contessa, tyler?> back to the stellara drug, i wonder whether that is such a high competition area that that may be one of the reasons that drug didn't meet the objectives? >> it is high competition. it will be facing some similars coming up. that's a big thing with a lot of these drugs. we have seen it with humera, which has had a slow ramp-up, but i saw one report that within the last few days that abvi medication has seen the bio similars really ramp up because cvs endorsed one of the sandos versions starting april 1st. we think those numbers are going to climb. >> very interesting. ber that couples, thank you very much. >>> we have live nation feeling sort of like dead nation right now. dom chu? >> as live nation. taped nation. so tyler, contessa, so the reason why the stock is dropping, it's the possibility of what an anti-trust case will do to that stock. it will right now be the biggest mover in the downside the entire s&p. you can see down 8%. those shares are down in large part because of tha

alongside contessa brewer. i'm tyler mathisen stocks rebounding, continuing to turn around.hat started late morning yesterday. the nasdaq the outperformer yesterday. boosted by earnings by microsoft and especially google. alphabet up more than 10% today, as you see right there we'll have more on those results coming. >> and what we're seeing here is that today's game is really pushing alphabet into the $2 million market cap along with microsoft and nvidia all the major averages set to end this week with gains the nasdaq up more than 4% you can see that big drop yesterday morning and then that steady rebound yesterday and into today's session we'll keep our eye on that, tyler. >> all right let's start with a number helping to clear the way for this rally after yesterday's worrying gdp report. the markets seemed to like what they saw in this morning's pce that's an inflation number steve joins us now with a little bit more what did they like and you started to explain this in the last hour or two, and i'd love to hear you continue. what is the difference between pce and cpi an

contessa? >> seema, thank you for the update there. >>> coming up, c-suite ceos are getting caught up in hot button political issues. it costs the company big time. think personal security. ncrernpor into that when we luh tus. something amazing is happening here. climate researchers are weathering a data storm. that's because cdw transformed their devices and infrastructure with lenovo thinkpads and powerful edge to cloud solutions, delivering faster insights and increased performance, giving them the scale to stay ready for whatever's next. make amazing happen. lenovo and cdw. the stock market does. in fact, most people don't find them all that exciting. but, if you're looking for the potential for consistent income that's federally tax-free. now is an excellent time to consider municipal bonds from hennion & walsh. if you have at least $10,000 to invest, call and talk with one of our bond specialists at 1-800-217-3217. we'll send you our exclusive bond guide, free with details about how bonds

. >>> travelers with higher-than-expected catastrophe losses, dropping 7%, worse since 2020 contessa brewer is here to talk about the numbers. >> the shares slumped. they didn't bounce back. the executives were laying out ways that the financial picture has improved, its return on equity, net investment income, up double digits and hiked dividend by 5% catastrophe losses were significant. 712 million. most of that from thunderstorms. here's the thing travelers is hiking the rates on premiums underwriting results improved dramatically when asked on the call whether travelers has achieved enough on rates for those increases to begin to decelerate, the answer was not really travelers said in auto insurance prices go very gradually moderate on property insurance rates are going to continue to increase in response to elevated costs of paying out claims. there's two things i want to point out. this will matter to other insurers travp v travelers says the materials and labor and replacement costs have come down from last year they're still generally higher lawsuits continue to be a real cha

contessa brewer has the latest. good morning. >> good morning, frank. doing the calculus of how the standoff with israel and iran plays out. insurers took action months ago. in january, global carriers started writing in clauses around war because there is an estimated $10 billion in exposure at stake in and around israel for political risk and terrorism policies alone. marine insurance has soared. impacting shipping costs. charges 10 to 15 times higher if you ship through the red sea and suez canal. aviation insurance is the same. remember, the war exclusions are still present. a major reinsurance business is impacted. the ceo said he is weighing the risks for assets and liabilities. on the liability side, this is the exposure for the customers. on the asset side, investment portfolios are conservative. they are made up of bonds which can be impacted by economic shifts and changes in interest rates and foreign exchange. it is the swiss re and hannover re has limits on exposexposure. the risk monitor warns the escalation in the middle east will impact b

