Transcripts For CNBC Closing Bell 20240622

Return to normal. Well take you live to athens once again and get you through this last hour of trading, as well. Big thinkers bringing their big ideas to aspen. Shell Oil President will be joining us. Ricardo salinas, Walter Isaacson robin chase and actress goldie hawn all joining us throughout the next two hours. A good view of what it looks like in aspen. If you are on twitter, you saw pictures of kelly wearing this suit. I sort of spilled the beans in my twitter account. She is not playing ironwoman here. Will not replace Robert Downey jr, though she could. Well explain. I need to take an iron supplement after messing around with that suit. Well tell you more about that many cog up. Weve got a number of big individual stock moves today. Tesla on the back of strong auto sales. Bps huge settlement. Dwindling takeover hopes for yelp. Lets get to business now. Just about two minutes into the reopening of trading. Shares up about 4 going into this news halt after they got approval for their new drug application for their drug which treats cystic fibrosis. This is all about a drug meant to treat cystic fibrosis. There are High Expectations whether it can make inroads. There are about 70,000 people that suffer from this genetic lung disease. Those shares well watch. Lets get to the big jobs report that came out this morning one day earlier than usual because of the holiday. The economy added 223,000 jobs last month, slightly below expectations. The Unemployment Rate fell to 5. 3 . Its extraordinary. The lowest rate seven years. The question now is what these numbers mean for the feds next rate hike or first rate hike. Joining us steeple fixed income and lasalle network. Lindsey, what do you think . Does the fed raise rates on the back of these continued job claims falling Unemployment Rate . Its hard to justify a nearterm rate increase. 223,000 is well below expectations. When you factor in the down regard revision this calls into the question of the markets overzealous of labor conditions. That fully reflects the fact half a million americans dropped out of the labor force if we look at average Hourly Earnings virtually nonexistent wage pressure no component of this mornings report suggests growing confidence in labor market strength. Something the fed has been clear they want to see to justify a nearterm rate increase. You think this delays that. Tom gimble you still think the fed raises rates sooner than later. Why . Its going to happen my guess would be late in the Third Quarter. Maybe early fourth quarter. We are going to add 3 million jobs over the course of the year averaging about 250,000 jobs a month, we are seeing really good growth but its not great growth what everybody wants to see. When youre borrowing money for free and able to capitalize Growth Companies are getting richer making more money, stock markets up. Is it real . What the feds got to say is weve got to put back things in place that. Starts with a small raise in rates and see how things react to that. Weve been going on this six, seven years now. Tom, when do you think that rate hike will be . Do you think it will fall this year or in the fall . No i think it will happen in the fall. My guess is early fourth quarter. Certain fed officials made it clear they are itching to raise rates sooner than later. Would it kill the economy for them to raise the fed funds rate one time to see what happens . I think its very clear there are several fed officials chomping at the bit to raise rates as they have been for the past several years. Remember, that continued underperformance of the economy kept the fed sidelines as we suspect it will in 2015. We maintain our forecast for liftoff to occur in 2016. A quarter point increase would not kill the economy. Remember the feds mandate is stable prices and full employment. With inflation in negative territory depending on the indices you are watching, its hard to justify liftoff at this point. Good to see you both. Thank you for join us today. Thank you. Wall street has been watching greece and its upcoming referendum sunday which will ultimately decide if the country stays in the European Union. Our chief International Correspondent Michelle Carusocabrera is live in athens. Good evening michelle. In just the last half hour the greek Prime Minister tsipras spoke to the greek people and said if you vote no and a no vote wins i will fly to brussels the next day and within 48 hours i will have signed a deal. He said the banks will not be closed for long. Both are extraordinary promises to make. Another one that is not up to him to decide at this point. The economy has gotten away from him. He mentioned that this is a vote about whether or not to stay in the euro. That is certainly the way other european leaders are describing it. Thats not how the Prime Minister is describing it. He is just saying he is trying to get a better deal. Do you know what the ballot says . Ive got one here. This is the question. Its quite long. It says should the plan of agreement be accepted which was submitted to the european commission, the European Central bank and International Monetary fund and euro group june 25th and comprises of two parts which constitute their unified proposal. The first is entitled reforms to be completed and Current Program and beyond the second is the preliminary debt analysis. Does that sound clear to you . It doesnt sound like a vote whether or not to stay in the euro. I ning a lot of greeks think that is what they are doing this sunday. Back to you. What do you think european officials think of his strategy . Clearly, he is campaigning for a no vote. Do you think he would pull off a deal with