Kelly, so remember last week we were talking about how value was outperforming growth last week that lasted exactly one week today were back at the old pattern and its basically growth and technology virtually over Everything Else theres the dow flattish on the day, but s p 500 still trying to get over that 3032 hump not easy to do, but tech overplaying, the investments, the bank stocks all did very well last week theyre a little lower today amazon had an awful week, down 8 last week guess what, its regained a good part of that loss today. Alphabet, apple and facebook all on the up side the trend is were back where we were the work from home stuff tends to do very well. This happened since that june 8 high we hit, so the pelotons and zoom videos of the world doing very well. What we call the reopening stocks, the travel and leisure stocks, are not doing very well, and we saw this last week fairly consistently for a while earnings, were about 10 through earnings season. We have about 10
An end. The Investment Committee is ready to go. Halftime report starts right now. Welcome. Good to have you with us on this monday. Our Investment Committee at the table. The managing partner in houston, home of the astros. Im throwing you a Little Something there. And cnbcs jim cramer. Jim, you heard carl run down the list, 12 dow components. You want to tell us what you think is at stake this week . I think its an interesting week because there was a lot of pin action today. We had a couple of Companies Report very good numbers. Lets look at let me give you one that people should be talking about dov. These were very good numbers. We also had what i regard as being an important tell again. I wish stephanie were here. We both feel United Rentals is a terrific tell of the economy. It was very strong. I use those as the weakest part of the situation has been the industrials. Then you look at coke and pepsi co. You and i both know the ceo. That Company Reported a great quarter. They did
Halftime Investment Committee is lining up with their buy list. And Richard Fisher, and Blackrocks Rick Rieder are with us live. Halftime report with scott wapner starts right now. Welcome good to have you with us our Investment Committee is at the table today. Lets begin with that new milestone for your money, stocks surging to a new record high june now the best month in almost four years. Joe, theres a lot in the market now. Considering 100 prediction for the fed in july. How high can stocks go stocks can continue to go higher and they continue to go higher because west diversification story. We dont have the overattraction to the momentum equity oriented type names youre looking at apple and amazon and netflix that are still below their highs from last september, so last time that we visited these levels, okay, what we experienced was that momentum is where everyone was and it was crowded i think whats you anything and the reason we can propel high they are time the market is focus
Will have an exclusive conversation with spotify se integrate Ai Technology into its product. Lets get straight to our top stories. Stability ai is confronting executive departures, struggling to raise funds and an accusation it has not paid its bill in time. After breakout success the start of faces mounting risks to its edge in the booming field of generative ai. The reporters who broke that story, they join me now. What were the main takeaways that we learned in the course of our reporting . Rachel we spent several months looking into the story and speaking to people including the person behind and accompany that came out of nowhere. Has the ceo that tends to make loose guided comments about things that have not happened yet and the Company Seems disorganized thought disorganized i would say. Ed what put stability on the map, the Stable Diffusion model, what is that a basic terms . Rachel its an image generation ai model. You type in a few words and it will give you back an image or
Isnt lost. It may be found. What do we think about where we might go . I think were still stuck in a range, were battling with the emotions of feeling better, seeing corporate earnings do better than we expect. Were seeing goldman say things like, hey, were decreasing the chance of a recession. Then were fighting the math on it. I dont see how the multiple on the s p gets above 20 times. With that you have a heavy cap on the market. Were stuck in this range and it might take time to get out of it. Investors are impatient. Theres so much we still need to digest. Were digesting 18 months of rate hikes, the fed reducing their balance sheet, the inflation reduction act, unemployment levels that are changing, inventories. Everything is distorted. We want it to happen all at once, get back to high growth but its important to do that. I think were stuck. Joe, are we stuck . I think it rallied from the 4 low. Youve built in a cushion. I think jenny is on to something. Weve priced in the fact t