a lot lower actually, tyler. we're looking at two-year note yields look at the chart of a two-day, you can see how we clearly accelerated when we started trading under yesterday's low yields, and it was prietty much like that on the entire curve when we took out some of the support from yesterday's low yield high prices. we're down 14.5 basis points on a two-year note. if you open up the chart, we're on pace for the lowest yield close since the 18th of april, let's call it five weeks and if you look at a one month of tens, their yields are down as well, about 9 to 10 basis points, which means the curve has steepened, yeah, steepened about five basis points, tens minus twos hovering around 28 basis points if you open that chart up to early april, you can see there's some pretty good support around 20 basis points. many traders are leaning on that support going into that steepening trade thinking that what we're seeing in the treasury markets and what's echoed in fed funds, look at a december chart of fed fund futu

first, over to kelly and a check on the markets. >> thank you, tyler. hi, everybody. we are right near session lows the dow was briefly down below 1100 points and just off that level. the dow's gains in the past three sessions are now gone. it's 31,580. the s&p is below 4,000 in trading today. the nasdaq is down four -- almost 4.5% below 11,500 let's get right down to bob pisani who has more on what's driving these losses today, bob? >> it's essentially straight down for the s&p 500 slow, but steady descent straight down. i think what's most surprising to everyone is the reaction of the defensive names. consumer staples considered defensive stocks and everybody has to buy consumer staples, right? they'll be fine. walmart is considered a consumer staple and shocking some people to see campbell's soup among the biggest losers in the s&p 500. kraft heinz, all what you consider defensive and safe plays even as the economy slows down and apparently not so much and here's where it gets confusing is dollar tree is a consumer staple store or discretionary store. for our purpo

tyler, back to you. >> thanks very much, pippa stevens. so what's behind today's massive move in nat gas and what does it mean for consumers let's bring in francisco blanch at b of a global research. this is like our weekly date we get together once a week fail or not while why today? why the move what can you tell us >> hey, tyler, thanks for having me the market in natural gas is getting very nervous as you know, we have a global energy crisis going on it's just they haven't impacted the u.s. yet, and what's been going on is there's been a big rally in the global price of thermal coal, which is essentially the basis of generation for all our countries, and we've seen coal prices in the u.s. rallying, so natural gas has been getting closer and closer to that coal price rally, and that's been the main trend in the last few weeks. that's really been the main driver of gas, the rallying global power prices and global coal prices. >> so as europe tries to wean itself off of russian natural gas, which it appears it is going to try to do, the p

over to tyler. >> kelly, thank you, and welcome to "power lunch" for this last day of may i'm tyler mathisen, and here's what we have planned for you a critical and rare high level meeting at the white house the president talking with the fed chair as the central bank battles decades high inflation is the administration signaling perhaps that it will accept a slower economy >>> and rising oil prices fanning inflation fears. crude hitting $119 a barrel in trading today. a buck 25, 125 is that next? we've got the ceo of liberty energy here for his outlook on prices and ability to boost production capacity. kelly. >> tyler, thank you very much. was it the meeting between the fed chair and the president? the dow just went positive erasing a 460-point gain today it's up two points, the s&p's up six points the nasdaq 47 right now a midday rally could also be leading the way. amazon, alphabet trying and succeeding in pulling the indexes higher amazon up more than 5% as tyler mentioned, crude is also getting a bounce. it's trading around 117 right now. wow, actually, it is trading below 115 right no

i'm tyler mathisen in for melissa lee. joined by carter werth, mike co, tony jiang welcome. another red day on wall street nowhere near as red as it was midday or late morning, but it finished off the lows of the day after a wild week. here is where we ended the dow and the s&p virtually unchanged for the week the nasdaq down 1.5% we got wild swings every day, carter what do you make of the action, number one

thank you very much. >> kelly and tyler. >> tyler and mr. ferguson, thank you both as well more "power lunch" right after this esg into your investments? at pgim, the pursuit is on for outperformance. as active investors, to outdeliver with customized strategies, integrating esg best practices into our investment decisions. as asset managers and fiduciaries, to outserve, with our commitment to better esg outcomes. join the pursuit of outperformance at pgim. the investment management business of prudential. cal: our confident forever plan is possible with a cfp® professional. a cfp® professional can help you build a complete financial plan. visit letsmakeaplan.org to find your cfp® professional. ♪♪ >>> the 10-year yield crossing 3% for the first time in three years, pushing up the 30-year mortgage rate. let's go to diana olick now. >> the average rate on the 30-year fixed now over 5.5% to 5.55, according to mortgage news daily. it jumped 14 basis points from friday as bond yields surge. mortgage rates loosely follow the yield on the 10

