part of it to coventry for cash. even a term policy. even a term policy? even a term policy! find out if you're sitting on a goldmine. call coventry direct today at the number on your screen, or visit coventrydirect.com. hey, everybody, welcome to "power lunch." last day of july alongside kelly evans, she's back, i'm tyler mathisen coming up, the only thing hotter than the weather in july has been the stock market. the dow has had only four down days this month, only one in the past three weeks so can this red hot rally continue into august and maybe beyond plus, the trucking company yellow, nothing to do withthe coldplay song, shuts down operations, files for bankruptcy, with one player out of the game are shipping costs

going to rise? we will take a look at the inflationary pressure, kelly, this could cause. >> looking forward to it hi, everyone let's get a check on the markets as we wrap up a good month overall, the major averages up between 3% and 4%, dow hanging on to a 24-point gain today, nasdaq back in positive territory by 6, s&p down about a point. johnson & johnson a headwind for the dow, it could be headed for its worst day in more than three years with the 4% decline. a judge blocked the company's attempts to us auto the chapter 11 bankruptcy protection for the company unit to deal with lawsuits related to the at that time k-based baby powder a setback for investors today. shares of adobe are rising as morgan stanley is upgrading the stock on ai potential. seals sales check out shark ninja, makes appliances including the ninja foodie trading as stand-alone company

falling the spinoff from the parent >> now the question on everybody's mind on wall street, can the markets possibly keep this up, not just wall street, of course main street as well. even though the gains are not huge on a percentage basis, the dow has been higher practically every day now for three weeks. let's get to bob pisani for a look at the market as we head into august. seven months down, bob, five to go >> that's right. and we're up 19% and this has been some remarkable momentum. let me show you some stats on what we've been seeing in the last few weeks here. there's been no down 1% day for two months that is very unusual in the s&p 500. we're going to close higher unless we have some disaster in the last couple hours, five straight months. also extremely unusual july the big story is the rally is broadening out, not just tech stocks, in fact, tech are lagging. we're seeing energy stocks, material stocks, industrial stocks, bank stocks all ra

rallying that's the rally brond thing out all 11 sectors in the month of skbrul number one, the triumph of the soft landing, lower inflation, slower but still strong jobs growth and rates stabilizing the other major driver here is earnings are stabilizing, earnings estimates were dropping in the first half of the year, they are not anymore in fact, the trough is going to be the second quarter, that's the hope for the bulls after that we start going up in the third, fourth and into 2024, double digit growth expected in 2024 for earnings. we've seen price up and earnings not really going up that much, that means the pe ratio has been expanding, we're pushing the limits of that the final five months what do we expect here? the market is really expecting the soft left handing, we better get the data to support that we need a u-shaped recovery in earnings we need them to start ramping up notably, particularly starting in the fourth quarter. rates, that's going to be an issue, remaining stable and tyler, one thing to comment on, watch the jobs report later this week if we're expecting in the area

of 200,000, this has been a slow gentle move down, if we get a huge up number, 300,000, for example, we will see some problems you will see rates moving up again and that's going to be an issue for the market every time we went over 4% on the ten year in the last few months it's been a problem for stocks there is the weak spot in the market. >> bob, stay right there as we continue the conversation into what will drive stocks for the remainder of the year. we want to bring in peter anderson, chief investment officer at anderson capital management you heard what bob just said, stocks good, consumer good, economy fewer recession worries today than six months or a year ago. inflation coming down. looks like last innings of the rate hike regime here. why is peter anderson raising cash to the highest level in a decade or so >> well, first off, i agree with all the points you mentioned, so i remain an optimist, so this is going to sound a little bit

contradictory, but i do think we have to get a little bit sober that only 4 of the 11 rate hikes are a year old, tyler. so that's about 2.25% rate hikes that we're seeing impacting the economy. we still have 3% to work itself through. i'm a little bit hesitant to see if the fed has done such a great work if this soft landing will actually happen. i do put a high probability on it but i'm just a little bit cautious as we go into the second half of the year. >> but you've been in the no recession camp for a long time you are not changing your tune here, are you? >> not at all. the main reason is -- and thank you for crediting that to me because i have been in the no recession camp for over a year on this program and i'm glad i've been in that position because as we see i think that's actually going to happen however, artificial intelligence, you know, names like nvidia which has been my top holding, it got to be almost

