the lucid technology is available right now.s to martin has the goal have its first factory electric model on the road by 2025. they are going with lucid because they can get their hands on it. mercedes is not yet available. the consolidation question is interesting. the other question that i would pose to you, given the public investment fund relationship is that we know lucid is going to build a factory in saudi arabia. do we see smr and manufacture vehicles they are the future? that is a question unanswered. jon: unlikely. it is unlikely, right? ed: right. jon: now, even though the dots connect on these two having some kind of arrangement, the fact that you have an announcement like this after we already saw legacy players like ford and gm teaming up with tesla, for example, on the charging network , is the door now open for older or newer players to team up or find some common ground? ed: it's interesting because the ceo of lucid has been talking about the potential to sell the powertrain as a product. the thing is that luci

if they start to work that out -- the thing about lucid, the story for years about lucid was its technologyas basically higher energy density in its battery packs, higher even than tesla. if you take the lucid air at the midpoint, it has a 100 kilowatt per hour battery pack. tesla is in the low 70's 70's to high 70's for the model y. loose its promise of having world beating technology only comes with scale, and they have not been able to achieve scale. they have had a lot of problems. i know the root of your question. it is whether you believe the components for electric vehicles themselves become commoditized. very high energy density, if they can manufacture them at scale, it is a plug-and-play, pardon the pun, for people that once made battery electric cars that don't currently. guy: and how fast and what kind of performance do you get out of them? is there a high-performance one? i am wondering how the evolution of this will work because electric motors sped up quickly and have high torque. how do you make it faster is the key question. ed: having that battery pack certainly helps with

>> nvidia is no longer with us >> no, lucid passed -- lucid is here none of them are lucid they diday after a long run. >> guys, nordstrom is up it's one retailer we haven't mentioned this morning >> rack was good >> it's a small company, again, like macy's. $2.6 billion market value. >> why don't we just mention the fab five every day >> well, i mean, there is a reason we mention the fab five, because, yeah. >> i was just going to mention -- >> they add up to, i don't know, $10 trillion >> i know, i mean, and netflix called time-out, but no one saw it >> i was going to mention vsco as well, also small market cap, but jim, that chart is a mess. down another 10% today >> they missed really badly. that was terrible. that was a terrible miss maybe one of the worst of the whole quarter. by the way, capri was -- they have not been an exceptional performer either, david. that's aspirational. that's what ryan reynolds said now, ryan reynolds, if you look at his background, he's right more than anybody else in the world, he's einstein >> ryan reynolds is like einstein >> yeah. >> thank you

lucid cannot get its own house in order from a production perspective. guess for lucid, what do they get out of it? they become a supplier of parts. sean: this is a return to form of them. something like 15 years ago, founded as a battery manufacturer with the goal of becoming a supplier. it took them a long time before they decided to go out and try to make their own car and come up with the brand, that has flipped things around and eaten the original goal in some respects. now, they are back in that role. it is something they talked about, they were trying to raise money when they were still private. they almost partnered with ford at one point, so this is a long time coming. ed: president biden speaking at the white house on the topic of russia, listen in. >> convened are key allies on a zoom call to make sure we are all on the same page. it is critical that we are in a coordinate response and what to anticipate. they agreed with me we had to make sure we gave putin no excuse to blame this on the west or nato. we made it clear we were not involved, we

they're going to pay lucid a $232 million technology as as access fee, in return, lucid's going to provideaccess to the its power train and battery system technologies. lucid bat erie components are going to be integrated with aston martin's electric vehicle chassis. >>> carnival corp. sinking at this hour, pun was intended, everybody, i'm sorry. they reported a revenue beat and a smaller than expected loss. what happened here? we're going to talk to the ceo, josh weinstein. he's joining me next. closing bell's going to the to ring in exactly 30 minutes from now. ♪ ♪ ♪ ♪ the biggest ideas inspire new ones. 30 years ago, state street created an etf that inspired the world to invest differently. it still does. what can you do with spy? ♪ ♪ moving forward with node- positive breast cancer is overwhelming. but i never just found my way; i made it. and did all i could to prevent recurrence. verzenio reduces the risk of recurrence of hr-positive, her2-negative, node-positive, early breast cancer with a high chance of returning, as determined by your doctor when added to hormone therapy. hormone

introducing the lucid air.xperience the best. ♪ what if buildings could tell you how they could be more efficient? i'm listening. well, with ibm, you can use software to help you connect and analyze data— from hvacs to elevators to lights. what if we use ai-driven insights to pinpoint inefficiency? yep. and act on it. saving energy, money... ... and emissions. yup. that's a big one. now you've built something better for everyone. that's the sustainability solution ibm and a global real estate company created. what will you create? ibm. let's create. >>> welcome back to "power lunch. let's get a check on the bond market bond yields falling today sitting at about 3.74. not just lower today, but down on the week despite hawkish comments from fed chair jay powell to congress others said there was less urgency to move on rates you saw some hawkish moves and commentary from other banks around the world. >>> oil, also lower once again closing out a down week. pippa stevens joins us with move. >> reporter: the weakness

