let's start with bob pisani.est in the. >> we tried earlier in the day to break out on a new trading range. the s&p is on the verge of breaking out since early may and it's had trouble sustaining that and as welly mentioned it's due to semiconductors. that was right around the highest levels since early may, believe it or not and what happened was semiconductors basically gave it up nvidia was weak right after the revenue warnings there, but a lot of the other semiconductors were positive earlier in the day and just started heading south about three hours ago and that's when the overall market drooped on that. so amd moved down, intel, micron and all of the semiconductor names moved to the down side big-cap tech has been down since the late morning and not down dramatically and microsoft and down, and microsoft is the worst one down 9%. at the same time the more speculative group have held most of their gains and they're off of their highs and they've held most of their games, twilio, roku, tesla, teladoc how muc

, with the doubt dropping more than 200 points, and nasdaq down 1.5% at the lowest let's get to bob pisani at the nor stock exchange with the latest bob? >> yeah, no recession now. the concern is there may be one down the road if the fed continues to be aggressive that's the topsy-turvy world for the stock market the low print was the open we were on the verge of breaking below 4100 that was right at the open since then we've held on pretty well, actually made a bit of a comeback the nasdaq is the weak one so, remember, a strong economy, and material names free port mcmoran although vat -- and when we see 18 basis points, 1 basis points increase in the ten-year yield, that will get bank stocks going. jpmorgan today some of the big super-regional banks, wells fargo all having a nice move to the up side tech has had an amazing run. it would not be surprising to go it sell off a bit. apple has been terrific recently, it moves up, and doesn't move down much micron -- nvidia is up 20% in the last few weeks, still a pretty modest decline here for some of the big-cap names. the stock market is a

let's begin with bob pisani at the new york stock exchange where stocks now, bob, are near session lowsyes we're essentially at the session lows down 23 isn't a big push down for the s&p, but there's no bid at all in the market there has not been for frankly, almost two weeks and not just last friday, but for several weeks now weave've been in a downtrend. energy stocks are on the upside most of the day even though oil is below 90. oil is down, but it is not down enough to get everybody excited about oil as a proxy for inflation it's moving down dramatically and not down enough to get people excited. some growth proxies are down and you can watch a stock like freeport mcmorran and that's been moving down in the last few days and that's gotten people more encouraged and it's a proxy for growth and a little bit lower growth prospects another profit for growth and semiconductors have been generally weak in the markets to a certain extent that is good news and if you want to see some kind of signs of weakness and growth at the same time today, big cap tech, and other sectors of big cap tech

let's go to bob pisani at the new york stock exchange, where the dow turned positive, but bob, lower now the important thing here is this is avictory for the bulls, contessa, considering where we started. we were 4017 at the lows at 11:00 eastern time 4046 now and we were positive for a nano u.s. about an hour ago on the s&p what i don't like is the leadership board energy is leading again and remember, these are inflation and the bulls want to see the opposite here and that's a new high for occidental. hess is right near new high and maybe 2% away and common is 3%, 4% from a 52-week high and marathon is on the upside and chevron is helping the dow today. the other thing is these natural gas stocks, there are companies that are more natural gas oriented like apa and pioneer, coterra and pioneer has a natural gas component and that reflects, of course, all these issues going on with natural gas over in europe other than that, it's mostly defensive stocks that have been holding up throughout the morning and rally back the suspects, archer midland, campbell and big-cap tech is to the do

the bottom line, kelly, the rally is broadening out. >> thank you very much, bob pisani let's turn towhich is the center of a lot of when we've been talking about. we're seeing gains as a result, pippa stephens, as a result of the bullishness in the stock market and we don't like it when it extends here and it spoils the better inflation that everyone else is discussing. >> on the national average where it fell below $4 we are seeing oil prices on the move with brent trading back above $100 we did get new data from the international energy agency which now expects demand growth of 2.1 million barrels per day this year. that is higher than prior estimates and much of that is because of soaring oil used for power generation and gas to oil switching. this, of course, as european natural gas futures stay above 200 euros per megawatt hour. a reminder that that's roughly per btu and power prices in france and germany hitting records and now france is no longer europe's top power exporter amid issues with the country's nuclear fleet. had the's check on prices and at 9436 brent crude right ar