20% of the portfolio so i don't like to take that much risk on that kind of one single name, so i halved that position, just because it is so dominant right now not world of artificial intelligence and if we make -- if the company makes any little mistake, you know, there is a vulnerability there so the main reason is i love artificial intelligence, i think i'm very optimistic about it, but let's take a little speed off the ball and say it's not going to be the cure-all for the rest of society. >> i want to sneak in one more question before i bring kelly into the conversation here i take your point that it may be only 2.5% of the interest rate hikes are 12 months old -- have reached the yearling stage or older and that interest rate hikes do affect the economy at some lag, but a lot of the effects of interest rate hikes are pretty doggone immediate mortgage rates go up when rates

go up. credit lines go up when rates go up auto loans go up immediately when rates go up and so the effects on those fronts are not at a lag, they are pretty doggone immediate, aren't they >> they are, but i think on a secondary level, on a more subtle level, you start to see things like yellow, the truck company, banks fail. there is a lag in like the secondary effect and i think that's what we worry about is has everything been demonstrated to respond to these rate hikes and history will show you that it does usually take about a year to be fully complete. and remember, we're not even halfway through. in terms of the amount of percentages, there's still 3% of hikes. >> that need to get that year point, that year -- >> yes, that are less than a year old

so i'm hoping the fed is looking at this. i think what everybody is thinking is, okay, we're almost there, we still have more rate hikes to season so to speak, so we're hoping that the fed is seeing it that way, too, and maybe this last meeting they had was the last of the hikes. >> peter, you mentioned nvidia, which is of course, you know, probably one of the best well-known -- best-known names in investing, she said, but i'm looking at your favorite stocks, slowed i thinker, shock wave medical, these are different do you think they could have nvidia-like returns? >> yes, kelly, even though -- that is wonderful that you observed that they're different from nvidia because in reality they actually support all artificial intelligence. so super micro computer, for instance, actually works almost hand in hand with nvidia to implement their designs to clients. so it's very much connected with artificial intelligence. is that road i thinker is a drug

discovery company using artificial intelligence to streamline the drug discovery process. it normally takes five years to test compounds, with artificial intelligence and with other quantitative processes they've reduced that to two and a half years. shock wave medical probably will say it uses artificial intelligence but as of now it doesn't, it's just a simple medical procedure that uses a mechanical process to reduce calls yum deposits in arteries. >> bob, you get the last word here, you've listened to the conversation, what are your reactions and thoughts as we head into the last five months of the year? >> i like to think of the markets what would cause the greatest discomfort to the greatest amount of people. no one was in the soft landing camp, everyone was in the recession camp, rates were going to go through the roof, inflation was going to be high that proved to be high how the pain trade is the

opposite the pain trade is the market actually goes down because everyone's position on the soft landing side what could sour that whole gain? well, rates going up the economy is so strong the fed has to continue to push on interest rates and try to keep the economy down not many people are positioned like that, that's what i would watch out for in august and september. >> all right peter andersen, bob pisani, thanks very much we appreciate it. >> you're welcome. let's get to steve liesman for the senior loan officer survey. >> banks are tightening their standards for commercial and consumer loans this is the concern that was out there, has been out there for a long time about especially in the wake of the silicon valley bank and other failures that were out there banks indeed are tightening their credit standards and one of the ways they're doing that is increasing the spread of their loans over the cost of their funds. that's, i guess, good for bank earnings, not necessarily good for consumers, borrowers or the