european officials within 48 hours after that if he gets a no vote . If they were to do that they would look like fools at this point. They have made very clear that at this point, they think a no vote, the dutch finance minister said today a no vote would leave the greek people on their own. That a greece that does not want to reform which means a no vote, is one that doesnt belong in the euro zone. Then the tonality has been so harsh. Suddenly has to blink. The markets arent helping out his side but the european side. The drama continues what a soap opera you are following there. Front row seat in athens. The greeks invented drama, remember that. Yes. The question is, is it a tragedy or comedy . That is what we are waiting to find out. We will see. We have dennis gartman. Rick santelli is with us. You are going crazy. If they vote no he will sign the deal if they vote no there is not going to be a deal for him to sign. What is the message he is sending . Hes got a no vote thats a bargaining chip he can use with the european officials. Thats way thinks it is. Europe made it clear thats not the case. What do you think the market will do with all this . If they get the no vote the market comes under pressure and the drama ramps up. Europe will not sign this deal. Therefore, weve been thrown onto a tizzy again if they vote yes, he could go there. If they vote yes, they would sign on the dotted line and all walk away from it that. Would cause the market to stabilize. Dennis which way are you betting the euro goes from here . Its so up for grabs. This is astonishing. First of all, the referendum as michelle was explaining is perhaps the most confusing referendum i think ive ever read. Im not sure most greeks let me back off from that. Im not sure a great number of greeks understand what the no vote or yes vote will be. When i read the referendum i was confused myself. I look at this and say, i think the polls indicate a yes vote will carry if a yes vote carries and probably shall, which means they are going to stay within the union, that means tsipras basically held his own vote of no confidence and is going to have to stand down from the Prime Ministership eventually which means a new election which means more delays. Im afraid he played his hand very poorly. Pour confusion abounds. If the no vote prevails then the germans cannot back down. They have to say to the greeks youre out. Germany wants the greeks in to keep the euro as weak as possible. This is utterly confusing. At this point, i wish i had watched more soccer or watched more golf and didnt have to pay much attention to greece. Reminds me of the ballot measures they throw on the california ballot they are so convoluted in wording. Rick, can you tell from the markets, are they setting themselves up one way or the other in terms of currency and debt obligations . Very difficult to tell. You have two competing dynamics. You have a dropping propensity of investors to be pricing in any type of fed activity for 2015. That gives the dollar a little softness in and of itself. The outcome, i cant agree with any of the guests. I dont think the outcome is knowable. I dont think its knowable whether the fed will raise or as to how all the dynamics in europe move no matter what the vote is. I say very few understand the real chips at stake in this high stakes poker game. Who is bluffing who isnt bluffing. At the end of the day, i think history of five years speaks for itself. It isnt a tragedy or a comedy. Greece is a charity. In that regard the outcome of why europe is fighting so hard to keep it in the union means a lot. There is a political aspect to this on the experiment side of the European Union with the treaty of lisbon and no constitution that i think is difficult to price. Having said that, i think the most noteworthy aspect of the marketplace, you get an iffy no good not bad jobs report. Drop in Unemployment Rate is not good news for 32,000 people. But to still be this close to 2. 40 in a 10 and 309year bond for the moment the trajectory of Interest Rates has a bias to the up side. I think thats the reality at the moment given what we know. Thank you all three for your thoughts on todays market action. Have a good long holiday weekend. See you later. We are going to take a break. 47 minutes left in the trading session. The dow off the lows as you often like to hear me say. Down 42 points. Dow was down over 60. Our special aspen ideas edition of closing bell continues. Our lineup includes mexican billionaire. Plus zip car cofounder robin chase and shell Oil President marvin odum. Tesla shares popping after beating expectations for its quarterly sales, but now elon musks goals for the full year are in question. Those details coming up. You total your brand new car. Nobodys hurt,but there will still be pain. It comes when your Insurance Company says theyll only pay threequarters of what it takes to replace it. What are you supposed to do, drive threequarters of a car . Now if you had a Liberty Mutual new car replacement, youd get your whole car back. I guess they dont want you driving around on three wheels. Smart. New car replacement is just one of the features that come standard with a base Liberty Mutual policy. And for drivers with accident forgivness,rates wont go up due to your first accident. Learn more by calling switch to Liberty Mutual and you can save up to 423. For a free quote today,call Liberty Mutual insurance at see Car Insurance in a whole new light. Liberty mutual insurance. Welcome back. The price of oil dropping after the Baker Hughes Oil rig count went up for the First Time Since december. Oil had been going lower this week anyway. As youll see, down another 5 cents. Bp agreeing to pay 18. 