Transcripts For CNBC Power Lunch 20170901

Power lunch starts right now welcome to power lunch this september friday. Stocks are on session highs. The dow topping 22,000 for the first time in two weeks. Nasdaq trying for another record the s p 500 having its best week since april. All three major averages on track for a second straight week of gains check out movers wynn resorts trading at levels not seen in two years. The big news today, american jobs creating engine wilting a bit in august. Only added 156,000 jobs last month, below the 180,000 that economists expected. Senior economics reporter Steve Liesman is here to take us inside the numbers it is cooling, coasting, stabilizing . A lot of negative words used in the intro i dont know if i agree. Job growth did slow. Came in below expectations but is a decent report the population is growing at 80,000 thats what we should expect were almost double that number, still enough to take some workers off. Ism manufacturing, one of the highest numbers in a while more about that in a second. Consumer sentiment, same idea. Came down but still a strong level. Gary cohn spoke with cnbc earlier today. For a politician, his analysis wasnt much different from private sector economists. Were looking at the trend overall, looking at job growth, job creation and we see a lot of very good momentum in numbers. One numbers that went down were government always said government is going to get smaller, private sector is getting bigger. Heres data nonfarm pay rolls, what i didnt like with june jewelry visions down, average hourly wage up a tenth. Thats where the weakness is Unemployment Rate 4. 4 and labor force participation, 62. 9 not to overwhelm you with data, heres where the jobs were the manufacturing thing is interesting, up by 36,000. Construction as well up by 28,000 thats important yoyou need construction workerso rebuild in texas theres a deficit of them in the economy. Education, health and human services, 9,000 decline in government that gary cohn talked about. One more chart ism manufacturing number 58. 7 there highest number weve had in three years. Impressive. Manufacturing is where the president wanted to see job growth trying to get to detail it is fabricated metal trying to understand is this related to the president this investment number you talked about yesterday. These things i am trying to understand if it is, how much, how much can we rely on theres an awful lot of data, whats the number, over 30 data series on my excel upstairs. Going back ten years i am proud of this i am proud of the amount of data i collect and collate and give to folks weve had strength in manufacturing. That number, i think the number is over 150,000 manufacturing jobs created of late is there something going on out there we need to be aware of. Lets introduce rebecca patterson. Sorry. Thats okay rebecca patterson, viewers know talk about the market effects, eric we go and you can stick around ask the producers if it works with their plan. We were talking about policy in work, saw a jump in manufacturing jobs, saw mining jobs added, hard to remember last time we saw that. Is there a policy at work here it is interesting to see. We are seeing improved Business Confidence i think it is not only a reflection of favorable corporate results, but seeing much better tone to Global Economic activity. And i think thats something that really is contributing to that couple that with weakening dollar, and i think it creates a favorable backdrop there that truly is the Silver Lining as steve was pointing out in an otherwise tepid labor release today. Whats the lag time it would take change in currency market or realization of weaker dollar for longer for companies to say im going to start adding jobs. I think theres a lot of factors companies are thinking about before they add jobs, especially for exporters, for industries that are focused on that it is the combo, the one, two punch of weaker dollar and better growth overseas on a relative basis China Holding up better than expected, europe has momentum broadly first time in years. It is kind of a wonderful cocktail happening just to be clear, cousin company i think highly of. You did not move jobs theyre thankful for that. You think of the last month, north korea, corporate lash to charlottesville, was that all just a blip in the market . At these valuations, given how long this rally has run, we shouldnt be surprised at all to see pull backs in the market on some of these risks or perceived risks, as long as the underlying economy is doing well, what steve has been talking about, we have good confidence, decent job growth, low Unemployment Rate, usually these are opportunities to put money to work also nonexistent inflation in the way the fed thinks of it you can look at this number, say Interest Rate hikes, maybe not as many as expected. Is it possible are we going to see changes . Good number, but not gang busters and inflation is tame. Four things have gone on. Earnings are better, economy is doing pretty well, and inflation has really come out of the discussion here. Its come quite a bit down then add on top of that whats happened, the World Economy is doing better and thats helped. You can add tenths of a point and build up from the 1. 8 underlying gdp growth and get to where we are now, this 2. 5 to 3 range, a little better if all those things keep working in our favor. Eric, if worried about the fed hiking Interest Rates, putting an end to the rally in some way, you dont see a lot of that in these numbers now. Look at whats going on with ten year yield you can let multiples sit widely here. No doubt about it thats what it comes down to i agree with earlier commentary. Our view is investors are looking at reality versus rhetoric while the risks are certainly elevated, the reality of favorable economic backdrop and strong Earnings Growth, we were talking about lag effect of the dollar impacting earnings moments ago. Whats interesting, this time last year, listening to corporate earnings, they were talking about head winds of anywhere from mid to high Single Digits as far as currency impact they were experiencing seeing a more favorable earnings backdrop for the second half has us believing we will continue to see markets move laterally, perhaps choppy over the next month, but with bias higher, low inflationary environment where we dont see risk of recession on the horizon. Want to let everybody know, we are waiting to see if there was decision on the Immigration Program thats controversial, daca President Trump told reporters, i believe we will see it on tape that a decision on daca will happen today or this weekend theres a deadline there are attorneys general that want to file suit against the daca program which is deferred action on childhood arrivals, thats what the acronym is about, this is about people brought to the United States under the age of 16 and would like to stay in the United States, theyre adults and working. So we are waiting to see he has gone back and forth on this it has been controversial in the Republican Party thought we would get an answer today, now it is not clear if that will happen or happen over the weekend. Doesnt say which way theyre leaning. As of today, speaker ryan said he doesnt think the program should be changed. Senator orrin hatch, senior republican in the senate said he thinks it would be the wrong plan to roll it back executives have come in on a strong way. Unless american women start having lots more babies, we need immigrants so we can have a labor force if we want to keep gdp numbers high. One caveat is that republicans are concerned it was done Via Executive order they believe it was outside the law. Speaker ryan put an asterisk and said Congress Needs to take care of this. This needs to be legislated. Hold my breath while Congress Takes care of this. Speaking of congress, eric, you mention choppiness in september. There are a lot of deadlines on the horizon. Would you be buying treasuries that come up for maturity early october . Our view continues to be we advise clients to be slightly short at duration, depending on investment objective we do think potentially with the fed beginning to roll off its Balance Sheet and what we ultimately believe will be more consistent Economic Growth and some building inflation, that rates will trend higher. You know, were not expecting a rapid acceleration or rising in rates, but as a result we are tending to be short of duration and maintain bias toward equities. I get that the environment for markets, it is almost a goldilocks environment, growth here, growth abroad, feds at bay, et cetera, et cetera, Interest Rates are low, valuations can be high as michelle pointed out at the same time, we have a tricky september you have the fed winding down its Balance Sheet, ecb meeting next week which could send ripples through the currency market. The debt ceiling. The list goes on and on for the month of september what do you do in the near term . I think whats interesting is often we have an event, big fed meeting. Now we have four or five potentially critical events happening in a four or five week window so fine, debt ceiling in the past took the market down, the shutdown took the market down a