquote, revenue growth has been a result of companies getting away with price increases. that's good for the economy. we don't want 4, 5, 6% cpi

readings it's good for main street and sentiment. where it's negative is in the earnings expectations, especially on the cyclical side of the market. if in fact that price increase mechanism is going in reverse and price cutting and discounting and clearing out the inventory, if that's coming next, which it sounds like mike wilson when he's looking at pmis that's what he's seeing, that might be a negative shock to revenue and then earnings expectations maybe not in q3 or q4. >> he's making the argument that people are underestimating the amount of ai spend that the ai leaders -- >> over or under >> they're underestimating the amount of these companies are going to have to spend and that's going to hit margins. that's part of his note this week too everybody is focussed on the hype and sizzle. the amount of money you need to

develop -- >> is ai a growth center or -- >> it's both >> it almost doesn't matter because the earnings growth and the weight of earnings welcome back the s&p is concentrated among company that is are going to find a way to make money selling ai solutions like microsoft, apple, alphabet, nvidia these are the big wheels i get the premise. the other thing is i think the market would be okay if companies were getting aggressive and spending on r and d, on growth if they back it up with revenue growth. the crux of his main argument, which is that the economic slowdown is going to be the thing that makes earnings estimates unattainable, that's the thing worth worrying about again, outside of looking at year over year pmis, there's not

a ton of evidence that's going to necessarily bare out. >> ready to broaden the conversation >> why don't we? >> let's bring in jessica. nice to see you. educate us on your market view on the here and now. >> sure. i agree with you, josh, so very much i think it is important to pay attention to the operating costs that will come in with implementing ai. that's something that will come to fruition. it may not take -- even though you're increasing the operational efficiency, you may need see that transfer into earnings this is the next quarter that's something to be concerned of what i'm paying attention to is the labor market, especially listening to powell today. we have been talking about labor market and balance and recognizing ai and automation as a solution to that imbalance

just looking for cooling or that gap to really narrow these connections, i think that's important to take note of where that's coming from quit rate is on par with precovid levels. participation facing resistance. what we see participation levels are aon par precovid level. that's prime age working groups. there's a shortfall from 55 plus if we're looking for the uptick in unemployment or any regression within the labor market, unless there's a larger influx of immigration, i see that as being a headwind i want to be cognizant of. >> the fed seems to underestimate the durability of the labor market that's a great understatement. by virtue of where the unemployment rate remains and

the fact that they haven't been able to crack it to any degree let me ask you this, do you feel like right now the market is vulnerable or strengthening? >> there's growth, but i think it's now turning into v vulner vulnerability. there was strength because we had lower earnings cuts. now we're raising earning expectations we have higher participation people are going to spend money. now there's shareholder pressure for that spending. so that's going to take a hit to margins. now the pricing pressure and pricing power that larger corporations were able to have, that's vulnerable at this point. we've had a selective consumer we've heard that it's a resilient consumer, but selective nonetheless. they're spending on trafvel. if you look at different income levels, there's disparities

there. that's means for vulnerability. >> what do you think about that? >> you'll have to see a meaningful uptick in delinquencies in auto loans and credit cards we've seen some upticks off the lows the government stimulus programs were a long time ago it's not showing up in such a way that you would change your expectations for how the second half goes. very, very difficult to a manufacturer to talk about slow down with 3.5% unemployment. one area where the fed has had an impact, it's very significant. the jolts is cooling off this game where i quit my job and get a new job for a 15% raise. that game is over. you're not seeing it you're not seeing the headlines that we're reading about

layoffs, whether google or goldman sachs. you're not seeing that in the bigger numbers, which speaks to the economy. >> also, because the companies that appear to be the most bloated have self-corrected. they found the efficiency and have done the dirty work before the fed has to weigh on them. >> the tech recession started last year. venture capital started last year there was a ripple effect. smaller companies were told to baton down the hatches here's where we are. it's already over a year of that cost cutting. >> we'll leave it there. josh, thank you. >> my pleasure. >> jessica, we'll see you soon. let's get to our twitter question of the day. we want to know how many more hikes are coming from the fed? one, two, more, none

head to twitter to vote. let's get a check on top stocks as we head into the close. kristina partsinevelos is here kristina >> reporter: i want to talk about madison square garden entertainment. it's in negative territory as sphere entertainment plans to sell off on the stock. madison square garden said it will purchase $25 million of that offering from sphere. it's only a small portion of the second half. shares down almost 11% peloton under pressure as wolf down grades the stock. analysts say they lack confidence in the pricing power, strategic initiatives and demand shares down over 7%. scott, you have a bike >> i do not. >> reporter: me neither. cool >> got the treadmill. >> reporter: you fancy we're just getting started

up next doubling down on the bear case. cantor's eric johnston is back he'll join me and makes his case next you're watching "closing bell" on cnbc. g me a million different ways i should be trading. look! what's up my trade dogs? you should be listening to me. you want to be rich like me? you want to trust me on this one. [inaudible] wow! yeah! it's time to take control of your investing education. cut through the noise with best-in-class education resources that match your preferred style of learning. learn your way. not theirs. td ameritrade. where smart investors get smarter℠.