7 billion in compensation for that oil spill in the gulf states going back to 2010. Bp trading higher up by about 5. 3 . Here is the breakdown of that 18. 7 billion you pointed out. Going state by state through the gulf states. Louisiana is going to be the biggest beneficiary here with 6. 8 billion. The governor of alabama said this settlement is all about moving on. Todays news will never make up for the loss and hurt experienced by so many alabamians, but it is a good step forward towards making alabama whole again. Reporter here is what bps chairman said. It resolves the largest remaining legal exposures, provides clarity on cost and certainty of payment for all parties involved. This is not necessarily a done deal at this point. This is all going to have to go through a public process. Ultimately, it will have to be approved by a federal judge. Thank you so much. 17 of u. S. Oil production does take place in the gulf of mexico, but it is expensive. Oil prices are still low. Shell embarking on a new deep water drilling project off the coast of louisiana. Here with me to talk about the new project is marvin odum president of shell oil company. This is an important announcement for us. I think a couple of things to keep in mind. The scale of the resources associated with this project. This is a World Class Oil and gas resource that shell discovered in the last decade now bringing it to fruition and on to production. The fact that the gulf of mexico is still capable produce these resources is significant. Shell has been successful in exploring in this part of the gulf of mexico is meaningful. Has a good track record bringing these projects forward ahead of budget and on schedule. If you look at the announcement probably the most significant piece was we provided the breakeven price in terms of global oil prices. About 55 a barrel what that does is not only tells you why this will be a profitable project, it allows you to put it in contrast of shell resources. Production has become more cheapble, flexible and on demand this. Project youve been involved with is a much bigger scale. At 55, do you think its more economical to drill in the gulf of mexico with some of the shale projects that exist . Certainly for some. Not all deep Water Resources are created equally. You have to be in the best projects in each of those parts of the portfolio. Appomattox is a world class deep water project. The shale in the Onshore North America in particular are the sweet spots of those reservoirs. Those are the competitive pieces. Its more that peripheral area. Still oil and gas and production to be made before expenses. Depends on what you are talking about. What about the arctic which is another Big Initiative for you guys . We spoke last time about embarking on the project. Now you are heading up there. The cost of doing that has to be much higher than weve been discussing. I have to take you back to thinking about whats the scale of the resources. Once you have production in alaska, what its pace which it can be produced and the rate you can produce those hydric carbons. These are world class resources. That makes for an economic competitive project. We are in the exploration phase. If resources are there we think are there, it will compete with the projects we are talking about. Sounds like its too soon to know the breakeven price. You are able to do with it oil prices where they are today if we stay here will all this be economically viable for you guys . What you have to add to the question is the time frame. Exploration now in alaska if we make a discovery, that production wouldnt come online probably between 10 and 20 years. You are talking about what will be oil price be in that time frame. About polar bears and walruses . Its about doing this the right way. The basis for getting approval from the federal government is protecting the natural environment, protecting from oil spills and protecting the mammals up there. Thats a core part of the regulatory process here. Weve seen protests. Sure. When you sleep at night, do you sleep secure knowing that you are doing something in the best interest of this country despite what some of the critics and environmentalists are worried about . I do. Its not sufficient to say i do sleep comfortably with that. As somebody responsible for this company and this business, my number one concern is doing it safely for people safely for the environment if i dont do both those things i dont have a business. That is job number one for us. With those protections, this is the right time to do what we are proposing to do. The big ideas and where you are going to be doing business. Good to see you. Marvin odum president of shell. We are heading to the close here. Weve got about 37 minutes left with the dow down 31 points. Much more to come from the aspen ideas festival in colorado. Mexican billionaire ricardo salinas, Walter Isaacson will be there. Zip car cofounder robin chase, plus kelly will have a business zen moment with actress goldie hawn who is quite the business haven, by the way. Tesla model s cars hitting a record in the june quarter. Well have a special report. The mercedesbenz summer event is here. Now get the unmistakable thrill. And the incredible rush of the mercedesbenz youve always wanted. But you better get here fast. Yay, daddys here here you go, honey. Thank you. Because a good thing like this wont last forever. See your authorized dealer for an incredible offer on the exhilarating c300 sport sedan. But hurry, offers end soon. Share your summer moments in your mercedesbenz with us. Verizon say neversettle. Tmobile agrees. Never settle for verizons overpriced gimmicks. Try the uncarrier riskfree for 14 days