we have contessa brewer at cnbc hq. >> i think this is an interesting concept. you have the arcade giant dave & buster's offering social wagering on its app. once this launches in the next few months, it could mean $5 wager on the hot shotz basketball game or skeeball. the company's share price is up 50% over the past year and the new technology, the company thinks could increase engagement from 5 million loyalty members and 30 million unique visitors annually, to 200 venues. it is partnering with a software company that specializes in real money concepts that bypasses gambling and licensing regulations. it allows you to bet on your own tennis matches. social gaming is a $6 billion industry. we will get more details on what this looks like from dave & buster's before the platform launches. for now, it willgive the members unrivalled gaming experience. something new to see. it won't look like a casino. it will look like an arcade. the gaming floor and casino is something you can see interchangeably. >> you know, i don't go to many casinos. i know it is your beat.

contessa, thank you. contessa brewer. >>> up next, "calls of the day." we will discuss next. (♪♪) at enterprise mobility, our experts always see another road. because when there's no limit to how far mobility can go, there's no limit to how far businesses can go. (♪♪) new projects means new project managers. you need to hire. i need indeed. indeed you do. when you sponsor a job, you immediately get your shortlist of quality candidates, whose resumes on indeed match your job criteria. visit indeed.com/hire and get started today. ♪ >>> all right. "calls of the day." josh, we start with you. uber has been called the best idea into earnings this year at jpmorgan, price target, $95. overweight's the rating. has a strong three-year outlook and, i mean, the outlook in the last year has been ridiculous, too. they have earnings coming up in a few weeks. >> yeah, well, this is the fourth best stock of all of last year after nvidia, i think constellation brands is in the list and one other. it was only uber. i've been relentlessly pounding my hand. one of the last

. >> actually, it's tyler and contessa today. but let me ask you a question, rick. where inflation is now, does the fed need to merely be patient and assume that keeping rates where they are for a little longer, a little higher, is going to wring the last drops out of inflation, or does the fed need to raise rates? >> well, i think the whole hypothesis of wringing the last few drops out is where the flaw is. how do we know it's not going to stabilize close to 2% but not at 2% and move higher down the road? there's a lot of issues where it's sticky, whether it's home insurance, car insurance. i know my premiums have gone up. do you really think they're going back down? to answer your question, i'm not going to guess what the fed is going to do. i'm not going to pay that game. what should the fed do? hey, 2% is their target. i understand that. but the big issue here is even if inflation gets close to that, they're going to have to be careful. i think inflation is going to be bumpy versus the way it was flatlining pre-covid. >> thanks very much. >>> if we turn from inf

bell market zone senior markets commentator mar santelli is here to brake brai down the day and contessaegas sands an we have the earnings coming up at the top of the hour michael, to you first, we ar hanging around this market >> in general, the tape is heavy. a couple of rallies were knocked down there was not a lot of urgen get me out it is just a lot of up and down. it is really about just semi getting hit today. that's okay. so we almost have a 5% pullbac in the s & p peaked at 4.5 or there abouts. what is supposed to be accomplished in a typical 5% pullback, you get sentiment of the board, reassess th fundamental story that got u here i don't think there is a major rethink if bonds will stay tame. you did get treasuries responding to being oversold >> you ratchet up th nervousness if you hit the 5 pullback level then you start looking a literal levels of things lik the s & p where we were just a or above 5,000 and then we have rallied ove the last couple of hours >> we will try i don't know if i will invest ton of significance in a lasting way but it is part of th testing process.

contessa brewer getting ready. other side of this quick break others can deflate with a single policy change. savvy investors know that gold has stood the test of time as a reliable real asset. so how do you invest in gold? sandstorm gold royalties is a publicly traded company offering a diversified portfolio of mining royalties in one simple investment. learn more about a brighter way to invest in gold at sandstormgold.com. ♪ >>> all right. welcome to "power lunch," everybody. alongside contessa brewer. i'm tyler mathisen stocks rebounding, continuing to turn around. that started late morning yesterday. th

. >> you highlight what contessa was highlighting earlier today she covers the insurance spaces they were bucking the trend in a down market these stocks were higher. mike, as this goes to another you can't have it both ways trade necessarily, in the big broadening we've had, if we change the game on expectations of cuts and economic strength lasting do you need to rethink these kind of moves? there are stocks within these sectors outside of tech that went up a lot. >> the s&p is back on its lows relative to the market cap weighted. we have these kind of false dawns in july and november and a few weeks ago as well, where it seemed as if you were sharing the wealth. it's been yield dependent. the russell 2000 still profitable companies, raises the hurdles for them too much. for whatever reason that's now the trading algorithm, yields up sell small caps. i don't know. i'm more interested in is are the cyclicals beating the defensives and tells you more about the undered pinnings of this rally beyond ai names than to me is the average median stock doing better or worse than the average.

