Of apple power lunch starts right now welcome to power lunch. The green bouncing back. The major averages on track to end the week down about a percentage point check out shares of apple jumps on that production report. The stock is up more than 3 climbing back for the all time high of 232. 35 which it exactly one year ago today well have much more on apple a little later on. Expectations for a rate cut or two this year are on the rise this week. Federal reserve chair Jerome Powell spoke at a fed listen event. Lets get to steve who joins us from boston with the headlines kelly, the fed chairman speaking right now at one of those events with the fed taking up public commentary he is noting that the Unemployment Rate is near a half a century low which is what i would have said if the chairman hadnt said it he said inflation is running below the 2 objective its caused the economy in a good place which is the praise a lot of fed folks have used it does face some risk including low growth and low inflation it gives the fed a little less room to cut. He said its important to sustain the strong job market. We got a chance to talk about the job market a few hours after the numbers came out pretty upbeat but said hes watching numbers carefully were getting the kind of employment growth i would expect in a stable economy. The bigger question is whether it ends up being weaker from here and that depends importantly on what happens on the consumer side of the economy. Heres the numbers everybody shouting about and trying to figure out what it all means for the economy. Came in at 136,000 that was below the expectation july and august in business are a pretty good sign of 45,000 a lot of that revision was from the government sector being revised up both the current report and prior one show private sector is pretty weak. Average wages are unchanged. They were strong and theres the Unemployment Rate at 3. 5 . We have a big difference between the Household Survey and Payroll Survey well have to figure that out over time. Labor was 63. 2 we have the one argument this is all the weak jobs numbers are all about the inability the find workers. The other one say its all about trade. Let me read you two comments that were out quickly. This is as good as its likely to get as long as the trade war is not resolved. Leading i understa ining i unde tors point to 50,000 or so by the end of the year. Job growth has slowed due to a tight labor market its more difficult for firms to hire take your pick and ill give you a fresh read on where we are a 75 chance of an october rate hike and a 42 one in december thats down a bit. Steve, appreciate it. Thank you very much. Pleasure. As we had mentioned its been a wild week for wall street it started on tuesday that weak manufacturing number triggering a two day sell off things seemed poised to get worse on thursday. Market bounce back and the chance of rate cut for october shot up. Today seems investors got the job report they wanted lets head over to bob for more. A lot of people are saying goldilocks thats about right. Were in a sort of slow melt up mode today its happened several times in the early part of thy then around 11 30 we passed earlier lows and there was a volume spike. We were moving on the up side. Then it happened a few minutes ago. Lets call it a slow melt up as the s p pass the earlier highs in the day that other volume spike a few minutes ago as we hit the highs. Whats behind the rally right now . Weve got the jobs report cool down some but not all the talk about a recession in 2020. Thats the important thing the other big question, did it cool the feds to likely cut rates again at the end of october. Most feel it did not the fed is likely to cut for the third time this year its not Strong Enough to eliminate fears there isnt a slowdown but its not weak enough to confirm that things are falling about. Its not weak enough to confirm the bare narrative we need stronger data in the future to get this Recession Risk off the table we dont have it yet whats next . We have trade talks. We have chinese delegatiegatiodn the expectation is pretty low. There isnt an urgency because of the Economic Data maybe well get something. Well get earnings thats heart of the earnings season it will be excellents. The Fourth Quarter is looking with jpmorgan. On the 15th, well get wells fargo as well. Johnson and johnson. Those deep cyclical industrial names. The bottom line is well have a good idea in two weeks about where the trade negotiations are going and also Fourth Quarter earnings commentary which will mover the markets. Kelly. Thank you very much President Trump pumping up expectations for the u. S. China trade talk set for next week and the impeachment inquiry. Eamon joins us from the white house with more. Reporter the president talked about the trade negotiation. He said that ultimately the chinese delegation is coming next week and well see what happens. He was happy to talk about the jobs number. He gave an enthusiastic review he was immediately asked about his controversial comments, his suggestion that the Chinese Government should investigate joe biden. I asked the president if thats linked in any way to the trade negotiations i asked him if hes more likely to do a trade deal with the chinese if they investigate the bidens here is what he said no, it has nothing to do with it i want to do a trade deal with china but only if its good for our country. It could happen. As you know they are very much coming over next week, as i understand it. Id like to do a trade deal with china but only if its a great trade deal for this country. One thing has nothing to do with the other. Reporter the president making a clear separation there between the suggestion