Deck and while we await another fed decision, that is there on wednesday at 2 00 p. M. Lets bring in jack ablin, crescent capitals Founding Partner and cio. Lets start with earnings, why dont we which ones will you be looking at most closely . And if corporate earnings are coming down as many predicted, why is the market going up im scratching my head with that one too, tyler. Yeah so i want to look at tech earnings tech is really the only sector thats expected to be up year over year. I think Consensus Forecast has about 12. 2 Earnings Growth for the tech sector in the s p 500 meanwhile, the s p overall is expected to be down about 10 . So clearly its the tech sector that im watching to see if it not just can deliver on expectations but really needs to exceed expectations in order to justify the values that they currently have so how do you explain the markets performance during this very nice month of july so far is it as simple as, well, if you look at the s p 500 its capitalization weighted and the seven stocks that are the most heavily capitalized are the ones that are doing best. How do you explain the performance that weve seen . Yeah, i think maybe investors are watching Interest Rates because really these are companies that you have to discount so far out into the future that any change in Interest Rates or any expectation of change in Interest Rates will likely impact that sector the most. And given the fact that the it appears the fed has won the war against inflation that perhaps investors are saying okay, lets put that inflation issue behind us and lets look forward now. Yeah. Along those lines, jack, you could make the argument potentially this is a market at least right now that is not trading on fundamentals, its trading on narratives. To your point. And whether its the fed being close to done if not already done with its hiking cycle, the disinflation narrative weve seen take root in the market and has certainly been a little bit up for debate. But i mean look no further than some of the data we got this morning to see that its happening. How much does that shift as not only do we get earnings as the week goes on but also as we do get the fed, we do get powell speaking and by the way, pce later this week too . Thats it, margaret i think youre right on point here the fact is that earnings season forces us to look at valuations, forces us to look at fundamentals and my view is even if companies deliver, lets say just the s p, even if companies deliver on the expectations and maintain the current expectations for the next four quarters earnings and dividends, i still believe the s p is about 11 overvalued. Now, youre right. A lot of its pretty top heavy and i think a lot of the under the radar screen names can catch up but i do think that we could see there is a risk that we could see a pullback in the s p and the nasdaq and you think nasdaq is even more overvalued than you think the s p is, which leads you to some unloved sectors like reits, which a lot of private equity and hedge funds seem to be dabbling in these days and also dividend growers. Name some. Sure. A lot of these dividend stocks and the reits are fond alternatives and investors decided why have a bond alternative when i can own bonds. But we like mccormick. Mccormick company, spice company, has a very its about a 1. 8 dividend yield, growing at 8. 7 annualized for the last five years. We like Archer Daniels midland again, two foodoriented companies. 2. 2 dividend yield. Highquality Company Growing at about 5. 4 annualized. And then alternative energy next era, 2. 5 dividend yield, growing at about 11. 3 annual rate if you go back in time and look at Dividend Growth relative to inflation over long periods of time, its a great way of earning income from your portfolio. Got it. Do you stick with u. S. Specifically or in a week where you have ecb and boj on tap as well and a dollar that has i realize it bounced back a little last week but it has this year been weakening does that mean more opportunities elsewhere . Yeah, i think, morgan, there are huge opportunities overseas, particularly in developed international. You have International Stocks in general trading at about half the valuation of the s p 500 theyre in about the 30th percentile of their historic its historical range whereas the s p is closer to the 70th percentile of its historical range. And then take on top of that the dollar is expensive relative to some key currencies. So for example, 20 overvalued relative to the euro 40 overvalued relative to the yen. So now if you own as a u. S. Investor International Large caps really there are two ways to win either the valuation catches up or at least closes that gap or the currency picks up. All right, jack, thanks very much always great to see you, sir all right thanks, tyler. Jack ablin. Lets drill into some of these stocks set to report this week obviously, big tech is always in focus, but what are some of the other key sectors . First, restaurants chipotle, mcdonalds all on deck many analysts have been expecting a Consumer Spending slowdown, but maybe thats not the case kate rogers has more hi, kate hey, morgan we started the earnings parade with dominos this morning and many more to come this week as you mentioned including chipotle, sweetgreen and mcdonalds, which will give us more color on the consumer and while many restaurants is