bit. What if you get two or three risks becoming reality im sorry, the president is speaking thank you very much, everybody. Whats your decision on daca, mr. President . A decision on daca sometime today or over the weekend well have a decision. We love the dreamers, we love everybody. Thank you very much. Well issue it sometime over the weekend, maybe this afternoon. Were working on emergency funding. Were doing everything we can and were working well with the governor who has done a terrific job. Thank you very much, everybody thank you, have a good afternoon. On tape, confirmation of what we got from the wires, the president saying maybe well make a decision today or over the weekend over the daca program, deferred action for childhood arrivals, commonly referred to as the dreamers, as you heard him say, we love the dreamers, and talking emergency funding for Hurricane Harvey john harwood, john, as you see the president is struggling with the decision because he said various things about the dreamer program. Exactly right for the reasons that kayla was mentioning, its a difficult challenge. The Republican Party knows that it has to improve its image among latino voters to thrive in the long run, so you have Party Leaders like orrin hatch and paul ryan, House Speaker saying no, lets dont do this right now, but President Trump himself and a lot of the people around him feel they want to crackdown on this program. He constructed a political image as tough guy on immigration. There are a lot of people in the base of the Republican Party who say that people came here illegally, we have to enforce the law and are absolutist about that, and thats the rub in the president , and clearly he hasnt been able to makeup his mind as of yet, he says hell get the decision today or over the weekend. Weve seen in the past, the president announced impending decisions that dont come out as quickly as he says, but we have to wait and see. John, weve also seen the white house taking to the late friday afternoon or evening news cycle. Do you think this is a summer trend or something that they find as a certain comfort zone well, they might find it as a comfort zone, but it really doesnt work thats an idea that maybe was relevant back when i was covering the Ronald Reagan white house or bill Clinton White house and we didnt have the channels of communication that we have now, but information spreads so rapidly and so widely to the targeted audiences, you can have the intention of burying something on a friday afternoon and think people arent going to notice, but theyre going to notice. Well said john, thank you. Time for the report. Unchanged at 759 for the week of september 1st still up from 352 versus a year ago. Seems like oil drillers were anticipating the impact of harvey and made no changes to their count, prior to this being released, wti was down about 17 cents, down similar amount now michelle, back to you. Thank you very much rebecca is with us for the hour. Good to have you. Up next, millions of americans get set to hit the road for the holiday, theyll feel the financial pinch from Hurricane Harvey details on the gas price spike after the break. Millions of americans gearing up for beginning of fall travel sports season soccer, football, gymnastics, you name it. Were going to take you to whats an incredibly booming business up 50 in the last seven years dont move hey gary, what are you doing . Oh hey john, im connecting our brains so we can share our amazing trading knowledge. Thats a great idea, but why dont you just go to thinkorswims chat rooms where you can share strategies, ideas, even actual trades with market professionals and thousands of other traders . I know. Your brain told my brain before you told my face. Mmm, blueberry . Tap into the knowledge of other traders on thinkorswim. Only at td ameritrade. Track your pack. Set a curfew, or two. Make dinnertime device free. [ music stops ] [ music plays again ] a smarter way to wifi is awesome. Introducing xfinity xfi. Amazing speed, coverage and control. Change the way you wifi. Xfinity. The future of awesome. Welcome back to power lunch. Lets get to texas for an update on hurricane recovery erts the story continues to be the Chemical Plant where fires are expected to continue reporter thats right, we are trying to sort out the questions that were raised the ceo says the company is being open and transparent, to that end the Company Released pictures of the flooded plant and the issue is that with six feet of water that they did not expect, they say, it took out all the power, the backup generators c generators so they put this volatile chemical into refrigerator trucks, but the refrigeration is gone we know one fire has basically burned itself out, took about nine hours there are 8 other trucks, and only a matter of time before they go up we also know now according to this companys new transparency as they put it, whats in the plant in broad terms, put out a list including organic peroxides, thats the chemical in question, the amount larger than originally stated, about a half million pounds. And also perhaps of more concern, sulfur dioxide, and isoamylene we dont know what the quantity is, they wont say what the quantity is, those are listed as hazardous chemicals. The company says it was everything thats there that dictated this response we are providing federal, state and local responders with the information that they need to make the decisions on facts as they exist today. And thats what resulted in the 1. 5 mile evacuation zone reporter and thats the key here, questions that a lot of people that live, work, own businesses around here are raising. You heard a one and a half mile evacuation zone, and yet the company says the only danger is some throat irritation if this catches fire but take a look at what one and a half miles mean. The plant is that way, the water to your on the horizon thats a Long Distance to avoid people having a sore throat, thats what people raise questions about. In addition to 300 or so people who live around here and have been evacuated indefinitely, there are businesses, people that own livestock they havent been able to get to in several days there are potentially big losses here, and as i said, right now, more questions than answers. Guys thank you scott cohn in crosby, texas. Beyond the devastation on the gulf coast, the storm is starting to take a toll on gas prices across america. Fuel surging to two year highs, Convenience Stores sell about 80 of our nations fuel joining us to talk about the price spike and potential shortages, jeff leonard from strategic industry initiatives with National Association of Convenience Stores jeff, great to have you with us. Thanks for having me. Are we seeing at this point any fuel shortages in the country, do you expect that in the coming days . There are outages across the country. One of those in dallas that we heard about. Thats a combination of supply and demand certainly supply is down with 125 refineries being shut down and capacity off about a quarter, but were also seeing spike in demand. The system is not set up for everybody to be riding around with a full tank of gas. We have a High Percentage of people filling their tanks that means there are more people with less fuel available best way to remediate that, combination supply and demand. What we are saying, buy as normally scheduled, dont top off your tank, dont fill up extra gas cans i want to talk about the other impact for the Convenience Stores obviously Convenience Stores sell a lot of things in addition to gas rely on people to pull into the gas station, fill up the tank and go in there, buy a pack of cigarettes or soda or Something Like that. Were seeing spikes across the country when it comes to fuel prices how is that impacting what consumers spend at the Convenience Stores themselves . What are the Convenience Stores facing now well, you see the higher prices because of higher wholesale prices, they pass on the prices, in some cases absorbing some of the prices, nobody wants to be the highest price, people are still price sensitive even when you have fuel the other element is people are going further to get fuel. If theres some sort of supply outage in an area, we are hearing about people from dallas who are maybe traveling as far as denver and back for fuel. That takes a little more in the way of costs, you want to bring it back affordably if you dont sell gas, you dont get the customer coming inside to buy anything. Even if selling gas, theyre spending more on gas, seen it time and time again, fuel prices go lower, people have more money in the pocket and go in and buy things they otherwise might not buy. The opposite is true, if they pay more for fuel, they may not buy that extra coffee or hot dog or whatever. No question but the other idea is you want to keep that routine going you want to be there when the neighborhood needs you you want to have supply, even if theyre just buying gas, you want to stay in their heads that youve done a good thing and provided supply when they need it Good Samaritan Convenience Stores thank you, jeff. Still ahead. Business playing a crucial role in americas Opioid Crisis what ploiemployers are doing tol an addicted work force thats next. Welcome back to power lunch. The Opioid Crisis has been taking a toll on families, states and americas labor force. We have a look at how employers are dealing with this growing problem. Reporter ground zero of this epidemic is in ohio, and businesses there are rethinking their zero tolerance stance on drugs and instead focusing on Second Chances Jonathan Rupert runs a business that makes and in stalls countertops. 