tech.f we were to get a slowdown, do the evaluations justify buying tech for that defensive? alix: andrea, the reason why we picked luxury and attack is because luxury is seen as the tech of europe. that is where the outperformance was. now analysts are throwing in the towel when it comes to luxury. is that a counterintuitive trend? andrea: it really depends on your time horizon. as we spoke about a week or china, europe has not been as strong as it was. they are all going to weigh on sales. we have the third quarter coming up. all these things indicate it may be disappointing. you've got the deceleration from that super growth to a more normal level, but longer-term, the world is becoming richer. you've got the chinese middle class, india, africa, japan, south korea doing well. these are strong companies, big brand names, high margins, pricing power. you have got a longer-term horizon, that match should other you last. tom: i am wondering if there is a correlation between you being in pari

is tech in trouble? i want to develop that a bit. if it is in trouble, we will see what the market does but if it is, is that good news for europe? because we don't have any and maybe you look to europe and by the value trade or is it you're going to get a broader market effect and that's bad for europe regardless. the gap between the nasdaq and stoxx 600 is pretty extreme right now. that gap is widening out. europe becomes a target -- becomes an underperformer. what happens next i think will be interesting from a european perspective if tech is in trouble is europe gone? alix: is that a bad thing? let's get to it. joining us is michael and eddie. if you sell tech, what do you by? do you by europe? michael: the problem we have is you have an expensive u.s. market with tech starting to come down. if it is in trouble, we don't know if it is. in europe we have a similar issue. europe's response to u.s. debt, it's been the big driver for the markets. now they are coming down. they have the china issue, the e

the company has been developing a tech pods in hawaii since 1979. you know, the size and amount of pipes that you need for your, your cold water and even for your return, your discharge pipeline as well. and the amount of trenching in shore line crossing for commercial scale plants would just be in feasible stand cost for him to as well going off shall, makes it possible to install multiple low tech pons next to each other. similar to offshore wind parks, but currently costs are still more than double the price of the renewables. the tricky construction of the deep sea water pipes, our tunnel from major investors. but before we get into that, let's look at where this technology can be used. the major limits, in fact, is that we need a big temperature difference between the surface and the deep sea water. warm surface water is available all year round in the tropical equitorial zone. so o tech would will bring more renewable energy to tropical islands. many of them still rely on diesel generators. studies even suggest that if you disregard practical

the eu has announced which bi tech in. the eu has announced which big tech firms _ in.tech firms will face tougher rules on how they do business under its digital markets act. tech giants like amazon, apple and mentor will need to comply with rules like making apps into operate with rivals —— meta. and everyone, say cheese! polaroid has released an updated version of its iconic instant camera. some of the key highlights include a continuous focused lens system and lighter accuracy. the camera is said to be available from early september. ifa is full of strange sites, so of course there is the occasional fashion show with... what are those, handbags? no, not handbags. it is a phone. of course it is. this is the honour the purse which is taking wearable tech to the extreme. it is a foldable with screens on the outside, both sides as you can see and it comes with an attachment allowing you to carry it with pride. this is obviously mainly aimed at women plus anyone for whom pockets about a dream or whom pockets about a dream or who likes matching accessories. it comes with

so, oh, tech would, will bring more renewable energy to tropical islands. many of them still rely on the diesel generators. studies even suggest that if you disregard practical and financial pedals, oh tech could power the in high. yeah, well hypothetically. but before i would say i can even produce a fraction of a tow hour if need to overcome major handles that potentially suit and how to calculate price. that being number one today, estimates for a 100 megawatt low tech plants can range from $718000000.00 to $1500000000.00 us dollars. and there is another big on known called water fight and the pipes, the cold water pipe, these days hot plastic pipes up to 3 meters in diameter on no problem before a 100 megawatt plant unique pipes almost 4 times that size and pipes that big hadn't been developed yet, it is complex because the pipe needs to be stable. i'm flexible at the same time to not break apart. when it gets hit by waves or current. it's proven to be so tricky that an indian opec plant never went online because the deep sea water pipe failed . and eve