youll love it, or well pay for you to go back. Tesla in the Second Quarter delivered 11,507. It was a record quarter for deliveries. Again, the important thing to keep in mind, this is total deliveries. They dont break it down by region. We dont know how many went to the u. S. Versus europe versus china. Nonetheless, bulls of tesla and the stock are in full form today. This stock is moving close to a 52week high. We are at levels we last saw september of last year. When you look at tesla its all about the second half of this year. Thats when the company has really to increase production and we know they are starting to increase production because they are going to start deliveries of the model x. It is scheduled to start deliveries late Third Quarter then ramp up in the fourth quarter. The expectation is when you factor in model x with model s, tesla is targeting deliveries of 55,000 vehicles this year. Take a look at shares of what we will call the american automakers. Those based here in the u. S. This is yeartodate. Tesla versus Fiat Chrysler versus ford and gm. As you can see, there is no movement at all for gm and ford. Fiat chrysler we know the story relative to the euro and consolidation talk. Lately, tesla has been catching up. If i may jump in here the fullyear target for tesla 55,000 or so. That is conservative in what they are going to do for the model x. If they keep up for the run rate for the quarter, thats about 44,000. Yeah. Most believe they will probably be delivering about 10,000 of the model x. Again, you have to anticipate or believe that they are going to have deliveries as scheduled or as theyre targeting beginning late q3 and then they can ramp up deliveries in the fourth quarter. As you know in the auto industry, when you have a brandnew vehicle, and this is not just tesla but all automakers, there is nothing certain when it comes to the launch of a new vehicle. If they meet those goals that, will give a lot of oomph to those bulls who believe tesla, they can go from one vehicle to two vehicles. Thats a point. Ive seen plenty of them out here in aspen. Phil lebeau with the latest on the electric sales company. Here is your news update at this hour. Military officials canceling fourth of july events at a u. S. Air base in england. The decision was made to protect Public Safety based on the most current local threat assessments. A csx Train Derailment under investigation in eastern tennessee. The train was carrying a toxic and flammable substance jumped the tracks and caught fire. 5,000 residents have been evacuated and it could last as long as 48 hours. Every race track in nascar banding together and asking fans not to display confederate flags. They are making a renewed effort to create an allinclusive, even more welcoming atmosphere following the deadly attack at a South Carolina church two weeks ago. Whole foods top executives making a twominute video apology on their companys blog for overcharging customers. They acknowledge the Supermarket Chain made some mistakes. It comes a week after a new york city investigation found several stores were mislabeling packaged goods and selling them for more than they were worth. That is your cnbc news update at this hour. Back to bill and kelly on closing bell. Thank you. We are heading to the close and the markets starting to come back. Art cashin youve got a balance for me . 70 to the buy side among the s p stocks. Maybe well get a bounce further as we head toward the close. Ricardo salinas talks media, univisions proposed ipo, donned trump and more. Later, zip car cofounder robin chase weighs in on challenges facing the socalled sharing economy. Wait till you hear if she thinks its heading for a brick wall. When youre not confident your companys data is secure the possibility of a breach can quickly become the only thing you think about. Thats where at t can help. We monitor Network Traffic worldwide, so we can see things others cant. Mitigating risks across your business. Leaving you free to focus on what matters most. Every Auto Insurance policy has a number. But not every Insurance Company understands the life behind it. Those who have served our nation have earned the very best service in return. Usaa. We know what it means to serve. Get an Auto Insurance quote and see why 92 of our members plan to stay for life. Welcome back. While you were gone we had a what do you call this you do . Its the wootwoot. Its a threeday weekend. The first time i witnessed it on the floor next to somebody who was participating, you have a set of lungs on you. You have to. I my knowledge you look beyond this last half hour of trading. Ive got the greek referendum sunday. Anything else next week you are watching for right now . You want to see how its going to be resolved. The markets are looking for clarity, resolution. You saw how the markets reacted, sold off monday. They rallied on tuesday. You wind up wednesday being that day where it was the last day they had. Then the threeday weekend. The jobs number . Everybody took today, they came in and took the afternoon off and heading to do their plans for fourth of july. Today, im surprised you didnt see a little more sell pressure. I think its just a product of maybe there werent a lot of Market Participants around today. Who wanted to be long ahead of this weekend with so many issues we have been dealing with . Im not sure if the vote is what the market is focused on right now. You have to see. We know that greece is not being kicked out at this point. That was what rallied the market yesterday. I think for the marketplace, we need some closure. I dont think we are going to get that on sunday monday or tuesday. Do you . I dont see it. Weve been