contessa brewer is here with the latest on this. >> yeah, in fact, at one point, melissa, shares of globe life were actually paused, the trading waspaused, because of the volatility, and they fell to their lowest level in more than ten years on that report from fuzzy panda research, disclosing the short position. so, fuzzy panda says there are multiple instances of insurance fraud. they claim were ignored by the management of the last two years. here's the response we got from the company today. they said, we are disappointed to see self-motivated short sellers are driving down stock price. the report was mildly misleading, mixin i ing -- the motivations are driven solely by short-term profits. and they go on to say they take these allegations seriously. they don't stand for any of those misdeeds. meanwhile, we know that the department of justice opened a probe that was disclosed in an 8k in march by the company and globe life says it's been cooperating with the u.s. attorney's office in response to subpoenas that were issued. by the way, we believe that globe life and its subsidiary comp

let's get straight over to contessa brewer.ypal shares are just soaring. it just reported earnings better than expected and said its focus on cost efficiency is paying off. there you're seeing shares up almost 8% in the premarket. 3m beat earnings and revenue estimates, announced it competed a spin-off, finalized two major legal settlements. its shares up 6 .3%. the companies reaffirmed full-year profit guidance and raised revenue guidance, but there you're seeing the shares off slightly, 0.2%, because of warnings about intense inflation in certain markets. of course, that has investors concerned. ceo quincey will join jim on "mad money" tonight. eli lilly shares jumping after raising its full-year guidance and praising the performance of weight loss drugs, says it has more in the pipeline. those shares up about 7% on the day. becky? >> all right, contessa, thank you. >>> mcdonald's reporting its quarterly results this morning as well. we talked about it a little bit ago, but the adjusted earnings per share came in at $2.70. re

cnbc's contessa brewer joins us now. >> hi, kate and zinhle, oakland, california officials voted yesterdayrename the airport to san francisco bay oakland international airport, they want travelers to know how closes to to the bay area but san francisco has a problem with that, in fact threatened to sue oakland for infringing on its airport trade mark. the final vote on the decision is scheduled next month. >>> u.s. steel corp. shareholders just approved the proposed acquisition of the company by japan's napon steel, the transaction is expected to be complete in the third or fourth quarter, but of course the deal faces major hurdles, including opposition from president biden and a reported investigation by the department of justice over antitrust concerns. >>> and taylor swift's music back on tiktok just in time for next week's release of her newest album, the tortured poets department, the platform's users were able to access the music starting yesterday, taylor's music and that of hundreds of artists under universal music group were pulled from tiktok in january over licensing issues but

contessa, do we have any indication of if the fandamonian can continue for next season? >> yes.ve a quarter of betting customers who are women. the sportsbooks think the more women are engaged with women's sports, and it's not just women betting on it, it's also men, but the more women are involved the more an addressable market and an opportunity to meet demand for sports $books. they want women to be involved with women's sports and also betting on women's sports. >> contessa, thank you. should point out, we've had a turn in the market since we opened with the s&p now down some three-quarters of 1%. we'll have a lot more ve market coverage for you straight ahead. don't go anywhere. *trade makes complex trading easier. react to fast-moving markets with dynamic charting and a futures ladder that lets you place, flatten, or reverse orders so you won't miss an opportunity. e*trade from morgan stanley. stevens dribbles up the court... he stops!... for the championship! [crowds cheering] nice shot, marcus! sweet, turn simulation off. tssk, tssk, not so fast. what, why? did you forge

the final book, seeing much between george foreman annual hammer than the in contessa in 1974. the so called fights of the century in front of a 100000 people was on the one hand, a great test to watch whether you were looking for more to don't king. and the level publicity is tons by dictator. mobile tooth specific boxing already had to reach history in africa even though to us influence and steam plays a major role. in 2023, a total of $206.00 boxes. a 142 men and 64 women from 26 african countries, the fort income of one's yelling date for the african elite men's and women's boxing championships. but no combat sport is growing faster than mixed martial up. pleasures with african roots have dominated several weight classes in the ultimate fighting championship in recent years. this include is ryan dis. sonya commodities was fun and frontier some got new. recently switched from an inmate to boxing and now trains with the legends like mike tyson. lot, do you know that and besides this international fighting styles, they are a variety of traditional marshal apps on the continent

