Its weird but the closing high for the s p this year, the year 2016 is, in fact, 2016. 201671 which is about a point away as we see the index. Stocks near session highs and maybe not surprising. He established himself in the tech start up when he cofounded paypal in the late 90s. Since then another of other start ups and he was a chairman of yelp and now hes in austin as south by southwest gets underway. He joins us now. Max always great to have you. Thank you lets start off talking about the environment for investment for Early Stage Companies. Youre an investor on top of being an entrepreneur yourself. Where are you putting your money these days whether its Early Stage Companies that are focused on enterprise problems, whether its consumer mobile requesteds, all of the above, are you actively investing in this environment . I try to look at big ideas that have bigger impact worldwide and the trend has been increasing people trying to solve really big problems. Its an exciting time to be an investor. The most recent adjustment in the Public Markets went all the way through and deals have come out that are cheaper. So in that tense its time to sharpen the pencils. I want to ask you about the recent support youre giving to the president s plan on immigration that involves keeping undocumented immigrants here with possibilities for work. Donald trumps campaign, the gop side has been very much focused against this idea. Why do you think this is right and does technology does the Tech Industry have a particular interest in seeing this go forward . After trying to solve the immigration problem wholesale lets take the thing that have the authority to control and solve this issue. Its the right thing to do. Its fairly easy to agree with it and support it which is what i did but its simply smart to try to solve a part thats solvable. They are a primary way that tech has engaged with the immigration issue. Talk about more highly skilled immigrants. The president s action dealt more with undocumented workers. Of course many of those workers in silicon valley. An important part of the eco system there but why in particular weigh in on that issue a lot of people would disagree with you. I think im most fundamentally supporting the idea that you take a piece of the problem and solve it through direct action. I think the social aspect of it are important to me. Im an immigrant so i can relate to a variety of the situations very directly outside of my involvement with tech. Fundamentally social justice are alive and well and people stand behind the president with this particular issue. Max i want to turn to your support for another issue and that is the apple versus fbi fight. You first supported the government stance and thought apple should unlock the phone. Now youre supporting the company. The government though says the effort would only take six employees. It would only take two weeks. It wouldnt be burdensome at all and are there any facts in the case that would lead you to continually change your mind or shift where youre coming from . First of all if you trust federal government assessment and prediction of software deadlines this is just one thing that im not sure that i can subscribe to but i they the issue the reason i changed my mind is simple. Im a parent. Im a patriot. It will make the country safer and i think thats what everybody feels in this case. Im not alone but the bigger issue at hand and the precedent setting that i initially didnt really understand as deeply as i do now is pair mount and the debate around whether we have a law on our books that says a company can be compelled to modify software to open up previously pronounced secure systems theres no precedent for it. Bringing that into the public spotlight, talking to the people about it, having a debate in congress is the right thing to do and its more important than this one particular issue so i had to change my mind and speak about it and i think that im probably not going to change my mind again on it. One last question. You mentioned before that the recent action in the Public Markets caused valuations for start ups to go down. There were bargains for you. The nasdaq just exited correction territory. I wonder if you think thats good given that arguably some of the valuations in Public Companies needed to come down. Have we come too far too fast back to the Positive Side . Great thing about the market is it is impossible to predict. Im a listener off the market. Ill not a predictor. Ultimately stocks have a prediction to go up. The correction was a good jolt or wake up call to a lot of people that felt invincible and thats fine. A lot of companies have been penalized too much. Theyre undervalued perhaps but i ultimately watch the market and not try to predict it. Coming up one of the stars of house of cards joins us right here at post 9. Well talk to Michael Kelly. Plus another check on the markets still in rally mode. The dow is up 206 points. The nasdaq up 1. 