through this before. Even though the Prime Minister says if it gets a no vote he is in brussels. I saw that. I saw you run that headline. Not really sure. Enjoy your fourth. God bless america. I should have worn my flag tie. Its mark haines. We all remember him. Kelly, its all yours now. Thank you so much. We are out here in aspen talking about the big ideas and latino media market is one of the Fastest Growing groups in the americas. My next guest has exports in many countries. Should we expect more cross border media transactions . Its difficult. Its a highly regulated segment. When i tried to buy stations years ago it was not possible. What is going cross border is content. Content has no borders. Latino hispanic market in the u. S. Is a huge market. They crave content. Are you looking to grow your companys presence in this country . We have a broadcast network here. It could do better. We are working on that. Content is key. Big events like sports boxing novellas are big things. We see how successful univision has been. We are hearing reports they are going to go public what does that say to you . Again, producing and delivering great Quality Content is a great business. Theres been lots of talk about how tv old tv broadcast tv is dying. Nothing could be further from the truth. Thing is broadcast tv gets you the wide reach. Nothing else can give you reach, not digital, not anything. A lot of people lately are focusing on mexicos economy. You have a reformer in there. Weve seen a few struggles. The currencies is at low against the u. S. Dollar. How solid is the situation south of the border . We have a good economy. We have 120 million people. 50 million are in the labor force. We are a very young country. Mexico is a huge export and import partner for the u. S. The economy is doing good. What is happening with the Exchange Rate is more of a strong dollar issue than a weak peso. The dollar has been strong against every other currency. Donald trump made headlines when in referring to mexico he said, they are not our friend, believe me. They are laughing at us our stupidity and beating us economically. Do you think its right . He showed the worst face of america to the world. I know most americans dont think like that. Its a disgrace somebody can speak in those terms. He spoke about immigrants which was disparageing. Thats why univision dropped some of his content. They are in the right. Hes been some what unpopular in mexico. Yes. The only thing is pinatas are for parties and festivities. I dont think you want to invite him to a party. You sold Telecom Business to at t. Theres been deregulation in the telco space in mexico. How much opportunity is there to grow . Do you think more American Companies are going to be looking at prospects . At t deal was a great deal. Theyve invested now, committed investment 7. 4 billion to our country. They are going to become the largest carrier displacing the existent dominant force. Thats great news for consumers, great news for competition. Weve seen other investments like this. Constellation brands. Theres lots of things to do. We need a better political environment environment. An environment that values investment in education, in capital goods. That gives us better productivity and better job wage growth. You mention also some of those things that are important, cultivating successful economies. You focus as well on music, surprisingly, education with young kids. You have orchestras around the world. Mexico needs three things. Education, education, education. Weve done such a bad job as a society of forming the kids. This musical education is a very good example. Its a part that has been lets say, denigrated. Its not important. They see it as an optional thing what weve seen with the Musical Program is it creates real important values like excellence persistence, discipline, team work. How much better can you get . I love it. They sound wonderful. They were joining us here at the aspen ideas festival. Great to have them here and great to hear from you. Thank you for your time. Appreciate it. Ricardo salinas. Great stuff. Heading to the close about 19 minutes left with the dow down 35 points. On the Independence Day weekend approaching, what better time to look at the performance of the Defense Industry . Jane wells offers her second half playbook on that important sector. Then we showed you this picture of kelly earlier in some futuristic outfit. What she is doing is its an aging suit that tells you what its like to experience p the physical limitations and challenges of getting old. As i said all you had to do was ask me. Well get her impressions coming up. You total your brand new car. Nobodys hurt,but there will still be pain. It comes when your Insurance Company says theyll only pay threequarters of what it takes to replace it. What are you supposed to do, drive threequarters of a car . Now if you had a Liberty Mutual new car replacement, youd get your whole car back. I guess they dont want you driving around on three wheels. Smart. New car replacement is just one of the features that come standard with a base Liberty Mutual policy. And for drivers with accident forgivness,rates wont go up due to your first accident. Learn more by calling switch to Liberty Mutual and you can save up to 423. For a free quote today,call Liberty Mutual insurance at see Car Insurance in a whole new light. Liberty mutual insurance. Welcome back. One of the stocks getting a lot of attention today is yelp. Its down more than 10 right now on reports that the Consumer Review website has temporarily decided not to pursue a sale. Yelp is down about 20 since the new broke in early may it was working with a bank to explore a possible