welcome to "power lunch" alongside kelly evans i'm jon fortt. coming up the nasdaq is about flat right now could be the fourth down day in a row or could break the negative streak. can tech stocks continue the rally as the fed is slowing the economy as a result. plus janet yellen wraps up her china trip with nothing productive is the prospects of more talks enough reason to be optimistic >> let's get a check on the markets where the dow is up 182, half a percent today, but the s&p up 5 and the nasdaq is down 4%

and keep an eye on carl icon trying to fight off a short sellper p-- seller. those shares are up 21% to $35 today. helen of troy also soaring after an earnings beat even though results were lower than last year a 17% pop here helping them stay positive on the year and kava is jumping today. they're bullish. morgan stanley says it can be the next chipotle. the shares up 10% today to 43.75 opening around 42, i believe let's talk about the market. mike santoli joining us with the latest at the new york stoks exchange hi, mike. >> it seems the set up right now requires both bulls and bears to decide what's different this time about that cycle. we know the cautionary word

about wall street history never say it's different this time but it's always different in some detail or perhaps the cadence of things if you're bullish right now, you're down playing or dismissing the history that says whenever you've gone down in the s&p 500, the markets never bottomed before the fed was done tightening you're also probably struggling off the fact the curve two to ten years out has been inverted for a year almost typically preceded by a length of time a recession on the other hand, and i think this is important. bears are ignoring the fact the s&p is up 25% over nine months that's way beyond in terms of time the duration of a bear market rally it's proving the points about getting above averages and the rest of it and the point about leading indicators i know you know about this the coincidence indicators what the economy is doing is at a

record every time you've been down this much in terms of leading indicators you've been in a recession. maybe there's something going on with the labor market being sticky with earnings being sticky relative to the past in terms of earnings powered because estimates are starting to bottom out at this point, kelly. >> this is getting weird we should have been here by now i don't know what happens if it doesn't come stay with us our next guest also cautious she sees an earnings recession coming in the back half of the year joining us is the senior vice president at morgan stanley. it's true, now have we have housing turning up a little bit and some of the things people keep saying if ifsm gets better, what then? >> you're right. when we look at the data coming from last week it's been positive with consumer confidence and housing and investors are finding it very difficult to figure out how

to translate it into the context of their investment portfolios because they are afraid

balanced portfolio look like say for a mid, hypothetically, right. it's not necessarily what it was before in terms of large caps, smaller caps, international and how much dry powder do you be sure to keep in a market like this that's run so far already >> john, it's a fair question and i'll make the argument a balanced portfolio hasn't changed that much. what changed is that now we can actually afford and enjoy being a little bit more conservative because if you change the asset allocation, slightly, and have a little bit more cash on the sidelines now we're not sitting in a zero rate environment where the cash is not earning anything but we can actually enjoy a somewhat higher rate of return in the higher interest rate environment. we can diversify both in stocks and beyonds and what we're

telling investors they should not miss through the message as the invitation to exit stocks. that's not what we're saying at all. we're advocating slowly and gradually entering the market looking for buying opportunities, in sectors like health care, energy. there's definitely financials, you know, we're coming out of the financial crisis which presents opportunity we are least excited about investing in broad indexes right now. but we are telling investors that they can be a little bit more conservative with the risks. >> friday we kick off earnings seasons what are the expectations for the second quarter and what does the back half look like is kateryna right? >> the second session is likely. another year in the decline but there are indications it could be the trough.

look at forward estimates they just started to bump along flat on a 12-month forward basis that would mean we had a brief and shal shallow recession. i know a camp that said we have a concentrated earnings story. outside of big tech doesn't look like earnings growth from the rest of the s&p 500. but i don't know that, you know, you're in a position where we want to map past tightening cycles and what happened from peak to trough earnings onto this one because the index is different. you have these dominant franchises that are earning a lot. and every company with a net cash balance is earning 5% on the cash higher than almost every corporate interest rate out there on an investment great level. so it's an unusual combination of higher nominal growth that has helped out revenue growth

along the other effects that have cushioned the economy. >> what's your take on what investors are doing now? the nature of a balanced portfolio that has changed for investors. even those close to retirement, not 60, 40 tilted towards equities. what are the implications for the market here? >> i thought the findings that recently people close to retirement age are heavily weighted towards equities are slightly alarming. it seems you don't want to make any huge bets along the lines. people are afraid of bonds after what happened when we got the big selloff last year. to me the fact you're getting paid a fair, real interest rate on fixed income without taking much risk means it's balanced in the portfolio to take risk elsewhere keep proportions roughly on target. it seems as if nothing has come along to say that's been invalidated. >> all right kateryna and mike, thank you