outpacing inflation at Grocery Stores consumers are continuing to dine out. Thats a trend that should continue this summer as tourism picks up while the traditional thinking may indicate consumers are cautious or price sensitive which would boost stocks that offer lower prices for diners like mcdonalds, wendys and yum. Those names are some of the weaker performers on the year. Theyre up between 8 and 20 . Wendys is lower on the year the best performers of the year so far are actually those with a higher ticket cost for consumers. Shake shack, sweetgreen and chipotle and interestingly enough the casual dining names are outperforming the fast food stocks darden, the parent of olive garden, texas roadhouse and blumen brands parent of Outback Steakhouse are all up about 20 year to date while many of these names dipped into takeout and delivery during covid theyre most associated with that sitdown dinein experience that tends to be a bit pricier. And finally well turn to pizza. Dominos this morning reporting mixed results. They say the Delivery Business continues to be challenged in the u. S. Dominos up about 12 year to date papa johns is just lat. Pizza of course one of the cheapest ways to feed a family if you are choosing to dine out these days, guys back over to you a lot of pizza in the household. Its very popular with the toddler set. I do want to go back to dominos part of what pressured the top line miss in dominos was food disinflation and the way that plays out between the company and its franchisees. Is there an expectation that as we see some of these costs associated with some of these food commodities that that could be a situation that plays now the some of these other names too, either positively or negatively well see as you mentioned, dominos obviously a supplier to the franchisee thats great for the franchisee, the costs are lower for dominos not so great because theyre the supplier we have to see what some of these other big names mentioned in terms of inflation. But its interesting because we talked about both mcdonalds and chipotle, two very different price points for the consumer but both mentioned that they werent seeing too much price resistance again, mcdonalds being a little bit cheaper, chipotles being a little more expensive. This was last quarter. But neither really seeing pullback and not a lot of trading down away from a chipotle to a mcdonalds all of these businesses seem to be pretty stable and as mentioned a lot of the casual dining names which are more expensive, especially if youre feeding a family, those stocks are doing really well and those companies also were performing quite well last quarter. So well have to kind of see how inflation weighs on all of these names heading into the back half of the year. But everyone seemed quite optimistic last quarter. Ill be watching to see if that trend continues this quarter we know youll bring us all of the details as those reports roll out kate rogers, thank you lets also take a closer look at some of the big industrials that are reporting results this week. On tap tomorrow we have General Electric thats benefited from its health care spinoff in january with more spinoffs to come of its remaining energy business. The Aviation Business beginning of next year in the past 12 months that stock has gained almost 110 check out that chart largely outperforming big tech names like apple and alphabet. Joining me now to preview is dean dray. Always good to see you want to get your take on ge ahead of results tomorrow. Is this really just all about jet engines and the aviation recovery thats playing out right now . Yeah. Hi, morgan its great to be with you. Yes, ge has been a story stock, a deal stock really ever since larry culp arrived and were coming down to the wire now its two businesses, granova, the power of renewables, and the Aviation Business. Thats what most investors are focused on the Aviation Business thats going to be remainco. Thats where the growth is coming thats where we see valuation. And the storys playing out very nicely and the stock has been real strong this year its up almost 70 year to date. And we still see upside from here on some of the parts basis. Which is compactly my next question for you do you buy at these levels or do you wait for a pullback . Oh, we still like it here everything seems to be on track. We got an update on june 20 from ge at the Paris Air Show supply chain issues. Looked at the favorable now. And we think its a good time to be an owner of ge. Whats left of ge just the aviation basically . Yeah, so its two businesses, two segments vernova, which is the power and renewables business. Thats slated to be spun off in early 24. And that will leave aviation as remainco is this then a lesson in Financial Engineering or Corporate Management or both tyler, its all of the above. We also call it weve been talking about this for five years, about this whole trend towards the demise of the conglomerate, the demerge, portfolio simplification, addition by subtraction. Investors reward companies with a more focused portfolio so the timing was perfect for ge to simplify the story and now its down to its lowest common denominator, aviation. Mark my words long after i am retired, ge will reconglomerate, as will many of those conglomerates. The Investment Bankers will go to them and they will say youre going to be stronger with these other bolton components attached and watch, in 20 years itll look a lot like the old company. I bet. Tyler, its going to happen a lot sooner than that love that well pivot from saying well be back to an urge to merge. And were getting pretty close to it. I think that pivot will happen a lot sooner than your 20year mark maybe ill still be here, then who knows . I do want to ask one more question another bloue chip thats reporting tomorrow morning is 3m they have not succumbed to the urge to demerge quite as aggressively as some of these other names that weve talked about like ge. Your thoughts on that company, especially since the stock has underperformed over the past year plus. Yeah, morgan. 