the economy. she is their north american economist. coming up, home depot earnings beat estimates despite a pullback in us homebuilder sentiment. john and i were talking about that at the top. we'll explore it more in the next block. this is bloomberg. you know that tech stock we talked about picked up 500 shares. you get in at a good price. oh, yeah. schwab saved you. how much with schwab order execution advantage, you get price improvement on 96% of orders and commission free online trades. i'll take care of this. are you getting complete price transparency? expect more from your firm. schwab the better place for traders. mana has hundreds of thousands of five star reviews and counting. this was our second purchase through carvana. it was really fast this time. we traded in a car and next thing i know our new car was here. our trade in was gone. ta da! buy your car with carvana today. fabulous surroundings, but everyone's looking at their phones for financial insights from merrill. is he hailing a ride to the concert hall? no, he's making sure his portfol

let's with the big week with big-box retail front and center. home depot, target, tjx have surpassed the market. what are you seeing and what name? >> let's drill down on home depot. walmart has a new. so does tjx. in itself, it is down 22% from the high whereas the s&p is down only 7%. is a three identical charts. no drawings and no lines and no judgment. let's put one in. what do we have? have converging trendlines and strength that is enough to move up and out of the apex formation. another way to annotate it, the third and final chart, it follows for the want to call it a cup and handle or double bottom, it is that the element and definition of a turn and one wants to belong on home depot and walmart is back at that former high, and so is tjx. something like home depot has room to run. >> that is an interesting chart. how you setting up on home depot ahead of tuesday's report? it is one f the early once we get early in the morning on tuesday before we hear from the others. >> i think we should look at home depot and little bit separately that we might

the others. >> yeah. i mean, i think we should look at home depot maybe a little bit separately than some of the other bigox retailers. a couple interesting things about home depot right now first of all, trading at a discount to the historical valuation. not huge, but about 6% 21 times versus 23 times is probably the average multiple for this one there is something else that's kind of interesting. so the reason why we look at home depot and it's often considered more attractive than lowe's is because of their professional customers so about 40% of their sales come from professional customers like contractors. why that's interesting to me is that if we take a look at home builders, the first two of up about 38% on the year to date home depot is up only marginally year to date yet 40% of their sales come from contractors. i find that rather interesting and that's significant underperformance and so to me looking at a name that probably moves about 6% on average in month following earnings, i think you want to play that to the upside. a little bit of a move off the bottom here that we saw in may, and of cou

what's the kind of the macro read on the consumer from home depot? i think that there are several takeaways. first of all, in general, we think that the home owner does remain in better than feared position. they are continuing to spend, certainly there's a moderation. but the there is a lot of resilience and we think that that's going to continue. some of the top factors that we do monitor to see if there's going to be a slowdown over the medium term, include the employment framework as well as home values, which do remain quite elevated. and we haven't really seen much of a give back yet. and then furthermore, more just that mix of spend between goods and services, services has certainly picked up over the last several quarters and that's going to be the third top factor, which we think that as long as services doesn't come back all the way to 2019 levels, we think that spend at home depot as well as on the home improvement sector will continue to be resilient. so part of what they highlighted, max, was obviously the diy stuff versus a really big pu

their existing home that's the counter cyclical part and it works out for them really well people are doing big renovation projects or buying new homes, the contractor trade that home depot plays in is the stronger part of the business i think it's a defensible business almost no matter what the economy does, and i agree with her the stock is a buy here. >> joe, you have dr horton and lennar in the t. >> home depot is re-establishing the momentum it looks very interesting. i agree with everything stephanie and josh said. there's nothing there to lead someone to believe these consumer facing businesses are losing pricing power and that's been the narrative that they're going to lose the pricing power. on the home builders, look, in october, the strategy went into dr horton quite candidly if the strategy was not systemic if it was not nondiscretionary, the rules-based nature of it led us into owning the home builders because logically at the time you would have looked at it and intuitively said, no, not the right place to be moving forward. it's been the exact right place to be. and to josh's point, new home builders have the advantage. no one wants to walk into a house ri