that the chinese should investigate the bidens and the ongoing trade negotiation. Ive asked if he asked any foreign leaders for corruption investigation that do not involve his political opponents. The president said well have to look at that but he didnt have a specific answer at the top of his head in terms of other corruption investigations he may have asked other foreign leaders for that dont involve his political opponent the president saying hes very concerned with corruption generally. Thank you very much the trade deal and the feds next move hang in the balance as stocks remain on track for their worst week in nearly two months. Can the market rally in the face of all that uncertainty . Lets bring in larry adam. Peter bookbar. Why dont we begin, gentlemen, where eamon just left off. Thats the discussion of a possible trade deal with china is it as binary and simple as if theres progress on trade the market can make progress if there is not progress on trade, the market may be in for some rough weeks and months ahead. Yes i think you need to see some progress it doesnt mean you need a definitive deal but as long as the tariffs, the third traun of does not get fully implemented, i think that would be a positive for the market thats because its tied to the economy. If you look at the tariffs that hits the consumer pretty hard. 60 of those directly to the consumer i think we need to see progress there. I think the president needs to get a deal if he wants to get reelected because this economy would be in trouble if we get those tariffs implemented. Peter, your thought os on th point on the trade deal of whether it would spell trouble for the market lets talk about the jobs number and get your thoughts there. Some people are characterizing it as goldilocks, not too hot, not too cold i think you take a slightly different view theres something for everybody within that. You had people looking at a positive that led to the 50level in the Unemployment Rate you look at the private sector its a three month average and its only about 119,000. Thats half at the rate of which we average in 2018 its clear where the drirection of job growth is going i understand thats the difficulty in finding workers. I think theres no question over the last couple of months, particularly august 1st when we were threatened with the traunch of tariffs they are not willing to commit further expenses until they get a sense of where their revenue line will be peter, one of our guests today said one of the things hes paying attention to is survey da that thats come out over the past few days has been largely negative manufacturing, that kind of stuff. The real data paint a different picture. Talk me through that if you agree or disagree. The survey data is more timely the hard data that will show up in where the soft data is going is what well see over the next couple of months you take the september isms, a lot of these businesses were surveyed up to a couple of weeks ago. That change and attitude which will then affect capital spends will affect higher plans that shows up in the months to follow most important number i think we need to start keeping our eye on right now is jobless claims. Not only because its a High Frequency number and out every single week but thats the next thing we have to watch for we have a turning of that and a slow down in the pace of hiring. Will we see an increase in firing and i think that will depend onto whether we have a tariffs being taxed if theres no deal where that gives us some relief even though tariffs will remain which i dont think is a god thing eith good thing either. The data we got this morning was back ward looking. Its not as the survey data is taken up pretty much to the last minute with that in mind, we see the market bounce like this, do you buy this bounce . Are you convinced this bounce is real i agree with peter. I would say a lot of time that could be very fickle and change very quickly i agree these High Frequency data points such as the jobless claims and with holding patches they continue to paint a pretty strong underpinning to this economy. I think thats a positive. Thats one of the things that will help the committeconomy. As long as this does not go into a recession, i think we can move higher in this equity market i will point out historically seasonality is a very good factor after some choppiness, 80 of the time you see the Fourth Quarter being positive that extends into the fourth year of an election cycle. 90 of the time you see the markets positive in that election year. Im pretty confident in the equity market. We think we end the year at around 350 for the s p 500 and 3125 12 months from now. Thank you have a good weekend. Thank you coming up, the hottest mobile video game ever smashing down low records for activision. Apple has a surprise for its suppliers. It needs more iphones. Power lunch will be right back so. How are you feeling . On a scale of one to five . One to five . Its more like five million. Theres everything from happy to extremely happy. Theres also angry. Im really angry clive actually, really angry. Thank you. But what if your business could understand what your customers are feeling. And then do something about it. Turn problems into opportunities. Thanks drone. Customers into fanatics change the whole experience. Alright who wants to go again . I do i do i have a really good feeling about this. Sometimes, they just drop in. Obvious. Cme group can help you navigate risks and capture opportunities. We enable you to reach Global Markets and drive forward with broader possibilities. Cme group how the world advances. Welcome back apple jumping as they asked suppliers to increase iphone production by as much as 10 