Lunch begins right now. Im melissa lee coming to you from miami it is the tech event of the americas with us on the show today forget walking into a bank, this company is completely disrupting the way consumers now get loans, instant loans. The ceo of green sky is with us. Plus our exclusive with the ceo of sprint. Well weigh in on merger speculation with tmobile. And personal final guru suze orman will be along as well. Lets take a look at the markets this hour. The nasdaq continues to be the story today. Right now the techheavy index is down about a full percent doing the worst of all three major averages apple is a big reason why. The biggest, down more than a percent more than the next weakest sfok, united health. The stock getting another downgrade today, the second in a week for unh netflix, microsoft among the big tech laggards on the day ge investors making more than 3. 5 today this, of course, after Ceo Jeff Immelt announced he will be stepping down after 16 years at the helm brian . Sara, good to see you money is flowing out of technology you know that just by looking at our brightly colored screen where is that money going to now . Dominic chu knows the answer and hes here. The oneweek performance, you are seeing a rotation. Were not going to call it a great one because its subtle. Take a look at this because over the last week the bank stocks, the beaten up financials are up 3 one of the real bright spots in one week also Energy Stocks we know how badly its been for them 2 upside there and its coming out of, as sara and brian mentioned, two of the hardest hit sectors out of here into the underperformers over the course of the past week the outperformance of the s p 500 and technology, well, it has been technology all year so far but take a look at the big drop on the righthand side we he are seeing real weakness on a relative basis. Well see if that trend continues. The deeper discounts, take a look at some of these stocks they are well below their 52week high thats bear market so, guys, brian, the technology secotor right now about 16 or 17 of them already so far in correction territory you do know the answer, dom chu always money big money advice on what is best for your investments now joining us are robert and nancy with Heartland Financial bob, i know we have talked many times in the past, you have been a big fan of amazon. Youve seen whats happened. Two ways to look at it number one, amazons run is done youre going to sell or you still like it and, therefore, its cheaper and youre going to buy more which one might it be . I think you have to buy more. I dont necessarily think you have to be a buyer today, but i think you have to wait for this sort of shortterm correction to play out i think what you saw is a lot of folks sort of heading for the door once you start to see big money moving to the door, a lot of investors, a lot of selfdirected investors also move in that direction and you get this herd mentality. Amazon is an expensive stock, no doubt about it it always has been. No doubt about it. Sara and i, the same amazon valuation discussion the last 12 years. You called it a mini shortterm correction why are you so confident it is a mini shortterm correction and not something bigger i think it goes even to the government a lot of people were expecting the growth agenda to actually catch a little bit of traction this year. We havent seen anything of it weve seen the comey, the flynn, the concerns about the trump talking to various people and i think the market is going to come back to growth. I think youre going to see an economy thats just barely moving forward people will look for growth in their portfolio and i think these names represent it amazon definitely represents growth so i think once you start to see a clearing out of the weaker hand you start to see people moving back into these names nancy, sit tight. Well come back. We have breaking news out of washington, d. C. , with hampton pearson. Hampton . Reporter brian, the u. S. Appeals court in San Francisco has upheld in large part the ruling that blocked the trump revised executive order restricting travel from six muslim majority countries. This, of course, was the review of the ruling from the hawaiibased federal judge that blocked part of the trump order basically claimed it halted the entry of people from six muslim majority nations and refugees so now the ninth circuit weighed in supporting essentially holding off on that ban. It is expected perhaps at some point that the u. S. Supreme court is going to ultimately have to settle the whole question back to you. The legal fight will continue hampton pearson, thank you with us now were having a conversation about the markets with bob and nancy nancy from Heartland Financial, youve liked these big cap tech names. I think you like alphabet, facebook and microsoft so are you going through some of the wreckage over the last two sessions or too early within just two days to try to figure out whether its a buying opportunity . Well, thanks, sara. We are valuation driven, and i have been on talking about Large Cap Technology for the last year recently saying we are selling our apple to buy more facebook and so if you look at where we are today in valuations compared to 2000 were nowhere near the lofty levels that we saw back then and i lived through that period or barely lived through it but in addition i was recent ly at the bernstein strategic conference every ceo from Consumer Staples, discretionary, Industrial Supply chain, energy, were talking about technology as the way they were going to improve march gyps and intrees productivity so if we arent going to get help from washington the solution for gdp growth is technology we like harris corp, texas instruments. We do still like facebook and microsoft. On some pullback i would be happy to buy back some of the apple weve been selling bob, i wanted to ask you about ge, obviously in the news. You have been an owner of this stock. How unhappy of a shareholder have you been and how much does todays new decision, new announcement of the ceo change that if at all its funny because over the last few weeks weve been talking about it in our investment meetings. Weve been sticking with it because it is a core name. We do believe in the portfolio that they have it will bring in some change but we realize its going to take some time. The dividend you are pretty happy with but the overall performance and your total return has been down i think its going to take some time and i think youre going to probably have to wait until the middle to late next year before you see real changes start to come through i dont think you want to be a buyer of it here i think you have some time back to the growth names, it technology continues to power us forward. I think also the Specialty Retail eers, fames like ulta, starbucks. Louie will come on probably in about a week or two and will be say iing the same thing, youre going to be profiting long term. By ulta and i think youll be okay nancy, a final quick comment. It is spring its the season of love. Whats the stock that youre in love with now . That one threw me, brian. Thats my job weve been adding to stocks like home depot and ve at that on the payment side and we still like the Health Care Space though we recognize it will be volatile were investors not traders. I agree growth will continue i believe it will be growth at a reasonable price the world according to gart home depot and visa. We love having you on. Now to melissa lee who somehow found her way to miami today i know. I drew the short straw, didnt i, brian the tech teselloff we maysee head winds for the Broader Markets. Chief investment strategist at deutsch Asset Management david, great to have you with us the selloff weve seen fit into your thesis we will see a summer pullback we do expect a summer pullback but we dont expect it to stay down for long. We think technology is a pause that refreshes the valuations that got high, fundamentals are strong we have Market Expansion most of the big cap tech names took the option expenses into the nongap results, really good quality of earnings. We like tech we have been pointing out that we want to be cautious in the summer moving from tech to health care as a preferred growth play but we are still steering clear of value. Were very cautious on energy, industrials, and cautious on small cap for the summer part of your thesis, david, is that were not going to see any sort of tax reform until after the august recess and, therefore, you see the summer swoon but also valuations in the overall markets are challenging right now. Are there pockets you see challenging because a the lot of people might have said it is one area that had run up too far too fast and what sectors in terms of valuation are challenging right now . We expect it in future years, a long lasting cycle i think what you can say is true for tech valuations have gotten demanding but were not alarmed about it and now were in a seasonal period where people are looking to evaluate what the year end upside s. In order for there to be attractive year end upside we need a little bit of a pullback particularly until we see a clear plan for the Corporate Tax cut. Were not the going to see that until after the august recess. So we think the summer is a time for the market to cool down, consolidate, maybe some of the highflying on the chin. We think they come back strong and importantly rather than debating just exactly what tech does on every wiggle, we think health care is the opportunity here and we have taken some more cash weve raised cash because we think we havent seen the full bottom for the summer. So there could be more than a 5 pullback, is that what youre saying were expecting the overall s p to have a 5 , at least, pullback from the highs at least. We expect that. I dont expect tech to go down much further from where we are now. The real risk still sits energy, industrials, small caps, and i like financials for june we have the fed this week. The it tenyear treasury yield going down we expect to see it lead to dividend hikes the point here is dont back up the truck on value stocks. Financials, energy industrials, small caps they have yet to bottom. Got it. David, appreciate the time melissa, news alert in the bond market. Tenyear notes are up for auction. Rick san ttelli at the cme what does demand look like, rick reporter it wasnt as good as the three year. Yes, this is a doubleheader today due to the fact the fed most likely will raise rates wednesday. We have 20 billion nine year 11 month. We reopened them the grade was a c, to answer sara directly, an average grade. As you look at the chart hopefully youll see rates dropped after the good three year, rising after the not as good ten year. Lets go through the internals the yield 2. 