3m has really fallen out of favor. Its no longer the blue chip that it once was we do have a sell rating the whole earnings story is completely overshadowed by litigation on two fronts, the pfas and the combat arms and really that has rendered the stock uninvestable at this stage. Deane dray, thanks for joining us that is about as clear a position as you can come by. Uninvestable thats a pretty firm stake in the ground there for 3m. All right. Coming up, fighting for control. The ftc and white house ramping up their antitrust fights this year, and despite more guidelines and Suits Companies are not backing down but neither is lina khan well discuss next plus Technical Support for meme stocks many of those names climbing over the past month. And based onnast aly targets they could have even more room to run well be right back. Would alwa you need to fuel the body and you need salt. I would always be the kid not cramping, ready to go. Fast forward 20 years and i go from eating salt out of my palm to drinking lmnt. This is ge vernova, helping generate and move the energy that our world needs. Welcome to a new era of energy. Welcome back to power lunch. As the ftc and the doj release 13 new proposed guidelines for merger federal trade Commission Chair lina khan speaking to the Economic Club of new york not long ago after losing two key antitrust cases. Heres what she had to say about how the losses affect the ftcs strategy moving forward. We in federal court have lost two merger cases we have brought somewhere between, you know, 13 and 20, depending on how you count and gotten abandonment so in the scheme of our merger Enforcement Program losing two is okay. Obviously, we want to bring we only bring cases that we think we should win, that we can win. Every time we have that type of setback we look very closely at, you know, where could we have done better, where did we fall short, and use that to inform our approach Going Forward joining us now to discuss is bill baer, former assistant attorney general for the antitrust division at the department of justice and a visiting fellow at brookings hes the only person to have led enforcement at both antitrust agencies of the ftc and the doj. Bill, welcome. How are you . Good to see you. Thank you great to be here what is your response when you hear lina say weve won more than weve lost but the two losses were pretty significant ones involving Big Companies that Everybody Knows i think shes right that you dont bring cases that you think youre going to lose you think youve got a factual basis for. But many of the other challenges theyve brought have resulted in companies saying we give up, were not sure we can win in court. And so those numbers are relevant to an overall assessment of how well shes doing at the ftc and her counterpart Jonathan Canter is doing at doj as you step back and you look at miss khan and mr. Canters approach to antitrust, something you know better than maybe anybody in the country, what would you say is being articulated about their approach is it different from the way it was . Are they going after qualitatively different kinds of combinations or concerns or what . How would you what is the biden administration, the regulatory philosophy that is holding true today thats a great question i think to try and put it simply they are saying that over the last 40 years antitrust enforcement has gotten too conservative and whats happened as a result . We have more industries that are more concentrated, less competitive, and that does not serve consumers, it doesnt serve competition, it doesnt serve workers well so they are going back to basics, these new Draft Guidelines saying two companies are merging, lets look at how they interact today and whats going to be lost in terms of competition if thismerger goes forward. So it is a more realistic, less dogmatic, less theoretical and more practical approach to making sure consumers, workers and the overall American Economy benefits from competition. So if youre reimagining or revisiting or expanding the definition of antitrust, how much of that is actually the jurisdiction of the ftc and the doj versus congress . Basically coming with new legislation. Sorry to interrupt you there. What the antitrust enforcers under biden are saying is we need to go back to what the statutes actually say when it comes to mergers and acquisitions is there a tendency, a risk that a combination, a livenation ticketmaster will end up harming consumers thats what the merger statute says, its taking a look at risks that things will get worse and it involves a prediction and the Chicago School of economics has basically taught us that lets just tighten the standard, require