economy overall. they are reporting reduced demand for commercial industrial loans, also not much demand for commercial real estate loans and demand for residential mortgages remains weak hard to sort of project this forward into how big or bad a thing this is for the u.s. economy. a long term trend where up near the areas where there would be -- recession these kind of tight credit standards, but of course we are registering and have registered relatively strong growth in the past. this is covering the second quarter and last week they reported gdp growth of 2.4%. at least this time, quelly, or not yet corresponding with a recession. >> i still think -- steve, if you took this by itself as the only data point and it's an important one, it predicts default rates on high yield, and in and of itself you say, well, you know, a little more worrisome than maybe the forecasters we discussed earlier w are expecting. >> it could be and the notion of

your last guest that there's still tightening in train for the economy, what was the concept that they're not necessarily yearlings yet, that is possible. i do note the idea that the spreads are over their cost of funds or have been increasing. it means there's room for them to come down over time if we remove some of the uncertainty over the economy. >> all right steve, thank you very much steve liesman reporting on the slos report. shares of tupperware up another 30% today, soaring 400% in july, but the market cap is still small, just around $200 million. really tiny. kate rooney joins us with more on how tupperware -- tupperware became the latest meme stock. >> it's that tupperware. it's looking like the latest meme stock, you remember, though, wildly popular on social media, they tend to be struggling, core businesses and they're usually the target of short sellers.

you wouldn't know it by looking at that chart, but tupperware has had a pretty tough year. a heavy debt load, could have problems meeting the payments, the falling market cap may get it delisted from the new york stock exchange preliminary results in march showed an 18% drop in sales but there was news that blackrock was stepping in as an investment partner, likely to help reduce its debt we reached out to blackrock, no comment, but a big name like that getting involved even if it is just a head line can often light a fuse on some of these height high will i shorted names. the lit ri of bad news is a natural draw for short sellers 27% of outstanding shares are sold short right now, that's roughly four times, almost five times the average stock. that's part of the fun for some of the momentum-chasing meme stock investors who might hope for it to really spark a short squeeze, that's where the traders who bet the stock would go down are forced to buy it back, cover their positions, the stock then shoots up

tupperware is not the only meme stock doing well right now, the meme etf is up 18% or so this month, best month since january. you have names like carvana and coin base but these stocks tend to be incredibly volatile, prone to large swings. buyer beware on tupperware. >> fascinating that, you know, you would have thought with all of the -- you know, what does it tell us about the -- i don't know whether it's psychological or it's the liquidity. it's just amazing to see this kind of renaissance in a trend that we thought was so over, you know, two years ago. >> it could speak to some of the risk appetite returning to the market you've seen thesame phenomenon playing out with crypt recurrencees, some of the alt coins, the more speculative part of that market spiking it speaks to some risk appetite. some have called it gambling it's a small subset of the market and is subjective on what makes a meme stock

you tend to see mentions on social media if anything i think it speaks to the risk appetite, some people feeling more confident chasing momentum here, but very small market cap, really a momentum name and we've seen it with game stop and amc, the stocks tend to go shooting up, you see short squeezes but also crash down it's one of those you have to be careful and the fundamentals like i laid out really do not suggest that this might be a long-term investment it seems like it's a lot of momentum chasing here. >> kate, thank you kate rooney reporting. appreciate it. coming up, a trucking company hits the road. yellow filing for bankruptcy, shutting down operations, a huge amount of layoffs. what this latest supply chain snag could mean for the supply chain and inflation. and doochbts trailing former president trump in the polls and by quite a margin. another area he's also lagging behind in could be of even greater concern. we have thlaste te if you know raising numbers when "power lunch" returns ful enough to connect your data wherever it is,

