here are courtney reagan and mike santoli and gina sanchez.ould spoil what's expected to be a record setting back-to-school shopping season. the national retail federation expects spending for k-12 students to hit more than $37 billion this year. it also forecasts back-to-college spending to hit a record $71 billion thanks to pent-up demand and child tax credits. surging cases are putting a return to classrooms in doubt. the u.s. topped 100,000 new covid cases on saturday. courtney, maybe it's the kid in me or maybe the fact i was just at the beach over the weekend, i'm a little bummed that we're already talking about back to school and it's already august 9th. where do you see this season playing out? we've never had a season like the one we're about to have. >> that's right. it's different in different areas of the country as far as when school starts i'm from the midwest and the kids are starring back in a week or so, even though in new york city they start much later back to school is a rolling season when it comesa year unli kids being ri

gross margins expanded by four points to 74 percent, even issued upbeat guidance courtney reagan joinsank you very much james, thank you for being here with us. kelly ran through the quarter. analysts pretty positive for the most part. the delta variant is really throwing a wrench in so many different things are you seeing a change in behavior in either your consumer or your business clients as a result >> courtney, we had a very strong quarter and guidance for q3 the delta variant is one of those things that we're keeping an eye on. nothing, so far, has impacted the business certainly we want to be prepared, should it affect our operations or our consumers. we're keeping a close eye on it. >> processing time is the one part of the report this quarter that a lot of analysts are fixated on in 2020, it was taking 20 weeks to process those bags that get sent in with the clothes that consumers want to resell you brought it down to 12 weeks, but then that's up from eight weeks. what's the long-term plan? it doesn't seem like you'll hit that two to three-week processing time by the end of th

>> courtney reagan, thank you. >>> for decades scientists have been trying to duplicate on earth thenergy created by the sun now a successful test and knew hope for a clean energy future. >>> and peas, yes, peas. they aren't just for hiding under the mashed potatoes anymore. how the appetite for meatless burgers is makinthe ttg lile round veggie more in demand than ever (struggling vehicle sounds) think premium can't be capable? think again. ♪ (energetic music) ♪ ♪ ♪ ♪ ♪ introducing the first ever at4 lineup. premium and capable. that's professional grade from gmc. >> a wright brothers moment for energy that's what some are calling a key achievement in nuclear fusion that was announced earlier this week. scientists used 192 gigantic lasers to super charge a pellet of hydro general the size of a bb inside the enormous lawrence livermore national laboratory in california that created a nuclear fusion burst of 10 quadrillion of power. it's long been a goal of scientists around the dploeb to explain what all of this actually means is michio kaku, author of "the god equation:the quest for

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i'm courtney reagan and in tonight for melissa lee. tim seymour and karen fieder man and nadine terman and guy adaumy the stock falling 4% as u.s. highway officials launch an investigation into the auto pilot system of tesla. and we're tracking the after hours shares of ten cent music we'll take you inside of that quarter. and later break out your credit card we're gearing up for a big week of retail earnings we'll dive into the key names that need to be on your shopping list but we start with another record day on wall street the s&p 500 and dow closing at all-time highs for the fifth straight day the s&p now officially double its pandemic lows. move coming as fed officials grow supportive of starting to wiends down the central bank bond purchase program. let's get the latest from steve liesman who just spoke with eric rosengren. what did he have to say? >> he basically agreed with the general idea about the federal reserve merck committee looking to coalesce around tapering as pet purchases in september and begin reducing them, and h

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here is cnbc's courtney reagan. >> retail ceos are telling consumers to start shopping for the holidaysme, it's not a marketing technique. for the first time, there's a kink in every link, in the supply chain. >> we've seen shutdowns in areas in china, shutdowns in warehousing and trucking facilities in the united states. >> couple the logistics nightmare with strong consumer spending four times higher than typical in july. jay foreman is the ceo of basic fun which sells care bear, tonka trucks and more to walmart and kohl's. >> transportation and supply chain can't keep up with demand. there's not enough containers. there's not enough ships there's not enough trucks. there's not enough warehousing to hold everything that everybody wants to buy this year. f goods much more expensive last >> reporter: it makes the transportation of goods much more expensive last year around this time the typical container costs roughly under $2,000 right now we're seeing cost increases up over $20,000 per container. and each container, we can fit about 10,000 units. >> reporter: ann harper, founder of om