i'm shiona mccallum and here's the week in tech.for its users. some of the abilities of the a! companion include answering questions based on meetings, as well as summarising key points. the new addition will be available for subscription users of the platform. scientists at bangor university in north wales have developed an energy source that could allow astronauts to live on the moon. the fuel cell, known as the trisofuel, could be used to power a micro nuclear generator. if successful, the technology could springboard further planetary exploration. the moon is dark half of the month, so we can't rely on solar energy, we can't rely on solar pv and things like that — although i imagine they'll be part of the mix — but we need to have that thing for when it's dark, so that's where nuclear comes in. the eu has announced which big tech firms will face tougher rules on how they do business under its digital markets act. tech giants like amazon, apple and meta will need to comply with rules like making apps interoperate with rivals. and

in 1930 lights, the interest and no tech peak. when oil prices exploded during the oil crisis in 1980 us president jimmy carter assigned the law a to ensure the production of $10000.00 megawatts of electricity from low tech in the next 2 decades. the problem is that you need to get that cold, deep sea water up to the surface on show where the heat exchanger has ever had the name of science. well, we have all the less old holds getting to see what's the to the surface. it's done with pipes that i'm more than 2 kilometers long. well, and here's the cost that's taken to that kind of thing. a success. currently, the 2 on shall research plants, one on the island of coolant and japan, with a 100 kilowatts. and the other one in hawaii with a 105 kilowatts french developers, was set to launch a 16 megawatt plans in march scenic in 2020 about the project has reportedly been shelves due to technical difficulties. the other research projects as well. but non last very long. this also means that there is little to no continues energy producti

when it becomes a tech hub for big startups. as we when it becomes a tech hub for big startu ps. as we save when it becomes a tech hub for big startups. as we save the world one broken item either time of the award for the most profound question of the week goes to... it for the most profound question of the week goes to. . ._ the week goes to... it all comes to an exhibition. _ how are you? i'm doing great. just learnin: how are you? i'm doing great. just learning and _ how are you? i'm doing great. just learning and exploring _ how are you? i'm doing great. just learning and exploring the - how are you? i'm doing great. just learning and exploring the world i learning and exploring the world around _ learning and exploring the world around me. how about you? i�*m learning and exploring the world around me. how about you? i'm good, thank ou around me. how about you? i'm good, thank you very — around me. how about you? i'm good, thank you very much. actually, - around me. how about you? i'm good, thank you very much. actually, i - around me. how about you? i'm good, thank you ver

i'm shiona mccallum and here's the week in tech.t for its users. some of the abilities of the a! companion include answering questions based on meetings, as well as summarising key points. the new addition will be available for subscription users of the platform. scientists at bangor university in north wales have developed an energy source that could allow astronauts to live on the moon. the fuel cell, known as the trisofuel, could be used to power a micro nuclear generator. if successful, the technology could springboard further planetary exploration. the moon is dark half of the month, so we can't rely on solar energy, we can't rely on solar pv and things like that — although i imagine they'll be part of the mix — but we need to have that thing for when it's dark, so that's where nuclear comes in. the eu has announced which big tech firms will face tougher rules on how they do business under its digital markets act. tech giants like amazon, apple and meta will need to comply with rules like making apps interoperate with rivals. a

is tech in trouble? anna: tech has been in trouble because of its high valuations.he sky is the limit for tech. what happened today or what we heard today, we should have been anticipating this for a long time. there has been a lot of saber rattling between the u.s. and china over national security and there has been concern about this. it is just when it happens everyone is surprised and hindsight is always 20/20. we cannot assume it is only governmental phones. we also do not know how the u.s. will react. i think the tit for tat will continue. it does not mean apple will he be in trouble forever but it will have to pivot along with their suppliers and other tech companies. this is an example of what may be in-store and that is uncertainty. long-term i do not think tech is in trouble. guy: if tech is not in trouble long-term, is the market not in trouble? if tech is in trouble in the short-term, is the market in trouble? anna: the market is in trouble for the same reasons tech was in trouble and that is high valuations. underneath the fundamentals just do not suppo