josh has more on this demand maybe those new iphones will prove morepopular than many expected telling suppliers to increase production of a new iphone 11 line up by as much as 10 or eight Million Units to meet better than expected demand. Apple declined to comment on that report. Remember tim cook telling reporters that sales of the new iphone 11 series are off to very strong start he did not reveal specific sales figures. Apple with these new iphones did emphasize figures that we know Consumer Care a lot about. Speed, battery life, cameras price was a selling point too. The iphone 11 was priced 50 lower at 699 bucks Deutsche Bank says the growth does look increasingly more reasonableable if this report proves to be true. Investors have piled in. Apple has soared more than 40 this year. They consider how they expected 5g iphone next year would impact demand in the quarters ahead this increasing chatter and excitement about that device have appetite for the current iphone 11. Our next guest bought the stock during the recent market turmoil. Joining us is dan niles. Why did you speak up apple i mean, we talked about this in some prior tweets that we had. September 23rd we put something out saying it makes zero sense to us. It was a trade war attack. Hong kong, brexit that the markets up here given what the bond market is doing we were pretty negative then as the market started to slide over the last three weeks the s p has been down every single week our view was were getting close. We put out a tweet on wednesday saying we covered our entire s p short. Whats the biggest stock in the s p. Thats apple degrees this recent slide aing should go with it. Were a lot more positive. In the supply chain than we are on apple itself. I think thats where the real disconnect is. The report this morning they are asking suppliers to increase that has more to do with the disconnect between inventory and revenue than anything else we think those companies will benefit a lot more than apple. Which company specifically in that report indicated the suppliers were reluctant to actually increase production because they werent really sure that this demand would actually be there thats the exact comment that people should be focused on that you just made. Go back to a year ago. Apple stock hit an all time record high in early october and the company sounded pretty bullish. I think we all remember what happened in december by the way, in early october, we had a trade war going on with china and a lot of other companies that were affected by the trade war were getting clobbered but investors chose to ignore that and keep buying apple. I think here are the raw numbers. You look at apple the march quarter revenue was down by june that had gone to up one which isnt great. Its better than negative five if you look at their inventory, it includes nontrade receivables went from plus 2 to march to minus 14 in june. If youre supplying sbo ining s between march and june your business got hammered. What youre seeing today thats why the suppliers are reticent last september they were being begged by apple to give them tons of components and 90 days later apple employees up and getting rid of all this inventory. Thats why the suppliers are reluctant. Dont forget, apple doesnt have 5g phones. A lot of the chinese competitors do obviously were in a trade war with china the Third Quarter is nice but its not the quarter that investors should be focused on what they should be fo kcused on is the december quarter. Thats 37 for revenue from september to december. Much like last year thats the quarter you should be worried about especially given apple doesnt have any 5g phones are you trying to imply apple might be in for a repeat of last year which would be a huge disappointment for investors absolutely. I think apple is a great hold through the quarter because i think people are looking at whats happening again apple inventory is down 14 in june their revenue is up one. Thats a huge disconnect if youre supplying to apple it should sound good. Theres no way to track it directly a lot of people are looking at the component stuff. Thats going to sound way better than whatever apple is doing by time you get into the Fourth Quarter especially the inventory build is what i think it is. You have tariffs go up on september 1st. People are worried about tariffs going up on december 15th. They will be pulling a ton of Semi Conductor parts in front of that so they dont have to deal with tariff increases. It wouldnt surprise me to see an increase. Well see how the data goes. Maybe people like purple phones much better than i think maybe they dont care about 5g i dont think thats the case but ill be watching the data and see what happens all right, dan. Well hope to hear from you then thanks a lot as we head to the break take a look at the markets. We have quite a rally going on. Dow up about 280 points. 282. Shares of ge down 5 this week today one of the biggest bears piling on in a 90page note. The golf legend gary player will be here. Well talk to him about the future of his golf exploits and e efforts. Stay with us you should be mad they gave this guy a promotion. You should be mad at forced camaraderie. And you should be mad at tech that makes things worse. But youre not mad, because you have e trade, whos tech makes life easier by automatically adding technical patterns on charts and helping you understand what they mean. Dont get mad. Get e trades simplified technical analysis. Welcome back to power lunch. General electric sitting out the market rally after jp morgan analyst warned of weakness in its Aviation Unit in a nearly 100page report this morning this caps off a wild ride for the stock. Ge up more than 50 this year at its peak but now down 24 from that february top. Lets bring in your trading nation team. Steve from Blue Line Futures bill, what are the charts tell you on ge . An ugly situation for a while. If you take a look at the chart over the last year going back to the december low, theres a trend line down there about eight bucks. That could bring support what were looking at is the 50day moving average crossing back to 200. Given that 200, we just failed at that. Eight bucks is some support there. I think were going to see some under pressure potentially if you believe that some of its parts are worth more than this price here if you break ge up, back that chart out. You look back to 2009. You have a trend line 2009 hitting that december low. That comes in around six bucks 6. 