we're expecting to get its fourth quarter results after the bell today frank holland is back with another. what do we expect, frank. >> first and foremost this is the first earnings call for the new ceo so a lot of interest in his commentary and what he's going to spell out as his agenda going forward. the second thing to talk about here is pricing power. they're curious what kind of pricing power fedex still has. one of the areas to watch is express. that's where fedex gets about half of its revenue. revenue per piece hasincreased double digits over the last three quarters revenues forecast increased by 9% year over year, but earnings, eps is expected to increase or forecast by analysts to increase 37% year over year that infers that a lot of people still believe fedex has really good pricing power but people are spending less on e-commerce and going to the store more and spending more on services and things like that. and you mentioned in addition to the new ceo, fedex announced the plan to increase its dividend. that came from pressure from an activist investor, d.e. shaw and want fede

frank holland here now with a look at how the ransports are dealing with the jump in gas and diesel frank down over the past week as investors have become more and more concerned about rising fuel prices. $5 a gallon is nothing new for trucking and logistics prices for diesel, the fuel, the supply chain crossing that mark weeks ago and rising even more than consumer prices have. the biggest publicly traded players they can actually benefit. they charge customers a fuel surcharge based on retail prices while they pay pretty close to wholesale. two of the largest truckers, night swift, jb hunt, they reported 10% of their revenue or more from those surcharges last quarter. fedex and saia also have a fuel surcharge in place, but the rising cost of gas can hit consumer spending and therefore inventory demand i spoke with the ceo of supply chain tech company zebra technologies they say their customers are still acquiring inventory to meet changing trends >> having the right inventory is probably the challenge for most. if you look at retailers, for a lot of retailers have said in the last month

we'll tell you what they were and bring you those trades i'm frank holland in for melissa lee. this is "fast money. on the desk, tim, brian kelly, steve grasso and pete najarian we start with that deep sea of red on wall street the s&p plunging nearly 3%, closing back opinwithin a perceo bear market territory. amazon down more than 5.5% all manl major indexes within a whisper of their lows. the two-year treasury yield surging above the 3% mark since only back in 2008. the reason for all this turmoil, inflation clocking in higher than expected in may the jump so jarring that not one, but two, i'm channelling my inner lebron james they're calling for a 75 point basis hike next week so with a more aggressive fed and continually volatile market, how should investors set up? tim, you just started. i'm going to go to you >> it's a somber day, but exciting day to have you on fast awesome to have you here >> this is not my first time >> first time in that chair. doing that thing it's awesome great to have you. and it's a day when, look, i know equities are front and center and we have

now let's get to frank holland for the cnbc news update. >> hi, kelly i am frank holland and here's yourc news update at this hour the supreme court could hear a case to give the final word on setting rules for federal elections. the state courts can find violations of state constitutions. that case is set to be argued in the fall vaccine manufacturers should update their covid-19 booster shots to target the recent omicron sub variants gaining ground against the southwest they want to upgrade the booster shots ahead of the fall. a northwestern university study revealed the number of newspapers here in the u.s. has shrunk by 28% in the last 17 years. 2500 papers have been lost since 2005 in the last two and a half years, 260 papers have shut down and almost all those publications serve small communities. the study found 70 million americans live in a county with either zero or just a single local news organization. that's the very latest >> eamon, back over to you >> ahead on "power lunch." climate change, stripping the epa of its ability to regulate emissions and what this means r e er i

. >>> thank you very much frank holland. checking out what's happening with the markets overall you have to take a look at what's happening with apple and mega cap technology stocks is it time to buy apple shares who knows what's going to happen look at that what's happening elsewhere in the market a big meeting for the energy summit ceos meeting with the administration right now we'll see what they have to say and what it means for oil prices. >>> we have an earnings exchange coming up. it's all about the consumer. give you the action, story and trade on car max, carnival and fedex ahead of earnings reports. >>> we begin with markets approaching session lows right now. let me show you the boards right now. down 11 points, 3748 on the s&p 500 at the lows of the day, that's it. we were down 12 points at the lows of the day. up as high as 36 handles, 36 points on the s&p. to give you an idea of the trading range so far today the dow industrials down about one half of one percent. the nasdaq up just 8 points now, 11060 just abo

