thanks to strong, regular- season attendance late yesterday. it's estimates as well thanks to a robust start for the playoffs. they expect 14 playoff games between the two teams. way to go new york sports. >> the orioles and the success rubenstein is had with them. we need to check in with charlie. >> thank you for watching power lunch. looking to closing. scott walker. a full market on how to play it right now. we are going to ask our experts over the final stretch including one that says socks are going much higher ameer. in the meantime, your scorecard with 60 minutes ago in regulation. it has been a relatively muted day, although, we have had some bind in the dow which, by the way, is at 39,000. it was just there on the nose. we will watch that over the final stretch. plenty of individual names

making news today. uber down sharply, following a surprising loss in the recent quarter. shop if i smashed after earnings and the guidance. read it has been green delivering its first report as a publicly traded company. hanging on to a pretty nice game. takes us to our top of the take. what will continue to bowersox high? let's ask josh brown, the cofounder and ceo of management. a cnbc contributor is here with me. it is good to see you. >> it's good to see you. growth is the story of the day today. mostly ones that are getting wrecked which is like shop if i shopify, uber. what you make of the trade in general? >> we are tracing the enthusiasm that we came in with. all about from the fall into the early spring and april was the worst month we have seen in

quite a while. i think that that was really a precursor to some of the reactions that we are now getting after earnings reports. technology stocks, even the beats. the average company reporting is negative. i don't miss anything to do with whether or not the growth rate can survive. i think it is a very short term phenomenon and i think most of it has more to do with where we are versus what is actually being reported. that is actually the good news. the number one thing, scott, but i want you and the viewers to keep in mind is this. on wall street, there is no such thing in our language as good or bad. these two things don't exist. there is only better-than- expected or worse than expected. that is the bottom line. you got companies right now that are doing the number. they are seeing a selloff because it was not materially better. if that is the way were to consolidate and catch up to the huge rally that we have seen, i think it is the least that wait for it to take place. >> how much is due to the fact

that on half time with us, we have had a years worth of in a reasonably short period of time. he has taken his exposure down by 10-20%. taken exposure down and videoed a little bit. adam parker talking about with miniatures protecting capital. you know what the story as of late? 60% since the october bottom. software of 23 now from the beginning of the year till now, those numbers may even look a little more extreme. if you throw some of the docs that carried the load in those areas into the mix, is that what is at play here too? >> where we are? maybe it's where we have come from? >> the s&p 500 pullback is somewhere between five minutes and percent of the high. it is nothing. nothing. it is nothing. >> it was 5%. if this is the way that were going to through eight consolidation rather than something more sinister, i think 99% of the people

watching this would say okay, let's do that. you had overbought conditions in areas like semiconductors. you do not have those anymore. you have huge dispersion in the sector. the only stocks that have held up pre-and post earrings are ai related chips. tips for anything else, there is not enough demand out there to justify what those stocks have done. we heard it from the autoship companies. we heard it from the cell phone chip companies. it is not a bull market for anything other than training and inferencing ai related chips. if you think that some stock too much of a halo off of thinking? you mention the word ai over the next six months and off to the races. the froth that got into that area. i think investors appropriately got very bullish as we came into the year because earnings were going to be better-than expected. we have had 80% of the s&p 500 names in going into today 8.7%

about what the expectations were. we are actually seeing earnings estimates go higher which infrequently happens from the start of a corner. usually it is the other way around. earnings are going to be up over last year. by the way, c.a.p. is coming up, revenue numbers are hitting where they are supposed to hit. dividends being raised. it is an overseas phenomenon as well. market happening all over the world. european banks are rallying. >> i want to point something out. i want to go back to where i started with. it is not good or bad. the news is unequivocally good. it is better or worse than expected. consider this phenomenon. s&p 500 healthcare has the most s&p companies with earnings beats this order. 90% of them came in ahead of the estimates. that is really good for sector wide earnings performance. healthcare is tied with discretionary for having the

