, not just supply chain headwinds it's the way inflation is playing it into that i mentioned hormel,evel for the stock since march 2020 management warned of rising costs in the quarter the ceo saying we saw significant inflationary pressure in almost all areas of our business now this is as proctor & gamble is ramping up production of paper towels and toilet paper again. mike, spam might have some pricing power, but analysts have long said the rest of hormel's offerings don't have as much brand strength as competitors. >> right exactly. and campbell's yesterday had similar things to say about the cost pressures, about the attempt to pass them along, about transport costs and everything else. i do think there's a real separation that's gone on within the general consumer staples area between the food companies, the packaged food companies which, if you remember last year, part of the narrative was, hey, everyone is pantry loading they are kind of learning to love our brands again and re-establishing relationships with the traditional brands. maybe that has legs. and now you're going u

so you could look at companies like pepsi, for example, or coca-cola or companies like hormel we believe those are the types of companies you should overweight your portfolio. low quality has had a tremendous run, companies that have a lot of debt on their balance sheet over the course of the last six to eight months. they have outperformed we believe now it's time to make that rotation into high quality. >> what has changed, chad, to make that the better play right now? what's different >> great question. one is valuation, two, it's the fact that you have a global economy that's starting to normalize back to trend growth and, three, you do have a lot of liquidity and euphoria with valuations that are quite topee. it seems like everything is now a new asset class. with that said you want to be just a little bit more circumspect, buy the steady eddie companies and don't try to chase the market at this point >> hugh, i don't know whether you come down in the same spot in sectors and stocks that you favor right now but i do know that you are concerned about a slowing from the macro standpoi

peanut is moving to minnesota's part of hormel food's acquisition of planters and they're giving awaywo night stay in the nutshell in for $3.59. the cost of a jar of peanuts and the booking opens tomorrow and only one person will win. >>> that's your cbs money watch report. for more head to cbs money watch.com at the new york stock exchange. i'm diane king hall. >>> and they started the day as regular people, but now four civilians can call themselves space explorers following a special launch aboard a space rocket and they're on a history making trip that could change space travel forever. >> we look at the journey they'll go on. >> inspiration forest crew blasted off from florida into space history. >> everything continues to be good. >> the private flight was the first for elon musk spacex with no official astronauts on board. >> i'm pretty sure i saw simon proctor give us two thumbs up. >> billionaire jared isaacman is the commander that chartered the flight and the price tag is reportedly about $200 million. >> that significant responsibility. >> that responsibility being the fir

hormel down something like just under 2% right now. >> makes sense i stocked up on all those foods, and guess what, they're still fine they don't go bad. you don't need to keep buying them. >>> speaking of a big mover today, apple really having some pretty strong performance, 1.3%, which for a $2.5 trillion company is significant we of course talked to tom forte earlier in the hour about some of the tail winds that company has been experiencing, and so you know, despite news that would indicate they could be feeling some margin pressure, investors seem to be shrugging it off and sending a stock upward today. >> halo effect of all these little incremental like new features and you know, driver's license in your wallet it's stuff that doesn't necessarily filter directly through to the numbers, but. >> gets investors excited. >> creates a sense there's a lot going on there. >> that quarter, and again, 81.4 billion in revenue. i still come back to those numbers. it was a 36% increase in revenue, 39.6 billion in foam. up 50% in iphone sales and made over $21 billion in income that was last q

first of all we'll start with a big earnings report from s&p 500 company and that's hormel.umes. this after hormel the big package food company behin spam, chili, other big brands come out with earnings that matched estimates. they cut their full year profit forecast the company saying all parts of their business have been impacted by inflationary pressures. also watching what's happening with electric vehicle makers like tesla, like chinese makers like nio tesla down, nio unchanged. we're watching what's happening with chip stocks out there like st micro, like semiconductor because of that continuing chip shortage that's what's making tesla push back its launch of roadster until 2023 keep an eye on those then we'll end here with the crypto currency side of things because bitcoin prices did go above that 50,000 mark earlier on in this trading session so far. currently just a hair below, 49,930 ether up another 1% just below that 3800 mark that by the way, ether has huge moves over the course of the last several months here coinbase global on the trading side crypto currency