frank holland from cnbc and andrea mitchell.course, the host of andrea mitchell reports here on msnbc. kelly, the economic picture for this administration is front and another. they are talking about inflation is the number one priority. we will talk about this with one of the president's top economic advisors later in the show. you heard the president when he met in philly today. >> reporter: yes, the president relies on the support of union workers and organized labor. so as a political message, getting them onboard is key. and trying to connect with them is important. the president was trying to stress the areas he thinks his administration has shown some progress. and so he did a little bit of reminding how things have changed since he came into office. some of the crises that he has, in his view, helped to improve, but acknowledging some of the tough things americans are facing right now. >> republican congress are doing everything they can to stop my plans to bring down the costs for ordinary families. that's why my plan i

team it is wednesday, june 8th, you are watching "worldwide exchange," good morning you to, i am frank holland in for brian sullivan let's kickoff at this hour with the markets. the dow can open about 100 points lower all three indices about a third of a percent lower ave every index remains in bare market territory, down 10% or 20%. the nasdaq lagging, sitting at 24.9% from its all time high checking the bond market with the 10-yr at 3.01% this is a rapid rise two weeks ago from today, this 10-yr yield was 2.74 now, oil market. this morning we are seeing at $120 per barrel. you got to remember what happened on u.s. inventory coming up later today and more demand of china reopening. speaking of oil, the energy sector continues to surge, trading at its highest levels. we are talking about eog resources, diamondback energy, all of them are trading at all time highs let's look at the crypto currency market right now. we got to check out -- bitcoin down a percent this morning. let's get a check on the trading action all around the world. j.p., good morning, let's kick it off with you. >> it was a

the prospects of recession and other headwinds. >> frank holland, thank you. mike, sorry to pick on datadog, but what should the correct valuation be for a high growth cloud name, whether profitable or unprofitable. every time they get super cheap, they continue to go lower. relative to where they were. >> i mean they're way cheaper than they were on a price-to-sales basis even six months ago so i think a lot of that it's really is this the right idea for this moment in time when you have high nominal growth in the economy. stuff that has current earnings, current cash flow and share their shareholder capital return so it's a tough spot to be in. what's interesting too is a lot of attention is on the very largest nasdaq stocks. apple, microsoft because the game is how high are they still relative to their pre-pandemic peiece you have so many parts of this market and those are two stocks that have not. apple in the high 120s, almost 130, it was around 80 in february of 2020 microsoft was at about 185 so plenty of room to go to the downside it doesn't mean they

i'm frank holland in for brian sullivan begin with futures as we always do right now, kind of flat.the dow up slightly above pretty much fractionally. the nasdaq down very much fractionally kind of a flat start dow could open up. we turn to the bond market yields ticking slightly higher the 10-year at 2.864%. got to keep an eye on these in june as we expect more rate hikes to come. we also want to hit energy oil is coming off a 10% gain in may. sixth positive month in a row. longest monthly win streak since april of 2011. see the chart going up, up, up, up, wti about 10% a barrel higher than it was also, a sudden surge is up for a gallon of gasoline $4.67 a gallon a year ago it was over 3 bucks more than 50% increase as you can see. now to your morning's top stories and the president and fed chairman coming together to try to figure out how to tackle inflation. bertha combs is back with much more on that good morning again, bertha. >> reporter: good morning, frank. fed chair chay powell and president biden meeting at the white house discussing the administration's plan to combat hig

frank holland has more on cybersecurity and why many people consider it to be recession proof, frankseema cybersecurities certainly on the mind of corporate financial decision makers. take a look. 68% of cfos say their company is spending more on cybersecurity to protect their data and networks with 46% saying their companies are either more vulnerable or just as vulnerable as it was last year and that coming as many as 85% of cfos see a recession coming next year more than two-thirds believe it will happen next year announcing a big economic downturn in 2024. this survey taken between may 12th and june 6th. cfi came in at 8.3%, near a 40-year high russia was preparing for a long war in ukraine and on may 10th, fed president rafael bostick said supply chain issues were easing and the fed achieving the quote, unquote, soft landing and he said that would be difficult. cybersecurity spending is up and they do not see it as the biggest risk of this business and more than 40% of rising prices with only 5% with threats along with the war in ukraine, those two things often tied together >>