why we're seeing stocks mixed after this blockbuster jobs number that for the economy, at least, bob pisanid news >> yeah. it's good news for the economy and it's hard for people to understand that the stock market is a discounting mechanism so it looks six months ahead the reason we're down today is there are concerns that while we're not in any recession now and doesn't appear to be so, maybe down the road the fed will be forced to be more aggressive than investors want and this is the way the stock market thinks and it's a forward-looking mechanism. so if you look at it, the selling pressure is very modest today. the volume is not very heavy and the worst print was right at the open and we were about to break 4100 on the s&p 500 and that didn't happen. we rallied and essentially held on fairly well here and the dow is weak here, but some of the selling has been in the nasdaq, but even here, i would say very modest declines overall. one of the reasons the s&p has held up is because value is doing very well and oil stocks have generally held and oil has been all over the place today. 87 to

us what's really going on steve liesman is listening to ceos and steve kovac from big tech and bob pisanilowing the money on wall street steve liesman, we begin with you. >> thanks, tyler the message from the c suite is more mixed and nuanced and somewhat upbeat than the predictions of recession that we're getting while walmart and best buy have offered sobering negative use, there were a host of other ceos we've had on our air who have found the consumer spending just fine >> if you look at the business itself it's smoking and it's doing really well. >> we're seeing good activity across both the consumer and commercial portfolios, and i think that bodes well for the environment we're in right now >> the summer has been a blockbuster. our forward bookings into the fall looked very strong. we see steady recovery in business travel. >> earnings overall up a decent 7.7% compared with a year ago and all s&p industry sectors are beating on revenue and seven of 11 are beating on earnings goldman sachs, writing in the commentary this morning and management guidance is consistent with continued r

markets future is todd sewn, technical strategist at a baird company, and we're also joined by bob pisani before we talk to big market concepts here, talk to the index investor who owns say a schwab or vanguard or a state street. index 500 mutual fund that is market cap weighted. should they be concerned about that level is there another kind of fund that indexes but is not based on market value >> tyler, great to join you today. it's a fantastic question. if you think back to the mid-2020, '21. there was a lot of coconsternat, names like amazon and meta have declined what has remained consistent are the strength from apple and microsoft. they're 13% of the s&p, the highest in 40 years of dayta if you're passive, you're thankful these stocks are acting well i want to take in mind, your portfolio will be in danger and so i want to look at the equal weight s&p 500 to help balance out, right, that concentration towards apple and microsoft. that's the average stock, a great way to measure how much participation there is and is more reflective of financials, industrials, and energy. if you're

bob pisani has more at the new york stock exchange. >> two big stories today, kelly. first retail relief and secondly another midday rally it keeps chugging along. let me show you the retail stocks today guess what is on the leaderboard on the s&p 500 walmart. number one home depot and target are also up there on the leaderboard. walmart earnings beat comp sales accelerated. they love seeing that. sequentially, highlighted very strong back-to-school season that is very good news home depot also beat they reiterated their full year guidance though we have a slowing market. the bottom line is some relief here that the consumer is still holding up you see target and tjx also on the upside for the overall markets another rally the middle of the day. happened yesterday s&p 500 breaking out to the highest levels really since the end of april and early may. look at the steady move up ever since we bottomed june 16th. why are we rallying so much? because the apocalypse has not materialized three main issues that have prevented the apocalypse from happening. first inflation is

and retail, what is needed to right the ship we begin with today's markets, and bob pisani hey, bob. >> good morning -- good afternoon, tyler take a look at the major averages right now s&p, nasdaq, essentially flat for the month, we're between a trading range on the s&p we don't have -- there's too much uncertainty out there we'll see what goes on here. in terms of what's moving, we have a weak day overall, weak report from nordstrom, that's really weighing on retail. autozone was the same thing. it's weighing on some of the competitors. macy's is still on the down side gap also weak today. energy stocks keeping moving up. this is not good for the bulls they are proxies for inflation when you see occidental, that's a new high, and the stocks that are very related to natural gas activity, lie eqt, devan is a big company, the bulls don't want to see that semiconductor, it's really uncertain. gaming has been weak, data centers are kind of unsearch intel, that's a new low one of few chip stocks. good sign for the bulls is the consumer staples that's a sign that they're nibbling on a bit