in april, home depot guard blake mohs was shot and killed after confronting an alleged shoplifter at the pleasanton home depot. >>> san francisco's looking to punish a tow service accused of illegally hauling away cars. this is video showing that alleged practice. city attorney david chiu says it's the work of a company called auto towing in hunter's point. he says the company illegally set up signs at the bank of the west parking lot in the city and towed at least six cars. not only that, he says the company made it harder for owners to get their cars back. victims were sent to a different towing service, pressured to pay cash, and allegedly were told they could only get their cars on weekdays. >> vehicle owners have the right to retrieve their vehicles 24 hours a day, any day of the week. so if you're told that you have to come back in the morning or you have to come back on a weekday, that is not state law. >> the company is also accused of targeting people who are not native english speakers. chui's move would block the towing company from being awarded city contracts. he said anyone

key question is can the home improvement chain reverse the downward trend after missing revenue estimates last quarter which was the first back-to-back decline since 2019 home depot the largest earnings rating since amazon in the s&p 500. let's bring in michael baker at d.a. davidson. he covers home depot and other stocks like it michael, home depot's concern the last few quarters is falling lumber and profit margins. what is key for you today? >> we think what we will hear is a down quarter report in about 20 minutes less down than last quarter and not getting worse. we think it is okay right now for home depot and lowe's. it is not getting worse. expectations are low it is not a bad set up in earnings. >> if it is a good set up, is this a stock or company that can benefit -- there's been a huge macro question about whether or not we're seeing a trough process in the housing market or if we see activity does home depot or lowe's b benefit right now if we see the housing market get better? >> they will they are not benefitting yet, but they are getting close the number we look at is year over year change in home prices. that has been down four months in a row tha

the estimate. this is a double beat for home depot. re getting taken to the numbers, but the company basically saying that they remain positive on medium to long-term as far as the outlook for home-improvement. they do say that overall there has been some pressure in big-ticket discretionary categories in the second quarter. we'll get a dig into these numbers in a moment. it looks like sales for the fiscal year down to - 5% which is in line with the expectations again, this is a dow component. home depot will get a dig into the numbers a little more coming up in just about ten minutes from now. $15 billion share repurchase authorization from home depot. i'll go to the guidance of the commercial break. we are going to go onto the big story we are following this morning. grand jury and fulton county georgia indicting former president donald trump, and 18 of his allies late last night on 41 total criminal counts in the 2020 election case, this is a four-time the president has been indicted and the second time this month he's been charged w

today, customers at the busy home depot store reacted to the shooting. >> it's unfortunate, but nowadays, if you stop somebody who's stealing, you have to be careful of yourself, of your well-being. even if you help people. someone just can pull out a gun and shoot you. >> it's crazy right now. you hear of shootings everywhere. >> reporter: in april, security guard blake mohs was shot and killed after confronting an alleged shoplifter at a pleasanton home depot. that suspect is awaiting trial on murder charges. in san carlos, deputies say shop lifting has been a growing issue. >> home depot felt it necessary to hire a security guard who is armed. >> reporter: we reached out to home depot, who referred us back to law enforcement. customers we spoke with today said they're likely to be much more aware of their surroundings while shopping at the store now. fortunately, there was a sheriff's deputy in the parking lot last night who quickly intervened, arresting the suspect and providing first aid. >> that's a scary thing. thank you, marianne. >>> tensions continue to rise in the south bay. 4

in april, a security guard at the home depot in pleasanton was shot and killed by a suspect during a struggle. benicia naps the woman accused of shooting the guard has been charged with murder. home depot shoppers we spoke to say the guards are put in a difficult position. it's a sad situation. what's going on here ? no law and order. you know, if you don't have laws, it's survival of the fittest. you want to go back to that? i don't. these guards aren't allowed to grab these people usually. right so why wouldn't you even walk up if you're if you're not allowed to do anything, why would you even walk up on somebody? i mean, let them take their stuff and let them go? now, the security guard here at the san carlos home depot has not been accused of a crime pending a review of this incident by the san mateo county da's office live in san carlos, henry lee, ktvu fox two news. all right, henry, thank you for that. and this is the latest violent confrontation between a security guard and a shoplifter or a lead shoplift are some of the most notable incidents, as henry just reported in april.