. >>> and lucid with a lifeline to keep the ev dreams alive. >>> and the wrap up of the week long trip in china what elon musk did not do. >>> it is june 1st, 2023 you are watching "worldwide exchange" here on cnbc >>> good morning welcome to "worldwide exchange." i'm frank holland. let's kick off the check of the u.s. stock futures solidly in the green this is a turn from earlier are wh -- earlier where they were flat the nasdaq is moving to the upside after a mixed month for the averages that saw the s&p and nasdaq extend the win streaks to three months. the dow on the chart here well behind more on the nasdaq performance in a moment. check of the bond market the 10-year treasury yield has declined from the month high just on may 29th just this week we were at 3.81 elevated yields on the 2-year treasury now turning to energy and oil. oil with the worst session since march and since november of 2021 more of the same from yesterday. wti crude is below $$70 a barrel we will talk more about that later on in the show brent crude is up .30% natural gas is flat. looking at crypto this morni

mike >> yeah, lucid was one of the his best ebusiest single stock today.more than three times its average daily call volume and the busiest contract 50,000 of those trade for a quarter of a contract. buyers are obviously betting that the slight bump we saw today could actually accelerate by the end of the week but i would also point out, this is a stock with a fairly financial short interest and it's seen a big decline, so, some of this could just be expecting some kind of a rebound. >> guy, what did you make of this move? >> should have been a bigger move we're talking about a stock that recently made a multiyear low at $5.45 or something the bounce was somewhat anemic people are going to be playing for a huge percentage bounce i love that great friday night show at 5:30, what do they call it >> "options action." >> tune in only been on for more than a decade well more than a decade at this point. mike, thank you. mike khouw for more options action, be sure to tune into the full show, that's friday, 5:30 p.m. eastern time. >>> coming up, talk about being

introducing the lucid air. experience the best. ♪ >>> welcome back to half-time. to kristina who has an alert for us >> this has to do with binance there's 13 charges against them, and i will get to that in a second binance said the sec's actions undermine america's rule for a global hub, and they did say that because binance is not a u.s. exchange, the sec's actions are limited in reach they are arguing they tried to communicate with the sec, and the sec didn't want to sit down and negotiate and did not provide clarity on rules about which crypto assets should be treated like securities and which should not, and that's a lot of the problem of the crypto based products they say their products are safe and secure and will continue to work with the sec, but they claim the sec's real intent here is to make headlines it's a pretty scathing blog post just to recap, the seg filed a lawsuit against binance, and they are claiming they did not register as a u.s. clearinghouse, and it's not providing -- or is misleading the investors. you are seeing coin base down 9% bitcoi

this is the all new, all electric lucid air. a car that goes as far as it does fast.as it is... spacious. as smart... as it is beautiful. introducing the lucid air. experience the best. ♪ >>> welcome back to "the exchange." let's take a look at some potential bargain opportunities in the market, specifically those with a super low pe ratio. last year, we saw home builders in that position with low multiples before rebounds. fast forward today, and dr horton and others are up solidly, 50%, 60% over the past 1 months now retail is in a similar position take a look at these super low pes and retail names like macy's, best buy, and others despite the opportunity for a bargain, the next guest is warning investors to stay away from the trade and he likes the home builders chris, great to see you again. welcome. >> hey, thanks, kelly. i'm here live from new york with the smoke. >> it's wild it's like an orange, red glow. great comparison i liked the home builders a year ago, and also as you know, these retailers have wrong bottom pes. but there is a bunch of reasons why you

lucid is luxury ev, they start at $87000.st trimmed production forecast so the news is not good and everyone competes with tesla but tesla is competing on price and lucid is not doesn't look like customers or investors are buying it right now. >> very competitive and expensive for the consumer. let's talk airlines. american airlines still finding to have a partnership with jetblue. >> the northeast alliance in case you're flying new york to boston, they share the slots for different airports so the judge came in and said this is bad for competition, you need to unwind it and do so in 30 days. the timing couldn't be worse, think of all the people flying the summer so american is saying they will appeal that. american right now is down a quarter of 1%, no big deal. >> no big whoop as they say. let's take a look at the big board if we can, we know the dow is -- there you go, picking up a little steam, 156 points. down about half a% but where are some of the winners? lisa, j.p. morgan chase mentioned earlier caterpillar up three

introducing the lucid air. experience the best. ♪ ah, these bills are crazy. she has no idea she's sitting on a goldmine. well she doesn't know that if she owns a life insurance policy of $100,000 or more she can sell all or part of it to coventry for cash. even a term policy. even a term policy? even a term policy! find out if you're sitting on a goldmine. call coventry direct today at the number on your screen, or visit coventrydirect.com. ♪ ♪ every day, businesses everywhere are asking. is it possible? with comcast business...it is. is it possible to use predictive monitoring to address operations issues? we can help with that. can we provide health care virtually anywhere? we can help with that, too. is it possible to survey foot traffic across all of our locations? yeah! absolutely. with global secure networking from comcast business. it's not just possible. it's happening. as a business owner, your bottom line is always top of mind. so start saving by switching to the mobile service designed for small bus