195. Bid side on the wi so you can see it priced out of the box. 2. 54 bid to cover. That was pretty good, 66. 1 indirects wasnt bad, above average. 5. 3 on directs a little light. It gets a c and tomorrow, of course, we will finish 56 billion in supply with 30year bonds. 12 billion to be exact. Sara, back to you. That twoday fed meeting. Rick, thank you. General electric Ceo Jeff Immelt stepping down after 16 years at the helm a look at the company under his reign and what the company could become without him first, yuber is lucky its not a Public Company otherwise its stock would be down 90 according to our next guest. Where he thinks that 70 billion company goes from here coming up when this bell rings. It starts a chain reaction. Thats heard throughout the connected business world. At t Network Security helps protect business, from the largest Financial Markets to the smallest transactions, by sensing cyberattacks in near real time and automatically deploying countermeasures. Keeping the world of business connected and protected. Thats the power of and. I did active duty 11 years. My in july of 98. And two in the reserves. Our 18 year old was in an accident. When i call usaa it was that voice asking me, is your daughter ok . Thats where i felt relief. It actually helped to know that somebody else cared and wanted make sure that i was okay. That was really great. Were the rivera family, and we will be with usaa for life. Usaa. We know what it means to serve. Call today to talk about your insurance needs. With Everything Else going on, bitcoin one of the most highly traded assets down more than 10 right now i know youre the currency expert you go to some of the bitcoin exchanges i think its asset class they have it down as much as 13 . Thats after it crossed over 3,000 for the First Time Ever yesterday and outperformed almost any other asset that you look at so far this year stocks, bonds, dollar, commodities dont pile on because its been so good this is probably healthy and expected impossible to tell what the valuation is its an alternative sort of technology, a block chain where tech investors expressed in it like fidelity, the japanese government giving a signoff. Theres a lot of demand coming from overseas. Plenty of reason it could go up. Its highly speculative. Theres the bitcoin. I heard about that on wide World Exchange which you watch every morning. You know i didnt do it this morning so i could be fresh for you today. Major shakeup at uber chief Business Officer michael is out on the alleged Sexual Harassment our deirdre bosa is live the management crisis gets worse and worse. Reporter it continues, sara. The next big question is whether the ceo himself takes a threemonth leave of absence emil michael was the righthand man and ubers chief deal maker. Now hes the highest profile exit so far. He announce d his departure in a internal memo to his team saying yesterday was his last day and, quote, it has truly been the experience of the Fastest Growing company of all time. He has played a crucial role in growth he brought if major funding that helped reach the valuation he has also been attached to some of the startups biggest controversies and many wondered leading up to this point if he could survive that holder report now were waiting to hear if he takes a leave of absence and if he does there are very few people who could step in remember that its not just michael, the 20 plus employees fired because of the internal investigation, these are just some of the other names that have left. This exodus has been going on for months, guys, and there could be even more to leave tomorrow once that holder report is made public all right, deirdre, thank you very much. Uber is lucky they have not gone public yet because if they did their stock would probably be dropping like a rock on the recent run of bad headlines. Lets bring in the professor of engineering. Professor, listen, they are not public but a lot of our viewers may not know they do get valued, fidelity and others will mark up or mark down their internal valuation certificates, the last time this was noted by the journal uber had a valuation of 68 billion making it the most valuable startup in the world. Do you expect the next time we see these markups uber will be marked down . It depends on who they bring in to lead the company travis has to go he represents everything bad about Silicon Valley the ford ceo, they had need to get someone who has experience who can be customer centric and really transform the company at this stage of the company they need an adult running it not the spoiled brats who have been running it so far if they did that, the value could be high again. Its happening at every level of management, the company will be worth less and less. I said as much as 90 less, i made that number up. The value is declining because of all of the changes. Can i hear your point you get these 20yearolds who start companies. Despite all the missteps, the headlines, all the controversy, did indeed build the private company valuation. It does remind me of google. You remember they said they needed a, quote, adult to run the company as well. Is there any analogy here . Well, they brought eric schmidt in and eric did wonders for the company and now they have other very Senior Executives running google. Companies have to bring in experienced management that you can have spoiled brats building the first level of technology. Once you get your point you need professional management in there. Thats why i said we need names like mark field, jeff immelt or from ge. We need people who run billion dollar businesses and who can have the customer focus, transform the company. Jeff immelt just left as ceo because his stock underperformed during his whole tenure and was the worst performing member. On the valuation, the latest financials that uber put out in the first quarter, revenues grew 18 and losses are narrowing so clearly theres a management issue but why such a sharp markdown if the financials are Getting Better and its unclear what the impact is on consumers who use it well, because almost every layer of management has been guted now right to the top the company may not even have a ceo tomorrow if everything goes the way it should go youve had such turmoil over there, such a shakeup that theres no one in charge of the company right now. They have to get over all of this they have to bring the right people in. What they did in bringing in hold er and huffington and so o was very wide. Now they need adults to lead the company. Thats what will save the value of uber. Well see what that holder report shows theyre set to release it to employees tomorrow nice to see you. Thank you for weighing in. They dont have a ceo, maybe a coo, a cfo, a cmo a Senior Vice President of engineering. Someone on twitter joked its an autonomous company. Retail, space, and medicine. The good, the d d e ly xtbaanthug dad kinda walked into my swing. Huh . Dont you mean dad kind of ruined our hawaii fund . I thud go to the thothpital. There goes the airfair. I dont think Health Insurance will cover all. Of that. Buth my fathe without that cash from aflac we might have to choose between hawaii or your face. Hawaii what . Haha. Hawaii you might have less coverage than you think. Visit aflac. Com and keep your lifestyle healthy. Aflac and the wolf huffed like you do sometimes, grandpa . Well, when you have copd, it can be hard to breathe. It can be hard to get air out, which can make it hard to get air in. So i talked to my doctor. She said. Symbicort could help you breathe better, starting within 5 minutes. Symbicort doesnt replace a rescue inhaler for sudden symptoms. Symbicort helps provide significant improvement of your lung function. Symbicort is for copd, including chronic bronchitis and emphysema. It should not be taken more than twice a day. Symbicort contains formoterol. Medicines like formoterol increase the risk of death from asthma problems. Symbicort may increase your risk of lung