the government to prove a certainty rather than a risk or a tendency. So i dont think we need new law. We just need more fair application of the law that congress wrote so what is your takeaway, then, of what weve seen play out in the u. S. Court system because i realize theres still a european and uk specifically regulatory situation going on. Specifically in the u. S. Court system around microsoft and activision well, first of all, the ftc was unable to prevent the acquisition from taking place. But in the course of the u. S. Investigation, the european investigation, and the uk investigation microsoft effectively conceded that without commitments it had both the incentive and the ability to favor itself and its gaming system over its competitors. So microsoft was forced to make ironclad commitments to make games like call of duty available to its competitors so while the government did not successfully block the thing in its entirety, it extracted concessions which potentially hopefully will allow activision games to continue to be widely available. So the interpretation and enforcement were seeing now of antitrust and sort of this rethinking or back to basics, i guess, around antitrust and its application in the market in real time right now, how sticky does it become if this administration logs some wins and or casts a pall over companies that maybe different administrations in the past would have been looking to merge and are now not doing that how sticky does that become for future administrations and future regulators over time . Well, i think it becomes sticky if the courts go along with it. Right . We are a common law system and we rely on judicial precedent. And to the extent the courts agree that things are not perfectly okay in the u. S. Economy, that consolidation is a problem, i think that will stick. A number of years ago when i was at doj i gave a talk it said there are just some deals that should never make it out of the corporate boardroom and what you are seeing, i think, is companies as a result of a more progressive enforcement strategy taking a hard look at whether going after a particular competitor is worth the risk of the time and commitment and that is i think a good thing. Were going to see less consolidation and more competition. I dont know all of the details of the anheuserbusch modelo case, but im wondering, very quick answer if i might, bill, would modelo ever have been the number one beer in the United States if that combination or deal had been allowed to proceed . Absolutely not. Anheuserbusch wanted to buy modelo brands because they were competing effectively with the anheuserbusch brands in the u. S. And by preventing that from happening modelo has succeeded and consumers have benefited and as a beer consumer ive benefited. Bill, thank you very much bill baer, we appreciate it. Thank you well, chevron releasing some preliminary earnings highlights, and theyre looking good the real focus for investors the company keeping ceo mike worth on as ceo and waiving its mandatory retirement age to do so weve got those details next with shares up 2 1 2 right now. Plus, further ahead, the Barbenheimer Box Office. Living up to its name, bringing in north of 200 million combined well be right back. I remember being on aau trips, high school games. My mom would always say, you need to fuel the body and you need salt. Im like, why do i need salt . Like, who is going to do that . She literally would make me rip open a pack of salt, pour it in my hand, and i would, like, lick my hand. Sure enough, i would always be the kid not cramping, i would always be the kid energized, ready to go. Fast forward 20 years and i go from eating salt out of my palm to a drinking lmnt. With your hearing, if you start having a little trouble, youre concerned that its going to cost you money. To this day i only paid what i had to pay for the device. When i go back everything is covered. Theres so much youre missing by not having hearing aids. Well find you a hearing aid that fits your lifestyle and budget at one of our over fifteen hundred locations. Call miracle ear at 1800miracle and schedule your free, no obligation hearing evaluation today. Welcome back to power lunch. Stocks are higher again today but bond yields rising as well lets get to Rick Santelli in chicago for more hi, rick hi. And indeed we see that the short maturities like two and threeyear notes are powering yields higher. We had a twoyear note auction today. The highest yields, by the way, since 2007 at an auction and as you look at an intraday you can see how its climbed all session. And whats very fascinating is if you put up a threeday chart we have cleared the zone on the short maturity twoyear note yields, as you see there but if you keep that same threeday chart and move further down the curve toward the 10year maturity you can see were close but we have not broken above the recent range, right around that 386, 387 area. Traders are monitoring that. Of course that means were getting more inverted. And not only are we getting more inverted 2s to 10s but were also seeing a widening between our yields and european bund yields as you look, we are at the widest of the year right around 145 basis points so near 1 1 2 wider and when youre wider at this point after Central Banks have definitely moved off the path of tightening rates, raising rates, you