a couple weeks ago in april, a security guard at the home depot in pleasanton was shot and killed by a suspect during a struggle. benicia naps the woman accused of shooting the guard has been charged with murder. home depot shoppers we spoke to say the guards are put in a difficult position. it's a sad situation. what's going on here ? no law and order. you know, if you don't have laws, it's survival of the fittest. you want to go back to that? i don't. these guards aren't allowed to grab these people usually. right so why wouldn't you even walk up if you're if you're not allowed to do anything, why would you even walk up on somebody? i mean, let them take their stuff and let them go? the security guard in san carlos has not been accused of a crime pending a review of this case by the san mateo county da's office in san carlos. henry lee, ktvu, fox two news. a man has been arrested accused of robbing a bank in berkeley. police say 57 year old alden moore slipped a teller a note demanding cash at the mechanic's bank on shattuck avenue yesterday afternoon. officers say he has previously

, very early in the morning on tuesday before we hear from the others. >> yeah, i mean, i think we should look at home depotand maybe a little bit separately than we might look at some of the other big box retailers, couple interesting things about home depot as it stands. it's trading discount to historical valuation, not a huge discount but about 6%, 21 times versus 23 times is probably the average, multiple there are this one. there is something else that's kind of interesting, so the reason we look at home depot and it's often considered more attractive than lowe's, 40% of their sales come from professional customers, like contractors. why that's interesting to me is that if we take a look at home builders, the first two are up about 38% on the year to date, toll is up about 6%. home depot is up marginally. 40% of their sales come from contractors, i find that interesting, that's significant underperformance and so, to me, looking at a name that probably moves about 6% on average in the month following earnings, i think you want to play that to the upside. now, it has had a little bit of a move off the

the underlining tone from home depot in this release is very much what we heard the past couple quarters. we are muddling through 2023 with eyes on 2024 and 2025 when with the expectation is the home improvement trends solidify and begin to improve again >> courtney, you looked at this closely. >> brian, what i'm interested in is why do you think they reaffirmed full year guidance when they beat the quarter by 20 cents. what does that suggest >> remember, home depot lowered guidance after the furs qirst qr which is a rare move we will hear on the conference call at 9:00 the factor behind the choppiness is weather weather disrupted q1 my sense is on q2, there were weather disruption, but not as severe as q1 there is a lot of year left. q3 and q4. home depot knows how to manage expectations well. there is no benefit for them given the ongoing weather and macro concerns for them to lift guidance the idea is get through 2023 relatively unscathed and play for 2024 it is our expectation that you should see the resumption of expansion within the home improvement space. >> 2% comp sales was less

the key is retailers growing traffic. home depoting in confidence next year to be up for them. really focusing on retailers gain share and winning kufrlt mers the ones you want. walmart number one next week on that front. >> greg, thank you go back down to michael santoli. two and a half minutes to the close. a weird week for tech. i didn't know apple was allowed to go down it's actually down a lot meantime oil stocks, xlp up. seven days in a row now. just like a meaningful shift or part-time if a phenomena? >> cooling off of biggest stocks biggest down 10.1% nvidia from s&p 500 on a weekly basis. rotation, certainly energy a little pharma and health care there. combination of defensive and cyclical cat a big upside contributor home depot as well this week seems as if an attempt for another rotation slippage in the gears there. energy's 4.5% of the s&p tech's 27 or something like that it can't be a one for one type of thing but one of the ways the market is able to keep itself supported, and i guess keep volatility somewhat suppress

video shows the home depot security guards confronting the vendor in a parking lot. the gardens threatened to arrest the man if he didn't leave and appeared to kick over his strawberries then called the police. dozens showed up to support the vendor. organizers are disappointed this is the latest of a string of incidents where vendors are attacked. >> it has been a lot of things have been happening. around with the vendors. so we just want to let the world know. spread awareness that we are here to help. that's what the world needs. support. i'm so excited we made it happen for him today. >> home depot say it is two men in the video no longer work for the company. >>> might be the biggest week of the year for bay area film buffs. the cinequest festival kicks off. it will feature 253 films. 82 of which are u.s. or world premier. cofounder says it is all about discovering great artists who influence how movies are made or experienced and they want to add in some fun like the party. >> we got to bring the joyful energized theme to people. they had a lot of things to dea