infections, osteoporosis, and some eye problems. You should tell your doctor if you have a heart condition or high Blood Pressure before taking it. Symbicort could mean a day with better breathing. Watch out, piggies child giggles symbicort. Breathe better starting within 5 minutes. Get symbicort free for up to one year. Visit saveonsymbicort. Com today to learn more. Welcome back to power lunch. Time now for the good, the bad and the ugly first the good bed, bath and beyond among todays top performers in the s p. The retailer getting a positive mention in this weekends barons. Transdigm, elizabeth warren, the latest to call for an investigation into that Company Related to how it prices parts when it is a sole supplier to the u. S. Government. And then the ugly, ugly day for coherus biosciences. The fda rejecting its version of amgens drug still ahead on the show, jeff immelt leaving General Electric after 16 years is his departure a big chance for the company to transform well hit that coming up but first, back to melissa with more on whats coming up from miami. Melissa . Sara, forget the big banks, from Home Improvements to cosmetic procedures, how personal loans are made talking 42nd approvals hi, everyone im sue herera here is your cnbc news update this it hour u. S. Supported kurdish soldiers have begun to attack the isis strong hold in raqqah, syria u. S. Helicopters helped move the kurdish and arabic fighters to that region just a few weeks ago. Raqqah was seized by isis back in 2014. Attorney general Jeff Sessions to testify before Congress Tomorrow and he is asking to do so publicly he will testify before the Senate Intelligence committee as part of the russia investigations into election meddling United Pet Group is recalling dog chew products sold nationwide the company used a compound that has not been approved for use here in the u. S. It did receive limited reports of pet illnesses and the years first auction of black densuke watermelon in japan did not disappoint one sold for more than 4,500. Another going for more than 3,600 the pricey fruit is a popular gift and known for its shiny black rid and apparently very sweet flavor i would hope so at 4,500. Thats the news update this hour back to you guys sue, heres the amazing thing about japan is that we hear every year theres no recession, no growth, the economy is in tatters, theyve had five recessions in five years and every story about the most expensive fill in the blank tends to come from japan sold for 6,000, sushi they appreciate the finer things very well said. A 4,500 watermelon is the finer things apparently so i guess it is its not even seedless sue, thank you hopefully its seedless i saw the girl spitting seeds out. Another look at your money the markets right now, theyre down the nasdaq is down twice as much as the dow or the s p. Two big e it tfs that might be in your portfolio are also down. That is the qqq and the xlk Big Technology etfs suffering another day of losses. The xlk has fewer stocks than the qqq and is more heavily weighted to apple. Apple is 11 but still the xlk is down less theres some good news out there. Materials, though, briefly hitting an alltime high its all about fertilizer. Mosaic and cf industries, two fertilizer companies, are doing well today more good news for your money as well the run continues for fedex and 3m they are both at lifetime highs. We are also watching shares of ge today rallying almost 4 right now. Ceo jeff immelt leaving after 16 years in charge. He was speaking out today. Morgan brennan joins us with more on the story here morgan its been a busy day for ge, shares really soaring today. John flannery, who most recently had led ges health care segment, will succeed jeff immelt as ceo starting august 1st and then as chairman in 2018 immelt told investors this summers transition has been in the making since 2013 meaning its not due to shareholder pressure but this casts adramatic run for immelt who took the job days before 9 11, then weathered the financial crisis under him ge has completely changed. Now in 2001 nearly 50 of profit was ge capital today the industrial businesses account for about 90 of earnings now thats thanks to big divestitures including 260 billion of ge capital assets, also spinning off oil and gas to merge with baker hughes. Meantime ge because us a at this points power business, invested in tech, a platt the form analysts believe will soon pay off. Immelt saying today, its a good time for this kind of transition, that ge is a vastly simplified portfolio with many levers for building margins and more market share and flannery outlying plans to improve the company during a Facebook Live event. No ones happy with the stock price right now or some of the cash pictures that weve had we know we can be better at those things i want to focus on those things. Im going to spend do what ive done in the health care business, spend a lot of time early on with investors, with customers, with employees, listen i listening, hearing what people think about the company. Also worth noting contrary to market speculation, ge saying, quote, breakups shouldnt be part of the discussion executives today reaffirming Current Quarter guidance so shares of ge soaring on this up almost 4 but its also worth noting that under immelts tenure the shares are down since 2001 in september. They are down nearly 30 and they have vastly underperfeorme some of their more direct industrial peers it does seem investors are welcoming the news today reading the Analyst Reports it feels like the consensus is he made a lot of Big Decisions to transform this company, to take them through the financial crisis, and make it an industrial giant the question relate d to timing, go big on oil and gas, go big on finance, was it too late were these moves done at the right time, selling off our parent company, those sorts of things theres been some talk about that ive heard it in the Investor Community and among analysts today, for example in light of all of this news theres been a lot of questions about cash flow, which has really been under scrutiny whether the company is going to hit its Earnings Guidance for 2018 not everybody has been looking for. But theres a lot of pieces in play here that have the potential to pay off finally 16 of ges revenues come from oil and gas oil at 45 its going to continue to be a drag for the company morgan, thank you Morgan Brennan as tech rolls over, financials are finding a bid in the last week the s p bank etf up 6 . So is this breakout in financials what everyone was waiting for . Lets bring in the principal at Sander Oneill have a little rotation from it technology into financials is that whats going on, jeff, and do you see this as a lasting move i would like Nothing Better than to tell you financials are break iing out to the up side here i find myself still cautious in the near term. It comes down to your time frame, if you look in the longer term a lot of the things that have kept the market bullish on banks are still in place potentially better gdp growth, rising shortterm Interest Rates, some regulatory tax refor reforms. If you look into 2018, i think you should still be constructive and bullish on banks as you look into the summer a lot of head winds coming from uncertainty. I have trouble seeing that uncertainty be clarified over the next, call it, weeks or months i think financials are kind of appropriately valued here, kind of in a holding pattern. I dont know if it will be time to be jumping in them en masse though to the extent youre looking at them i would stress the universal banks, big banks like citigroup, jpmorgan thats the better place to be right now. You mentioned deregulation as a catalyst because lately it feels like the banks have been slave to whatever is happening in the bond market with the yield curve, and we have seen the ten year stabilize here above 220. Isnt that largely whats going to drive the financials, or do you see it changing . Well, i mean, ideally we see shortterm rates going up which we are seeing and the yield curve steepening were not seeing that. Were seeing shortterm rates go up which makes you look at the more asset sensitive names as the banks that have the potential to outperform. Some of the names like jpmorgan and bank of america that i mentioned earlier play into that i think the flattening of the yield curve is certainly weighed on the banks year to date. That tends to change and change quickly. Forecasting Interest Rates is a tough way to earn a living picking bank stocks. Jeff harte, thank you for weighing in on this mini bank rally weve seen the last few days now back to melissa in miami melissa . All right, thank you very much, sara we are live in miami, a global Idea Exchange focusing on how technology and innovation are disrupt iing industries and speaking of disruptors, number 17 on cnbcs disruptor list the cofounder and ceo of green sky is here on set with us welcome to the show. Youre basically a company that has a 3. 6 billion valuation youre not a lender or a bank be, and yet youre disrupting how lending is done. Can you tell us about what your company does absolutely. Thank you for having me. So we work with 17,000 merchant retailers, enabling them using mobile technology the ability to offer instant promotional credit to now over 1. 