and fubotv up a nice 12% meantime shares of ww, formerly weight watchers, you are plunging courtney reagan> hi there, wilf. for ww, the earnings come in at 12 cents, a gap number it's unclear if it's comparable. the revenue guidance, though, is falling short for the full years of analyst expectations at $1.3 billion. the revenue is also falling short for the current quarter at $311 million, compared to $337 million. it does seem as if the subscriber growth -- our i should say the end of period subscribers was not as the company had expected in fact, they lost subscribers both year over year and quarter over quarter the ceo says there's a plan to optimize performance in the second half, and position us for growth in 2022 but still, shares are sliding. 21% in immediate reaction to these results. morgan, back to you. >>> up next, our state of investing series continues alaska permanent funds joins us. "clongel wl rhtsi bl"ilbeig back ♪ ♪ ♪ with a bit more thought we can all do our part to keep plastic out of the ocea. do you have a life insurance policy you no longer need? now you can sell yo

. >>> bob is tracking the market action for us, and courtney reagan has detailings on retail and the big move higher no macy's just slight gains on the s&p >> moments ago, wilf, we went into positive territory. don't kid yourself the markets are repricing the growth outlook, that's what's going on you can see this, because the cyclical sectors are getting hit harder it's been a terrible couple weeks. cabot oil and gas, for example, is hitting a 52-week low same thing world traith materia. travel and leisure -- this is the consumer discretionary part, also cyclical, but consumer discretionary part, the usual travel and leisure names all weak so all of these sectors sort of associated at the same time defensive names. for example, costco, pepsi, all of the usual food stocks doing better they're helping hold up. market health care has been a major leadership group, business pharmaceutical, big biotech companies all doing well they're holding up, helping to hold up the s&p 500. finally, most importantly of all, tech. rotation somewhat bund into tech stocks nvidia and cisco with good repo

"power lunch" starts right now with tyler mathisen and courtney reagan. >> if congressman gottheimer can fix that -- we're an hour away from president biden's big meeting with auto executives on the agenda, new ev targets s we have a top analyst to join us. >> and doubling down on denim. jean and apparel maker kontoor brands joins us. >>> are older americans using bitcoin as a retirement catch-up play the nonetheless bers say yes we'll weigh the risks against the possible rewards, later today on "power lunch," which starts right now green on the screen, let's get right to the markets at this hour stocks are higher across the board as you see right there the dow, s&p 500, nasdaq, all sports gains bill deal in the gaming space today, scarce of score media, and it will -- and weber grill rising in its -- priced at $14 a share. it has been moving up from there. >> we begin with president biden speaking in about an hour from now, making a big push for electric vehicles. phil lebeau has more on the president's plan good afternoon, phil. >> this is not a surprise that the president is pushi

i'm courtney reagan and in tonight for melissa lee.guy adaumy the stock falling 4% as u.s. highway officials launch an investigation into the auto pilot system of tesla. and we're tracking the after hours shares of ten cent music we'll take you inside of that quarter. and later eaou

. >> i'm courtney reagan in for sara eisen energy is the worst-performing sector in the s&p 500, as oil having an

"power lunch" with tyler mathison and courtney reagan right now. >>> welcome. good to see you. >> thank you it's nice to be here >> ahead this hour, a payments powerhouse, square and afterpay marking an old-fashioned way of lenning. we'll talk to a top analyst who says the buy now, pay later phenomenon could set off a new wave >> the infrastructure bill includes $73 billion piece for grid updates is washington on the verge of giving the sector a boost? >> and is china still investable why that country's business crackdown could threaten its standing as an economic superpower "power lunch" starts right now >>> all right, everybody let's waltz you through how the markets are doing. as we begin august, an historically tough month for stocks, generally not so good. look at the dow. it is up a little bit this afternoon by 5.5 points. basically flat, you have to say, off the session highs. the s&p is up about 0.06 and the nasdaq up a third of a percent the yield on the ten year note, it is sliding on disappointing manufacturing data and, courtney, covid concerns >> w

courtney reagan has details on this one >> disappointment for investors that are bullish on the realry consignment company reporting a wider than expected loss and lower revenue than analysts forecast. shares are down about 7% or so it's been a rough 2021 for the real real. it's down 22% year to date the xrt etf is up 47% the real real continues on its path to profitability and did just report a record high gross merchant value it's up 91%. the take rate or the fees and commissions did false to 34.5% the average order valued grew nearly 25% over last year and above consensus. orders grew 54%. that was short of estimates. the real real conference call is under way right now. ceo julie wanewright mentioning the delta variant saying it's a wild card and in general apparel is doing well. >> i got to go to karen on this. you defended it. >> i'm long it this is disappointing. what courtney brought up is the most important thing is the take rate which was the low expectations just from the notes i read, it seemed like it was because the mix, if someone sells a watch on the real real, the se

