that was cnbc kate rogers reporting the news. next, the latest on carlos santana health. the guitar legend is recovering, it is going to be a while before he takes the stage again. at hi, i'm steve and i live in austin, texas. i work as a personal assistant to the owner of a large manufacturing firm. i've got anywhere from 10 to 50 projects going at any given time. i absolutely have to be sharp. let me tell ya, i was struggling with my memory. it was going downhill. my friend recommended that i try prevagen and over time, it made a very significant difference in my memory and in my cognitive ability. i started to feel a much better sense of well-being. prevagen. healthier brain. better life. we call it oleyumi. you call it california. our land, our culture, our people once expansive, now whittled down to a small community. only one proposition supports california tribes like ours. while providing hundreds of millions in yearly funding to finally address homelessness in california. vote yes on 27. tax online sports betting and protect tribal sovereignty and help california

that is kate rogers with the restaurant beat.k people won't spend due to the recession being on the way? >> if the recession is on the way, you will continue to purchase meals for the family of mcdonald's. >> i think they will be safe. the biggest had scratcher for me was the performance on a yum china. they had the zero covid-19 policy, but you are allowed to go out to a yum facility. i don't understand that one. that has outperformed the entire space two is in there. why make it more difficult? the people of higher food cost, stick to where you can get the most bang for your buck. >> i love a good burrito blowout . where almost 2 hours into the show, for me to say that is problematic. i was at this, [ indiscernible ] has 32% eps growth. i think this makes it a reasonable stock in this environment. >> starbucks? soon i can tell you what, i am neutral on starbucks. i am disappointed on the margin profile. i think their cells are under pressure, given what they've done to pricing. i don't think that the kind of pricing power that

kate rogers is here now with that story >> hey, kelly, all three of these leaders taking over duringndustry, still working through the pandemic but now also staring down inflation and a recession here at starbucks, howard shulsz returned to a different company. the two challenges are a potential consumer pullback. it's one that schultz warned about. and the ongoing union fight it staers down, more than 180 stores have voted yes on organizing across the country. last quarter u.s. demand did help to offset a pullback the company saw in china, which is also an ongoing concern. at domino's there's strong demand in the u.s., but russell weiner is taking over for rich alison who's noelted that a driver shortage was limiting the company's ability to meet some demand domino's is leaning into carryout in the meantime on the inflation front t has implemented modest price hikes but so far wing stop seems to be the only company we've heard from talking about meaningful deflation in wing prices he told cnbc the company hasn't begun discounting yet, but it does have some leverage to pull with pric

shares of starbucks are down 10% with howard schulze back to turn things around and kate rogers has morehe company's next chapter he has been meeting with companies and suppliers and said in the record, it's clear we're living in a changing world where societal pressures are colliding. starbucks business as it is built today is not set up to satisfy the evolving behaviors and needs of our partners or customers. to modernize the starbucks experience schulze tells partners he's introducing a new set of principles to guide the process. they are safety, welcoming and kindness in stores advancement and opportunity for partners, well-being for one another and communities, shared power and shared accountability and shared success the programs will be reveal in the weeks to come. new programs under schultz like wage hikes and additional training did not immediately extend to the unionized stores and those benefits needed to be added into contracts with the stores since they organized. this comes after a weekend of workers on strike in buffalo and seeking injunkctive relief for fired workers. >>

we go check out shares of chipotle higher today after the company closed a restaurant in maine kate rogersld be controversial. kate >> kelly, chipotle closing down a location in august, maine, and the move is getting some attention as that store had file a petition to unionize the company says the store's being closed as it has been plagued with excessive call-outs, staffing shortages, and it had been closed to the public since june 17th and chipotle said it was open for training in order to keep paying employees. closing the chipotle restaurant in augusta, maine, has nothing to do with union activity. our operational management reviewed this situation as it would any other. chipotle respects our employees' rights to organize under the national labor act the union says this is retaliatory claiming they took this action against them for seeking to organize. the workers there held a rally last night and i spoke to brandy mcniece who told me the top three concerns were crew safety, and short staffing by shutting down the store all they're doing is fueling us. they say they're filing an unfair

component down 6% this year as they navigate the labor issues all the franchisees unhappy last week kate rogers the story. not a lot of positive headlines from mcdonald's, kate. >> we'll see what happens tomorrow morning but so fair they're expecting $2.40 of revenue on same-store sales. 2.8% in the u.s. the u.s. number is always key. we're watching to see how consumers are reacting to gas prices and inflation in general. and if they pulled back at all last quarter mcdonald's executives did mention some customers looking to lower price point items. but they said they were still ordering delivery which is much more expensive than going through the drive through and store. grocery inflation, remember, continues to outpace restaurant inflation which is beneficial to companies like mcdonald's in a recession. fx headwinds already in focus. the company warned there will be a drag of about 8 to 10 cents on eps. they're projecting that could be higher the russian business has been sold off so update on that will be key as well and as you mentioned finally, any mention of franchisee tensions over change