let's begin with bob pisani with stocks just off the session lows hello, bob >> contessa, it's not beenwant to show you the s&p 500, we basically fell apart around 10:00 eastern time got some economic data at the time, the jolts report, the job openings report, a lot stronger than people anticipated. consumer confidence was very strong, so to the extent the fed wants a weaker economy, this is not good news for people who are looking for signs of a somewhat weaker economy then we had talk about from some ecb officials about maybe raising rates more than expected next week. that caused another leg down in the market a little bit of good news, if you think of energy as a proxy for inflation, we're finally getting some moves down in crude oil, which has been moving up recently 97 earlier this morning. look at this, we're down noticeably, 91 occidental which has been a new high recently down big today some of the more natural gas oriented energy stocks like apa also down rather noticeably today, and the oil service names like halliburton and schlumberger to the downside material stocks, they

and the trade on affirm, gap and ulta in today's earnings exchange we begin with the markets and bob pisani bob? >> reporter: the market is holding up off of the highs. there daent seem to be too much jitterness the dow, s&p, nasdaq all up. we're up two days in a row off the s&p. we're down for the week but up almost 1% for the month for the s&p. the dow industrials are up fractionally the market is not acting like powell is going to suddenly turn into a new higher level of hawkishness. the growth sectors are bouncing. nvidia opened at 168 now 177. they're focusing on sequential growth in the data center business marvel technology will be out after the bell micron, advanced micro doing well salesforce wasn't that good, trading down, but other big tech all on the upside. i also say markets are holding up well because defensive names, pharmaceutical stocks like bristol-myers and merck and kroger and kimberly-clark are generally down they're buying growth and generally selling defensive names. that's not the sign of a market concerned about much more aggressive rate hikes. the market is not ac

bob pisani this morning, you can always get in on the cnbc investing club with cramer.nd find out more at cnbc.com/jointheclub or use the qr code on your screen as we go to break, woocatching bonds today, plenty of fedspeak in advance ten-year hit 3.8%, the highest since june 29th this morning back in a moment [music - cover of blondie's “dreaming”] [music playing] ♪ dreaming. ♪ ♪ dreaming is free. ♪ >>> fatake a look at some s&p. autodesk, billings up 17, they do reiterate the guide cruise lines have been leading the pack overall up 12 inpots back in a moment 's making me get an ice bath again. what do you mean? these straps are mind-blowing! they collect hundreds of data points like hrv and rem sleep, so you know all you need for recovery. and you are? i'm an investor...in invesco qqq, a fund that gives me access to... nasdaq 100 innovations like... wearable training optimization tech. uh, how long are you... i'm done. i'm okay. this is xfinity rewards. our way of showing our appreciation. with rewards of all shapes and sizes. [ cheers ] are we actually going? yes!! a

bob pisani with as markets have turned around. b >> the bottom line here, contessa, is that the markets are getting smacked around by two things a lot of fed-speak and nervousness over taiwan, but the sense of nervousness is out there. you see we were up during the day. in the middle of the day we have comments from loretta messner about the market here. the fed officials are furiously trying to talk down this idea that they're done with the rate hike cycle during the end of the year and somehow they'll start cutting rates in 2023. they don't like this idea, and they're trying to talk it down, so loretta was saying they had more work to do. mary daly said the fed is not winding down rate hikes. or in any way, mr. evans over at the chicago fed said he might be okay, you get the idea we're not done we're going to keep going, trying to talk this down that moved the markets down eight bit. the bond yields have moved up. for example, so some of the big downside moves are p limit te, lennar, all notely w notably weaker even good earnings

markets on stocks, bonds, commodities and the massive move in natural gas and the implications there bob pisanit off for us bob, what do you make of these markets? a lot of divergence today. >> yes, flattish overall and on the advance-decline line and energy is moving and big tech is as well. take a look at sisco sisco symptoms was not a great earnings report and chuck robbins was talking about strong demand and that's had a nice day and they make chips for electric vehicles and most of the other chip names are moving along, too. micron, advanced micro the chips haven't been a big factor in the rally. she was mentioning natural gas here the s&p energy sector and highest levels rid now since the middle of june and energy was moribund for a while there and it was having a big day and oil is at 91, and devon, marathon, shay shay and these are high-beta energy names when you get to factors like commodity moving where are we on the s&p? frankly, we're nowhere on the s&p and remember, we've had a terrific one and two or three weeks prior to that the s&p moved about 10%. so time for a pause here and t