but healey, a tech is hoping to catch up within just a few years. if this understanding funds that got you on, we want to manage that seem to 2020 and again, but by the 20 thirty's. we definitely want to be competitive on efficiency and price. other than that, and given the advantages our product provides, we expect that conventional solar cell technology will gradually be replaced by what we're doing here with arrow garrick photovoltaics. our analysts expect that the market for again x solar cells will continue to grow a 2020 of the global organic solar cells market was valued at some $97000000.00 by 2031. it's expected to be $807000000.00 in good part because the film is silver's the tile. it can be applied practically anywhere, like on this bicycle garage, which can charge for e bikes a day. the be all going to of what the panics, photo voltaic can be, easily incorporated into roofing film. so in the future, we'll be able to cover roots with a film that comes ready made with integrated solar cells. these are lots of the products into this for lig

s, the tech hubs. as i said, i've been blown away by -- we have 400 tech hub applications from 48 states. really high-quality applications. so if we do it right, we'll have a whole web all over america with different -- investing in different parts of the supply chain. in space, in quantum, in artificial intelligence, in biotechnology. you know, feeding -- planting seeds of innovation all over the place, which then will help our biggest companies, you know, for example, like a company like intel that will be making these chips, to be that much more successful and innovative. so what we're trying to build is a whole ecosystem of the work force, the research and development and the actual manufacturing. ms. foushee: thank you for that. i'm sure you've heard from many corners now that everyone wishes you just hurry up and get the money out the door. sec. raimondo: that's true. ms. foushee: after ensuring our capacity was a sufficiently urgent national authority to rally bipartisan support to enact the chi

so we're starting to sort through tech. i think we need to not say tech and let that be it but get really, really granular. i know we'll talk about it later but what happened with cisco and splunk is really interesting, and that's saying, okay, you have cisco trading at 13 times being treated as if it's an old school cyclical company but they morphed into subscription-based software company in terms of what component that makes up of their revenues so start thinking more creatively. this is where we've coasted on tech going up and the market going up and able to play indices, but it is important now to be an active manager and make really specific stock bets. >> maybe so, but, jim, the slide broadly in tech is pretty dramatic. you look at the nasdaq is down 4.5% in a week. i said down 200 points, right after powell got off the stage, it's following through today. the nasdaq is down 180. if you're invested in growth, in mega cap, i don't care where you're invested along the growth spectrum, if it's part of that universe, it

the tech is developed by the italian started up. either have you sliding weights or controlled by algorithms during an earthquake sensors on the walls provide data and the buildings migration. and external control system calculates how much the sliding weight on the roof must move. to counteract the vibrations there by minimizing damage to the building. on like earthquakes, which can cause major damage in the blink of an eye. forest by us develop more slowly, but a small smouldering fire can grow into something uncontrollable here. timing is key, especially sensors and a i of the coming crucial when it comes to bottling forest buyers, every 2nd counts. but buyers are not always discovered and reported right away with the right technology. that time lag can be fixed. a number of companies have begun using artificial intelligence that analyze the satellite, images and sensors on the ground checking for smoke or system thermal improvement data that could indicate a fire. and if one is detected, 1st responders receive a notification. we

tech overall, it's really important to -- for tech to hold that august low that it hit back just a few weeks ago. if that doesn't hold, the 200-day would be in sight, which could mean we could have a bit of a mid-single-digit to high single-digit decline from here. we are watching that those august lows hold the entire market to get a sense of how much further this could go. >> yeah. it's a good point you make. one that jonathan krinnski is talking about, too. those august lows of 43, 35, joe, the need to hold that. or you start talking with air pockets. however steep the pocket might be, you need to hold on to some of these technical levels. >> i'm coming back to what i said earlier in the show. i am more concerned looking out over the next nine months than the end of the year. i think we will be able to maintain the prevailing trend. i think we are, obviously, going to have difficulty as you move towards the end of this current quarter. that's for sure. the u.s. dollar by the way is uncomfortably high. i think earnings potentially can give the market the lift needs as we move towards

