>> that does it for the stock draft and you can follow all year long on our website and stick with power lunch and we will update the standings and check with contestants and thanks to all contestants. >> we will see you tonight. the closing bell starts right now. welcome to closing bell and i am rod sullivan and for scott and we are live at the new york stock exchange and we bring with the gdp and maybe a little part of that as well and investors have a mix of growth and inflation and what it could all mean for possible rate cuts or rate hikes in the weeks and months and quarters ahead and here is your scorecard of 60 minutes to go. there is a lot of red on the screen but markets are well off

the low with the dow recovering a bit and it is down about 1.1% but the dow was down 707 points earlier in the session so we are well off the low and here they are heading a five-month high ticking its way back forward maybe 5% and we talked about last night the lackluster revenue outlet for meta-with declines across the sector and we have microsoft and alphabet down as well and that is ahead of their earnings and they are due out after the bell in the last call us at 7:00 p.m. eastern and the bright spot today is semiconductors, what else, video moving up and ever core reiterates and intel also getting ready to report in overtime as well so we do have a lot to do and anything can happen. by the way, are all-star analyst will join us shortly and i think it may be the first time here so look forward to having him on set to talk about those numbers and all of this

bringing us to the talk of the tape and a little higher for longer and maybe a slowing economy and pretty high capitol gains tax proposal not getting as much attention but it derailed the rally we had but let's dive in and we have this ahead of research and here joe as well and then our senior economic reporter steve and that is where we have to start because gdp is really the three letters that seem to define the day. >> yes. i think it is right but there are different aspects. i don't know the extent to what the market is it expecting with that and i do think the miss on the growth side isn't the most worrisome part. in fact, i like what i saw there in the sense there was a big subtraction from inventory and it is very normal by the way to look at gdp in this respect and to see how this is going for consumer spending and if you look at real final

domestic purchase it was down and that is more or less the soft landing they are looking for but what wasn't and here are the numbers by the way and you can add those up on the bottom left and add that back to gdp if you wanted an idea of where it could've been if not for this big subtraction. so the real story is the inflation story and those numbers came in hotter than expected but there is an asterisk we can use and we can't answer that until tomorrow morning and the story is this. we do know inflation in the quarter was higher, but where and when? what we will look for tomorrow is was january and february hotter than we expected with those upper divisions or was march hotter? if it is march, then the selloff makes sense and maybe there is more to go because it means the inflation problem, we knew we had it at the beginning of the month and continued it and it was worse than we expected at the end of the

quarter. that is what we are looking for and if march is subdued and comes in 03, i think we are okay. 04 is another story and we have the continuing inflation problem and the idea of the said cutting rates extends further into the year. >> when is the next meaningful data point. pc is massive, but after that what are we looking most at? what are you looking most closely at? >> you know like a good father i love all of my children. >> yes. there have been more children we had to watch lately of course and we didn't make such a big deal of the inflation component of the gdp report so it does change and it makes it interesting but the friday employment number is the one we are looking for and looking again for that gradual weakening on the activities side of the economy and looking at the wage side to see if there is danger there and higher wages are pushing up and

moving inflation. >> summer newly adopted i think and we're looking at things we haven't looked at recently before and they brought that in the last season of brady bunch. thank you because everybody was too old. thank you so here is the perfect set up and let's get a reaction and maybe what to do. and i will start with you. honestly i don't think enough attention to this capitol gains proposal we had and i think that is sprinkled in but the gdp is getting all the attention and steve laid it out nicely and what is your take? >> i do agree with steve's the point that the gdp number did catch people off guard with the core price and that basically a hot number year-over-year much it will come down to the revisions which everyone does expect and i think there is also a disconnect between those cpi numbers we see and what we hear from companies or even consumer surveys and injustice

first-quarter earnings season the mention of inflation is a problem is at the lowest level since the first quarter of 2021 and it does make me wonder how inflation accelerates and fewer companies are even mentioning it is a problem. i do think there are catalysts in the next few weeks and the first one of course is tomorrow to see really what march inflation looks like, but i think the earnings backdrop has been very supportive with 80% of companies doing this so as painful as the last few days have been in the last few weeks i think it is the risk rewards positive. >> so the firm landing is here in my opinion? we did hear from whirlpool and harley-davidson and that they are having difficulty passing through rising input costs to the consumer and that is in a bad thing and if you look at the price action today, right now, where we are in the market, we have recovered everything we lost after the gdp