3 . The s p up just about as much and of course the next thing to watch in todays market is the close in europe. Well bring that to you when we come right back. I moved to boston when i was two. There was 14 of us in a four bedroom apartment in the projects in boston. To be the first, actually, kid to buy a house in my family. I just realized that, im the first kid to buy a house. Its a very proud moment. Whatever home means to you, well help you find it. Zillow. For your retirement, you want to celebrate the little things, because theyre big to you. And that is why you invest. The best returns arent just measured in dollars. Td ameritrade®. A few days ago you said traders are in awe of the relentless strength in crude and that was a few days ago. What do you make of it now . They benefitted greatly from the iea statement that we may have bottomed a little bit of a battle there. Goldman came out with a thing that they thought you want to be a little careful. They want out on this one and theres some Short Covering going on. The rally in the general market is very broad. Volumes a little bit light however. They spent most of the morning churning through the resistance band at 2010 to 2015. So now the next level is up above 2020. And well see where we go but if crude keeps moving like this, it will keep a stronged bid right under the market. Does the experience with draghi make traders think theyll get something approaching that from the boj and the fed next week . The feeling on the floor is that the fed obviously is not going to raise rates and surprise anybody but theyll probably try to push forward around the hawkish sounding statement so that they could at least put june on the table and i certainly believe that Stanley Fisher wants to get Something Like that done. Is there Something Else right now that we have to worry about thats going to influence the overall markets direction . Were waiting for oil to stabilize. It looks like maybe its doing that. Before that it was china. Were not talking about that as much anymore. Is there Something Else that might pop up and assert itself and take us off of the fundamentals again . Theres always the find of fwr geo political risk. Now next week we have the bank of japan. That might be a little bit of a surprise in that they have not been getting the reactions that they wanted. Well also have the bank of england and in china the National Conference will adjourn on tuesday. So i think that we may hear from chinese leadership so that could bring the surprise right back again. B of a has a note out today looking at flows and it signals a sale signal and the election is getting a lot more interesting. Brexit continues to heat up. All the external factors over the course of the next few weeks and months. Over this weekend theres three buy elections in germany and well get to see whether the migrant story is not playing well and whether merkel begins to see some of her power wane. That would not be a good thing. The market looks for her as a sign of stability. So at this point, important levels to watch as you mentioned having blown through some initial resistance today. I would say 2021 to 2025 would be the next and theres kind of an air pocket on the down side. Give it a chance to consolidate here and work its way through. 10 a month. Thats a move. Pretty impressive. Did they go too low or did they come back too high . Its a little bit of both. Clearly theyre subject to an overtrade. They the markets in those tend to be some what thinner than normal. So a small amount of buying can have a disproportionate effect or selling on the same note. So if youre going to play in that ballpark be prepared for volatility. Get prepared to get hit by the ball. Right. All of this nice weather you need more ice cubes. Ice cubes wont have a chance this weekend. Lets get the close in europe which is going to happen in about 60 seconds simon. Here we go. Check out the data. This is more like it. This is the refrx the ecb yesterday. Germany is up 3. 5 . It saly is up almost 5 . A very strange reaction on financial markets. People sold into the bank rally. Lets look at where we traded. The white line is the broad stock market in europe. The pink line is the banks index. Up almost 3 today. It did the same yesterday of course and then got swept up in that selling but now they have been able to reposition and i think whats really encouraging on todays session is not just the banks that are volatile but the big ensurers coming through with solid gains here. Theres two main watersheds in what the ecb announced yesterday. One theyre going to buy Corporate Bonds for the first time. So i dont know, are they going to buy apples bonds or ibms bonds issued in the euro zone . Maybe were still to find that out. The cost of ensuring Corporate Bonds there, Investment Grade high yield has plunged over yesterdays session and today in europe thats good for the ensurers and secondly they signalled that theyre at the bottom of the negative Interest Rates. Negative Interest Rates are a nightmare if youre trying to run pension schemes. Thats why you have seen big insurers today. Theyre offering Balance Sheet resolution. In this country it came from the federal government. There its coming from the central bank. Take as much money as you like. Up to a third of your loan book for free so you can repay the bonds that are maturing. Look at these guys jump today and then the italian banks that we know have the liquidity problems. The ecb is saying more than that. Its saying if you take my free cash and lend it out into the economy, i will pay you 40 basis points as a bonus each year. Thats the effect of the negative interest rate. So you see the italian banks, look up 10 and then the Spanish Banks have also followed through very strongly on todays session. These are your big ones. Just want to come back on what art was mentioning, this weekend we do have on sunday three Regional Elections on sunday. This was merkel campaigning yesterday. Its a very important decision time for merkel. 