now another potential worry for the markets. the prospect of more pain in the banking sector hue sun runn writing about this this morning this was written about in march there was going to be necessary consolidation in the banks because costs are going up but how does that affect the stocks because they're already down >> they're already depressed i don't think there's a real belief that that reflects anything other than pessimism about the sector it is pessimistic outlook. the people i speak to say this this sector, particularly the smaller banks, regional banks it's under earnings did yous are, pressure for the foreseeable future rates are high and going higher. it hurts their underwater bonds on their balance sheet and at the same time leads to deposit

flight so when we see earnings later this month, thinking of key corp., co-america, they've already signalled pressure on net interest margins we'll see basically three months instead of one month queue results of funding pressure and under duress there is concern some banks will cut their dividend we know they're loathe to do that, want to do it as a last resort because it shows a company under duress they don't want to do that but they might have to. >> how much has the fed helped some of these banks clean up their books over the last several months, that was the talk is this commercial real estate potential, you know, bomb really in a lot of these banks still a

threat to go off or is it diffused >> they've been the perpetrator too. given them time and pressure we know that jamie dimon has been saying use this time to fix your balance sheets. can they sell loan assets? pack west has done that, it's taken some of the pressure off, the stock has improved but for them to sell loans they have to absorb losses and hits they're loathe to do that. they're in a bind. they can't raise equities. the long players are not buying banks because rates are still rising so they're in a fix. >> so basically people expect not necessarily expect this quarter or in a fleurry, the net couple years consolidation. >> it's been the last few years they were consolidating. there was 13,000 banks in the

country now there's 4,200, the consensus seems to be cut that in half so there'll be 2,300 banks. >> and it might tell us who are the acquire raes and who are the ie choir -- acquirers. is it going to be a top five bank or second tier? >> the action i suspect is below the megabanks. their deposit bases prohibit them from buying other deposit institutions if you're under 250 billion assets like scp, first republic, you can skate with lower oversight we saw what happened they're closing those loopholes and michael barr talked about that today so there is incentive now for them, banks that are 100 billion, 150, 200 billion to scale up, buy each other and get

larger that way. >> no longer any incentive to be small. >> i agree >> thank you very much we appreciate it janet yellen wrapping up her china visit. some call it successful but tensions remain. plus a.i. expansion, digital ocean looking to make waves in the space, acquiring an a.i. platform a quick power check on the negative side today, fmc corp. down 10% a massive outlook cut sending the bears on a victory lap ralph lauren hitting a new 52 week high on the other side of that orking instantly. with two max-strength pain relievers, so you can rise from pain like a pro. icy hot pro.

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welcome back to "power lunch. janet yellen janet yellen fresh off her high stakes trip from china where she pushed the message of diversifying not decoupling the two larges economies. but the treasury secretary has an idea how china should go about that. >> a shift towards a more market-oriented system in china would not only be in the interest of the u.s. and other countries, it would be better for the chinese economy as well. >> and the latest push comes at a time when the country is showing signs of economic weakness and approaching the brink of consumer deflation. is it time for china to revamp

their system michelle cabrera is here now wouldn't it be amazing if this was an opportunity but it doesn't seem like they want to seize on that. >> very unlikely janet yellen is no right wing ied log. she's a labor economist who studied at brown and yale and she's telling the chinese government they need to embrace market forces that tells you the things they did the last 20, 30 years to raise their economy, lift people out of president obamaer -- poverty we focus on what we do to them, they do to it, but we don't focus on what they do to themselves it's very sad, it would be better for the chinese people. >> like derreck scissors said, don't think economic stimulus, not much they can do, they're willing to do. why?