15 of 49 employees are recovering addicts everyone is clean and theyre all open about their past. I knew there was drug use i knew we were having some problems with some employees now these guys are holding each other accountable out there. Study from princeton found across the country half all prime age men not in the labor force take pain medication, most of it prescription drugs ron eagle was one of them. He hurt his back whenhe was 19 spent the next 20 years in and out of jobs fighting addiction i was scared because i didnt know what was going to happen. I didnt know if it was something i could do i just knew that i ran out of every option i had no other options i was tired, i was tired of chasing the drugs, i was tired of everything i was doing to the people i loved the most. Ron got help. He now works at ruperts business, clean a year and a half but addiction is still a sensitive issue with stigmas attached to it ohio Officials Say theyre working with Big Name Companies on this crisis, but none of them want to talk about it on camera. Back to you. Makes you wonder if this is an issue that needs to be solved first by Small Businesses that have more grass roots level than big household named companies are willing to actually acknowledge and talk about it. Kayla, Small Businesses have more flexibility, sometimes are closer to their employees, theyre on the ground and able to identify workers who are in distress youve seen that Small Businesses are the ones that are more willing to be public and vocal about this certainly there are Big Companies trying to figure out how to address this issue, both within their own workplace and also to educate their customers and clients about whats going on in ohio. As the labor market gets tighter and tighter, becomes more important to have as large a group as possible be employed. To texas and recovery efforts, Contessa Brewer is live in houston with the latest on whats going on. Reporter we heard from the mayor working with army corps of engineers, they plan to keep releasing water from reservoirs for the next two weeks theyre not seeing a change, even though we seed flood waters reseat in some areas, they issued a strong warning to residents in areas west of houston still flooded, the situation is not going to change, you have to get out. This is the sam houston freeway, part of the beltway that wraps around houston at i10 west of the downtown area, and water is still way, way up. Almost to the bridge that you can see off in the distance. This is creating problems for people in the area trying to get across bayous, back and forth to work whats normally a 15 minute drive takes an hour and a half to two hours those that can return home because flood waters are receded are finding nothing but damage we saw mountains and mountains of debris from homeowners who are pulling out drywall, rugs and furniture. Rebecca revere a bought her home a month ago, among the 70 to 80 of Harvey Victims that dont have Flood Insurance it was up to like my first landing, saturday late evening then went almost all the way down then it just came back and started rising you can see the water line here. This area is a little sunken it got the most water. It came up four feet three inches in the front and about three inches in back reporter and her car flooded, too the item shes most upset about, that beautiful magenta sofa. Shes like i loved that thing. But shes a cancer survivor, so she says she has her health, puts Everything Else in perspective. This is all stuff. Back here live, want to show you the freeway again. I think this is what i describe as harvey humor. Somebody posted a warning, no lifeguard on duty. Children should not use the pool without adult supervision. Dont dive got to find humor someplace. Thank you, Contessa Brewer in houston, texas a close look at atwhs in store for the currency from here thank you clients . Well jd power did just rank them highest in Investor Satisfaction with full Service Brokerage firms. Again. And online equity trades are only 4. 95. I mean you cant have low cost and be full service. Its impossible. Its like having your cake and eating it too. Ask your broker if they offer awardwinning full service and low costs. How am i going to explain this . If you dont like their answer, ask again at schwab. Schwab, a modern approach to wealth management. Your insurance on time. Tap one little bumper, and up go your rates. What good is having insurance if you get punished for using it . News flash nobodys perfect. For drivers with accident forgiveness, Liberty Mutual wont raise your rates due to your first accident. Switch and you could save 782 on home and auto insurance. Call for a free quote today. Liberty stands with you™ Liberty Mutual insurance. Hi, everybody, i am sue herrera. Heres your cnbc update for this Hour Congress considering a 5. 5 billion aid package for Hurricane Harvey ravaged area. The coast guard saying it rescued at least 3,000 people from flood waters in the last 48 hours. Meanwhile, Texas Department of Public Safety estimating harvey heavily damaged more than 46,000 homes and destroyed more than 9,000. Pope francis hoping people accept Climate Change as reality and that it caused ecological crisis issuing that statement earlier today. A development in the Penn State Fraternity death trial, judge tossing out the most serious charges of manslaughter and felony assault counts were filed against members of the fraternity in an alcohol hazing related death 14 members are now headed to trial. The remaining charges range from Reckless Endangerment to alcohol violations and hazing. California issuing an energy alert, a heat wave putting pressure on the states power grid they ask residents to scale back on triselectricity, try not to s air conditioners it is over 100 in a lot of areas. Thats the news this hour. Back to you. Thanks so much. Look at where the market is, some movers in the market. Some retailers on the move finish line, foot locker, gap and l brands finish closer to 5 apple hitting another alltime high in earlier trading ahead of the big product event later this month. Mcdonalds, young brands are hitting alltime highs take a look at the auto stocks gm, ford, fiat in the green following august auto sales out today. We talk about stocks that are hitting alltime highs, sometimes feels like you should talk about stocks that arent hitting alltime highs happens every day. About a half percent away from record highs in the s p 500 now. Bitcoin is up more than 70 in august alone. The gray scale bitcoin trust, up 627 this year some view those gains as a problem. Why is that . Thats nearly twice the gains of the bitcoin itself so in other words, the trust is trading more richly than the underlying asset which is bitcoin. Thats not all listen to what andrew left had to say about the trust and why he is shorting it. Just go read the sec filings and youll see they do not even have insurance for the bitcoin that they are custodians of. Ill quote this to you we have been advised that our custodian did not renew its Insurance Coverage that also makes it bad on top of that, what makes it worse is youre not even guaranteed to get the distribution of bitcoin cash and it also says that in the filing this is bad and worse all rolled into one joining us to discuss, brian kelly, fast money contributor and founder of brian kelly capital. You are the bitcoin expert as far as im concerned this has nothing to do per se with bitcoin itself. This is the structure of the trust. Yeah. And actually has nothing to do with gray scale, this is market. The market has bid it up the reason it is happening is because gray scale filed to become an etf. During that period, they cant create any more shares theres a short of shares, the market bidded up, now it is trading at least 100 premium. Investors need to know even if you bought this and bitcoin doubled in the next year, you might not make money buying at this price. Rebecca, if im an investor in gray scale bitcoin trust, i would want to take my money out. Is that the right instinct yes absolutely i think it is a fascinating technology, what underlies it, we are investing in companies with block chain but bitcoin is speculative instrument, if i have a client look at it i say you put aside play money if you make 600, 700 , lovely, you lose it all, thats okay too, because you dont have enough clarity, it is unregulated, not liquid. I understand why it is up, but i wouldnt put it in a diversified portfolio, no way. Once it becomes an etf would you buy it because you get liquidity in a market. That can be difficult, take your money out of a bitcoin machine somewhere, it is difficult what happens once the etf comes on board, does it fall in price . Yes lets assume the price of bitcoin is exactly where it is right now. That spread will compress