can see what its doing to the dollar index heres a dollar index onemonth chart. And weve turned the corner. Despite all the big legendary names that have been shorting the dollar, it certainly seems as though handicapping these yield differences is certainly showing up in preference of investors toward the greenback tyler, back to you rick, thank you very much Rick Santelli. Oil climbing today along with industry giant chevron Pippa Stevens here with the details. Hi, pippa. Hello were starting with oil. It is at a threemonth high and its on pace to close above the 200day moving average for the first time in almost a year. Thats lending some Technical Support on the fundamental side. There is some data showing that those opec production cuts might now start actually weaving through into the price of oil. Then weve got strong gasoline as well as jet fuel demand but the big talker today is chevron. They announced yesterday some highlights from their q2 results with full results slated for this friday. They also announced a management shakeup the cfo will retire next march and then chevron also waived the mandatory retirement age for ceo mike worth, meaning hes sticking around for a little bit longer and i think one thing thats interesting about this is chevron and Energy Companies more broadly have a lot of cash on hand right now and mike worth has overseen three deals over the last three years including most recently pdc energy, which is expected to close next month. So with all of these calls for more consolidation in the space having someone at the helm who actually has the industry knowhow and these deals under his belt was perhaps one of the motivating factors to extend his tenure all right and of course were seeing investors react positively to this news with shares up 2 right now. Pippa stevens, thank you see, we got the green room up today. Lets get over to Contessa Brewer now for a cnbc update hi, contessa morgan, thank you the deadline just passed for texas to remove a 1,000foot buoy border wall dividing the Rio Grande River the Justice Department threatened to sue the state if Texas Governor greg abbott did not commit to its removal. The governor claims texas has the authority to defend its border and is stepping up to address the migrant crisis but the doj calls that buoy wall inhumane and illegal the state Department Says theres been no new communication between north korea and the United Nations command about that american soeng who soldier who crossed or into north korea last week that counters an earlier comment from the u. N. Deputy xlarnd in the region who said talks had start bd private travis king according to u. S. Officials north korea acknowledged a message the day king went into the country but nothing since. And the irs is putting a stop to a decadeslong practice of unannounced visits to homes and businesses the agency says its part of an effort to keep workers safe and undermine scammers who pose as agents it will instead send letters to people to schedule the meetings, and the change were told takes effect immediately morgan all right Contessa Brewer, thank you ahead on power lunch shares of amc surging after a Shocking Court ruling against its a ocstk Conversion Plan putting the measure on hold. That story when power lunch returns. We may be seeing a return of memementum. The poster child of the group surging today after a judge blocked the companys plans to convert its socalled ape shares into common stock. Kristina partsinevelos whos been following this story has more kristina youd think maybe barbie or oppenheimer would play a bigger role in amcs stock surge but its all about core drama between shareholders and management on friday a judge blocked amcs plan to convert its preferred equity units, also known as ape, amc ape. Xhoin into common stock based on the belief the conversion deal was too xhs presencive common shareholders would have to give up some legal claims if the conversion occurred. Over 3,000 individuals sent in letters to sway the judges opinion presumably out of keshz for further share dilution amc shares skyrocketed on the news postclose on friday. That was also helped further by Short Covering because many investors have tried to take advantage of the price difference or price arbitrage between ape and amc shares, which means going short amc, long ape and thats definitely a tough position to be in today. However, ceo adam aaron is concerned. He took to twitter yesterday to almost beg for help by writing, amc must be in a position to raise Equity Capital i repeat, to protect amc shareholder value over the long term we must be able to raise Equity Capital. And thats because amc needs to needs the kfrg to boost liquidity and boost debt after theaters were closed during the pandemic aron says they could run out of cash next year or by 2025. So amc currently has filed a new, more narrow version of the settlement just over the weekend, which it hopes will address the courts concerns worst case, though, if the company cant convert these ape shares back into amc common shares, amc might be forced to issue even more ape shares to cover its upcoming cash requirements and then this whole dilution cycle starts all over again. Guys it is going to be quite the case study in terms of how all this plays out, kristina not to mention the fact that you could see longterm impact from some of these