>> my understanding is they saw what happened in the soviet union and they did not like what happened. >> with the more market oriented. >> when they moved to a market oriented system the communist party lost power look what they did with jack ma, the rise of the oligarchs. so jack ma and alba bah, which i know is up tonight remember ant financial was supposed to raise $300 billion and now based on the buyback it's only worth 79 billion what a tragic loss of what could have been. and they punish jack instead of applauding him for making something that could have been amazing. >> you're trying to prevent the oligarchs and inequality

it seems like that what's that they were trying to do so is this it's more of a garnish not a main course, when things are bad we want more market forces run. ant financial, you're off the hook >> i think they're always going to lean on state owned enterprises saying the capital is going to go where the government desides it should go. when you look at the way the chinese market has moved, anything run and owned by the state, those shares have run far better than anything privately held the market has made that distinction clear. it used to be the chinese market was an investing market. you were going to invest in china because there was a long term story there now it's a trading market, you trade it based on news that comes out for whatever reason. >> now india whether or not india will be a

good return on capital remains to be seen but that's where everyone is laying their bets now. it's like the number one oversea preferred, market for the next ten years. >> india has a lot of opportunity. can they do what they need to to in order to seize what could be theirs their manufacturing capacity isn't the same as china for a variety of reasons if they can do that, then you could have competition there in terms of diversifying supply chains that we need. >> so derek's view was most likely china is going to muddle through. do you see the risk it does get a lot worse from here? could it get better now that we've all priced in the down scenario >> i assume you talking about the economy not the stability that kind of thing >> yeah. >> it's impressive to achieve deflation in an incredibly inflationary world they have producer price

dekp defl deflation. it's happening yes, i think it can get worse because they have so many structural impediments in the economy, the debt levels, demographics working against them, their inertia internally about allowing the markets to distribute capital instead of them. >> deflaiks was supposed to be a thing of the past with china being a case in point and the fact it's striking in this environment. >> startling. >> we should talk more about that debt and how quickly it's gone thank you. further ahead on the show. data harvesting. we'll look at an agricultural tech start up that monitors billions of acres of farmland and then sells the data to big food businesses. and then the break out potential in today's three stock lunch when we come back. alyze data— from hvacs to elevators to lights. what if we use ai-driven insights to pinpoint inefficiency?

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welcome back to "power lunch. let's check on the bond market with that ten year sitting bang on 4% again. rick santelli is joining us from chicago. big moves hately rick? >> yes big moves but maybe not necessarily the big follow through many were looking for. let's look at a three day chart

of two year note yields. a couple things to notice. we have successive lows. so we're staircasing lower, maybe the most important feature of all is the far left you see the intraday high yield of 511, as you move towards the chart that starts well, in the beginning of 2005 you can see why that's such an important area the left side has a double top, the right side may have a double top. why? because we have not had a yield close about 507 and that is technically significant. we all know that in march the two-year note yield reached z the point above 5% and then dipped well down to come and test it. intraday slice through it like a hot knife through butter but it's the close that matters most each successive session including today is a high yield

of 408 but we're below 4%. looking at the twos versus ten spread and take it back towards the spring of 2021 when it crested about 160 basis points and at the time, that was the steepest since 2015 look what it's done. it's piled everyone in basically a position looking for flattening slash inversions. it's double bottom around minus 108 and hurting as many. see the two year note yield coming down and reversing many of the flatner/inverted trades jon fortt back to you. >> what a flashing light that is thanks now the trade in oil about to close for the day wti down about a percent let's bring in pippa stevens for a look. >> move between gains and losses before taking a leg lower. it follows last week, wti's best

week since april now today there are a couple of things going on, of course on the positive side we have the cuts from opec and russia -- from saudi arabia i should say and russia from the negative side the latest data out of china, the producer price index fell at the fastest rates in more than 7 years, speaking to the soft consumer demand not helping the bullish narrative. nat gas is up 3%, different story for that market after prices fell last week. today's move likely a combination of short covering after the declines as well as forecasts for warmer temperatures and within the lackluster environment i think one thing to watch as earning season approaches, production plans for the second half of the year, which we are in, actually there was a note this morning saying they see well intervention spending jumping 20% this year in other words that's squeezing out every last drop of oil from existing wells rather than

drilling new ones which is more expensive. >> i know china ain't back until crude starts popping again one of these daysfinally it'll happen maybe >> maybe. let's get to contessa brewer for the cnbc news update >> a kansas judge ruled today the state must stop allowing transgender people to change the sex listed on their driver's license. the state attorney general said the changes violet a new state law, taking effect july 1st and uses reproductive ability to define men and women and a third category of disabled the democratic governor insists she will not implement key provisions and is reportedly working on a legal response to the judge's order. a landslide in southern california ripped a dozen homes off their foundations. they say those homes are at risk of collapsing into a canyon