introducing the lucid air.xperience the best. ♪ ♪♪ at morgan stanley, old school hard work meets bold new thinking. ♪♪ at 87 years old, we still see the world with the wonder of new eyes, helping you discover untapped possibilities and relentlessly working with you to make them real. old school grit. new world ideas. morgan stanley. >>> what do we do with the package food stocks now that wall street seems a lot less enamored of the group because of a possible recession time to give up on the whole group? i don't know it comes to individual performance. that's what i think. that brings me to campbell's soup you also know pepperidge farm, lance, pacific, one of my favorites, prego, many other brands the stock had an excellent run last year, it's long been a favorite but stuck in the low 50s practically all year this morning we find out why it's been stuck. campbell's soup reported in-line sales, so far so good, but the stock got collabered because management didn't officially raise the forecast, only saying they

and lucid is set to enter the china market it will begin by selling imported cars.rs reports production within china shares up 2%. >>> turning to apple after it revealed the $3,500 vision pro this week. reception for the product has been mixed, but what turns the tide is for consumers. you can run p inside the headse but they hope to go beyond 2d and create 3d apps apple giving software makers the hardware we have a developer working in a.r. with us wim reygaert wim, it is great to have you here >> thank you for having me >> wim, let's get to it. give us the elevator pitch for the app. who is your target consumer? >> we virtualized the painting and our target market is pretty much everybody >> all right w wim, i want to talk about the hardware we saw the meta oculus headset a lot of people were not eager to get on board with it. do you see a bigger opportunity with this one? you want to get as many people on there as possible i'm looking at the cnbc review there is a social aspect you can hang your painting and your friends can come by to loo at it. >> we have a com

only from xfinity. >>> good morning in ev land, lucid shares getting a boost from saudi arabia.time, lordstown motors filing for bankruptcy. >>> new developments in weight loss treatments. recap on the clinical trial with the drugs from injectable or pill form. >>> new york city moving ahead with congestion tolls for heavy traffic areas despite the last minute effort by new jersey officials. new jersey officials are trying to stop it it is tuesday, june 27th all right? it's 2023. it is almost july. "squawk box" begins right now. >>> good morning welcome to "squawk box" here on cnbc we are live from the nasdaq market site in times square. i'm becky quick with joe kernen. andrew will join us live from the aspen ideas festival later in the show in a couple of hours because it is really early there. we have been watching what is happening with the u.s. equities you are going to see modest advances check it out green arrows slightly. dow futures up 17. the do

introducing the lucid air.nce the best. ♪ >>> we've got some news here on changes to the s&p 500 palo alto networks is going to replace the dish network palo alto going in, dish coming out. the shares are on the move in the after hours. palo alto up 4%, dish down just about 4% let's move on. up here today very weak week for dollar general the stock dropping 20% in the last four days most of it coming yesterday. it was dg's second worst week on record guy, i thought this was supposed to perform in bad times fwhere the consumer, particularly low income, is under pressure. >> i'm sure they thought that as well that's what i thought. this stock in october was making all-time highs lots has changed look at their inventory build, 21% off of 8% growth listen to their commentary they've made some disastrous comments about the consumer going forward and what they thought the outlook was. you can't -- listen, ai is not going to solve all the world's woes when you listen to dollar gen, overlay that with walmart, target re

lucid and aston martin announced a parartnership..partt o of the financial dea aston martin -- both companies saw stock prices rise after announcing this deal. >>> a new offering from facebook and instagram's parent company, meta, is launching a virtual reality subscription service. it's called meta quest plus. it's available now. 8 bucks a month. it works with the company's quest pro, quest 2, and upcoming quest 3 headsets. if you sign up, you'll get access to two preselected games every month. you can also play them as long as you want, as long as you subscribe to the service. meta says the service will be a great way for players to explore vr games, and grow their library. >>> up next, more issues involving self-driving cars, specifically those robo taxis, what happened recently in san francisco that has a lot of people calling for them to be pulled off the streets. >>> and we've had mild temperatures, breezy winds, i hope you've been enjoying these below seasonal temps because that's about to change. that's about to change. we've

introducing the lucid air. experience the best. ♪ ah, these bills are crazy. sitting on a goldmine. well she doesn't know that if she owns a life insurance policy of $100,000 or more she can sell all or part of it to coventry for cash. even a term policy. even a term policy? even a term policy! find out if you're sitting on a goldmine. call coventry direct today at the number on your screen, or visit coventrydirect.com. i promise - as an independent advisor - to put the financial well-being of you and your family first. i promise to serve, not sell. i promise our relationship will be one of partnership and trust. i am a fiduciary, not just some of the time, but all of the time. charles schwab is proud to support the independent financial advisors who are passionately dedicated to helping people achieve their financial goals. visit findyourindependentadvisor.com the first time your sales reached 100k with godaddy was also the first time your profits left you speechless. at the counter or on the go, save 20% with the lowest transaction fees and keep more of what