and bob pisani at the new york stock exchange bob? >> hello, jon. we are trying to establish a higher trading range for the s&p and nasdaq a struggle today, but 4150 to 4200 looked like where we were headed same with a nasdaq d dow's not quite breaking out some sectors are out of favor. what's in favor? technology really for the last month or so. ark's been on a tear flattish today banks have been flattish consumer staples, a little out of favor and energy is really out of favor we were about $90 on oil yesterday. we're 87 and change now. some of these big names are just getting clobbered today. oil topped out in early june and really things have changed significantly since then so the s&p is up fractionally. maybe 2% since oil topped out in early june let me just show you that. technology is up 5 or 6% since early june and energy's down 17%. so the market wants growth it wants more technology and less to do with value and energy one of the problems is oil company profits are expected to be lower in 2023 so big names like occidental and exxon and ch

let's get to bob pisani. >> important story, oil below 90 the market is showing its preferences againlue. take a look at the sectors today. there's an incredible run of technology stocks we've had. cathie wood's ark fund is on a real tear. tech is there. and what don't they want energy this is growth overvalue and even defensive names are not that interesting peak travel, peak oil. peak travel, the numbers were good july looked a little weak. maybe it was cancellations overall here, but did you see lufthansa? they talked about forward bookings august and december, 83% of prepandemic levels. they're pretty optimistic. this is lufthansa, which has had an awful sum we are cancellation, and they made some positive comments on travel. peak oil is a lot more interesting. have you seen what's going on? since oil topped early part of june and seen what's happened since then, what the market has been doing, essentially forget about oil. oil is well gone here. since june 3rd, up 1% in the s&p, tech is up 5%, energy is down 17% what does this tell you? the reason this is happening is wall street

david, back to you >> thank you, bob pisani, leaving us in a good place to take a look at the bond marketbefore we head to break and before chair powell's remarks at jackson hole we're at 3.045, the two-year note is still well above the yield of 3.372%. not bad for a cd rate if you want to get one. >> i did, i bought a lot of two and three-year >> did you >> absolutely. >>> we're back right after this. another busy day? of course - you're a cio in 2022. but you're ready. because you've got the next generation in global secure networking from comcast business. with fully integrated security solutions all in one place. so you're covered. on-premise and in the cloud. you can run things the way you want - your team, ours or a mix of both. with the nation's largest ip converged network. from the most innovative company. bring on today with comcast business. powering possibilities. .. >>> well, it is official the agreement with china on audit inspections, you heard from chair gensler of the s.e.c., and look at the week there had been some advance reporting about the possibility. >> jpmorgan rep

should we go to bob pisani and get more on what's going on in the broader market you okay with that >'m cool with it. >> you out there, bob? >> the important thing is i'm staring at oil we're about to break $87 in oil here we're talking about the lowest levels since february for that, and of course, that's weighing on energy. take alic at the big sectors here no surprise, energy the big dec decliner, and some of the big names jim was mentioning on the downside china also weighing on the markets a bit early on if you look at the semi-conductors for example, they're holding up the semi-conductor etf just went positive cathie wood's ark positive early on wrrg rather amazing it was positive right at the open there, so that's holding up fairly well. energy stocks, jim is right, 4%, 5% decline in the higher beta names, apa, halliburton, schlumberger, they tend to move more than the overall market down about 5% overall. the big debate over the weekend, what kind of rally is this is this a new bull market or is this a bear market rally a lot of big market technicians were commenting about the