below. local officials say excessive rain likely played a big role in the landslide. and madonna said she's on the road to recovery after she was in intensive care for an infection last month in an instagram post today she said she's postponing her celebration tour in north america, it was due to kick off this many human trafficking and the singer said she'd reschedule the dates in october instead wishing her the best. >> absolutely. ahead on "power lunch," just a drop in the digital ocean? more and more businesses are betting big on a.i. but how are the players planning to distinguish themselves from the rest we'll speak to the ceo of digital ocean next as we head to break, the reveal for top states for business. and scott has a hint about this year's winner. >> it is our annual study of state competitiveness. we've been doing it since 2007 where am i here's another top states hint

highlight of my life highlight of my life what does that mean? read more about our study at top states.cnbc.com. tomorrow we reveal the top states more "power lunch" continues

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welcome back to "power lunch. cloud service provider digital ocean, the latest company to make a big bet on artificial intelligence acquiring paper space for $11 mi1 million in ca. shares are up nearly 80% so far this year. yancy sproll is the ceo, and joins us now thank you. things have been tough you did cuts a few months ago. this is an acquisition at a time when people are talking about a.i. why is it worth the cash >> we're excited about the opportunity to extend our platform to include gpu infrastructure, which historically we had standard

compute, standard infrastructure and service. we ''ve now broadened that which is enabling a new slew of opportunities and developers and small businesses to create applications to leverage the exciting things happening around llm and this new extension of the artificial intelligence capabilities in the market. >> the reason i think this is so important to watch people may not understand what digital ocean is or what you do p. but you're providing those i.t. services to smaller companies and a lot of the use out of a.i. is going to come from developers within specific industries finding models that actually allow them to get ahead. so you can be a canary in the coal mine here for where the real value is in a.i is that why you did the acquisition? and how soon do you think it's going to start to deliver the value you expect to see here

>> i think you're making an important point. we differentiate by focussing in a different way our entire slew of services to people early in the journey. individual developers just testing an idea. people launching a start up, just getting lift off or managing a small, medium size business which for us is less than 400 employees they need help, simplicity, support, documentation all things that we provide that enable customers to have an incredible experience. whereas in large enterprises they have big armies of i.t. and d dev ops people that enables people to get the early stage liftoff on our platform combined with paper space where i think the broader conversation happening in a.i. on of your network and

everywhere in the business community is around the enterprise, which is a different use case we're distinguished in our end of the market we think we'll have a powerful set of capabilities to enable the new slew of applications in a.i. >> it's kelly here, thanks for your time. because you focus on small, medium size businesses under 500 employees, this is ground zero for the economy, facing higher borrowing costs and these pleasures. can you tell us how is that client doing what's your sense of their condition versus 12 months ago. >> 12 months ago, everyone got hit with a shock to the system in terms of slowing pace of growth i'd say we're in a new normal, where we're growing slower but our customers are still growing. now they're optimistic we put out surveys around that and we're helping them again i think our business

models really help customers who don't have that capability internally, that expertise to better utilize the services et cetera so i say those customers are growing, slower rates but opti optimistic and i say it's a much more stable environment where we were seeing deceleration a year ago, i think we're in a stable but low growth environment today >> we had amazon's ceo andy jassy on the network last week making the case for amazon's potential in a.i. and making the case that amazon's custom chips price value wise are just as good as nvidia is that true from your perspective? you're not going to have the same kind of access to amazon's chips that you might to the likes of the nvidia, amd, intel? how much of an advantage do those companies have and how does that put you in position with paper space to really make

progress >> well, again, i think we're -- first of all, we think this is a massive market the cloud infrastructure market itself is north of 100 billion just for the asset b and developer part of the market that we play in. that's obviously a different market than those of aws and others but the aggregate amount of money spent to transform the economy through cloud is big and ai is going to be added to that so i think this is a big sand box, big ocean for all of us to play in. i think our end of the market, i think your point, whether we need this extra special customized curated set of chips and capability versus can we leverage perhaps currently through paper space with nvidia, strong relationships with the others you mentioned in our core business that's been more that sufficient for us to provide a very high performance commute platform enabling all these applications.

so i don't think that is as big a concern for us in the segment of the market which is still 100 million plus that we play in. >> are you more aggressively hiring again versus where you were a few months ago? >> we've been hiring we made adjustments but part of that adjustment was just realigning our footprint to be more global footprint but adding folks in go to market. we're investing a lot in paper space acquisition, and the acquisition we made last year with cloud wave. so there's parts of our business we're focused on optimization for efficiency and operational excellence standpoint but there's growth in our business and we're investing in it. >> good to be a public company and be able to say that, not hunkered down. good to see you. >> good to see you thanks for the time. good to be with you. making hay from data harvesting we'll hear from a startup

harvesting farmland and selling d soil data.