2 million customers and we partner with Financial Institutions throughout the United States creating a service that works for all of our constituents. So you have an investor in your company l lets bring it down to the exact example. Im sitting down with a contractor i want to put an addition on my house. I need a loan. And with my phone i can scan my drivers licenslicense, correct thats correct. And you take it from there. We provide the contractor a mobile app that allows them to offer you instant promotional credit theyll scan your drivers l license so you dont have to type in a bunch of information then you confirm that the information on the drivers license is correct youll add in a couple other pieces of data like your s ocia security number. You give us permission to pull credit, a second later well tell you, congratulations, youve been approved and here are your terms and your disclosures, and you can go back to what really matters, which is a transaction commerce fulfilling a dream the average fica score is 760. People dont pay any interest because the first year is 0 apr and whatever low digit afterwards but people usually pay in advance how is it you can do this much quicker than a bank can . Why was there that window of opportunity for you. Sure. In the last ten years everybody has one of these and were a mobile First Company we partner with banks. And banks have always been our partners and were bringing technology and a marketplace to banks, to merchants, to deliver something thats exceptional to the consumer how businesses grow and delight their customers and our focus is use technology to be noninvasive, transparent, and really easy so everybody can focus on what matters to them. In terms of your experience, Household Debt has reached 12. 7 trillion in the most recent quarter. How do you view your market . Are consumers levered up 12. 7 trillion is a lot of debt households are holding on their own Balance Sheets for ttunately income and gdps doing even better. We think were just scratching the surface. Weve done e 8 billion. Are you going to go public . Well see the ceo of green sky brian, back to you melissa, thank you. Well see you in a bit we are joined by the ceo of a tech stock that has handily beaten apple, amazon, facebook, all of them in the last few months and this company they just want to you have fun and play around. Th ierewatntvi coming up next on power lunch. saved money on motorcycle insurance with geico goin up the country. Love mom and dad im takin a nap. Dude, you just woke up im goin up the country, baby dont you wanna go . Im goin up the country, baby dont you wanna go . Geico motorcycle, great rates for great rides. Lets go down to washington, d. C. , labor secretary alex acosta is taking questions at the White House Briefing lets listen in. Skilled workforce is critical to the Building Trades and thats how its worked for a number of years. Ive talked to several ceos. Ivanka trump has spoken to several ceos and theres excitement in the business sector that privateprivate partnership where businesses come together with education to focus on dema demand, the skills business is demanding has worked in other sectors and can work throughout the economy. Yes . The question is where exactly do you see these apprenticeships . Most complaints its for lowpaying jobs and not the Higher Education jobs that you need and it amounts to nothing more than indentured servitude thats factually wrong. If you look at the average starting labor for an apprentice is 6 0,000 a year, higher than a College Graduate i met with some at the ford facility and they love it. They love it let me finish. They love it they are excited about it. And theyre being paid a very good wage. You see apprenticeships in white collar positions as well there are a number of ferirms fr areas like bookkeeping, accounting if you look at law schools, for example, theres been conversations even in it law schools about the need for more experienced based education. The Carnegie Committee came out with a report about the importance of experienced based education in law the point im making we need to stop thinking this is limited to a certain experienced based education works throughout all sectors of the economy just a quick followup. One followup is your program geared towards the white collared jobs . Our program is geared to all industries and all jobs. The point here is to foster privatepr privateprivate partnerships between educational institutions so when students go to a Community College or are looking at apprenticeship programs in the Building Trades or fouryear institutions, when they leave they have the skills necessary to enter the workforce in the middle, yes, sir . Yeah, in the president s budget talks about work requirements, also congress is talking about some new welfare reform for ablebodied people. Could this integrate into that at all certainly one of the important aspects of this is the portability of credentials when someone learns a skill, its important to signal to other employers that this person knows a certain set of skills. The emphasis is on high quality apprenticeships because its important to not water things down, to have skills that are indicative of quality. Yes, maam the overall focus on workforce development, the president s budget contains about 40 cut in all Workforce Skills programs from the last budget if its a priority why is the president calling for that and then, secondly, my understanding is the budget has about 90 million for apprenticeship programs which is also what president obama had requested. How is this expanding what the last administration wanted let me circle back to the point i made about privateprivate partnerships and what the Building Trades do. The Building Trades invest a billion dollars a year of private money to develop a skilled workforce. And so i want to challenge the assumption the only way to move policy is to increase Government Spending were trying to measure outcomes so private to private partnerships, if industry is willing to work with labor to foster these programs thats exactly isnt that what we want to see . We should measure on outcomes and not on spending. Yes, maam i was calling right in front of you and then ill follow up with you. How do you foster these privateprivate relationships . Is there some executive action that will be taken is there a tax policy proposal how exactly are you proposing this would happen . I guess organically happen beyond what already exists i will answer in two parts. First, youve already seen that to a large extent as weve had roundtables with business leaders, as ivanka trump has conducted several meetings with ceos around the country here at the white house. And the second part to your answer is stay tuned and listen to the wednesday announcement. Yes, maam is there a certain region or group of people youre trying to focus in on with these apprenticeships especially since even as the president is saying the Unemployment Rate is doing well under his rate going well under his administration, theres still groups of people be it by region, race or gender still has issues when it comes to employment is there a focus on certain groups, regions and gender so, man you are correct the unemployment right i believe is 3. 4 . The broader rate i believe now at 8. 4 . As weve had discussions with ceo z that are looking at these apprenticeship programs, one of the items of discussion is a way to work with communities that you typically dont see going into the stem fields and other fields part of that discussion has been how do you target those groups, how do you reach out its interesting, because apresenterships himself here, they bring student together in a cofort model with individuals who are currently working in their field. It allows the possibility of role modeling. An apresence tis can have a role model that can private support and introduce them to the field. So i actually think this is going to be a great thing for expending opportunities for example to women and stem. One point to point out. With that youre saying women stem you know that theres still, boil down to race, the offend and hispanic employment number particularly in stem, is this administration looking to push also apprenticeships for those communities as well for the private private partnership . Were looking to push apprenticeship across the board, all people all entities, this is an opportunity for everyone. Sir, red tie thank you sir youre mentions youre targeting all sorts of professions how do you get around in many states there are laws that would prevent this sort of thing, such as in the Legal Profession where most states i believe dont allow people to do things like read for bar anymore how do you get around regulations and same laws . Let me circle back and clarify, the question was is it targeted to blue collar, and i said no its across the board. I gave an example where experiencedbase the example for apprenticeship is not for law. The question about state barriers, i really think is a nonissue because for the vast majority of apresent tisship is going to be youve been listening to the press secretary acosta outlining the apprenticeship for around the country. Go to cnbc. Com to hear more where it will be live streaming. In the meantime, anyone who is anyone in the gaming of longs is in los angeles for the e3 conference julia there live hey, thanks so much brian im here at ea play with Electronic Arts andrew wilson. Thank for joining us what