strikes, these hollywood strikes too, which i think aron is concerned about. Kristina partsinevelos, thank you. Speaking of the meme stocks, cnbc pro out with a new screener looking at some of the runups in those names this month, many of which still have some room to run. Thats according to wall street. While others have already seriously surpassed expectations so here to chart some of the names is jessica inskip, director of product at options play joins us right here. Jessica. Lets talk about amc yeah. So amc from all fronts i see a very clear downward trend. So very bearish. Were zooming in on a daily chart because its a shortterm traded security, so we need to talk about the shortterm trading targets. That 200 daily moving average, that is your clear downwards trend. But you can see it is not enough even if you surpass that because there is a series of lower highs constantly so what i need to see is that shortterm resistance of about 611 here to be a new higher high, so overcoming those lower highs in order to have more of a bullish stance so thats going to take some time but i would not touch this security until i have sustained closes above this line which kind of speaks to how much the stock moves and how big those moves have been. The fact you could have a 30 plus gain today and its still not even remotely close to where we were at the beginning of the year, to your point. Absolutely. All right lets talk a little bit about tesla. This is another name, obviously mega cap name but very memetastic as well. Your thoughts from the technical standpoint tesla, i actually really love this chart its a beautiful chart from what im looking for when i am focusing on a bullish trend for a security, i want to look at the weekly moving averages. The 200 weekly moving average gives me an indication of the bullish overall larger trend so thats sloping upwards. In addition to that i look at the 26 and 40 because thats 2 3 4 and we look at the market from a quarterly perspective so i want to see the prices moving upwards in addition to the security being above that. And those series of lower highs or higher highs, i want to see it switch over, which i see here so what i was looking for in amc tesla has done but on a weekly level, which is more broadbased, which means it has more strength to that trend. So therefore, im targeting about 313, which is about here and thats a zone of what im going to call a oh, look at that. Large area of supply and that is going to be your shark in the water essentially because its a large area of supply where i need to see theres a lot of people who own that security, there are consistency prices, it has become a form of resistance here, a form of support here, a form of resistance here. So therefore is this demand going to overcome the supply that i see are the sellers going to leave the market thats where the sflie is. Its consistent of sellers i want to see them leave the market but thats a great target from here 313. Once we see it consistent closes above 313 on a weekly basis, then we have another really great bull case. Of course this is one of those names that doesnt always trade on fundamentals or analyst upgrades or downgrades the technicals matter perhaps even more here it absolutely does. Okay. Lets talk about Delta Airlines, which is a name that reported very strong earnings earlier in the month. What are you seeing in this chart . So Delta Airlines is i want to call it consolidation. So same type of view we have the 240 and 26 weekly moving average youll notice there was a crossover in the 40 and 26 moving averages or sloping upwards, that gives me an indication were in a bullish trading cycle. However, that 200 weekly moving average, its still down i want to see that move start to move upwards, and i still need that consistent close above those old lower highs. Which is right here around 5217. So once it reaches that point now were in an area of consolidation according to the dow theory once we have an area of consolidation then thats when we really move up into a bullish cycle. For delta im calling that sideways shortterm target of 52. 17 which is going to create the torch a new trading range and if we see consistent closes above that then i would reconsider a bullish case. So perhaps poised for a takeoff here perhaps well have to see yes jessica inskip, thanks for breaking down the technicals here thank you, morgan. And the machines worked you did it beautifully very nice Straight Lines too. I dont think i could do that. I was going to say before, these things never work, just be ready. But you made it work we had a great team great work. Coming up a battery with Cutting Edge Technology that could help produce bigger amounts of energy but with a much smaller Carbon Footprint. Time for a clean start when we return from this quick break h. O have any idea . That they can o sell their Life Insurance policy for cash . So theyre basically sitting on a goldmine . I dont think they have a clue. Thats crazy well, not everyone knows coventrys helped thousands of people sell their policies for cash. Even term policies. I cant believe theyre just sitting up there sitting on all this cash. If you own a Life Insurance policy of 100,000 or more, you can sell all or part of it to coventry. Even a term policy. For cash, or a combination of cash and coverage, with no future premiums. Someone needs to tell them, that