lucid may as well as european ifs snap up evs. the company that builds out the necessary charging stations now in 27 countries enjoying huge demand. the new ceo, brendan jones, joins me next on how his company's juicing the ev charging revolution. closing bell, 49 minutes away. we've got the dow up 177. the s&p is now up 26 points, it just these a gain of 25 to exit the bear market. this could be the session, folks, you never though. stay with us. "the claman countdown" is coming right back. ♪ ♪ ♪ ♪ ♪ gold is an investment that delivers returns and protects wealth. with millions of ounces discovered and growing, your investment possibilities with nighthawk are endless. think beyond. - representative! - sorry, i didn't get that. - oh buddy! you need a hug. you also need consumer cellular. get the exact same coverage as the nation's leading carriers and 100% us based customer support. starting at $20. consumer cellular. - i take caring for my kitty very seriously. when i found a health monitoring kitty litter, i had to meet the crea

introducing the lucid air.rom the consumer. last week we had a parade of data about how the consumer is doing, and i would say not so hot. i think we're back to the world where we have two kinds of people the ones who saved money and more on the defensive. try to make ends meet. now all the government assistance is going away we have a real trouble in retail macy's just reported a strong quarter that got weaker throughout the quarter nordstroms was a weak quarter that got stronger throughout the quarter. dollar general had a horrendous quarter. today we had research from several firms about how the end of the student loan repayment moratorium could impact millions of consumers who seem to shop inordinately at target meanwhile, spending has been robust in charitable trust in costco and walmart but these are places to get cheaper brands and less explosive food, both of which have seen inflation subside. handfuls are doing well but some are struggling if you really want to get a read on the consumer, you need aggr

introducing the lucid air. experience the best. ♪ so who's it gonna be? tom? danny? guess it's on maggie. 's the first time you connected your godaddy website and your store was also the first time you realized... well, we can do anything. cheesecake cookies? the chookie! manage all your sales from one place with a partner that always puts you first. (we did it) start today at godaddy.com ahhh! icy hot pro starts working instantly. with two max-strength pain relievers, so you can rise from pain like a pro. icy hot pro. >>> oshkosh that makes equipment for vehicles and all kinds of other niche vehicles that i like, the gbc arrow take users with support gear and service for commercial airlines and military. i like this deal. the stock had a nice run up late last year. we topped out 106 in early february and mid may. now back to 83. for this aerospace acquisition will it do the trick? they have seen their stock dropped more than 5%. you do not go through that unless it is a beautiful transaction. on the future of the business, welcome back to mad money. >> thank you for

. >> lucid.ompany who's been struggling a little bit but you need about 3 billion to fund this so you can see interesting they are up 3%. they are going to be raising up i believe about $3 billion to fund this expansion. they will need it, you have to be in china if you want to play in this space but they need the money to do it. >> everybody wants to play in a i ring out and adobe is incorporating ai into his services, how? >> not just ai but generative. a big note this morning from a $500 price target on the stock, 20% upside. you can see your gaining 3% or so this morning. otherwise looking at mostly in line results for the quarter from that company but ai -- reminds me of bit coin days, if you add points to the end of your name, your so popular. i think ai is a new bitcoin. >> i appreciate with nvidia but i'm wondering, i'm wondering if you are wondering if this will be a fad like so many other things. >> it could be but there are some real players and stock prices, you've heard it from nvidi

introducing the lucid air.st. ♪ the first time you made a sale online with godaddy was also the first time you heard of a town named dinosaur, colorado. we just got an order from dinosaur, colorado. start an easy to build, powerful website for free with a partner that always puts you first. start for free at godaddy.com >>> let's get to our "call of the day. number one nike. reiterated by goldman sachs, price target cut to 144 from 148. still 30 some odd percent higher than where it is now >> brutal since we put it into the etf. right now adidas, that's the right footwear, apparel, the right trade. foot locker took down nike with its earnings report and the inability to recover nike next thursday they have to tell a very positive story about reducing inventory that's through discounting not good for nike. it's been a muted one surrounding profitability for nike >> uber, reiterated outperform >> if you're studying the technicals this is one of the best looking charts, breaking out, clearly and comes on the back

introducing the lucid air.xperience the best. ♪ bridgett is here. experience the best. she has no clue that i'm here. she has no clue who's in the helmet. are you ready? -i'm ready! alright. xfinity rewards creates experiences big and small, and once-in-a-lifetime. >>> welcome back to "squawk box. in a couple of hours, you're going to get another read on inflation, this time at a producer level this afternoon, the fed on interest rates and the markets anticipating what ee being called a hawkish skip. i don't know if we need to explain it you may understand yeah, we're ready to do it again if we need to. we have our guests joining us now. jake jolly is a strategist and analyst. jake, i want to start with you i was reading your notes, cautiously optimistic. that's an interesting way of saying, wow, i'm uncomfortable with this rally. it's happening and you point out, if you are too cautious, you miss it. and then i don't know how you ever buy in. we asked one of our guests yesterday, when would you ever buy in he'