another issue, ann, raising prices from toilet paper and hormel with food is that something pernod is planning on doing? >> it is not just the demand, but input costs are going up not just in raw materials, but distribution costs and supply chain costs. there is inflationary pressure you are seeing pricing across the board. it is needed consumers are willing to pay that premium and doing it the smart way is what we're looking at here. i will tell you it is modernizing the industry we are getting data savvy and better understanding at what price points people are willing to pay for what occasions. it is going to take that -- i saw a lot of that in fncg. it is not coming to the alcohol industry. >> seltzer white claw whatever it may be what is the most destructive trend and how is pernod trying to capitalize on that? >> there is a lot of beverage consumption moving away from beer it is moving to seltzer. it is moving to spirits and champagne. champagne is through the roof. we are gaining drinking occasions from beer. it is helping seltzer and spirits. >> when you look at the competitive

hormel getting spammed into the close today. you like my joke?nt slumping to the bottom of the s&p after warning that hire costs would cut into its full-year results. the spam and skippy parent hoping that price hikes on its products are are going to help cushion the blows of those rising costs. this is the inflation story, folks, we talk about it all the time. hour tell is down about 4.75%. and finally, for all you animal lovers, chewy shares in the doghouse right now. so stock is down almost 9%. pet products retailer sinking after missing estimates for both second quarter profits and revenue as well as third quarter or forecast. and and as you can see, there is the stock under pressure right now. >>> all right. gas stations on the oil-rich gulf coast falling short due to hurricane ida. we're going to go to new orleans for a live report of the recovery effort there. still underway. people still trying to find dry ground and get the power back on. grady trimble to's going to be joining us in a few moments. taking a look at your markets, because w

right now, they may not all be positive but check out kroger, tyson foods, clorox, jm smucker and hormely're either up or marge neal to the downside today. what do they have in common? all consumer staples companies they were pretty much given away over the course of the last year here as people refocused on the reopening trade post-pandemic. however, in an ideal situation for these stocks you have a mini rotation out of some tech names like we have shown you into some of these we will see if it sticks, kelly. still, food processors really in vogue, at least for today. we'll see if it sticks back to you. >> thank you very much, dom chu. >>> let's get a check on treasury yields, trading near three-month highs and rick santelli here to dig into it for us rick >> yes, kelly. if you look at a one-week chart and, of course, these take into account the fed meeting last tuesday and wednesday, here's 10s and 30s. you can see they've been zooming higher even to on 10s we are towards the low end of yield, the high part of prices for today still higher in yield than yesterday, and the 30-year bond

rest in power ambassador james hormel, may your memory be a blessing. the rest i submit. >> clerk: supervisor. >> i want to thank you for your powerful words about the women and girls right to choose and self-determination over their bodies. and it's a highlight from today's meeting that i'll be talking to my teenaged daughter about this evening when i get home. so thank you. i have two items today, colleagues. first, i'm introducing a resolution calling on the department of public health to set clear standards for how health care facilities will and should support their workers in meeting the california department of public health vaccine mandate deadline of september 30th. and also calling on health care employers to follow these standards and support their workers. this vaccine mandate is essential. it's vital for all health care workers to get vaccinated to protect themselves and the public. but the standards have varied widely in how different providers are approaching this requirement. with some offering meaningful support and accommodation and pr

rest in power ambassador james hormel, may your memory be a blessing. the rest i submit. >> clerk: supervisor. >> i want to thank you for your powerful words about the women and girls right to choose and self-determination over their bodies. and it's a highlight from today's meeting that i'll be talking to my teenaged daughter about this evening when i get home. so thank you. i have two items today, colleagues. first, i'm introducing a resolution calling on the department of public health to set clear standards for how health care facilities will and should support their workers in meeting the california department of public health vaccine mandate deadline of september 30th. and also calling on health care employers to follow these standards and support their workers. this vaccine mandate is essential. it's vital for all health care workers to get vaccinated to protect themselves and the public. but the standards have varied widely in how different providers are approaching this requirement. with some offering meaningful support and accommodation and pr