12 Million People will vote after she allowed a Million Immigrants into germany as part of her immigration policy. So are people going to support merkel . Or does she face problems at the local level and therefore in advance of elections next year . Bear one thing in mind. Europe is different from this country. Ruling parties ditch their leaders if they think theyre going to lose the next election and therefore your own party can have you fall in germany or it may happen in the united kingdom. Guys back to you. Thank you very much. When we come back, Michael Kelly will weigh in on the impact of streaming on the tv business when she joins us right here at post 9 in a moment. Some leaving the port on foot while others went to the Passenger Terminals where more than 3,000 people are currently being housed. An arrest has been made following a high speed chase through chicagos south suburbs. A man driving a stolen vehicle racing upwards of 90 Miles Per Hour on the open road before losing control as he tried to drive think a field. You can see he jumped out and started to run but he was apprehended. Chickfila joined the cage free egg movement. It will begin using the eggs over the next ten years and serve only cage free eggs by the year 2027. And he is suing 3m in a dispute over who invented the post it note. Hes asking a florida judge to stop the recognition from the company. That is the cnbc news update this hour. Well keep you posted. No pun intended on that one. Ben carson endorsing him this morning. John harwood watched that at hq. Donald trump was trying to project the air of a candidate that has locked up his partys nomination. He accepted the endorsement of his former rival ben carson and he said he wanted last nights tame and civil Republican Debate to be the last one of the primary system. We had enough debates. How many times do you have to give the same answer to the same question . Do you agree with that . The same question. Same people, same everything. I think, you know, it would be nice to finish off with this one. The question remaining is can anyone start stop in the primaries coming up on tuesday. Lets take a look at these polling averages from real clear politics. First of all, north carolina, a good shot for ted cruz. He is behind significantly of donald trump. Then you take a look at the state of florida where marco rubio is hoping to stop donald trump in his home state. He is behind by a double digit margin and then finally take a look at ohio. Like in a florida, a winner take allstate. A big chunk of delegates john kasich is trying to deny donald trump. If donald trump can run the table in these three states the nomination fight is over. If he can run the table in two out of the three even if he loses ohio he might also have locked up this nomination and interestingly just a few moments ago marco rubios Communications Director was on television saying if you want to stop donald trump in ohio, dont vote for my guy marco rubio, vote for john kasich. Thats how desperate it has gotten for the rivals of donald trump. John, thank you very much. We turn to the fake politics and the big business of house of cards. If you binged your way through the new season you might be tempted to draw parallels between the fictional drama and real life race to the white house. We caught up with Michael Kelly who plays president underwoods top aid. He talked about streaming, technology, content creation and getting into character. Theres a lot of things that went into it. I had a pretty good Political Science background. Thats what i studied in college and i got to know more as we were working obviously. Im always asking what does that mean every now and then but it just comes from a combination of all of those things i think, you know . Stamper of course had a big narrative arc last season and he is not going to give anything away but is this season easier to play as a result . Yeah. Last year i think was the hardest i have never been so frightened in my life to take a role on because you had a character that i played one way in a very specific way for two seasons and then flipped it on its head for that third season. It was really tough to take on but the great thing about season 3 is, you know, at the end, that recovery arc. Him get back to where he belongs by francis side and then at the end of season 3 you can just imagine season 4 its going to be good again. Are they going to get i dont mean the show is going to get good. Its been awesome all along but what they do together frank and doug. I love your perspective on how the landscape has changed for you as an actor. You have done it all. You have done tv. Movies, miniseries youre working on now. This netflix thing is unique and the way it place on the public consciousness is unique. You have to worry about spoilers from a season or so back because you never know when people are going to watch it. How is that influence your relationship with your fans and how is it influence the kind of work that you get now . Kind of post house of cards . Well, it doesnt influence the work itself. Youre always going to do your work for the good of that specific job with the fans. Its been a bit tricky, you know . I dont want to spoil anything for you but at the end of season 2 some big event happens with my character and the beginning of 3 its an even bigger event that