today we head to another hot, under the radar housing market that would be dayton, ohio home of courtney reaganinterest rates jumping above 7.5% how does rising rates playing out in the marketplace. >>> get a quick check on the markets with the dow just off session lows we are briefly down more than 400. down 360 for the blue chips. down 1.3% for the s&p to 42.82 the nasdaq the laggard down 1.3% as you might imagine, big tech names are leading the way lower. amazon, google and oracle seem 2 to 3% declines today more on that trade coming up. >>> also on the housing front, another weak number out today. new home sales down 8.7% in august the home construction etf down nearly 9% just this month. big bio tech mover to tell you about, soaring 90% immunovant. it could be an effective treatment to many auto immune diseases. >> as we mentioned the autoworkers strike heating up and getting more and more political. president biden, joining the picket line earlier today. and we sent two of our best there as well. phil lebeau and brian sullivan phil, let's begin with you tell us where things stand >> repor

courtney reagan with us on more on what we can look for -- never mind we'll talk to courtney in a minute> let's get a news update with s i silvana. >>> the president's son is accusing rudy giuliani and another attorney of misusing his personal computer data he's seeking more than $75,000 in damages this is the latest in a string of lawsuits brought by the younger biden against his gop critics. >>> russian commander that uk claimed its military killed appeared on the russian state division today he was shown making a remote appearance at a defense leader's meeting. nbc news has not verified when or where the footage was reported he was killed along with 33 other officers in a missile attack last week on the headquarters of russia's black sea fleet. >>> and hollywood writers came to a tentative agreement now they may be swapping places with video game actors and motion capture actors on the picket line. the sag-aftra union says these workers overwhelmingly voted to authorize a strike last night and will begin contract talks with gaming companies today. carl, back to you. >> thanks so much.

i am courtney reagan in for scott wapner.s following a hotter than expected inflation report. we are just one week away from the fed's next rate decision. does today's cpi print change anything? apple shares slide again today. standing by to debate all of it. joining us is steve weiss, joe terranova and kari firestone. a quick check on the market at noon eastern. losing a little bit of steam

courtney reagan, costco, stock is down 1% what do we expect after the bell in overtime today? gives us monthly comparable sales investors have a good handle on a big piece of the quarter the street is expecting 77.896 billion in revenue for the quarter on earnings of $4.79 comparable sales down 1.4% in june, but got better up 2.5% in july, 3.4% improvement in august evercore isi points out the quarter itself caps off a year with the lowest comp sale since 2017 for costco, but has growing traffic, growing membership. so a good setup going forward. membership fee expected to be worth $1.46 billion. and in membership renewal, that's one piece that is in focus. the possibility of an increase in those fees, the last membership hike was in 2017, costco usually hikes every five to six years, reluctant to hike the fee during this recent period of high inflation we're dealing with inflation is falling and he thinks the potential ty of the membership fee is coming in recent months. deutsche bank says we think it is coming, but more likely in december so we'll see if we get insight into

. >> to courtney reagan in for the judge. >>> welcome to "the halftime report." i am courtney reagan in for scott wapner. front and center your september playbook. the unemployment rate jumping to its highest level in more than a year. will the fed hold rates steady. the best place to be right now. joining me stephanie link, jim lebenthal, and rob sechan. a quick check on the markets. i would say modestly mixed, down by a third of a percent. also trending around that direction, the month of august has been closed out as we start september 1, but the vix is pretty low, trading just above 13. wti trading above $85. discretionaries pulling up the end. stephanie, what do you make of this goldilocks jobs report? does that mean the fed has done a good job? >> it's either high for longer or higher for longer, right? i thought the non-farm payroll numbers was a good report in terms of making progress for the fed, right? the adp confirmed that, the j.o.l.t.s. was also higher. a little bit of an easing in the labor market. that being said, initial claims are a leading indi

i am courtney reagan in for scott wapner. the road ahead for investors following a hotter than expected inflation report. we are just one week away from the fed's next rate decision. does today's cpi print change anything? apple shares slide again today. standing by to debate all of it. joining us is steve weiss, joe terranova and kari firestone. a quick check on the market at noon eastern. losing a little bit of steam. energy is the laggard down 0.8% and utilities leading the way higher by about 1%. the vix is just trading below 14 so things are feeling calm. joe, what do you make of the cpi number? trending in the right direction, would you say? >> 50/50 for november in terms of a rate hike. i don't think we did anything to gain a degree of clarity, what that move will be from the federal reserve. i think it just added to an overall environment for the month of september. i was asked last evening at dinner, how would you describe the month of september in the equity market, and i responded with sharply unchanged. and that's

courtney reagan has a closer look at the potential winners and losers.ney. >> so today is when student loan payments again begin to accrue interest. it's ironic timing, because many are buying for their own children for their back-to-school needs. around 44 million americans have federal student loans, and 60% of them are 40 years old or younger. that's prime child rearing age. it's estimated the student loan payment resumption will take a $14 billion bite out of consumer spending per month. a survey of 15,000 consumers found 20% have student loans with a payment of $356. they plan to cut spending across all discretionary categories when payments resume. apparel and footwear getting hit the most. more than a dozen retailers, including macy's, best buy, expressed concern that student loan payment resumption could take away spending from their businesses over the last quarter conference calls. jefferies forecast that amazon, walmart and target will be hardest hit, based on exposure to shoppers with student loan balances. jpmorgan says discretionary apparel