shep. >> kate rogers live in san francisco. >>> hey if you're a baseball purist and you're walking around the house, sit down. robot umpires will be calling balls and strikes in the big leagues in two years commissioner rob manfred dropped the bomb on espn not sure how they will use them yet. either they'll use them with replay or a computer talking to a human. that's not decided but they look like this. they're already being tested in aaa ball the reason for the change, to speed up the game. the commissioner told espn the robots are a lot faster than humans mlb data shows the robot umpires cut nine minutes off the length of an average game this season maybe order will be restored to aaron judge's strike zone. >>> after a hockey team wins the stanley cup, each player gets to spend one day with the trophy. tradition goes back decades. some players show off the cup at their favorite restaurant. others take it to a casual fishing trip or carry it up a mountain and almost every year, it's used as a giant chalice for champagne and beer members of the colorado avalanche are now getting their ch

>> thank you but that is kate rogers joining us tonight. it was known as america's stonehenge. mysterious and popular roadside attraction in georgia officially called the guide stones. this week, an unknown person bombed the giant granite monument. investigators are still searching for the suspect while online conspiracy theories about what happened grow by the day. >> reporter: for decades, massive granite slabs towered over a georgia field. part astrological calendar, part of the instruction guide. today, the monument is a pile of rubble. georgia investigators releasing video of someone blowing up one of the massive 42,000 pound granite stones, and online internet sleuths digging into the bizarre history of america's stonehenge. >> reporter: the guide stones were commissioned by a stranger, in the late 70s with what appeared to be cryptic messages for society after a couple apocalyptic event, calling for things like keeping the population under 500 million, uniting humanity under a new language, and guiding reproduction through fitness and diversity. around the small town of

that's forcing some companies and local governments to get creative and boost pay kate rogers on the challenges they face. >> in kentucky, we're operating 12 to 20% short of nursing volume >> six months after kentucky governor andy beshear declared a state of emergency over the state's shortage of nurses, hospitals in kentucky are looking to fill the gap. hospital system norton health care upped its tuition assistance to $40,000 from $24,000. students must have a desire to work in the field and make a five-year commitment to the hospital nick hayes is one of though students >> there's a big nursing shortage and health care in general across the country is really stretched, especially coming off the pandemic. of course, that's daunting, but the bigger thing is you're a part of the future of that >> norton is continuously hiring to staff six hospitals across indiana and kentucky it says the increase in tuition assistance has been a draw >> we wanted to remove those barriers and really make that health care career accessible to everyone in the community who wants to pursue it >> cities

kate rogers covers the restaurant business for us kate, what are both sides saying now?ays the store is being closed as it had been plagued with excessive callouts, staffing challenges and lack of availability from its existing staff. it's been closed to the public since june 17th but chipotle said it was kept open for training in order to keep paying employees. closing the chipotle restaurant in augusta maine has nothing to do with union activity our operational management reviewed this situation as it would any other restaurant with these unique staffing challenges chipotle respects our employees' rights to organize urngds the national labor relations act they will receive severance pay and assistance find new jobs but the union claimed this is retaliatory action for seeking to organize. the workers held a rally on tuesday night. i spoke to organizer brandy mcneis who had food safety, and short staffing -- >> they quit the game, filmed the checker board. took their bat and their ball and went home. we are still fighting. so for them to step out like that is not -- no,

kate rogers joins us on chipotle straight to the jump for stocks. major averages moving sharply higher it's broad it happened during fed chair jay powell's news conference about half an hour ago or so the nasdaq is the biggest winner up 4%. every sector in the s&p right now is higher led by communications services and consumer discretionary group, utilities. up a third of a percent. lindsay, did the fed chair and earnings, is everything going on this week changed anything for you in that this rally which we've seen a nice move in july could be sustainable >> i think as far as the market goes, we're probably going to trade a little bit sideways going forward. of course the news we're getting this week is good news but yesterday was a different story. so i think what the fed is saying especially in powell's conference he sounded more dovish than the actual release sounded. that was good. we could be coming closer to the end of the fed rate hike tightening than we are closer to the beginning, too until investors see that as a positive although they are

new survey out from a franchisee group said a majority supported calling for a no-confidence vote kate rogerson why they're so frustrated. kate. >> the national owners association, which is a large independent mcdonald's franchisee advocacy group recently polled it's nearly 1,000 members and about 700 responded. an overwhelming 87% support calling a vote of no confidence on the ceo and the u.s. president. it is worth noting mcdonald's has reported it has 2400 franchise owners in total. the poll comes on the heels of changes being made to the franchise system that include evaluating new operators equally instead of giving preferential treatment to spouses and current owners and separating its lease renewal process from assessments of whether owners can operate additional restaurants owners are frustrated about the changes. the survey found nearly 100% feel the company should have consulted owner leaders before announcing changes 95% feel senior management does not have the best interests of its owners in mind 83% believe this is a veiled attempt to raise rents this also comes as mcdonald's loo

