sherman with us on how netflix has cracked down on password sharing, paying off big time, and courtney reaganious on target mike santoli, 304. it would be nice to get that first close above 4,300, wouldn't it? >> 4305 is the closing high. got about half that in august. we're in the zone of maybe culminating this phase of this moch we've banished the idea that 4,200 was some kind of a rigid ceiling. that was the case as of a couple of weeks ago the weight of the evidence is definitely piling up on the side that this is a somewhat sustainable recovery, that we're in an uptrend, and if you want to declare a bull market, that's fine it's not a foolproof indicator, but it has put the odds in your favor. let's say 90% of the time they're going to be higher doesn't mean you race ahead. it's basically about where we are in the cycle and obviously in terms of the breadth of the market >> the bulls argue that, you know, technically we've gotten over some good hurdles. >> yep. >> things have broadened out much more substantially -- i don't know in the last week or so, to make them feel better about wher

courtney reagan join you go us there to talk retail. >>> up next, the chips act isn't just for chip companies, a number of other sectors could now receive federal subsidies, but who stands to benefit the most we're going to break that down in just a couple of minutes. the internet is telling me a million different ways i should be trading. look! what's up my trade dogs? you should be listening to me. you want to be rich like me? you want to trust me on this one. [inaudible] wow! yeah! it's time to take control of your investing education. cut through the noise with best-in-class education resources that match your preferred style of learning. learn your way. not theirs. td ameritrade. where smart investors get smarter℠. and this is ready to go online. learn any questions?theirs. -yeah, i got one. how about the best network imaginable? let's invent that. that's what we do here. quick survey. who wants the internet to work, pretty much everywhere. and it needs to smooth, like super, super, super, super smooth. hey, should you be drinking that? -it's decaf. because we're busy women. we don't hav

cnbc senior retail reporter courtney reagan digging into this.rend and what can you tell us about westfield's decision to close in the heart of downtown san francisco. >> i think the ideas of malls closing is not necessarily a new one. what's special about this is we're talking about a changing condition in san francisco. westfield is closing this mall. it is in a downtown area of san francisco for those not familiar and downtown malls are not something that you see all that often and many of them are no longer working. as a matter of fact, we saw brookfield closed its water tower last fall. and matriarch another mall operatorened its ownership in chicago. in san francisco specifically, we know office vacancies are among the highest in the country. something around 30%. tourists are starting to come back to san francisco, but they're spending reportedly 77% less than they did pre-pandemic. conventions that often has been a big draw for foot traffic, those have not come back in the same way. so, yes, westfield is closing the mall in san francisco,

walgreens, can the pharmacy giant find the right prescription to turn around its struggling stock i'm courtney reaganr melissa lee. this is "options action" live from the nasdaq market site on the desk tonight we have mike khouw, bonn win eisen, and tim seymour, and first-half hotties, nvidia up nearly 200%. meta jumping 40%, and tesla driving more than 100% higher. ge, salesforce and more locking in soft gains in the first half. will they keep this running going in the second. that is the key question tell us the answer, tim. >> well, i tell you, you talk about nvidia, and you talk about one of the greatest momentum moves we've seen in any stock of all time i think it's, you know, options traders are certainly planning on how or part of the strategy is how you deal with that upside vol you've had and how you look at the future. when i look at a facebook where i think around a.i., and we just recently talked about this 27% of their content is a.i. driven, i actually think they're in a position in the second half to continue to ride because that multiple is much less demanding than some of these other

pay now groups representing retailers and manufacturers are urging the white house to step in courtney reagang us. i guess they are worried about their stuff getting into the hands of consumers >> reporter: absolutely. contessa, the uncertainty of how long it will take for west coast port terminals to be operational again is not news scarred from the last five years in the global supply chain. the good news is the country's largest retailers are prepared this strike is not a surprise. contract negotiations have been ongoing for a year there is a history of the types of worker disruption around the contract expirations more importantly, the trump tariffs on chinese made goods and demand for the port congestion forced retailers to address issues and only adjust strategies and work through weaknesses in the global supply chain. most large retailers have spent years diversifying where goods are manufactured and imported from and which ports take in those goods. west coast container volumes are down 10% in the first three months of the year compared to 2019 gulfport volume grew east coast up 3% ac