are the announcements youve been making here that will continue to drive your growth weve had a great weekend so far. Weave preloaded the weeks, e3 staffs on wednesday. We started with a fair event in hollywood. We started out announced madden had a story. We talked about new modes and if i fa, we announced great stuff coming from battlefield more than 23 Million People playing in that community. Star wars battle front 2 was probably the big thing in outshow. Everyone has star wars fever, that thing keeps going we teased a little in a game called anthem. We did a sevenminute play yesterday and internet is blowing up about it. Were pretty excited so your stock and the companys benefit a lot from the shift away from selling a game from the digital avenue, what are you doing to your new games to tap into that shift to digital . The shift to Digital First started with having to buy again, all about downloading again versus going to a Retail Outlet the thing thats driving or business is engagement, that means live services. This is not about selling one piece of dnc, its being putting a program together that gives people a reason to keep coming back and playing in ultimate team for if i fa and madd madd madden that means weekly around events for football, and star wars were going to give the content of the to play for free but let them engage in a live service that brings the community together, keeps them together and charges them . Well, they can invest time or money. Its up to them. What weve seen in our other businesses is that when people play a game for two and three years at a time theyre willing to pay extra to sustain and enhance that experience. Its tremendous value for them and keeps them and their friendsing to. Were starting to hear the noises fill up how important is e sports to eas future . Really, its a really big part its not the only vector of growth for our future theres many vectors of growth. Whether you think about core motivation that drive human behavior, social interactive and competition it is most powerful. Theyre the two motivations that sit in middle of e sports. Bringing friends and rivals together to compete in their favorites games. Were announcing ongoing games with if i fa, madden and were also asked for one of the biggest e sports announcement this show was bringing e sports to battlefield 20 million players, new maps, a whole east coast opponent to that gain. Certainly a very hot space there. Unfortunately were out of time, andrew thank you for joining us let you get back to your ea play experience here. Brian back over to you on deck, is your cell phone bill going to go even higher in the months or years aheall ved. Weha a dialogue with the man who probably knows coming up excuse me, doctor. The genomic data came in. Thank you. You can do that kind of analysis . Yeah, watson. I can quickly analyze millions of clinical and scientific reports to help you tailor Treatment Options for the patients genomic profile. You can do that . Even way out here . Yes. Even way out here. Approaching medicare eligibility . Even way out here . You may think you can put off checking out your Medicare Options until youre sixtyfive, but now is a good time to get the ball rolling. Keep in mind, medicare only covers about eighty percent of part b medical costs. The rest is up to you. 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These are the only Medicare Supplement insurance plans endorsed by aarp, an Organization Serving the needs of people 50 and over for generations. Plus, nine out of ten plan members surveyed say they would recommend their plan to a friend. Remember, medicare doesnt cover everything. The rest is up to you. Call now, request your free decision guide and start gathering the information you need to help you keep rolling with confidence. Go long™. Im sara eisen heres whats on the men knew. Investors continuing to bail out of the tech names. Tech gets trashed today, both calls on Amazon Amazon who made that bullish call lays out his case a shake up at ge, the second hour of power lunch starts now. Lets get a check on your money for monday because fridays tech take down is continuing today netflix shares continue to slide, down 5 right now, off 9 in one week. Apple stock also lower losing another 3 today outside of technology largely a different story for ge general leskt rick shares rising after jeff immelt steps down what does ge become . Wheal try to answer that first, melissa in miami. Hey brian, im melissa lee coming live in the emerge conference in miami. The ceo of sprint, an exclusive hell address murder speculation with tmobile. The queen of personal finance, sue se orman joins us brian. All right melissa thank you very much. Despite the recent weakness your next guest says dont you dare sell amazon stock, in fact you should buy more. He raised his price target to 1200 for amazon a share. Lets bring in michael like no doubt youve been working on this for much longer than 48 or 72 hours, are you disheartened by the recent swoon in amazon or does it add to your conviction it as to our conviction it might seem like a less than perfect day to raise or stock amount but its a great day investors can take advantage of the stock. We think of any of the big names that have sold off here, amazon would be the one to focus on and take advantage of this weakness. I wont give you grief, because youre suppose to buy low and sell high. If you raised your target into certain strength i might give you a harder time. When you do your individual checks on amazon business, is there any sign any of their main units are slowing down at all . No. And thats what gives us confidence wed be more concerned if we saw some sort of specific confidence fundamental weakness but were not seeing that. What weve published today was a focus on unit growth we have an annals that goes back 37 quarters. Basically what its suggesting is that the june quarter should be in line to potentially slightly above what street is modeling for were not seeing any fundamental weakness as ive said i think the stocks getting caught up in this broader text so often we think its a great buy opportunity how strong is prime now in your checks . It remains very strong. Our checks didnt focus specifically on that, we think prime now and same however delivery in particular are a huge competitive advantage for amazon Going Forward if you look at the company from traditional retailers and walmart as theyre trying to get more aggressive in the space, we think the fulfillment and inventory they have and all the learning that theyre doing, through existing learning partners and voice buying through alexa is really setting the company apart. Michael, its hard to argue with the evaluation, as brian mentioned before you can call out amazon for making it too hard to justify evaluations. Some are warning about rising competition when it comes to amazon those on the cloud side with microsoft and google trying to get big on the cloud, and with the resir gent and walmart chasing after the business, do either of those concern you . I do think on the awf side there is some indication that microsoft is getting some share. Awf may have a little less in the greenfield than what we thought, by microsoft getting in the space for a public cloud helps to expand the Broader Market and we think the overall adjustable market is bigger for aw s, even though they may lose a couple points or market share for microsoft. On the retail side like i said with walmart, i think the advantage that amazon has is tied to same day, samehour shipping and all the data theyre collecting and its giving them a position where theyre in a escape velocity on the retail side. Michael, youre making a lot of waves today appreciate you coming on thank very much. Looking broader as weve been discussing the lf continue today with many of the tech names under pressure is the sector still a safe bet or is the downside to continue lets bring in Portfolio Manager and brian muller so ill start with you brian, a lot of people were looking for some sort of pull back, these stocks some of the big cap tech names have multiplied and tripled the rate of the overall market this year does it look like a healthy correction or something worrisome . We feel like its a healthy correction the stocks have been very strong this year as well as last year a small cap, when we look at evaluations going into this they were at a premium to the normal evaluations levels in earnings and now theyre getting to a median now were finding stocks that are blow median can you name some names for us one name is nan know metrics that use 3d measuring systems they had a q1 because demand was exceptional. We feel like thats going to get fixed in q2 and q3 we think theres beginning to be a large slum of orders in 2018 from china weve seen this movie before, when china decide to go into led chips they made a large investment and placed some large words with suppliers we think nan know has set up. What about you danny, how is janis looking at this tech sector sell off over the the last two sessions. Two soon to come in and buy names or are you looking at the chip stocks that have been hit harder i think that depends on your time frame, the way we look at this it feels like a healthy correction that brian eluded to. Generally speaking, whether you see a sell off like this, as violent as it was on friday, kind of follow through