. >> i'm courtney reagan in for sara eisen today let's look at what's driving the action on this mondayconductors hi all-time highs. financials are moving the other

for now, back over to you. >> courtney reagan, thank you. >>> this was always going to be the risk with crisis some other numbers that stick out on this one. if you look two years, compared back to 2019 159% growth from there in terms of the revenue so they're clearly still growing. and outside of shopify, it's really the fastest growing e-commerce company, if you look at that two-year basis they clearly benefited from the pandemic and the buyers stayed with them. the gms, gross merchandise value increased 22%. still strong numbers but as courtney alluded to, the concern is going to be around the guidance and just not seeing that growth rate or the new users come in the way they did when people were at home maybe i'll turn it to you. you don't do individual stocks but we got so many reopening plays here with the likes of wynn resorts and uber and the pandemic plays like etsy where are you on some of those categories and what you should be thinking about given some of those numbers? >> i think, let's face it, earnings have -- they're up 80-some percent for the s&p 500. earnings are blowi

courtney reagan with ceo jeff gennette. >> good morning, carl.ng in macy's ceo jeff gennette. jeff, thanks so much for being here with us a busy day and active morning for you already. the earnings looked really good as carl said shares up almost 15% i guess the first question should be, is this strength really sustainable or is this what some are calling revenge shopping as everyone's emerging from hibernation >> so what i would say on the second quarter results was part of it was just kind of that rebound, that revenge shopping, and a good portion of it though was just the strength we are getting from the strategy. when you look at the beat, you look at just the strength of the categories that were happening during the pandemic. they continued strong. so our digital business, you know, very strong comps versus 2019 you look at the home businesses, fine jewelry, fragrances but then you look at the businesses that emerged. those dormant categories that customers just weren't buying during the pandemic. so that was like the dresses and men's cloth

double earnings alert shares of simon port on the move start with courtney reagan listening in on simon's call. >> hi. simon properties shared up by more than 3.5% reporting stronger than expected earnings and slightly higher revenues net income increased and portfolio operating income including the centers it owns as well as other segments increase of 32.5%. funds from operations, that fico number increased more than 52% year over year to 1.217 billion dollars. ceo david simon is pleased with cash flow in the second quarter and simon notes increasing shopper traffic, retailer sales and leasing activity at his centers. o occupancy 91.8%. and simon also upping its full year guidance and inkrieging div dp dp dp dividend to $1.50 per share. government restrictions in facting results in some areas but says signed 1,400 leases in the second quarter with a "significant number still in the pipeline." added a recent meeting of his leasing team reported to him the most active deal committing in several years. mr. simon noted retail sales in the centers are up 13% in the first half of 2021 when com

our own courtney reagan is sitting down with the ceo of kohl's and chewy and how they're dealing withchain issues and staffing shortages and shifting consumer demands and more getting underway this tuesday at 1:00 p.m. eastern register at cnbc events.com evolve promising new technology that is disrupting the entire health care space this special edition of "fast money" is back right after this. t doesn't miss a beat. that's cute, but my internet streams to my ride. adorable, but does yours block malware? nope. -it crushes it. pshh, mine's so fast, no one can catch me. that's because you all have the same internet. xfinity xfi. so powerful, it keeps one-upping itself. can your internet do that? i'm 53, but in my mind i'm still 35. that's why i take oste bi-flex to keep me moving the way i was made to, it nourishes and strengthens my joints for the long term. osteo bi-flex, plus vitamin d for immune support. if you're 55 and up, t-mobile has plans built just for you. switch now and get 2 unlimited lines and 2 free smartphones. osteo bi-flex, plus vitamin d and now get netflix on us. it'