50 is where you can look for some long term maybe this is worth more than the price is 6. 50, i think thats where i sold just dont follow my advice. Lets move on. Steve, tell me what you think. I know you would only own it in your index funds whats your perspective on this company as you place it in the larger context of value and cyclical industrial companies. We think u. S. Large caps in three buckets. Growth names, dividend focus names and value cyclicals. In order to really like the value cyclicals you have to believe that the Global Economy is on the verge of reaccelera reaccelerating we in a period of Slower Growth and increased stimulus. When you look at g earthquae, y some supply chain issues you have the note just a couple of days ago that was rereticent. We think ge is a bit difficult thank you very much bill, thank you. Have a great weekend, gentlemen. S you too for more trading nation head to our website or follow us on twitter at trading nation. The jobs report not as weak as many have feared but how will the rise of automation impact the future of the labor market well discuss that out trader releasing its cigarette alternative in the u. S. Will the launch go up in smoke a power player gary player is in the house. Hell join us live when power lunch lunch returns carl, i appreciate the invite here. As my broker, what am i paying you to manage my money . Its racquetball time. thumps ugh carl, does your firm offer a satisfaction guarantee . Like schwab does. Guarantee . splash carl, can you remind me what youve invested my money in . Its complicated. Are you asking enough questions about the way your wealth is being managed . If not, talk to schwab. A modern approach to wealth management. Thats where i feel normal. Having an annuity tells me my retirement is protected. Learn more at retire your risk dot org. So servicenow put your workflows immhm. Cloud, huh . Your employees must love you. Thank you. Ah, you could say that. So how are things with you guys . Great. Thank you. Thank you, sir. Lunch next week . Terrific. Say hi to the team. Will do. Call my office, i will. Sounds good. Alrighty. Servicenow. Works for you. Welcome back, everybody. Here is your cnbc news update. Ukraines prosecutor general says that his office is reviewing all the cases that were closed by his predecessors including several related to the owner of the gas company where former Vice President joe biden son sat on the board theres been no evidence of wrong doing by biden or his son. President trumps reelection effort raised 45 Million Dollar online on a surge of small dollar donations driven by 313,000 first time donors thats according to campaign officials. It was part of 125 million that was raised in the quarter. Hong kong riot Police Firing tear gas on protesters before charging towards them. Protesters were seen vandalizing shops in the area that belonged to progovernment owners they used Emergency Powers to ban masks at rallies many the hardening of the the governments stance toward the protesters diahann carroll, the oscar nominated actress and singer who won critical acclaim as the first black woman to serve in a nonservant role in a tv series as julia has died. Her daughter says the cause was cancer she was 84 years old you are up to date thats the news update this hour back to you. Thank you. Lets get a market check here because were pretty much sitting at session highs the s p 500 up by almost 33 points or 1. 1 29. 34 is your level. They are in the nasdaq up by 90 points or more than a percent. The jobs report surprising a lot of the bears with nonfarm payrolls coming in just below estimates and unemployment hitting a 50year low. Despite this theres major factors facing the job market. Slowdowns in manufacturing and Services Trade war, automation and a widening skills gap. Kate rogers is live at a samsung factory. Reporter thats right the National Association of manufacturers says theres more than half a million open jobs in the sector 4. 6 million jobs will need to be filled through the year 2028 and and half of them may be left open thats due to a widening skills gap. If were not successful in closing the gap, its bad news for america. Were not going be as competitive as we need to be it means americas economic might will not be as good as it should be. It means lost opportunities or lower standards of living for americans in all areas of the country. Reporter thats why manufacturers like samsung are actively recruiting workers. This plant opened two years ago. They have 800 employees and say they will need an additional 200 workers in next few years to keep up with the growing demand for the washing machines they are making here. They are participating in National Manufacturing day opening their doors to a middle and High School Students in order to get the next generation of potential workers interested in careers and manufacturing that have becoming increasingly cleaner jobs and much more hightech than in years past back over to you thanks very much. Kate rogers. One of the reasons for the growing skills gap is technology 40 of americans are in shrinking job roles. 