our monday, you ask yourself is the financials of companies coming into employee or is that leading to the selloff. As we look through the results that have been reported over the last couple of quarters you look at results for other businesses. To your question, some conductor space has been healthy as far as demand profile across the propoint providers as well as equipment space. We added it up and it seems like a favorable back drop. Id highlight as you look out to the 2019 time frame and you think about the growth rates that some of companies have and you look at the multiples to companies such as Consumer Staples and other, theyre still a contract bl price. Were enthusiastic about the process for tech i guess there are a few factors brian, that you have to look at. Theyre set to raise Interest Rates, so well look at the tone of that. When it comes to earnings, where else do you find Earnings Growth for 10 of a sector brian . We feel like theres a small cap where you can find in consistency we like form factor which is in the semicap equipment space. One financi wernl western financial is one of the biggest providers commercial bank piece you can get a stock price thats north of 15 and look at the publicly traded company that gives you a basis for the evaluation all right thanks guys for names and picks today. Good to talk to you both thank you very much sarah heres whats coming up on power hutch in video, once the hottest stock in all the street but now getting heard for the tech tumble. Where does video go from here, were tall become that on trading nation. Where does ge go without jeff immelt, well find out. Back with melissa in miami with whats coming up what is next from spring, what the ceo says about a possible merger are tmobile a lot of wall street analyst say thats off the table, if you want to hear what r cale says in our exclusive next. Welcome back to power lunch were live from miami at the emerge conference, some of the most innovative name until the base i sat down with caurle about the merging with tmobile. One of the iconic turn around has been 2. 5 years, the companys performing in record levels in everything, growth, portability, generating. Were in a great position today. Its our job to all potential options, tmobile is an important one because of the normal levels of synergies but the players are important in saying hey, the Cable Companies have a potential in doing something with us at this time were in a process of waiting. Theres no surprise that the tmobile for American Consumer ive read through a lot of the reports recently, the most recent oneses and there are still some analyst out there who think its still on the table and theres others that think its completely out of the question is this a lot of ink being paced on wall street about the speculation of whether or not this is a possible absolutely. Holders have made it public that he believes the with tmobile has been great tim has made it very public. My except tir john and i have made it public this will be very good today you have two attacking the market, the way we look at this, imagine if you have a super charged maverick going after at t and verizon to stop this there are different possibilities. Like i said before were look at different options as im sure tmobile is looking at different options. Theres no need to jump into something ate this point and time i go back and say itll be a great combination. The other thing you said with the Cable Companies et cetera, does it have to a merger and acquisition scenario in which sprint doesnt go it alone weve bumper going at it alone great. If i go back and say a couple of years it was 5 billion or today it was 10 billion, the spring was earning 4 billion of cash this year we did over 600 million trans actions so were in a good place. When you look at a potential combination this is a scale game today we have half the amount of customers of verizon sla verizo. If you put together these two companies itll be a great merger where sprin will come and n and play the goal will be to make sure the u. S. Is the leader in 5 g and have a company that generates together that allow us to accelerate that thats only my opinion the best scenario for sprint shareholders is for sprint to merge with tmobile . Thats one of them. And also to your question thats one that seems to be underpressed the last few days and whether or not sprint does some sort of merger or deal with tmobile or a Cable Company we focus on that because thats a driver of the stocks this even as the stock is trading as a discount in terms of stock Price Performance to its competitors, verizon and at t mobile where it trades on the mobile base is 6. 15 so its trading on discounts in terms of value metrics as caurle said hes look at a lot of possibility, tmobile is not dead we also talked about 5 g and the upgrades there because theres so much emphasize these days about whether or not the trump will get through an infrastructure he stress 5 g is a priefrt infrastructure plan in and of itself 275 billion will be spent on the deployment on 5 g and that could create as many as 3 million jobs eamon javers is also here with us in miami. You just completed your own interview here yeah. Good to see you in person krchlst i sat down with jeb bush who had a lot of thing to say. He also said he feels we lost the common set of facts in america. The debate that weve had have been so fractured that he wants us to get back to that he praised some of the republicans on the committee he said theyre doing the right thing in setting the right tone for the country by handling that the way that they d heres what he had to say earlier today. If you are defending a person who was from the other party doing it would you have to same attitude and vice versa. Would you defend if it was a democrat doing it and oppose it if it was a republican in a minimum if you have that fist step is have the same view for a person ir respective if they had a d and r in front of their name i think we can restore of the the democracy that have to work. He also talked about the phrase, america first, which donald trump has used to describe his political world view of politics jeb bush says he doesnt like that phrase because of what it means for more than leadership in the world i think its okay for the United States to advance its economic interest in the world and i respect the fact that donald trump has brought this up but if his doctrine emerges, i dont think its clear how its working, to pull back, create walls, to isolate to say were not a leader anymore, korea you fund the missiles that protects us, china you pay for it, all this stuff creates a dangerous world where people are friends no longer, know where were stand, our enemies no longer fear us. He also talked a bit about baseball, hes in the efforts of buying the florida baseball team, he said that effort is on pause because he and derek jetter has not been able to come to terms with the construction of that. Hes only going to buy the florida marlds only. It seems like he was he was. He said he was a credit tick but he says there are aspect of the Trump Administration that hes hoping will succeed and he hopes that every president exceeds he hoped that barack obama succeeded as well. For that was start of a baseline starti starting point and into conversations about cuba, so a lot of get into. Thank you so much brian when we come back youll have sue set orman, the one and only well look forward to that. Melissa and eamon thank you very much coming up back to the market is it set to make another leg up or down. Trading nation tackles that. A look at stocks not turning around, apple and netflix down investors taking a hitn os ithe names. Well talk tech coming up. My business was built with passion. But i keep it growing by making every dollar count. Thats why i have the spark cash card from capital one. With it, i earn unlimited 2 cash back on all of my purchasing. And that unlimited 2 cash back from spark means thousands of dollars each year going back into my business. Which adds fuel to my bottom line. Whats in your wallet . It is time for trading nation. Today lets get a look at some of the sunny conductor stock we look at these names and nvidia otherwise are you concerned are you ready to change some of your recommendations . Well, you know weve been bar rish on a few names this year, i think the evaluation is arrest nome call. I do think within the groups there are activities in particular how low would nvidia have to go for you to say im not going for bearish anymore . My targets 90 youre sticking by that because its a buck 50 stock we are. Its a semicompany thats been valued as a Software Company which its not the best trading in this space is and fuelling that is really i think a lot of hype and hope around Artificial Intelligence all right, so gina sanchez to roomts point, this kind of stands alone, its kind of its own stock inside the space whats your view on semiconductors generally i think semiconductors having seeming a little weak lately you would see stocks like this continuing to expand as you see kind of continued demand and economic activity, however a lot of the outlook for that the positive outlook for the Economic Outlook is getting hindered and that can hinder spots in this space. We are going to leave it there. We proosht your time thank you for more trading nation, we do two additional