least amount of stocks above the 50 day. you got stocks not doing well despite the fact that sector wide, they are coming in and questioning. look at energy. it is through rivers. energy has been the worst sector. only 57% of s&p net energy names are beating estimates. 10% are in line. 33% are missing in energy stocks look better than healthcare right now. remember, it is better or worse than expected and we should expect that next quarter too. it is not going to change. >> how are you feeling about your uber holding which i think is the largest of all your holdings? >> it's making me want to eat. i have to be very honest with you. sometimes rather than deal with my problems, -- >> uber eats? >> people are very stupid. i'm looking at the reasons why they have. it is glaring. the company hit on all of the

operating metrics. they have securities for polio. they have made investments and other things. those had to be marked to market. we see these are not phenomenon all the time and writes about it in the letter how foolish it is when the asset goes down in value. then it goes back up. there is no commitment right up. this is like an accounting thing where they own stakes and things around the world. the prices of those things change. therefore, it leads to a "surprise loss." it's not an actual loss. if people grew up a little bit and behaved more like investors and less like somebody that reacts to every news headline. >> a huge move. >> not enough of me, scott. >> obviously not but what is wrong with a little bit of a pullback? >> nothing. it is 8% below 200.

you've got a 33 rsi. you are selling the stock today. i will be selling you a jar of paste later on this summer. you can eat directly from it because that is how you're going to feel, i think, when we focus on the actual fundamentals. >> are you ringing up the sale on toast? >> i should probably sell it. this is a way better reaction to a decent. if you will be totally up front, i'm not selling it because it's not a big position of mine but i am a long-term shareholder. i do not understand why it's a 14%. there might be some short covering. it was a good quarter, not an amazing quarter. i do not mean to talk down a stop that i own but frankly, what is happening here is really exciting for me longer- term. this quarter was nothing to be that excited about. they added 6000 locations. they are now above 100,000 locations that his individual.

restaurants or stores using their product. one thing that i did that the analyst didn't love, is to report this metric. how many locations are using six or more different services? out of the blue, they said we don't talk about that anymore? some of the analysts were like wait, why? i do not love that but listen. we will take it. this is a 52-week high approaching a two year high. maybe it will follow through and i will stop talking down. >> not every high beta growth name is down and gets wrecked. this is a good example. let's bring in chris harvey and of truist well. it is good to have you guys. you heard that whole conversation. >> good luck to you. >> 85-35. cannot help but go there first. that is your year and smp target. you are pretty bold up. >> at the end of the day, but

we are seeing investors do, they are being more aggressive with her discounting. it is really not discounting. the d stands for disruption. if you look at what else is happening, we repriced out expectations. now we are pricing them back in. credit spreads are still 85 basis points underlying fundamentals. if you look at what we saw during earnings season, it's actually pretty good. >> the top line was better. we had more beats than misses. will be either 4-105-1. that is not a bad environment. does that environment lend you to be as bullish as mr. harvey is? >> we are still positive. i will say this. when we think about the last six months, we had five straight months of gains. from a technical standpoint, you can test that out. when you tend to have above- average returns when you look at 12 months.

what we just talked about is the earnings season. we look at a what is the earning estimates. every week they are making new highs. as long as economic growth, those earning estimates should move forward. i think it is a positive as well and going to the fed, when came out last week, i think it was basically saying is much lower than to raise them. almost have a little bit of a put of the market or the economy starts going down quicker. they put that altogether and when you look at the next 6-12 months. we'll have a little bit of a child after the rebound off the lows. we did upgrade equities on the 5% pullback but rebounded pretty quickly. >> i keep hearing those words more and more. >> i would be interested to hear from these gentlemen. you've got a 10 year under 4 1/2. we were thinking about 5% as a red light for equity exposure?