report, i am frank holland in for scott wapner stocks trying to build on last week's big gains the majors coming off their first positive week in the last four. two questions here, is this just a bear market rally, or could it be the beginning of a bottoming process. we'll debate that and the next move for your money. our investment committee today, joe terranova, steve weiss, coand right here with me on set, jenny harrington first let's get a check on the markets this hour.

winners after beating wall street's earnings estimates thanks to strong demand in its cloud business frank hollandallying. what could it mean for some of the other cloud names that have been under serious pressure this year >> investors are taking the 36% growth of oracle's infrastructure cloud business as a sign that much better days could be ahead, despite the growing interest rate pressure, the risingdollar oracle's cloud infrastructure biz competes with amazon, microsoft and google they have roughly three-quarters of the market. oracle more known for their legacy business. analysts say a boost to their business is a sign of expansion and continued transition to the cloud, not a sign of delay or contraction when it comes to that trendi and if you're moving to the cloud, one thing you need is cybersecurity. we're watching those stocks today. as we mentioned the dollar, the strengthening dollar, up 10% this year. oracle citing a currency impact of 3 to 4% the fact that they were able to grow their business when they have so much business overseas, a very positive sign about those trends not only

report, i am frank holland in for scott wapner stocks trying to build on last week's big gains the major averages coming off their first positive week in the last four. two questions here, is this just a bear market rally, or could it be the beginning of a bottoming process. we'll debate that and the next move for your money. our investment committee today, joe terranova, steve weiss, coand right here with me on set, jenny harrington first let's get a check on the markets this hour. the dow and the s&p rebounding reversing earlier losses we're seeing the dow and the s&p in the green the nasdaq still fractionally lower right now. we're also watching the ten-year note yield right now with 3.185% a lot to get down to we're going to start off with you jenny because you're right here we have a special connection we started here on cnbc, so i have a special question for you. >> great. >> is this the bottom, or is it a bear market rally? >> i think we've been in a bottoming process. i don't think it's a recent phenomenon that we've been in it if we think back to may, the s&p touched down to neg

. >> frank holland. >> a key event to watch. >> well, the next hour, the most important hour of the trading day begins very shortly. it looks like we're going to go out with a big green week. >> 6% or so for the nasdaq, everybody. thanks for watching "power lnch." >> and "closing bell" starts right now. >> thank you, tyler and kelly. stocks are in rally mode we're actually at the session highs, up 700 points on the dow adding to a strong week of gains. the most important hour of trading does start right now welcome to "closing bell." i'm sara eisen here's where we standing in the market the s&p up 2.6%. it's a broad rally with every sector in the green right now. the nasdaq i2.7% the best performing sector at the moment is financials clean bill of health from the stress tests yesterday also a cyclical rally in general. materials, industrials, technology, that is what's leading. check out some of the biggest winners this week in the s&p 500. it's a very strong week, up 6% for the s&p, especially for etsy, up double digits a lot of the most hammered names during the sell-off over the past few

meanwhile, mongodb, we mentioned, also hosting itsd investor day today that's where we find our frank holland who joins us with a special guest. hey, frank >> hey there, carl i'm joined by dave, the ceo of mongodb, joining us today on your worldwide user conference packed house here in new york city >> great to be here. thanks for having me >> earlier today, you had product announcements. you also gavethe keynote address to this crowd. can you share with us the message you want to send to developers and also investors who are here today as well >> i think the main point of this conference is to show how far we have come as a company. what we have basically shown is a lot of people who didn't really think we could fundamentally change how data is managed have seen how quickly we have grown we now have 35,000 customers we have grown very quickly, delivered stellar q1 results, and this conference, you yourself commented, the attendance is huge we have about 3300 people in new york, and we haveshown what we're doing is deploying a developer data platform. that platform is enabling developers all