>> courtney, thank you courtney reagan there.hen we hear from, well, the -- >> we'll get retail sales this week, also >> so we'll get more on the spending side. look, the consumer hasn't been the major source for concern, as long as unemployment is under 11%. it's interesting that intentions deteriorate, as courtney is reporting, and we've seen that in specific categories but overall, it hasn't felt like a consumer recession yet >> although demand does seem to be at least waning to a certain extent >> that does it for this hour of "squawk on the street. stay tuned for a lot more coming right back you got this. let's go. gobble gobble. i've seen bigger legs on a turkey! rude. who are you? i'm an investor in a fund that helps advance innovative sports tech like this smart fitness mirror. i'm also mr. leg day...1989! anyone can become an agent of innovation with invesco qqq, a fund that gives you access to nasdaq-100 innovations. i go through a lot of pants. before investing carefully read and consider fund investment objectives, ri

court courtney reagan here to break down that call >> ubs just also named it a top idea coming out ofhink a lot of the price action we've seen in the stock is driving some of these calls because it sold off preci precipitously something like 20% and it's well below its historical pe over the last five years. we know history doesn't always mean it's going to happen the same way in the future i do think the loop capital note points out some things, particularly with the shop in shops in target. ulta does not own that inventory. target does. target is paying for the buildout there the risk to ulta is relatively low when you look at that as a business expansion and target customers can join that ulta rewards program so they get extra customer data. we know even in times when consumers pull back, something like luxury cosmetics is an area we still will buy. it's a small luxury that still makes us feel good as part of our regular routine. i think ulta could be a beneficiary there. we know the comp sales have been incredibly strong over the years at ulta. it's almost unbelievable when you se

to what you are seeing in terms of improving fundamentals >> let's get the headlines now with courtney reaganat this hour former president trump announced a shakeup in his legal team late this morning after he was indicted last night on seven counts in a classified document probe. he says yet to be announced firm and the same attorney representing him in his new york state criminal case will oversee the federal indictment two of the attorneys said it was an honor to spend the last year defending him. >>> the main suspect in the 2005 disappearance of natalee holloway was arraigned this morning at a federal court on charges of extortion and wire fraud. it is not clear yet what plea he entered. he is accused of lying to holloway's mother. the body still has never been found. >>> and the white house says it has evidence iran is helping russia to help build a drone manufacturing plant that could be operational next year officials said tehran provided hundreds of arms drones to russia last month. white house officials say it shows deepening military ties between the two countries. >>> coming up, re

courtney reagan is here. we can't take the wind out of his sails. derek jeter. >> i hope we don't disappoint everybody. as you might understand, every brand wants to own the consumer experience and the data. after years of focus on the direct to consumer model, more brands are realizing the value of wholesale for brand discovery and often a lower cost of customer acquisition so nike exited around half of its retail relationships between 2017 and 2021. now it's coming back to macy's and dsw, and the news sent shares of dsw's parent soaring last week. levi continues its direct to consumer push, but its wholesale business grew 25% last year. pvh is deepening and the elf business grew 75% last year. it's expanding what it sells in target, walmart, and cvs, and l.l. bean moved into wholesale in 2020. it's expanding into more retailers telling me it diversified its geographic reach. meantime, even fast growing direct to consumer companies that relied heavily on social media marketing can see that model doesn't often work as the only way to sell look at al