i have alwa s or is it a tech company? i have always viewed _ or is it a tech company? viewed it _ or is it a tech company? i have always viewed it as _ or is it a tech company? i have always viewed it as a - or is it a tech company? i have always viewed it as a tech - always viewed it as a tech company and i think that's the way you have to value, could the software be used, and i think it's what musk has continued to prove. so wrong on tesla, theyjust view it continued to prove. so wrong on tesla, they just view it as continued to prove. so wrong on tesla, theyjust view it as an auto company, it's an apples to oranges comparison. actually more and more batteries, more self driving ai, i think further away from a traditional auto company. india's prime minister and saudi �*s 7 620 summit over the weekend and current talks seem significant and india's global growing ambitions as a south asian powerhouse. some of the key areas of bilateral talks. also been in discussions of using local currencies instead of us dollars 7 the 2 also discussed, saudi arabia is a member, ind

stay tuned for our tech magazine ship a marion evans team. i'll be back at the top of the hour with more headlines for you. thanks for watching the these places in europe, a smashing step into a bold adventure the treasure map for martin clo to discover some of us regular bragging sites on youtube. and also input the prejudices, stereotypes, to shape, to west the use of africa. how do we change this? adults who may, can meet with congress these creations? together they know the contradictory nature of these euro centric attitudes. and how these beliefs can be changed. stop filming on the 21st on p o w the. what kind of your options both quick forest fires when natural disasters put human lives at stake? every 2nd counts, artificial intelligence, drones, and robots can by valuable time and rescue operations. how technology can help mitigate natural disasters? that's all the topic on the natural disasters cause in all most damage worldwide, and claim countless la as but protecting our sales from them can be tricky. even today is difficult to ac

a tech like this is gaining traction. check it out. this drone can deploy small robots directly on the scene of an accident. europe and japanese cursor project integrates various devices and a network. theme is to make rescue missions run as smoothly as possible. the soft minute tries to underground robotic finder or smart scene here in action is most, this is kind of robot here that is equipped with different kind of where else, like would you be coming to us 2 pieces. we have somebody come over us. and we also have lights on so that we can take this global into a collapse building and search for victims. nowadays, there are even sensors that can detect survivors based on smells in the future. teams of these semi autonomous robots could go deep into collapse buildings and search for people. drones up above can offer support to rescue teams down in the ground. somewhere equipped a 3 d mapping technology. others use radar sensors to locate survivors under rubble and air drops merced exactly where they're needed. another type of drone ca

you should never sell a tech stock on valuation. so for the faangs as long as they have visibility and positive revisions, their multiples can go up far more than most people would like to see. so it could get very uncomfortable. >> yeah, it's true if it does continue like this. all right, tom warren, appreciate it, great conversation, thanks very much. we'll see you again soon. >>> let's now get to our question of the day. we want to know, are you more bullish or bearish after this morning's jobs report. head to @cnbcclosing bell on x. >>> let's get a check on some top stocks to watch. kristina partsinevelos here with those. >> shares of mongodb are higher after more than doubling earnings estimates on revenue that also blew past expectations. the database software giant also issued strong third quarter earnings as well as revenue guidance, and the company tied to various investments in, what else, ai, though it also warned that growth in its atlas service would be impacted by the, quote, difficult macro environment throughout the

those big tech companies have. we seen china of course, that this is something that the government does recognize and is not only able but willing, willing ad. ready to take action to prevent this kind of over concentration. how about within each of these countries? um, domestically let's just take the us as one example. there is great concern that the rapid pace at which a, i couldn't make jobs such as customer service call centers, obsolete. how do you view the anticipated tech takeover of these types of jobs? it is the fear warranted and should us lawmakers actually intervene? so certainly the impact of any major technological breakthrough on employment is an important topic. we can look at electricity. uh that put many people out of jobs. uh the internet is to be touched on earlier. also had a dramatic impact not only in well distribution, but unemployment as well. so similarly, i think a, i a is expected by many to have a profoundly disruptive impact on white collar jobs that traditionally saw to be se account