14. 7 million Young Workers are in highly automatable jobs by 2030, 60 of job growth could come from only 25 cities with us to dive deeper is susan lund welcome. Thank you hi this has resonated a bit on the campaign trail this is a big part of andrew yangs argument about universal income theres a lot of people who think this is a huge threat to their future what makes your forecast different than others we have heard over the years that claim robots are taking our jobs when on day like today its pretty clear theres employment throughout theres historically low unemployment were not saying there wont be jobs robots will change our jobs. We look at the tasks and activities that people do every day in their jobs. What we find is for most jobs machines can do some of what people do but theres still room for people when you think about a retail cashier, we can go to a selfcheck out machine and give our payment. What we need to do when we need to find something in the store we want to ask someone theres a shift from cashiers to sales people i think that overall what we foresee in the next decade is a massive transformation and shift in what people do but not necessarily a shortage of jobs you say Young Workers are at risk of displacement upwards of 15 million of them are in highly automatable jobs how are we seeing this playing out today . How is Technology Changing the way that people work were seeing it all over the place. In the last 20 years we saw manufacturing but now youre seeing it in white collar office jobs like executive assistants youre seeing it in fast food and retail whats different is the pervasiveness of technology. Its a real challenge for young people who are coming into the work force in jobs like retail, fast food. A lot of the jobs are your first foot in the door if nose goes a way theres a question of how to get young people onto an upwardly mobile career path. I think it will come down to more education and more skills youll need more than a High School Degree to be employable in the future. Is it fair to substitute the word low paying for young people in the scenario you paint . In other words, is automation likely to displace more low paid workers than high skilled high paid workers thats true what you should replace the word young people with is people without any kind of postsecondary credentials somebody who has a High School Degree or less is four times as hikely to be in a highly au automatable job than someone a a College Degree or more this isnt to say every one needs to go to college but theres a big up tick if you have any kind of postsecondary credential whether its two year degree or shorter online credential that gives you some kind of marketable skill i wonder about programming. Thats one area where theres really good targeted programs that can get people to the work force right away that can bypass college. Those skills once they dont keep up with the times, what happens to those people that have a college education, for example, to fall back on or skills they can take from one industry into another . I think what will become the reality is that people will go through training and retraining throughout the course of their career the model where we go to school for 20 years or the first 25 years of our life and we go work for 40 years and never go through another training or educational program, like that era is over. As you point out when you learn skills today, say you learn a programming language well then you need to learn python and it continues to change. I think all of us will have to get into a mind set of Lifelong Learning and updating our skills how do you think this plays out into the data wages . Does automation cap wages or as you mentioned because robots can learn skilled, unskilled tasks, do workers then become more valuable and get higher wages in the long run i think it depends on Public Policy and how we work with the changes under way. If in fact you are taking away a lot of sort of middle wage jobs like an executive assistant, a junior accountant, loan under y underwriting, a claims processor. If you take those people and dont give them the ability to get other growing jobs in health care or technology or in sales and marketing they might be competing for the same low skill, low wage jobs out there and drive down wages if on the other hand we take that idea of the coding boot camp and create short term programs in a matter of weeks or months to help someone say a bookkeeper go learn a few new skills and become a tax adjuster the tax adjuster role is much less automatable thats a good outcome because you can earn more money. You have a better job instead of migrating downward and competing for low wage jobs. When excel was invented people said all the bookkeepers will be out of work. Thats all the women no there was no affect like that. Now we all use excel. Created an entirely new industry and a lot of jobs for young people and women and so forth. Absolutely. One thing i would say. This is why we dont believe in the jobless future our Research Suggests technology over time creates jobs now for an individual worker it could be a bumpy transition. Right we were seeing in retail theres 50,000 fewer retail workers than two years ago in large part because of ecommerce we will see shifts in the labor force at an individual level that will need to be navigated overall there will be jobs out there. All right thanks very much thank you to the bond market now rick is tracking all the the action hey, rick. Its been a wild day. Look at it in a day of twos. Were unchanged