. >> to courtney reagan in for the judge. >>> welcome to "the halftime report."or scott wapner. front and center your september playbook. the unemployment rate jumping to its highest level in more than a year. will the fed hold rates steady. the best place to be right now. joining me stephanie link, jim lebenthal, and rob sechan. a quick check on the markets. i would say modestly mixed, down by a third of a percent. also

courtney reagan reacting to nike's post earnings rally. and much needed one, by the way.s quarter to sell off cruise stocks. mike, bad month, get out of here. >> a rough month. it felt worse than the actual headline loss on the index, like 4.5. for the third quarter, we're looking at basically 3.5% down on the s&p. you had down, up, down was the pattern. i do think that you paid a certain price here after a very exuberant july. i think the big question is it enough pain before you can essentially give way to a little bit more relief. i don't think you necessarily have to make too big a leap to say we aren't far away from that. everybody knows the market did get a little bit washed out. i just worry a little bit too much that everyone is looking at the same indicators that say we have -- we come to the end of september, seasonality turns better, like it is a free lunch and automatic. the seasonal stuff worked perfectly to date. may be too neat and tidy for it to pick up. >> the prevailing thought is that earnings are going to be pretty good for this quarter. >> the way i t

courtney reagan. that's a caveat. a lot of things can change at this point. tim, you are short, you've been short, much higher from here. >> yeah, and these were solid numbers, as courtney pointed out, but the gross margins holding up, it was down. it was better than expected. these earnings -- look, the top line was weaker and they haven't done this in two years, so, this is -- i think, telling you the story. china, i thought, was significantly weaker, and i still care most about north america and i care more about the profile of their core dtc business. if you listen to where the analysts, i believe, are, and jeffrey's downgraded from 140 to 100. the dynamic is, what are you paying for this company when their three-year was 27 times multiple? if you want to get to that number today at 27 multiple going forward, it's probably $125, $130 stock. i don't think it's expensive here. let's be really clear. at this point, by the way, i am, you know, more leaning to cover than i would be to press this short. i -- the level on the stock, it's down 30% from where it p

i'm courtney reagan in for melissa lee. we start with the unseemingly unstoppable tech run. a flat finish today it was a big week for the nasdaq. as the group leads the market out of the summer doldrums into a september to remember. apple breaking out. google hitting 52-week highs and nvidia continuing its monster run, up 230% for the year. can the technological advances keep up the momentum. carter is kicking us off with a look at the moves. >> before we get to the charts it's so many ways to look at tech. the xlk is the actual tech sector mirroring the standard sector. if one looks at the q's, microsoft and apple have a different weighting versus what they have in the xlk. or if you look at software, there's igv, an expanded software tech etf. where there is no apple. and apple has underperformed for almost 11 months, the tech sector. which is an incredible thing. let's look at a few charts and tr try to figure it out together. a table to make the point. igv, the shares expanded tech software over the past four months up 23 plus percent. qqq and xlk meanfully behind, and t

courtney reagan is here with what the street is focusing on.like this in the past few days. >> yeah. doesn't bode well for nike or sellers of apparel and footwear like nike and nike shares have shed 20% since the last reported. you talked about it being an under performer on the dow. the etf down 5% over that same period of time. bank of america says valuation, though, is fairly reflecting of the near cat ta list and those stl stloon payments will cut back on apparel and footwear spending and does present a worry for nike and others. consumers said they would shift to lower price points or a discount to buy and bank of america says data points from kwlathsic sports wear companies indicate the industry remains promotional. nike dealing with a choppy recovery in china. it's not its biggest market, but biggest growth opportunity so very important. jefferies points out the broader apparel slowdown remains a concern for nike there. nike continues its focus selling directly to consumers in its stores and website but wholesale is a big piece of its bu

