that's where he sees the growth. >> seema mody. seema, thanks.either of these companies a buy off the news they're both down 25%. there's some slivers of good news >> yeah, i mean i own ge i don't own 3m but i like 3m as well and like this move quite a bit. you get a nice yield while you wait for the recovery and the spin but for ge, you're starting to see -- cope is starting to get respect and starting to get traction at the company in terms of making the changes that were very much necessary. so they beat organic growth was 5%. that's pretty impressive free cash flow was better than expected of 200 million versus 800 to 900 million loss expected and i think, yeah, aviation is the bright spot for sure total revenue up 27% orders of 26%. total revenues up 27% compared to 12% last quarter, so they have seen a nice progression sequentially in the meantime, he's doing the right things. >> interesting to see earnings winners at the top of the dow. mcdonald's and 3m. walmart at the bottom. and then there's coinbase. not in the dow shares are sharply l

the sector trying to save or fight positive today seema mody is here with what's behind the moves andelly, were brought down so much because all the data from the industrial world came out so negative but that gave the companies the ability to beat. 3-m shares on track for its best day in three years and the tock is really moving on news that it's spinning off its health care business which makes up about 25% of the company's sales. melius research calling it a smart and critical step out of the abyss. since mike roman begin ceo of 3-m shares have shed $40 billion in market cap and this is being seen as a bold move and being shared by wall street and it's being taken from ge's larry culp's playbook as the company sets set to split into three companies. culp remaining the ceo of avecation. that's really what drove second quarter earnings and demange'd manned for engines and repairs is up. sales up 27% ge did push out its $1 billion in working capital due in part to the pressure it's seeing in its renewable business, pointing to washington for not green lighting the subsidies needed to

i'm seema mody in for brian sullivan at this hour. let's kickoff the week with a look at the stocks at this moment a look at futures right now. according to a lower open. the dow indicating lower by 150 points stocks kicking off the second half of the year on a strong note all three climbing by 1% on friday still not enough to erase the steep losses for the week. dow falling 1.2% with the s&p shedding 2% as you see there the nasdaq, the biggest loser, falling more than 4% a lot of it having to do with the bond market. 10-year treasury has been around the 3% level today is below that at 2.88% we will keep an eye on that. draw your attention to the oil market we are watching this strike by norwegian oil workers. further fueling tight supply worries. here is how oil is trading wti crude is higher by 1% at $109 a barrel. ice brent crude is lower at $113 nat gas at 5.76 at this hour. >>> and cryptocurrency bitcoin broke 20,000 yesterday you see it is just below that at $19,852. ethereum at $1,137 is now slightly higher by 1.5% right now. t

let's get some headlines with seema modi. >>> here's the update this hour. man accused of spraying gunfire into a july 4th parade made his first court appearance a short time ago they say robert crimo iii faces seven first degree murder cases as a result of the shooting at the highland park independence day parade ordered held without bail, could face life in prison without possibility of parole. >>> former white house counsel pat cippolone agreed to be interviewed by the house committee investigating last year's january 6th attack on the capitol. the panel issued a subpoena last week he will sit for a videotaped described interview sometime before friday. he is not, however, expected to testify publicly >>> legendary guitarist carlos santana doing well after collapsing during a show tuesday night in michigan. he blamed it on not taking time to eat or drink before the concert. santana in the midst of a tour with 21 days left, not yet known if he will resume performing david, back to you >> thank you. >>> up next, the etfs to watch amidst volatility. >>> and

let's get to seema mody for the cnbc news update. >> kelly, good afternoon here is your cnbc news updatethis hour. in a statement, president biden said he was stunned, outraged and deeply saddened by former japanese prime minister shinzo abe's assassination and telling reporters he does not believe it will have an effect on japan's security. >> i tried to put a call in to the present prime minister, and he was up very late there, and i'll be talking there in the morning. i do not believe it's likely to have, but i don't know yet, likely to have any profound, destabilizing impact on japanese security or japanese solidarity. >> incredibly sad news moving on here, the national institute of health is rolling out one of the largest studies in the world to understand long covid symptoms the study will cost over $1 billion and will follow 40,000 participants for four years and the goal is to identify what the long term symptoms look like in the auto space, ford motor, the company is issuing a recall for 100,000 vehicles for a higher risk and the recall covers 2020 and 2022 model ford escape veh