segments online every day go to tradingnation. Cncb. Com sarah. Thank you for the warning tech is falling, energy is leading the way. The best performing sector today, the closing trade on oil and advice on plain commodities right now. Ge rising after jeff immelt steps aside. What does it mean for the company . Power lunch will be back i just saved a bunch of money on my car insurhuh. With geico. I should take a closer look at geico. Geico can help with way more than car insurance. Boats, homes, motorcycles. Even umbrella coverage. This guys gonna wish he brought his umbrella. Fire at will howd you know the guys name is will . Yeah . Its an expression, ya know . Fire at will . You never heard of that . Oh, there goes will bye, will thats not his name take a closer look at geico. Great savings. And a whole lot more. Hi everybody im sue herrera, heres your cnbc update at this hour President Trump meeting with his entire cabinet for the first time this morning at the white house. He blamed the democrats for delaying the confirmation process. A recordlong delay and confirmation and a confirmation process by the senate democrats, which i called the obstructionist, maybe theyll change but i doubt if they will, this is our first Cabinet Meeting with the entire cabinet present. A powerful kwauk causing damage in the greek islands and western turkey today it shows that heavy damage in the village of viz ra where thousands of refuges migrated fleeing iraq no reporting deaths. The came bridge visits victims and staff, she spoke with doctors and nurses who treated the attack at London Bridge and burr real market. Thats the update at this hour brian back to you. Check out shares at fedex theyre up 1 right now. The Transportation Company saying it is raising its quarterly david end to 50 cent per share, thats 55 increase payable on july 6. This comes a little over a week ahead of fedex reporting its earnings next week, as i mentioned share up 1 . They are trading at alltime highs. Fedex raising dividends to 50 on quarterly basis back over to you we are 30 minutes from closeding bell and companies are selling again. Netflix, amazon, apple and facebook all low in todays trade. Energy and telecom are the best performing crude oil back about 26 a barrel dahm choy at the commodity detectiodesk oil prizes rose around 20 . We got low as 45. 66 as far as high 71. The 46 mark is where were going to settle. There was bullishness around signs. And reports saying that saudi arabia could cut back on oil in places in the u. S. Youre getting a lit of benefit here on the higher crude prices. We have shares of chesapeake energy, trans ocean and others leading. Back over to you if you dont like stocks, if you oil or gold may be the bestplace for your money, listen up, your next guest say we are stuck in a super cycle bear. John over at wells fargo investment we welcome him john, theres a lot of oil bowls out there, those waiting who think that Higher Oil Prices are just around the corner you disagree, how come good afternoon brian. Its all about supply at this point in the cycle if you go back to the last time oil was over 100 a barrel it was july of 2014, production is less than it is today. A lot of people miss that fact were still overproducing, whether its the u. S. Which is the largest producer in the world, or be it opec, theyre still producing. In five years we look at bearish prices if theyve watched this show they cant say they have a note about instructionsky say that. We talk about all these drilled and uncompleted wells. Do you think john, were beginning to get to 10 Million Barrels in the United States which is what weve done twice in two months in 1970 . Right and thats just crude oil. Youre talking about going from roughly 9 million barrel produced of crude oil to 10. Its just massive, its a massive glut that wont go away and it makes perfect sense most producers that produce commodities in the world are countries, they need to revenue, theyre going to keep overproducing. Gold, why you bearish not bearish . Same deal, you look at the price of gold when did it peak 2011 it peaked at 1,900 an ounce. 20 higher today yet prices have been put in half thats what happened to commodities at this point in the cycle. South africa produced the most am of gold than any other country there and theyre overproducing. Australia overproducing, canada overproducing. Thats Pretty Amazing well leave it there the last time we were over 100 bucks a barrel for oil we were producing less than we are today. Thank you buddy. To john harwood with a news letter from washington john it appears the wall street journal may have scooped President Trump and the white house on their promised announcements about whether there are tape recordings of the president and james comey. Wall street has posted a story saying in response to an information request, the secret service told them there are no audio recordings of the meetings in question. Thats not a definive answer to the question, if President Trump himself had some sort of device separate from the secret service thats questionable. He hasnt spoken to that sean spicer in a briefing a moment ago declined to answer the question we have the heard from the secret service which in the past has in stalled recording systems for the preponderates, they do not possess any recordings of that meeting interesting step heading thwart Jeff Sessions testimony tomorrow when did do we find out if he did tape them . Thats what well wait to see. Lordy i hope there are tapes, james comey last week. John thank you john harwood with an update there. Turning back to the big corporate story today, jeff immelt stepping down as ceo of General Electric of 16 years in charge jp morgans jaime diamond saying jeff has transformed ge over the year of times. And Goldman Sachs of ceo tweeting quote, congrats to jeff immelt to leading ge through 9 11 and the slow moving economy. Did you see the tweet last friday i think there was on the infrastructure week. How did infrastructure week go i met lloyd a few times, he meant what he said it was seminarky a little. Our next guest said ge was right for a change in leadership jim stuart, a klum mist with the new york times. Were you looking specifically at the stock surprise here on something bigger about immelts leadership look it was never going to be easy to take the reigns from jack welsh it wouldnt easy. The real story is that he didnt transform it enough. He was backing away from the jack welsh play book but he had a lot of other issues to contend with after 16 years i think nefrts have said, look you havent done it fast enough this is one of the last nails in the coffin of the Old Industrial conglomerate jeff immelt has always said as long as we got the leading share and we can apply the ge management risk and ring more profits and synergies out of these plains than anybody else as i said they still have a major lines of business, this is not good which is why jim, some are still wondering whether a break up is in story for a company that seems to be played down a bit today. Stock is reacting well though. What do you think is in store and what do you know about john flannerry . I think investors are looking for which could mean slimming it down. I was looking back today where theyre growth is, that i have got some good performance in the power, the renewable energy, the aviation segments where they have great brands and mark shares, they are growing profitability, oil and gas has been a disaster, partly not because of their on making but they sort of doubled down on that as prices were dropping and still waiting to see what happens with the baker hughs deal they were clearly playing with a very weak hand there and then they have theyre other businesses not growing look at the Health Services where the new ceo has been leading and doing quite a nice job. Theyre not competing effectively there, the margins are not high and heir not showing growth there also on the media size, they use to own us, congress bought out stake at ge. If you we if immelt look back at ge tenure can you point to one trans action that might stand out the most good or bad the biggest one was getting out of Financial Services. That was always the one where when jack welsh needed an extra boost you can count on Financial Services when financial crisis hit, we learned ge was no better and maybe worse at analyzing risk which was so important in the finance business than every other bank that got sucked into it it was a big step for immelt to bite the bullet and say were going to get out of this business and he did it in an orderly way. Youre never going down in the record books or writing the best selling memorial about how i dwesed the flounder being Investment Business of ge conglomerate i have to say, he had a lot of issues to deal being starting with financial crises, september 11 then the criminal case crisis in the oil and gas level. They Want Companies that know what theyre doing, they have expertise, have competitive edges and can show Profit Growth in the areas they do well and i think ge needs to focus on that principle. Jim, thank you for weighing in jim stewart of the new york times. Melissa. Thank you very much sarah another big interview conference in miami look who i found here, the one and only suze orman, shell be here to tell us how to position tnk portfolio, how tohi about investigating. All that straight ahead