. >>> let's get over to courtney reagan for the cnbc news update. >> police in pakistan say 60 peoplesuicide bombings at two mosques. the bombings took place in two provinces that have been the target of islamic militants in recent years. president biden honored the outgoing joint chiefs of staff mark milley at a ceremony today. he took a veiled shot at former president donald trump saying troops do not want to take an oath to, quote, a wannabe dictator. the comment came just days after trump suggested on social media milley should be put to death. >>> a navy is about to start randomly testing its special forces including navy s.e.a.l.s. four units will be selected each month and 15% of each will be tested in november. the army said it will soon follow suit. kelly, back over to you. >> thank you very much. >>> still to come on "power lunch," the final stop on our real estate tour across the country. we visit the most expensive market in america. oh, yes, san jose. and we've picked up a hitchhiker. we'll find out what a million dollars buys in the heart of silicon valley. we've got two

. >> we're going to dayton, ohio, home to another hot housing market and home of courtney reagan. houses staying on the market there for only five days. that's on "power lunch" at 2:00 p.m. come with us to dayton. >> this is always my favorite series. >>> coming up, china's property crisis intensifying as evergrand suffers another setback. what it means for companies doing business there next. >>> as we head to break, cnbc is celebrating hispanic heritage with stories of influential business leaders. >> as somebody who immigrated from latin america, one of the things i'm most proud of is the values i could bring from my hispanic heritage. my family is from argentina, peru, also from mexico. be yourself. embrace who you are. knowing where you come from is critical to set the path to success. >>> welcome back. evergrand taking yet another hit this morning after the company said it would delay a debt restructuring meeting set for later today. their hong kong-listed shares falling as much as 25% on the news which comes a month after the company filed for chapter 15 bankruptcy protecti

i'm carl quintanilla with courtney reagan and mike santoli. final week of september, and q3. futures read as we come off the worst week for the s&p nasdaq since march. busy few days ahead with global inflation data, fed speak, and earnings from nike and micron. we have the last trading week of the quarter. s&p drops further from this three- month throw at the open. plus, strike watch. hollywood reaching a deal with writers while the auto walkout enters its second week. ford says significant gaps still remain, and amazon's ai move investing some $4 billion in a chatgpt rival. let's begin though with a new market week. after four days of losses, mike, and we lost the 100-day moving average on s&p. >> yeah. new market week. you have the ten-year up 4.5%. we closed pretty close to the lows on friday, and now i think it's become -- the debate point is we expected we would have some seasonal weakness. we came into august overbought and overlogged and everybody embracing the soft landing scenario. now we have had a little bit of correc corrective mindset to that. how deep we have to

courtney reagan is here with a look at one not so rosy sales forecast, courtney? >> i know.ut it's almost mid september and market watchers and economists continue to debate whether the u.s. is in a recession or soft landing. the first forecasts are kind of having that same debate. forecast sales will grow between 3.5 and 6% today but the cpi reading puts prices up 3.7% so that's just about in line with the rate of inflation. the forecaster notes inflation did account for much of the retail sales increase last year and with this year's moderation, retail sales will grow more slowly. might just outpace inflation. however, the vice chair says the sharp rise in services spending is leveling off and spending on durable goods remains high. more cautious forecasting holiday sales will grow wujust . higher wages, higher dispose abl income along with higher stock prices could be useful tail winds. then morning consult shows that more than a quarter of americans starred holiday shopping as of late august and that those early shopping deals aren't doing so out of financial stress but

i'm courtney reagan. york governor kathy hochul declared a state of emergency for new york city after heavy rainfall and flooding. many subway and rail services have been suspended and the terminal at laguardia was closed. some areas will see up to eight inches of rainfall before the storms move on. parts of the city have experienced five inches of rain so far this morning. >>> las vegas police arrested a man connected to the fatal 1996 shooting of hip-hop icon tupac according to the associated press, which says police arrested dwayne davis this morning two months after they raided his home. the exact charges aren't clear. davis has admitted to being in the car when gunfire erupted the night tupac was killed 27 years ago. >>> a tennessee judge is ending a conservatorship agreement between michael orr and the touhy family. he alleges they tricked him into the conservatorship, saying they were adopting him. they have denied any wrongdoing. kelly, back to you. >> courtney, thank you very much. >>> still to c

i'm carl quintanilla with courtney reagan. >>> mizuho hoe's chief economist breaks down why powell's 2% target does not seem credible. >>> why and how to play it ahead. >>> we'll hear exclusively from bridgewater's ray dalio with his warning on the bond market. >>> an hour and a half into the trading day, major averages are higher, marginally so, the s&p 500 leading the way. carl, we are seeing oil prices down after yesterday's big run there. in the mid-92s right now. 92.56. maybe some relief because we saw those run pretty far, pretty fast. >> got to 95 today. vix below 18 after yesterday as well. as we get closer to the end of a down month for the major indices, our next guest doesn't see it getting better from here, forecasting more weakness ahead for stocks and a potential recession on the horizon. he does say there are opportunities out there in the market in places like health care and industrials. joining us on set today, sameer, senior market global strategist for wells fargo investment institute. great to see you back. >> thanks, carl. >> no chance you can close out the quar