hi, bob. >> hello there, tyler. bouncing off the lows and not convincingly and i don't particularly like what i see in cap tech and look at the s&p 500. we have moved in a range high to low for the last six or seven trading sessions and it's just extraordinary to see those kinds of moves and they've become ho-hum, but they are unusual on a historical basis and watch apple here and it's trading down almost 5% and apple has traded above the s&p typical days and also typically above the s&p technology index breaking down, microsoft is doing it a little bit as well and it's one of the big stalwarts in the markets another thing continuing to break down is cathie woods' ark fund the low on march 20th, 2020, that was the last low was 27.85 and that was a complete round trip for that. keep an eye on the continuing heavy volume on the leverage and inverse etfs particularly around qqq. an awful lot of churning and moving back and forth on these and these are three times leveraged above and three times inverse said etf so a lo

welcome, everybody i am tyler matheson. the market sell-off intensifying this afternoon and here is what we have in the hour ahead. apple down 20% from its january peak off 7% just this week the sell-off spreading from speculative names to tech stalwarts and having implications for the broader market plus, wells fargo souring and i mean souring on electric vehicles, questioning when ford and gm will actually make money selling them we'll talk to the analyst behind the bearish call and his decision to slap both stocks, kelly, with sell ratings >> tyler, thank you very much. hi, everybody. stocks are right around session lows right now the dow is briefly down more than 500 points and it's down 1.4% and so is the s&p to 38.81 s and the nasdaq is down.5%. the yield on the ten-year edging down for a fourth straight session 2.84 and we've been even lower that that at times throughout the day and this is after the producer price index, 11% year over year gain for april and despite high inflation and efforts to control it, legendar

a bit of a relief, tyler relief rally there, tyler. of all of the issues confronting elon musk with the purchase of twitter and the tesla share price that's causing the biggest financial headache and those are over 40% since they announced that stake back in april and the net worth their 70 billion this year and he's barely holding on to the handle with the net worth of $200 million. that $12.5 billion margin loan and that is now gone he needed to pledge more with the loan and he ran the risk of a margin call. he did replace some of that with larry ellison, sequoia and a lot of others earlier this month, but the big question now is where is he going to find this other $6 billion he could sell part of his 55 billion stake in spacex. he could recruit a lot of billionaire buddies or get private equity to chip in. either way, guys he'll bring in more economic partners which could change the overall strategy and the profit goals for twitter all of which or most of which because of the tesla-shared decline and we'll see it on the way up agai

>> tyler, it is interesting. elon musk is a private individual and when it comes to engaging in the public forum ese far from private and what he's doing with twitter is very interesting. wh what i would say about the consortium is not the traditional public equity and it's not buyout money and they have musk listed and whether it's sequoia or bessemer, a private individual high net worth individuals and venture capital. when i think of how that business could be run as a private company, the governor situation will be incredibly complicated. that's going to be a business that will be highly levered and it's not clear there is enough cash to support that kind of diddent and how you have all of those folks in a room trying to make decisions around operating growth and operating excellence and it is very challenging, i've got to imagine >> let's go to your choices and real cash flows and i have to ask what they have in common delta, and alphabet which is your way of getting back into battered tech. >> i would put b

>> hi, kelly hi, tyler. i think the big picture is this is not all bad news and the economy has shifted quickly here from consumer purchasing goods to consumers purchasing services and that appears to be having a reasonably good impact on a lot of inflation indicators. >> well, that said, there's the sort of second-tier worries that it just means there will be more inflationary pressure and services, maybe not to the same degree as we saw in goods, but a stickier and possibly longer lasting kind >> yeah. i think it will be stick year, but the first leg is we should see inflation much lower than 8% or 9% every year the comps get easier and the wage growth is decelerating. commodities appear to be rolling over and the spot rates are down used car prices are done none of these things you could have said in january, so obviously since late february, investors have been looking at the bad side of everything and there's a lot of reasonably good news on the inflation front over the last couple of months. >> let me

>> we know there's five remaining fomc meetings this year, tyler. they've all but telegraphed 250 basis point hike in june and july there is no meeting in august, and nthen they meet again in september. at that point in time, being data dependent, we anticipate they'll see more slowing earnings growth, a slower economy andcertain inflationar pressures starting to subside. as a result, i would not be surprised to see them raised by just 25 basis points in september, and perhaps increase the pace of their balance sheet reductions at that point in time if in fact the fed turns less hawkish than many currently believe, that could actually help support stock price growth potential during the second half of this year. >> kevin, in light of that outlook, what are some of the names that you'd recommend right now? >> excellent question, julia, and i'll turn to our defensive 50 equities trust here at smart trust where we look to identify those dividend paying stocks that have a history of outperforming each time the stock market experiences a pullback three n