i'm courtney reagan in for melissa lee. this is "fast money," live from the nasdaq market site on the desk tonight, karen finer man, dan nathan, guy adami and our special guest tonight. we're going to start with an attempted rebound on wall street, at least after three straight days of losses. big tech and a.i. stocks helping the nasdaq rise nearly a percent today. first gain in a week the s&p managing to end in the green with amazon and fedex leading the way. the dow was the only index that was down today, just barely, though, still marked its fourth day of losses in a row let's look at the banks. lagging the broader market in a big way today. both the major bank index and the kre regional etf down around 3% lori, you've been on the road a lot talking to investors about regional banks what are they saying >> so, it's interesting. when i talked to small cap managers, value pms, people who know that regional bank space pretty well, i've actually been surprised they haven't -- i wouldn't say they haven't been concerned, but t

courtney reagan is here to explain. >> and so every brand wants to own their consumer from the experienceect to consumer model explosion, more are realizing the value of wholesale. after nike exited about half its retail relationships between 2017 and 2021, it is coming back to macy's and dsw. levi continues its dtc push, but its wholesale business grew 25% last year. pvh is deepening wholesale partnerships and elf says its business grew 70%. they are expanding their relationships. and after more than 100 years of direct to consumer, ll bean moved into wholesale in 2020 and continues to expand and says that the strategy helps us diversify our geographic reach and sevens us a a great growth vehicle to get closer to existing and new customers meantime even fast growing dtc companies that relied heavily on social media marketing have conceded that the model doesn't often work as the only way to sell remains to be seen if it helps but apple privacy and ad tracking helps doesn't help, but even without that, wholesale has always been a valuable channel for brand discovery with a lower cost of c

courtney reagan joins us with more on what the steps the retailers are taking to try and protect themselvesrgent from the timing and we are a long way away from the holidays >> it's not welcome news for retailers and they are scarred from the last five years of the turmoil in the global supply chain, but the largest retailers are now more prepared. this strike is not a surprising and contract negotiations have been ongoing for a year. more importantly, the trump tariffs on chinese-made goods and pandemic demand and forced retailers to work through weaknesses in the global supply chain, so most large retailers have spent years diversifying local manufacturers and west coast container volume is down 10%, and this is according to data from decard systems and the timing of the break is crumby for retailers because of the back to schoolers and holiday retailers. they are hoping for a swift resolution, but the industry leaders association speaking on behalf of the industry home depot did tell me at this point the impact for them is minimal. >> i guess the big deal on this, though, is we have been

that doesn't cover equally same-sex courtney reagan has more >> many policies exclude same-sex coupleswe were shocked when we started to look into it and realized nothing is covered by insurance unless you can prove you are infertile. >> the first step was to get sperm tested for us, that was the only part of the process that was covered through our insurance. >> 63% of lgbtq+ individuals plan to become parents 10% of employers offer a surrogacy benefit. for those, they get a $10,000 reimbursement which is common according to experts >> the average cost has gone from $75,000 to $150,000. >> surrogacy comes with added costs. lawyers fees and all expenses and insurance for the carrier and donor eggs a father through surrogacy before working as a manager. he and his husband's journey costs nearly $175,000. he doesn't think employers need to offer full coverage >> the option is to have support for other co- workers and seeing your employer cares about that journey. >> a new survey of the lgbtq+ community of fertility benefits manager said 75%would leave their current job for a company with

courtney reagan joins us right now with the exclusive results of a new survey on where americans ared morning. we thought this was a good one to do ahead of the fed as well the cautious spending trends that retailers noted in the first quarter earnings calls do appear to be showing up for u.s. consumers here so new poll that was conducted over the weekend by cnbc and morning consult showed nearly 6 in 10 feel the current economic situation is impacting their finances with middle income consumers feeling it the most. and nearly everyone, 92% say they have been cutting back in some capacity. inflation is weighing heavy on spending but almost three-quarters of consumers feel prices for essential items like grocery and gas are higher than six months ago and 68% feel prices for nonessential goods are elevated since the beginning of the year. it led to two-thirds of consumers to cut spending on essentials in the last six months, 79% to cut spending on nonessentials. more than half say with grocery, for example, they're using cheaper alternatives or just generally buying less. what's worris