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good to have you here with us to break this down today. welcome. >> thank you pleasure to be here. >> what's the immediate effect, do you think, of yellow shutting down >> well, thankfully the industry has had some time to prepare for it because it's been coming for a while. so a lot of that freight has been absorbed into other systems and the less than truckload sector which is where yellow participates has been one of the smaller sectors historically so the overall supply chain will be fine, however, there obviously will be near term impacts, particularly in the pricing and matching supply and demand in the less than truckload secretarie >> right, although i'm not sure we should jump to the conclusion we will suddenly be short on trucking supply. during the pandemic when demand and prices absorbed you had a ton of new entrants, yellow was financially vulnerable, it was even ailing before the taxpayer loans to get through covid the taxpayers still own 30% of

this company which i presume is worthless. are we still in a situation of having a glut in freight capacity >> yeah, and that's a relatively recent turn. obviously during the pandemic people were cooped up at home and purchasing quite a bit so the supply and demand situation was very different during the pandemic, but certainly when it turned more recently yellow and that debt load that you mentioned really came to bear the burden of that unfortunately. >> so you lose a competitor in the space, not necessarily an unexpected loss but that means there's one less competitor, that would suggest that prices might go up a little bit among those remaining competitors. who is going to be most affected if there are price increases and then do those price increases get passed along, say, to the consumer who is buying goods from, let's say, dollar general or whomever is using these companies? >> yeah, it's a great question,

tyler. the reality is that the competitors out there are relatively concentrated. so across the entire less than truckload sector you're really only looking at about 80 competitors and really only about 20 of any significance certain competitors will benefit more because their freight networks tend to align and value proposition aligns a little bet better those would be xpo, trans force or t force and abf freight should benefit the most from this situation there are, however, others that on a regional basis will benefit because yellow had a fairly substantial regional business and those are not necessarily household names and not publicly traded names we would come to know from watching your shows. >> can i pivot you now to u.p.s. and there, i think, if i'm reading my notes correctly, you think there will be price increases because there's no other way that u.p.s. can really

pass along the extra cost or cut costs sufficiently to blunt the impact of the labor deal they made last week >> yeah, that's correct. u.p.s. network has been efficiently run for a very long time and what we saw in the tentative labor agreement that was reached last week is a fairly astronomical wage increase and a wage increase of that magnitude when wages and benefits occupy as much of u.p.s. cost to serve as they do have to be passed along or compensated for. passing them along really equates to a broad-based increase in prices both for shippers and for us as consumers. >> they were downgraded credit suisse today as well saying the financial impact will be an immediate -- whatever you call t hit to everyone is taking notice here across the industry and the analysts on wall street as well. tom, thanks for your time today. >> my pleasure thanks for having me.

>> tom night inn gail with afs. ahead, mass brow's magic moment, one of the best performers on the s&p after bank of america upgraded the shares to a buy bullish on demand for magic sets we will trade hasbro and other calls of the day in three stock lunch. we will be right back. what if buildings could tell 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. now you've built something better for everyone. that's the sustainability solution ibm and a global real estate company created. what will you create? ibm. let's create.

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welcome back crude oil has suddenly made a pretty big -- i noticed $81 per barrel. >> even while you are on vacation you're watching. >> the nerve it happened while i wasn't here. up 15% in january. pippa stevens, tell us what's going on. >> the best month since january of 2022. today hitting the highest level since april. it really does feel like in the last month there has been this turn in the oil market where there is now some optimism that we will finally start to see that tightening in the second half of the year the output cuts from saudi arabia and russia, we have the end to the destocking that we had seen given the higher cost of keeping oil on hand and then we also have optimism around china having more stimulus measures to jump start their economy. within this backdrop i want to take a look at s&p energy earnings because they have of course been well below their

high water mark in the second quarter of last year when oil was comfortably above the $100 level. things are still looking pretty good as you can see, their earnings are right around their 2021 and into '22 levels and well below -- well love, i should say, their pre pandemic levels maybe this will be what reengages investors in this space and calls them back to the energy sector. >> very interesting. and demand, maybe china, maybe issues having to do with the war in ukraine could -- and as we go into winter. we've got off easy last winter, right? wasn't that cold in europe or in the u.s. >> exactly and it's not just winter, one thing to watch coming up is hurricane season and any refinery outages, the national average is an eight-month high at $3.75 per aaa as we enter that difficult hurricane season the refiners are knocked offline we could see prices reflected sooner than next winter. >> pippa, thanks. let's get to contessa brewer