tyler was only 10 years old. it was very tough loss for me because he was one of my best friends, tyler, another relatives. even the family dog have all kept devon's ashes on their necks. we all carry devon around. on our bodies to keep him with us to keep him present. angie silva is devon's mother a little bit numb a little bit. violated would you feel if someone went to the cemetery and dug up your mom and stole her really owns his tyler's mother, and was devin step, mom. it just opens up a wound and to think that piece of him is not in the right hands. devin had always been a fighter. he was born two months premature and endured many open heart surgeries. he was diagnosed with cancer on his 14th birthday. i want him remembered as the great and inspiring boy and that he always wanted to be devin always knew his life because short, devin and tyler share the same father. the two women weren't always close, but they say in sickness, devin brought the two mothers closer. he looked at her and he told her i got cance

tyler, thank you very much, indeed. tyler kuster, a professor at the university of nottingham. greatly appreciated. for more now on the eu sanctions we welcome josie dent, center for economics and business research managing economist. can we quantify the impacts the sanctions package, the oil and energy package that has been announced today, will have on the european economy? josie: we have not crunched the numbers yet, but we know it could be significant in particular, for countries like germany, which are more dependent on russian oil than u.k. already we have been analyzing this crisis. sanctions so far are a downside risk. we think on the u.k. economy. in a worst-case scenario it could have our rate forecast this year. -- it could half hour rate forecast this year. they are not going to be equal across european countries, so we see in germany and countries like hungry they are going to be more effective, and we will see over the course of the year how well they ease off russian gas and how that impacts their economy. kailey: you mentioned the impact on the u.k., real cost o

two hours of trading left for the week i'm tyler mathisen, here's what's ahead on this busy hour markets ending a lousy week with a strong bounce-back the nasdaq up 3% is it just a head fake, though, a bear market bounce or the sign that we have hit a bottom and the coast is if not clear, clearing to buy now. >>> bitcoin also rebounding today after a very brutal stretch. all the cryptos are. we'll talk to a man who told us last year that half of his wealth is tied up in crypto. so how's he been feeling these past few weeks kelly. >> hi, everybody markets are firmly in the green as we head into the final couple of hours of the week but it's not enough to offset the big declines we've seen. the nasdaq still the strongest, up 3% as rates rebound, but still down 3.5% on the week even with today's move and still down 25% from its all-time high casinos are the biggest gainers on the day with wynn, las vegas sands and caesars seeing nice jumps. many of the names hit hardest monday through thursday are leading the rebound today, names like carvana, rivian, upstart, which is up about 10% today. s

>> hey, tyler. here and ready natural gas is surging above $9 at one points to the highest levels of 2008 and there are a couple of key drivers to watch high lng exports and a drought in the west which is curtailing hydro power as well as the inability to switch to coal. all of this means that natural gas storage is 17% below the five-year average just as air-conditioning season is about to kick off. it is well off the highs of the day, up about 1.1% here at $8.89 per mnbtu and earlier today it did surge 7% and touched $9.40, but it is still on pace for the third straight month of more than 20% gain. energy stocks are also on the move today conoco, chevron and marathon, petroleum all hitting had record highs. exxon has and philips 66 among those at multi-year highs. tyler, back to you >> pippa, very much. we had a technical glitch from rick and if we can fit him in later in the hour we doll our best the federal budget deficit expected to shift as pandemic wanes. showing the shortfall, the budget sho

let's go now to frank holland for a news update. >>> hi there, tyler. here is your cnbc news update at this hour. a union warns labor disputes can disrupt this weekend if the casinos don't agree to a new contract by the may 31st deadline casino workers are in the middle of negotiations with the nine atlantic city casinos and are seeking quote, significant wage increases to help its members recover from the financial harm caused by the pandemic >>> elon musk met with brazil's president balsonaro and the amazon rain forest he hoped the millionaire how the country protects the amazon. he also said musk's proposed take over of twitter was a breath of hope. >> in what would have been christopher wallace's otherwise known as b.i.g.g.i.e. smalls subway stations will be loaded with limited edition cards honoring the rapper. his life was tragically cut short at the age of 24 in a still-unsolved murder and now back to cnbc's big papa! >> consumers are looking to buy trips rather than t-shirts experiences rather than stuff. but will that trend continue or will inf

i'm tyler mathisen, and here's what's ahead on a busy hour. stocks are whipsawing, equities soar, then tumble, then climb back again the volatility just not stopping our market guests from putting her money to work, stake in the ground, says it's a time to buy. she'll tell us where and why she calls this a tremendous buying opportunity. >>> plus, havoc in the energy markets. that's been a telltale, the bulls now back in control, at least for today. mat gas after a dramatic two-day roughly 20% pullback we'll sort through the chaos and ask an expert if the commodity market is broken. >> hi, tyler, thanks for having me let's start with an intraday of the dow, which was up, and then down, 358 at the low and now we are higher by about 151 points the s&p now up 1% on track to avoid its fourth straight losing session fif we can hold here. the nasdaq climbing 2% outperforming the other indexes. in addition to tech, communication services and health care are the best performing sectors, and the transportation sector is weighing down, csx, union pacific