sale. Now for the moment it looks like its not going to happen and the stock is taking it on the chin. Winning military contracts, the bread and butter of the Defense Sector with Lockheed Martin, boeing and General Dynamics engaged in dog fights on every bid, for what the remaining six months will look like for the Defense Sector we are joined with jane wells and her second half playbook. The defense index outperformed the Broader Market even in the face of lower revenues. Boom. What bang can we expect in the second half . Three things to watch. First, in about a month, Lockheed Martin will get over a huge hurdle when the marine corps certifies the first f35 fully operational. No more testing for the most expensive program ever. Second, get ready for the biggest deal the new air force bomber. This is what we do. It wants this one bad but competing against lockheed boeing which could total 75 billion. Whoever loses could get out of the manned military aircraft business all together as there wont be another manned plane in the works for possibly decades. Some even think boeing could buy northrop. Can spacex fix its rocket to compete for a military launch . If that happens later than sooner, it will be lucrative for lockheed and boeing who own the pentagons only other customer for doing that. Ubs says cost cutting should end this year and that should mean for better margins going ahead. Raytheon down about 11 yeartodate. Rbc says it is the, quote, most growth oriented defense name out there with the most exposure to the International Market by a wide margin. Well have to see. Back to you. Jane thanks very much. Heading to the close about 12 minutes left. Art cashin said weve got more bias to the buy side. 350 million to buy going into the close here. Not a lot, but it hasnt been a volatile day anyway. With the markets closed tomorrow, well get some market fireworks from david darst. Looking forward to that. Later out at the aspen ideas festival in colorado kelly will talk to goldie hawn who found a new role outside hollywood. That would be working with ceos to create healthier communities. Its kelly and goldie coming up. Two streetlights. The only difference that little blue thingy. You see it . Thats a sensor. Using ge software, the light can react to its environment getting brighter only when its needed. In a night it saves a little energy. But, in a year it saves a lot. And the other street . Its been Burning Energy all night. For frank. Franks a cat. Now, two things that are exactly the same have never been more different. Ge software. Get connected. Get insights. Get optimized. Here at the Td Ameritrade trader group, they work all the time. Sup jj . Working hard . Working 24 7 on mobile trader, rated 1 trading app in the app store. It lets you trade stocks options, futures. Even advanced orders. And it offers more charts than a lot of the other competitors do in desktop. You work so late. I guess you dont see your family very much . I see them all the time. Did you finish your derivative pricing model, honey . For all the confidence you need. Td ameritrade. You got this. Xco0 welcome back. The buy diagnose come in and turned the s p positive. The dow and nasdaq are lower. Nasdaq just turned positive there. Joining me is our friend independent Investment Consultant david darst. Happy thursday before the long weekend here. No one has a clue what is going to happen to greece. How are you supposed to trade this thing . What are your expectations . I think a lot of people are beginning to think about if there are a cascade of defaults financial defaults of greece not being able to make additional payments to the efsf european Financial Stability facility. That means perhaps a recapitalization of European Central bank. They owe them 160 billion euros. The capital of the European Central bank is 8 billion euros. That would lead to recapitalization. All these other nations would be forced to send in additional money. You hope it does not come to that. You have to always prepare for some unsettlement if they vote no which they might well do. The Prime Minister said if he gets a no vote he says he will be in brussels the next day and he will have a deal with european officials in 48 hours after that. Ambitious. He promised a lot of things. I find it amazing if we get profits. Next wednesday alcoa begins official reporting season. If we can get profits, right now consensus is for minus 4 if that can be, for the s p 500 for this quarter, if those profit numbers are too low in actuality and the outlook is good the market can live. I find it amazing youve got the average Hourly Earnings were not so good today. The headline number weve got 5. 3 unemployment. 3 million jobs created last year, on track to create 3 million this year. Weve all become too smart now. We dont just go with the headline numbers. We now know about wage increases and average Hourly Earnings. What is the feeling now in your camp about the fed raising rates at some point . If it raises rates, its a good sign if they dont raise rates, market will interpret it as a good sign. Shakespeare in henry vi said sometimes the brightest day hath a cloud. After summer ever more succeeds, barren winter with his wrathful nipping cold. So cares enjoys abound as seasons flee. Youve got to know we are taking a little bit with the bad and good. If you get an ounce of good the market can lift. Thats our investment committees view. That is Morgan Stanleys view. I did note Goldman Sachs reduced their earnings estimate down to 112. Adam parker is at 124. Consensus is at 119. To see goldman parse this and come down to 112 lack of revenue growth. You want to see ceos and cfos talk about revenue growth. Youve got ism