for an update. >> the state department is urging americans to stay away from haiti an an humanitarian organization reported an american nurse and her child was kidnapped there. a state department spokesperson says u.s. officials are aware of the reports days after it issued the highest possible travel alert and evacuated embassy staff. the haiti nonprofit says alix dorsainvil and her young daughter were taken from their campus near the country's capital last thursday. details of the abduction are unclear. churchill downs is making changes following the deaths of 12 horses before and after the running of the kentucky derby. the iconic venue will implement new safety measures that include new track surface maintenance equipment and additional monitoring and care for horses running there all before racing resumes in the fall. and the u.s. air force struck a $142 million deal with archer aviation to purchase six of its electric midnight aircraft the air taxi company says the

aircraft has a range of 100 miles and can carry four passengers and a pilot tyler and kelly, this is all of course that vertical airlift that is to innovative in this particular industry. >> and i would think they would use that to maybe insert people into hostile areas quietly it only has four people capacity, right? >> yeah, and so then you don't need the infrastructure of an airport with a runway and all of that it can take off and land, you know, in some ways like a helicopter does. >> all right contessa, thank you very much. ahead on "power lunch," we are setting the table for a deluxe -- a deluxe three stock lunch. we will give you the trades on bold calls of the day when "power lunch" comes back after this

welcome back, ever been.

time for three stock lunch deluxe edition our team of reporters will give us the news and moves and then our trader danielle shay of simpler trading will give us the trade from her perspective let's start, why not, with ge. seema mody with the story. >> tyler and kelly, general electric's story has been heavily tied to the outperformance in the aerospace business but the business it is making in turning around the renewable energy division got the attention of wall street analysts following the report last week. rbc capital sees strong operation momentum being sustained ahead of the spinoff slated for early to 24 it has struggled for year but the ceo telling me ge will see the on shore wind and grid business turn a profit in the second half of this year i guess the down side risk may just be valuation. the stock is up 72% year to date on pace for its seventh monthly gain in a row. rifling the gains of big tech stocks like google and apple,

another risk analysts say, tyler, is the weak inning in china. >> thank you, sema let's go to danielle what do you think of ge? >> so when you look at ge, i love the performance this year, i think that the trend in the short term is bullish and that looks great, especially if you are on for this ride however it makes it challenging especially if you want to come in and make a long term buy because of the move it has already had. i would prefer a pull back into 110 or or so that would give you a better entry with a an edge, especially if you are trying to place short-term trades along with the trend wait for a pull back, see if you can get a better entry and trade it up to about 120 or so. >> let's move on to ford, then downgraded to hold by jeff frees today, lags behind rivals in the ev space let's turn to phil lebeau. how low is the bar here, phil? >> you mean how low can the stock go is that what you're asking

>> maybe has expectations for earnings come down somewhat? >> they have oh, absolutely and we will show you in a little bit how much the analysts estimates -- they brought in their estimates for the second half of the year when you talk about the downgrade it's a couple things, they've cut it to hold and lower the price target from $17 to $15. you are not seeing a huge difference in the target but they're going to be spending more and a slower ramp when it comes to the ev business their guidance for how much they're going to spend on evs this year has gone up $1.5 billion in just three months not expected to be over, what, $4.5 billion for the entire year and that's much greater than they were spending last year bottom line is this, their ev development is coming along at a slower pace. now, look, they're knocking it out of the park when it comes to internal combustion vehicles and commercial vehicle division, gangbusters, there is no argument about how great those businesses r the ev business not