happens and throughout the course of season 3 that were filming for me to have to lie to peoples face and season 3 comes out and that secret is revealed it had been months after and my brotherinlaw has this app thats a polling app so he had a poll up is doug live or dead and i retweeted. The show had been out for four months at that point and fans went crazy. Even the actors are going to blow it for you now. They got really upset about it. I have seen the end of season 2. Well, im alive. I figured that out, yes. But, yeah, its tricky. Its very tricky with the fans with bingeing but after speaking with the netflix executives its how people today want to consume. They want to consume it whenever they want. Everything, you know, with kids tod today. Myself included. We all carrie computers with us in our hand a little tiny computer and we want it all right now. You have a question, you got an answer. Its how consuming the product is the same way. Shares of netflix down about 15 so far this year. But a lot of bulls will hope that subs continue to Gain Momentum state side because of shows like this. The influence that netflix and its way of releasing content has had on the culture is having on the media giants right now. As we see the talk about over the top intensify its just fascinating. Yeah. One of the great business stories of our time. We can all agree on that. For sure. Coming up, a rally on wall street with the dow up about 210 points. Rick, what are you watching . Well, today were watching all the charts as you see my camera man trying to find me. Yesterday was game day. Yesterday was Mario Draghis big day. But today, is something different. And the big number, by the way, 11005. What is it . After the break. Theres a lot of places you never want to see 7. 95. [ beep ] but youll be glad to see it here. Fidelity where smarter investors will always be. If only the signs were as obvious when you trade. Fidelitys active trader pro can help you find smarter entry and exit points and can help protect your potential profits. Fidelity where smarter investors will always be. What a difference a day makes for stocks following the ecb meeting and what happens now. Plus adam jonas with a two step upgrade for one company in his parking lot. We speak to him live and why Jerry Seinfeld is saying see you to millions of dollars worth of porsches. Well see you in about 15. Lets get to the cme group and get the santelli exchange. When i was a trader there used to be some etiquette. Ill give you an example. Lets say all of us smaller locals, people trying to bid an offer take out the spread between the bid and offer. Lets say were all offering small quantities. And then all of a sudden somebody emerges and they go bye them all and they turn the market bid. See when you turn the market, etiquette is youre supposed to be able to buy everybody that was offering. It really never quite turned out that way. You get the idea. Who turned the markets should get the trades. Now lets go back to yesterday. Theres been a lot of discussion as to what happened yesterday and ill give you my rendition. Do you know what market turned the market yesterday . Without a doubt, hands down, it was the euro. Lets look at the facts. Last week my big number by the way was 11005. Thats where i pegged last fridays euro versus dollar close. Where is it now . Within grabbing distance of 112. In the 11180s. Its higher. Theres been a lot of volatility but especially if you look at the range. It isnt about the dollar weakness that made everybody the way it was. Theres he wall number of buyers and sellers but the emotion of the turn in the market and the euro strain. That emotion, whether it was Short Covering or euro position doesnt matter. Why is this important . We get a glimpse on big days like yesterday, game day yesterday, mario draghi, super marios game day of whats important and how traders react. Many clues in there but today it is different. Today isnt game day. Today is gaming the game day and thats what traders do. Theres nothing wrong with it. Today is about making money. Interpreting wrong and how the strategy of when refs become players and thats what is going on. Can you imagine watching your favorite boston game or chicago cub game, bulls game, hockey game, you know . Refs, umpires, we like them. Theyre supposed to keep the game moving along and enforce the rules. How would you like it if all the players were benched and it was the refs and the umps playing. Thats what is going on and i dont know if its such a good thing and if we want to stay on the topic, imagine that Football Game you like to watch, imagine the camera only on the scoreboard and thats all you get to see. Thats now the trading world we live in. John, carl, back to you. Thanks, rick. Up next, spending in Virtual Reality just topped a billion dollars and revenue in the area is supposed to soar. Quite a bit by the end of the decade. Well talk to a top vr company thats working with google and Paul Mccartney in just a moment. Out on the town or in for the night, at t helps keep everyone connected. Right now at at t, buy the new Samsung Galaxy s7 and get one free. No matter how you hang out, share every minute of it. Buy one water resistant Samsung Galaxy s7 and get one free. And right now, get up to 650 in credits per line to help you switch to at t. When youre on hold, your business is on hold. Thats why comcast business doesnt leave you there. When you call, a Small Business expert will answer you in about 30 seconds. No annoying hold music. Just a real person, real fast. Whenever you need them. Great, thats what i said. So your business can get back to business. Sounds like my rides ready. Dont get stuck on hold. Reach an expert fast. Comcast business. Built for business. The first two months of this year alone have seen 1. 