across stocks, bonds, commodities and a closer look at today's big drop for oil we'll start with bob pisaniock exchange bob? >> this is an extraordinary day, kelly. i mean, look at this we are positive. we have disappointing china data overnight and we have crumby empire manufacturing number, the new orders are terrible and then we had lousy housing data. you'd think, my heaven, this would be a flat to down day ask we and we're knocking on the door of the s&p 500 we'll put up some of the dow stocks we have consumer names are up, procter & gamble is up, fintechs are up and most of the mega-cap tech sectors are up fractionally and look at the other group and the consumer discretionary and this is a group that's been a leadership group and the autos is up and starbucks is up fractionally and these all have had really nice moves. what's down? the stuff people love is down, because oil, as kelly mention side down $90 as kelly mention like schlumberger and they're high-beta names and nobody care because this is an inflation proxy and they're loving it when the stuff goes down and the bulls are ri

let's get you caught up on stocks, bonds and commodities, and we will begin with bob pisani at post nineou look at stocks, bob, right now on track for their worst day in two months? >> yeah. really since the june 16th low we are essentially at the lows for the day and whenever you get these comments from powell where you have growth concerns or you get interest rate scares it's always tech that gets hurt the most and it's also speculative tech that moves down the most so you have big moves down here in unity, block, teledoc, and this is all kathie woods, broader tech more profitable tech and big tech down 2%, 3%, 4% interestingly, apple and microsoft usually hold up better they often perform in line with the market on down days and that is happening today you see nvidia up pretty big and still weighing on them beating inflation mr. powell said involves some pain to the consumer and homebuilders are definitely getting hit today and we saw pulte, dr horton and remember, we saw big moves with some of these names and lennar was 64 and it's now come down of a little bit these stocks have outp

we have bob pisani after the market is moving well off its lows after the minute, bob >> normally there a bit of a snooze in terms of the move on the markets and look, we moved 15, 16, 17 points on the s&p 500 and yields move down a lot of traders messaged me some lines that they all wanted to see in here and maybe, they got more hope in them and here are some of the highlights in the fed minutes. many concerned and we're talking about fed officials about tightening too much. oh, the bulls love hearing that and also likely to slow the tightening pace at some point. so those are hopium and that will slow down further in the year and eventually the possibility of a fed pivot in 2023 and the s&p 500 is moving up here. in terms of what's moving throughout the day and retail is doing well and sectors that have gotten big moves up and they're down a little bit today and arc innovations had a tremendous run. the transports have been on fair and even the small cap russell 2000 has been on fire and a little bit of understandable profit taking here in terms of retail, some retail is down and no

let's start with bob pisani who is at the new york stock exchange are stocks gaining a bit of steam herehe last 20 minutes? >> yeah. just a little bit. the problem is we don't have escape velocity. we're stuck in a range look at the s&p. we've been 4100 to 4300 for several weeks now essentially and what we've got to do is we've got to get through powell's speech on friday and first, we have to get through the nvidia announcement. a lot of the market, frankly, floundering around and marvel will be reporting tomorrow remember, we have all of these issues out and beta centers have been unsure. so we have a clearer view of what's going on from the semi business from nvidia that's a new low, in fact, that's a five-year low for retail you would have thought the inflation issues were behind aus bit. i'm rather surprised that nord stom is down 20% the do it yourself business was hit by inflation and high fuel prices didn't we know that already, though macy's is still down after its earnings so this is an ongoing in a correction in the retail spags. energy, we've been talking about these natural

spending with the ceo of vivid seats with the dow at fresh session lows here, let's start with bob pisani at the new york stock exchange bob. >> lows for the day and the s&p is faring a lot worse than the dow today and essentially we've been moving sideways for a number of days i just want to show you the big semiconductor names that are out there. micron, remember, has had a tough time this year it's down about 35%, but on the comments they made yesterday, down 4.7%. today nvidia's down another 4% it could have been a lot worse just remember, a lot of people were saying much of the worst-case scenario is already behind us. you see some of the semiconductor capital equipment names like applied materials, asml holdings, lam lrch down even more than that at this point, so keep an eye on that. airlines have been really strong recently, and they've had a great run. they're giving back a lot of the gains today, some of the other travel stocks are down, norwegian cruise lines, some disappointing commentary, that's down 10 or 11%, and that's affecting royal caribbean as well one of the bright sp

