was able to raise prices, which has been boosting profit margins at pulte so pulte shares continuing, up 75% year-to-date and we'll end on shares of general motors, up around 1.5% over half a million shares of volume at this point the automaker beat profit and revenue estimates and raised its full-year guidance for a second time this year and announced bigger cost-cutting targets as well so those gm shares, up about 1%. and by the way, you'll want to tune into "squawk on the street" in the next hour, when general motors ceo mary barra sits down for a cnbc exclusive interview, must watch on this day for the auto industry. joe, i'll send things back over to you guys. >> dom, thanks morgan stanley market analyst, mike wilson issuing a mea culpa in a note to clients saying he's been too pessimistic on stocks joining us now to talk markets from a technical perspective, katie stockton, fair lead strategies founder and managing partner and a cnbc contributor you definitely get cut more slack, katie, because you're a trend follower and a technical analyst. as far as mike wilson, he's still -

dr horton, pulte hitting all-time highs before selling off. is this more about valuations than fundamentals? >> i don't necessarily think it's a valuation thing carter can speak to the reversals, what they mean for technicians and chartists. pretty significant reversal. when pulte homes reverses down four bucks, dr horton on decent amount of volume, two, three times normal volume, that's what we've been waiting for i'm wrong all the time about a lot of different things. but one we've collectively gotten right and s this home builder move, and it's extraordinary. you've been waiting for something like this. because when it turns, the turn is going to be precipitous and fast now, i dent want to make too much out of one day, but if you've been waiting for that type of move, today has it in spades, courtney. >> what do you do with this kind of move, karen >> well, so i own something like whirlpool which is down 4 or $5 today. nothing really changing in the space. to me the multiple is very low clearly it's has a nice run. but i still think that th

i mean, is pulte and the other home builders in a sweet spot in terms of margins >> yeah, they really are i think that's right a year ago and even a year and a half ago people were very concerned that the rise in prices was just simply, you know, unsustainable and they saw it as something unnatural. which we actually by contrast saw as really the natural result of a complete and utter lack of supply nothing sells like a shortage. and basically these home prices got to where they were because somebody was buying them that's what you're still seeing today. the home prices are high the mortgage rates are high. but there is no supply out there. and the situation cannot be fixed quickly because frankly we have been underbuilding in this country for about 15 years it's still hard to build houses. pulte will be the first to tell you it's not easy building houses, getting approval and finding all the labor and materials to do it so therefore you're going to remain in this tight inventory situation for the foreseeable future and that will be a benefit to the margins. >> what does their order b

lauren is back with the movers, pulte home. lauren: and orders increase in every region. is up 5%. it's a low supply of existing homes so folks are ordering new homes. stuart: tractor supply use those stores, down. 6 one. lauren: this is a recession signal, bank of america, and worsening demand, discretionary categories. stuart: who spent a fortune in the place. stuart: domino's pizza. lauren: 14, 483, and the reason is easy. food cost helping bring the price - the cost of pizza down for the company -- the cost of pizza down for the company and the deal with uber to deliver them. stuart: -- stuart: i bought it after -- 200 school districts are suing social media companies and students mental health. the company claim the law protects them. lydia will sort it out. lauren: school districts allege social media companies targeting kids with intentionally addictive products. and the resources, and mental health issues. and and children in different mental -- of elemental change are vulnerable to addictive effects of these features, the social media company target them anyway i

pulte capital ceo, whether he agrees with that. >> i think if inflation continues there will be no chance, and that's one of those things that what is held in place. and a little softness in lumber. the market is still on fire, home prices haven't really come down, the stronger were stronger in the week will get weaker. stuart: when people right now, and that raise interest rates. and there's accorded point higher from that. that would be the most and that is it. what do you think? >> what will break the camel's back. if we have one or 2 or 3 interest rates, will we see housing, that's what we know and it is a big part of the us economy. we see a little bit of pickups with these interest rates, maybe then you will get cracking in home prices but haven't seen it yet. what we hear from a lot of customers is some people are not able to follow that but even if these interest rates able to qualify for high-priced homes. neil: the flipside of raising rates, the cost of mortgages, they get price here, the quarter point extends to a host of other rates. do you think the fed can still coordinate t

there's a couple recommendations at toll brothers and pulte, and i'm going to savage these people --ot savage i'm going to say perhaps thooir ill advised, are these people who have price targets for home builders and the price targets are like 40 points away and they raise them by seven. they have to do that every day from now to kingdom come there are very few people who are that off >> adp is a remarkable print now, granted, they have had issues with their model in the past but a lot of it is leisure, hospitality. that's 200,000 right there >> there's no end to the long on money, short on time now, pay chex did say yesterday that they're seeing a mod occ moderation, and they are actually more concerned because rates up has meant that people aren't being as adventurous. >> it would be one thing if it was just adp this morning, but challenger layoffs get cut in half, lowest since october claims, what, two-week high. but it all directionally says the same thing >> right someone was trying to make a case that the mortgages being down 4% matters. no, that's ridiculous. it's just not eno