i'm tyler matheson here's what's ahead on another busy hour. searching for safety, many look to consumer staples and that sector now under attack, too is the group being unfairly punished and is it no longer a place to hide? plus, cheap, mega-cap stocks and well-known names have price to earnings ratios in the single digits these are big-name companies are they a bargain huntser's dream? we'll look for some opportunity throughout the hour. >> tyler, thank you. speaking of opportunity, we have some green back on our screens it was looking dicey an hour ago. a little bit better right now. the nasdaq back in positive territory by 55 points the s&p only three points negative right now still to put this in context we saw the markets down 500 points earlier and it's on track for its eighth straight week of losses and its longest weekly losing streak ever and we are hopeful that at the very least we can get some kind of bounce today. apple is struggling and while other tech stocks are holding up, while netflix is higher beer 8.5%s and yield on the 10-

"closing bell" starts right now. >> thank you, tyler and julia. stocks mostly higher in another volatile session the most important hour of trading starts now welcome, everyone, to "closing bell." i'm sara eisen we've swung higher for the market after a little morning sell-off this morning. s&p 500 up about a third of 1% we had a very strong rally on friday, but we're coming off of six down weeks for the s&p 500 the nasdaq is underperforming today. it's down a third of 1%. the nasdaq 100 which has a lot of mega cap tech names down a

tyler, what is on the table right now for gun safety legislation? >> senate democrats are trying to begin conversation with their republican counterparts to find a path forward. alicia, as you outlined, there has been a past forward. there is a lot of pessimism that there will be a path for this time. despite the tragedy, they are trying to figure something as simple as back on checks, trying to prevent more people from getting guns that should not be able to get them. chris murphy, the senator from connecticut, is a vocal gun control advocate. he took a lead on this, along with senator joe manchin. they're trying to start conversations with republican counterparts. they need ten republicans to join them. there is no signs that there are maybe even five republicans to go along with them at this point. that is what is happening. my sources tell me that the president and her team are looking back at what executive action he might be able to take to really make progress on the efforts to curb gun violence. there is pessimism that that will not be enoug

i'm tyler matheson here's what's ahead this hour as we wrap up this week stocks powering higher, showing inflation has risen just a bit helping to boost sentiment has the fed done enough to cool the economy? that's the debate and we'll discuss this hour. plus, it's not too late to invest in the hottest sector of the year so says one of our guests later this hour the energy index up almost 60% in 2022, but there's one thing investors need to pay attention to when buying into this rally, and kelly, we'll tell you what it is. >> i am looking forward to that because it's been a sure thing lately the dow on track to snap an eight-week losing streak and the dow and s&p also going positive for the month of may all of the major indexes are up more than 5% for the week and almost 6% for the nasdaq which is back over 12,000 and the 6% weekly gain driven by a 7% increase in apple and microsoft this week and an 11% jump in nvidia and applied materials with j.p. morgan up 11% and it set the tone this week with jamie dimon's comments and bank of america and the financial spdr with broad increases. >>

chief tyler says that those fires highlight the need to adapt to ever changing environment. and that's what cal fire is doing as the department adds more personnel and modernizes equipment. >> and now kron 4 sports from the 18 t fiber sports desk. >> all right. we are midway through the 4th quarter of this warriors game game. 2 western conference semifinals warriors grizzlies and we have a crazy one golden state is up by 3 points right now. of course, as soon as this one goes final, we'll have your full highlights. we'll hear from steve kerr steph curry and the gang. it has been a very physical game. and like i said, wild game going on right now down in memphis as we speak. but guess what? back here on the home base, we are watching this game as a family. let's head out to chase center where we can find kron. 4 sports actually got a sports reporter, but he has a sports hat on tonight. >> dan thorn is that thrive city watching this game as a family would dub nation and what's the atmosphere like >> yeah, chase. and that team is 1800 miles away. but that is no problem. as you

and tyler mentioned snowflake. if you have a multiyear time horizon. >> yeah, actually makes it worse. i love palantir 25, 21, i can give you the numbers trading 7.5 bucks now. among the myriad of things i have been wrong about, that's on the top of the list. they have been cautious on it. obviously, justified i will say this quickly. i will go to microsoft real quick. i want to talk salesforce and some of these other things microsoft i think pete would agree, right now at 264 i think it closed you are trade to go 23 times next year's numbers. you haven't seen microsoft at those levels in three or four years at least now, the push back they are not going to get that $11. that's fine. but i think that their trajectory is fine and in terms of valuation this is about as most compelling level it's been in a way long time >> karen, you still short igv? >> i am. i was looking -- it's right back to where it was before the pandemic and you could say they have had all that growth they have all lost a lot of money. not all.