commodities and whatever else there is the bullish investors are in for a rude awakening let's begin with bob pisanihings turned lower about this time yesterday, bob. >> yeah, and we're treading water. the dow has been underperforming because united health is significantly underperforming. 60 or 70 points of the dow's decline is due to united health. what's outperforming is energy stocks a lot of people are unhappy when they see this happening. energy is a proxy for inflation. we're at two-month highs for the s&p 500 energy index we've been creeping up in energy stocks recently. natural gas 14-year highs. this is not helpful to the bulls who want to see oil as a proxy for inflation, and nat gas as a proxy for inflation comes down elsewhere big tech, it's down about 4% in the last week or so. a major reason we've been down is a correction in growth stocks some of the selling may be exhausted, at least short-term big pharma big mover in the last week or so they've held up very, very well. it's an interesting sign that today, that's the week a sector of big pharmaceutical stocks in addition to the sub

stocks let's bring in jeff killburg at sanctuary wealth and a cnbc contributor and joined by our own bob pisani welcome to you both. bob, i'll start with you, what are the traders saying about these moves? >> the most obvious explanation this is a return of more speculative activity that is not necessarily welcomed the fed will notice this kind of thing if it goes on, but i would notice, friday we were 39 in game stop and went to 48 yesterday and 39 40 today they're selling into this. maybe that's good news when this happened a year and a half ago people said, isn't this a sign that fundamentals don't matter with gamestop they're not trading on fundamentals you can get stocks move outside of fundamentals, this happens frequently in the 1990s art crawford a friend of cnbc came on with finally astrollology in the long run the reason you own stocks for 400 years is for a future stream of dividends and potentially earnings that could turn into dividends some kind of cashback i don't think that's going to change for a vast part of the stock market >> although jeff, part of the fun has been watching

commodities and the whole kit and caboodle and the prediction of where oil can go next let's begin as bob pisanipicking up steam >> jim bullard wants rates higher for longer and the stock market doesn't seem to be bothered by that we are breaking out, folks opinion take a look at the s&p 500 and 4160 and that's the highest level since early june for the s&p and techs, the rally leadership traders want growth. tech spdr, and the xlk the highest level since early may and krcathie woods' ark funds a doing well and lam research is up 25% and big moves there nvidia is coming up there. cathie woods is having a mini renaissance and look at these stocks and unity software, twilio, all rather aggressively on the upside again today. what they want, they don't want energy stocks even though we had good earnings reports today from occidental we had some names and pion ear raised the dividend 1% and they sold into it and other big names in the markets down on oil and $91 rate now peopl and people don't think profits will be as high as they think. they're shooting against jim bullard. the earnings are lower f

we'll start with bob pisani down at the new york stock exchange pretty much near session highs all dayb >> yes in fact, it's been remarkably steady rates down, stocks up, vix at 20 or sometimes below 20 today. keep an eye on that and that's an interesting development they're going up once again and it's a broad rally and the tendency is still toward the cyclical sectors and we're seeing consumer discretionary stocks strong throughout the day. you're seeing tech stocks strong communication services and this is the cyclical and growth areas that the markets like for so long and energy has been lagging because oil has been stuck at $89 earlier today. it's moved up here toward $91. a bit of a mixed picture for energy today and i mentioned big tech a terrific day overall apple has been breaking out and that's been the strongest of the tech names and elsewhere, broad movers in the discretionary groups and we're seeing travel stocks do well and some of the cruise ships have done well and airlines once again resuming and they've had a great little run and are now resuming that move and they've

halftime's back in two >>> welcome to the etf edge portion of halftime report i'm bob pisani there is a wave of single stock etfs descending on the marketplace. these aren't your grandma's etfs, these single stock etfs allow investors to leverage long and to bet short against individual stocks. this currently single stock etfs that have just been launched for tesla, apple, coinbase, nike, pfizer, paypal, nvidia, more are coming there are now five single stock tesla etfs, fave of them four of these launched just last week let's talk to the two men who launched them. will ryan, the ceo of granite shares, dave masa the managing director and head of product dave, i'll start with you. you launched four single stock etfs last week, two for apple, two for tesla. your tesla daily bull etf gets investors 1.5 times tesla's daily return how would you describe the trading? what's going on and who are you targeting this product to considering it resets every day? >> yeah, you're absolutely right, bob this is really a new wave of innovation in the etf space and primarily our tesla fund tsll has see