he missed the fact that housing continued to do well look at pulte and sherwin williams today he missedhe idea that you could conceivably have six companies well ensconced in the trillion and another about to be a trillion he didn't understand the technology had changed generative ai is behind everything from the meta upgrade today to, frankly, a belief that may be -- i spoke with jonathan kantor last night, assistant attorney general for antitrust, that's not going away. >> no. >> the sherman act. >> after the bell we get both microsoft and alphabet and we're going to get a lot of conversation, as you might expect about generative ai for most of those companies. >> yes, incredibly so. nvidia obviously not today generative ai is about something that mike wilson did not understand. >> to be fair, that was a tough one to see coming. >> it was. >> after the break we'll get jim's "mad dash. opening bell 8 1/2 4i7b utz from now. don't go anywhere. at no upfront cost. sometimes you need a second opinion. [coughs] good to go. yeah, i think i'll get a second opinion. all these walls gotta go! a

now on the corporate front, josÉ, we got quarterly results from the pulte home new home c.> u.p.s. and the teamsters union sitting down for more talks today. >> they are. they are negotiating, jose. that's a positive in and of itself. both sides plan to meet again today, which is good, because the last time they met was on july 5th, before both sides became deadlocked and publically accused each other on not negotiating in good faith and walking out. progress has been made on some bigger issues like providing air conditioning in trucks and vans. jose, one of the sticking points remains pay for part-time workers. they are half of u.p.s.'s workforce. >> thank you very much. >>> how the nation will honor emmett till on what would have been his 82nd birthday. emmett te been his 82nd birthday the people who live and work there. because you call these communities home, and we do too. pnc bank. i have moderate to severe crohn's disease. now, there's skyrizi. ♪ things are looking up ♪ ♪ i've got symptom relief ♪ ♪ control of my crohn's means everything to me. ♪ ♪ ♪ control is every

i am blown away by pulte. cancellation so low. they beat them. it was quite one of the best quarters of the entire year. what is incredible tomorrow the feds are likely to raise interest rates. that should be hurting both the margin story and the forecast for homes. yet it is not. every time the fed, it makes it less likely to sell. they lose too much money when that new margin payment is much higher. a massive housing short of supply. and the strength and housing stocks. shirley williams rallies because there is a strong demand for paint coupled with a continued decline in raw cost, more than expensing. expanding margins come when you least expect them, stocks go up big. they also have double digit growth with commercial property maintenance. you know what? residential re-paintings are good. does that make you think that sherwin-williams , instead of being hurt by higher mortgage rates is actually doing quite well? it makes you think that you should be a buyer of bowles and home depot. that was too good a quarter. i continually good quarter if t

raymond james upgrades select names including toll brothers, pulte and lennar ahead of earnings nextk ah, these bills are crazy. she has no idea she's sitting on a goldmine. well she doesn't know that if she owns a life insurance policy of $100,000 or more she can sell all or 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. 76% of 23andme health customers surveyed reported taking healthier actions. because they know health isn't just a future state. health happens now. start your dna-powered health journey today with personalized insights from 23andme. power e*trade's award-winning trading app makes trading easier. with its customizable options chain, easy-to-use tools and paper trading to help sharpen your skills, you can stay on top of the market from wherever you are. e*trade from morgan stanley. power e*trade's easy-to-use tools make complex trading less complicated. custom scans help you find new trading oppor

first up, lennar getting an upgrade from raymond james along with pulte and kb homes.day here with our trades today is david wagner, portfolio manager at capital advisors. what's your take >> i've loved home builders for a very long time i've been overweight there for about the last 15 months, and i think that momentum can continue because it feels like a lot of the positive news coming out fundamentally and macro, you know, is just keep flowing in. just look at the recent data on the resale inventory the number of new listings entering the resell market continues to surprise to the downside i think it was down like 21% year over year just last week alone. i think the existing home inventory environment is going to remain challenged given the fact that 60% of the outstanding mortgages in the u.s. have a rate lower than 4%, and that's relative to current rates of about 7%, so with existing homeowners hesitant to give up their cheap mortgages, home builders have started taking market share away from that resale market and for lennar, the stock we're talking about, they w

lennar up 2/3 of a percent, pulte up half a verse.values will fall 2.4% over the next year as mortgage rates weigh on the markets. where are mortgage rates? according to freddie mac the 30 year average fixed-rate as of july 20th, 6.78%. remember the good old days, january of 2022 when they were at 3.45%? that is part of the big issue here but our "countdown closer" says mortgage rates are headed down, not up and investors with a two-year horizon can reap the rewards on one specific sector. horizon investments cio scott joins us. scott, you might be the only one who thinks mortgage rates are heading down. why? >> liz, thanks for having me. the reason is pretty simple really. the fed is going to be done after wednesday. that means we've seen peak interest rates this cycle. we're having a little bit after growth cycle that means the 10-year interest rate will come down. the other thing affects mortgage rates volatility of interest rates. those definitely will be coming down after the fed is seen to be done. in terms of what would drive m

pulte, terrific quarter. and then toll, which was standout, but the average home, a million bucks. country. go overseas. you will not believe the amount of wealth that they think the average person has now, i think we're bifurcated and these homes are of the province of wealthy, but wow, they're killing it >> yeah. you're saying about going overseas is what you can afford more overseas than you think >> no, no, they don't -- overseas thinks there's one class of people in this country. what they don't realize is there's a second class where this would be a dream unfulfilled. if you tell them that we are a dickensian world, they don't believe it because they only see the traveling people there was a denver flight to reykjavÍk that was, like, we're overbooked and whatever. everywhere you go, royal caribbean, norwegian cruise, delta, american, we're filled, because we are traveling like there's no tomorrow. >> yeah. that's one thing that rates really can't move is your appetite to travel >> no, and that's because we didn't get a lot of money in, and we have a huge amount of money comin