>> hey, tyler. global markets have certainly not been immune to the recent volatility, significant outflows this year, but emerging markets have fared better than the s&p 500. down 2% in the past month versus the s&p 500's 7% decline certain markets like indonesia, norway, and broader latin america are not only outperforming the u.s. and trading in positive territory for the year what they all have in common and they're commodity producers benefiting from the rise in oil prices btg which manages $3 billion in latin america and equity remains bullish on brazil specifically petrobras and vail, and the interest rates have climbed from 2 to 5% this year and sell-offs have brought valuations down with brazil trading at eight times forward-looking earnings the etf now trading at price-to-book ratio and below the 1.7, and in brazil, russia and the interest rate decision in turkey and plus industrial profits out of russia are on the calendar that investors will be watching closely kelly and tyler? >> thank

logan. >> thank you, tyler mathisen. >>> coming up, is crypto a house of cards built on stable coins we'll probe the problems with one in particular this week as their backers are left scrambling for capital. >>> disney the worst down stock over the last 12 months. beyond meat on pace for losses and rivian down 79% since january. will their earnings turn things around the action and trade for all of these names ahead on "the exchange." ♪ on the road again ♪ ♪ just can't wait ♪ ♪ to get on the road again ♪ ♪ the life i love ♪ ♪ is making music with my friends ♪ ♪ and i can't wait ♪ ♪ to get on the road again ♪ hit the road in skechers. >>> welcome back to "the exchange." remember the great financial crisis at its climax since september 2008, the reserve primary money market mutual fund broke the buck that triggered a fresh wave of panic that peaked days later with the collapse of lehman and the bailout of aig is something similar now happening in crypto? the stable coin terrausd plunged low as 26 cents this morning how did it happen and where do we go from

tyler was only 10 years old. it was very tough loss for me because he was one of my best friends, tyler, another relatives. even the family dog have all kept devon's ashes on their necks. we all carry devon around. on our bodies to keep him with us to keep him present. angie silva is devon's mother a little bit numb a little bit. violated would you feel if someone went to the cemetery and dug up your mom and stole her really owns his tyler's mother, and was devin step, mom. it just opens up a wound and to think that piece of him is not in the right hands. devin had always been a fighter. he was born two months premature and endured many open heart surgeries. he was diagnosed with cancer on his 14th birthday. i want him remembered as the great and inspiring boy and that he always wanted to be devin always knew his life because short, devin and tyler share the same father. the two women weren't always close, but they say in sickness, devin brought the two mothers closer. he looked at her and he told her i got cance

dana tyler, cbs news. >>> up next, keeping your lunch together just got easier. the minds behind the world's first edible tape. >> what you talking about? >>> today on "the drew barrymore show" ali wentworth and >>> welcome back. taking a final look at high temperatures for the day we're warming up to the 90s in concord. within the next couple hours you'll feel the heat. that's the same for the bay area where we're expecting 70s. down into santa clara we're expected to get to the 80s. no rain in sight for now, just high temperatures in the 80s and 90s. >> not boring. i love the sunshine. no rain. >>> here's a question for you, do you have a problem with your burrito falling apart? >> my tacos last night. >> students at johns hopkins university have come up with a solution, safety tape. >> an edible tape. we don't know the recipe quite yet. that's awesome. >> i'm down with the tasty tape. i like it. keep it together. makes it ore ♪♪ >> brooke: it-- it just all feels so... unreal. finally knowing the truth. but i knew something was missing, i did. i knew i woul

tyler was only 10 years old. it was very tough loss for me because he was one of my best friends, relatives. even the family dog have all kept devon's ashes on their necks. we all carry devon around. on our bodies to keep him with us to keep him present, and silva is devon's mother a little bit numb a little bit. violated would you feel if someone went to the cemetery and dug up your mom and stole her really owns his tyler's mother, and was devin step, mom. it just opens up a wound and to think that piece of him is not in the right hands. devin had always been a fighter. he was born two months premature and endured many open heart surgeries. he was diagnosed with cancer on his 14th birthday. i want him remembered as the great and inspiring boy and that he always wanted to be devin always knew his life because short, devin and tyler share the same father . the two women weren't always close, but they say in sickness , devin brought the two mothers closer. he looked at her and he told her i got cancer to bring you

tyler was only 10 years old. it was very tough loss for me because he was one of my best friends, relatives. even the family dog have all kept devon's ashes on their necks. we all carry devon around. on our bodies to keep him with us to keep him present. angie silva is devin's mother. a little bit numb a little bit. violated would you feel if someone went to the cemetery and dug up your mom and stole her merely owns his tyler's mother, and was devin step, mom. it just opens up a wound and to think that piece of him is not in the right hands. devin had always been a fighter. he was born two months premature and endured many open heart surgeries. he was diagnosed with cancer on his 14th birthday. i want him remembered as the great and inspiring boy and that he always wanted to be. devon always knew his life. big cut short, devin and tyler share the same father . the two women weren't always close, but they say in sickness, devin brought the two mothers closer. he looked at her and he told her i got cancer to bring