as soon as they can issue more shares it could fall in price even if bitcoin doesnt go anywhere. On a liquidity level, they trade as much on daily basis than the theres plenty of easy ways to buy it this particular case it shows how much demand there is out there, but investors have to know, 100 premium. Once it is etf, more likely to match the underlying asset, then do you buy or treat it like a closed end fund, once it trades at premium, sell it, or under the price of the underlying asset, you buy it once it is in etf, great way to get exposure in an ira or typical brokerage account, as long as premium isnt that high at all it is going to act just like the gld once approved as an etf. I would argue similar to etfs with high yield or junk bonlds i them, the underlying instrument may not be as good as what you expect from the etf. In time of distress if you need to get out, you may not get out as quickly or at the level you want. What would be faster if you want ultimate liquidity. Bit counscoin itself. Thanks, good to see you want to bring live pictures from port arthur, texas. The region got battered by Hurricane Harvey however, the sun is out today. Rescue and recovery operations are under way. This is video from a boat traveling on what used to be streets. Now the waters are high even as we watch them recede the sun is finally shining down there. The 15 billion industry driven entirely by children and their parents. Talking the booming business of youth sports, how it is taking over dollars, some argue common sense as well. First to todays bond report rick anybody likes to watch this market, ten years of treasuries. Here we are at 215 last night we had the low close under 213. But the market is acting heavy here, and thats catching some traders off guard. You look at year to date chart, Something Else happening today long end maturities outperforming on the sell side to short maturities, something called steep ening havent seen it in a while it is only a nub on the right side, but hovering with flat areas with regard to that metric look at the dollar index, keep in mind, trading 92. 83 it is up dollar is ahead. Is there a bounce in sight power lunch returns in two minutes. If youre a parent, you might know the feeling of trying to keep up with your childs traveling sports team. Youre not alone used to be small time baseball leagues and soccer lesioagues. It is now a 15 billion dollar business joining us, author of the piece, shawn gregory. Good to have you here. Give us some of the most extreme examples i read the article, my eyes popped parents spending how much a month so johnny at the age of 11 can do what . Play baseball, basketball seen 30,000 and north a year. One mom from missouri drives her kids regularly over the summer, seven hours round trip three times a week to practice the sacrifice and financial sacrifice, time sacrifice, and the effect on families, tears families apart family reunions dont happen, birthdays dont happen. Some skip family weddings. Skip family weddings, close Family Member doesnt talk to her any more theres a lot that you see besides the obvious thousands of dollars. Which is the most popular offender i think hockey has been expensive because of lack of rinks, baseball is the one in the last five, six years, summer circuit, travel circuit has expanded 10, 15 years ago, maybe play 20 games a year for Little League now youre asked to play 80 games and more for your travel team you have to pay travel expenses. How did we get here, this was not there. I am old lady now. Between then and now, what happened how did it get here . Two main reasons. One is the rising cost of tuition. Scholarships athletic scholarship 3 billion available in scholarships. How much are they spending to potentially be in contention for that athletic scholarship . You spend hundreds of thousands of dollars chasing a scholarship, theres a 98 chance you wont get, might as well put it in a savings account. This isnt about making the big leagues, it is about trying to get into the best schools at a cheaper rate. Thats a lot of it. Another reason i think it expanded is because of technology and connectivity of the world. Theres an app called coach up, you can order private coach just as easily as you order an uber they sell themselves as uber for private coaching. How popular are personal 15,000 batting cages you write about that they have in the backyard thats pretty extreme the family thats doing that are not alone. There are towns investing lots of money, building expensive, High Tech Sports facilities for children. Profiled westfield indiana, building a huge mega complex, thought being it would generate activity on the weekends public financial money, private investment, all kinds of stakes here. Generating enough to pay off bonds . I hate when they build stadiums with taxpayer bonds. Thats to be determined cities are taking a risk, theyre long term investments. Early signs are mixed. Is this at the expense of middle and High School Sport teams . What direction are those going in definitely. Spoke to a volleyball dad, said a College Coach told him if you dont play club volleyball, your daughter wont get a college scholarship. High school team Means Nothing more sports as they play private teams, definitely the high school team, middle school team doesnt mean as much as it used to participation in Little League is down 20 down 20 . Theres been a migration from your neighborhood Little League team to mercenary travel teams where it is much more professionalized. What percentage of kids, have you counted numbers involved versus number of scholarships or places theyre competing for 2 of High School Athletes go on to play Division One Sports thats where the scholarships are. You have 98 chance to not get going to play for sports t thank you, well go to the president speaking right now thank you. Thank you very much, the first lady and i are pleased to welcome Gayle Mcgovern of the american red ross and kevin easel of the Southern Baptist disaster relief. These people have been absolutely incredible in what they have done we would like to thank them and their staffs and volunteers of the incredible work. They are doing and helping people who are affected by Hurricane Harvey sounds like an innocent name but it is not an innocent hurricane that i can tell you, it is epic proportions. These organizations and many nonprofit involved represents the generosity determinations and unbreakable spirit of the American People and mike pence was there yesterday and represented this country so well in the love and the care and i had so many, just great comments as about this i appreciate it. When a disaster strikes, they work to help others in the time of need which was over the last week, believe me, they have already provided tens of thousands of displaced residents with meals and waters and shelters and fresh blankets and clean clothing when one american suffers and i say this quite a bit especially lately when you see whats going on, we all suffer. Where one American Family brought together in times of tragedy, by the unbreakable bonds of love and loyalty that we have for one another, there is agreat love and great loyalty in this country and i think we have all seen it. Maybe more or so than before in the last four days i think we have seen it. Nowhere is your unity more evident than the action of our volunteers and charitable communities rallied to neighbors aids wh the people of texas and louisiana are hit very hard in the historic flood they taught us a lesson of a powerful lesson, it was no outbreak in crime, it was an outbreak in compassion they really inspired us as a nation, to be honest, they inspired the world because the world is watching. We are pleased to receive an update of the work of the red cross and Southern Baptist disaster relief, the federal government is on the ground bringing in significant resources. I want to make sure these organizations and others involved, well continue to coordinate with them and bringing all the relief and comfort and Everything Else that we can to the gulf coast and i want to also thank the governor, Lieutenant Governor of texas, they have been outstanding just the coordination and the level of relationships have been pretty much unprecedented. I just want to thank them and all of the folks working on the ground for the administration. Tom, thank you very much, we appreciate it. Every americans heart is with the people of texas and louisiana. Theyre strong and resilient they have really over come they are overcome this horrible devastation. The coast guards have saved thousands of lives, we were talking about it and going onto seas that many few people would want to be on in the worst of times and they saved a lot of people out there together well help them recovering from the strategy where we renew our hope and communities and rebuilding those homes and businesses in schools and worship where strengths are bigger i just authorized and signed a proclamation for prayers and we are going to have them on sunday, a prayer for sunday and that was something very special in place i think it is going to be something to see and witness it is been a long time and our country deserves i want to thank my wife, the first