only at the home depot. >>> we are machinonitoring the breaking news outside of fulton county there.mp's co-defendants are beginning to report to jail to be processed. president trump has said he is set to surrender himself to do that on thursday. the day after the first republican primary presidential debate. and it is official, that's happening in georgia, eight campaigns are headed to milwaukee to kick off the first presidential primary debate. the capped dates who met the rnc requirements are these eight. the offutt used and probably overused phrase, make or break, applies to this meeting for all of them. the debates are hard enough. an additional complicating factor is that they won't be facing off with donald trump. he is choosing to skip the big night. steve, what are you hearing from the candidates on how they are preparing? >> one of the things we hear from a lot of the candidates is they are criticizing donald trump for his decision not to show up. that's something we heard from desantis, who has been hammering trump in recent days. listen to what he said over the weekend a

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. >>> the home depot security guard shot a suspected shoplifter in san carlos. the sheriff's office said the two of them got into a physical confrontation and struggled over the guards baton. the suspect through it through the window and that is when deputies say the guard shot him. both were taken to the hospital. >>> a live look across the bay. this morning we are seeing widespread fog and low clouds. you can expect a cool down before the weekend. >>> it is cool and cloudy along the coastline today. that is kind of have been the case all week long. the 60 today along the coastline and we will see the clouds roll in. the marine layer is holding on tight to the coast especially in the morning where we see a little drizzle. daytime highs today are below average near pacifica sitting at 63 degrees . we warm up fast in the east inland hills, 80s antioch , fairfield and into the santa clara valley. that is below average in certain pockets throughout the santa clara valley . we are about 7 degrees below average along the coastline. we are seeing around average pitcher

gives me insight into where people are with their most prized asset. >> home depot expects this to be a year of moderation the market seems to be thinking, well, even so, home depot could still be a winner here. >> they definitely could be. i think at this point we are seeing a bit of a shift in leadership we saw energy outperform this week, the last couple of days particularly we talked about in terms of nvidia and whether or not you will see growth out of there as you start to see a bit of broadening out breadth in the market and leadership changes those will be economically sensitive topics i think we are going to see -- need to see the numbers, ppi today, come out and support the narrative that is leading us higher. >> good point. energy was the leading sector today. when we are looking at retailers next week, the most recent quarter just reported they sort of had fairly decent reports, but a lot of caution, if not concern about what they would report this quarter and going forward, and everyone wants to he know is the consumer yakkcracking >> household debt is not changing because income are higher becau

only at the home depot. [ cheers and applause ] ♪ >> jimmy: hi, there. welcome back to the show.ticipated "history of the world part 2" on hulu, ike barinholtz is with us. [ cheers and applause ] who's here tomorrow night? tomorrow night, we'll be joined by jon favreau and nicole byer, with music from tove lo. please join us for that. [ cheers and applause ] almost 40 years ago, our first guest left the warmth of her native birmingham, alabama, to follow her dreams on the mean streets of hollywood. yesterday she received a star on the hollywood walk of fame, and she returns to the role of death-dodging reporter gale weathers in "scream 6." it opens in theaters march 10th. please welcome courteney cox! [ cheers and applause ] ♪ >> jimmy: how are you? congratulations, by the way. >> thank you. >> jimmy: that's pretty exciting, to get your star on the hollywood walk of fame. i can't believe you didn't have it already. >> i don't know, it was really exciting. i didn't even know how big of a deal it was until i got there and this one reporter said to me, "how does it feel that you hav

only at the home depot. e. welcome back to the show. tonight, his residency at dolby live at park mgm in las vegas starts in july. usher is with us. [ cheers and applause ] then later, from washington d.c., her song is called "pressure," the very talented ari lennox from the mercedes-benz stage. [ cheers and applause ] tomorrow night, let's see, who will be here? from "american idol," luke bryan, katy perry, and lionel richie, plus pamela adlon and music from banks. please join us for that. [ cheers and applause ] our first guest wears many hats and many wigs. he is a writer, director, producer, and actor who dons the floral dress again in "tyler perry's a madea homecoming." it premieres friday on netflix. please welcome tyler perry. [ cheers and applause ] ♪ >> jimmy: you look good. >> i'm good, thank you, how are you? >> jimmy: i like that jacket, it looks sharp. >> thank you very much. i try. >> jimmy: i'm doing well. not as well as you, of course. last time you were here, i don't know if you remember, it