1 million. Our next guest created vr content with Paul Mccartney and more. What can we expect for the space Going Forward . Joining us here at post 9, the ceo and founder and its great to see you again. Yeah, thank you verying if me. We talk about where the Tipping Point is for Virtual Reality. Its clear theres a lot of money going there. Its clear all the Big Companies are work on it. When is the Tipping Point . I think this year could be the Tipping Point. 2016 is going to be huge. Oculus is going to be releasing their head set this month. Sony is releasing playstation vr. So this is the year that sort of the mainstream consumer is going to become aware of vr. There seems to be a chicken and leg issue with Virtual Reality because Consumers Want to know everything they want is on the device before they go out and spend the money to buy it but they need to consumers to buy it before they need the content. The device without content isnt useful. Were busy filling that hole. Were working hard with our partners to make sure that when people get their first device theres a lot of what we call content there. Theres going to be gaming content but a different type of content which is video vr content and were working with our partners like disney to provide. What do you think is going to be the main driving type cough content . And is it going to be easy enough for the mainstream to actually get that content loaded for their head set . I mean its kind of a complicated process to kind of boot up the pc, launch the program, know how to get the head set working or even if youre on playstation playing a game, how do you play video. Those will be used by the Sony Playstation vr and oculus drift and so on. These are head sets tethered but you also have immediate kwa content. That also plays on mobile so that literally plays on your smartphone with Something Like a Google Cardboard head set that can either be literally made of cardboard but also they have nice plastic versions and samsung has having called the gear vr that also uses a smartphone so the fact that cinematic vr plays on smartphones is very powerful because theres 2 billion of them out there and thats available today. People can download apps today an enjoy that type of content. A lot of discussion about a lot of discussion about what it means for marketers. If youre a car company its easy to imagine how you would market a car. But were not used to seeing ads that sell goods like that. Talk about some of the challenges that theyll face. Thats actually a challenge in general for content creation. Vr is a new medium. Instead of having a 16 by 9 screen you need to figure out how to communicate with a viewer and audience and be look in any direction of 360 degrees so the marketers as well as the film makers, sports leagues, et cetera, need to figure out the best way of drawing peoples attention to where they want them to look. So its generally a challenge. You guys are in the business of creating original content for people to watch you partner with the National Hockey league and north face just to name a few but is there a master class for people to learn how to make the type of content that you want to sell and you want to put out there . This is all so new to people. I wouldnt say theres necessarily a master class but we have a studio in los angeles that we have set up. And the idea is if youre a content creator and you want to learn how to do vr you can come to us and well show you how to use the camera. Well show you how to use editing tools and the compositing in vr. Its a new medium because youre dealing with a full 360 degrees sphere and when people first start creating content they sort of do what theyre used to. Theyll have some action going on in front of where they think the viewer is looking but completely ignoring the full 360 and one of the things we try to explain to them is look you have all the space to play with make sure that theres something going on on the side an even behind the viewer. Well, the next time we talk to you well make this an immersive experience and get our hands on the technology that youre creating. Always great to talk to you. Thank you for having me. Carl. Challenge is going to be showing that on television. Take a look at the markets. Dow is up 218. S p at 2017. Highest close for the year. Well see if it holds. Back in just a moment. I think it landed last tuesday. One second its there. Then, woosh, its gone. I swear i saw it swallow seven people. Seven. I just wish one of those people could have been mrs. Johnson. [dog bark] trust me, were dealing with a higher intelligence here. The allnew audi q7 is here. Twitter not doing so well though. The bank of japan and the fed. Lets get back to headquaters and the half. Thanks so much. Stocks surging as a big week looms for your money kate moore is the chief investment strategist and keith banks is the president of u. S. Trust a day after what were calling the draghi disconnect. The dow sharply higher going for the fourth consecutive positive week. Hasnt done that s
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