for once we are talking about lucid motors based in newark. with aston martin to make an electric line of cars in exchange for a stake in the british carmaker made popular in the james bond movies . and on that news, lucid stock up 11.5, ringing the opening bell this morning. genius brands has a new name. it is now trading on the new york stock exchange as cartoon studios. the company is based in beverly hills. it makes socially responsible cartoons for children now heading to the big board. dow jones down just about a quarter of a percent, a little more than 68 points. there you can see the s&p 500 down slightly. actually finishing its worst week since march, down all week. the nasdaq managing a little bit of a gain this morning, up about 17 points to 13,509. google could pull out of hong kong over censorship issues . authorities in hong kong have been trying to get google to ban a pro democracy song that is used in protests. now, hong kong's justice department is also requesting the removal of 32 youtube videos that feature the popular anthe

lucid has a supply deal.auren: lucid up 13% and supply deal with the british car maker and gives them a 3.7% stake in aston martin and makes aston martin more relevant in 2023. a hookup with an ev supplier. stuart: i saw an aston martin parked outside a restaurant the other day and there was a crowd around it looking at it. it's a beautiful car. ashley: fantastic car. lauren: on a match different level, i was near a rivian with my cousin the other day and we got a lot of looks. stuart: you were driving around in a rivian? lauren: no, i was not driving it. i was not driving it but in one. stuart: rave i can't imagine is a good looking car. rivian is a good looking car. lauren: i don't like getting all that attention. stuart: you liked it. u.s. coast guard launched investigation into deadly tourist subimplosion and lead investigator said they may p pursue criminal sanctions. putin issued first statement since this weekend's mutiny and made no mention of the rebellion against him and antony blinken said the crac

introducing the lucid air. experience the best. ♪ this is dr. arnold t.etsworth, he's the owner of petsworth vetworld. business was steady, but then an influx of new four-legged friends changed everything. dr. petsworth welcomed these new patients. the only problem? more appointments meant he needed more space. that's when dr. petsworth turned to his american express business card, which offers flexible spending limits that adapt with his business. he used his card to furnish a new exam room, and everyone was happy. built for dr. petsworth business. built for your business. amex business. >>> welcome back to "the exchange." tesla has been on a hot streak lately one analyst says it's time to hit the brakes dan levy from barclays downgraded people are -- he still raced the price target by 30 bucks dan levy, senior autos annual it's at barclays welcome. >> thanks for having me, kelly >> these are always tricky how do you thread the needle >> yeah, listen. we've been bullish on tellsla. we see them as a long-term winner we've acknowledged there's more to tesl

this is the all new, all electric lucid air. a car that goes as far as it does fast. as sleek as it is... spacious. as smart... as it is beautiful. introducing the lucid air. experience the best. ♪ ♪♪ dads are special. fun. inspiring. always there for you. so make father's day extra special with gifts he'll love from weathertech. floorliners... cargo liner... seat protector... sunshade... ready-to-wash system and cupfone. or our newest product, the golf cart mat. order these american made gifts or a gift card at weathertech.com have a very happy father's day. >>> we're back we have some "calls of the day." retail edition, if you will. estee lauder, steph, upgraded to a buy, what's your take here >> it's been a terrible stock. >> 25% down year to date >> terrible quarter last quarter. they've missed the last three quarters and guided down lot has to do with supply chain issues, china beginning to reopen and travel retail down 43%. >> how much bad news do you feel absorbing? >> i think they will get it right. you have to get this china thing fixed. it's about 30% of tot

remember it was ccib 4, churchill 4 and then bake lucid.dstown, the gm plant didn't work as well as they hoped they had that partnership that has gone bad. >> it's gotten contentious. >> when all of this was happening, the new issues and the new startups in this area, almost everybody harkened back to, well, you know, in the 1920s, there were 100 automakers and they failed and consolidated up into what we had today. it is sort of amazing when you're now looking at tesla and an $800 billion market cap everything else is almost a rounding error around that obviously there's a lot more inside of tesla in terms of hope and expectation, imagination for what it might be. >> you're right. there's baird on why they think tesla is a good pick in terms of gross margins. musk has made the point that there's a period of time where you -- literally an auto plant is like a furnace in terms of burning money. right now we're also looking at rivian which has had a rough -- the question becomes both on the demand side and just how much money you're going to