living up to expectations. nor the guidance they gave not so long ago and that's why you see a number of analysts much more cautious on ford. >> danielle, what's the trade on ford as far as you're concerned? >> so when you're looking at ford i completely agree as it relates to the ev business and i do think that's why we're seeing it come down i don't like the way that it's traded lower post earnings typically that's not a very positive sign. i think that right here you can look for it to stick around this level perhaps trade down into about the $11 price point where we have a pretty key area of support. i think in this zone especially with ongoing economic circumstances we can look for ford to trade sideways, however, in the long term as long as it can hold $11 a share, i think we're still going to see this stock trade higher i think that the deal they made with tesla surrounding the charging standard is very positive for ford and i think ultimately this company will start to rise again when the economy improves. >> all right there you go

ford looked a little stuck in the mud on that, but we'll see finally let's go to hasbro the toy maker up 3.5%, upgrade bank of america saying hasbro should beat expectations for earnings when it reports on thursday, high hopes for magic the gathering cards. everybody is paying attention to mattel these days with barbie but hasbro. >> if you take a look at the overall picture magic to gathering -- and i was shocked to hear about this -- it is 15% of hasbro's total revenue and 35% of their pretax operating profit magic, the gathering. >> i wish i knew it was a thing in 1995. >> the reason why you have this is because there is a change in sentiment say the analysts over at bofa around this magic the gathering franchise. a lot has to do with the "lord of the rings" co-branding franchise they have with magic

the gathering. you have "lord of the rings" cards to play with magic the gathering. they have already got a co-branded one with dr. who and that movie and show franchise. there is kind of a renewed sentiment around this whole magic the gathering franchise and if you tack on that with some of the more bullish hollywood stuff going on right now, writers strike and ax torse strike aside, "transformers: rise of the beasts," spider-man into the spider verse have done pretty well at the box office. they could propel toy sales tied to the franchises as well. role-playing card games, better box off for certain franchises tied to hasbro toys and you have yourself a bullish thesis. we're getting our geek and nerd on and that's the reason why bofa likes magic the gathering. >> danielle, what do you think get your geek on, and your nerd. >> when you look at hasbro there's several reasons to be cautiously optimistic. i like the way that it's gapped higher the last three-quarters

post earnings, however, i will note that this quarter we've seen many companies beat eps estimates and fall lower i would keep that in mind. when you look at the shorter term trend, we are in a shorter term uptrend we have some consolidation and a market maker expected move a little bit up over $4. when i look at this stock i have key resistance between 66 and 69 with a bullish move post e if we could break through the recyst ans this stock could continue its uptrend but keep in mind there is resistance at that zone so if it fails i would have a stop below 62. >> very interesting. danielle, thank you for your insights today we appreciate it >> thank you >> danielle shay. >> i was going to ask if her kids played magic the gathering. maybe the older one. coming up, better late than never. morgan stanley upgrading shares of a bony to overweight saying it's in line for a big boost from ai despite being late to obe ar uy.

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welcome back to "power lunch. in today's tech check two big

calls we want to highlight, adobe upgraded to overweight, keith weiss is the analyst, joining us now we appreciate your time into thank you for having me. >> which one are you more excited about? >> always more excited about the upgrades than the down grades. very excited about adobe in what we're seeing there in terms of their invasion around generative ai we think there will be more product coming from the company. selling that product into an installed base where you can include the productivity of that installed base and if they capture just 2% that have productivity gain that's our value capture framework. we think that could add $2 billion in revenue to the stock in their fy '25. that's a pretty exciting forecast, way above what consensus is looking for, 7% above what consensus is looking for. something that could accelerate the overall revenue growth of adobe, all of that is exciting.

>> maybe one the one less fun to talk about but maybe a reality check for salesforce, what do you see going on there >> yeah, when it comes to salesforce we like the company longer term, but at this point with the stock up over 70% on a year to date basis what investors really want to see is evidence that they can participate, evidence that their revenue growth has the potential of accelerating as well. the problem we see with salesforce is really their business model they have what we call a large subscription model where they have three five-year contracts, annual invoicing so even when they do get the generative ai product into the marketplace it will take a really long time to see that in their results. compare that to adobe, with he measure adobe on annual recurring revenues as soon as subscribers start signing on we will see this in a arr and will let investors get more excited about adobe sooner. >> let's go back to adobe and walk me through, if you don't mind, where adobe would fit in this new ai universe

