here to discuss this is adam parker, research founder and a cnbc contributor. looking on the surface, not a lot to complaining about. 5,500 on the s&p. the vix is below 12 as it's trading right now. the macro seems quiet enough for stocks to rotate and do their thing. is there anything you would look at and say we're missing something here? the market maybe is either too complacent about something or it's got it right? >> we are not going to appreciate every quarter the way we did q4 last year, q1 this year. we will take whatever, 4% and change every quarter. forever would be fine. i think that the three kind of bold sort of legs of the stool, margins up for the average company. you look at chicago fed or the bloomberg financial conditions look pretty easy. and this dream of a.i. earnings growth, years three through ten, seems pretty dreamy, right. so i think that's intact. we will see. i am not expecting to get any minimum wage prerelease on earnings this week. it's a weird week with the holiday in the middle of the week. normally, you worry about a reset the

let's ask adam parker, ceo of trivaret research. good to have you here. that is a question, right? there seems to be more questions now, adam, about the state of the economy and where we're going to go from here. we've come a long way. market's done real well in the first half of the year. now what this is. >> well, i think the fed commentary tomorrow will matter, for sure. no big earnings prerelease. i my suspicion is september is when you'll see downward revisions. the numbers for the second half of the year are still too high. >> you think they're too high? >> yeah, and too high for next year. 14.5% growth is what's in the numbers for 2025. >> you think the market multiple is too high as well, 20 plus times? >> yeah. i think you walk in the door now and you say, okay, what do i need to believe to get 10% plus upside, 6100 on the s&p, right? i have to look at '26 or '27 earnings or embed a lot of multiples. that's why people have been cautious. the question is, does the narrative change at all about the dream a.i. can give beyond earnings in theout years? if that narrative changes

parker and sam stein. we have some breaking news, this is adam schiff who's running for senate in california just saying nowting, quote, serious concerns that he can win. >> yes, this -- he is articulating what so many democrats, senators, house members, strategists, pollsters, lawmakers and voters, voters who have been saying this publicly, frankly, for over a year, but what they're all saying privately and now you're getting a drip, drip, drip. schiff is obviously a huge one. it's not quite, say, a nancy pelosi coming out publicly. >> we haven't heard nancy pelosi come out publicly to say enough of the conversation, which also says something, doesn't it? >> and schiff's a very close pelosi ally. this is almost like pelosi coming out and saying you need to go. i was just emailing with a senior democrat, and said the party's never been in a darker place than currently, which is saying a lot. it may be dramatic, it may be in the moment but frankly it doesn't seem like there's a clean resolution possible at this juncture. joe biden is stubbornly sticking in the race. he believes he could still win. frankly, t

parker, great to have you on, thank you. coming up, the gop candidate for senate in california says he convinced on adam schiff supporter to voteim instead this november. that candidate is steve garvey and his newest voter with him live next, right here on set. plus, check out this dog who might just be the next lebron james. and roaring rapids riders at six flags over texas get more of an adventure than bargain for. the days best viral videos next. [♪♪] ♪ ♪ have you always had trouble losing weight and keeping it off? same. discover the power of wegovy®. ♪ ♪ with wegovy®, i lost 35 pounds. and some lost over 46 pounds. ♪ ♪ and i'm keeping the weight off. wegovy® helps you lose weight and keep it off. i'm reducing my risk. wegovy® is the only fda-approved weight-management medicine that's proven to reduce risk of major cardiovascular events in adults with known heart disease and with either obesity or overweight. wegovy® shouldn't be used with semaglutide or glp-1 medicines. don't take wegovy® if you or your family had medullary thyroid cancer, multiple endocrine neoplasia syndrome type 2, or if allergic to it. stop wegovy® and