stifel also increased its price target to $350 from 320.dle there of 330 and 325.81. from pizza to pita, as the world goes crazy of the heart healthy mediterranean diet, wall street is going nuts over cava, public debut today. as they head into the very first final hour of trade for the stock, cava's co-founder s join us next. well, to assess the stocks stellar move which right now is up 22 bucks, that be a gain of 102% on yes, its very first day of trading. yeah, you know, not all day byes look this good, when one actor whose now very famous but wasn't famous back there, first performed his iconic life story in 1988 it was on the tiny stage in los angeles. today, a bronx tale has become one of the most famous movies about american italian life in the 60s. chaz tells his real life riveting story of how he fought his way out of the vicious streets of the bronx all the way to hollywood and broadway as well with unbelievable twists including turning down a producer's offer of a million dollars for the rights to his story, because dude wouldn't

joining us is stifel chief equity strategy, barry bannister. why do you see cyclical value now in the krooifr's seat? even with the expansion of the rally, it's been all about growth this year >> yeah, about two weeks ago, tuesday two weeks ago, we said the s&p would just level out around 4400, but the equal weighted s&p, sort of a measure of growth of breadth, that would catch up it would go back to its february 2, 2023 high, which was nearly 10% at the time. about half of that is accomplished it's too soon to be defensive. i do like cyclical value the economy is holding up. the fed is in a transition i think they're going to passively tighten, meaning state tight longer than expected where they are and as inflation fades, real rates go up. about an hour and a half ago, your bob pisani was talking about this very thing. it's at a point cash and bonds become very competitive against stocks as that real after-inflation interest rate rises. that's probably my concern around late august, september, october that we could have a correction of 10%, i

stifel's barry bannister reiterating the call by the third quarter. we hit it. came close what do you think? >>> later, house speaker kevin mccarthy will join us on the set at 7:45 a.m. big speech coming from president biden tomorrow night we heard a preview of that from jared bernstein yesterday. we will see what speaker mccarthy thinks. we'll be right back. - [soldier] take a look at this! - they've left us a gift. - [soldier] i think we misjudged them. - i love horses. (birds chirping) - [soldier] we should open the gate. - let's see what charlotte thinks. - [narrator] at crowdstrike, we monitor trillions of cyber events to detect threats and prevent breaches before they happen to keep your business from becoming history. we stop cyberattacks. we stop breaches. we stop a lot of bad things from happening. crowdstrike. protection that powers you. 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

let's talk more about this with meyer shields which is a stifel company. >> good morning. >> when you look at the headwinds, i mentioned fraud and litigation and costs of settlements and verdicts gets mentioned on earnings calls. you have inflation and rising cost of labor and materials and supply chain problems. of any of these, do you think re-insurance is, by far, the most immediate impact? >> i'm going to say yes. in part because where we are in the calendar june 1st is when most of the companies insure property in florida and re-insurance products kicks in. the rate increases were dramatic 30% to 40% that is a significant increase it is probably taking property pricing to an all-time high. the difference between the primary insurers and re-insurers, they don't need regulatory approval. those changes are implemented at will on the other hand, insurance companies have to wait for the regulators of the various states to approve rate increases, which means in the interim, an insurance company could pay more for re-insurance before they collect the higher insurance rates they need to

stifel raising the price target to $350.lize sales and continue carry out sales to the record level in the next year and oppenheimer lowering sofi rating stock more than doubling this year the compared to the s&p 14% gain shares of sofi down 5.5% this morning. >>> coming up, the one word every investor needs to know today, plus gundlach versus the fed. why more rate hikes from the central bank could spell trouble for the markets. >>> and june is pride month and cnbc is sharing stories with you. here is the head of kre. >> my advice is to tap into the power and uniqueness of your identity early in my career, i hid who i was at work. a queer disabled woman in tech it wasn't until i started bringing all aspects of who i was into the work i did where i truly hit my stride. don't shy away from bringing your whole self to work. incorporate it into how you approach work will propel you to grteheht ear igs. this is dr. arnold t. petsworth, he's the owner of petsworth vetworld. business was steady, but then an influx of new four-legg

stifel will have a lot more in just a few moments on what china is planning especially after the warship". wisconsin republican congressman mike gallagher. various chairman of the house select committee on the chinese communist party but he will fill us in on what they are planning next big place you do not want to miss this our exclusive fox news interview. the last living jimmy hoffa suspect finally speaks out after almost 50 years. now 84-year-old gabe says no it's been called the second suspected hitman. you're going to hear it when he really has to say about one of the greatest mysteries in american history. >> in detroit did you take up with them emmett? >> nova questionnaire took the pet everything you i read says you check the fit for quick to never took the fifth advice they take the fifth i have nothing to hide why should i take the fifth? i heard about the payroll tax refund that allowed us to keep the people that have been here taking care of us. learn more at getrefunds.com. [♪] if you have diabetes, whatmuscle health. try boost® today. [stomach growling] it's nothing... sou