>> hi, contessa.urnaround play, despite the run up off the lows, it's still got a long way to go towards highs but this is a value play trading 20 times forward and this year those earnings are set to grow 25%. they have $7 billion in cash, decent balance sheet, 0.4 debt to equity. we like the investment in epic games and fortnite and think the parks, the rebound in the parks, have staying power and the win here, the proxy win, against the activist peltz shows a lot of focus on the side of the board and shareholders and think they've righted the ship. this is a name we like. great american company getting a pullback here in this recent tape is another buy in our wheelhouse. >> let's move on to salesforce which you say stay away from. stock on the decline after reports the company is in talks to acquire informatka. >> i'm going to say i've been notoriously wrong on salesforce, so, you know, this is a tough one because i continue to say it's a sell and the stocking it continues to go higher. i have not

"mad money", i am jim cramer, see >>> i'm contessa brewer in for brian sullivan.all, boeing whistleblowers. that is the blowing whistleblowers laying out shocking allegations in front of congress. one of the lawmakers there joins us here on what happens next. >>> something rare and strange happened in the market today and it could mean the bears are back in charge. >>> waiting on netflix. the one thing that could send the stock storing, or tumbling tomorrow. >>> reporting results that put new u.s.

becky. >>> contessa, thank you very much >>> making all the bells and whistles out there, as fears mountonomy might be heading towards stagflation, our next guest says that the current economic scenario is nothing like the stagflationary environment of the late 1970s. for more on the market ahead of the busy week, we want to bring in ed yardeni, he is the president of yardeni research. this idea that it's not going to be just like the 1970s stagflation is a pretty good one on a monday morning. makes us feel better about this being a monday, explain. >> i want you to feel better i think last week when we got the gdp report, the knee jerk reaction was that data was stagflationary because real gdp was up only 1.6% a lot of that was because we imported more, and we also saw this inventory accumulation. the final demand in the economy was still actually very, very strong in addition, there was concerns about the pickup in inflation during the first quarter i think some of it was kind of funky january, february effects, but we still do have a problem with the so-called super core inflation rat

contessa, thank you. >>> how rising tensions in the middle east are impacting the commodity trade todayb joins us next on eft edge. but no one loves logistics as much as they do. you need tamra, izzy, and emma. they need a retirement plan. work with principal so we can help you with a retirement and benefits plan that's right for your team. let our expertise round out yours. las vegas grand prix choose t-mobile for business for 5g solutions. because t-mobile is helping power operations and experiences for hundreds of thousands of fans with reliable 5g connectivity. now's the time to accelerate your business. it's odd how in an instant things can transform. slipping out of balance into freefall. i'm glad i found stability amidst it all. gold. standing the test of time. >>> we're back on the "halftime" report. let's get to bob. >>> what if anything might do well in such an uncertain environment? let's talk about the re-flation trade. i have known you for years. you have a huge suite for gold and other commodities. global manufacturing is ticking higher and that's driving that reflation tr

contessa crewer is here with the details. >> we found out that the forward allegedly bet on basketballft kings said that prop bet for a couple of dates earlier in the year were the bigges winners that day the nba said a leagu investigation found that porte violated league rules by disclosing confidentia information to sports better and limiting his own arpgz i one or more games to affect th games. he intentionally limited his play in sacramento, claiming h was sick he allegedly told someone ahea of time who then used that information to make an $80,000 parlay bet that was not paid commissioner adam silver previously called the lifetime ban the ultimate extreme optio at his disposal for discipline clearly, he thought it was necessary. this is the first time an nb player has received a lifetime ban for gambling >> i can't think of anothe player who received that other than pete rose who was then manager. >> and he went on the record t say he was not gambling on the reds but there has been shohe ohtani, issues about iow college and the temple bette irregulators >> ohtani has been cleared