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welcome back >> thanks for having me. >> i've given you this platform repeatedly to make your case that the market was in a bad place, that stocks were going to go down sharply. you repeatedly said your conviction was very high it hasn't materialized we're up more than 20% off the low. why are you still bearish? >> to be fair we resumed our bearish view at 3,950. we've been wrong, but that's in the context of being bullish from june of '20 we called the top in january of '22. >> let's talk about the here and now. >> then we called the bottom. >> these are calls you made repeatedly >> we've been wrong so far i firmly believe that this market still has material downside to it and that owning equities is a very poor risk/reward right now. >> why >> let's talk about a few different things number one is the market is

trading at 19 1/2 times earnings if you look back the past 50, 60 years the multiple was higher during the internet bubble and the covid bubble are we ripe to go into another bubble i don't think we are based on where inflation is and where rates are. the second point is where we are in the economy we're at full employment prior bull markets have been declining employment where you start a bull market in 2010, the unemployment rate is 10% you can add jobs to the economy and grow the economy same thing happened in the late '90s you were adding jobs you have not seen bull markets start with full employment we've been below 4% unemployment four times in the last 75 years. each of those ended in a recession. why? you need a cleansing of the economy to start the next cycle. >> as i said to josh, maybe the

cleansing happened in the most bloated areas of the economy, the tech economy that's number one. maybe the labor market is just different on the back side of the pandemic in ways that you, others who have been negative, and even, dare i say, the fed itself have been hable to understand. >> that's a good point it's possible we could stay at full employment for a much longer period of time than i think and that others think. i think if that happens, we're going to have subpar economic growth the reason is simple ultimately economy needs to grow or decline based on jobs you add jobs, the economy grows. it's possible we could stay at this 7.7% rate for a while growth is going to be subdued and not warrant a 19 multiple when you can have a money market

at 5.25% rates will stay where they are in that scenario. >> not if inflation continues to decelerate obviously the fed is going to move rates lower they're not going to keep the terminal rate at 5.25 or 5.5 forever. >> there's an argument to be made that if the s&p is at 4,400 and the unemployment is at 4% inflation is not going to come down to a reasonable level it might take six months to get there. the point is that, when you have full employment, inflation is going to stay sticky especially with asset prices where they are. >> did you think the economy would be weaker at this point than it is >> absolutely. >> did you think the labor market would be weaker than it is >> absolutely. >> what are we missing >> here's the big thing, we have

a $2 trillion budget deficit that is a $2 trillion annual stimulus package that we have that is equally offsetting the monetary policy we've had in place. i've been shocked that powell hasn't talked about this more. that's a massive offset. looking like the deficit will be $2 trillion this year. you pay a dollar in taxes the economic gets $1.50 back the second thing is the liquidity flows. the fed is in qt however, the bank of japan six months ago was growing their balance sheet. the liquidity flows have increased by a trillion since the october lows in the market those have been tailwinds for the economy and for multiples that have been there we think the liquidity flows are

going to infliect. >> what about the market coming back into balance by virtue of sectors that were laggards and are now showing their weight, showing some muscle for the first time >> so in fairness, that was not mine i'm not a big believer that being top heavy is a negative. what i would say about those at the top is that we've got apple trading at 31 times earnings, right? they're growing their revenue at zero there's all sorts of speculations out there about why apple should be at 31 times. people assign a story to price and that comes back to haunt them apple could go to 35 times earnings it's possible.

ultimately it comes down to you have to do your analysis, take price, momentum and all that into consideration you can't let price dictate your views. it has to be one small component. >> what has to happen for you to say, you know what, i've seen enough i misjudged certain things that i thought were going to happen i've gotten some great calls made over the last however many periods of time that i've been making these market calls, but this time it's time to move on what has to happen for that to happen >> i need a cleansing of the economy. until we get a chleansing, the unemployment rate going 4, 4.5% or the multiple coming down to 18, 17, 16, until we see something like that, paying these prices for equities i think is going to be a bad investment and i think from a trade perspective, which i'm very focussed on, i think right now the technicals and the

momentum is very strong in the market from a short-term perspective, i don't know where the next 2 to 3% is, but i think the next 10% or more is down. >> do you feel like you're fighting the bulls in a way you haven't had to in a long time? >> yes i mean, there's tremendous momentum there's people capitulating. that's one of the big things that's changed positioning and sentiment is significantly different than it's been in the last year and a half that's a major tailwind for our view, right? now hedge funds have increased exposures. ctas are max positioning strategists are capitulating and throwing in the towel. i think that, when you see a lot of the changes that people are making in their views, it's very focussed on price, momentum and i can't take this anymore rather than an actual bullish view on the market that gives us solace that we think we're going to be right.