i accept stifel and piper and a half a dozen others. stifel has been right. piper. been right he was here. he said what are you talking about taking us to 3,200 that i don't know about do you know? we don't know there may be a recession? we don't know all these things. >> these are the things when we thought we knew and priced them in >> i have been watching this since 1980 someone who has been in the business for three years and i'm supposed to listen >> a wide range of outcomes. >>> last week, bitcoin had the best week since march. joining us is tom lee. global adviser and cnbc contributor. we can talk bitcoin, but that is not why you are here in fact, i used to needle you at one point. i wasn't really needling you, but bitcoin dropped from 40,000 to 20,000. you were the well respected equity analyst you said you were sticking with your target. all of us would have why would you get involved with something that would hurt your reputation? >> yeah. >> kudos to you. doing the work needed to understand that there might be something to this which a lot of people have

morgan stanley upgraded it eight or nine days ago, up 7% this week domino's pizza an upgrade from stifeland i mentioned the transports are 2% from a new high that would be very significant if we could get a new high in the dow and s&p and transports at the same time old dominion, another old transport name it's up 9% this week the truckers have done generally very well. the company general electric used to own nbc, is sitting at a five high here here's the problem i have, david. you and i and many of us have a long relationship with general electric the chart only goes back i think to 2000. on a split adjusted basis, david, this stock, it is a five-year high but it is trading where it was in 2008 and where it was in 1997 david, back to you. >> yeah. i'm glad you did that. i think it's educational to put the longer charts up sometimes stocks do not create value over a longer period of time you and i remember when this was one of the largest market cap companies in a world at half a trillion dollars. >> it was number one. >> yeah. >> number one. not anymore. thank you. you're my number one

the guy from stifel, i think, said it. >> in the break, talking about are you sure about that? >> i said what are we not anticipating that will take us back to 3,200? it still could happen. i'm not feeling flush. it is nine stocks. do the rest improve and catch up with the nine or do the nine come back down >> we will see >> let's see the treasury yields you have the erase of the debt ceiling concerns you see interesting moves in treasuries it looks like the 10-year treasury is 3.73%. the 2-year treasury is where you see action and concern about what happens in two years when that is done 4.539% that is a bigger inversion with the 2/10 year. we have been saying for a long time that signals potential recession. hasn't happened yet. >>> let'stalk about a surprise signal in the oil market yesterday's opec meeting the group made no changes to the planned production cuts for the year the big but is saudi arabia announcing further cuts in july. dial back from 10 million barrels per day to 9 million barrels per day. the move was precautionary they previously announced cuts in january

tom: the importance of its people -- of stifel is a midwest field. terrific bloomberg story out this morning on this commercial real estate debacle. forget about this. what does your scenario, above 6%, due to the american housing market, earning -- ownership and rental? >> it will be difficult. this will undermine affordability and valuations. it is a hit to the residential and commercial mark. the bigger risk is the fed loses its resolve in the face of this weakness. as you heard from howell, it will be painful for households continuing to face higher interest rates. the bigger risk is households continue to face an erosion of purchasing power by allowing inflation to become entrenched. it is a short-term pain to get the long-term game for the economy -- again for the economy. tom: can be partial differentiation of goods dis-inflation make up for a sticky of service disinflation? >> it cannot because the consumer shifted back to the pre-pandemic preference for services. during the pandemic, americans were forced to stay inside their homes and were

shares of domino's pizza up 2% on the premarket, $312 per share, due in part to analysts at stifel financialit to a buy rating it was neutral before. they think there is going to be some stabilization in sales and sales growth for its delivery operations and near record approach toward its carry out business domino's pizza a bid there in the premarket trade. and elsewhere in the analyst front, we're watching a duel develop in sofi. they're down 5% right now after getting a nice decent bid yesterday. this morning, analysts at oppenheimer downgraded that stock to a market perform rating from more outperform before that they're citing the valuation because just over the course of the last couple of months, it has doubled in value you see there. they're saying it is a valuation call it is at the upper end of the range now. just yesterday, analysts of btig initiated that stock with an outperform, they think it is one of their top picks, so that duel developing there keep it here we have more "squawk box" after this commercial break. more movers, more everything else we'll see you. (swords clashin

one guy from stifel was confident. i said don't you know about these things no, no, no only i know. he's 30. look where we are now. 4,425. you haven't had one way or the other. you say i buy u.p.s. here or there. you come up with the ideas and you don't have to get involved in the other stuff you have been friendly toward the market overall i would not have been a bear. >> no, definitely not a bear or raging bull. i thought would would stay ifn trading range. i think the reason we are rallying and why yesterday was powerful, joe, is because we are slowly checking the boxes of all of the concerns and we're getting resolution debt ceiling, bank crisis and the fed. with the pause and on the other side with the dot plot going higher and powell kind of being hawkish to some degree because of inflation we got all that. the point is on the fed, you are in the ninth inning. whether they raise one or would more times from here, we don't know in 6 months or 12 months, we are not talking about the fed raising rates. i don't know if we are talking about the fed cutting, but not raising. that is