and inflation figures were released so we did recover at all and this is really where we sit in the marketplace right now off of meta and the spending attributed to meta. i think the rest of the world is experiencing a dis- inflationary trend that ultimately will get exported here to the united states but if you look at europe, you're talking about inflationary readings whether it is france or germany and italy is at 1.2 with asia in outright deflation and that is coming here and i don't inc. it is a bad thing. the premise for buying equities in 2024 never was about the fed has to cut rates. if it was cut at the beginning of the year when it was seven rate cuts priced in, now we are pricing one rate cut, the equity market would be lower. and we are actually higher. >> we member the super bowl with the falcons and the

patriots and we were up like 100-0 at halftime and then brady comes back and wins and then can we acknowledge the stock market is up this week and even today we are higher for the week and we are only a percent or so off of all-time highs and marketed it as a big down day and profit margins are strong everybody wants to focus on the economic recession that never happened in the real recession that happened that matters most is the earnings recession and we have come out of the earnings recession in the second half of 2023 for the s&p and nasdaq and waiting on the russell which is a catalyst. >> we do have a few big names tonight and we will get the ends take on that but what if microsoft and alphabet soil the sheets and is that the family- friendly term? and then what because meta kind of did. >> it was up 40% into the earnings report so i do think the expectations were high and i think there has been a reset.

i think that if there is a beat we could see stocks rewarded and overall it's a good earnings season with 80% of companies beating and if you exclude energy you're pushing up against double digit earnings growth so it is what jill was saying it's been a pretty good earnings so in the second half of the year healthcare no longer has year- over-year comp so you can be back in here. i think it is supported and they are still trying to cash in on the sidelines. >> we do get some good numbers tonight but more importantly i think good guidance and forget about this and that is good and this sort of many market panic could come to the end. >> i do think part of this is as steve was saying the inflation. market's perception of inflation isn't clear because i

think there are a camp of folks that think it is re- accelerating and i think the march cpi fueled that narrative so maybe april is the tiebreaker which is it for a few weeks but also it doesn't mean you have to wait forever to get an idea of what is going on. >> all right. a very different backdrop and thank you. we still have joe here who is bringing in the aforementioned because maybe a lot is riding on microsoft and alphabet. >> it's probably the most important of all when you look at microsoft and alphabet because it gives the ai revolution and this is really what i view as more of a drop the microphone moment for tech to show where the spending is going and i think in terms of what is happening we expect that and when you look at alphabet, digital advertising is strong and the crowd story is still not being factored in

and i do view this for tech and this will be a flex their muscles moment. >> if it is a drop the mic moment i will tell you this if we are talking comedy or music shows we can tell you the opening act meta got hit by tomatoes and they didn't perform and the audience booed and this could change the narrative and tonight could change the narrative. is anybody more important than the other? do we care on a macro level? >> they are spending like a 1980s rock star but what are they spending on and who is benefiting? it is redmond and google and amazon and others and i view that spending and the stock comes back a bit but this speaks to the baton being handed from the godfather which continues to be in a mass position of strength to software and now you see the use cases and modernization. and it's the most important stock and it's been that way and it was that way last year and i have often called the patrick mahomes of the stock market.

when you hear what you heard last night from meta and what dion is suggesting we will hear in terms of spending on ai, what you are really gaining insight toward is the ai halo is still present and look at that today and the price performance and look at the other names when you drop down from that and you look at this and these stocks are hired today and i think that is what is important and i will say something. i am not wildly bullish and i think where the market is right now is we will be running to a lot of different places and ultimately ending up in the same spot before at some point we resume the prevailing trends. >> i wonder if nvidia today and not because people were optimistic on some of these but it was a haven and as things sold off -- >> no. >> let's go back to the tried-

and-true. >> that was spending that much and whose chips do you think they are buying. >> they are years out and they are sold out and that is been the story every quarter that they won't be able to meet demand but they do and they have been meeting demand and until they tell us that they are stumbling and the supply challenges are present, you have to believe that nvidia will continue to earn. >> he makes a good point because if you follow the breadcrumbs what we will see from redman in terms of microsoft and those other areas a look at alphabet now what is that? is it consigliere he? but ultimately the two most important in terms of jensen and the other but now it's the second or third or fourth derivative and look what's happening and look at the rest of the software and what will be infrastructure. that is why tonight is the