lady, shes been so involved in this and helping so much i would to say thank you would you like to say a few words to start off it is great to be here, we have an amazing people and i want to thank all the volunteers across the country that came to help to texas and fantastic job we are going tomorrow to visit them and i just want to tell them be strong and everything will be okay on tin the end she did a great job shes been so dedicated into this it has affected her of what has happened in texas. Neighboring states frankly i want to thank you. Salvation army we, we all, we are appreciatf this opportunity and appreciative of our partners in service. We are working hand in hand with groups of red cross where they are providing shelters to people and meals, even though we are limited to get icn of the impa t impacted areas, we have served hundreds and thousands of meals and millions of meals will be served we can only do this as we partner together i have told my workers that this is the time that we are all texans no matter where you are from, we are all about serving the americans in need. I would like to thank you mr. President and the red cross and baptist and all other agencies that partnered with us together we can make a difference thank you, Southern Baptist we are three organizations but well work best as one. The joy is we really do lock arms and have the capacity to feed over 400,000 people at the aid. Mr. President , thank you for fema, they have been incredible through this we have came through main disasters and they have done a fantastic job of stepping in and preparing of volunteering of the great tragedy. We should thank brock long and all of the people at fema and the people at home, thi have to say general kelly whos so much involved. He just left and hes in the white house. His spirit and Everything Else thats been involved in the last few weeks, really, this is been probably almost two weeks since we felt it general kelly has done a fantastic job and elaine duke have been terrific tell me, red cross, how are we doing . First of all, our hearts going out for the people of texas. So many people have lost everything and presented in our shelters is just the clothes on their backs. I visited one of the shelters outside of austin and it housed about 200 people and i had the opportunity to talk to all the families everyone from a 6month old baby to 68 man, and everybody in between. One thing i have seen in the nine years that i have been with the American Red Cross is the incredible resilience of the American People. They are bound to determine to build back they are about 40,000 people in our shelters right now across the state of texas our volunteers are pouring in and keeping them comfort and hope, we serve about 300,000 meals and snack. Our partners are there and getting a hot meal in their hands so we can serve them the government have been phenomen phenomenal when we had a hard time getting our volunteers in, the city gave us dump trucks so we can get volunteers and cots in the department of defense gave us high water vehicles, 20 of them so we can break in and in need of supplies, i am appreciative of the team work and your support and again, our hearts go out to the people of texas. Thank you very much very nice, 390,000 meals thats up until now thats tremendous michael, would you like to Say Something . Mr. President , having returned from Southeast Texas yesterday, we heard the resilience, the character and the faith of these people in the community and we heard their gratitude to you and the first lady for the Administration Support for your compassion and admiration for First Responders and fema down to local leadership, i also heard mr. President about their gratitude for volunteers of the organizations that have been there from the out set of the storm and i want to thank you and the first lady for taking the opportunity to call attention to the Salvation Army and the red cross and Southern Baptist. Anyone looking on should know that while the federal government is going to be there and your direction is seeking resources from congress to make sure efforts are available for individuals and the work of meeting peoples human needs each and everyday will take all of us. These volunteer organizations will need resources and mainly people i would just add the president , anyone looking on can go into the website where all the organizations are listed people can find out how they can be supportive of these hours of weeks and months ahead as they rebuild their lives. Thank you very much these are some of the locations over a short period of time they managed, they and others have managed to go to some of these locations as you know very well. Some of the presses have been there and they are devastated. Two days ago, there were water that nobody have seen before i guess in the history of our country that we never had an amount of water that we had. You were able to occupy all of these locations and taking care of people. We want to thank you for a very special job. Thank you very much great job. Thank you very much thank you everyone. Well be releasing on darka probably sometimes sunday and latest will be on monday thanks everyone well be making a request, absolutely thank you, everyone well be making a request for the state of texas thank you so much. Tomorrow i am going to louisiana with the first lady and texas. It will be texas, louisiana. Thank you. Thank you everybody okay, President Trump speaking to reporters and talk about whats being done thus far in texas and taking questions related to the Controversial Program about immigration for children for children of ages 16 lets bring in John Hardwick, we were both here for katrina and the difference in response at every level whether it is the Community Level of federal level, so different than what we saw with harvey verses what we saw with katrina a much more successful rescue operation and fewer people died and impressive comparatively i agreed michelle this is an effective federal response and the president was highlighting some elements of that response and praising his fema director, brock long, whos been doing an outstanding job. I think this appearance by the president of the oval office was to highlight the effectiveness and show the human side which he called on Melania Trump to make some comments and Vice President pence to make some comments. He himself said the country have shown loyalty and compassion like it had not done in the past i think that was what the president was trying to communicate today. No decisions on what to do with the program as many people call it. I wonder part of the decision, i know its got humanitarian poll in him and we love the dreamers. There is issue of immigration. I wonder if it is also, no matter what happens, lets say he decide that is hes not going to do anything or let the program stands, then the Program Faces a very serious threats from these attorney general ten of them thats going to go after it things are going to go away anyway thats part of his calculus as to what he will do as things are going away regardless. Well, it is similar to what he has said, it is his choice of autoobamacare. If we pass a new program or if we dont pass a new program, he argues thatll go away in the long run that would be an argument for him not to do anything and threlet the courts do what they will the president is torn on the issue, he has not come to a decision and it is not an easy one for him given his own base and for his party given a look in the future. Especially john, humanitarian focused on those states where this is an issue that hits so close to home for them texas is first among them John Hardwick in washington, thank you. President trump is expecting to request funds for Harvey Relief we are seeing a major spiking in gas price and not just in texas. Dia diana oleck is joining us now. Where are we seeing these price . Right here, 40 cents right here reporter they are likely to move higher in the coming days it is here in the mid atlantic and georgia and carolina are seeing the biggest spike this area gets their gas through the houston refineries which is running at a much reduced capacity compares to a week ago before the storm hits, prices are up 17 cents a gallon nationally. East of texas, prices up around 20 cents a gallon in many of these states, compare that to california which has its oin refineries around 6 a gallon and less to do with harvey many folks we spoke around here did not know prices were up. Now that they do reporter are you concerned how this may cut into the rest of your budget if prices going up more and you still have to buy gas. Yes, i have to cut back in a few other areas. Reporter like what eating out and things like that reporter it always goes to eating out gas prices could rise further in the coming week and stay that way for up to a month. Refineries coming back online and fuels start moving again in the system unless another Hurricane Irma is causing problems in other areas. Back to you guys diana olick in washington, thank you. Check out prices prices are expected to go higher lets bring in patrick dehahn, how sustain do you think these spikes will be the northeast have yet to see some of the spikes you