courtney reagan is watching that and has some results. >> good to see you walmart's comparable sales coming in stronger than expected but this quarter it was stores, not e-commerce, that led the way. so walmart's u.s. comparable sales did grow 5.2% with the 6% growth in transactions however, that net u.s. e-commerce number grew just 6% look at this bar chart and see how much smaller that increase is than what investors are used to from this u.s. net e-commerce number the same quarter last year saw sales grow 97% the retailer is now expecting global e-commerce to hit $75 billion this year. that's a number they don't normally give us and that is just its own good. so x marketplace goods, not a gmb number, pure sales number for walmart. when i asked brett bigs about the slow growth, he said, there are going to be quarters where stores lead the way and quarters where online leads the way and over the last two years, e-commerce sales have doubled. now, he said he focuses on the total revenue, the total sales number, and that total revenue number is impressive this quarter, in fact, the th

explain what is going on with the consumer here to break down all the headlines, bob pisani, courtney reaganeo of j. rogers nippon enterprises let's start with macy's. shares are soaring after a monster second quarter on pace for their best day ever. the department store beat eps estimates. there's macy's up 22.5%. also a $22 equity. they beat estimates by more than $1 on eps. crushed sales expectations they doubled basically their full-year guidance reinstated the dividend. approved a buyback program the ceo still sees two questions marks for the retailer listen >> back to offices in flex right now. a lot of companies shifting their date about when the back to office will be. everybody is talking about hybrid and how does that office worker, when do they come back are they comfortable coming back and are they going to shop in our stores that's a question mark and international tourism, we go not expect to come back in 2021. >> courtney, here's my question. what was the deal with macy's in, you know, this sounds like a dumb question, during 2020 i imagine that department stores were pretty r

"power lunch" with tyler mathison and courtney reagan right now. >>> welcome.hank you it's nice to be here >> ahead this hour, a payments powerhouse, square and afterpay marking an old-fashioned way of lenning. we'll talk to a top analyst who says the buy now, pay later phenomenon could set off a new wave >> the infrastructure bill includes $73 billion piece for grid updates is washington on the verge of giving the sector a boost? >> and is china still investable why that country's business crackdown could threaten its standing as an economic superpower

"power lunch" starts right now with tyler mathisen and courtney reagan. >> if congressman gottheimerith auto executives on the agenda, new ev targets s we have a top analyst to join us. >> and doubling down on denim. jean and apparel maker

retailers expect the shopping spree to continue well into the months ahead here is courtney reagan. >ers, luxury hand bags, kitchen and bath building materials. no matter the merchandise, americans are buying and at full price. many of the biggest retailers are putting up stronger than expected financial results consumers are hitting stores, even as the delta variant surges online shopping soared in 2020 while it is still growing, walmart and target are among those reporting another quarter of strong store foot traffic. >> the quarter is off to a strong start we're not seeing any slow down in momentum. i have seen a very resilient consumer, physically out shopping, trying to get back to life. >> reporter: retail bosses say their own strategy contributes to spending. this ceo expects shopper traffic to improve further. >> we expect traffic to increase in the second half of the year i would say brick and mortar, mall retail is back with a ven advance with stimulus checks and revenge buying because of the robust leasing environment, it feels better than when we emerged in 2009 and 2010 f

here is nbc's courtney reagan. >> reporter: denim, sneakers, luxury handbags and even kitchen and bathtter the merchandise, americans are buying and at full price. many of the country's biggest retailers are putting up stronger than expected financial results. consumers are hitting the stores even as the covid delta variant surges online shopping soared in 2020 and while it's still growing, walmart and target are among those reporting another quarter of strong store foot traffic >> the quarter is off to a really strong start. so we're not seeing any slow down in our momentum i'm seeing a very resilient consumer who is physically out shopping and trying to get back to life. >> reporter: retail bosses claim their own strategies are also contributing to the spending and say the strength is here to stay thomas o hern ceo of mall owner told investors he expects shopper traffic to improve further. >> we do expect traffic to continue to increase in the second half of the year. i would say brick and mortar mall base retail is back with a vengeance, helped by stimulus checks and revenge buying.