monday night, another one of vera's guards shot and wounded robbery suspect jonathan mackie at the home depot in san carlos. it is a huge responsibility when you put a gun in a person's hand to expect them to respond. perfect every time, vera says he can't discuss specifics of the brown case, but says he's saddened by her death. it was an absolute tragedy for a loss of life. san francisco da brooke jenkins has declined to charge the guard who killed her, but the guard, michael earl, wayne, anthony has since left the industry. he's also been fined $1,500 by the state's bureau of security and investigative services, not for killing brown, but for carrying a concealed weapon without a permit. and for not wearing a required badge. identifying him as a guard. vera says it was up to the guard to follow the regulations. but he says the state needs to allow guards to use less lethal weapons other than tasers, which require you to be close to the suspect. a secondary protocol to go to that would be most effective before they reach for their weapon in the home depot incident, authorities say the guard

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the goal of this tour is to help build resilience and strengthen emergency preparedness worldwide. there's been another confrontation between a home depotused shoplifter. it happened late monday night in san carlos, just as the home depot is about to close the security guard tried to stop suspected shoplifter jonathan mackey. the guard says mackey took the guard's security baton and hit him over the head with it. the guard says that's when he fired two shots hitting mackey. once a san mateo county sheriff's deputy, heard the shots, arrested. mackey, who went to the hospital. shoppers in the store say they sympathize with the security guards. it's a sad situation. what's going on here. no law and order. you know, if you don't have laws, it's survival of the fittest. you want to go back to that? i don't. these guards aren't allowed to grab these people usually. right. so why wouldn't you even walk up if you're if you're not allowed to do anything, why would you even walk up on somebody? i mean, let them take their stuff and let them go? mackey faces charges of assault with a deadly weapon. he has previously been convicted of petty theft.

home depot? what have you learned from the numbers this morning? yeah, so home depot had a modest beat, same store sales down 2%. expectations were for a decline of about 4%. i mean, this was pretty much in line with what we were expecting. there's been some noise quarter to quarter with lumber and weather. the key takeaway is that they reaffirmed their full year guidance, calling for a decline of 2 to 5%, which includes a backdrop of the broader home improvement market, falling 5 to 10%. so you know, they reaffirmed this back at their investor day a couple of months ago. so not a whole lot of new news from this release. they did confirm that there's still caution among consumers and that big ticket discretionary projects are still under a little bit of pressure. forget big tech, one of the stories of the year in the equity market has been this rip roaring rally in the homebuilders drew. lisa, when were just talking about how frozen this housing market is in america, drew, can you put some numbers on that? just how frozen are things at the moment? y

let him go without punishment, but you don't want to get killed. >> this is the latest of a series of incidents at home depot's april a worker was shot and killed after trying to shopping -- stop a robbery. a year before that a man started a fire that burned down the san jose home depot to distract workers while he stole tools. home depot shoppers hope this latest robbery attempt leaves -- leads to change. >> improve the laws. we help people that need help. we help the poor that are poor. we need to work together. ama: bay area has been accused of drugging and assaulting patients and recording the assaults. and there is a search for more victims. the 33-year-old was in a new york courtroom yesterday where he was charged with 50 new accounts including rape, sex abuse, assault, misdemeanor drug possession and unlawful surveillance. it's based on his encounters with six women, including haitians p prosecutors say there are videos of assault involving at least ask others unidentified women in hotels or homes in new york, las vegas, san francisco and thailand. in the bay area he completed his residency at californi