4 1/2 low enough to say it's a green light or a yellow light? how much of that fallen in interest rates over the last two weeks? at a monthly low, how much of that would you say is responsible for keeping the market? >> i would suggest -- you think it had a lot to do with. the rates came down and the stocks went up. that is pretty much it. >> it's a green light. you were going to 5%, you stopped at. you have some paper come to market today and tomorrow. if the trade is lower, that is a really good time. what we are doing is pricing out. we are pricing back in. that is going to weigh out things and it looks like it is a green light, at least for now. >> how much has to go right for

you to get to that target? do you need cuts to get the 55 35? it is a big number. do you need to remain? do you need earnings growth to be better than it was at this quarter to get to that number? >> we don't need fed cuts. we need to believe that we are at the start of a multi-year easing cycle. >> but we also need is the economy is not strong. just stronger than what most people expected. maybe 2 1/2. that is fine. as far as what we need, to stay where they are. we need the fundamentals to continue to fill in and we need a little less volatility in the rate market. the belief that okay, we are not going to c5 again and when occupancy five for a sustained period of time. >> i saw you nodding your head in agreement. >> i totally agree. we talked about this idea that so much so long of the rate cuts are almost here but haven't yet arrived or do not

come quickly because something goes wrong. it's a really great situation to be in. 7-9% earnings growth is now like becoming consensus. with the possibility of falling rates in the next six months, it's like a really, really nice place to be. people are making money on cash. if you look at the flows into fixed income funds, i was with my friend from jpmorgan asking management for lunch today. the money is coming back in over the trans for bonds. this is a great set up. what could go wrong? the usual suspects. everything that i am thinking of right now. if you talk about the big fundamentals, inflation, getting under control, slightly getting better, rates going down at some point in the near future, earnings growth, dispersion across different sectors, winners of separating themselves from losers. people are happy and the markets are acting rationally. i think we can be here for the

summer. i do not see where that is the change. >> if you are a little more bullish than you are, you upgraded equities. you heard about the target we have over here. just give you all the reasons why it's proven to be constructive and bullish in this market. what areas do you want to really lean into right here if you think were going to have a few months more of this. >> yeah, by the way, i do think we might shop around a little bit first but i think the trend is to positive and you want to stick with that trend. the earning trends are stronger then the market. i also would lean into an area like financials because of the pivot, because evaluations and a lack of interest over the last couple years. i think that that is another area were seeing relative starting to improve and industrials along with as well, they pull back a bit more. uber is a part of that . we

like the more infrastructure side. it's not the growth side what it was last year and i think those areas that i mentioned. the areas will continue to do well over the next 12 months. >> chris, you suggested to our producers that the best risk reward is an mid-cap growth. >> that's right. >> a great evaluation, technical's are turning. they are self-help. they don't need the economy to move forward. if you are going to do, a lot of these companies are. if you look at them, they are outperforming your today and the last 12 month period it is also becoming the people are chasing at this point. i think across the capitalization, that is your best risk reward. if we think rates are going to settle or come down, it's going to sit down. >> i think that's smart.

if you would believe that the broadening that we saw -- >> he is having a great time. >> we had a broadening theme early in the year. everyone agreed to it. then it got shaky when rates were headed. we thought the 5%. a bunch of charts. that damage is not substantial and can technically heal itself. you do not have to be in the russell too. you could be in the mid gaps. i would even argue that when i look at the strongest areas of the market, i find stocks in every sector right now and they are not $3 trillion market gaps. >> are you alluding to the fact that it is okay to buy even small caps because you have this idea that rates are going to continue to come down? >> yeah. as you know, we have not been real constructive on small caps

for a while. we are just less negative on them and we are starting to see things that may be around would get more positive. if we are going to go down the capitalization, it is still mid- cap growth but we are less negative on all caps at this point in time. >> what about you? >> with laws caps at this point, the main thing is are stronger there. i do think if we have a stronger soft landing move like we had in the fall of last year were late last year, we want to see a shift in the trend. i think mid gaps are showing some improved relative strength. small caps at this point. >> are we going to be hanging on? i am trying to think of catalysts from the air. seasoned all but over. the meetings in the rearview. he said what he did. i do not feel like speak is really going to do much for us because we heard from the chair. is it inflation data?