tyler. and in his first television interview, he told me he is hopeful his department can change the course of fighting wildfires, all with the help of some shiny new tools. some of the biggest and baddest weapons to fight wildfires in california come from an aerial assault of fire retardant and water drops. and director joe tyler is not shy about showing them off. the kid in you has to be really excited about these. >> when the aircraft go in service, they too will be a game-changer. >> reporter: a game changer for a state that has seen catastrophic fire seasons year after year. including the largest two years ago when the august complex fire burned more than a million acres. and then the deadliest. the campfire in 2018 essentially wiping out the town of paradise, destroying 18,000 buildings, 85 people lost their lives. >> and the magnitude of the fire environment and the damage that's been done in these last few years is earth-shattering. and it really deals a blow on your psyche. >> repor

i'm tyler matheson along with ellie evans. the fed decision is imminent, minute away. policymakers expecting to raise interest rates by a half percentage rate. it would be the first half-point hike since may of 2000. >> historic. before we get to the chan panel of experts, here's a check of the marketses. the dow is up 100 points the s&p is up ten. the nasdaq lower by one point. as for the yield on the ten-year we've seen big moves today it is just a hair below 3% right now, 2.991 >> and of course, that's a good benchmark. it looks like the markets are just waiting to see what happens. david kelley, chief global strategist at j.p. morgan asset management mona mahaji at edward jones and jim carkaran at morgan stanley. we kind of know, don't we, david, what the fed is likely to do a half-point rise in interest rates, but the question to me is what is the level of the fed funds rate, how high does it have to go ultimately to tame inflation? much higher than where it is >> it does need to rise. i do think the federal reserve will continue to increase at a relative lie rapi

unfortunately, isa, that does include new mexico. >> tyler, do keep us posted. a lot going on this morning. thanks very much. tyler malden, cnn weather center. >>> more than 50 people are dead after heavy rainfall in northeastern brazil, and that death toll is expected to go up. the rain triggered landslides and floods wiping out neighborhoods. thousands of people have been forced out of their homes. and the search continues with dozens of people who are still missing. brazil's president jair bolsonaro promised help for those impacted. temporary shelters have been set up for those displaced. >>> still to come on the show, growing calls for gun reform after the two recent shootings. we'll take a look. >>> plus this. >> they were taking dna swabs from all the parents. and i instantly knew she was gone. why else would they need dna swabs to find a missing child? >> the uncle of one of the victims of the school shooting in uvalde, texas, speaks with cnn and talks about the moment he learned his niece did not survive. that story just ahead. dry skin is sensitive skin

the new director of calfire, chief joe tyler, is not shy about showing them off. the kid in you has to be really excited about these. >> when the aircraft go into service, they, too, will be a game changer. >> reporter: a game changer for a state that has seen catastrophic record fire seasons year after year, including two years ago when a fire burned more than a million acres of the t --. then the deadliest. the campfire in 2018, destroying 18 buildings. 85,000 people lost their lives. >> in the attitude of the fire environment and the damage that's been done the last few years is earth shattering and it really deals a blow on your psyche. >> reporter: chief tyler joined calfire as a seasoned firefighter, becoming the director by governor gavin newsom, ordering helicopters and carrying 224 gallons and can fly missions at night. >> reporter: how important is it to eventually be able to fly 24/7? >> i look forward to the opportunity to fly 24 hours a day, 7 days a week to be able to oppress small attack fires at night when temperatures are cooler. >> reporter: but

and for some of them, mary tyler moore was like a port of entry. >> i'm doing as good a job as he did. >> better. >> better! and i'm being paid less than he was because -- >> you're a woman. >> the television female could be a hero. she could be the main event. >> rita. all right. >> out loud! >> the first script written by allen burns and jim, had mary going to minneapolis divorced. and very quickly cbs says, no, no, no, no, no. >> at the beginning of the decade, divorce was considered somewhat scandalous. >> she went on dates with a lot of guys. >> but the guys were really important. >> we seem to be hitting it off. and i just thought -- >> you just thought? >> she's not obsessed with finding a husband. >> don't forget to take your pill. >> i won't. >> i won't. >> this was about people coping with one another. and the workplace was like a family. >> i told ted to close with the copy for sue ann. >> oh, my god. >> what's wrong? >> i told the projectionist it was the other way around. >> oh, my god. >> local pig farmers served notice today that rising corn prices are forcing them to f