we start with that seemingly unstoppable tech run. despite a flat finish today it was a big week for the nasdaq as the group leads the market out of the summer doll drums and into what could be a summer to remember. apple breaking out. google hitting 52-week highs and nvidia up 230% for the year. can the technololg cal advances keep up the momentum? carter, over to you. >> before we get to the charts of course, it's so many ways if you will to look at tech, right? the xlk is the actual tech sock to have mirroring the standard and poor's sector. if one looks at the qs, microsoft and apple have a different weighting versus what they have in the xlk. expands software tech etf where there is no apple. apple underperforms almost 11 months, the tech sector, which is an incredible thing. let's look at a few charts to try to figure it out together. here, a table to make the point. expanded tech software, over the past four months up 23%. qqq and xlk meaningfully behind. that's a function of the wa weightings. biggest weighting is adobe. under

so it's no wonder that the tech wars or tech race between the super powers have reached the levels that it has even to the point that experts in the industry find chilly or calling on law makers to rein it in. so joining us to discuss is and the mock he is a senior research fellow at the center for china and globalization. you can follow and the on twitter app and the mock that's m okay. andy lock at twitter. all right, andy, thank you so much for joining us. so 1st, can you give us an overview of china? is new draft legislation on a, i mean, what are the main principles of it? how might you compare or perhaps contrast china getting ahead of this kind of tech as compared to the us approach? that's such an important question. manila, i think to understand this, we need to 1st understand china is legal system in general. so the us talks a lot about separation of powers which really separates political power vertically. but in the us, a political towers also fragmented part of thoughts as well. meaning that there are certain things that can be done at the national level that may not transl

this will be a tech fix for a tech problem., let's get it right by optimizing for the right things. things that are good for kids, good for society, good for democracy. ed: frank mccourt, jr., terrific conversation. next, we will discuss the health of the boston startup ecosystem. "bloomberg technology." this is"bloomberg technology." "bloomberg technology." ♪ when you automate sales tax with avalara, you don't have to worry about things like changing tax rates or filing returns. avalarahhh ahhh ed: it is good to be on the east coast. i know where i am. new york city reunited with caroline. we will be looking at the boston startup ecosystem in full swing. who better to talk to than lily lyman? i want to go straight to klaviyo. potentially a big ipo. a tech company from your neck of the woods this week. how excited to get people in your community in boston? >> thanks for having me. we are very excited about the klaviyo ipo. i think in part because it is the type of company that gets built here in boston. it is a great team, huge

tech and luxury tumult. so tech and luxury stocks were the superstars in the u.s. and europe and now they cannot find their footing. we're going to see if it's time to buy. and my confidence level is, i don't know, we're going to see. the latest read with instant analysis from dana peterson, chief economist & center leader of economy, strategy & finance at the conference board. and all the buzz from oklahoma city. triple-digit oil price, politics, supply, china, all the hot topics from the american energy security summit in oklahoma. more with my exclusive interview with rick muncrief. from new york, i'm alix steele with my co-host in london, tom mckenzie. so i came from my time the oil patch in oklahoma city. guy's going to his fun time which is on airplane show. so you're right in the middle of that for us, tom. tom: we have the consumer confidence and now we get into some reaction as well. the estimates have been for 105. so they're softening in terms of consumer confidence. you have views on this. i know. and again, the question around that buffer for how olds

if i look at tech, we all worry about tech valuations. have a company that is growing their earnings at 10, 12, 20%, you know, versus the s&p 500 that is maybe growing the earnings at, you know, 5 to 10%, of course i'm going to pay higher multiple for the higher growth company. >> you're not worried about the fact that that earnings growth and the very companies you're talking about has been coming in not going up. >> that was the case earlier this year, that was the case in 2022, but when i look at earnings revisions now, they're actually trending up versus down, that's true for technology. that's true for cyclicals, and what happened is if you look at consensus gdp forecast for this quarter, it was virtually, you know, 0.5%, 1%, it's moved higher to 2%, but it's still -- there's still this delta between the now -- at 5.6%. the reason i bring that up is because as analysts have been behind the kcurve, they're now having to revise the equity analysts are having to revive their earnings estimates higher. >> you think the makeup of the mark