"the exchange" begins right now. >>> thank you very much frank holland.ave to take a look at what's happening with apple and mega cap technology stocks is it time to buy apple shares who knows what's going to happen look at that what's happening elsewhere in the market a big meeting for the energy summit ceos meeting with the administration right now we'll see what they have to say and what it means for oil prices. >>> we have an earnings exchange coming up.

frank holland, tech stocks down more than 3% frank? >>. >> docusign with soft billings guidance and that's money they expect to see from customers in the near future and inflation would hit the full-year returns and cpi coming in at a 40-year high and the ten-year spiking above 3.1% and broadly hitting tech let's take a look at the xlk, etf. and the cloud computing etf and the cyber etf all hit hard by the ten-year spike and you see the reaction earlier this week and later this week is the ten-year spikes. cybersecurity and not sure if the narrative still is now the online shopping and logistics business, with two-thirds of revenue giving the most exposure to consumer and google outperforming this group, at least down more than 2% think, we have to look at what's working today on the nasdaq. chinese internet stocks, pin d duo is before the new shanghai lockdowns and also kraft heinz seen as having the pricing power to pass along rising costs due to inflation kelly, back over to you. >> thanks, thank you very much let's turn to the bond

frank holland with us on docusign's big plunge and barclay's jonathan miller on why he is expecting abasis point hike from the fed. kr cpi data showed hotter than expected inflation and the markets have clearly adjusted to this on top of what has already been a pretty difficult period how long do you expect this move to last us is this the new regime we're in for coming weeks and months? >> it's very tough to say, sara, because i don't think -- first of all, this is may data we knew more or less how this was going to look, we just didn't get lucky with it i think it's three months out of 24 that economists have been high enough in their estimate of cpi inflation so clearly the market is trying to catch up to what the prices have already done obviously the fed is in a similar spot right now and have we now finally gotten to a point where the fed path is reasonably priced it's tough to have confidence in that because you're not going to know for multiple months before you have a downtrend that all being the case, i do say investors have remained fairly defensive there's not been a lot o

>>> it is friday, that means it's time for options action i'm frank holland filling in for melissa lee. joining me tonight, mike, tony, and a special guest appearance by bonawyn we're wrapping up a rough day on wall street. stocks plummeting after hotter than expected cpi data nasdaq falling more than 3.5%. each index closing out its worst week since january mike, start with you >> it's pretty grim. i think that much is clear and i think one of the things we have to take a look at is you know, what's the next level i think for the s&p. it seems very difficult for me to imagine we're not going to retest those late may lows i think that those are firmly in play at this point and i'm kind of, you know, the thing that's more surprising to me is that people are surprised by these inflation numbers. if you're sort of tracking the data, i think that high inflation is well understood by now. we didn't expect this number to be any lower than it is, but i think what we're really looking at is that rates are going to have to go higher and i mean a lot higher to start correcting this and if rates

frank holland joins us frank, we've another other cloud stocks hit why is crowdstrike immune and maybe as well? >> you know, not totally immune but we're starting to see a trend of cybersecurity being increasingly -- take a look at this, these are reports from crowdstrike, okta and splunk these companies generating a lot of cash and doing better than the estimates believe they would. also they cite increasing spend from the federal government. certainly not subject to that same pressure from currency and also from international customers. a very different story than we're hearing from a lot of cloud names. they said their customers are spending less because of the stronger dollar. you mentioned the rising yield on the 10-year, now above 3% when you look at the last two weeks especially, cloud stocks underperformed cybersecurity they are doing twice as well over that same time period the biden administration put out data maybe about two months ago that more than a third of cybersecurity jobs here in the u.s. are unfilled. about 38% of those jobs are up fi unfilled one ceo thinks it's hi