our courtney reagan caught up with the ceos of kohl's and chewy. what more did you learn? >> we talked about the evolution of the companies, and the leadership lessons 4rer7bd along the way. michelle goss spoke about her partnership with amazon through the retailer's returns program, and that they may be thinking about opening up department stores. >> amazon is always experimenting, innovating. we'll see, but i don't think it changes our partnership. you know, candidly, we were competing with them before with the online business, but i think it's looking for unique win-wins >> reporter: when it comes to chewy's evolution, the ceo was talking about the possibility of expanding beyond the u.s. and beyond pets, possibly into deliveries for humans. >> the time is ready, we also have our eyes on international expansion. so, for us, it's a matter of focus, doing our best in the pet category, and serving millions could we do it absolutely >> reporter: you with go to cnbc.com forward slash ev evolve-events. >> what type of products would they sell for humans chew toys? >> reporter

. >> i'm courtney reagan in for sara eisen energy is the worst-performing sector in the s&p 500, as oil prices retreat on global growth fears. but also having an impact on reopening stocks cruise names, airlines pulling back while vaccine makers are getting a boost. crypto is another bright spot, crossing above $46,000 for bit bitcoin. 59 minutes left to go in the session today. >>> coming up on today's show, we will speak with the ceo of ticketing company eventbrite, about rising concerns of the virus, and new orleans scraps its event and new york's auto show is scrapped >>> getting a nice lift today. mike santoli is back, tracking all of today ace market action and ylan mui has the latest on the infrastructure bill as it makes its way through the senate michael, welcome back. >> courtney, thank you very much the market holding near record highs, it's loot the push and pull are fighting for a draw that there's enough strength like in banks and consumer staples to overcome some profit-taking in industrials and energy the market has kind of slowed down it's broken to a new high, but been

. >> courtney reagan, thank you. >>> katie, what do you look at when you gauge the health of the would pleaser? as tesla and amazon, xrt is pretty much down today, but holding its highs. what should we be following? >> you know, i'm watching the ratio of xrt, or retail etf. you'll see in that ratio it has broken a short-term support level. the weakness in target, these reactions are negative but really just a short-term pull pullback. >> greg, what's your take on those consumer names, either of those two specifically or more broadly. we've had retail sales confidence, and whether or not it's a significant concern. >> right, i agree with katy. in the short term we'll see the consumer detier yale 7.5 million people are coming off of generous unemployment benefits, but that deterioration will not be spread equally at the top end, you think you'll see some protection, and will continue to share gates, at the end of the day, as i said, when we see people come off the generous benefits the purchasing power will be vastly decreased offside fulfillment, channeling i think you've seen in walmar

supply chain slowdown hurting retailers still leading to empty shelves and higher prices our courtney reaganorse with every link in the chain delayed, at a short of and a higher cost taking at least twice as long to get goods from asia here to the united states. big retailers in better shape than vendors that sell to them vendors say empty shelves and prices 3% to 10% higher inevitable for shoppers. now back-to-school, holidays and well into 2022 ll bean is larger, still paying more for normal containers percentage increase is less than smaller brands are paying. so far absorbing the cost. still, ceo steve smith tells me, "we are worried about our fall inventory. 70% receipts finished somewhere in the supply chain. the other 30% we're worried about. either not produced yet or in the raw materials stage. the ceo of cng accessories sells to t.j. maxx and others, store prices have to go up in 2019, average container from china cost $1,200. beginning of the pandemic, fell to $1,100 for all-time low since prices going up. average container costing betweens $15,000 and $19,000 that's what the ceo

. >>> welcome back it's time for a cnbc news update with courtney reagan. >> hi, wilf. president biden defending his decision to withdraw u.s. troops from afghanistan he says it was designed to save american lives and end a war that was not improving america's security >> -- was the choice, the real choice, between leaving or escalating i was not going to extend this forever war, and i was not extending a forever exit >>> on the news, was biden right? and what happens next in afghanistan? tune in tonight at 7:00 p.m. eastern. >>> tex lawmakers are close to sending governor abbott a restrictive rewrite. the state house passed a bill after a last-minute change the bill gained national attention after democrats twice walked off state's capitol to temporarily block the bill. >>> rescuers trying to save people tracked from the fl floodwaters. back over to you, sara. >> courtney, thank you >>> back to mike santoli, who is taking a closer look, is there cause for concern? >> you also saw a crash in this ratio here it's the spread between what consumers say they expect from the