welcome back, everybody. big tech looking for greener pastures with market difficulties as of late and

consumers are seeking out healthier food options the production can be bad for the planet so the race is on to make farming cleaner diana olick joins us with her series on startups. >> agriculture and the overall food ecosystem are responsible for one third of global green house gas emissions. growing things is a dirty business but new technology is offering farmers and food companies ways of making it cleaner. growing all the things we eat is not exactly great for the earth. it depletes the soil of nutrients and produces harmful carbon emissions regenerative agriculture is not new but technology advancing it is. >> we monitor 1.2 billion acres on which we observe the adoption of practices so we can inform private and public sector how to

act around it. >> regrow ag is a science and tech start up focused on decarbonizing and renewing agriculture. it takes data and on the ground observations on specific farms and feeds it into a model that knows how soils and crops behave based z on different conditions. >> is it stainable, is it bringing resilience to the farm in the community. >> reporter: the model also offers ways to improve, composting, cover crops and livestock integration. they then sell that information to companies like general mills which agreed to advance a agriculture on 10,000 acres by 2030. >> we source from the great plains of the u.s. and canada, dairy from the great lakes region so we needed to model impacts in

those regions. >> reporter: they're backed by galvanize, main sequence, times 12, rethink impact, total funding to date, $60.5 million corporations likes general mills that are pledging net zero emissions are buying the regrowth software and offering it to farmers in addition to payments for ecosystem benefits. so if the farmer changes the practices on their farms in a way that helps remove or sequester carbon, they get paid and regrow helps with that amount. >> is there a rush into this space? how many different startups are we talking about >> reporter: there is a rush into this space because of what a carbon offender is another start up we profiled in this segment, indigo ag is doing something similar. this is a huge, open space and dare i say a growing space for

technology. >> not just startups this reminds me of things that deere enter company has been working on to sort of bundle in with services so they're not just selling hardware and equipment. >> absolutely. you have the main stream companies doing it and the startups getting into the higher tech of it because it is such a big field. >> diana olick, thank you. coming up, 2021 deja vu, lots of trades working in 2023 but still well off those november '21 record highs. we're taking a look at three names our trader says are due for a breakout in three stock lunch after this break

it is time for today's three stock lunch with stocks moving probably higher this year, we're looking at names still more than 30% down from their 2021 highs that our trader thinks might be poised for a breakout as they move above their 200 day moving average. starting with blackstone, the finance giant down 38% from its 2021 high, but up 25% year to date here with our trades is ari wald from oppenheimer why should blackstone move high centre dry powder?

>> dry powder and i think the entire list as we think about stocks still well below their prior highs the next leg of the bull market is driven by rotation into the names. the s&p 500 is up 28% from last october's low but if prior bull coming out of a non-recessionary bear market. so we do want to consider these more late economic cycle conditions the median gain, even in that environment is typically from the bottom to the peak about 60%, 70% and even on the more muted side, that bull market should get you about 45% to 50%. the point being is that we think there's more upside here over the coming year. so we're increasing the portfolio. we upgraded financial services to overweight. just giving a broadening list of stocks that are reversing their prior decline like blackstone

which has moved above its 200-day average. it comes in at $87 that key support and the bullish trade is intact above there and there's upside into $110 as the stock gets back to peak levels from last year >> interesting turn there to watch if you're right. what about cybersecurity, and for instance crowd strike and it is up 50% from the all-time highs. are you as excited about this one? >> we are and this gets to the broadness of the technology sector it is not just five, six or seven stocks this is one of the sectors that is showing the broadest strength across the board and it's going to be that rotation that drives the sector higher. when one stock pauses another one will take the leadership role we do like crowdstrike which just in june finally broke higher and it's moving above the