>> make that the last word thank you. >> thanks, scott >> eric johnston from cantor. coming up, a long way today, that's what jay powell said about the inflation situations cme ceo terry duffy joins me with his take next nk. this is cynthia suarez, cfo of go-go foodco., an online food delivery service. business was steady, until... gogo-foodco. go check it out. whaatt?! overnight, users tripled. 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.

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s&p falling for a third day as the market rally loses some steam. my next guest says uncertainty around rising interest rates has led to more uncertainty. let's welcome terry duffy. good to see you. >> thanks, scott >> what's your take on what the fed chair has been saying including today, leading us to believe there may be not one rate hike to come this year, but two? >> you know, scott, i've been critical over the years and said

this to you many years ago i thought the fed missed many opportunities to take the advantage of tightening rates throughout the last several years. then we did it all at once i have to be honest. i didn't see the markets reacting the way they have, especially with all these tightenings over the last year i agree with josh. i think the fed has done an amazing job in the last 14 months by taking it up 500 basis points and the equity market is still continuing to rally. a lot of people didn't believe that would happen. maybe i was one as well. all in all, seems like the fed is going to continue on its path i think it's a good thing and it benefits us at cme group. >> do you feel like you want to manage your risk even more because you've been somewhat

surprised by the durability and stability and strength of the market rally >> it's a great question, scott. just listen to some of your guests, especially the last one. you have a big bear and big bull come on. there's a disparagement of opinions out there about what the market thinks people might do whether it's the first half of '23 where people seem to be wrong or the second half of '23. there's no question. people need to manage their risk because no one knows for sure, but we know one thing, scott there's a tremendous amount of uncertainty up and down the asset classes from energy to commodities and that's blglobal it's not just the u.s. you have to be vigilant. margins are things we saw what happened with silicon valley bank by not

managing risks i hope there's lessons learned from that. managing risk is critical to the growth of any organization. >> why do you think we've hung in there the way we have, terry? i'm sure you must get asked that question how have we stayed so strong >> i do, scott i try to avoid it because of what i do. i manage the risk. like i said at the outset, when you look, people were so paranoid of any interest rate hike whatsoever and if we couldn't have free money, then the markets couldn't go up i never subscribed to that i don't think you have to have interest rates at zero to equity to go up i think the market has finally realized it. that's one of the main reasons why the market has continued to impress even the biggest bears. >> i would love to get your opinion on something that howard

ludnick had to say in the "new york times." for those who have not seen it,% he seemed to be taking a pretty good shot at you guys in terms of the strangle hold he thinks you have on the treasury futures trading market calling it one of the great monopolies in america. he obviously wants to shake that up with a rival market place how would you respond? >> complete inaccurate in order to have a monopoly you can't have competition scott, as you well know, there's many highly correlated products to the u.s. interest rate market around the world that compete with u.s. equities it's not a monopoly. it's a pool of liquidity that creates efficiencies in the most coast effective way. what he's proposing -- i've known howard for a lot of years -- is a me too strategy. me too strategies don't work

you need a value added proposition in order t'sot a mo. it's a very ignorant statement to say it's a monopoly you have to understand correlations among many different markets that compete with u.s. interest rate markets. your last guest works for howard and was talking about the japanese market. look at what's going on in the uk with the way the markets are trending over there. there's a high correlation, scott. people have alternatives when they have alternatives, it's not a monopoly. >> maybe we'll have to have you and howard on the program. >> i would love it he's a tough one, scott. he goes hard. >> our producers are hard at work terry, good to see you be well. >> all right, buddy. up next we're tracking the biggest movers as we head to the close. kristina partsinevelos is standing by. >> reporter: higher price items, higher wages, rebound stores,

the latest promises to turn around outdate dollar tree locations. the market likes it. will they make it happen we discuss next.

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15 to go before the closing bell kristina partsinevelos has the stocks he's watching.

>> reporter: i want to start with tesla barkley's raising its price by 40 bucks, saying the recent rally is driven by ai and ignores near-term problems with margins and demand they like tesla long term. shares down 5%. dollar tree is planning major upgrades to its stores with the ceo acknowledging the decor is out of 1975 they projected earnings of the $10 per share, which is above expectations the plan comes after the investor took a stake in the retailer two years ago the stock is off the highs of the day, but had its biggest swing since may of 2022. stock up 4.5%. last chance to weigh in on our twitter question we asked how many more hikes are coming from the fed? one, two, more than two or none.

head to twitter. the results after the break. at pgim we can help you rise to the challenges of today, when active investing and disciplined risk management are needed most. drawing on deep expertise across the world's public and private markets in pursuit of long-term returns... pgim. our investments shape tomorrow today.