. >> i'm courtney reagan in for sara eisen today let's look at what's driving the action on this monday. tech is on top today as apple, alphabet and semiconductors hi all-time highs. financials are moving the other way. the worst-performing sector as treasury yields tick lower goldman sachs is the biggest drag on the dow. >>> and travel stocks pull back. cruise lines are in the red. we've got 59 minutes left to go in the trading session today >>> coming up on today's show, two energy experts join us to wall street in in the wake of hurricane ida. >>> plus gene muenster will be with us to discussion reports that apple is working on satellite capabilities for the latest iphone model, as that stock reaches report highs let's get straight to the big story we are watching today. mike santoli has a closer look at today's market action phil lebeau a tracking the move lower. what are you focusing on here today? >> the big growth stocks are doing the work today this market, if you look at a one-year chart of the s&p 500, the smoothness of the up trend is the main feature you'll take away from it

to squawk on the street despite the delta variant, consumer spending is still strong here is courtney reaganody better tell the ceos. giving some credit to the stimulus and their own strategies store traffic was strong raising forecast for the remainder of the year. macy's and kohl's blue past on sales implying a strong second half of the year thinking part of the success in tale winds and told me the exclusive interview, he thinks the momentums are sustainable holding on with the gain in the quarter. kohl's had a 10-year high and expects to hit 2023 profit two years early. the ceo told me she hasn't seen any changes another successful quarter with higher prices transportation and more. back over to you >> a busy week with great reporting and interviews thanks for wrapping it all up. we've got major averages rebounding but still on track for a losing week. tech, squawk on the street is done and tech check startsnow. ♪ >>> good morning welcome to tech check. elon musk ai ambitions are head and shoulder

kohl's and sephora rolling out combined stores. 850 sephora's at kohl's are expected by 2023 courtney reagan>> thank you very much, morgan good to see you and great to be back with you and in the field with the ceo of kohl's and the ceo of sephora americas. so, i'll start with you. this was announced during covid. we still have in covid in the delta variant is raging, and it is causing new restrictions to take place why is now the right time to open sephora, where a competitive advantage has always been to try on makeup on your face >> let me just say this whole strategy for kohl's has been years in the making. we together have been working on the unveiling of this phenomenal experience for months and months and we wouldn't be so proud to literally, today in this moment is our very first store and they'll be opening 70 later this month, on our way to 850 we're both omni channel retailers. and we've learned a lot about how to serve the customers there are customers in our stores we're operating very safe and comfortably. we're expecting, whether it's skin, hair, to be relevant to the sephora

for about 420 basis points something we need to watch as we move forward back to you guys >> courtney reaganr markets. and we do see both the dow and s&p move back towards the flatline when uncertain times, that was part of one of the quotes that courtney reported on there how do you see that through a mark perspective as we move through a second quarter batch of earnings, but now there's question marks and uncertainty whether the consumer-focussed macro data or, of course, delta variant and inflagsz >> at oak mark, we're value investors. we look at long term, how much cash flow our companies are capable of generating. we're pretty confident that three to four years from now, you'll remember the delta variant. we might be on three greek letters from now vafriant. but we think, generally speaking, human ingenuity will win out and cash flow will approximate what we consider to be normal. obviously comping at the 2020, i mean, that was as weird a year as you can get so, we kind of like to look back at 2019/2018 to see what the trends are >> in light of that, you did have a very strong past year

he takes the radio from drew [inaudible] and says rioters ok, rodgers okay, rawhide is ronald reagan's courtney's where he got the title of the book from. [inaudible] raw >> writers ok, rodgers okay. >> [inaudible] you want to go to the hospital or back to the white house? >> we are going to ground. >> great. >> [inaudible] back to the white house, back to the white house. >> rioters okay. >> so they are heading back now towards the white house. and [inaudible] rudy is crying, the driver of them are seniors hurtling down connecticut avenue. it's close to traffic. they wouldn't be traveling traffic here on 1818 one 1981 on march 30th. [inaudible] now at about, as they are driving along and then remember the limousine is along. they have no support. they've left the motorcade behind. the follow-up clerk, the armored follow of two guys brandishing with this on it finally catches up behind him and despair limousine which has the president positioned in it and another agent finally gets up near them to. they are going along, the police cars are starting to follow up the motorcycles are getting ahead

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