contessa, thank you. >>> up next, the new gold rush, and metal hitting another fresh all-time high.re's the chart. we're back in two. your record label is taking off. but so is your sound engineer. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire at corient, mat wealth management beginsn. and ends with you. we believe the more personal the solution, the more powerful the result. we treat your goals as our own. we never lose focus on the life you want to build. and our experienced advisors design custom built strategies to help you get there. it's time for a wealth management experience as sophisticated as you are. it's time for corient. [city noise] investment opportunities are everywhere you turn. do you charge forward? freeze in your tracks? (♪♪) or, let curiosity light the way. at t. rowe price, we're asking smart questions about opportunities like clean water. and how clean water advances can help transform our tomorrows. better questions. better outcomes. t. rowe price

. >>> contessa brewer has the headlines. >>> six former mississippi law enforcement officers were sentenced on state charges this morning to 15 to 45 years in prison for the torture and abuse of two black men in a racist attack in january 2023. the six men who called themselves the goon squad were ordered to give up their law enforcement certificates permanently. the state prison sentences will run concurrent to federal sentences. >>> three sons after hamas leader were killed in gaza. he confirmed the deaths to the al jazeera satellite channel and said it would not affect hamas' ceasefire demands. israel has not commented. >>> palestinians living in tent camps in the southern gaza city of rafah are celebrating the end of ramadan. festivities have been overshadowed by the worsening humanitarian crisis in gaza and israel's anticipated ground inr invasion of rafah. >>> up next our "calls of the day." we have activity on five key committee names today which mes 'lanwel debate all of them after this quick break. you founded your kayak company because you love the ocean- not spreadsheets. you nee

contessa brew jer. >>> surprising e-koh data changed rates this week.ior economic reporter steve liesman with a fresh look at the cnbc fed survey hey, steve. >> good morning, carl. yeah, the cnbc fed survey forecasters after the numbers last week they ratcheted up q2 growth but also ratcheted up the outlook for 2024 inflation upgrading growth we've seen that, but it's the most substantial inflation nupg a while for this survey here take a look at the numbers after a weaker than expected gdp the stronger consumer spending data, the 29 respondents boosted second quarter growth from 2.1 we have no data, this is the early forecast what they did is -- what they missed in q1 into q2 higher starting point for consumption. inflation is now sooep send and ending the year above 3% up from 2.7. that number is in line with the fed's forecast for core pce for 2024, cpi running at 2.6, but above the target range, you figure that cpi runs a half point hotter than the pce. about half of respondents say the recent run of higher inflation is a blip. half say it could be

alongside contessa brewer, i'm tyler mathisen. glad you could join us.ng help from united health after its earnings were out. new comments from jay powell about a lack of progress on inflation is tripping up stocks in a bit. >>> the focus is back on earnings, the fed for today, the geopolitical tension is taut. israel has not yet responded to iran's missile attack. we're going to talk to the head of emerging risks for a global insurance brokerage about the threats to business and to the

i promise to fry to find new ideas that are good for you right here on >>> i am contessa brewer, and now on "last call", apple's about-face, the tech giant pulling out something we haven't seen in years. during the gold rush, why wall street things are suddenly warming up to the precious metal. >>> and half inning as a moment, a huge day for bed coin, how should investors prepare in this final countdown? >>> are brittle week for donald trump, on track for $1 billion bonus. why? we will show you. >>> plus, sh

that does it for the exchange, power lunch is next with contessa brewer. nal, you can skp the counteroose any car in the aisle... even manage your rental right from the app. so you can give some quality time to a quality cause. swing by to see one more customer... [audience cheering] and really get down to business. go national. go like a pro. [alarm beeping] amelia, turn off alarm. amelia, weather. 70 degrees and sunny today. amelia, unlock the door. i'm afraid i can't do that, jen. why not? did you forget something? my protein shake. the future isn't scary, not investing in it is. you're so dramatic amelia. bye jen. 100 innovative companies, one etf. before investing, carefully read and consider fund investment objectives, risks, charges expenses and more prospectus at invesco.com. >>> good afternoon. welcome to power lunch. glad you could join us. the big story is earnings, major companies reporting results and we have reporters breaking down the results and reviewing the ones coming up. we will have three names. >>> we are just 24 hours away from one of our favorite days of the ye