in other words, what will it either help me do or what will ai help it do better >> yeah, so when it comes to adobe it really comes down to less so you or i, more so the creative professionals, the men and women creating content for our websites, our our advertising campaigns, for email and what adobe has is a solution they're calling firefly, it's a jen can a testify ai model that you can create new content vis-a-vis text prompts this is going to be a major productivity enhancer for creative professionals it will let them start with a starting image along with what they're trying to put out there, whether it's the advertisement, whether it's the email or the facebook campaign or whatnot it gives them a head start and we think it could add 20% to 30% to the productivity of these creative professionals. >> very interesting. enable those creative

professionals to do what they do, but do it better, more efficiently, quicker, more crea crea creatively. >> exactly a simple example say m a bakery and i want to do an advertising campaign around new cupcakes i'm coming out with, rather than having to outsource to a photographer or try to find stock images, now i can go into fire flay and say i want a photographer of a cupcake that has christmas trees on top because this is the holiday season and the firefly ge generative ai behind it is going to show me multiple choices. >> and it's all licensed that was their point earlier, we will cover any legal costs you incur because you we license this content from getty it's not just scraped off the internet. >> they license it from themselves. >> from themselves thank you. >> that's a real differentiator is because they can indemnify their end customer they can tell their customer we know the source of all of these images you don't have to worry about lawsuits ore time which for a large company is very

important. >> absolutely. thanks so much we appreciate it today >> excellent thank you for having me on. all right. coming up, pole position former president trump now holding a 37-point advantage over second place florida governor ron desantis in the republican race according to the latest 2024 gop polls and it is apparently much the same when it comes to fundraising we will get thlastiges when "power lunch" continues i was having relationship issues with my old bank. next to no interest, the fees... it was just take, take, take. so i broke up with bad banking and moved to sofi checking and savings. now i get higher interest, pay no account fees, and get my paycheck two days early. get up to 4.40% apy, pay no account fees, and up to $2m in fdic insurance. download the sofi app and earn up to $250 when you set up direct deposit.

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donald trump is continuing to lead the polls in the race for the 2024 republican nominee for president. according to the latest "new york times" college poll, the former president has a 37-point lead over florida governor ron desantis desantis now struggling in more than just the polls. he's having a tough time fund-raising as well let's turn to cnbc.com's brian schwartz with the details. what are you learning, brian >> right now there are filings becoming public that really reflect what the polls show, which are groups of very wealthy people are starting to shy away from ron desantis and go towards

other candidates these are filings that reflect super pac money and pac money. we reported, just before we came on your air, that nelson peltz is giving big to super pac supporting tim scott, and miller and a few other wall street executives are hosting tim scott in the hamptons this coming month in august. there's some similar names also getting behind chris christie and his super pac, a new filing that came out moments before i came on air. some of the bigger, wealthier players, some on wall street, and elsewhere are putting their money and positioning themselves with candidates not necessarily donald trump or ron desantis desantis has big money but some big money donors are moving away from him and he's struggling to gain traction against donald trump, as are other candidates. >> where, by contrast, does former president trump stand in terms of moneys raised >> donald trump's campaign at

the end of the second quarter raised the most out of the other candidates i'm pretty confident of that most of that money was from small dollar donors. it was not from the wealthier financiers we see supporting the other candidates, the tim scotts of the world, the chris christies of the world this is how donald trump will play this game on the other hand, right, we've read that donald trump's leadership pac has been spending 40 plus million on his legal fees he's raising money in the pac with the idea it's going towards his legal fees and his campaign is raising dollars also. >> it's not a surprise that the financial establishment would not be raising money for donald trump. donald trump has campaigned forever, it seems to me, as an anti-establishment candidate therefore, you would expect that probably his donor base would be