200-day average and for crowdstrike, the traders, 141 is the recent low and i would get the flexibility down to 132 and that's the 200-day average with upside into 205, so i still think there's upside left in crowdstrike. >> all right active, the automotive tech company up 40% from its highs and up 16 this year. are they benefiting from electrification or what? >> there is. this is a play on consumer cyclicals. we want to own technology, industrials, financials and consumer cyclicals, as well. here's another name rated outperform by the recovering analyst at oppenheimer and you have the dual tailwinds and here ate stock reclaiming the 200 day average and the base is recurring at the current level and you go back from the breakout for the fourth quarter of 2020 above the stock's 2018

feed so it is intact above $100 support and that's the 2 h00-day with with the upside to 130 and it made its way back to where it started to break down in the early parts of 2022. >> so all of this kind of hinges on what the market overall does and a lot of questions of that heading into the second half is there any particular protection that these companies have against the down side scenario >> it's not necessarily protections that they have i guess the key point being price momentum and the market anomaly that has the returns over the benchmark looking at various market cycles over the data the key point for us is areas that have been limiting market participation, areas and small caps are starting to move higher as long as the russell 2000 is

holding its 200-day moving average. i think the assumption is that the bull market is intact and it's got fire power in these unloved areas to move higher and with that said, this 28% decline should start to get to some of those average levels that we led the show with. >> okay. we'll watch it ari wald, thank you. >> thank you >> still to come, threads taking a toll on twitter traffic or is it twitter's self-imposed engagement and why disney parks are more than in years, and those stories and much more, is that the or ev it's a good time to shop for an ev it's all ahead on "power lunch." dad, we got this.

we got this. we got this. we got this. we got this. yay! we got this. we got this! life is for living. we got this! let's partner for all of it. edward jones we planned well for retirement, but i wish we had more cash. you think those two have any idea? that they can sell their life insurance policy for cash? so they're basically sitting on a goldmine? i don't think they have a clue. that's crazy! well, not everyone knows coventry's helped thousands of people sell their policies for

cash. even term policies. i can't believe they're just sitting up there! sitting on all this cash. if you own a life insurance policy of $100,000 or more, you can sell all or part of it to coventry. even a term policy. for cash, or a combination of cash and coverage, with no future premiums. someone needs to tell them, that they're sitting on a goldmine, and you have no idea! hey, guys! you're sitting on a goldmine! come on, guys! do you hear that? i don't hear anything anymore. find out if you're sitting on a goldmine. call coventry direct today at the number on your screen, or visit coventrydirect.com.

>> welcome back. about three minutes left in the show and a bunch more stories you need to know they now have more than 100 million sign-ups since their debut in the last week twitter traffic down 5% for the first two full days since threads became available on wednesday and it's down 11% overall from this time last year >> i think threads is great. i know we have a disagreement on this early days for something like this, it's even got some real time response happening on there. our engagement is much bigger. >> it's not a top ad >> not even, it's brand new.

the baby isn't even writing essays yet >> whatever you call the main page i can't figure out how to keep my own thread going and it's so text driven which is odd to me in this day and age. >> the funniest thing to me is the idea that they'd be copying twitter. twitter is a failed social network. it couldn't grow and that's why it had to go private i don't want to throw "the new york times" in there you can have a great purpose without necessarily being that profitable although some of the self-inflicted roles are pretty shocking. >> the wall street journal investigation found ma bell with lead-covered cables across the country including underwater and soil and overhead utility poles. while the government has spent years eliminating lead in water, these phone cables have yet to be addressed at&t, verizon and others

responded to the report by saying that they don't believe any cables in their ownership are an immediate health threat, but they're taking it seriously and they're taking actions to address it >> this is important as the finding for these stocks and dealing with lead, they can go to these companies to maybe have some skin in the game is a huge development, let's just put it that way and the shares are down 2% today not huge in that sense, but this can go on for years. also, add this to the years of problems at disney they expect weaker u.s. parks this year and offering discounts on hotels even around christmas and companies analyzing wait times for the july 4th week in nearly a decade. i'm shocked, truly >> they're all on threads and the hypothesis is everyone is overseas because the people that would have visited 2018, 2019,

and i don't get at all foo with more than 92,000 electric vehicle ocelots a year ago they had it according to cox auto mottive. they had new cars to sell. so hond it's time for a deal >> a suv f that's what you want. thanks everybody for watching "power lunch." "closing bell" starts right now. welcome to "closing bell." i'm scott wapner the critical data and earnings and all of it with some questioning the real strength of this rally dan greenhouse, you might have just seen him, he'll weigh in on that and he was getting settled and your scorecard with regulation the stocks are broadly today as interest rates remain elevated and they're mostly lower and nonetheless, the ten-year is a good place to start. it's at 4% and the two-year high since