theyre sitting on a goldmine, and you have no idea hey, guys youre sitting on a goldmine come on, guys do you hear that . I dont hear anything anymore. Find out if youre sitting on a goldmine. Call Coventry Direct today at the number on your screen, or visit coventrydirect. Com. I remember being on aau trips, high school games. My mom would always say, you need to fuel the body and you need salt. I would always be the kid not cramping, ready to go. Fast forward 20 years and i go from eating salt out of my palm to drinking lmnt. What if we live to 100. I dont want to outlive our money. I keep eating all these chia seeds. I could live to be 100. We work with empower, even if we do live to 100 we dont have to worry. Eh, not worried. Take control of your financial future to empower whats next. With gold bond. You can age on your own terms. Retinol overnight means. The smoothing benefits of retinol. Are now for your whole body. Plus, fastworking crepe corrector diminishes wrinkled skin in just two days. Gold bond. Champion your skin. Welcome back the market for vehicle and home batteries expanding exponentially. But there is another battery opportunity that is just barely getting off the ground diana olick joins us to explain in her continuing series on climate startups. Hi, diana. Hi, tyler yeah, heavy industry requires a lot of energy, and reducing its Carbon Footprint is a tremendous task one way it can be done, largescale batteries that go beyond what vehicle and home Battery Systems are capable of textiles, food, chemicals, cement, all the things we make require massive amounts of energy for power and heat. Factories can use energy from wind and solar but since those are intermittent and not always nearby, they require large batteries that are both difficult and expensive to produce. Now Companies Like form energy, atmos zero and a startup called antora are tackling the technology weve developed a new class of battery which is a thermal battery which Stores Energy as heat instead of as electric ochemistry or electro chemical bonds. Reporter electricity from wind and solar are run through coils like in a toaster to heat solid wellinsulated blocks of carbon to over 3,000 degrees fahrenheit, storing a tremendous amount of energy the blocks can be shipped cold in a battery module to the factory, where theyre then heated theyre now being tested at an Electric Company in fresno, california were just Getting Started and the cost to produce these are still relatively high. But longterm these can be an order of magnitude less expensive than a conventional battery such as lithium ion. Reporter clean energy is of course a top priority for climate investors and this one could be particularly lucrative. We think its a multitrilliondollar Market Opportunity that addresses 40 of all Industrial Energy and its because antora is one of the few companies that were working with that has Proven Technology and is ready to scale incredibly quickly reporter along with Breakthrough Energy antora is backed by lower carbon capital, shell ventures, bhp ventures, grok ventures and trust ventures total funding so far, 80 million. Years ago this field was basically empty but now there are about a dozen thermal Energy StorageCompanies Using either sand, rock, brick or other types of ceramic to store energy as heat it just shows that there is a lot of momentum in the space, which is good because the industrial space is huge back to you guys and we have been reporting on that that was great, diana olick. Thank you for joining us more than 30 years have passed since the landmark americans with disabilities act was signed into law and yet decades later just a fraction of employees with disabilities disclose them to their employers. Were going to dig into why. Anhod w Corporate America can help change that when power lunch returns welcome back this weeks marks 33 years since the disabilities act was signed into law while most companies encourage employees to disclose their disability, a new report shows not many do. Why is that . Of the 485 companies that were surveyed by the nonprofit disabilityin, 93 encouraged employees to selfidentify having a disability but only 4. 6 of employees at those firms are disclosing another survey found the prevalence of people with disabilities in the workplace is about 25 . Many employees may stay silent fearing stigma or losing out on a job or promotion but to rob koch, deaf and a manager at a consulting firm, the first hurd sustainable getting in the door. A lot of hiring managers typically like to hire people that are similar to them so thats the challenge that we have to overcome h. R. Leaders say companywide initiatives to increase awareness about disabilities can make a difference. Wed be excludeing a huge pool of potential employees if we werent focused on that population and not just bringing them in the door but making sure they have the resources and comfort they need to feel included and want to stay after an Awareness Campaign at the new jerseybased Energy Company pseg, the percentage of employees who selfreported with disability tripled making it accessible, making people feel like they are a part of the organization included no matter what seems to definitely encourage other employees who may not have said anything yet to disclose the disability so that company is a good example of where this is having a positive