on the day were down 24 basis point os on the week look at one week are down 16 basis points on the week my favorite graph, stock market is close to the highs. They didnt have a problem with jobs report but look at a sevenday chart with s p on top of ten year note yields. Look at the divergence today if you look at treasury yields you would not think they joinnjd the labor report theres a lot of things that continue to pressure u. S. Yields lower. Back to you. All right thanks as the crackdown on vaping products continues theres a new cigarette alternative. A heat eed tobacco product in t u. S. We have the details. Much more power lunch right after this imagine a world where nothing gets in the way of doing great work. Where an American Icon uses the latest hr tools to stay true to the family recipe. Where a music studio spends less time on hr and payroll, and more time crafting that perfect sound. Where the nations Biggest Party store can staff up quickly as soon as its time for fun. This is the world of adp. Hr, talent, time, benefits and payroll. Designed for people. Ive done all sorts of research, read earnings reports, looked at chart patterns. Ive even built my own historic trading model. And youre still not sure if you want to make the trade . Exactly. Sounds like a case of analysis paralysis. Is there a cure . Td ameritrades trade desk. They can help gut check your strategies and answer all your toughest questions. Sounds perfect. See, your stress level was here and i got you down to here, ive done my job. Call for a strategy gut check with td ameritrade. The number of case offense a deadly vaping illness continues to rise with 18 confirmed deaths in more than 1,000 confirmed cases across the United States altria has released another cigarette thats supposed to be safer for the consumer iqos just went on sale we just lunched for the first time the first market is atlanta. They opened a store in an upscale mall you can buy the device and the heat sticks which are the little tobacco sticks that go inside the device interestingly you have to be 21 years old in order to enter the store. They check your id when you enter and ask you if youre a current smoker they say if youre not a smoker then you will not be allowed in. The market is extremely limited for this device. Its very limited and you can only buy it at that one store. They will be opening another store as well as kiosks around the city youll be able to buy the heat sticks at about 500 stores but you can only buy the device. It heats tobacco. It does not burn it. What do you get when you inhatie do you get nicotine . Is there smoke or vapor that goes into the air and might affect you or your child or what they call it an aerosole. Its like an ecigarette it does contain tobacco. It does not burn theres no ash and no smoke. Presumably youre not ingesting the carcinogens that come when tobacco is burned . The fda says studies found it produces fewer toxins. Whether that means its safe, no no tobacco product is safe the idea in theory is its less harmful. Theyre trying to avoid getting pulled off the market if people walk in and say they are a smoker when they not going to become one they cant scale Something Like this or enforce it they have a tough slot. The issue is the fda in authorizing this device for sale is clear about the fact it does not want new people to start using Tobacco Products they dont want to end up in the same position where we are with e cigarettes right now where you have all of these kids using these products the fda determine if youth use is a problem, they can pull the product from the market. Every quarter there needs to be data sent on who buying the product. How old they are they have pretty strict requirements thats why they feel its worth the investment to make sure the product is getting sbo the right hands and people are using it because if you continue to use this and cigarettes then theres no point thank you very interesting. Mpl coming up, gary player is here we talk to him about including his work to keep the future of golf strong. There he is making his way over the set. How does he stay so fit at 84 years old . We have a lot qstnsofueio dont go away. There are things we would change about work. And there are things we wouldnt. When work is worth it. Work is worth it. Work can be closer to home. Pay more. Make us proud. Careerbuilder. Work can work. Find your work at careerbuilder. Com golf from playing to watching to reading about the game is now an 84 billion industry, and after years of decline following the great recession, the sport has stabilized and started to see growth again while the number of courses growing these days outgrows the number of openings, offcourse play at places like top golf spurring new interest. So will a new generation take up the game that folks like yours truly enjoy, some of the time . Lets ask one of the great ambassadors of the game, gary player tell us first why youre in town youre here for a twoday proam tournament that benefits a foundation of yours. Its the Gary Player Foundation and weve been very blessed as all foundation or any charitable events, weve got good sponsors. We have people like sap, we have row lex, and the bank that i work for is one of the most incredible banks in the world in germany. And theyve been fabulous sponsors absolutely fabulous. And the Charities Benefit home and Different Countries for example, in england, we built a home for homeless. People sleeping on the streets at night and they are now doctors and lawyers and such has given them facilities china, we built things for aid centers and built aid centers. The nice thing about all of these charities that were involved with, you can go there and you can see