see it there down 7% a 26% jump in revenue not enough to impress investors and for palantir pa palantir down 12%. allovir is going for a deal valued at $8 billion what that means for the rest of the space and start with breaking news. steve liesman has that. >> new york fed out with its consumer expectation survey and finds inflation expectations registered their biggest drop on record this series goes back to 2013 inflation expectations for gasoline, for food and for home prices, here are the numbers down 0.6% on the one-year at 6.2% the one year ahead of inflation expectations, that's still too high but it's come down. three-year, 3.2% down 0.4% and five here year down by 0.5%. the one the fed focuses most on and will be heartened to see it move toward its 2% target and household income expectations up but declined for spending. jon, this is something the market wants to see the fed give a breather and shows how tied these expectations are to gasoline jon. >> for sure. lots of different data to consider to start a new week, steve, thank you let's turn now to chips, nvidia sharply lowe

about the retailers in a moment when we are joined by the former walmart ceo bill simon the coo of palantir will join us to discuss health care and why they are hiring while many other tech players are tightening their belts. >>> we'll start with the market dashboard. mike santoli here to take a look at how big tech names are impacting the summer rally they had been doing well today, not as well. >> taking a rest today and really looking at how big growth is affecting the overall valuation of the market. now, there's a couple camps in opposition those that look at this rally are pointing to the breath and momentum signals these are the kind of things you see at lows fundamentalists say not much has changed and may become a headwind again the s&p 500 forward price earnings multiple is now above 18 again that's the middle line right here so you see if you take it all the way back, it's basically where we were just before the pandemic crash that was at a historically elevated level if you pull it apart just a little bit, the nasdaq 100, which, of course, is dominated by the top five names in t

palantir. 20 more coming up.his is bloomberg. ♪ emily: qualcomm is taking another run at the market for server chips to decrease reliance on smartphones. the company seeking customers for a product stemming from last year's purchase of new via according to bloomberg sources. they say aws is one of the biggest server chip buyers and has agreed to take a look at what qualcomm has to offer. china is lashing out at a 52 billion dollar program to expand american manufacturing of semi conductors. an industry association says it contains elements that violate fair market principles. the legislation prohibits companies that receive funding in china. it is the biggest annual television deal ever for a college sports conference. . the big ten has reached an agreement for a seven year contract with fox, cbs and nbc. is worth seven at half billion dollars. the price of college football broadcast rights has soared and no one has cashed in more than the big ten and the southeastern conference, both of which are expanding to 16

. >> shares of palantir getting crushed on weak earnings is it down enough to buy we'll have answers on three stock lunch on "power lunch" which begins right now ♪ ♪ >>> good afternoon, everybody, and welcome to "power lunch. i'm tyler matheson kelly will join us in just a sec. here's what's ahead on a busy monday a major economic bill passing the senate and we will look at what it could mean for the economy, corporate america and taxpayers like you we'll dig into the industries that could be most impacted like evs, solar and health care a major revenue warning from nvidia the company expects a decline in orders for its gaming customers. what does it mean for the chip industry which is still struggling with the effects of a shortage and we'll get into that and a lot more kelly? >> tyler, thank you. hi, everybody. let's take a quick look at nvidia as we kick things off and this market tells a lot of the market story down 8% after that warning dragging down a lot of the other chip names, as well and the smh down about 2% rid now and the other fighting back the components more toward po

i know you've been eyeing palantir but you haven't pulled the trigger yet. report something that's going to make you buy or make you hold back? >> i made this one of my picks for the cnbc stock draft because of the strength with lobbyists in washington. they're everywhere you go to washington, d.c., these guys own the town. and so their technology is particularly friendly. i don't care what side if you're a red state, a blue state or what side of the aisle you serve. i think the government's very comfortable with their platform and the security it provides, so i think that relationship's locked in. now, in terms of getting a better place to forecast and why it didn't buy it today, i actually think it's going to see some more downside, and my thoughts are there's going to be a lot of volatility until midnight or past mid night on november 8th if what i think is going to happen and i want to be bipartisan when i say this, i'm just looking back at history, every incumbent loses seats in the house, but in this case maybe the senate as well, and all of a sudden t

rates hitting momentum stocks, hitting growth-oriented stocks, changing valuation concerns but palantir's results did nothing to allay investor fears about whether or not growth stocks could be a place to invest right now we'll watch palantir shares, kelly, right now down 12 1/2%. not an s&p 500 company but still maybe a telltale sign of that growth trade i'll send things back to you >> single digits below ten bucks. dom, thank you very much meantime, nvidia is on pace for its worst day since may after warning second quarter revenue is more than a billion and a half dollars below estimates the chipmaker blaming the shortfall on weaker than expected gaming revenue. said it's also adjusting pricing and inventory to battle, quote, challenging market conditions that are expected to persist into the third quarter now, this is dashing some hopes that the semi stocks can resume leadership after their woeful start to the year. the semi etf, the smh you see there, down about 22% since january. but at the same time it looked a lot worse before that sharp rally since the start of july that has seen

another name deep in the red today is palantir.timates but earnings were slightly below wall street forecasts. guidance was also weak the cfo blaming that on lumpiness of government work frank holland here with more frank, what's the reason the stock is hit so hard, down 14, 15%? >> well, sara, it's really not that complicated it's that soft guidance. that lumpiness comment was confirming the fears of many investors according to analysts. there's a lot of concerns about the inconsistency of government work and the fact that it's kinda sometimes hard to forecast it can always be hard to forecast a lot of people may have forgotten about this, but people on wall street haven't remember that $10 billion jedi contract amazon battled over and it was broken into smaller pieces that's something that hangs over this stock the idea that government work can change or shift whether it's due to an election or something else that happens in d.c you have to remember that palantir gets 80% of its revenue from government contracts. >> frank holland