night and it shows where the spending is and if you could see the forest through the trees, it is still the early stages of this next market. >> you said tonight's the night and i went a few different ways and i thought rod stewart it's a beautiful song and uplifting and then i thought neil young which is the dark album and things are dire. but you are on the rod stewart version tonight? >> you are bullish tonight and i am making a real point with microsoft, alphabet and it will be good. >> tonight the knicks will win and tech earnings will be strong and i think eventually what you will see is that this is the pound the table moment where they show the modernization here and not hype and that is why when it talks everyone listens. >> is there something they have to say like a strong demand for chatgpt? >> what do they have to say about the future to make you even happier. >> it is about what adoption

looks like and a 30% type good number and what that adoption curve looks like. if you start to see new della and i think much more significant than they expected, that shows this title wave of $1 trillion of spending and it's coming to the rest of tech. >> to your point we talked about whirlpool and harley davidson and looking at these mid-level consumer stocks in the middle class is struggling and there is a big gap and a market have and have not and ai is a habit and anything related to middle class could ultimate lee -- altar is down 21% since april 1. >> without question and the only place that seems to have the positive momentum in the consumer sector is chipotle which is really because and i say this with all sincerity.

they have won over the hearts and minds and bellies of generation z. generation z is all about chipotle. i think we are in a place where right now we do see the economic effect which is why i think the readthrough over the coming months isn't going to be as strong as it has been in prior months which doesn't extrapolate and means the market goes quickly. >> candy assumer -- can the consumer economy like parts of the market they are disconnected? >> without question. the market moves higher in a nice think in that recipe the federal reserve is ultimately able to adjust monetary policy to more accommodative and i think they are restrictive and they have two tools to use lowering the fed funds rate and also moderating the pace of quantitative tightening and don't be surprised if that comes first. >> an excellent point and nobody ever talks about that

but they say they have a lot of tools in the toolbox. >> great stuff as always. >> speaking of semiconductors. here we take a look at some of the biggest names moving in and it is your people in your grou . >> unfortunately i won't talk about that right now because you just did it and i will talk about caterpillar because those shares are tumbling and after the instruction -- construction maker trailed in the numbers showed a slight revenue and sales decrease from your before which the company attributes to lower sales volumes and second quarter guidance is an encouraging and the company project a sales decline from last year so a lot of projections downwards and they are down 6% right now. and here they are having a better day with the gold company notching its higher share prices in july after topping the first quarter expectations and this comes against the backdrop of the new

almost 14% in tonight's the night and i will have intel later. >> we will find out if you are giving the rod stewart or the neil young because they are very different things. >> everybody is all in the rod stewart. >> we are just getting started here and here you may have heard about them having the were staying over a year but one top believer is pulling the . and still a believer and they will make his case after the break and we are live at the new york stock exchange on this thursday. we are back after this

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investors of buying it back and joining me now is josh and i guess the thesis is what we talked about which is they are spending a lot of money because they do expected to pay off someday and i think so do you. >> thank you for having me on. it is an interesting history with meta. they made some of these really large investments if you think to video and at first there are a lot of costs so little bit painful but over time they have proven a really strong return on investment. so what i see happening today is this cycle that is very early and they are really doubling down on the ai investments so capex is up as a some of the op mac -- op ex.

it could open the door for meta. it's always been a consumer platform and i think they are successful with these initiatives, they could be in the discussion around enterprise software and around huge infrastructure and this has been massively successful for aws and i think it is worth the investment so a little bit of pain today but i do think in the long term oriented investor, i think this is especially a great entry point. >> by the way, i do want to do a quick assignment with the macro markets. it is an impossible but it's only down a half percent and we have 40 minutes to go and meta as well off as well and you wonder if it will be drug out kicking and screaming but i want to know while they are down they will off the lows and at one point they were down 707 and it's down 311 and let's go

back and when you look at this ai buildout, how do they make money? facebook is a free product and a lot of advertising dollars and they do get it but is there some other strategy that mark zuckerberg is thinking about? >> yes. he really spent a lot of time on the call and it could be very aggressive and they see opportunities and he went through a number of ways they could potentially monetize ai. so far it's just this but it's driving consumers to spend more time and that has played out today and in the future he outlined a few initiatives and business messaging is one of them and the one i think it is most interesting is they could use ai to enable customers to pay for bigger ai models and

