And the ceo who has been to space. He started his company at just 16, took it public three years ago, and shares have doubled years ago. He joins us live ahead before all that, lets get a quick check on the markets session highs, its better than the red we saw earlier dow is up 42 nasdaq up 53, outperforming as we await results from apple and amazon after the bell. The biggest moves are once again in the bond market today, with a massive treasury supply surprising and unnerving investors. The green number, 4. 17 on the tenyear is what we are looking at on the 30year, just under 4. 3 , nothing compared to where bill akman thinks it will go. Maybe to 5. 5 . He said hes shorting it so for more on how investors should position from here, my next guest has played the market well so far. He continues to be pullish and still sees some undervalued names here joining me is the chief Market Strategist at hennasee funds neal, welcome back thank you we spoke earlier this year. You said dont be concerned. Where are you looking now . I think its still a value market out there you have to look everybody is looking at the market long in the tooth, kelly i say no, simply because the s p, you know, is up 27 its really up only 10 if you think about or actually 7 if you think about taking out eight stocks, the same way with the nasdaq its up 37 for the year, but would only be up 10 approximately if you took out the microsofts, the facebooks, the nvidias. You take the googles those eight companies you take them out and youve got a normal market so its not up as much as people think it is, and looking for a collapse so im still looking at value, at companies that still have low price sales compared to other companies, meaning less than 1. 50 in sales is what we are going to start to look at, so you can look at a lot of good companies, academy sports, others that have great earnings and dividends that can be raised academy sports, thats one we followed quite closely they have a new ceo now and they are nervous whether that can continue but you say dont fear i dont think so, because you have a price to sales ratio of approximately seven. The dividend is very well covered. Theyre earning tons of money, 2. 50. Nothing is going to change the leisure market, especially outdoor leisure market, is going to continue to grow, because that during the pandemic really got into the americans blood stream so they want to continue to go out and explore the outdoors and fish and hunt and camp theyre right there with almost 300 stores to capitalize on it, even Going Forward so graphic packaging we dont talk as much about, some of your other top holdings, again, were in the mid cap part, i see auto nation on here, as well. Do you get concerned about recession, about downturn . No, i dont think everybody has been looking for the last couple of years talking about a recession, but people dont realize, the number one component of a recession is high unemployment we do not have that. That number is down at 3. 6, 3. 5 , and we cant fill all the jobs the second big thing is economic activity, and that has not slowed down. If you look at the Largest Companies out there, theyre now committing at least 15 of their cash flow to cap x expenditures. So theyre trying to now exploit their businesses Going Forward by putting more money into it. Those are the two factors. I dont see a recession whatsoever that said, a lot of us i guess the whole point, is to try to go, okay, i just want to know when the recession is about to start and ill get out before everybody else does, or maybe ill rotate. I dont know how you typically play these cycles. I think, kelly, its the old adage, if you buy quality and hang onto it, youll be fine over time. Thats no different than the stock market than it is in marriage so its very simple buy good quality, hang onto it, and dont worry about it theres a lot of jokes i could make, but im going to leave that right there thank you for your time for joining us, and just getting the pulse on the economy we appreciate it thank you, kelly. Now to one of the biggest movers in todays session, shares of the freelance job platform are at 42 and on pace for their best day since november of 2020 this comes a of the company swung to a surprise proficient nit the last quarter, and upped its fullyear guidance for more on this and what it tells us, maybe even about tomorrows big jobs report, we turn to ceo hayden brown great to have you back here. Welcome. Thanks, kelly great to be here what drove this kind of surprise to the upside last quarter, whats going on we delivered a great q2 we had a strong top and bottom line, 168 million on revenue, a 10 growth, and really strong on profitability, as well 14. 4 million, and we raised our top and bottom line guidance for the rest of the year this is evidence of our commitment to strong, durable growth with this business, which we always know we can do, and investors see were delivering on that promise. Let me put it this way. Would you say your results are driven by macro or mike cro last quarter . Or was it we executed better on price hikes or cost discipline or some personal Company Specific stuff we delivered a great quarter because our team was focused on driving profitability for the business and executing with customers on the needs that they have, even with this economy, customers continue to need freelance workers, they need people for those generative ai projects, and every other type of worker. We have over 125 categories of work on our platform, and we executed really well to deliver talent to companies of all sizes through this quarter thats interesting. So is the sort of the marketplace for ai skills driving a lot of engagement on your platform . Yeah. In total terms, this is a small area for us. In terms of the growth, we saw a 1,000 increase in generative ai job posts in q1. 