. >> affected peninsula is shot by a security guard inside the home depot store. oh county road n's carl's. investigators say the gunfire happened after the suspect attacked a security guard with the guards on baton. >> the sheriff's office walks us through what happened. >> doors are open less than adapter shooting sent two people to the hospital. >> i hope i don't get shot. you get up in the morning and hope everything is going to be fine. >> it's terrible for both of them. >> the san mateo county sheriff's office had a man attempted to steal from the store when a security guard stopped him. the say the shoplifter grabbed the guard's baton and started hitting him. the guard pulled out his gun and shot him. >> the suspect took the security guards baton, struck the security guard in the head and face area. the security guard then discharge two rounds. >> two rounds -- rounds fired just around the time the store was closing. >>

this isn't the first shooting involving a bay area home depot security guard. in april, home depot guard blake mohs was shot and killed after confronting an alleged shoplifter at the pleasanton store. >>> looks like the strike is on. the san jose city council met today to discuss the looming strike of thousands of city workers. about 4,500 city workers plan to strike next tuesday, wednesday, and thursday. workers from the airport, libraries, the planning department, animal shelters, and happy hollow park and zoo joined in solidarity outside city hall. ahead of the south bay later council saying the mayor isn't doing enough to avert a strike. >> you cannot generate revenue without a functioning planning department. you cannot keep libraries and parks open without employees. you cannot keep people safe without sufficient emergency personnel. >> the numbers are what they are. and now we're at a point where we're saying, we can do a 5% raise, 3% additional weeks of paid parental leave. if we want to go farthere going to have to identifycuts. those are not going to b

home depot a lot on cnbc that's a name. again, home depot is a great company, right they manage that business extra oe ordi ordinarily well. thet we're making here, one cross current is this disinflationary trend. what this means is less inflation for home depot to pass on the company talks about this they make great points one of which is innovation the products that home depot sells become more innovative when you buy whatever you buy, it is technologically driven high price point you have the disinflationary trend. that is a negative for sales growth >> brian nagel, thank you. >> thank you have a good week. >>> let's get a check of the top corporate stories with pippa stevens. >> i'm back, dom california regulators voted to allow self-driving car company owned by gm and waymo to add more cars to san francisco streets and charge passengers for rides at all times the approval of the vote which was delayed twice marks a win for the company to expand statewide and other cities across the u.s >>> president biden calling china a ticking time bomb to the world. biden adding that china's problems are not good because when bad folks

sweden's campus along monday was detained during the incident on like this to activists, to set the home depot blaze. that's what it shows. 2 men confirmed to be of a rocky origin burning the book outside the swedish parliament saying they were criticising as long as the police stood by and watch them without taking any action . while another person tried to break through the police called him, but was wrestled down in the rest of the scene as if it's not wanting to make a organizing car without the caron desecration with his friend. fetching the most compelling, the book on fire, playing football and even polishing his shoes with us without showing not positive associates to avoid offending all viewers. now it's the latest in a series of such incidents and recent minds went on to as lots of as some things the corolla protests found. the way to muslims has taken place across the walls in response to these events. students to announce the accents in different. so police so sorry, sees prolonged learning supplemented in sweden under free speech. last me one person has issued warnings if possible

home depot? >> not yet what warren buffett is doing with the home builders, what home depot is doing about better-than-expected- same store numbers. retail sales number we got this morning which includes autos, if i choose autos i've got a strong number what's going to be difficult is we're going to have the -- the fed at 5.5 the 20-year at 5.75. that's my prediction >> sometimes silence is nice, don't you think, carl? >> refreshing. a reflection on the desk. >> -- >> -- what i'm really worried about is china >> now we come back to what i said i give you an answer and then i get -- now you come back -- >> what do you do? you suspend -- hey, the numbers are really bad let's just get rid of the numbers. we do this for the cpi in 1982 we decide to take housing out of the cpi, homes out of the cpi which is ridiculous. if we had homes in the cpi now, it would be red hot. >> although we do owner equivalent where we ask people to estimate what they would pay in rent if they had to rent their home. >> that's true we do do that. >> we do do that >> cpi a lot higher as a percentage component, it was the largest. >> they