let's get to frank holland and the half >> welcome to halftime report.apner stocks plunging. the s&p on track for the worst first half since 1970. yes, the nixon presidency. where are stocks going the second half, what do investors do from here we discuss with the investment committee. bryn talkington, jason snipe, josh brown, jon najarian, co-founder of market rebellion.com. major averages bounce off lows dow down almost 250. on pace fo

booking.com >> turning to e-commerce some shipping companies playing a key role in those businesses frank holland spent time with the ceo of fedex and has more. frank. >> good morning to you, john fedex shares moving lower after the company released new financial targets through fiscal year 2025 to increase holder value. that includes increasing the company dividend pay out we spoke to ceo earlier today about the current e-commerce market he doesn't believe amazon is direct competitor and says the investment have set up the company to compete with ups for large retail and small and medium size business customers >> we are the critical infrastructure for e-commerce. we have a much more diversified portfolio than our direct competition. i think we're well positioned from a physical point of view and a digital infrastructure for this marketplace >> another major focus for fedex going forward is the electrify indication of its delivery fleet. ford expressed delivery. that would only be a fraction of the fleet but part of the company's commitment to be carbon neutral by 2040 they are planning to work

frank holland explains >> transports are up today, but down over the past week as investors become moreics. but $5 a gallon is nothing new to trucking. diesel prices, that's the main fuel for the industry, they crossed $5 weeks ago and have risen even more sharply lanconsumer prices but the largest players can benefit from rising prices because they charge customers a fuel surcharge based on retail prices while they generally pay just over wholesale prices. in fact, two of the largest truckers got 10% of revenue from those surcharges the real question, how gas prices impact consumer spending power and inventory needs. i spoke with the ceo of zebra tech technologies he said his customers are still moving inventory, they're adjusting to rapidly changing trends >> having the right inventory is probably the challenge for most. if you look at retailers, i think what a lot of retailers have said in the last month or so was that the demand pattern changed quite a bit. >> and those higher fuel prices may actually help those public players as one of the factors is reducing new truck orders and t

here with the story on asana is our frank holland and david wagner with our trades welcome to you bothe you watching >> number one, kelly, a lot of excitement about this work management stock, up double digits along with other stocks in the same group. this stock has seen steady growth during the pandemic due to hybrid work, people working in different places. estimates are for a 36 cent loss, as you mentioned, not profit making just yet revenues of $115 million the metric will be customers and customer growth. estimates are for just over 124,000 customers, a net add of over 5,000 customers a lot of people see the pandemic winding down with many offices gently pushing their workers to come back to the office or in the case of tesla and elon musk not so gently. the real question is are customers still signing up for their services, or do they still need these workmanagement platforms or are people coming back to the office and working face-to-face the second metric to watch, and i have to say this right, net-based dollar retention a fancy way to say your customers you currently have, ar

frank holland's got the latest from the call. frank >> well, fedex moving higher on better than expected guidance in the first earnings call for the new ceo. very optimistic considering some of the commentary on the call. above the estimates. the results were mixed despite the eps. expressing ground revenues and margins were below freight was the standout >> we have worked through many networks efficiencies caused by labor shortages. although wage rates remain higher than this time last year, they are stabilizing still, covid-related conditions slowed global recovery and pressured second half performance. >> he was also concerned with the global slow down and some of the geopolitical pressures, but double digit increases for express and ground >> thank you karen, you own this one. >> i do. i like what they're saying about the guidance tiny miss on eps and revenue, but they seem to be getting the yield numbers on the packages are really good. i like that. they did do an aggressive buyback. they still have more to do in a buyback.

our own frank holland has the story. es today is nancy tangler let's get to the story first, frank. i'll hand it over to you >>> hey there, dom earnings coming up after the bell today, estimates for $582 million. eps 46 cents a share that's not really the number to watch. the number is billings that's a backward looking metric this time it will be insightful about the future of docusign if that number can meet estimates, it's a very good sign even as we enter a quasi post pandemic environment, hard to say we're past the pandemic, but people are doing more things in person including signing documents in person like houses, cars, et cetera are they able to maintain that customer strength and possibly customer growth? that's something to watch right there. also the company sensitivity to other macro factors, the ten-year yield, the rising dollar, which we've seen throughout the last month or so. the stock performance the last month is up more than 25%. some of that a big boost from the microsoft partnership announced yesterd