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the results of our twitter question we asked how many more hikes are coming from the fed this year. the winner is two, taking jay powell at his word 41.6 at this moment. after the break kb home earnings, we'll take you inside the market zone. don't miss "china's corporate spy war" focusing on the risk u.s. companies face when they rely on china for their ppsuly chain revenues.

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power e*trade makes complex trading easier. react to fast-moving markets with dynamic charting and a futures ladder that lets you place, flatten, or reverse orders so you won't miss an opportunity. e*trade from morgan stanley we're in the "closing bell" market zone. cnbc commentator mike santoli here to break down the crucial movements of the trading day and kristina partsinevelos on intel. diana olick with kb home and its earnings i'm looking at nvidia. i want to start there. the stock got down to 420. it was part of the nvidia and tesla and some of these other

high fliers coming back down to earth. bid back up now at 432. >> the market doesn't act as if people feel overloaded with risks. you think that people should we came into this week and everything was in place to have at least the standard pullback it's still in place. the leadership in the market running red hot like nvidia and other names like that. seasonally last two weeks of june typically are up 25%. sentiment starting to get a little more optimistic if not overly so. it feels as if there's a latent bid. you see traction in the breadth numbers too. all that being said, it feels like a much more is-- now i fee

like people are trying to find a reason to warm up to the market. i don't think that's wrong i think there's room to go to where we were. you have to allow the market to relax is little bit, even if it happens through rotation >> josh brown's point and why he likes the tape, pointing to energy, which has been a laggard. leading today. it's one of those sectors that after doing nothing is actually showing some signs of life >> june has been a month where you've had people reaching for things that haven't participated it's been about mean reversion it could be that end of quarter let's rebalance and make sure we're not leaning too heavily in any one direction. don't think that means this is the magical all-in market we have been hoping for

i feel like it's a closer call in the near term there's an uptrend in place. you've built up a cushion. we've absorbed a 5% drop in semis. that's maybe we didn't think we could do a couple weeks ago. in fact, the rest of the market has managed to pick up the slack. >> that's the cue toa good cushn it's falling hard, down 6%t the. >> reporter: it has to do with their foundry meeting. nvidia is hosting their stock holder meeting tomorrow. that could be adding to this intel, you noticed the drop in the stock around 12:00 p.m. eastern. that's because their meeting with under way and focussed on their internal foundry model it would have its own profit and loss statement in 2024 also keep in mind the

relationship with the device the goal is for intel to be the second biggest foundry in the world and post cost savings of the roughly 8 to $10 billion by the end of 2025. intel said they'll sign up their first foundry customer by this year we didn't get any namiesnames. investors are the really loving that it will take time to sign up new customers. it drove intel lower, to your point, scott, but also amd which is down 5.5% even though amd is a fabulous chip maker. all news from intel is a step in the right direction it seems from street reaction it's an uphill battle for intel to regain leadership, especially because they want it to happen very quickly now. >> kristina, thank you kristina partsinevelos on what's happening in the chips as for what's happening in housing, diana olick, kb, what a

run. 42% for that stock in the last three months. >> reporter: the builders have been on a tear for sure. kb reported an update just after its last quarterly release that net orders were down 24% in the first two and a half weeks and gave an out look of orders down 14%. we saw an upside last week from lennar the existing homes are pushing more demand to builders. builder sentiment turned positive for the first time in a year a lot to digest. >> diana olick, thank you very much mike santoli, 90 seconds or less rates are moving higher. equities moving lower. >> rates are perking up a little

bit. the ten-year has remained still. people are looking at that 385 area we haven't broken above that housing fits into that we've seen buyers more or less -- mortgage rates around these levels for new home demand, maybe it doesn't make the inflation job easier, but it shows you the capacity for rolling downturns within the economy that doesn't strike all at once and sparing the overall economy from an outright recession. it feels like there's enough in terms of household balance sheet, demographic demand for housing and if housing's not on the down and oil hasn't done anything in the last year, those are usually the preconditions for a recession. among all the ones in place, those are not in place at least at the moment. >> you'll have the bell in a moment the dow is down triple digits,

act 100 points s&p 500 down near 24 looks like we'll have a finish here that's red across the board. yields looking green across the board. i'll see you tomorrow. i'll accepted it to "overtime" with morgan and john we will take it. a third straight day of losses for the major averages as tech stocks led the losses today. that's the score card on wall street the action is just getting starting welcome to "overtime." breaking earnings results from kb home giving us a window into housing as fed chair powell tells congress supply is getting back in line. we'll talk to mozelle thompson about news the ftc is going after amazon as what it calls a deceptiv