1500 growth for generative ai skills and work on our site. So we are seeing tremendous appetite from clients who are looking to find talent to deploy generative ai models, figure out how to integrate this new technology into their website, the services theyre building for customers. This is certainly a small piece of our overall business. As we think about the future of our business, and the fact that every business is trying to figure out how they can use this technology, these businesses are coming to us as the destination for those skills we also announced a partnership that was very exciting with open ai, just this past monday where open ai and upward has teamed up to bring to market the talent that open ai customers need, specifically that we have put together to offer their customers to really get the talent they need from upwork to deploy those technologies into their enduse cases. I can see why investors are excited, especially if you add to the list of companies that could be ai plays, although the stock is not where it was a couple year as at the height of the pandemic but what would you say you are seeing in the labor market because it seems like the labor market is getting more traditional again, okay, we see, you know, full employment to population ratio, those backtonormal things. But i hear your results and it feels like theres been a permanent shift in behavior out there. It definitely is a quarter of mixed signals for customers in terms of how theyre navigating this macro larger customers continue to operate with some level of caution. They are experiencing budgetary caution, they are still exhibit ing sale cycles, and yet our team was executing better against that backdrop. In the marketplace side, we do see a lot of resilience in that side of the business, which is consistent from the adp and other jobs reports that are coming out true. I think customers are more confident in this economy. Amazing, given they would face 9, 10 borrowing costs and to circle back, you wonder how much ai has i dont want to say masked, because its real but has compensated for what we have seen in the business cycle. Microsoft or other Major Players have talked about this, the enterprise demand for cloud, its rationalizing, its slowing, but at the same time, Companies Know they have to be in the ai race its fascinating how that is coming at just the right time. Absolutely. I think businesses of all sizes are definitely leaning in to figure out how this impacts our strategies, how they can digitize their businesses around this we did some research that showed 64 say theyre going to hire more because of ai, not less we see thats the companies that are moving the quickest in the space are mid market size companies, adopting the technology fastest, putting it to work the fastest. So youre right, every business is trying to figure this out some are moving faster than others but certainly its impacting everyone in the landscape. Fascinating thank you so much for joining us appreciate it today. Thank you, kelly. Coming up, apple expected to post its deepest Third Quarter revenue drop in seven years. That sounds dramatic, but its just 2 . The question is when will they return to growth were live in cupertino with more details and wall streets take and our executive exchange continues with a trio of ceos still ahead, including wyndham and portillos. And lets get a quick look at the markets. The dow up by 50 right now the nasdaq, up 42. Theres the tenyear note on the right, at almost 4. 18 the exchange is back after this welcome back to the exchange. Apple rallied almost 50 this year, though its slightly down today. The market cap is over 3 trillion since june, but its about to post results for what is typically the slowest three months of the year the street expecting a little under 82 billion in revenue for the quarter, 2. 3 year over year decline. Is it a fluke or will topline growth remain challenging . Joining me is martin yang, who covers tech at oppenheimier, and steve kovak. Steve, youre there, youve got to be there to get the results i guess my question would be a little about this revenue decline. Just broadly give us what people are expecting. Sure, kelly this is going to be most likely the Third Quarter in a row that apple has guided and estimates are revenue decline. Thats because of a lot of headwinds that they have been facing demabldz is falling in the u. S. , in china, theres another important market and we hear this story coming out of emerging mafgt markets le india and indonesia. But what you should Pay Attention to is the outlook, because the question going into todays earnings is whether or not apple can return to that growth after the three down quarters so any kind of bullish commentary we hear out of tim cook and his executives on what they are seeing, after we have gotten so many positive data points in recent months. Also on the china side, which is the opposite story, we have seen so Much NegativeEconomic Data points coming out of there, and how that all shakes out. Again, of course, in september we are expecting new iphones to get a couple of weeks of new iphone sales at the end of the current quarter. Marten, what is the key driver for the stock here . The key driver for the stock is for this year is no longer going to be the sales, coming out of covid. [ inaudible not as strong