introducing the lucid air. experience the best. ♪ ♪ ♪ experience the best. everywhere are asking. is it possible? with comcast business...it is. is it possible to use predictive monitoring to address operations issues? we can help with that. can we provide health care virtually anywhere? we can help with that, too. is it possible to survey foot traffic across all of our locations? yeah! absolutely. with global secure networking from comcast business. it's not just possible. it's happening. this is cynthia suarez, cfo of go-go foodco., an online food delivery service. business was steady, until... gogo-foodco. go check it out. whaatt?! overnight, users tripled. which meant hiring 20 new employees — and buying 20 new laptops. so she used her american express business card, which gives her more membership rewards points on her business purchases. somebody ordered some laptops? cynthia suarez. cfo. mvp. built for cynthia's business. built for your business. amex business. >>> dow is up 400 right now. we'll see how it closes out just a couple of hours from now on

this is the all new, all electric lucid air. a car that goes as far as it does fast.is... spacious. as smart... as it is beautiful. introducing the lucid air. experience the best. ♪ with gold bond... you can age on your own terms. retinol overnight means... the smoothing benefits of retinol. are now for your whole body. plus, fast-working crepe corrector diminishes wrinkled skin in just two days. gold bond. champion your skin. >>> welcome back the battle over return to office flaring up on some new fronts this week. martha stewart says america will go down the drain if remote work continues. chipotle calls its corporate employees back four days a week. farmers insurance changing its remote work policies and this today from cnbc, google to crack down on office attendance asking remote workers to reconsider. jennifer elias wrote that piece. she joins us now cracking down on office attendance is this monitoring damages what were those people called, the hall monitor >> exactly basically they're going to be monitoring badge data and see, you know, if employees in aggregat

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this is the all new, all electric lucid air. a car that goes as far as it does fast.is... spacious. as smart... as it is beautiful. introducing the lucid air. experience the best. ♪ - psst! susan! experience the best. with paycom, employees do their own payroll. - what's paycom? a magic payroll genie? - it's a payroll app. - payroll is way too complicated for the average person. - paycom guides them through it. missing or duplicate punches, pending expenses, unapproved pto, on and on. - why would employees wanna do all that? - this could be a stretch, but i think it's 'cause they wanna get paid correctly. i like getting paid correctly. i remember being on aau trips, high school games. my mom would always say, "you need to fuel the body and you need salt." i would always be the kid not cramping, ready to go. fast forward 20 years and i go from eating salt out of my palm to drinking lmnt. >>> lightning round is sponsored by td ameritrade. ♪ >> it is time. it is time for lightning rounds. play the sound. and then the lightning round is over. are you ready? come from the

introducing the lucid air.nce the best. ♪ >>> venture capital harder to "the wall street journal" reports many startups are running out of money john fortt brings us a ceo of a data focussed startup that continue to drive growth >> george frazier is ceo of a company that moves data across cloud platforms. the company announced that debt raised from vista capital partners, which is interesting because they lasted through an equity round in 2021 george told me he didn't need the cash at the moment this was like opening up a home equity line of credit to have access to cash if that sounds smart, george has a phd is neuro biology. >> not because the brain is like a computer, it isn't the brain is exceedingly difficult to study it's a hideously, needlessly complex instrument and in order to tackle a lot of that, you need to use code and you need to analyze data in very complex ways in order to make progress and so the tools of computer science are very important for making progress in neuroscience. >> now he's worki

this is the all new, all electric lucid air. a car that goes as far as it does fast. as sleek as it is... spacious. as smart... as it is beautiful. introducing the lucid air. experience the best. ♪ >>> and welcome back to "the halftime report. let's get to our "chart of the day, adobe revenue beat estimates, the company raised full-year guidance on optimism that ai features will increase demand for its software kari, you own adobe. >> you bet adobe has not been a good stock. the last month has been fantastic. the prior two years almost has been painful the stock peaked, just crossed 500 for the first time in a long while. finally beginning to come out of its recession. higher than last year, better than expectation, billings up 12% and, you know, they do a lot of things that relate to content and creation when you think of photo shop you don't think of ai but they incorporate every bit of software technology they can apply to their field they are dominant and a leader this is an area we think has potential now that software is coming back and there's more building goi

this is the all new, all electric lucid air. a car that goes as far as it does fast. it is... spacious. as smart... as it is beautiful. introducing the lucid air. experience the best. ♪ >>> the restaurant business is hit or miss. while most of them put in good works now, wall street is increasingly worried how it will hold up as the economy gets slower and slower. some have been on a role like jack in the box and they own del taco a couple of weeks ago they reported great results that's one reason the stock is up big for the year. let's pull back hard from the recent highs in the bank what do you think? let's check in with darren harris, the ceo of jack in the box. welcome to "mad money." >> it's great to be here, jim. >> you have maybe the best same store sales numbers year over year how does that happen >> we've put in a great team that have been focused on our strategy, build brand loyalty, driving ops excellence, focused on growing restaurant profits and eventually getting a chance to expand jack across the country. same store sales is about focusing on our consum