nonmanufacturing Consumer Credit and sales. Thats enough. Well wait for that. Have a great weekend. Happy 239th birthday usa and go american women sunday night. Against japan. A great world cup there you were reciting with henry vi. Whats after the bell . All i could think was something is rotten in denmark. Well continue our coverage of the aspen ideas festival. Auto sharing in vogue with everybody from uber to the old guard guys like ford. There is one company that was first on the road more than a decade ago. Zip car. Im going to talk to zip car cofounder robin chase about this sharing trend and buzz car. Keep it here. You are watching closing bell on cnbc. First in business worldwide. Your dad just kissed my mom. Turning two worlds into one takes love. Helping protect that world takes state farm. What if there were only one kind of dog . Then it would be easy to know everything about that one breed. But in fact, there are over three hundred breeds of dogs. Because no one can be an expert in every one. An app powered by ibm watson will help vets tap Specialized Knowledge in the cloud for every breed. And whatever else walks, flies or slithers through the door. Ibm watson is working to make medicine smarter every day. So youre a Small Business expert from at t . Yeah, give me a problem and ive got the solution. Well, we have 30 years of customer records. Our cloud can keep them safe and accessible anywhere. My drivers dont have time to fill out forms. Tablets. Keep them all digital. Were looking to double our deliveries. Our fleet apps will find the fastest route. Oh, and your boysenberry apple scones smell about done. Ahh, youre good. I like to bake. With at t get up to 400 dollars in total savings on tools to manage your business. Let me show you. This is the dow today. The rally this morning on the open failed. The s p and nasdaq look like theyll finish positive. What were the leaders to the up side . Utilities led the way with a gain of 1. 4 . You had Energy Telecom services and technology in the green today. Interest rates dropped when we got the nonfarm payroll report. The dollar weakened. Some question about whether september is on the docket for a rate hike. For monday how do you play this greek thing . A lot of people were betting on, here is the spain etf, italy, france germany. I would think there would be more flight to safety that. Would be u. S. Bonds. We talked to our partner at kensho. Have a great ship to chicago and the fair thee well concert. More from the aspen ideas conference with kelly and company. Welcome to the closing bell. Lets look at the major indexes. Dow, s p and nasdaq all in the red. Dow giving up 31 points. We have Walter Isaacson from the aspen institute. Kayla tausche joins us. We have stephanie link and tim seymour. Stephanie, what do you think of the action today . Are people running in place until we have clarity about greece on sunday . Its a holidayshortened week and then this mixed report on the jobs report. The headline was okay solid. In line with what weve been seeing over the last several months at 223,000 jobs. Underneath the surface, there were enough doubts in terms of negative revisions and limited wage growth people are wondering when the fed is going to lift off. I thought there were enough encouraging signs in addition to other Economic Activity that they can lift off in september. It really remains to be the biggest question. What did you think about the response to the jobs number today . With the adp number yesterday coming in stronger and four out of the last five months missed to the down side people thought this could be something to counter greece put more pressure on the dollar. The dix has been running into resistance. Is the trend line you draw down from the highs. What it means is i think the u. S. Economy is still Strong Enough where the fed is very much in play for a september rate hike. The fact that the Participation Rate was down ive got Unemployment Rate down et cetera, these are more optical elements. Doesnt surprise me we faded into the close. Range on the s p is 2054 to 2096. When you consider monday this is a relatively positive close. Fair enough. Out here we heard from so many people on panels and in discussions talking about the economy and trying to digest that jobs report. What is the theme that is emerging, as far as you are concerned . The theme coming out of the jobs report today is whether or not technology is in the long term going to decrease labor Participation Rates, decrease the number of jobs. I never believed it would. People have been saying that since 1830. Whether it was Larry Summers who has been saying this time its a bit different. You look at numbers this morning. Its a fascinating jobs report. It tells you we cant get that Participation Rate up. We are not seeing any wage inflation. Now we are looking and will talk about it later, this notion of a freelance economy where people are not fully participating. Is it out of desire or because of a bad or entering a new technological phase where jobs are fundamentally different . If so we have senator mark warner talking about do we need a new social contract with pensions and disability payment . Everybody in this economy gets to chip in to a social fund so we can have a new third way of doing jobs in this country. Oh my goodness. So much to get to. Im excited for some of these chats. First is there a looming deadline on sunday. Michelle carusocabrera in athens with the latest on whats become a confusing vote as to what the yes and no even means. Its about an offer that doesnt exist any more at this point. It is confusing. Regardless for the greek Prime Minister Alexis Tsipras went on National Television