pinterest on pace for its 12th straight month of losses down 80% in that time it's down 8% now to frank holland for a cnbc news break >>> here is your cnbc news update this hour ketanji brown jackson was sworn in as the supreme court's 116th justice at a small ceremony earlier today. she becomes the first black woman to sit on the nation's highest court. the final set of rulings were set for the final term he served nearly 28 years. >>> police officers fatally shot an emergency room patient outside of dallas. police responded to a call after a nurse spotted the gun. the patient fired the weapon when police confronted him no other people were hurt and the incident is still under investigation. authorities are still looking for a motive >>> and patrick leahy, third in the presidential succession line, undergoing surgery for a broken hip doctors recommended the operation after the 82-year-old senator fell at his home last night. he will receive physical therapy treatments and is expected to make a full recovery that's the very latest kelly, back over to you. >>> let's get out to kate rooney what's

let's get to frank holland and the half >> welcome to halftime report. i am in for scott wapner stocks plunging. the s&p on track for the worst first half since 1970. yes, the nixon presidency. where are stocks going the second half, what do investors do from here we discuss with the investment committee. bryn talkington, jason snipe, josh brown, jon najarian, co-founder of market rebellion.com. major averages bounce off lows dow down almost 250. on pace for the worst month since march of 2020, since start of the pandemic. the s&p on track for the worst first half in more than 50 years. september 2008 to february, 2009, bob pisani has a great article about that nasdaq was down 3% earlier, set for the worst quarter since q4 of 2008, back to the great recession. ten year yield under 3%. what sectors do you like for the second half of the year? >> unfortunately the history lesson is not over because i have something to contribute to all of these history lessons that we are hearing that i think is important because situational awareness, situational awarenes

let's go to frank holland for the news update. >> a former trump justice official jeffrey clark it canwas law enforcement activity in that area, however it declines to comment on specifics he emerged as a key player in donald trump's efforts to leverage the powers of the department of just tice to confm the 2020 corruption. the doj will be examined on today's capitol hearing. the acting attorney general will testify to the house's special committee. that session is scheduled to begin in a half hour from now. a judge giving final approval to a settlement topping $1 billion to the victims of a surfside, florida, collapse that killed 98 people last june that comes a day before the tragedy's one-year anniversary that's the latest. courtney, back over to you. >> what a tragedy that was thank you, frank >> up next on "power lunch," first famed financial adviser suze orman betting big on i-bonds and can inflation throw awrench in that game plan and our three-stock lunch laying out the plans of the day and whether you should buy or sell we'll be right back. y to support that village. ♪ ♪ i am

representatives from new york stock exchange listed companies looking to increase representation in tech frank holland to protect the work force looks like the overall work force. >> hey there, jon, that summit is going on now, upstairs from where we are at the stock exchange black workers makeup 11% of the overall work force, continue to be underrepresented in stem and tech, including engineering and programming jobs today's meeting between historically black college administrators and presidents and companies listed hope to create a pipeline. meeting of the minds the first to create internships and job opportunities for students and creating better understanding for tech companies about leveling the playing field for hbcu students to succeed professionally. >> if you want to be a partner with us, start from the moment students enter many are first generation college students and first generation corporate >> another goal, to create equity in compensation black female tech workers make 25% less jon, back to you >> thank you. >>> it was a busy week in the markets. make sure you didn't miss a moment th

frank holland joins us to break down the numbers. >> hp inc. out performing other pc makers. the company citing strength when it comes to sales of personal computers and desk tops to corporate customers that are spending headsets and keyboard sales rising inflation is hitting consumers, but companies continue to spend. during his appearance on "mad money" last night. >> our commission business grew 18% and represents now about 65% of the total pc business which is a very solid number. >> similar to salesforce yesterday the primary impact was consumer sales he said the rising cost of components is adding to supply chain issues and sourcing components, the difficulty there he expects to last throughout the end of the year. >> frank, as i was looking at very different industries, but salesforce at hp and their capital allocation programs were very different which i thought was interesting. salesforce saying we're not really thinking about returning capital quite yet. but hp, right, they're committed to buying back $4 billion in this current fiscal year they want to be 100% retur