are they winning it quickly enough that's the question, bob pisani. thank you. >>> sticking with today's bearish tone, morgan stanley making a bold call for the rest of the year saying now is the time for patience and building dry powder this bear market in our view has one last act, they say are they right if so, where should investors look for opportunities joining me kevin ma the president and cio at honey and walsh asset management why one last act >> i think it's clear right now that market is very uncertain about what the federal reserve is going to do over their last three meetings of 2022 if, in fact, they turn less hawkish, not dovish, but less hawkish than many believe, i think that provides a tailwind for the stock market if they raise by 75 basis points in september, and perhaps even 50 basis points in november or december, i think that could cause the market to retrench again. regardless, we are in a decelerating economy right now investors would be wise to position themselves for slowing economic growth. >> okay. so is jackson hole mostl

. >>> welcome to the etf edge portion of halftime report, i'm bob pisani bitcoin down almost 50% thisnd a bitcoin etf may still be way on the back burner, but several new crypto etfs have just launched. horizon kinetics launched the blockchain, actively managed fund on thursday charles schwab launched the etf that tracks an index of global exposure to companies that may benefit from the development of cryptocurrencies why now with bitcoin down 50% on the year let's talk with the managing director and head of equity product management and innovation at schwab asset management david, bitcoin's up today, i see, but it's lost two-thirds of its value really since november 2021 why now with the cryptocurrency fund >> you know, bob, for us it's not about timing the market with a product launch like this it's really taking the insights we gain from investors as to what they're looking for in exposures in their portfolio for the long-term. we then take that, combine it with our expertise and our scale, and look to bring a product to market that we think is going to survive for the long-term an

. >> but the broader market is up, up shatterly with the nasdaq with a 2% game bob pisani has more insight morning. >> the interest rate is down, dollar is down, good morning for the bulls what they're going for here is cyclicals and growth stocks so consumer discretionary is up. communications services, tech's up oil is flat today at $89 not a big reaction to the cpi on the oil front, but cyclical and growth stocks, if you look at the big tech, amazon is at the highest level at the open. apple has looking terrific rece recently 168 is the highest level since early april. microsoft is looking good, so big tech is looking good cathie wood's ark fund is moving as well. the airlines are up, the cruise lines are up, home builders are generally up, and discretionary in the automotive sector, general motors has been doing well recently. ford has been doing fantastic recently we're in a higher trading range at 4195, heading toward 4200 remember what happened in april/june that was the period of maximum anx anxiety. the bottom was the middle of june we have come well off the lows, and breaking out

let's get to bob pisani. ery defensive tone to the market speaking of procter, they are holding up things, coke, merckx, a defensive tone consumer staples leading that tells you it's a little bit of a defensive tone for the market here. tech is flattish you see the metals and mining stocks and commodities like energy down. it's curious to me, i want to -- carl mentioned a i want to mention that futures dropped when we got word of the apple four-part bond deal just before 8:00 a.m. eastern time and even oiled dropped, and i'm not sure they are related. remember, the idea is you float the deal now when interest rates are low and maybe they will be going back up. apple has a reputation for knowing what they are doing in terms of the timing for the kinds of bond offers, so maybe this signals the move down in rates is over, i don't know, but we did drop on the futures as we got the word as for the july real 9.1% gain in the s&p two things that happened there bulls convinced a lot of people that there was going to b

let's get to bob pisani. >> on warren buffett's birthday, the essays of warren buffett, one of the topbooks. take a look at the major movers. cathy woods ark fund doing a little bit, they're going for the slightly growth here parts of the market. that's a good sign that's a reversal of what's happened as carl referenced, you see energy down about 2.5% i want to point out what a big decline these energy stocks are. they've had a big run. occidental, new high yesterday, down 4%. hess was 2% from the new high. down 2%. exxon is down. chevron is down. and nat gas-oriented stocks. apa, that stock went from 30 to 40 in a couple of weeks. it was 42 yesterday. so big, big runs in these nat gas stocks all getting down -- all down a little bit more than the market as always, the issue is the fed, we need confirmation, inflation is peaking and commodities haven't been helpful this month. oil is flat, down 3%, maybe, right now. we're seeing some other things, nat gas is up 10%. energy stocks have been on a big tear i just showed you there, except for today. they're up 7% for the month. that's a bi