introducing the lucid air.nce the best. ♪ this is dr. arnold t. petsworth, he's the owner of petsworth vetworld. business was steady, but then an influx of new four-legged friends changed everything. dr. petsworth welcomed these new patients. the only problem? more appointments meant he needed more space. that's when dr. petsworth turned to his american express business card, which offers flexible spending limits that adapt with his business. he used his card to furnish a new exam room, and everyone was happy. built for dr. petsworth business. built for your business. amex business. >> announcer: the opening bell is brought to you by nuveen, a leader in income, alternatives, and responsible investing. >>> all right. let's get a "mad dash" and followed by an opening bell. what are you focused on? >> okay. both bank of america and jpmorgan upgraded carnival cruise at one point, carnival views, if you remember, in the depths of the pandemic, they had to raise money. they were the first one to actually come through

introducing the lucid air.d make analyzing a big bank's data... no big deal? go on... well, what if you partner with ibm and red hat, use a hybrid cloud solution to connect data across clouds, then analyze all that data with watson. okay, but this needs to meet our... security standards? yup. compliance standards? mm-hmm. so they get the insights they need... yup. in real time... check. ...to make quick decisions? check. aaaand check. that's the solution ibm and a global bank created. what will you create? ibm. let's create. >>> good thursday afternoon to you, everybody welcome to "power lunch. we got some huge economic headlines out today. adp data above expectations. manufacturing activity contracting a bit and a big jobs report on deck for tomorrow. all while fed officials indicate a rate skip could be in the cards a couple of weeks from now. we want to perform a little econ/recon, to get a better sense of what the econom

introducing the lucid air. experience the best. ♪ >>> welcome back, everybody.ear that the technology will eliminate a lot of jobs and by the way, it's said it was responsible for 3,900 job losses last month, but it could create jobs too jpmorgan advertised ai-related roles. >> my guess is in the end, the increase will be more than the decrease, but it will require high skills. >> it's about what happens to the people caught by the churn in some ways g >> yeah. who gets disintermediated. james simon is donating a record $500 billion to stoney island. it's overseen by simons and his wife marilyn who were stoney brook alumni they report the largest unrestricted donation to a college in u.s. history. i believe mr. simons was a professor there in the math department before he set off on his quest at renaissance >> is it too much money for one school >> i don't know that a school would ever say that's too much money. >> i doubt they would say that. >> but i think as part of a matching program, this donation sort of nets up to more than a billion dollars. >> really? >

this is the all new, all electric lucid air. a car that goes as far as it does fast.s sleek as it is... spacious. as smart... as it is beautiful. introducing the lucid air. experience the best. ♪ no, no, no, no, no, no, no. experience the best. there's a problem with my paycheck. it's short. someone messed it up? i'm in the middle of nowhere. ♪ unnecessary action hero ♪ was that necessary? nope. neither are paycheck problems. with paycom, employees do their own payroll. no problems, no surprises. [narrator] schedule a demo at paycom.com and make the unnecessary, unnecessary. is it possible to protect my business from cyber threats? it is, with comcast business. helping every connected device stay protected. yours. your employees'. even... susan? -hers, too. safe. secure. and powered by the next generation 10g network. with comcast business, advanced security isn't just possible. it's happening. get started with fast speeds and advanced security for $49.99 a month for 12 months. plus ask how to get up to a $750 prepaid card with qualifying internet. ♪ >>> for nearly a

introducing the lucid air.erience the best. ♪ >>> welcome back troubles continue in the commercial real estate sector, even though more people are being pulled back to the office. data shows activity is only about half of prepandemic levels i asked one of the largest nonbank lenders about that yesterday. >> the issue with office is that there aren't discernible trends right now. we're waiting to see how this plays out from psychological and consumption perspective. >> my next guest joins me now. ron, great to see you. what was the mood? >> it was a really interesting conference, and office was obviously the focus. to set the table, when we talked to investors and office users, over the next three years, they expect to reduce their office space by about 10% so if you think about being 88% occupied before covid, at 82% today, and potentially going to 78%. so the mood was, i don't think investors were ready to step in yet in a big way there will be some opportunities down the line in special situations, but i thin

at the same time as lucid is doing this deal withes a ton martin where aston is getting access to theirogy and lucid is getting some aston martin stock, they may be able to stay alive selling technology versus cars. >>> ford motor confirming it's cutting engineering jobs in the u.s. and canada, while robin hood is cutting 7% of full-time employees as it struggles with declining customer engagement. >> want to keep mentioning this. and a new perk this is my favorite story of the day. companies are offering time off to do grandparents cisco offering it right now. this is helpful, everybody this is helpful for your younger workers, middle-aged workers, whatever it is let the grandparents come help we need it. >>> ryan seacrest has been tapped to take over as host of "wheel of fortune" when pat sajak retires next year. they only tape for two or four days a month. >> vanna white is keeping her job. >> that's amazing. >>> thanks for watching "power lunch." >>> "closing bell" starts right now. >> welcome to "closing bell. we begin with the rally in stocks and whether the setup for the second h