seema mody, thank you. >>> look at twitter shares, they got a pop today midday right after a delawaree lawsuit against elon musk ruled in favor of twitter, saying the expedited trial will go ahead in october rather than next year, which is what musk had been pushing for julia boorstin is here julia, what does it all mean for twitter? it looks like they got a little bit of a win here in the first shot. >> this is definitely a win. twitter wanted a four-day trial in september musk wanted a 14-day trial in february the judge saying that it's going to be a five-day trial in october. it's certainly much closer to what twitter was asking for. but i would just point out that in the judge's comments, she definitely seems to understand the risk of this whole situation to twitter i'm just going to call out what she said about how the delay in this deal risks irreparable harm to the company so indicating that she is sensitive to how challenging and problematic this has been to twitter. i would say that it really indicates that there's a chance that things go in twitter's direction. much more so

days of the pandemic let's bring in jason liberty, the ceo of royal caribbean, with our very own seema modyy, thank you. welcome back to cnbc the good news here, revenue in the second quarter doubled what you saw in the first quarter pricing of tickets has come down is that what's driving bookings here, jason? >> what's really, if you look at our revenue environment, there's a mix between what's happening with ticket and what's happening with onboard and that's packaging in how we're coming to market what really drove it, more accelerated demand on our bookings is what drove the outperformance relative to our expectations >> your stock really popped on the comments you made on the analyst call this morning where you said you will prioritize cash to pay down debt. for those invested in rcl shares, are you telling them you will not launch a stock sale which your competitor, carnival, did last week? >> i really said three things about how we're going to manage our capital. first we're still continuing to seek high returning investments that we make second, as we are now generating free cash fl

. >> seema mody, back to walmart, a story of the morning, the biggest drag on the down right now, thes outlike. we're seeing a pretty big ripple effect, courtney, we've got to look at the xrt again, down 3.5% or so. it's been 8 1/2 years since walmart, we know it's it's a dow component, so really sending concerns there all consumer-facing -- sales are trending stronger than anticipated, but the profit that's generated as a result is lower. why? walmart is selling more of the lower-margin goods, and having to discount going like apparel just very plainly putting it that food inflation is up double digits, higher than it was at the end of the first quarter a key point is that walmart has about 55% of its sales from grocery. only about 20% of target's sales mix is food. apparel is a more significant percentage of sales for targets than for walmart you know, they warned earlier, a number of ammists, including goldman sachs, wells fargo, mkm partners, oppenheimer, they're not surprised about the profit warnings coming from walmart they liked the increased share in grocery and not deterred

seema mody has a look at what's changed.t typically means bad news for emerging markets and what's worth noting is some countries have learned from the past case inpoint, indonesia and south africa hit hard in 2013 by the tantrum because of the size of their current account deficits a look at the fragile five economies that are sitting on that include brazil, turkey, india. that debt is smaller than it was eight years ago. at this point sending it into a crisis remains low and it will remain as a headwind the cost of service foreign debt does go up and it does cut the growth forecast for 3.4% for this year from 4.6% previously according to capital economics, most vulnerable include argentina, turkey. and the positions improve in the last couple of months. you had president xi jinping. ails some of the u.s. companies like those that have that exposure to the chinese market that would give us a read on what's really happening on the ground. >> look at adidas happening yesterday and it was chinese demand that was one of the rea

industrials, as well and as we're trying to gauge recession this is an especially important time seema modi at what we can expect. >> if we talk about the consumer spending data that we got from american express and the banks you would say, well, the consumer is holding up pretty well, but the industrial economy less so. the manufacturing flash pmi was the weakest in two years while services pmi fell into contraction territory and that's below 50 data out of europe has not been faring better and new orders have been in contraction, and 3m set to report tomorrow at an investor conference this month the company talked about how its numbers reported to a 3% negative impact from the china shutdown ask also citing currency headwinds and continued concerns around inflation. j.p. morgan's price target out today $134 that's exactly where the stock is trading at right now and a similar story for general electic which has seen estimates cut on the continued supply chain constraints and both 3m and ge have been trailing the industrial sector by a wide margin and you'll see the industrial sector down 1

