CNBC Overtime

Yields on the 10-year rose during Fed’s Chair Jay Powell’s testimony today, yields also climbed in Europe as investors digest election results in France and Britain. “Now is the time for fixed income and the reason why is because monetary policy is going to be winds at the sails and there’s actually real yield to harvest in fixed income right now,” said Goldman Sachs Asset Management Multi-Asset Fixed Income Investing Head Lindsay Rosner, CFA.

Recent economic reports show signs of growth slowing in the U.S. Should investors start to look abroad for opportunities? Ruchir Sharma, Rockefeller Capital Management chairman and Breakout Capital Partners, LP founder, thinks it is time to do so. “We should be seeing international investing make some sort of a comeback,” said Sharma. “The issue, of course, is that investors are currently at the grip of the AI mania. So, as long as that goes on, everything else gets shaded.”

Shares of power generation company Vistra Corp. are up more than 135% this year due to increased demand for energy in data centers powering the AI revolution.  Only two S&P 500 companies, Super Micro and Nvidia, are outpacing Vistra year-to-date. “For seven years we’ve been growing our company with this electrification theme in mind. We’ve tripled revenues, we’ve tripled earnings power and that’s all before this latest wave of AI interest,” said Vistra CEO Jim Burke.

Shares of ServiceNow ($NOW) took a hit today after Guggenheim Partners analysts downgraded the software company's stock rating from Neutral to Sell and gave it a price target of $640 per share, while its stock price currently sits above $760. Guggenheim Partners is the only firm on Wall Street with a sell rating on software giant. Senior Managing Director JOHN DIFUCCI joined to discuss the call. "We just make calls based on the data that we look at... and it all points to ServiceNow being a great company... but that doesn't mean that if the stock is priced for perfection, it's going to execute on perfection going forward– even if it has in the last year and a half. We expect that in the second half, those numbers are going to have to come down."

More than 80 countries- about half the global population- will go to the polls to cast their votes this year. This weekend's election in France offered some surprising results as the far Right's rise suffered an unexpected blow as the Left surged. So what does that mean for risk in the global markets? RockCreek founder and CEO Afsaneh Beschloss thinks Europe remains investable. "Europe has become more investable... the UK has done really quite well on the expectation that this Labour government would be winning and would be changing economic policy so if you look at equity markets in the UK, they've done quite well."

Friday’s June jobs report prompted some folks on Wall Street to say they don’t expect the Federal Reserve will cut rates this year. But, RenMac Head of Economic Research Neil Dutta says the Federal Reserve needs to “get on with it.”

Oil is sitting near two-month highs amid expectations for heavy demand this summer. Middle East tensions and Hurricane Beryl are on investors’ minds too. Although markets have faded geopolitical risks, said RBC Capital Markets Head of Global Commodity Strategy Helima Croft, investors should watch Israel’s rising tensions with Lebanon and Hezbollah.

The Industrials sector is the fourth worst performing sector this year, up only six percent. J.P. Morgan Morgan analyst Steve Tusa joined the show to discuss what names could see a bounceback.

The S&P 500 and the Nasdaq are at record highs but are retail investors feeling good about their portfolios? According to Betterment’s second annual retail survey, they’re feeling anxious. “We were surprised to see the election and anxiety around the election were shadowing everything,” said Betterment CEO Sarah Kirshbaum Levy.

Shares of Tesla rallied after beating Wall Street’s estimates for its second quarter deliveries report. Still, Tesla is down almost seven percent this year, while the rest of the Magnificent 7 stocks are up. Anthony Wang, T. Rowe Price Science & Technology Fund Portfolio Manager, lays out what he needs to see in order to justify Tesla’s current valuation.