. >>> let's get over to contessa brewer for a cnbc news update. >> the arizona supreme court ruled todayar total abortion ban dating back to 1864 is enforceable. the ruling today allows the 160-year-old law to stand. it criminalizes abortion by making it a felony, punishable by two to five years in prison for anyone who performs one or helps a woman obtain one. >>> the civil war-era law includes exception for the life of the mother but not for rape or incest. >>> italian officials say at least three people died today in an explosion at a hydro power plant in northern italy. local fire brigade says the blast happened at a dam on one of the artificial lakes that feeds into the power station causing a fire to break out on one of its transformers. four people are still missing. >>> peter higgs the nobel prize winning physicist who proposed the so-called god particle died. his findings helped explain how matter form affidavit the big bang. the university of edinburgh where he was amare tis professor he died following a brief illness. he was 94 years old. back to you, deirdre. >> thank you. >>

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." >> i thought we were contessa's favorite. live from the nasdaq market site in the heart of new york city's times square, this is "fast money." here's what's on tap tonight. rate shock. yields jumping on the hotter than expected inflation data. the two-year closing in on a five handle and today's moves signaling the fed will rethink rate cuts for the rest of the year? we'll debate that. >>> plus, the real estate sector taking it on the chin. small caps struggling to find their footing. we'll go inside the numbers coming up. >>> and theoptions action in the regional banks. new private company etf taking wall street by storm. and bucking the trend. stock moves catching our traders' eyes in today's volatile market. i'm melissa lee, coming to you live from studio b at the nasdaq. on the desk tonight -- tim seymour, karen finerman, dan nathan, and guy adami. and we start off with the major market moves after yet another hot inflation report. the yield on two-year treasuries spiking toward the 5% mark for the first time since last n

. >> let's get to contessa brewer who has the headlines for us today. >> hi, scott. the trump hush money trial adjourned for the day, opening statements were delivered by both sides, prosecutors say this is a case about criminal conspiracy and cover up, the defense insists nothing criminal happened. >>> former "national enquirer" chief david pecker the first witness called. his testimony is expected to continue tomorrow. >>> the supreme court is weighing how far cities and states can go to police homelessness. the board is reviewing an appeal from a group of homeless people in oregon who challenged local laws banning sleeping in public which they say violates the eighth amendment ban on cruel and unusual punishment. >>> and tom brady is about to be in the hot seat. the retired nfl legend will be in netflix's first ever live roast called the greatest roast of all time. tom brady hosted by kevin hart. it will make history for being the first live roast on any platform to air unedited and uncensored. the roast will stream life on may 5th. presumably, scott, not somethin

i'm contessa brewer with your cnbc update.tatement this morning saying abortion laws should be left to the states. he does not take a position on a national ban promoted by some of his allies, but he took credit for the supreme court's overturning of roe v. wade in 2022. >>> palestinians are returning to kahn counis. >>> and a country cmusic star ws arrested after throwing a chair. morgan wallen faced a $15,000 bond and faces three counts of reckless endangerment and one of disorderly conduct as well. and now a very long toss back to sara eisen in beijing. >> the beauty of television. here in beijing tonight, janet yellen is just wrapping up four full days on the ground. both the manufacturing hub and here in beijing where she met with high ranking officials. the purpose of her trip was to just continue to open lines of communication about the economic relationship here. we talked about some of her concerns with overcapacity and potentially chinese dumping. she also had conversationswith chinese leadership about tiktok and tha

. >>> welcome back to "squawk on the street" i'm contessa brewer with your cnbc news update.xchief financial officer of the trump organization was sentenced this morning to five months at new york city's riker's island jail his jail time for perjury comes a month after he admitted to lying under oath in donald trump's civil fraud case. >>> the u.s. and japan are set to announce a historic upgrade to the security alliance today. president biden held taulks wit the prime minister. the pm's visit is first state visit by a japanese leader in nine years. >>> and the first ever limit on so called pfas in drinking water. it's to reduce the lowest levels measured. the agency said it will reduce exposure for 100 million people and prevent thousands of illnesses, including cancers. back to you. >>> delta a bright spot this morning swinging higher after swinging to a profit if the first quarter. phil lebeau caught up with the ceo. what are the headlines? >> what stands out is the consistency of the first quarter. they beat the street in terms of a bottom line profit by 9 cents with reve