on a positive note, keybank did double up saying early pain means early gain picking out pulte group,rton, how is that changing given market dynamics? are we flat out calling a housing recession? >> several have called it a housing recession. the builderss did it last week and reiterated it today. 10.9-month supply at the end of august it was 5 1/2 month supply in the end of august. the existing home market still has a lack of homes for sales. not only because homes aren't selling but sellers are afraid to put their houses on the market like the chart of the ten-year treasury, that's the one the 30-year fixed mortgage rate loosely falls. mortgage rates went over 6% last week, hit 6.24% today. when you're facing that and a huge amount of supply on the builders' backlog, they're starting to say things like amenities, like buying down the mortgage rate, and, again, lowering prices. one quarter of builders in the report today reported they were lowering prices. that's difficult to do given their high cost for land, labor, materials. and i think you're for sure going to start to see that s

if you look at pulte relative to lennar, pulte is the one you want to own. but if i look at where the housing stocks have done versus the s&p, they're actually flat to the s&p, which is almost yeomanlike oreowomb man like when you consider when going on like you're talking about performance to their targets they're seeing 22% upside. i bet if you pull analysts around the street, i don't like the interest rate sensitivity. part of the call needs to be really that we're starting to see some peak on mortgage rates. that to me would be an argument that at least i could begin to try to argue around, even though it with australia day when the ten-yet to, i think close to 11-year highs, when we got above 350. >> what about you, karen >> i agree if rates have sort of maybe popped up, peaked, they ended up off their highs from today so if that's the case, then you can make a case for why the home builders should be doing well. try not to read too much what happened today i feel like positioning around the fed, i kind of feel like it's a game of dodge ball. a lot of p

builders which have been collapsing nice moves about 5% moves are significant, he nar, horton and pultey it looks pretty strong and yet i follow baskets of most oversold stocks and the amount is modest here intel collapsed a new low in the last two weeks, that's all you can muster, 0.3% coca-cola was down 7 days in a row, the biggest losing streak since 2018, that's all 0.8%. mcdonald's eh visa collapsed, 206 two weeks ago, look at it 178. that's it? so temper your enthusiasm when you see the market is not going after beaten up stocks in any aggressive way as you heard earlier from brian and seema, there is a big hurricane bearing down in florida. there's an etf for this believe it or not, fema, fema and most of the names in that exchange traded fund, home depot, floor and decor, masco, home appliances, infrastructure work, all up 3 to 6% contessa, back to you >> thank you for that. >>> a wild day in the bond market, the 10-year yield hit a high of above 4%, first time hitting 4 since october 2008 but then you see a big turn lower since then now sitting at 3.73% yield that turned lower

before joining beyond meat, he had spent three decades at tyson foods overseeing the pulte and, of coursed, of course, mcdonald's buzzes. -- businesses. losing 5.7% right now. and here is a disturbing story as well. charter communications is now touching an 18 month low after "the wall street journal" report a texas judge has ordered the cable company to pay $1.15 billion in damages for the murder of one of its customers. in july a jury held that charter was responsible for the 2019 robbery and murder of a texas grandmother by one of its technicians. and awarded punitive damages of $7 billion to the victim's family. ed today's judgment lowers that number, as i said, to just over $1 billion. but still the stock is selling off. charter had said it would night, but we don't know exactly what's going to happen from now. charter down 2.6%. >>> change health care rallying at this hour after a federal judge ruled against the justice department's antitrust the challenge of united health care's purchase of the health care system company. the department had filed an antilawsuit to to stop united he

keybank upgraded three builders, hor horton, lennar and pulte as they are all three underperforming theing. welcome to another hour of "squawk on the street. i'm carl quintanilla and morgan brennan making her day back after maternity leave. >> glad to be back what did i miss? >> not too much. we missed a lot of coverage from you. i'm looking forward to that as well >> oh, yes oh, yes. i did not come emptyhanded before i get to that, i want to give a little shout out to my family, given it is day one back from maternity leave i think we have pictures here. max is almost 4 months old he joins his sister who is 6, in first grade, and nico, who's 2 i love the matching pajamas. all of my. pictures on tv are matching pajamas. everybody is doing well. family's good. it's even better now to be back here >> yes, it's wonderful we look forward to some resumption of defense and space coverage, i hope, maybe. >> yes, you can. as i mentioned, i might have been busy coming into the weekend, i went to boseman, montana, caught up for a tv exclusive will tech billionaire and astronaut jared isaacman who