will be greeted by hefty jumps in the next couple of days, think of 10 or 20 or even as much as 30 cents per gallon where the situation have cooled off in the great lakes and the southeast, mid atlantic area could see another t10 or 20 increase the total hitting can be anywhere from 20 or 30 higher. Diana pointed out the fact that a lot of the gas stations in South Carolina and georgia, north carolina, dc, are area, t get their gases from the houston refiners which is why gases are going up there what is history telling us about this there are several days. The Houston Ship Channels need to open those ships and off load refineries refineries need to start it will be several days before they start turning out, gasoline cab be put back on the pipeline. Sunday is a day of restart i think it could be later before we start to see adequateme amou of products being put back the issue you are seeing in dallas where people are making a run on pump and san antonio, the concern is it could be come a nightmare getting gasoline thats one reason why secretary perry is calling for a Million Barrels to be released from the Petroleum Reserve do you think thatll alleviate the pricing pressure well, it certainly helped but probably to a small degree we are talking about one refinery that got 500,000 barrels, so a drop in the bucket the bigger impact will be once that Houston Ship Channel reopens, it will have a Ripple Effect and all the refineries in houston and that could start us back to normalcy Ripple Effects across the country at the pump. Well be watching that, patrick, thank you now to what our next guest says will be a crisis for all petroleum in the state of texas next week. Harvey steinhagen, hes joining us now are you transporting anything right now . Um, we are moving fuel now today and as of this morning still, trucks are having lod logistical getting through and in some cases, it is being turned back. Southeast texas all the way down to the gulf coast it is created a huge strain on the distributor network. Harvey. Yeah, isn want to go on what you just said of a panic buying of apart of the average driver out there that you are seeing. Are you seeing people hording fuels at this point . Well, to a degree, i will say absolutely, yes. Everybody is concerned for their families and personal position and the most is fill up everything you have and especially if rubying generators supplies are short it could run out whats your sense of the refiners on the ground there, would they actually be able to start and get up and running whats the overall picture, the picture that we are seeing out of port author of where the refineries are, is there a massive flooding still they still have a lot in there and big time capacity to push out and working all the way back to carpus, we are harmed by flood waters, still and intermitten, electrical utilities and nobody is running at the moment but all are at start up mode and quite frankly trying to get the personnel back in plan, employees. All of them have their own personal Horror Stories of this year and these Refinery Companies are taking care of the employees first, getting them back on the job and get off their mind and get back to work. All right thats where we are at and thats all the way through corpus cristi. Harvey, thank you for the update harvey steinhagen. Good day. Here is whats coming up. Well hit on all those topics. Texass ceo is getting into immigration debate well look at the impact of darka. All that and more coming up on power lunch. If your brokerage offers some sort of guarantee . Guarantee . Where we can get our fees and commissions back if were not happy. So can you offer me what schwab is offering . Whats with all the questions . Ask your broker if theyre offering 4. 95 online equity trades and a satisfaction guarantee. If you dont like their answer, ask again at schwab. I. Prilosec otc 7 years ago,my doctor recommended. 5 years ago, last week. Just 1 pill each morning, 24 hours and zero heartburn. Its been the number 1 doctor recommended brand for 10. Straight years, and its still recommended today. Use as directed. Hey youve gotta see this. Cno. N. Alright, see you down there. Mmm, fine. Okay, what do we got . Okay, watch this. Do the thing we talked about. What do we say . Its going to be great. Watch. Remember what we were just saying . Go irish see that . Yes im gonna just go back to doing what i was doing. Find your awesome with the xfinity x1 voice remote. Still waiting for President Trump on daca. Sometimes over the weekend well have a decision. Will the president end the obamas program which grants Legal Protection for hundreds of children arriving to the United States when theyre under the age of 16. Ron, let me start with you, what do you think is the right thing to do here and when you say right, tell me are you thinking economically or politically or legally . Michelle, good afternoon to you, i think the right thing to do here is children who came here through no faults of their own and brought by their parents and of their legal status, they should protected president obama allowed children between the ages of 16 to 21 not to be deported what i believe President Trump will do on the other hand, he has a thin needle of a thread here on one happened, he campaigned strongly and get rid of these Program Supporters once you are in the oval office, you have to make the decision, i think he will lower the threshold down to 31 down to 20 or 18. I dont believe hes going to end this program we should highlight as long as you are below the age of 31. So there are people, i think people think it is about children but it is about people anywhere from the age of 15 to 37 at this point right what do you think should happen here . I agree with your guest and i think there is another aspect the Economic Impact and the president have been told about this there are 800,000 businesses are employing people through this program. It is a disaster we are often forgetting that one of the things that allowed the success of recoverage of katrina is legal and illegal who came to offer labor often lowering dramatically the cost of the recovery effort in new orleans and also jump start the recovery right now we need all hands on decks. I think the timing will be disast disasterous. I dont want to point out to viewers. Conservatives on conservatives conversations on this point. What are you say to the idea of that, this is an executive order and this is a long line of executive orders from president obama and if you do want to change immigration laws, thats how it should have been done michelle, i agree with that absolutely my good friend issued a statement half an hour ago he should believe that the president should act formally through executive action he believes congress should act. Congress has the ability through article one to set the policy. If we have discussions of what to do with folks who come to the United States legally or illegally, it should be done through congress and going through both house of congress, this is not a realm or an area of the exec tiutive order. Speaker ryan says he would not agree rescinding it now. Republican from senator from arizona says Congress Needs to take immediate action to protect daca kids. What would it look like and where does it squeeze in the priorities thats already on their plate this month oh, i assume thats what immigrant actions will require that hes not going to repeal the executive order and hes going to wait. Or hes going to change his mind he has in the past expressed the feedback that he can change his mind on something and maybe this is something that he will realize will be important to do. You talked about the impact of labor i dont know if you said it on air but certainly lower cost labors the other critics of this and that, it means cheap labor the wealthy people like Mark Zuckerberg are encouraging daca act because they want cheap labors americans that are born here are not getting as good of a job what would you say to them the number of people who are truly affected by becoming illegal or low skills immigrants, it is quite small. Now, i think there is a pretty clear case that immigrations is beneficial to the economy and not just to rich people. There is a lot of middle class people who are benefiting from being able to hire cheaper labor to take care of their children or their home allowing them to go to work Small Businesses like the guy who used to mow lawns and cannot hire anyone. The idea is that immigrants are able to reach people, i think is wrong. Does it hurt some people of course, it hurts some people, it is not to dismiss the people who are going to be heard by the competition. It is really preparing to the positive impact that it had on the economy. It is hard to argue that immigrants are bad it is a time that we need all hands on deck and we need cheap labor. Ladies and gentlemen, thank you very much. Good to see you thank you when we come back, fox sports is introducing a sixsecond commercial well have details up next you wont believe how much money j. J. Watt has already raised for Hurricane Relief well tell you how much. You are looking at port author texas, the rescue is under way right now as we speak. Pets are trapped in this house