palantir, down 13% right now. >> i'm looking at that right now.g to do following friday's hot jobs and what the fed may or may not want to do about that mike santoli is joining us with more right now mike >> yeah, andrew, the debate is looking a little more balanced after this rally we've gotten, after the recent run of jobs data, looks like the recession calls maybe were premature even before this little additional rally this morning. right below the june highs, 41.70ish is what everyone has been watching. all of a sudden you gain back more than a half in total losses on the downside since january. some people would say it starts to look more like a bottom this right here is exactly where the market stood before the first fed rate hike in march so there's a sense out there you've really kind of synthesized a lot of new pressures from the fed and everywhere else over this multi-month period maybe it was enough. we'll have to see. take a look at one of the examples the bears are clinging onto this would be the bear market that started in march of 2

for the third quarter, palantir expects revenue of $475 million. that is up $55 million.enue numbers of $1.9 billion for the year. income from operations up from $41 million-$43 million is not what the market and investors had been hoping. not a lot here. we have had to call but i don't have a lot to share from it. >> and i think what we heard a while ago, this is another thing you did not think that technology should be hurt by. technology was seemingly immune from other parts that are hurt the economy. in other words, totally secular growth. the slowing dollar should not matter and the fed should not matter, but they are coming into play. even though i want to be bullish, there is hunting and undercurrent. wait until the economy gets bad. it's not enough to just break oil. >> i am just making sure there is nothing of great importance. you saw the palantir shares down 14% . it has not been strong since it's direct to listing. their revised guidance excludes any major u.s. government awards. of course, the department of defense has been one of their clients. >>> now let's

of palantir.next on "squawk on the street", a big interview, an exclusive with doug mcmillon keep it here welcome to another hour of "squawk on the street. i'm melissa lee along with leslie picker. we'll take a check on where we stand today. the s&p 500 and the nasdaq just fractionally lower >> here are three big movers were watching. zoom falling they see news hurdles to sustaining growth. they also believe other macro-related factors, cutting costs will weigh on results. you can see shares are down 6.6% right now. >>> then home depot trading in a tight range, moving higher at the op today, 2. -- >> such a knee-jerk move to sell that incredibly well d. people do not even think about who the ceo and what he's doing. >> by the way, jim cramer is here with us on set. decker is a great person, so we decided he didn't deliver effort a great quarter? no we've seem then all our lives. >> we do want to get to news involving our own company. after 28 years, mark hoffman, longtime cnbc chairman, will be st

. >> before i let you go, we always run co-founder palantir on the bottom of the screen. a wild ride. it was as high as $30 now we're looking at a stock that's been chopped more than in half this year i think we're 8, $9 a share. what do you think is happening here >> you know, i think their last earnings were -- the numbers came in quite strong for revenue. rather than growing at 30% they're going to grow than that. pal lynn palentir is hiring i think growth stocks have got -- obviously as a meme stock it was ridiculous heights. i think it's a good opportunity for people who want to be part of that next decade. i would be very bullish. >> you just mentioned meme stocks we've been watching meme stocks come back. all of a sudden everyone is talking. last week was bed, bath & beyond this week it's the apes with what's happening with amc. >> you probably don't want to be -- that's probably not a good thing, not for the long run. >> what do you think is happening? to the extent it represents something about the psyche of the markets or the retail investor or maybe it's the pr

government revenue in recent quarter palantir down 37% year-to-date losing 14% premarket trading.onds the latest on the search for the suspects, plus, breaking records eye-popping tray for new luxury garbage bag making a buzz this morning, is anybody paying that? ♪♪ ♪ ?oet ♪ if you shop at walmart, you get it. ♪ you're not just getting by. ♪ you're getting the most out of what you've got. ♪ and you know how to spend a little less, to get a little more, to make life a little better. ♪ ♪♪ choosing miracle-ear was a great decision. like when i decided to host family movie nights. miracle-ear made it easy. i just booked an appointment and a certified hearing care professional evaluated my hearing loss and helped me find the right device calibrated to my unique hearing needs. now i enjoy every moment. the quiet ones and the loud ones. make a sound decision. call 1-800 miracle now, and book your free hearing evaluation. worker's comp was about 20% of my total expenses. i needed a worker's comp policy that wasn't going to strangle my business. when we got the quote back from pie, it was

palantir, that's a big decline, 7%. lauren: look, they're not going to make money until 2025.ey cut their forecast. they reported a surprise loss. they do a lot of business with with the u.s. government, but the timing of some of those contracts, uncertain for them. i thought that was interesting because the commercial side of their business is booming, and they also do business with the e.u. now, you know, russia and ukraine. but it's the contract news and the not profitable for the next couple of years news that's really hammering the stock. stuart: gets you every time. the ceo says, well, we're not going to make profit for a couple of years, doesn't look good. tyson, we heard just a few moments ago in that keith fifths likes their long-term -- fitz likes their lorm prospects. lauren: the silver lining is demand for beef. chicken volumes sell. have you ever bought a prepared food in the store? if it is so expensive. they preseason the meat for you. heir not doing well there. you're not going to buy that, you can butt adone -- put adobe on your own meat. stuart: you're right.