to be sure the tech isn't perfect. the cars aren't always waiting where they're supposed to, and they have a habit of stopping when they get confused. walk in traffic. i don't know why there's one thing for regular drivers to be inconvenienced at quite another for emergency services to be effected. like when one of the cars crushed into a fire, residents had been divided on whether driverless vehicle should be allowed to. i called passengers for a fee 247 instead of just test riders within a limited time window. as for the companies, they say the cars will lead to fewer accidents. robo operators, like huevo and cruise argue that eliminating human drivers from the equation mix passenger transport much safer because drivers can get drunk, tired or distracted while driving. the california public utilities commission for hours and hours of public comment. urging it to either vote for or against pick up robo taxi vehicles. i take will tell me that this not the end. it came way low increase the green lights, and opponents ar

we have seen tech companies — anything. we have seen tech companies fail _ anything.g. we have seen tech companies fail to prioritise i companies fail to prioritise children's safety. they have taken other strategies that consistently overlook the risk that children might be put in. we have had huge numbers of online grooming cases rise as a result of that.— rise as a result of that. thank you very much — rise as a result of that. thank you very much indeed. _ hello. there'll be some brighter skies this week, but yesterday we saw a month's worth of rainfall in the space of six hours in parts of devon and somerset, overnight in the space of an hour near swindon. and you can see from our rainfall accumulation chart for the week, all of us will see yet further rain, bright colours in the cumbrian fells, the west highlands, where we could see over 100 millimetres of rain fall before we get to friday, all being driven by these areas of cloud working its way in, pushed towards us by a deep area of low pressure to the south of iceland. but that will help drive away the cloud

>> i think tech will be okay. tech is fighting against higher interest rates, right?erm interest rates push higher as the bank of japan moves away from zero interest rates. oil, having upward pressure, puts upward pressure, and even rates. so tech i don't think will be the top performing sector, but you still have to own it. it's fighting against the economy, because tech is very much traded with the economy year to date, surprisingly. over the near term, it's fighting against the higher rates. ultimately, rates will be lower at year end than they are today, but it's going to take several months to get there, and perhaps even lower oil prices ultimately. >> two more questions. so maybe i'll make a comment. the underperformance of the home builders today is striking. i don't know what is going on with that, maybe it's interest rates. and number two, consumer staples. in this environment, as nancy and others have warned, would they lose pricing powers and be -- they're down 3% so far in the second half of this year, so would either of those home builder staples attract

ed: time for talking tech.ce x has been ordered to make fixes after its starship rocket blew up. the faa blamed multiple root causes of the test launch and said the company needs to redesign his hardware to prevent leaks and fires. plus china has unveiled an artificial intelligence tool to is for wealth management and insurance. it will use its financial llm -- for financial professionals. some lawmakers are acting to curb the power of a irobot bosses in the workplace. this comes as companies rely on ai tools to measure employees's productivity and in some instances fire them. caroline: from the lens of who is powering it, google's ceo is one of them. we know he is not shy about his wealth and has been not shy about his outward it he is using his $27 billion fortune to help build a powerful ai influence machine. we will bring in edgerton who joins us for a deep dive. should we be surprised of eric schmidt's political influence? view was on the 2008 obama campaign. he has been someone that is always invested in

we start with the unseemingly unstoppable tech run.te a flat finish today it was a big week for the nasdaq. as the group leads the market out of the summer doldrums into what could be a september to remember. apple breaking out. google hitting 52-week highs and nvidia continuing its monster run, up 230% for the year. can the technological advances keep up the momentum? carter is kicking us off with a look at the moves. carter, over to you. >> before we get to the charts, of course, it's so many ways to look at tech. the xlk is the actual tech sector mirroring the standard sector. if one looks at the q's, microsoft and apple have a different weighting versus what they have in the xlk. or if you look at software, there's igv, an expanded software tech etf. where there is no apple. and apple has underperformed for almost 11 months, the tech sector. which is an incredible thing. let's look at a few charts and try to figure it out together. a table to make the point. igv, the shares expanded tech software over the past four months up 23 plu