this is a live chopchopper, thet is pull ed into this house well be back in twominutes in. Tap one little bumper, and up go your rates. What good is having insurance if you get punished for using it . News flash nobodys perfect. For drivers with accident forgiveness, Liberty Mutual wont raise your rates due to your first accident. Switch and you could save 782 on home and auto insurance. Call for a free quote today. Liberty stands with you™ Liberty Mutual insurance. Fixodent plus adhesives. Theres a denture adhesive that holds strong until evening. Just one application gives you superior hold even at the end of the day fixodent. Strong more like natural teeth. Back to port arthur, texas right there. This is been going on all day. I hope they all find a safe home and if they adodont find r owner, theyll find a new home to go. News alert from dc, lets ged to jo get to john harwood. As heartwarming that was of the dog rescue authorities to rescue the American Healthcare act which is the repeal and replacement for obamacare that republicans have been pursuing expires on september 30th they advised the incentives of that, how long the so called reconciliation of authorities passing of republican votes and 51 votes would extend and expires at the end of fiscal year on september 30th if they dont get it done by then, theyll have to start it over fresh we know the congress and president want to get on tax reform just four weeks left, does not look likely. Senate committee is scheduled on hearing. The president says we. Ed to go back and repeal and replace. Window for that just got narrower a lot of people did not know how much they mattered until this. John harwood time now for the power run down three topics for our own julia borstein athletes and stars and team owners, julia, how much are they bringing in . They are bringing in a lot. A couple of celebrities made individual donation, Sandra Bullock and Leonardo Dicaprio and j. J. Watt, they each donated 1 million j. J. Watt helped raise nearly 15 million. Himself, he put in 100,000 but hes on twitter and instagram and hes asking all of his fans to go to this site and donate money. Now, it was amazing, this managing has been shared 400,000 times and they have gotten hundreds of thousands of different people to donate many people have shared the page on facebook than donated which i think is funny there you see it nearly 15 million raised arou Arnold Schwarzenegger tweeted that hes going to donate to j. J. Watts foundation a disaster at the box office 25 years low in terms of the number of tickets sold whats happening julia, is it going to get better in the fall . Nothing is hitting the many thousands of theaters that wide relief has hit this coming labor day is going to be the worst labor day at the box office and again at least in 25 years things will get better this fall we do expect to see some big movies from march valvels and s wa wars people have so many entertaining options that movies need to be reviewed because bad movies, words will spread very fast. The Movie Theater stocks have been hammered over the course of the year and the past three months today they are rebounding a bit. This is a media story that caught everyones eyes, jewel la fox sports is going to begin experimenting with six second ads during nfl games if they are shorter, does that mean it will be fewer of them . Possibly. Thats one potential. If you have a six second ad. Ift it may sound crazy, because of shorter ads, we are accustomed to shorter video ads these are more effective and less likely to put down the remote and go get a snack if you are watching a Football Game or stay engaged some of these may run on the side while the game is still going on while theyre taking a break. The idea that these ads are effective and valuable to fox per second you can barely get a haiku out in six seconds, julia. You will never know just takes a couple of memorable visuals and images it works on facebook. Three seconds on facebook, that counts as an ad. Each syllable of one second, so twominutes there you go. Amazon is having a great year, thank you, julia alibaba is having a great year one. Where the seet tris standing right now on this controversial start, next on power lunch. Hi everybody, i am sue herrera, here is your cnbc update at this hour. The navy helping rescue efforts in Southeast Texas this is tavarrescue video of louisiana border local Officials Say there are at least 46 storm related deaths. Fuel trucks are lining up in fort hood texas to help provide Harvey Relief. Dla energy is send eing 60,000 fuels. Tech billionaire michael dell pledging 36 million of his foundations money to aid in the Harvey Relief efforts. The texas native founded Dell Computers is the largest donor so far and honda is expected to announce a 605 million settlement with ta kada thats the news update at this hour, i will send it back to you. I love the michael dells story, 36 million it is incredible to see those High Network Individuals putting their money together absolutely. Wall streets stocks in september of some strong gains the dow crossing 22,000 for the first time in two weeks chl it is sitting at 22 points joshua is joining us now with more in san francisco. Thats right, melissa President Trump just spoke about the issue saying a decision could be coming soon we love the dreamers and we love everybody sometimes over the weekend and maybe this afternoon the president is facing a fight with executives though including many tech ceos signed a letter they are concerned of the futures of undocumented immigrants brought here as children unless we act now to preserve the daca program, all 780,000 hardworking people will lose the ability to work in the country and will be at risk of deportation. The u. S. Economies could lose hundreds of millions of billions of dollars an Immigration Reform group founded by tech leaders including Mark Zuckerberg who wrote, these young people represents the future of our country. The letter was signed by apple, tim cook and nadella who wrote we cared deeply of the dreamers. Microsoft says 27 of employees are beneficiaries of daca. Back to you. Thank you very much joshua. Good to have you here. Great to be here. Just so our viewers know, your organization is founded by Mark Zuckerberg and bill gates and a lot of entrepreneurs specifically because of immigration, right this is an issue thats so key daca appealing dreamers, this is fundamental and common sense American Issue here. It is great to see not yjust the people that you mentioned but the leaders of gm and starbucks. We have 400 leaders have spoken out. What percent of the 400 we have found at least 75 of the Largest Company of america have identified daca it is fair to say that every Major Companies of america is benefiting from daca in release of 72 of the top 25 companies i see thats 18. Can we extrapolate out that the rest of the 500 also have them or you are trying to get a sense of how we know the numbers we feel confident over half of fortune of 500 companies here and we are able to nail it down with Large Companies there it is somebody that has a couple of daca on our team. We are a Stronger Organization because of it. What are you doing to do in President Trump is not going to extend to it and the reason there is as deadline today and why we are talking about it today if it does does not end, theyll file suits to end it it was going to be an expansion, the parents of these kids and that failed. It seems like the program and we dont know whats going to happen with the courts system it can be doomed right away. The president says hes deciding the president is right about that the fact that hes being threatened with the attorney of general in texas with everything thats going on in texas, we are threatening to sue to over turn daca so they can restart deportation of 800 dreamers, thats wrong there is not a deadline you understand my question, right . If they file suits and goes to the court and you can lose anyway daca have been around for five years 800,000 people have been benefited from it. It is been around for five years. This is somebody in texas and nine other attorney generals who are under mining the president trying to keep this, obviously, he kept this so far. 200,000 people have gone through this program under President Trump. He can continue to do the right thing by keeping this program in place and calling congress to pass this. Todd, this is an issue that your group had been advocating for many months at this point. When i was on squawk alley this morning, you joined us several times to talk about this do you have any reasons to believe that you are making end roads. In the last two hours you have seen the speaker of the house, both came out and say, mr. President , dont rescind daca we have 40 different conservative leaders who pushed out statements from them saying dont rescind daca, lets pass a dreams path he does not want to see dreamers deported. He should keep daca. With all three houses controlled by republicans, something could get done but we have said that before. Exactly president obama had the same opportunity and i remember covering immigration back then the Latino Community was disappointed that real congressional action did not