compute. when you think about meta, you don't think of open ai model but if you look at some the benchmarks, all of a sudden they are at the very top of the list and the top five by some comparisons and what you can do is start to charge or develop using the model and you can potentially bundle to compute and if you look at some of these you have seen from the likes of as your -- is your -- azure. it will take time but if you're at that level and you want meta to remain relevant in the future of this revolution, you have to invest and that is what they are doing. >> really appreciate it and a rough day there. but the stock goes up and by

the dip and you get a lot of money. thank you. up next, we will talk about intel which is having a rough year and investors have been struggling and we will find out what tonight means for intel what tonight means for intel and stacy is here next tamra, izzy, and emma... they respond to emails with phone calls... and they don't 'circle back', they're already there. they wear business sneakers and pad their keyboards with something that makes their clickety-clacking... clickety-clackier. but no one loves logistics as much as they do. you need tamra, izzy, and emma. they need a retirement plan. work with principal so we can help you with a retirement and benefits plan that's right for your team. let our expertise round out yours.

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let's call your attention to the market because if you skipped out for a few hours because he woke up and 9:30 comes eastern time in the market opens and it goes down and the dow is down and, guess what things have come around and i won't say today is a good day the down -- dow is down which at that price point is 8/10 of 1% and 11 dow stocks are higher and boeing is higher and even intel which goes to our next guest and sitting next to me even intel is higher today with about half the nasdaq 100 led by astrazeneca and marvel the semiconductor company and tesla is higher as well as dr pepper. it was an ugly day late morning that the buyers have come in and i won't say a good day but we are still well well off of the low. let's talk about the

aforementioned intel and we know it has been a rough year with stocks at 30% and you have earnings out tonight with stocks higher and here bernstein and -- stacy rasgon has never been here on tv and i do love being the first so stacy, good to have you. >> thank you for having me. >> i had nothing to do with it it was the production team but good to see you here. intel had a rough year but what are the few things you will look at the most tonight? >> intel has had a rough year and we understand why and look, i will be honest. i don't exactly know what to do with the stock and we have mellowed a little bit and we upgraded it last year and we have been fairly negative for quite a while and they just slashed a dividend and it was book value and it couldn't get much worse and it's come up a little bit but i don't really know what to do. pcs are fairly anemic and

servers may be not getting worse and maybe that's a positive and they don't really have an ai excelerator story. >> not getting worse is not what i want to hear. how is that rash. >> they do have this day and my biggest take away was come back in 2030. so it is kind of a no man's land. and they did say they will be breaking in 27 or 28 and they will have a better model in 2030 but that is a long way away so at this point it's back in funding territory but it doesn't feel like this either but i don't exactly know what to do with it. >> i won't bring politics into it but let's be clear that they are getting billions from the government and taxpayers. and everybody is talking about

the chips act and in my view they should be winning and it is the home team. >> they are and a lot of folks are getting money and it's not just them. but the problems they are having are not solvable by money and you don't throw money at these things. >> but we are. >> exactly. that is a whole other conversation. these are the most complicated things that humanity has devised or built and you don't just throw money at it. they had plenty of money and they could've gotten it and this is hard. >> i know they are talking to john in a perfectly nice guy and never met him but if you had to go back and, by the way, only the paranoid survive is one of the best business books and it's my book-of-the-month club and it is about from one of the founders of intel and they owned it intel inside and if you had to go back and say

where did they botch it? >> the issues they had and it didn't just develop it has been 10 years in the making and they had process technology delays over 10 years ago. their big initiative when the former ceo was a cfo his whole thing is we will take this down to 25% of revenue but the numbers were excellent generating a lot of cash and margins were great. and it was very comfortable. they kind of got lazy. and then they fell on their face and it gave them and others a chance to close the gap and a lot of changes that they missed and they missed mobile, ai and accelerated compute and they are paying for it and when pat said it will take until 2030 they shouldn't be surprised because it took 10 years to break it and it will take 10 years to fix it and i think it always was.

