michael farr of hightower advisers. great to see you, michael. start with lowe's, higher today after better than expected second quarter results. what's the trade here? >> i'm long lowe's, i've owned it for a long time, i'm happy i've owned it for a long time. i liked the earnings report today, i think management is doing a good job, 15 times earnings, growing earnings at 12%, kelly. they've been growing online and they've reduced expenses and reduced what they call shrink, the shoplifting. they're managing that better with rfid, gadgets inside the power tools that won't work if you steal them. i like this stock. >> let's move to co-america. s&p global cutting its rating on the firm. what's the trade here? >> i'm a seller, tyler. look, all of these smaller banks, and this comes as a smaller bank, have a very difficult operating environment, basically, you know, lending money, borrowing money, taking in deposits. it's very expensive. they've got risk of deposit flight. the bigger banks at least have multiple lines of revenues. i think they'll be s

downgrade from fitch the dow near session lows, the nasdaq down 2% we turn to cnbc contributor, michael farr's good to see you. do you think the market is overreacting or underreacting? >> i >>> there's a problem, right the debt is increasing, and the cost of servicing that debt is going higher it doesn't take a rocket scientist or harvard mba to say that's probably not sustainable. >> not as big of a market impact, but also not usually that -- or maybe i'm misremembering i node from brian reynolds this morning he thinks a lot of institutions are chasing this market higher, and as they continue, you could see stocks generally move to the upside. >> path of least yeance -- financial is sound, house sergeant sound, the consumer may be running out of wallet, vis-a-vis inflation, but the inflation is begin to go moderate there's signs of a soft landing. you are to have carb, companies are still earn money we're not in a crisis, but we shouldn't ignore it. we've got to pay attention to this, kelly. we can't deet racking up the debt on and on without a plan here it seems like lost sides of the ais