. >> frank holland has the headlines for us >>> here's the cnbc news update this hour. trump adviser peter navarro after refusing to cooperate with the january 6 investigation. >>> two women are dead in ames, iowa after a gunman opened fire in a church parking lot before turning the weapon on himself. this is hours after five were shot attending a funeral in ray seen, wisconsin. so far, no deaths reported in the past nine days, 20 shootings where four people were hurt or killed devastated communities across the country in a prime time address last night, president biden called for action. >> my fellow americans enough enough it is time for each of us to do our part it is time to act for the children we lost, the children we can save, the nation we love. let's hear the call and the cry. let's meet the moment, let us finally do something >> and that's the latest halftime report will return after this because you've got the next generation in global secure networking from comcast business. with fully integrated security solutions all in one place. so you're covered. on-pre

sometimes eight-year loans >> wow i didn't know they had those phil lebeau, thank you let's get to frank holland for a cnbc news update. >>> san francisco bay area residents got woken up by a jolt this morning, a small, relatively small earthquake struck in san francisco shortly before 4:00 a.m. local time and felt to sacramento >>> two manhole explosions in downtown boston. one woman suffered burns and injuries and two buildings were evacuated due to carbon monoxide concerns and the cause of that remains under investigation. >>> tip-off for game one of the nba finals is tonight and if you're watching the telecast, you may notice the absence of very familiar voices and commentator jeff van gundy he missed sunday's eastern conference finals telecast due to covid and espn adrian insider ad adrian wojinowsky. >> who does that leave mike jackson of the three? >> mark jackson. >> i think it is mark jones who stepped in the other night for mike green cho is the signature voice of the nba that's interesting frank, you kelly and i will raise our hands. >> i'm free. i'll be watching so if they want to fl

for slowing international revenues this morning, morgan stanley downgrades adobe to equal weight frank hollandech frank. >> yeah, definitely developing story. cloud and enterprise stocks have falls 33% in q2 alone, almost double the s&p due to growing interest rate pressure another growing headwind, the stronger dollar. especially for companies that charge for their products in localal currency. the list of companies expected to see continued negative impact from the rising dollar due to taking local currency include big names like microsoft, which gets 40% of its revenue outside the americas ad adobe, about 44% of revenue. salesforce, a third of the revenue outside the americas we have seen considerably stronger gains for the dollar than we have during the pandemic and even in 2019 right before the disruption, historically, raising interest rates has also led to a stronger dollar on june 2nd and microsoft warned of negative impact from the stronger dollar, since then, rising another 2.5%. and when you look at the gains against other major currencies, the euro falling 4.5% to the dollar in q2

. >> frank holland. >> a key event to watch. >> well, the next hour, the most important hour of the tradinge we're going to go out with a big green week. >> 6% or so for the nasdaq, everybody. thanks for watching "power lnch." >> and "closing bell" starts right now. >> thank you, tyler and kelly. stocks are in rally mode we're actually at the session highs, up 700 points on the dow adding to a strong week of gains. the most important hour of trading does start right now welcome to "closing bell." i'm sara eisen here's where we standing in the market the s&p up 2.6%. it's a broad rally with every sector in the green right now. the nasdaq i2.7% the best performing sector at the moment is financials clean bill of health from the stress tests yesterday also a cyclical rally in general. materials, industrials, technology, that is what's

. >>> i'm frank holland.enskyy said the battle in a key city could determine the fate of eastern ukraine. the mayor of that city says ukrainian forces still hold an industrial situation, calling the situation difficult but manageable there are 10,000 residents remaining there that cannot be eva evacuated. >>> iran's plans to remove surveillance cameras, the iaea passed a resolution criticizing iran >>> in southern spain, a massive wildfire is forcing residents to evacuation the country's military is helping firefighters try to go contain that fire. that's the latest, carl. back over to you. >> frank, appreciate that. >>> checking in on the markets, a bit of whipsaw action, but relatively range bound, trying to hold on weekly gains. joining us thor -- this morning is ian shepardson and amy silverman. good to see you both thanks for the time today. ian, business print tomorrow the general sense is it will be hot once again any reason to doubt that. >> not really. the rent, the airline fares, car price, it's goi