>> i hink so. it is inflation data. the phrase that you should be using wasn't data-driven. that is the fed. that is what they should've been saying but that is what they are saying now. if you get a couple prints that are not hot then people are going to think that the fed has more confidence. that is going to be really positive for the market. if you get the conomy to cool down, that's to be really positive for the market. >> the jobs report told us that this past friday. >> just watch the data. >> that is your catalyst. nothing more, nothing less. >> i would agree. i would say in a trending market, individual catalysts are not really what we are looking for. but we are looking for is continuity and confirmation. the continuity does not come from having one gray day where the dow rises. that is not great. we like that dispersion i talked about. some people referred rotation. whatever you want to call it. this idea that we can have

stocks like shopify lose $20 billion in a day but not knock the nasdaq completely off course. there has a hole been torn in the universe. i like seeing that kind of thing but because for every shopify, there is a ready. okay? >> that is constructing and one too. these guys are looking at mid gaps from an mid-cap strength and it makes sense. industrials. they look sick. industrials of the best charts in the market right now that are not utilities. that is a good chart to leave. it is okay if tec calms down and industrials take the wheel. i think there is a lot of positive attributes to the tone of the market, not just what the dow and s&p do but what is moving beneath the surface? it is mostly other than that utility thing i mentioned. it's mostly what you would want to see helping tech take us. >> for every amazon and alphabet which are read today.

there is a med and microsoft and now even apple. >> i appreciate the conversation very much. just, thank you. >> we will see you soon. >> for a look at the biggest names moving into the close, christina. >> thank you, scott. positive trial results to a five-year high today. the trial the overshadowing the mixed earnings report and reiterated financial guidance for 2024. investors are instead focused on the company's pipeline as well as an upcoming mu knowledge in medicine. you can see shares up 13%. shares of trip adviser are plunging today. it is almost 30% down. worst ever since its ipo in 2011 because the online travel firm decided they were not going to be up for sale. this bet special committee felt that no transaction with a third party within the best interest of the company and shareholders clearly are not liking it. >> all right, appreciated.

up next, tracking the start smart money. piling into this year's leading sectors and one that is ill in correction from recent highs. what is driving that activity and where else are they seeing opportunity? coming up, we are going to tell you. we are live at the new york stock exchange, we always are. you are watching "losing bell" you are watching "losing bell" on cnbc. so you won't miss an opportunity. e*trade from morgan stanley this is our future, ma. godaddy airo. creates a logo, website, even social posts... in minutes! -how? -a.i. (impressed) ay i like it! who wants to come see the future?! get your business online in minutes with godaddy airo

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the issue. they are also saying that they don't have any evidence of incident or number mice to these environments. basically, investigating the issue, they are aware that these reports are swirling on social media right now. it is enough to send shares down 4%. >> keep us up-to-date, steve go that, thank you very much. nasdaq taking a breather. taking a leg lower but recent hedge fund activities suggesting there could be more potential in that space. >> north america, ahead of capital introduction. welcome. it's nice to have you on the program. >> how would you assess how his feeling in the current environment right now? given the blowback we had in the rally back. >> i would say so far in 2024, confidence ability to find alpha generating opportunities is quite high and remember, that does not mean it is. our clients are finding

opportunities across the markets. it is not uniform and there are few places where there is that competence in finding out the generation opportunities. one where people are putting money to work is trading oriented market neutral strategies. i certainly had a good year this year. some of the best performers so far as the end of april. we are seeing that continue. that is not a strategy the that you think about your capital compound. these fundamental stockpicking strategies and there are a few sector specialists where we are seeing a lot of activity and excitement. energy is one of them. biotech and tech. it is interesting. you guys were talking about it earlier. those sectors are a hot topic of conversation. >> seeing a lot of opportunity there. tech and biotech take on those for a minute. part of the reason is there is a lot of macro impact on this sector that creates dispersion. there is also a heavy ai influence on both sectors,