a product cycle as they have in the past two years. We are expecting apple to make comments regarding the limitations in the coming years beyond the fiscal year. So when do you think theyre going to return to the topline growth, and does it matter return to topline growth doesnt matter in the near term but does matter in the longer term if you look at apple, the iphone prices [ inaudible coming out of this lull from covid. I think it matters beyond the sixmonth period and in the next three to six months it doesnt matter as much quick last word to you, steve, what else are you going to be focused on yeah, services. On the outlook also, Morgan Stanley expecting the services to return to that double digit growth, and any commentary from apple about the install base, because thats the key for services for all those users, how they can charge them more for all the various services we have been seeing some resurgence on the Services Side from others that reported last week, other tech names, advertising seems to be coming back a little bit. Thats important for the app store and even gaming coming back nintendo reported incredible results earlier today. If gaming is coming back, thats great news for the app stores and services thank you so much, steve. Coming up, this industrials name has more than doubled to start the year hitting a new alltime high. This is not caterpillar by the way. If you think you know what it is, tweet me or whatever and we will reveal it later on and what the ceo is saying about the macro environment ahead. And here is a quick glimpse, intel and chevron leading the way today with caterpillar with honeywell and salesforce among the worst performers the index is still higher by about 50 points. Back after this. From big cities, to small towns, and on main streets across the us, youll find pnc bank. Helping businesses both large and small, communities and the people who live and work there grow and thrive. Were proud to call these places home too. Theyre where we put down roots, and where together, we work to help move everyones financial goals forward. Pnc bank. fan 1 there ya go thats what im talkin about josh allen is this your plan to watch the game today . hero fan uh, yea. I have to watch my neighbors nfl sunday ticket. josh allen its not your best plan. But you know what is . Myplan from verizon. Switch now and theyll give you nfl sunday ticket from youtubetv, on them. hero fan this plan is amazing josh allen another amazing plan, backing away from here very slowly. fan 1 that was josh allen. fan 2 mmhm. vo for a limited time get nfl sunday ticket from youtubetv on us. A 449 value. Plus, get a free Samsung Galaxy s23. Only on verizon. We planned well for retirement, but i wish we had more cash. You think those two have any idea . That they can 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. Welcome back to the exchange. Putting together a rally as we move throughout the day. 64point gain for the dow, fivepoint for the s p nasdaq up a third of 1 . This is especially interesting, because its not as if Interest Rates have moderated today we see upward pressure on the tenyear across the long end in particular almost 4. 18 really. But not much of a headwind here today. So many movers to get to, and so little time. Lets start here, leading the s p after a beat on the top and bottom line, shares up 9 today. Elsewhere and to the downside, this is the worst name in the s p. 30 drop now for these shars lowest level under 19 they posted weaker than expected sales and slashed its annual revenue forecast and expedia is the second worst name, having the worst day since the start of the pandemic, a 15 drop here. They beat the bottom line but fell short on revenue and bookings again, a lot of people had their chips on the travel trade. Not working out well for expedia today. And someone is surging after posting a surprise profit in q2. The stock is upgraded to a buy with a 60 rally after todays 11 move again, solar has been volatile lately, and today, a bit of a rebound. For more on that analyst call and the biggest calls of the day, go to cnbc. Com. And now to tyler mathsen thank you very much former President Donald Trump left his private golf club and home in bedminster, new jersey moments ago and will fly to d. C. To face charges that he led a widechanging conspiracy to overturn the 2020 president ial election among the charges trump faces, conspiracy to defraud the United States, conspiracy to obstruct an official proceedings, and conspiracy to not have ones vote counted he will be fingerprinted but no mugshot. General motorss robo taxi unit says it signed the driverless car industrys first labor agreement. And queen fans who see eddie mercurys personal items on display before they go up for auction. It includes stage costumes, hand written drafts of Bohemian Rhapsody and a piano expected to go up to 4 million nice thing to have in your home. Kelly, back to you i would be afraid to break it coming up, we are talking hotels and hot dogs with the ceos of wyndham and portillos. And a special edion itof Earnings Exchange is next we planned well for retirement, but i wish we had more cash. You think those two have any idea . That they can 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. Welcome back to the exchange. The ism Services Report came in slightly cooler than expected this morning, with employment in similar almost contracting last month. If you are scratching your month about why, perhaps my next two months can shed some light portillos had disappointing results today, while wyndham reported a beat on earnings.