this is the all new, all electric lucid air. a car that goes as far as it does fast.sleek as it is... spacious. as smart... as it is beautiful. introducing the lucid air. experience the best. ♪ rich, velvety coffee. café quality espresso. one high-pressure system that can do both. brew to your heart's desire with the l'or barista system. a masterpiece in taste. >>> welcome back to "fast money. the do dropping more than 200 points, the s&p down a half a percent. boeing losing 3% one of the worst performers. the company, along with airbus, front and center at the paris air show, where companies are expected to order 2,000 jets disney falling after a rough opening weekend for pixar's "elemental." >>> well, crude under pressure analysts at china's oil producer and supplier cutting their forecast from over 5% to about 3.5% this year energy, the worst performing sector today, with phillips 66, halliburton, devon energy seeing some of the steepest losses. it's been a tough trade this year, savita is this a value area >> energy? yeah, i like energy a lot. i think enter is an

introducing the lucid air. experience the best. ♪ this is dr. arnold t., he's the owner of petsworth vetworld. business was steady, but then an influx of new four-legged friends changed everything. dr. petsworth welcomed these new patients. the only problem? more appointments meant he needed more space. that's when dr. petsworth turned to his american express business card, which offers flexible spending limits that adapt with his business. he used his card to furnish a new exam room, and everyone was happy. built for dr. petsworth business. built for your business. amex business. is it possible to protect my business from cyber threats? built for your business. it is, with comcast business. helping every connected device stay protected. yours. your employees'. even... susan? -hers, too. safe. secure. and powered by the next generation 10g network. with comcast business, advanced security isn't just possible. it's happening. get started with fast speeds and advanced security for $49.99 a month for 12 months. plus ask how to get up to a $750 prepaid card w

this is the all new, all electric lucid air. a car that goes as far as it does fast.as it is... spacious. as smart... as it is beautiful. introducing the lucid air. experience the best. ♪ >>> let's do some "grade my trade. from steve, been buying energy transfer for the past several years. dividend is 9% what should i do >> steve, first of all, i give you an "a. if you don't know, energy transfers in the midstream space are up 8% this year. midstreams have done well, so continue to hold, collect that 9% and great job >> okay. jimmy from a twitter user. grade my trade on gm bought it at $33.33. >> give it an "a." what is the stock selling for, five times earnings, 60% of book value. i love scott scott is going to come at me it stunk for years >> you're giving it an a >> i'm giving it an a. it's where it's going. i'm teasing you a little bit, scott. but there is a good point here look, it's been stuck here, and there's two things i want to say. number one, you can't base today's decision to buy, sell, or hold based on what it's done in the past. you the that based on th

this is the all new, all electric lucid air. a car that goes as far as it does fast.k as it is... spacious. as smart... as it is beautiful. introducing the lucid air. experience the best. ♪ >>> will the fed raise rates again this year? the majority of you said yes two-thirds of you, in fact, 61%. up next, the crucial cpi numbers sending stocks higher. what that might mean for the fed decision tomorrow when we take you inside the market zone, and by the way, do not miss double lines. jeffrey gundlach, his reaction to that decision that's tomorrow on "closing bell." we're right back es need to navie the changing landscape to stay ahead. when you partner with barclays, every change leads to a bold possibility. you have the vision. we have the insights, financial solutions and global perspectives to help you make it real. barclays corporate and investment bank powering possible. what do you get from the morgan stanley client experience? listening more than talking, and a personalized plan ♪ to guide you through a changing world. ♪ new projects means new project managers.

i want to zero in on lucid group. we have the $3 billion stock offering. the company obviously needs more capital as it advocates the uncertainty with its business. they've got that big backer in the saudi sovereign wealth fund. salesforce a standout with the dow, but unfortunately for those who are bullish, to the downside. the sales outlook pretty lackluster. it is a reminder that not all things in technology are rosie, matt. matt: no, we saw a bunch of software companies come out after the bill yesterday and probably drop, even after cathie wood recommended software is a better way into ai than hardware. credit conditions are continuing to tighten. we are witnessing marconi's on the verge of filing for bankruptcy--more companies on the verge of filing for bankruptcy. one analyst discussed how the trend is likely to continue. >> credit is the canary in the coal mine, and the equity market doesn't seem to be paying attention to it right now. quite frankly, the fixed income and credit markets are not necessarily paying enough attention to the details. when

introducing the lucid air. experience the best. ♪ >>> welcome back we have a deluxe edition today our team of reporters will give us the news and moves. there they are the president of nation's indexes will give us his trade let's start with home depot. what's going on there? >> home depot shares have been wavering between gains and losses as you can see pretty much all session long. but none of the moves have really been all that dramatic meaning perhaps that home depot and ceo ted decker gave investors what they were expecting at today's investor day. decker and the rest of the home depot management team affirmed their full year forecast for america's biggest home improvement retailer adding it expects overall home improvement markets to grow by low single digits with gross profit margins pretty much in line with what they were last year. one of the things home depot and other retailers will struggle with is the concept of shrinkage, industry jargon for the negative effects of theft on a company's financial r