arguably more so than any other sector that is creating opportunity. the third is that there has been a lot of private investment opportunity in both tech and biotech and we are seeing is a lot of managers are applying the skills in due diligence and private investments to the public markets. there is that deep research and fundamental houses that provide opportunities beyond what you are seeing. >> i am going to guess that is not the only well-known investor or hedge fund manager office person who looks at what is happened with ai stocks and these mega caps and starts to feel a little uneasy and a little bit of profit in the names. is that fair to say? is that what you are hearing? what where hearing is certainly in the long only fate space, there is. the second half of the year brings a lot of

uncertainty, whether there is an election, what's going to happen with things like that. we are seeing some people think of the long side as may be an opportunity to take some profits or find some shorts. our securities lending that the week of hardball borrow volume is the highest it's been all year long. we are seeing short interest coming back in the market. that is a generation opportunity. yesterday, his long only fund was talking about increasing some shorts and taking exposure down by 10-20%. by the very people people who are managing money, especially with managers. as a mostly happening from growth managers? >> we are seeing it in general across the board for the feeling that the long only had maybe some time to take some profits. in terms of shorts, yes, especially ones where you feel that the market gains have not been. there is opportunities for this location. >> i was also struck by the

overall tone, if i want to call it that. it seemed to be more positive than maybe some unexpected. >> yeah, absolutely. there's opportunities abounding. one of the things that people are excited about is there is. at its 2021 highs seems to be returning and there is some excitement. things to do and places to put money to work if you look beyond the space. that is why it is an exciting. >> is that because at the end of the day, we believe that there are going to be rate cuts and that at least it lends itself to some level of optimism? obviously, it's famous within the community at don't fight the fed. it works both ways. batten down the hatches. if you know that they are going to cut, deliver more gain. >> i think there's also expectation that leading up to an election prior to an election, there is also that overhang but in general, hedge funds are dissipating in the

capital markets is certainly a trend were is he growing. >> i appreciate you being here. >> from city. from the playing field to the front office, legendary lacrosse player and head of the premier lacrosse league. he's going to discuss his game plan to discuss the popularity, ali is reshaping the big business of pro lacrosse. a book which is a manual on success. we will discuss, next. ng is thet for bold. what straps bold to a rocket and hurtles it into space? boring does. boring makes vacations happen, early retirements possible, and startups start up. because it's smart, dependable, and steady. all words you want from your bank. for nearly 160 years, pnc bank has been brilliantly boring so you can be happily fulfilled... which is pretty un-boring if you think about it.

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compete. it is simply that they have enjoyed a 99% monopoly and now they are going to have competition. >> welcome back. success in business and in sports can often follow similar paths. a big dream, be part of a great team and hopefully, for format and elite level. our next guest has done just that and now hopes to inspire others to be the best that they can be. the cofounder of the emirate lacrosse league often called the michael jordan of the cross. his new book, the way that persistent is out now. he joined us at post 9. you don't like those references. people say you are the greatest across player of all time. i have described your book as a manual for success. be it business thomas sports, whatever walk of life you happen to be currently on. what do you want to take away? >> from some of my experiences but mostly from lessons and entertainers in the world. i share a range of wisdom. it has resonated with me.

get an understanding of what it takes to win and how to build tolerance for pain and how to be world-class persistence. those are the two attributes that identified with the greats. >> risk-taking plays a role. >> no question. one of my favorite chapters is called. there is this misconception that the best ever have an income using to them. bill belichick who has won eight super bowls, he is losing his coach in nfl history. michael jordan 9000 shots. mark zuckerberg and meta have the biggest single day market cap drop and it's what they have been able to do in risk aggression and resilience through loss that is unmatched by the rest of the field. >> bill belichick wrote the forward which is equal. what specific anecdotes and you share with our viewers from the athletes that you either talk to or read about or took some

knowledge from? >> i would like to say that the first piece is around discipline and commitment. there is a chapter called you cannot miss a day which is a lesson i got from one of the legendary lacrosse coach is who said paul is an eighth grader all the way through your senior year in high school. if you shoot 100 shots again a day, you will get a full ride to the college of your choice but you can't miss a day, not for a holiday, not because it's big game date, you are sick or injured. it is the discipline and commitment. and then as you progress through the book, it turned into a business lesson. i learned from howard schultz and steve jobs, even magic johnson around the courage and humility it takes to ask for help. it's known as the best attribute for leaders and it takes courage because if you ask for help as an athlete, you are worried you are designated that you are not ready or did not prepare and as a leader, if you are asking, same thing. if you have that humility, you are far more likely to succeed and get you an answer fast. i say that because you are so