small dollar donors. >> but there's another piece of this when you look at what happened in 2020, we look at what happened in 2016, there were a growing group of republican mega donors who did get close to donald trump and support him then what happened was january 6, 2021. that was the end for many of them, as they said at the time does that mean they're jumping in and helping these candidates with millions of dollars of checks not necessarily. but they're definitely not going back to help trump right now that could change down the road. it comes down to where these guys -- what do they really want to see in the republican primary election many do not want to see donald trump become the gop nominee and president. >> why has desantis lost any traction he had, if he ever had it >> i think he came into this race with a lot of fanfare there was this whole buildup coming into the race look, he launched his campaign i think people just -- if you look at the polls, it reflects a

growing group of gop primary voters, it hasn't gotten a lot of traction yet with that key voting bloc. i think that's really important. desantis and these other candidates have to appeal to those primary voters you look at "the new york times" poll, it suggests some of the things he's pushing out there, including these culture wars against corporate america, may not be gaining enough traction for him to rise up in the polls against donald trump sure, there might be some gop primary voters who support this, of course there are. but is it enough to position himself over trump and overtake him, which is what some wealthy donors hoped he would do not today, according to the polling. >> thank you for more on the money race. coming up, we have a little time lefand t a lot of stories we want to talk to you about com. from august 7th to the 13th. now is the time to partner with our experts. get started today with verizon business. it's your business. it's your verizon.

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policy! find out if you're sitting on a goldmine. call coventry direct today at the number on your screen, or visit coventrydirect.com. we got about three minutes left in the program. let's get right to it, starting with barbenheimer mania continuing for a second straight week "barbie" took in $93 million in north american box offices this past weekend one of the second best performances in hollywood history. while "oppenheimer" claimed the second spot earning $46 million in north america i was among those who went to see "barbie" this weekend. >> just "barbie" >> i didn't see "oppenheimer." and i have an embarrassing, humiliating thing to admit it was a little over my head i had a hard time following it

i lost the plot. i really lost the plot for me -- i mean, i couldn't understand "barbie." it's really humbling >> i don't think this is about you, ty. the plot recaps i read on twitter were all completely different from each other. i'm going, did people see a different movie here >> fun it was the set direction, the art direction, the actors, m margot robbie and gosling. >> i notice you're wearing pink. >> are you going to see "oppenheimer"? >> yes quest diagnostics with a test for alzheimer's, it tests for abnormal levels of a key protein marker before alzheimer's symptoms scary thought, i think a little bit that you can just kind of do a quickie test and know something of that significance

is the case. this also feels like a breakthrough in terms of early awareness, early intervention, that kind of thing. >> and couple that with the oppenheimer -- the alzheimer drug that helps in early stage, this might be something that is really -- >> finally we're getting some traction in this area, it seems. let's turn to amazon which says it has delivered 1.8 billion orders to u.s. prime members same day or next day so far this year. that is four times what it delivered in the same period back in 2019 also achieved its fastest prime speeds ever last quarter amazon says it is finally seeing the fruits of a multiyear effort to revamp its distribution network. it is getting faster i suppose we shouldn't be surprised that it is getting faster, but it is really happening. >> you know, i quit prime a couple years ago. >> me, too. >> i was just like, this is getting too tiresome but it's gotten so fast, i have a birthday party, i need a tie-dye shirt. skip ahead to elon musk.

his rebrand of twitter with the huge flashing x sign i go to twitter.com on my phone, the app has changed. he tried to put on the company's headquarters, had to dodge police activity. >> yeah, the police -- yeah, they're there watching the sign guys. we've got to go. thanks for watching "power lunch." >> see you on the twitter -- or on x, i guess. "closing bell" starts right now. welcome to "closing bell." i'm mike santoli in for scott wapner at post 9 this make or break hour begins with stocks coasting towards the close of a fifth straight winning month as wall street fully embraces the economic soft landing story. that's the corporate profit growth now potentially bottoming. and strategas group's chris verrone will break down the two areas of the market he's bullish into year-end. first, our talk of the tape. will the upward trend in the indexe