steve covac has the latest on all things apple and following the fight at amazon and kate rogers is lookingts percolating at starbucks >> let me give you a run down where we're at with apple. a few weeks agethe first apple store to unionize was in maryland they kind of gave this standard antiunion messaging, such as we might not be able to give you vacation time or as flexible with hours as we could bewithout a union. at the same time, apple is not appealing. they're going to work directly with the union in maryland to negotiate a contract this is a sign of how it will handle future unionization efforts. apple got ahead of this by raising pay before it was 20 bucks an hour. and some of the unions in new york and other big cities are asking as much as $30 to start because of the cost of living. what we hear from other organizersb maybe it's angst and anger. when i speak to the apple employee organizing, they love apple. one woman told me, who's organizing an atlanta store, she's like i love engaging with my community it's not necessarily they're angry at apple they just want a seat at the ta

first republic is off the highs, but another bank name that is positive today let's get out to kate rogers for the cnbc news update kate >> here's what's happening at this hour. as the buffalo supermarket where ten black people were killed in a mass shooting two months ago prepares to re-open tomorrow a federal grand jury has just filed federal hate crime charges against the white man accused of that massacre. immigration and customs enforcement agents are now being told to take additional steps to ensure they are not unintentionally separating parents from their children at the southern border. the new procedures are the latest in a series of steps the biden administration has taken. >>> the u.s. and israel signed a new security pact today reinforcing the common front against iran president biden pledging to use all american power to stop the islamic republic from acquiring nuclear weapons. thousands more doses of monkeypox vaccine are set to be shipping to the u.s. after federal health officials completed an inspection of the denmark plant where they are being manufactured kelly and cour

let's bring in kate rogers were that story kate >> onlifts are looking for eps of 9.04 on ref niece ofor chipotle in the send the quarter. same tar store sales projected to increase which 10.9%, a very big jump for the space chipotle has been a name that's touted its pricing power in the past, so we'll be looking to hear fritz executives on continued price hikes and how much room they believe is left to run for the consumer. analysts remember have favored chipotle as it caters to a higher income demographic that may be a less sensitive to future price increased and they have been absorbing them so far. inflation key as higher prices for beef, paper, avocados did weigh on the company's mar egyptian and icommentary on the uniization efforts will be of note though reported last week two stores so far have filed petitions but smaller than starbucks but it will be worth noting as well. >> victoria, drum roll, please which way are you going to break on chipotle? >> i'm buying the dip. i'm a buyer of chipotle and that's a joke on the promo they are doing with crypt cupsies and bight dip. i re

kate rogers. that does it for "the exchange." w "power lunch" begins right now >>> good afternoon, everyone welcome to "power lunch. i'm tyler math son kelly will be right along. markets are adding to gains on optimism over earnings and now tesla takes the wheel. elon musk's company reports results after the bell closely watched, of course will this be the catalyst to keep the stock's momentum going. plus rising mortgage rates and persistently high prices, and a key indicator of demand falls to a new 22-year low. we'll look at the impact on the economy and more kelly? >> tyler, thank you. >> hi, everybody let's get a check on these markets. as you see some followthrough and mostly in the nasdaq up 1%, a 4% gain over the past two days the s&p is only up four points and the dow is down 120. what's driving tech higher mostly software and chips. salesforce, nvidia amd up another 3.5% the communications services sector of the s&p also doing well today with some big recognizable names leading the way like disney up 3%. not enough to he

kate rogers reporting from the west coast. >>> general motors trading lower after they missed the estimate, but automakers say that demand remains strong. phil lebeau picks it up from there. hi, phil. >> reporter: hi, tyler. one indication of demand is that revenue came in much stronger than expected, and the reason why? check out the transaction prices. a near record high. the average for the second quarter for the average vehicle sold by general motors, $50,499. again, that is close to a record high. they are still seeing more demand than there is supply. here is cfo paul jacobson talking with us this morning on squawkbox about what he has seen. >> we have seen demand as we go through covid and the chip issue. >> reporter: general motors has announced that it has secured the ev raw components and materials needed that it needs to meet the ev target by 2025. they are going to be wrapping up dramatically over the next couple years, targeting to sell 1 million ev's in north america alone in 2025. guys? >> phil, i can tell you that when i drive by a large chevy dealer to and from work, there

shares of beyond meat basically flat today, but take a look at this one-week gain, up almost 25% kate rogersmes. >> oatly is up 18%, beyond up 30%. this comes after a brutal six months for boast names down over 50%. while there's not one catcataly, a few factors could be at play there is the possibility for investors doing some bargain hunting and also with grocery inflation continuing to climb, consumers may bristle less at these prices as they tending to be a bit higher than traditional meat and dairy an analyst notes that pessimism on the stock has likely bottomed appear the second half will be all about distribution and meeting targets after covid delays execution will be key for the stock to make a real comeback and the cash burn needs to slow. at beyond meat investors will wanting to see these big partnerships pay off and a lot will ride on mcdonald's. last month they said franchisee checks on the mcplant were disappointing and a launch is likely not coming in the second half recovering volume growth will be key for beyond in the second half of the year remember, it faces so much compe