on power lunch. burke at farmers, weve seen almost everything, so we know how to cover almost anything. Even a coupe soup. [woman] so beautiful. [man] beautiful just like you. [woman] oh, why thank you. [burke] and we covered it, november sixth, twothousandnine. Talk to farmers. We know a thing or two because weve seen a thing or two. We are farmers. Bumpadum, bumbumbumbum welcome back to power lunch were live in miami at the emerge conference with the one and only personal finance expert, queen of personal finance, suze orman, also friends of cnbc. Gate to see you again. In that am of time that weave talked what have you found in the am of burning questions people have. Were in a period where we have new administration, stock markets at record highs what questions do you get it depends on who youre talking to if youre talking to people with money and theyre compassionatic and ask this is the best time to go if youre talking to my people that have Credit Card Debt and no money, they feel lost than ever they feel like theyve miss it had stock market, they feel like they dont have money to invest in the stock market even if theyre in the stock market with their 401 plans dont know what they invest in not much as changed. Were here at the stock markets where you can get ahold of your stock markets and invest more officially. If they have money, if they have money in the stock money already. Of course theyre its easy now, now they can check it now they get alerts now they get this think about america, think about how many people dont even have 1,000 in savings melissa. So americas a big place and not everybody has money. But those who do its far easier for them to check on it, that doesnt mean its fair easier for them to know what they she shall down with it correctly whats that one piece of advise to your people who feel like theyve missed out on thing . What goes up has to come down, it always does is it here, is it another thousand points who knows. If you have 50 a month that you can dollar cost average into a low mutual funds that took small minimums or etf where they dont charge commissions, just 50 a month, 100 a month no matter what the stock markets are done over time theyll be find. All the stocks people buy add up stop spending money you dont have to impress people you dont even know or like. Stop leasing cars, stop eating out and doing the things thats waisting your money. Are you surprise that technology hasnt helped people become educated about personal finance . Yeah, i have to tell you i am i have my own course, we have over 300,000 people using it and today ill give it as a gift to everybody. All they have to do is go to suze. Com and go to merge and do that for free. Theyre still arent there isnt the desire rather than 300,000 student i should have 3 million student. They dont have the desire and still not hungry for it. They dont see it. In terms of people looking for education are you finding more younger or older people im finding its more older people the young ones they want a little house, they dont want anything its like all they want to do is be out there and work and go to the next job and make money and spend money. They dont have goals yet they dont have goals but they should have have goals, because if you dont have a goal when your 25 and 20 and parting money away now youre not going to reach that goal wen your 65 its sad out there no matter how good the stock market is doesnt mean its good out there the one piece of advice for young people out there who are spending their money on avocado toast and no goals what would you say to them . Get as much pleasure as you do as spending try to set sell one goal over 100 a month into a roth ra goal it could turn out to be 1 million brian back to you melissa you are a avocado toast aniche nad doe ive never bought avocado toast. Im a saver. The big name, tech stocks getting hurt again today is it time to bail out or buy . Big question hopefully answers coming u im here at the Td Ameritrade trader offices. Steve, other than making me move stuff, what are you working on . Let me show you. Okay. Our thinkorswim Trading Platform aggregates all the options data you need in one place and lets you visualize that information for any options series. Okay, cool. Hang on a second. You can even see the anticipated range of a stock expecting earnings. Impressive. Whats up, tim. See options data like never before. With thinkorswim only at Td Ameritrade. We are watching Technology Stocks again today with the sector down 4 since friday. Our next guest says its a test, and the founder and manager partner at luke ventures leek the stocks, amazon, apple, google, but not ready to tell investors to buy at the lower levels no. We would sit tight the next couple months, and looking at the performance relative to the tech, tech is up or at least faang, double a, faang, up year to date, so theres room for a pullback taking a month or two to fully go back being an analyst through the dotcom and 2008, this is different. You mentioned names we like, add tesla to the group, but theres reason for optimism in the stories longer term. So, gene, what do you hear when you talk to investors as to the reason why a lot of people are blaming the goldman saks letter friday, just about a federal government taking whats driving the move from technology i just think that outperformance is so remarkable in this broader tech over the last few months that when you start to see a break and start to realize that technically these stocks could come down another 1015 , i think it just gets investors worried i spoke friday afternoon to investors and again this morning, and that was the general sense. There was not anything fundamental, but the stocks needed a breather. Isnt it, gene, healthy, though i dont want to, you know, throw water on the coverage, but, you know, because its a big deal, but at the same time, when stocks go up every day, thats when i get nervous it is healthy thats exactly i i talked to a trader on friday. That was the message that this is a healthy pullback, and so thats exactly right i think it takes once pullbacks happen, investors can breathe easily and say that, yes, weve had this natural pullback. So your advice to Investors Holding the stocks and continue to do so is stay calm, and those who want in, wait, what, weeks here few more points down yeah. Id say a month, maybe two months i think stories like apple and tesla, amazon, wellpositioned, and paypal and netflix are not wellpositioned longer term. I think theres differentiation of which companies properly ride the next wave. Why not netflix thats been a darling. Why are you negative on that one . I think in the near term, once apple turns on or amazon on apple tv, youre going to start to see more people who, especially in the u. S. , who have these netflix subscriptions turning off. They get it free through the prime membership, and i think thats a near term negative to the story. Is the netflix, though, line up the bloodlines of the world, orange is the new black of the world, compelling enough to keep people from doing what you just said i think that on the margin people start to drop off, and, ultima ultimately, comes down to the content they create. Jeff said content is the fourth an upcoming of the amazon stool. We cant see that necessarily today, when we compare content of netflix and amazon, i think if you fast forward years from now, youll see better content from amazon, and apple have planet of the apps launched, and they are making more original contempt its going to be more crowded, a negative for Netflix Netflix earlier in the session reached correction territory, technically 10 from the highs. Well continue to watch. Gene, thank you from Loup Ventures last record set was june 8th record high and sharp direction lower. All right check, please, is next i love how usaa gives me the peace of mind and the security just like the marines did. At one point, i did change to a Different Company with car insurance, and i was not happy with the customer service. We have switched back over and we feel like were back home now. The process through usaa is so effortless, that you feel like youre a part of the family. 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I wanted to go back to the advice suzi said, have as much pleasure in saving as spending bring your lunch and coffee. I do every day think about the long term. Thats very important. Make your toast at home got it i see what she brings to lunch every day. Its a weird tuper ware filled with stuff its salad. Its called a salad, brian i dont know what that means. Its not weird. A language i dont understand my check, please, guys, is activist angle on ge investors wanted change at the top of the Company Stock up 4 . Now the question is, will they move on pg no comment yet, but this is the big position Everyone Wants to see whats in store. Now they can focus on it fully id be watching. Bad behavior in Silicon Valley uber sarah, thank you for joining us today. Thank you melissa, have fun in miami. Thanks, see you tomorrow. Closing bell starts right now. Thats been in my head all afternoon. The wedding is over wedding is over love love love pit bull is coming up on the show welcome to closing bell everyone, im kelly evans at the new york stock exchange. We have an interview with mr. Worldwide at the end of the show welcome back. Markets interesting on the way ba