happen back then it had to be done Via Executive order. My point is it does not matter what side of the isle, it is tough for politics to rescind Political Capital to undocumented immigrants. I agree with you that both parties have made mistakes on those issues 85 of americans say dreamers deserve the ability to earn. This is the least controversial thing in immigration policies. You said it right there. Republicans supporting this and democrats support this maybe i am wrong but what i think we should find out, lets put a vote on the floor and the house and the senate well do it next week. Todd, thanks very much. Thank you the battle for internet supremacy have not only taken place online but being brought in the market. The nasdaq 100 is hitting another all time high today. The trading nation team weighs in on their prediction on where it is going. Power lunch will be right back your Insurance Company wont replace the full value of your totaled new car. The guy says you picked the wrong insurance plan. No, i picked the wrong Insurance Company. With Liberty Mutual new car replacement™, you wont have to worry about replacing your car because youll get the full value back including depreciation. Switch and you could save 782 on home and auto insurance. Call for a free quote today. Liberty stands with you™. Liberty mutual insurance. Chances are, the last time yoyou got robbed. An, i know i got a loan 20 years ago, and i got robbed. Thats why i started lendingtree the only place you can compare up to 5 real offers side by side, for free. Its like shopping for hotels online, but our average customer can save twenty thousand dollars. At lendingtree, you know youre getting the best deal. So take the power back and come to lendingtree. Com, because at lendingtree when banks compete, you win. Amazon verses alibaba. Future voices is joining us now with this continuous battle. Hey michelle. Also to get to half a trillion dollars in market cap. Over the last month, alibaba has had the edge of 10 and amazon have fallen down nearly 1 pear investors are able to love both these stocks this year both are expanding into new businesses like groceries and clouds alibabas investors fan basis growing this year and picking up shares this company has a ton of haters who are not backing down according to analytic firms, short positions and alibaba total nearly 23 billion that makes it the shorter company in the world by a mile take a look at this, the next firm is tesla. Amazon ties with netflix for sixth place with nearly 5 billion of interest this proves painful for the alibaba bears. For many of them it is not just about baba if the company or the country stumbles, they could see a payday but for now, the rate continues. All right, thank you very much lets get the next move of the trading nation, Morgan Lander is watching across adviser and well start with you, you are investing in 100 names, maybe the key to this is apple. We do own microsoft because it has a lot of growth potential. Apple have been a better product, people like to sell the reality of the delivery of the product as oppose to the promise. Theyll buy the promise and sell the delivery chad, in terms of your view of the nasdaq, we are seeing a break out of biotech, that could help giving this index to higher right, we like road stocks, keeping in mind, 40 of qqq has that five companies that represent that amount. We think that Earnings Growth and Revenue Growth is going to be there thats in a short run. Thats our short term view longterm though, we still think that returns are going to be hard to come by and going into year end, this is going to out perform the s p overall. Do you own either of these stocks, whats your view we are a value shop the pes dont let us do that amazon is strategy with web services and their retailing thats more interesting to us than alibaba all right guys, have a great week if you want a career and industry thats still around in the future, what should you do, we got some best and worse jobs tradingnation. Cnbc. Com and a word from our sponsor. A good first step of any Risk Management strategy is to determine the amount youre willing to risk on any given trade. Some traders use the 2 rule where they try and limit their loss on any given position to know more than 2 of their total trading capital. [vo] quickbooks introduces rodney. He has a new business teaching lessons. Rodney wanted to know how his business was doing. So he got quickbooks. It organizes all his accounts, so he can see his bottom line. Ahhh. Thats a profit. Know where you stand instantly. Visit quickbooksdotcom. If only the signs were as obvious when you trade. Fidelitys active trader pro can help you find smarter entry and exit points and can help protect your potential profits. Fidelity where smarter investors will always be. If youve dreamt of being a newscaster, you might want to reconsider kip linger is out with the best and worst jobs and well get to newscasters in a second but first i want to talk about the best jocks for the future. Number one is app verl, and a little more than a decade ago apps didnt even exist why will we know they will exist and not be usurped by machines a decade from now . Its essentially the latest evolution of an existing field which is Computer Software modeling or development. Its just that its now on a new platform its the magic of your phone they are creating the magic that its doing today and they will be creating the magic that its doing in the future, and we see a lot of growth for that over the next ten years. Whats the methodology here well, we working with an Economic Forecasting group called emsi we took 785 popular professions and then we considered how much job growth they are forecast to get in the next ten years what those jobs will pay and finally reconsidered how much education they required. We didnt want ones that saddled people with too much debt. Interestingly on the best jobs for the future, Market Research analyst is one of them, but in the worst jobs for the future legislator. How can you not automate Market Research but you potentially could make lawmaking obsolete . Well, Market Research, lets look at the growth Market Research analysts, the two words here are big data, so firms are collecting so much more data. They are getting they are getting soft wear to help them analyze that, but that Software Still needs people to interpret the data, to help set the systems up and to help businesses understand what they are seeing in it now, legislators thats kind of a funny one frankly, its just not a growth field. Just not a lot of jobs going to be added for legislator, and for many people, remember, its also a parttime job. Some of the other worst jobs in the list, textile machine worker, photo processor, thats a given, furniture finisher, floral designer, metal and plastic Machine Operator and doortodoor sales person, print binding and finishing worker a lot of those are in a lot of very different spaces. How did you guys come up with those . Im sorry, a lot of different what a lot of different spaces and a lot of Different Industries for a lot of different types of skill levels. Right but youll see a lot of them involve handiwork, craft work, things that can be automated take the furniture refinisher, for example, that as people become and shop for replacement furniture at ikea, they are not holding on to that Brown Furniture they are going to get from their parents and they are not paying to have it finished, so the handson croft work like that, shoe repair, carpet binding, those are going away. Well, its a great read for the backtoschool set, david, we appreciate it david maal fm iplbm,rok linger. Check, please is next. Where one Supreme Court justice was hanging out recently, the Supreme Court . Im living that yacht life, life, life top speed fifty knots life on the caribbean seas its a champagne and models potpourri on my yacht made of cuban mahogany, gany, gany, gany, gany watch this dont get mad bell mnemonic get e trade and get invested on the back of harvey, automakers have really gained a lot of steam gm is up 5 for the week phil lebeau added its the mary barra high under her tenure and it was the major cash for clunkers, big transfer of wealth from the Insurance Company to the consumer and to the automakers. Ive got one eye on mexico city where the second round of nafta negotiations are taking place starting today and ending tuesday. Weve heard the president say he wants to withdraw, but behindthescenes they are negotiating. Aaron judge has a section of fans called the judges chambers and they go to games dressed up in judges robes and have foam gavels last night a real judge joined them, Supreme Court Justice Sotomayor which we showed a live picture. All rise for the judge. Judge seeing the judge. Thanks for watching power lunch. Thanks, kayla, once again. Have a great weekend. Closing bell starts now. Welcome and happy friday to closing bell. Im sarah eisen in for kelly evans at the new york stock exchange. And im sean connery. Welcome back with a new look. Oh, thank you its the new glasses what do you think . You like the new glasses with the mix of a new goatee . I forgot to shave this morning. By the way, the folks at hq dont have a fit it wil