. >>> inflation is also finding its way into main street businesses as optimism there slides kate rogers has that part of the story for us. >> overall optimism slid again in june by 3.6 points to its lowest level in nearly a decade of 89.5 per the nfib every month of the year so far this index has declined in every measure in the index fell this month. the key challenge here, no surprise, it's inflation with more than a third of owners reporting it was their single most important problem in operations this is up six points from may, also at its highest level since 2 q 4 of 1980. labor and taxes have held the top spot on and off for years. the survey finds that owners expecting better business conditions in the next six months is at its lowest level ever a net negative 61%. expectations for better business conditions have also fallen every month in 2022. the group's chief economist writing declines in the net percent expecting better business conditions have always preceded down turns in economic activity, at a net negative 61% the lowest in 48 years, it is tr strongly indicating bad time

kate rogers. let's turn from restaurants to travel now we're back with a look at that sector >> kelly, the stronger dollar is a boom for americans traveling overseas we have already seen a 27% jump in summer bookings from the u.s. to europe. that's according to hopper ubs analyst says that benefits the big hotel operators like marriott and hilton on average they see cross border travel accounting for 20% of room nights the stronger dollar hits two ways kit also discourage foreigners from traveling to the u.s. and while that departure testing requirement is lifted, international arrivals are down 41% this year compared to 2019 levels the dollar is one of the reasons truest analysts are lowering their estimates for booking holdings, expedia and air b & b. the sales are converted from euros back in dollars which then brings down the total amount however, the key here is if they can make up the difference in volume, then that could come out ahead. that's why we're watching the bookings numbers interna

. >> kate rogers with all the latest news. and we will be sticking with other names that have had a rough year next hour the trade in cars, chips and copper coming up on "power lunch," which begins right now >> all right, thanks very much, kelly. we'll see you in a couple of seconds here welcome to "power lunch," i'm dominic chu in for tyler m mathisen this afternoon. investors gripped by recession fears at this hour, so how to invest as growth slows possibly and uncertainty ramps up a look at what's next for two battleground stops we're talking tesla and amazon and transportation secretary pete buttigieg is here to discuss fixes for the overall airline industry following a holiday weekend that saw thousands of delays and cancellations. but first a check on the markets, kelly, which are off their lows of the session. >> they are, dom, and a break on the jet fuel front at least for the airlines let's run through everything else that's happening. we're about 300 points off the lows the nasdaq was down 216. it's currently up 55 i

kate rogers joins us now with more hi, kate >> hey, good "morning joe. $2.55 adjusted there is a fivee of its russia business. same-store sales performance up 9.7% overall climbing 3.7% here in the u.s. over estimates of 2.8% the company saying this was due to price hikes and its value offerings across its menu and also digital the company adding that the quarter was driven by franchise-operated margins accounting for about 95% of operations in the u.s. its company-operated margins were negatively affected by the closure of business in russia and ukraine. things are very challenging and-thonand nonetheless it remains challenging. i'm confident that our plans and people position mcdonald's to weather this environment better than others. remember, grocery nainflation is going up more than restaurants and the stocks compared to others in this space obviously reflect that >> it's interesting globally, kate, because they break it down across all geographies u.s. looked pretty good. i wonder what finally happens in europe and germany and then you've got the whole pr putin problem in russia.

kate? >> jessica, thank you for that. >>> joining me for more is cnn legal analyst jennifer rogers. think of this effort jessica laid out in more detail and the fact the person didn't pick up the phone, didn't pick up the call, what does that do? >> it means, kate, it's unlikely to support an actual separate charge for witness tampering unless there was a detailed voice mail left. just the outreach itself won't support a separate criminal charge, but it does two things for the committee. it's a shot across the bow. liz cheney is saying stop messing with our witnesses, and i think that message is likely coming across. and, number two, it provides real, what prosecutors call, consciousness of guilt evidence am if you don't think you're doing anything wrong you don't try to reach out to witnesses who are talking about what you did. all of this evidence they're putting in about people speaking to hutchinson telling her to stay loyal, stay on the tream, even to a low level staffer from trump itself suggests they know something they did was bad. >> the next hearing is going to focus on th