whatsdone in south africa, we built two schools. Its nice for people to be able to visit who are interested to see what has been achieved tell us about the health of the game as you see it around the world. There has been sort of a leveling off in the number of people who are playing in the United States. I think its a harder sell these days to young people who are used to playing on their devices and golf is a hard sport and a timeconsuming support it is time consuming. So what have we got to do . Weve got to bring in new rules to speed up the play i dont think thats quite sufficient, however. What weve got to do is build shorter golf courses for a man called jadi barris, we built a golf course thats 12 holes. You can go with your family, have breakfast, nice little par three, get it done in an hour and a half to three hours, its not time consuming, you have th rest of the day. That works for me yeah, why has it got to be 18 holes . Anything that will speed up the play i might be able to score in the 60s on a 12hole course. You certainly will. But if you go to st. Andrews in scotland, you can get through a round of golf in three hours but now you see pros setting a good example they come out with a book and are reading a piece of paper on how to read the greens they dont putt any better than the bob charles and all of these great players that played. Tiger woods never had a piece of paper and nobody putted better than he did. Weve got to eliminate all of these things that are taking too much time. And weve got to realize that golf, im 84, i can still beat my age by an average of ten shots a round. Admittedly, i take care of myself to do it. But no other sport can you do that to the degree you can in golf and i can tell you that you do business on the golf course, have a sport that has longevity, you make a lot of friends, its a game forever and its a challenge like youve never had. So with all of these new ideas coming up, golf a resurgence of golf. You say with, why do a golf course need to be 18 holes have you seen any demand for golf courses that have changed how theyre designed in order to accommodate the desire for a faster game . Yeah, like this one for this man, johnny morris, who has the best Sporting Goods store, he suddenly realized, he realized it was taking too much time and he has this resort and people dont want to see people on the golf course too long they want them in the resort and the bars and the pro shop buying things so its been very effective. And Jack Nicklaus up there, as well Jack Nicklaus has been a booster of this. And also to slow the ball down we have to have golf, we can have two different games theyve got young man today that are built like tarzan. Koepka. Koepka is going to be mickey mouse compared to these guys in the future these guys are going to be like proper weight rivlifters and thr going to drive the first hole to augusta. That will give augusta a very big shock to hear that, because they cant take the tees much further back than that but you know whats interesting about golf, youre not a person of huge stature tommy fleetwood, he is a slight man. And hooes one of the elite players in the world you dont have to be huge. But its advantage if you can have a great short game and hit the ball 380 yards or 400 yards, which is going to be a common occurs its a combination of everything but today, they are training with weights, which so many people when are adamant that i would never win another tournament at 35 i did win one at 63. And i sent that as an sms up there and said, i hope you see im winning at 63. But now theyre lifting weights and training youve got to be strong and eat properly i think i may say the greatest country in the world, the United States of america, the obesity level here, thats my great dream now that im finished to competing is to get young people to look after their body and realize its a holy temple, and be productive for this great country, which they could kiss the ground every day and realize how lucky they are to live here. Because what these eyes have seen, how socialism as crippled the world and the wars and the things ive seen, that would be my dream to see happen in this country. Youre 84, you shoot ten strokes under your age im not going to tell you my age, but i shoot 30 above my age. Gary player, my whole goal is to reduce the average cost per stroke thats why i hit more. Well, first 20 years are toughest kbl good luck gary player, thanks so much lets get a check on the markets as we head into the final hour of trading. It has been a very crazy week we have sta p 500 up, the nasdaq is higher by 1. 2 and the dow updy 286 1 2 points. Thats a gain of 1. 1 . Fascinating wrinkle that even though jobs report is making people a little less banking, youre not letting that hurt the market we continue to rally for the week, were still down about 1 . Is that right. For the week, we are down 0. 6 on the s p 500, which is almost nothing which is remarkable. Really nothing with all of the anxiety that was attended earlier in the week. Thank you for watching power lunch closing bell starts right now. Im going to sit here and talk to mr. Player. Welcome to the closing bell. Im Courtney Reagan in for sara eisen. At the hp post, that stock is down more than 10 on a session, on a day where the Broader Market is rallying back, chipping away at the weeks losses, just off session highs whats behind all of those moves, coming up im scott wapner in for wifflfrieed frost the headline, employment rate drops to the lowest level in a half century the president projects an optimistic tone on trade negotiations with china which resume next week and fed chairman powell says the economy is in a good place and its his job to keep i