. >> let's go to seema mody for a cnbc news update. >> here is your news update at this hour.d a man guilty of killing nipsey hussle in 2019. a former acquaintance of hussle's is convicted of shooting him outside a clothing to are. >> peloton is increasing incentives for its workers with one-time cash bonuses and changes to the stock compensation plan as it fights to hold on to employees and fit its struggling business. the changes come a little more than five months since their new ceo took over amid financial turmoil. >> the number of confirmed monkeypox cases in new york city has doubled in the past week from 55 to 111 starting today labcorp will begin testing for monkeypacks as health officials in new york city received a fresh batch of monkeypox vaccines >>> netflix announcing it will be developing a spin-off of the science fiction series "stranger things." no details on the story, but it will come from the brothers and the creators of that show, "stranger things." back to you. >> i have to get into that >> i've watched some of the seasons and i'm not all of the way caugh

let's get a news update from seema mody >> here's what's happening at this hour.rtgage rates dropping for the second week in a row homeowners and potential buyers remain more reluctant to lock in a rate the average interest rate for a 30-year fixed rate mortgage fell to 5.74% new data shows apartment sales in manhattan fell a whopping 30% in the month of june, driven by recession fears and plunging stock values the fda has put its ban of juul e-cigarettes on hold allowing them to stay on the market while the company appeals the decision juul claims the ban would cause the company irreparable harm u.s. service businesses, restaurants and hotels are growing at a slowing pace according to the ism at the same time the labor department reports that the total job openings fell in may, but still outnumber the number of people looking for work and remains near record highs. together the two stats could be a sign that the economy is slowing down we'll find out more about the fed's view of the economy at 2:00 p.m. today when it releases the minutes of its last meeting. john

we'll get more updates on that in just a moment first, a news update with our seema mody >> here is what happening at this hour. more evidence of a slowdown in housing, as interest rates rise. the government just reported june housing starts fell 2% from the prior month and 6.3% from a year ago they had been expected to rise last month however, home builders have been warning of a slowdown in sales and cutting prices as well a break for consumers a to the gasoline pump. aaa says the average price of gasoline has fallen below the $4.50 per gallon mark. that is the first time that's happened in two months the average gas price had topped five bucks early in july >>> apple has agreed to pay $50 million to settle a class action lawsuit involving keyboards on its mac book computers customers had claims the company knew that the so-called butterfly keyboards were defective and prone to failure the settlement covers mac book models bought between 2015 and 2019 in seven u.s. states including new york, new jersey, florida, and california. john, back to you. >> seema, thanks that's the most hated

. >> appreciate that, thank you se se s seema mody. >>> the midday movers, we're back right after this on "the half." floor. it's a place to change the world. loopnet. the most popular place to find a space. (ted) after talking and texting for years, we got married... for the family plan. (jane) and then we really expanded our family... for the wireless savings. (ted) it seemed like the responsible thing to do. (jane) and then, just yesterday, my sister told me about visible. (sister) yeah, get unlimited data for as low as $25 a month. no family needed. (vo) family plan savings without the family. get visible. single-line wireless with unlimited data for as low as $25 a month. [ "back to life" by soul ii soul ] what if you could change your surroundings with the touch of a finger? now you can. biometric id... inside the innovative, new c-class. >>> welcome to "the etf edge" portion of halftime report, i'm bob pa see knee. environmental social and govern nance -- there are still new esg products being law firmed. vanguard launched another eft fund, the positive impact stock fund, it's a

seema mody joins us now and she's got a special guest. >> thank you we're sitting down with the ceo ofwelcome to the new ritz-carlton nomad. >> 10,000 square feet of space for business travel, this is an exciting moment. does this reflective of where marriott sees the opportunity going forward, the luxury segment? >> well, certainly we're very focused on luxury. luxury represents about 10% of our global footprint in terms of rooms, but it generates about 25% of our rev related fees and it's a big payoff for our bond members. they are so loyal to us and one of the things they love to do is redeem points for stays in our luxury portfolio so we're growing across segments, but luxury is critically important. >> the ritz has appealed to the high income foreign traveller. international arrivals to the u.s. still not quite back to 2019 levels. when do you think that changes >> hard to say obviously when you see what's going on with the strength of the dollar, that could have some impact but we continue to see slow, steady growth in inbound international travel. >> that's exciting luxury histo