. >>> time for a news update with courtney reagan. good morning. >> good morning.ple in parts of new england are preparing for hurricane lee to bring tropical storm conditions to the coast as early as this afternoon. lee is currently a category 1 storm that's not expected to gain strength as it approaches the coast. forecasters warn it's expected to be a large and dangerous storm when it reaches new england and atlantic canada. >>> today marks the 60th anniversary of the 1963 kkk bombing on an alabama church that killed four black girls. supreme court justice brown jackson will give the keynote speech this morning in remembrance of the girls' lives. the 16th street baptist church was targeted by the kkk because it was the center of the black community in birmingham and a site of large meetings during the civil rights movement. >>> sculptor and painter fernando botero has died. tackled political toings. his works have been featured in exhibitions across the globe. he was 91 years old. carl, back to you. >> thank you very much. >>> deal news of the day, not necessari

today we head to another hot, under the radar housing market that would be dayton, ohio home of courtney reagantes jumping above 7.5% how does rising rates playing out in the marketplace. >>> get a quick check on the markets with the dow just off session lows we are briefly down more than 400. down

. >> let's get over to courtney reagan for a cnbc news update. >> hi, tyler. mystery is deepening into the disappearance of a top chinese military official. antony blinken said this afternoon he has no knowledge of the status of chinese defense minister, he hasn't been seen since august 29th. reuters reported lee is under investigation by chinese authorities according to nearly a dozen people familiar with the matter. lee's absence comes two months after the disappearance and replacement of china's foreign minister. >>> the texas senate is now deliberating in the impeachment corruption style for ken paxton. the lawmakers will decide whether to remove paxton from office after hearing two weeks of testimony. a verdict could come later today. if convicted, he would be the first texas official to be convicted on impeachment charges in more than 100 years. >> and new york city mayor eric adams handed over the keys to the city to sean diddy combs. he's celebrating the release of his new album, the first studio album he's released in 17 years. >> thanks very much, co

conference call is under way courtney reagan is here with the latest court?teresting. they still report comps monthly, but still manage to beat on earnings and revenue and you mentioned the stock is down a little bit. conference call is ongoing it does end this fiscal year, the weakest fiscal year for comparable sales for costco since 2017 up just 1.1% for the quarter e commerce comps down. the company says on the call, those numbers weighed down by weaker sales of bigger ticket items. about half of its online sales are in that category so, that was the reason for the weakness there membership fees actually higher than expected at $1.5 billion. strong membership renewal rates for the united states, up 92.7%. in canada, that was up slightly over last year and slightly on the conference call, the cfe called out food, fresh food, being among the stronger categories big ticket december cession their items still a little weaker traffic was up more than 5%. average transaction or ticket, though, down 3.9%. gross margin grew 42 basis points and said that inventory s

courtney reagan joins us. >> when i look at this, winners keep winning.ly gains since june, and at a 52-week high. turning in a stronger than expected quarter, raising guidance and comparable sales for 12.1%. international sales make up just under a quarter of total. lululemon believes there's potential for that to double to half of its total in the future. unlike most retailers' inventory, up 14% to account for the pace of sales and a retailer with store expansion plans, including increasing store sizes and high traffic locations. many retailers experimenting with smaller stores, so the exact opposite plan. several analysts are pointing out that while u.s. sales and international and china-specific sales did grow, it was at a slower pace than the previous quarter. still citi says the quarter, quote, highlight's lulu's position as market winner. jeffries are sounding a warning for the quarter ahead. saying the brand is as strong as it's going to be while the belt bag tailwind will become a headwind. u.s. consumer is slowing. china growth could be uneven a

i'm carl quintanilla with courtney reagan and mike santoli. final week of september, and q3.ch. busy few days ahead with global inflation data, fed speak, and earnings from nike and micron. we have the last trading week of the quarter. s&p drops further from thi

courtny reagan joining us with potential winners and losers. courtney? >> good to see you. because many borrowers sending their children back to school. analysts estimate around 44 million americans have federal student loans and wells fargo says about 68% of them are 40 years old or younger. prime child-rearing age. meaning parents are spending on their back-to-school items for their own children at the same time their student loans are again encourage interest after the biden administration's debt relief program ends. deutsche bank estimates a student loan resumption takes a $14 billion bite out of total u.s. consumer spending per month. a survey of 15,000 consumers held 20% have student loans average monthly payment of $356 and plan to cut spending across all discretionary cat egories when payments resume. apparel and footwear cut back the most. macy's, dollar general, best buy expressing concern student loan payment resumption could take spend august way from their businesses. j jefferies hardest hid, walmart and others. footwear most at risk calling out, also apparel,