>> a $67 stock a few years ago and it was a $67 stock in the year 2000. >> we are watching tonight away and good stuff. don't be a stranger. safe travels. >> i think morrison said the west is the best. shares of southwest are down in the airline announces it is stopping service at some airports and we will talk more about this and why they aren't loving that news next.

there was a lot of news on southwest airlines today. investors are not loving it. let's turn it over to the hardest working man on tv and definitely here on cnbc covering everything in the last few days and what is going on with southwest? >> they need a reset is the simple way to put it. they reported a bigger than expected loss for the first quarter and bob jordan said, you know what, we have to shut down the markets that were underperforming which is why they are pulling out of syracuse, bellingham, washington, cozumel as well as houston george bush. when you look at where they are, they are being hit hard because they are a 737 only fleet and they had ordered a whole bunch of maxes at the beginning of the year and think

about this. the beginning of the year they expected to take delivery of 8737 maxes this year and you know how many they are expected to get right now? 20. you can't roll your airline in or increase revenue if that is what is happening. for bob jordan, he is in a tough spot and stuck and he has a 737 only fleet and he had to hire pilots and make investments and expected to grow which is in happening in here is what he said this morning when we talk to him about being stuck in the situation with regards to that. >> we support boeing taking the time to fix issues and become a better company because that is good for southwest airlines in the country long-term. there is no doubt this is a significant issue replanning and adjusting schedules and we are significantly down from our originally planned delivery. >> by the way not all of the issues at southwest are related to the problems of getting more max planes and they need to

generate more revenue. to that end bob jordan told us this morning that they are studying and will likely implement changes in terms of how they interact with their customers and what they can expect on a southwest flight. most notably, don't be surprised if you see a change in the one seat for the entire playing and approach they have used from the beginning and is that mean we see a business class or not allow people to pay extra to pick specific seats? all possibilities. bob jordan will likely announce something later this year as they look at new ways to generate greater revenue. we do know what happens with the airlines that have business- class or differentiated sections where people can pay up for little extra leg room or service. they are doing it. that is revenue that they want to capture and nothing announced today but don't be surprised if you hear something later. >> i know frontier isn't southwest but a similar model.

frontier i see is rolling out a business-class type product of its own for people who want that convenience and southwest, since he built this thing years ago, chain-smoking in his office. it's been a unique thing in air travel. is it possible that southwest is realizing we may have to on southwest a little bit. >> the business model has to change. they still have incredible brand loyalty and there are people when i fly around they swear i fly southwest and nothing else and they love they don't pay for bringing bags or bag fees when you go on southwest and there are a lot of conveniences that they do love but what they don't love in terms of the last few years is it is underperforming. if you are southwest and look at the rest of the industry, you realize the revenue that is being generated with changes in the business models and you say

to yourself maybe it is time we change as well. >> fascinating times for southwest and its investors and it looks like you have a flight to catch and we will let you go. >> coming up in about 20 minutes microsoft will rollout their numbers and guidance and we will talk about key themes and the metric that all of you need to be watching as the market closets way back and let's get a check in the averages before we go to break and now the dow at one point down 707 and i have a bunch up and we are still lower but only a half percent and who would have thunk it. or want to explore the space economy? choose from over 40 themes, each with up to 25 stocks identified by our unique algorithm. buy it as-is or customize to align with your goals. all at your fingertips.

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don't forget to tune in the last call the night at 7:00 p.m. eastern. we have a billionaire and big tech investor talking about tech and his positions and why he is optimistic assuming they survive new york city traffic. we are all over today's big market and julie fox is breaking it down and how she is navigating it in today's drop and come back and of course the big earnings which is microsoft and alphabet and there is a lot more to do. guess what is coming up? the market zone. you have been waiting all day and it is next

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we are in the closing bell and julie fox is here to break down what happened. a big reversal with tech earnings trifecta in overtime and you have steve kovach of microsoft and christina on intel but before we get to them some news on paramount. breaking news. alex sherman on this since the beginning and what you learning? >> so there seems to be some momentum in terms of getting a deal done from sky dance media and global which is been a saga for about six months now and i am told the sides are moving closer to a deal and getting

closer toward coming up with final valuations for sky dance around $5 million for new equity that would dilute current shareholders which is why you see the stock down after my report and investors that are common shareholders and not a huge fan because of the dilution but these will remain a publicly traded company with 45% to 50% of the company owned by sky dance and private equity back are so common shareholders can dissipate in the upside after there is a change in leadership and the ceo of this would be david ellison who runs sky dance media and the president i am told will be our former ceo so we are moving closer toward a deal and may be finalized and i am told of things go right there is a major hurdle which is that charter communication the second largest so has to