from xfinity. >> on the peninsula, shoplifting suspect shot after a confrontation with an armed security guard inside a home depotan kerman has reaction from the community. >> as this home depot in san carlos was closing at 10 monday night. authorities say a security guard in a store employee confronted a suspected shoplifter at the self checkout area than a physical begin. suspect at some point was able to grab the security guards over time. he grab use the baton against security guard him in the face the head through the baton and at some point, the fire security guard discharge his firearm. 2 rounds were shot. one striking the suspect, sheriff's deputies in the area heard the shots arrived on scene and detained. the suspect while providing first aid until paramedics arrived. suspect is transferred to the hospital for his injuries they would non life threatening. suspect has since been released from hospital and he's in our custody here in downtown of the city jail. the suspect identified as 26 year-old jonathan mackey was arrested for robbery and assault with a deadly weapon. the security guard was taken to th

he's not going to do the same thing next year because we need to address inflation. >> the former head of home depothome depot multibillionaire saying don't botch it again federal reserve, do what paul volker did hike rates aggressively, even now, zoning again the city federal reserve president and very pressing on the stubborn trend, it is very good to see you. >> good to be with you, glad to join you. >> we are a long way from done according to ken langone. the rate increases that we need more and they should be bigger? >> i think we probably will have one or two more increases i think we are near the end of that based on the rhetoric that i have heard around the system the federal reserve and the public i would tell you powell says he and his committee are committed to 2% and if they are they will have to leave rates higher for longer and may have to raise them again. i think this coming september they will have their next cpi release for august. if that is higher they will move sooner. if not they may pause and wait until late october but any case it'll have to move. i would say one of the diffi

here's a look at the dow heat map with intel, walgreen's and disney, the worst performers travelers, home depotevron outperforming. "the exchange" is back after this rude. who are you? i'm an investor in a fund that helps advance innovative sports tech like this smart fitness mirror. i'm also mr. leg day...1989! anyone can become an agent of innovation with invesco qqq, a fund that gives you access to nasdaq-100 innovations. i go through a lot of pants. before investing carefully read and consider fund investment objectives, risks, charges, expenses and more in prospectus at invesco.com. >>> welcome back to "the exchange," everybody the trucking industry tracking the fallout from yellow's recent bankruptcy filing. frank holland is at the deutsche bank transportation conference across the river in new york city with what freight ceos are saying about that and the state of the transportation trucking industry generally hi, frank. >> hey, tyler. we spoke to the ceos of rivals of the now defunct yellow. those stocks continue to outperform as freight continues to move to other carriers since issues

only at the home depot. the power goes out and we still have wifi to do our homework.you? no power? no problem. introducing storm-ready wifi. now you can stay reliably connected through power outages with unlimited cellular data and up to 4 hours of battery back-up to keep you online. only from xfinity. home of the xfinity 10g network. >>> a second person has died after a shooting in downtown louisville, kentucky overnight. according to police, the first victim, an adult male, was pronounced dead at the scene of the shooting. another adult male died from his injuries in the hospital and five other shooting victims are recovering at local hospitals. police have not identified the suspect but say the shooting did not appear to be random. >>> florida governor ron desantis is warning residents to stay vigilant for tropical storm idalia. >> you could see impacts if you are outside the cone. please heed the warnings of local officials and continue to watch the news. >> idalia is set to crash into the gulf coast as early as tuesday during both high tides and a super moon. it

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>> the one stock we like is home depot. it did really well during the pandemic because we were trapped in our homes and wanted to make upgrades since then, the demanded has subsided people have to upgrade their existing homes which will benefit home depot. >> that is specialty retail. any other areas you see opportunity? >> these high quality momentum names which have run up a lot. we will look at those as a pullback as well apple and meta the street was disappointed with iphone sales declining we are saw the service business do well and the growth margins are almost double of the product division we are constructive on apple as well. >> 8% growth on the services business of the decline business 20% declines on the devices. you are seeing shares down 6.5% in last two days since the company reported earnings. are you worried this might be a story where valuations are just too high and yields are rising and showing cracks in the rally? >> we would be looking to add positions as the stock declines further. we think -- >> apple