. >>> time now for a news update frank holland has that for us.escape t texas prison er was shot. the sunshine state is brace fog a potential tropical storm, brewing in the gulf of mexico is expected to bring heavy rain the system has sustained winds of 40 miles per hour and expected to develop a well-defined center and become a pro tropical storm named alex. the winner was decided in a spell-off. irina logan attempted 26 words in 90 seconds. she got 21 right this time she got to go home with a $50,000 check that's the latest. mike back over to you. >> after the break, don't miss our exclusive with jan hatzus. >>> we are back in two ♪ ♪ wow, we're crunching tons of polygons here! what's going on? where's regina? hi, i'm ladonna. i invest in invesco qqq, a fund that gives me access to the nasdaq-100 innovations, like real time cgi. okay... yeah... oh. don't worry i got it! become an agent of innovation with invesco qqq ♪♪ making friends again, billy? i like to keep my enemies close. guys, excuse me. i didn't quite get that. i'm hard of hearing. ♪♪

tomorrow night >> he'd walk a mile for a camera, that fella >> our frank holland will talk to him took a look at celsius, didn't like what he saw >> celsius seemed a bit undercapitalized >> yeah. >> took a look at robinhood. has he called jamie dimon? >> sam >> jpmorgan. >> a good question for frank to ask. >> don't you think the arrogance of this fella -- hey, you know what, i had two guys on, the pinterest guys on last night >> yes >> bill ready and ben silberman. ben's great and i felt bad for him, jim, here a billionaire, whatever, but pinterest is a question with 400 million users and the stock goes down all the time pinterest is a valuable company. i think they'll be able the figure out how to monetize -- you can't monetize anything. you can't buy things on pinterest. look at that >> you just talked about the global inventory glutz >> yes >> people feel they have enough stuff for now. >> they don't want to travel they don't want to shop. what are they doing? what are they doing? watching the boys? is everyone watching "the boys"? >> the old man >> maybe they've -- maybe they're r

sam bankman frooed will be joining frank holland and his warning that more crypto insolvencies are comingmorrow night on cnn benjamin >> thanks, melissa coming up, we will discuss the president's energy policy, his upcoming trip to saudi arabia and much more all right now. as can you see, below0 on wti. we'll be right back. there's a reason comcast business powers more businesses than any other provider. actually, there's a few... comcast business offers the fastest, reliable network... the protection of securityedge™ and the most reliable 5g network. want me to keep going? i can... whether your small business is starting or growing, you need comcast business. technology solutions that put you ahead. get a great offer on internet and security, now with more speed and more bandwidth. plus find out how to get up to a $650 prepaid card with a qualifying bundle. >>> president biden wrapping up his trip overseas where oil was a major topic among global leaders. joining us for more on this president's energy policy, a former obama official, and now with the center for american progress and vive

we have frank holland with more. >> good morning, joe 1 million people follow earn your leave on instagraml education trending in the black community. summer music festivals are back. but the crowd in philadelphia isn't cheering for the favorite song or dancing to the beat. instead, they are here for a podcast. probably not the kind you would think. >> you don't need a lot of people to become wealthy >> these fans want to know how to make money. >> i feel like the movement is getting bigger and bigger by the day. it is going global >> troy and rashad launched earn your leisure he is a public school finance and financial adviser joined forces to aim investing for the black community. >> if we were at barber shop, we would talk about the top companies. what this can do for the neighborhood or the barber shop. that is the goal >> here is what you do open a brokerage account >> it is part of the movement of influencers on social media. >> if you are trying to short the market, you're late. >> learn how to diversify. >> the same goal of teaching the black community how to balance books and buil