impact, having the outreach with the workforce. Are other Companies Taking steps to do something similar . Companies are doing things, whether in their communication with working with employee Resource Groups and trying to get people who have disabilities and are part of that group talk to the wider workforce, having Senior Executives with disabilities talking but the key is to develop the trust in the workplace that you can come as your full self to work nm thats done, a lot of people wont im curious you said 4 selfidentify as having a disability, where up to 25 may actually have one. Yes what are the kinds of disabilities that are not being reported to management or not being disclosed . Any type of invisible disability if you cant see the person in a wheelchair, you cant know theyre deaf or blind. They may be neurorodi divergent. All that the ada requires is having a known disability for the workplace to provide reasonable to accommodations theres an opportunity for people to get more assistance than theyre getting people are just afraid of missing out on an opportunity. A hearing deficit thats not readily apparent to a manager, for example. Exactly thanks very much. We appreciate it still ahead, barbenheime making a splash. Well discuss that and go from pink to gray and all the shades in between powering Sustainable Growth in a changing world. Powering Financial Solutions that transform industries. Powering innovation with access to capital. Powering critical decisions with precise data and insights. Powering seamless execution in evolving markets. We deliver our entire global bank to power new possibilities for you. Barclays corporate and investment bank. Powering possible. This is ge aerospace, advancing flight for future generations. Welcome to a new era of flight. I did have hearing aids from another company. I was just frustrated. I almost gave up. With miracle ear its all about service. Theyre personable. Theyre friendly. Im very happy with them. We provide you with a free lifetime of aftercare. Meaning free checkups, cleanings, and adjustments. I see someone new. Someone happy. Its really made a difference. Call miracle ear at 1800miracle and schedule your free, no obligation hearing evaluation today. Ah, these bills are crazy. She has no idea shes sitting on a goldmine. Well she doesnt know that if she owns a Life Insurance policy of 100,000 or more she can sell all or part of it to coventry for cash. Even a term policy. Even a term policy . Even a term policy find out if youre sitting on a goldmine. Call Coventry Direct today at the number on your screen, or visit coventrydirect. Com. All right. Weve got about a couple minutes left in the show, maybe three. A few more stories you need to know about the Barbenheimer Box Office not disappointing at all last week we talked a lot about the hype around the movies and whether they would live up to the hype it seems they did. Barbie tallied around 155 million during its first three days oppe oppenheimer, 235 million. Julia boorstin, its not just u. S. And scan da box office. It was big, Global Box Office as well here. Thats right. I have to say im going to update your numbers. The estimates for the weekend were originally 155 million for barbie. They added 7 million because so many people came out to see the movie on a sunday night. This has been an unexpected and unusual phenomenon to have a double fee chaur this an estimated 200 Million People bought tickets to see these two films as a double feature. Certainly nothing that either film could have intended when they first conceived of these films years ago. Really a confluence of a number of factors that shows interest 234 in getting back to theaters. You would hope there would be momentum behind this all the people saw trailers which means they might be encouraged to come back and go to the movies. How much did hollywood need this, julia . It needed it a lot. We look at the up Summer Box Office period from may 1st to now. Up until the past weekend the Summer Box Office starting may 1st was down 7 from a year ago. This weekend its up 1 . This could be a turning point. Well have to see how this plays into the future content pipeline too julia, next up, byebye birdie, elon musk ditching the bird and putting out an x. Video, messaging, banking. Elon musk said tweets will be called xs Going Forward. No official word it feels like what musk has been saying he was going to do. He likes the letter x. Im not sure about the concept are you xing instead of tweeting you posted x im not sure how that works. I want to read a line from linda yaccarino. We will continue to delight our audience, saying theyll create a global marketplace for ideas, goods, services, and opportunities. Whats to watch is role that commerce and payments will play in this new x app. Julia boorstin, thanks for joining us major averages are higher. Ill see everybody on closing bell overtime. Good to be with you you too thanks for watching close cl. Im Brian Sullivan in for scott walker this makeorbreak hour begins with a win streak that just wont quit the dow on track for its 11th higher day in a row. That is the longest substreak in six years, and we are closing in on the alltime record of 13 higher days in a row for the dow set all the way back in the halcion days of 1987 heres your scorecard. The most important hour of the trading day im told, the last, th