identifiable with it. you are a great reason why it is traveled from there to here and there was one point in your life where you are embarrassed to tell people that you played pro lacrosse. take me there. >> that was in 2008 when i graduated from johns hopkins. signed to a rookie deal for $6000 for the entire season. i worked my way up to becoming an mvp champion. at that rate, i was getting paid $15,000 for the season all along the way, new media and tech were disliked disrupting on. we started scratching our heads and being like my not lacrosse? i got to give credit to my older brother mike. he is my cofounder and ceo. but the breast players in the world to start the pol. and we change the model. >> really approached it like a startup. we talk about founders everyday and venture capital. you literally took that

approach. >> we were thinking okay, if radio was major-league baseball what television is, social media can be to the pol. on top of that, what is more important to us and that is garnering attention quickly and bundling to grow revenue. we are actually. we on the league. all eight teams marking rights to players. field activation, online activation. it is very different than a traditional trade. >> you got equity in players, don't you? >> our players are paid four times. they have equity in the league, healthcare year-round. if we roll out the red carpet for them, fans of the game will see what pro lacrosse is meant to be gone and will be more likely to watch. >> this one particular time in the anthology of this league and you did not, which i am fascinated by as well because another thing we talk up talk about, founders, getting these offers when you start from

nothing and then you get offers worth millions of dollars. what enabled you to say no but what is your game plan now? >> we were only in the early ends and there was so much more to want to continue to innovate on. we still feel that way but when we were first offered in 2020, we had yet to get the sport back into the olympics. one things i tell people about lacrosse is that it's the oldest game in north america. it's been at the college level and fastest-growing of the youth level. we have helped revive that and invested in the pro level. we said no because we believe that lacrosse and the pol can be a big six. right behind mls and nhl. >> yeah. speaking of, is there too much of a saturation, so to speak, with these other leagues like yourself.

a pickleball? it seems like you turn on the tv these days and you have your choice of 15 different others warts. >> yeah. the most difficult thing to do in the sports business is secure a media right steel. most emerging leagues have time bias or to do rev shares. there have been 200 sports leagues that have. that's ability to sustain beyond three years. cut the spring football and formally, women's soccer and other have figured it out. that was pro lacrosse. we are trying to figure it out heading and our six season now. >> we are on the espn family networks. we started with nbc. by the way, both of those networks have done the best inhibiting around maintaining a relationship with broadcasting cable and streaming services. we feel like we can continue to grow as a tier 2 emerging sport at a faster rate than 1% at a time if you are tier 1 competing with. by the way, both playoffs are going on right now. are you watching negotiations

that are happening for nba, tv rights? what are those large numbers make you think about as it relates to your own sport? >> it's a great question. been a mentor of mine and he is going to her right now. i suspect. >> in a good way for him. >> a good way for nbc too. i have heard about what they have offered to try to get back into the room as they were in the 90s when i love watching. here is what i will say. big tech has added to inventory and budget. their content owners and content licensors, they know how to distribute. they have activated their streaming forms. what makes sports so unique? once streaming is captivated entertainment, you no longer watch ads, it's the only appointment watching television at which means it's more

valuable for the ad network which is $60 billion television network. $235 billion globally. the ad market is approaching 1 trillion. that is why it big tech is getting in and that is what makes sports interesting. >> the way of the champion is out now. up next, tracking the iggest movers into the close. christina is standing by once again with that. christina. >> very different earnings reports from two online merchants and both are plunging. i will tell you why after this short break. it's payback time. all these years, you've worked hard. you fixed it. you looked after it.