tyler was only 10 years old. it was very tough loss for me because he was one of my best friends, tyler, another relatives. even the family dog have all kept devon's ashes on their necks. we all carry devon around. on our bodies to keep him with us to keep him present. angie silva is devin's mother. a little bit numb a little bit. violated would you feel if someone went to the cemetery and dug up your mom and stole her really owns his tyler's mother, and was devin step, mom. it just opens up a wound and to think that piece of him is not in the right hands. devin had always been a fighter. he was born two months premature and endured many open heart surgeries. he was diagnosed with cancer on his 14th birthday. i want him remembered as the great and inspiring boy and that he always wanted to be devin always knew his life because short, devin and tyler share the same father . the two women weren't always close, but they say in sickness , devin brought the two mothers closer. he looked at her and he told her i got ca

and yes, that magnificent mustache tyler versus tyler matchup in the seventh with the bases loaded, tyler o'neill gets the better of tyler rogers two run single to break the game. open the giants. they get 10 hits, but only one run. 71 cardinals is your final. the giants have now lost four straight. and six of their last seven raining. a l m v p. show, a hotel toni with an incredible performance in his first visit to fenway park as a pitcher. otani struck out 11 batters in seven shutout innings. 81 of his 99 pitches went for strikes and with the bat, no home runs, he did miss one by a few feet. but he did have a pair of hits, including this line drive r b, i single off the green monster hit so hard it actually knocked his number 17 out of the picture slot in the scoreboard. it's like the natural angels manager joe maddon called what otani is doing on the baseball diamond otherworldly. the angels beat the red sox eight to nothing. the nba has levied a one game suspension on memphis forward dillon brooks for what steve kerr called a dirty foul on gary payton. the second and by now, most of

i'm tyler mathisen in for melissa lee. joined by carter werth, mike co, tony jiang welcome. another red day on wall street nowhere near as red as it was midday or late morning, but it finished off the lows of the day after a wild week. here is where we ended the dow and the s&p virtually unchanged for the week the nasdaq down 1.5% we got wild swings every day, carter what do you make of the action, number one and number two, we finished the week down 0.2 point on the dow and -- but why does it feel worse than that? i feel worse than a 0.2% loss. >> right, because it's worse than that. under the circumstances, it's worse. there is also this in a steady bear market like '73, '74 it's quiet. bet beta volatility are low. in a steady bull market, during transition periods, vibrations start, tremors that's whetat this is this shocking volatility is problematic. i don't think the weakness is over. >> big swings, 1,000 point losses, it's going from down a lot to up a lot or up a lot to down a lot mike, talk some sense to me as a retail investor. what do you make of a week like this

last may, soon to have a facility like this one to manufacture the most advanced chips in the world in tyler, texas, thank you. [applause] this investment will create 3000 new high-tech jobs in texas. it adds to 20,000 jobs, samsung already supports in the united states of america. i want to thank samsung for their investment and continuing to expand the productive partnership between republic of korea and the united states. i know that samsung will also be working on a joint venture to build a new facility in the united states and will manufacture batteries for electric vehicles. investments like these will help catapult us toward a clean energy future which we both badly need with our shared economic growth, or energy security and our climate goals. i also want to make clear that these are smart business decisions. samsung did not invest $17 billion without running the numbers. the united states is the top destination for foreign direct investment because we have a world-class highly skilled and highly committed workers. any company investing in the united states gets our most highly skill

over to tyler. >> kelly, thank you, and welcome to "power lunch" for this last day of may i'm tyler mathisen, and here's what we have planned for you a critical and rare high level meeting at the white house the president talking with the fed chair as the central bank battles decades high inflation is the administration signaling perhaps that it will accept a slower economy >>> and rising oil prices fanning inflation fears. crude hitting $119 a barrel in trading today. a buck 25, 125 is that next? we've got the ceo of liberty energy here for his outlook on

and it really deals a blow on your psyche. >> reporter: chief tyler joined cal fire 31 years ago as a seasonal firefighter. working his way up through the ranks, appointed as the department's director in march by governor gavin newsom. he is credited for updating an aging fleet from vietnam-era hewey helicopters to firehawks. they are faster and carry 1,000 gallons of water, compared to 324 gallons and the firehawks can also fly missions at night. >> how important is it to eventually be able to fly 24/7? >> i look forward for the opportunity of flying 24 hours a day, seven days a week. to be able to potentially suppress small, initial-attack fires at night in environment where temperatures are cooler. >> reporter: but the new pride of cal fire? seven of these c-130 tankers. >> so where are we going right now? >> so right now, we are going into -- uh -- the belly of the aircraft that will veeventuallye converted where the tank system will be placed. so right where we are standing, there will be a 4,000-gallon tank. >> reporter: those retardant ta tanks will be installed in georgia this