over some of the tech giants.k about it. let's put something real on the table instead of everybody agrees that we need safety and innovation. >> reporter: now, republican senator josh hawley on the opposite side of the spectrum from elizabeth warren, he took issue that the meeting was happening today, that it was a big tech cocktail party. those were his words. most senators were satisfied that the forum at least took place. senator stabenow told me this was a moment of history, similar to what elon musk said. i will tell you, topics that didn't come up, for example, china and the u.s. competitor, of course they are filing in back behind me after a lunch break, and we'll see the discussions that continue. >> julie tsirkin, thank you for that. appreciate it. ahead in our next hour, the stunning conclusion to the man hunt that's haunted a pennsylvania community. how police finally captured the convicted murderer two weeks after his escape. you're watching "chris jansing reports" only on msnbc. nal nervs in your han

>> with tech hub. let me say something on the tech hub initiative. i have never seen anything like this that is oversubscribed. we are appropriated $500 million. we have received over 400 applications. we are massively, massively oversubscribed 400 applications from 48 states and three territories. we are going through the applications. we are required by statute to designate at least 20. that means 380 disappointed places. and i can tell you these are incredibly high quality applications. so i suppose that is my way of saying i think at some point we should appropriate more money for this. got 500 million. and this is what we are seeing to compete with try to invest in america. all of the technology in all of our communities. so re- compete is for really distressed places. tech hub not so much for it honestly do want to find places that are really good at some technology. we can take them from good to great. so i do not want you to think this is poor distressed communities. that being said it's not just for big companies. the next generation. i don'

you have doubts around the tech story. like the tsmc indicating that there may be weaker chip demand. these two things combined are sending shivers through the tech sector. >> sure, but also to your point, rates haven't really moved much higher than where they were two weeks ago, three weeks ago. we're 4 1/4, 4 1/4. but the distribution in tech is more than a month all. the leading stock down more than 14% from its peak and apple continues to struggle. we're coming up on the one-year anniversary of apple's relative performance peak to its sector. the number one stock has been an alpha negative proposition for a year. >> i guess -- and this is an interesting debate. ultimately i think yields -- i don't know if they're going to go a lot higher, but i feel like we're bumping up against a key level and i see dynamics on inflation that aren't getting better. i think ultimately i think there's a limit to how high things can go. but i think there are technical factors at work here. i see a dollar that continues to break higher. i

you are a tech analyst but have further in the auto industry which becomes a tech sector -- but you havento the auto industry which becomes a tech sector. the auto industry union was a 46% increase in pay for an industry losing billions of dollars going into electric vehicles. dan: it is a nightmare scenario. i was in detroit if you weeks ago trying to get a pulse in the 313 area code and everything is riding on electric vehicles from gm to ford. get past september 14 and the strike happens? it starts to push some plans. that is the worry here especially with tesla and nvidia and others going after ev. i hope this is a bark is worse than the bites because this is a pivotal year. for borrowing gm and ford. matt: everyone seems to want to cash in on the customer with hummers and escalate iq. is anyone going to make money on the affordable easy? -- affordable ev? dan: that is why next or tesla comes out with a some $40,000 vehicle because of battery costs and scale and scope. over the long-term term, this is an ev green title, the biggest transfer to auto ev versus the model -- since the mo

as a result of that, pure growth went from being 37% tech to only 13% tech and energy became the most dominant sector. russell didn't do their rebalancing until the end of june at which point energy didn't have those growth characteristics. so it basically stayed with a heavy bias toward technology. so, we can talk about energy and tech and being these strange bedfellows, sometimes at the opposite end of the spectrum. but the message is make sure you understand what is in the indexes. >> yeah, good advice. last word to you, nicole. on energy, since we're talking about it, we have been talking about it a lot this week, it has been the only sector to talk about that has been in the green, how do you see that and then we're going to go? >> we see it playing out well into the end of the year. we see it as a laggard and from a relative valuation standpoint, we expect to see trimming across the megatech games. we look at where the money is likely to be repositioned, we think there is going to be fear of missing out, this idea if you believed in the risk off mentality heading into 2023, not