come up with a renewed deal with paramount lowball -- global. and they blacked out and lost these for about 10 days before deal was reached. >> a lot of questions and no time now but i do have a feeling we will see you on last call. thank you. >> julie fox not just today but a little scary at the beginning of the day that gdp number coming in week and we had some hot inflation data and are we ready to use that word yet or not yet? >> i think the mood is anxious and this didn't help and investors want to know what comes next when it comes to inflation but we are still positive on stocks for 2024 and nothing of the past few weeks in the market declines or worries about inflation or geopolitical concerns has change the outlook. we are sticking with the year- end target on the s&p 500 which

is another gain from current levels so not a huge upside but again when you factor in the mood we had so far we could be looking at this of 10% and that is a very respectable gain especially coming off the 24% gain we saw. >> are you still the yield to rate cut camp? >> we are still in that and we believe that it will cut rates to time starting in september and earlier in the year we were in the three and we softened that and we think the odds of a sustainable really do will be low and we will inc. it won't be as strong as the last few months and also that shelter cost will be reflected in a more favorable way so that is why we still think that they are on the table.

>> i tried to impart this and i know today was scary at the beginning but we were higher and we are like it's doom and gloom but stocks are higher for the week and there is an underlying bit i think to the market. >> i think there is still more upside and earnings will be the key to turning around the root of the market which has been negative and i think it is important to stay invested and we still think there are opportunities and primarily with them and i believe there are pullbacks and other sectors that are opportunities. >> crazy and what is the next most important thing to you? is it corporate earnings or is it something else?'s >> i think we need to keep an eye on some of the key things in the market and we still have the other reports that we have coming up and we need to keep an eye on what is going on

outside of that with geopolitical tension and some of the other risks out there with inflation as we continue to keep an eye on what is going on and with interest rates and the fed. >> appreciate your views and speaking of corporate earnings, we are a few minutes away from the company formally known as google and let's go to deirdre for a preview of alphabet sterling -- earnings. >> these are questions relevant for google as well and when we see more ai monetization any peak and spending. they plan to spend more on this year than last year and as for revenue realization, that largely shows up in the cloud. this gets at this dilemma that wall street has been worrying about and the last quarter this was soft raising questions about competitive pressure and on that note it will be important to hear from the senator and others about how

they plan on rolling out gemini to a broader audience and google needs a new cfo. she moved into that new position of cfo and president nearly a year since that announcement so we will see if they made progress or have anything to announce and finally there could be a small chance but some have been looking for a dividend especially after meta-surprised markets which could offset some concerns around ai spending. >> we go from al the ap as we work our way up and steve kovach here on what we can expect from apple. >> we will do microsoft instead. >> we will do that next week. >> i am just a fill in so go ahead and watch a movie. >> with microsoft we are looking to the cloud and not necessarily copilot to get an idea of how it's making money over there and the growth of azure will be the best hit we

have and the whole quarter was due to artificial intelligence and will be looking for that number to grow and for copilot microsoft doesn't do a good job telling us how well that is performing and that's the ai assisted businesses for $30 per user per month and ellie color -- any color they get will drive investors wild and we have cat for alphabet and like we learned last night there is an increase in expected which could rattle some folks so we will be paying attention. and we will have that a week from today. >> we are still working our way and it was directionally correct and we will go backwards here and did i get into right? is it that way? >> you did get it right. it is. even though they lost 7 billion last year and even more

expected last year the ceo is promising this year is at the bottom and investors are hoping that will be the case as well for the intel other business segments especially pcs and servers because they contribute a lot to revenue and there has been conflicting messages about this and recall that the intel guided q1 below estimates which is what we are looking at and both recently cut for intel and they worry about elevated pc inventory levels but they think the microsoft 12 launch will help the refresh cycle and another area of focus is the server and any momentum from products like that but there is always this fear that they are stealing more market share in this category and then you have some that are down compared to the smh on the year-to-date

basis. >> here as well and we do appreciate it. thank you. i can't hear anything right now. we do have a lot of people here from all over the place and this is what people are referring to as a bell. and now it is -- >> a down be sentiment on earnings sending stocks tumbling with the yield spiking in major averages off of lows but welcome. >> it is a monster afternoon of earnings and you have dozens, literally dozens of widely held companies reporting headlined by alphabet, microsoft and intel along with these and many more. >> we'll have the numbers and instant reaction along