. >> bob pisani has more on today's moves. >> a look at the sectors here, and the commodity story iss down here, mosaic talk, about good demand they like it when commodity stocks come down here very curious about tech. catty wood's ark fund is doing wet today. you can't be surprised by the summer doldrums. they need more evidence of this fabled soft landing, but they don't have it yet. shipment prices lower. we need more the big risk is that inflation stays high. still high here, so in terms of the earnings, i was very encouraged by the demand side. >> i was encouraged by what i heard here it talked about volume and prices up. a lot of talk about supply chain issues still out there overall sum minks said the jim was really emphasizing that when he was on with us again, encouraged by the fact if there was really a problem with the consumer, they would have noticed from the companies if it was really a problem, they would be going much, not down. base rents had been rising the leasing momentum is accelerating and they raised the dividend to 6.4%, the dividend yield here in six consecut

we have to get to bob pisani >> estee lauder is down the conference call is everything >> bob, he is takestee lauder down >> i think very important moves up in the energy stocks. take a look at the sectors you saw overnight president xi made comments in china insisting they're going to open up and immediately we saw oil move up we saw copper move up. the energy stocks. you see here all the unusual names, all moving up here on the xi comments. reminding everybody how important china s transports have just had a great run recently they're still strong utilities have had a great run they're still strong ar ark has been down three days in a row. that is losing a little steam right now. we're stalling out a little bit. we had this amazing run in the last six weeks or so this is the perfect scenario now. everybody believes that we're going to engineer a soft landing or a very mild recession and in inflation is going to slowly come down so a lot of perfection is priced into the market. it's expensive now 18, 19 times forward earnings. a lot has to go right for things to keep up into these l

bob pisani is here first of all, just nice to see you. >> always a pleasure. >> s&p is down 10.1% forully good for a lot of people, 6 to 1 in advance/decline line with the new york stock exchange is actually on a real big rally, an upslope for the last three, four weeks. that means more stocks are advancing than declines. it's not just tech stocks. it's broadening out. all 11 sector are up today the key store is they want cyclical, they want growth talks. catty wood is just on a tear for the last month she must be ecstatic she's back in a big way. retail largely, of course, part of the consumer discretionary group, strong communication services, strong as well with semiconductors this is growth/cyclical stuff. but overall the market is starting to broaden a bit. look at some of these consumers names that have been down in the dumps for a while. tapestry, nike, best buy, even simon property, some of the reits are up this is what i mean when i say a broadening it's not just technology stocks. what does it mean here when you see the s&p 500 at the highest level since may, you might say y

. >> thank you, bob pisani. we will look at the gold market before we break.the two-year is the key here. and 3.48, and we have not seen that since june. >> june 16th. >> and well above the 10-year yield at 2.879. we are back after this. to adapt in a fast changing world, you could hire a professional pit crew. go, go, go. sorry. nope. okay. fresh donuts - hot coffee! they deliver real time data and business forecasts when you need it. i think it was fine how it was. (air tool sound) to help you stay ahead of the curve... or you could use workday. the finance, hr and planning system that helps cfos make better decisions faster. on the other hand, we had a great fourth quarter. for a accelerate your decision-making world. workday. for a changing world. in the next second, fourteen families will decide... that's it. we're getting a bigger house! finally. but we got to sell this place. before we buy the next place. and then, in the meantime. so, how long are you staying? emily no! ooh a little cramped. i am cpap man. that is not a toy! or skip the in-laws. sell a

bob pisani has more. >> we've tried to rally several times.2 # 1 on the s&p, right at the open we've broken through that. the problem is simple, the bulls have tried to mount a rally several times but they don't have the buying power. there's not enough buying interest after what powell said on friday. sectors problems, you don't want to see energy leaving the market proxy for inflation. big movers are all tech stocks cathie wood's art fund tried and got into positive territory, but has since fallen back. so have semiconductors, and communications services, here's the growth parts of the market falling back, at the same time, energy is mounting another big rally, and really as i said don't want to see that occidental, that's happened several times, 2% from a new high, 127. exxon's probably 103, 104, 4% from the new high, marathon also moving the big issue that everybody was dealing with over the weekend is, what's next after jay powell we're entering a seasonally weak period right now, september is seasonally weak, that's going to matter now i