. ♪ >>> aerosmith front man steven tyler has checked into rehab. the band said that tyler, who's 74, suffered a relapse in his sobriety following pain management for foot surgery. as a result, aerosmith is canceling the first two months of performances for its las vegas residency which was set to start in june. shows are due to resume in september. >>> nfl owners are meeting this week, and one of the topics on the agenda is the future of the pro bowl. the league says that it's considering eliminating the exhibition game from the week-long pro bowl celebrations. in recent years there have been heightened concern about injuries. >> i've spoken to several players myself. i think the conclusion was that the game itself doesn't work, and that we needed to find a different way to celebrate our players. >> the nfl says it's exploring other events. the decision could be made this summer. >>> and britain's royal mint unveiled the largest coin it has ever made. the 33-pound gold coin roughly the size of a dinner plate was commissioned by a private collector

. >> steve: he did say tyler but it's taylor. there was a mistake by the president. >> brian: keep in mind number reason care by taiwan number one chip maker. china takes them along with these chips? that's a national security issue. don't say it's so far away why does it matter? i don't believe that anyway. if you are thinking that, that's what effects. we're going to bring back manufacturing. it's going to take years to do what taiwan is doing. >> steve: to get that plant in taylor texas up it's going to take a while. >> ainsley: elon musk took his plant to texas. >> brian: antilabor. >> steve: it started with a podcast he did on monday that the administration did not like. you know, one of the things he said, he slammed the president and the administration they have not gotten anything done. the president is like ron burgundy. the guy from the movies who will read anything that is in a teleprompter. and things like that. he also moved his company headquarters to texas at the height of the coronavirus he said hey, you people ne

deputy tyler exhibited exceptional bravery and courage while facing the armed violent suspect. his actions not only saved his life at the lives of his fellow deputies. as such, it is with great honor and pride that the national rifle association names deputy tyler as the 2022 nra law enforcement officer of the year. deputy, please come on stage and be recognized. [applause] >> i am sure you are familiar with our next speaker. not yet. but here is a little known fact that is with sharing. -- worth sharing. one of his first client is an attorney in private sector was a national rifle association. right out of the gate, he has been a defender of the second amendment -- second amendment and he is not look back. from the support, and supreme court fights for the right to self-defense outside of your home, he has been alongside us every step of the way. filing for us, and taking on the gun-control media. please join me in welcoming one of the most fearless defenders of the second amendment from the lone star state, senator ted cruz. [applause] ♪ >> god bless the great state of texa

the new fall lineup was revealed and dana tyler has details fro the blue carpet in new york city. >> reporter: "fire country" based on the inmate firefighter program is one of three dramas debuting this fall. >> can i call my lawyer? >> sure. you have phone privileges in a week. >> reporter: max thieriot is the star and producer. >> i think everybody realized, wait a second, we can get firefighters and prisoners in the same show fighting fire together and it's real? i think it gives you so much stuff to explore. >> mom, i know who witnessed -- >> reporter: skyler astin co-stars with academy award winner maria gay harden in "so help me todd." it's about a lawyer who hires her aimless son as her law firm's investigator. >> for those of you who don't know, my name is regina haywood -- >> reporter: and the gritty police drama "east new york" stars amanda warren as the newly promoted boss of a brooklyn precinct. >> we are here to tell the truth and really tap into the human condition. >> reporter: joining the wednesday night all-reality lineup is a new romance/adventure/competition series

apple up 1.2% to 158 let's get to tyler matheson for a cnbc news update >>> in downtown havana, a strong explosion severely damaged a luxury hotel, killing at least four some may be trapped inside cuba's president says a preliminary investigation indicates there may have been a gas leak are unlikely americans were staying at the hotel because it's on the state department list of properties that are off limits for u.s. citizens before that 2020 designation, the hotel was popular with american celebrities like kim kardashian and beyonce an explosion at a four-story building in madrid sent four people to hospitals and less seriously injured 13 more. the cause unknown but the building was being renovated at the time and joe boyden was dishing out food for u.s. troops in romania on sunday. she'll visit slovakia's border with ukraine and moments ago, reuters quoted u.s. officials as saying president biden will soon sign a new weapons package for ukraine worth at least another $100 million tonight on the news with shep smith, new mexico repairs for an influx of women seeking abortions, as neigh

let's get to tyler matheson for a cnbc news update >>> an iraqi manb, now in u.s. custody, wanted to kill former president george w. bush, according to a search warrant obtained by nbc news after entering the country in late 2020, he told a confidential source, he planned to smuggle people, including militants associate wd with isi, to murder the former president they expect a above normal a atlantic hurricane season. they predict 14 to 21 named storms of those, six to ten expect tad be hurricanes. and severe weather continues to cause damage in the south and midwest. this shows the aftermath of what might have been a tornado in south carolina not sure yet where the service looking into the damage to make an official determination. tonight on the news with shep smith, the aftermath of a crypto currency backed by an optimistic mayor. the miami coin back to you. >>> still ahead, new home sales plunging to their lowest rate since the pandemic began what does it mean for toll brothers stocks? and while inflation takes a big bite out of retailers, can dick's buck the tr

but first, welcome to julia boorstin who's in for kelly evans. >> hi, tyler