target. >> we are expecting that lowe's will show the home improvement sector is bouncing along the bottom. it is probably going to do a bit lower than home depot the factors that had improved for home depot from the first to second quarter with california and the pro customer segment. still, we think lowe's will show it is generating a track record of consistency which should lead to better performance of stock with the buy rating of $170. >> 170. >> sorry. $270. sorry. >> $270 to be clear. good upside for lowe's. i want to ask you as we talked about mortgage rates hitting a multi-year high yesterday. a 20-year high with mortgage rates. how does that impact the business of lowe's where it is a higher percentage of do it your selfers? >> what is happening with the high mortgage rates, frank, it is forcing people to stay in place. it is too expensive to move especially with mortgages of 3% to 4%. existing mortgages at 3% or 4%. there is a strong disincentive to move at this point. consumers are looking around saying if i'm going to be here for a while and do work on my home, then it is benefitting the home improvement sector. it has been an offs

home depot in san carlos. no one died in monday night's incident, but the shoplifting suspect was shot and wounded by home depot security guard kron four's. dan kerman has the latest. >> about 10 monday night as this home depot store in san carlos was closing. authorities say a security guard in a store employee confronted a suspected shoplifter at the self checkout area. a physical altercation started. at some point during the altercation. the suspect managed to >> grabbed the security guards, a baton. the suspect then struck the security guard in the head and face. area with a time security guard discharge a firearm shooting 2 rounds, one of them hit the suspect. >> sheriff's deputies in the area heard the shots arrived on scene and detain the suspect while providing first aid to both the suspect and the security guard until paramedics arrived. the did not sustain life-threatening injuries. he was transferred to a local hospital since been released. and he's in our custody here in downtown of the city. the suspect identified as 26 year-old jonathan mackey was arrested for robbery and assault with a deadly wea

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only at the home depot. >>> the breaking news is out of iran.ully detained in iran have been released on house arrest. cnn's christiane amanpour broke the story and is joining us now. what does this mean for the four americans? >> it is a major step forward. however, we have to make a caveat. cthat this, according to to ther lawyer, who confirmed that four americans who were detained at the notorious tehran prison are at a hotel that's going to serve as house arrest for a period of weeks. it's been reached between the ts united states and iran. the u.s. and iran do not have diplomatic relations. there have been in treaties and held by the government of kut qatar. we know these american have left and are at the hotel. we understand they are being fitted and they are wearing and will be wearing ankle bracelets. they are being in the custody not of the americans, not of any international diplomats in iran, but in the custody of iran still. the irgc, that is the way it's going. once the t's are crossed and i's are dotted, then they will in the next

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the man accused of assaulting a security guard at a home depot pleaded not guilty in his first court e san mateo county sheriff's office says that jonathan mackey tried to shoplift from the safeway. i mean, the shots are the home depot and then hit a security guard in the head and the face of the baton. >> the guard then shot mackey and now he has recovered from that gunshot wound and he remains behind bars in the district attorney is also reviewing the guard's use of force. >> well, former house speaker nancy pelosi has agreed to let defense lawyers representing the man charged with assaulting her husband, inspect their home before the trial starts, david pap he's accused of breaking into pelosi's home and brutally attacking her husband paul last year. the defense team and prosecutors will each have a chance to walk through the home there. pelosi's home in san francisco's pacific heights neighborhood. it was earlier this month that the public defender argued that a walk through the home and the study of its interior would help them better understand how things played out that night.

only at the home depot. (vo) verizon small business days are coming. from august 7th to the 13th.arted today with verizon business. it's your business. it's your verizon. arthel: island is now a viral sensation thanks to this impressive throw, check it out but that is alexa core doughnut drilling nasa county executive bruce with a water balloon during a parade from about 100 feet away and he loved it. the strike so perfect it even caught the attention of the new york yankees. alexis mcadams has a story. >> new york yankees could soon have a new pitching on their hand after this now viral clip landed 10-year-old alexa cardona of long island in the spotlight for her great arm and a pretty good aim as she threw this water balloon more than 100 feet, hitting nasa county executive bruce right on the head. that video has more than 40 million views. catching the attention of the new york yankees who invited cardona out on the field. [inaudible] >> it is a tradition to throw water balloons out at that parade the county executive took the hits. now seen across the country in stride. cooks

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