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less than 15 to the closing bell back to christina for the stocks. she is watching, what you think? >> shopify, the plunging went down 20% worst ever since its 2015 ipo after the e-commerce platform company for merchants reporting better quarterly results, great, but is more disappointing current profit and revenue forecast. the share is down 19%. consumer lending firm also falling in sympathy with shopify. even though had a strong third quarter better-than-expected gross merchandise volume. an important measure of. an upbeat guidance. the zillow suggesting investors

by this date and it means 11% lower for a firm. >> thank you. still ahead, airbnb's numbers out after the bell. that stock nearly doubling the s&p 500 this year. we break that down next. later, very big interview you don't want to miss. the founder and ceo is at the top of the hour in ot. we are back on "the bell" after this.

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the big earnings set up more in the market zone next.

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or college, since you like to get schooled. that's a pretty good burn, right? got him. good game. thanks for coming to our clinic, first one's free. we are in the closing bell market zone. cnbc mike santilli here to break down the crucial moments of this day. plus, another busy earnings afternoon. what to expect with airbnb. michael, what stands out to me, jp morgan, goldman sachs financial is doing well. >> that is a big part of it. the market is gathering itself after it had this bounce but if you looked on the checklist, okay, what is good, what is not so good? financial leadership since the

fed meeting has been very clear and that is continuing today. going into today, very strong on a 10 day base. one of the strongest we've had in a while. it is global. the recovery of other markets work incredibly seems fine. they have flooded out into the unpredictable zone. the grind is fine for a while. i think we have questions about whether we did really restore the energy to the upside for a big move or we can say supported around these levels. but first time it took us a few weeks to get through. >> able to withstand some growth blowups which is not insignificant. we've mentioned at the top of the program. >> shopify. that old software basket that was going to be the future, it is clearly -- it does not have the benefit of the doubt among

investors. yet to say what happened lately. the shopify numbers in particular, it fits into this theme of anxiety around small and medium-size business on what they are experiencing. a lot of software companies are reliant on that stuff and that is what we are seeing evidence of in some of these shortfalls. >> a good look at consumer demand as it relates to airbnb. >> what's interesting is that wall street has already brought down estimates with airbnb after the company in february said both rates in the first quarter will moderate from the previous quarter but that has not stopped shares from rallying. outperforming competitors booking holdings in expedia this year. over the last week, bookings at home rentals category is growing while expedia said it's the rbl business is slowing. what is airbnb seeing? increased demand for home rentals during the summer olympics and elevated hotel rates could drive airbnb's growth. their price target, $200 a

share following a trip adviser's comments today about mixed signals in the travel sector. this will be key to hear from brian teske of airbnb on pricing and the impact of inflation on the consumer. >> on what to expect from robin hood in overtime. >> we are here and memo park. some of the big themes are focused on cost cutting. and then some new regulatory risks around crypto. has also seen this surgeon monthly deposits in part due to some promotions. investors want to see if top line still very much driven. essentially trading. recent all-time high and then what we saw at a coinbase could for robin hood. beyond trading, will see how robinette is doing it growing

his retirement and his credit card business. outside of that court trading business. that has been rising in the past few quarters at least. there are some regulatory risks from what the agency says are violations of securities laws. we can hear more about that on the call and then we are also going to talk to the cofounder and ceo of robin hood. right here, were going to hear a lot more about the quarter coming up on the last call. >> good stuff. thank you very much. less than one minute to go. utilities best this week. defensive rate down helping ai power plate. all of the above. >> mostly defensive and under owned stuff has been doing well. the ebb and flow, the market overall is managing to get traction. what happens as the movements occur in between. tech leadership is really flat. i think they are really on

watch here. they really are underperforming a staples. consumer fatigue plays through that group as well. >> on the dow. will not quite get to on the smp. that always leaves tomorrow. that is the scorecard on wall street but the action is just getting started. overtime, i am morgan brennan at cnbc headquarters. >> i am john for joining you from las vegas at servicenow's 2024 conference. coming up, we are going to hear it visibly from servicenow mcdermott and jensen hung . with some investors questioning whether the impact has een over height. we begin with the market as we await a flood of earnings in the next two minutes. arm holdings a