tonight and told the greek people if he got a strong no vote a no to the agreement, he would go to brussels and assured them he would get a deal within 48 hours. We presume he thinks it would be a better deal than one he previously rejected. Its unclear whether the voters believe him at this point. It is an extraordinary promise to make. Voting booths are being moved, ballots are being printed in anticipation of sunday where there is a long complicated question on the ballot about the agreement related to the imf and ecb. The rest of europe is telling greece, this is a vote on whether or not you want to stay in the euro. Do you want to accept the unpopular reforms that are necessary for your economy and then you cab get bailout money or go your own way . There are Campaign Posters everywhere. Lets learn greek tonight. Oxi means no. Nai means yes. You go throughout the city. Everywhere you see oxi and mai posters as people try to persuade the voters to their position. Michelle in the last several days since the referendum was announced this weekend, how if its possible to gauge it have possible attitudes shifted . Especially as tsipras rhetoric voting no if you want to stay while creditors are saying vote yes added more murkiness to all of this . The most recent numbers we saw showed yes, but not by a whole lot. The general thinking is its close. Ultimately what you believe the core question is will drive the vote. If voters do believe this is about whether or not they are going to stay in the euro you are going to get an overwhelming yes. When you ask voters that directly, you get an overwhelming yes. If they think europeans are bluffing, its going to be tougher to call. Fair enough. Thank you so much. Michelle carusocabrera evening time after a long day in athens and tomorrow follow. We appreciate it. Kayla, in this case im not sure what yes means. People are confused about what yes means, too. Especially after the finance minister said if there was a yes vote he would go and tender his resignation. Even though on one hand you have tsipras saying youll negotiate a deal and get it done michelle pointed out that deal doesnt exist. What does the government look like . This is a popularly elected government. One trader i spoke to said its like greece presented an olive branch and proceeded to rip up and light the olive branch on fire. The whole spectacle is mind boggling. We were talking about a new social contract in the u. S. That is effectively what is up for grabs in greece right now. Yes. One of the people here nick barnes who had been ambassador to the greece was talking with Larry Summers on the panel. The greeks didnt invent the European Union, but they did invent democracy. As complicated as they sound, i think its simple in the end. If you vote yes, you want to stay in the euro zone. If you vote no you dont. If you vote yes, are going to get rid of this government. If you vote no they are not going to get a deal. Its good. Its clarifying. In the end, the greeks have to decide. If they decide no its got to be a nice sustained way to get them out of the euro. That gets back to what investors should do. Which may or may not be resolved this weekend. Its i probably not going to be that clear no matter what the decision is. Take a deep breath. Once we get through greece and the volatility around it, lets step back and say europe is seeing a recovery in their economies. You have an ecb accommodative and willing to do anything to make sure that they continue to make progress in their economic development. In the United States we had a good week in terms of Economic Data minus this report today that was mixed. There was enough on the consumer and housing in isf and manufacturing that shows we are getting out of the malaise. 2. 5 growth. Eventually the fed is going to set to raise rates and financials should lead the rally. That is a good thing. Tim, what are your trades onto the weekend . Outside europe cross asset hedging is still cheap. Maybe you could even do it monday. Other Asset Classes are pricing in yes or less concerned. As i look into europe and to dove tail what was said i believe with stephanie, europe is cheap. Spain was oversold this week. If you want to play this as a trader in dollar terms, could you play the ewp, ishare spain. This is where youll get the most bang for your buck if greece is voting yes. I feel kind of mixed on this. You have markets that arent totally prepared for no with you a lot of opportunity in either environment. You just have to wait this through a little bit. Fair enough. Stephanie and tim, thank you both for your thoughts on this market. Tim will be on fast money at 5 00. Theyll talk to bob peck about the news that shares of yelp are down more than 10 today. If you cant beat them, join them. Yahoo testing google. A desperate move or start of a larger partnership. Marissas view on women in the tech world. The evolution of entertainment with goldie hawn. Say neversettle. Tmobile agrees. Never settle for verizons overpriced gimmicks. Try the uncarrier riskfree for 14 days youll love it, or well pay for you to go back. A new season brings a new look. A chance to try something different. This summer, challenge your preconceptions and experience a cadillac for yourself. Take advantage of our summer offers. The 2015 cadillac srx, a crossover with space safety, and style. Lease this from around 339 per month. Yahoo is beginning to test a Search Partnership with google. The company said as we work to create the best experiences for yahoo users, from time to time we run small test wts a variety of partners including search providers. Is this move an act of desperation on yahoos part . I think it is a little move of desperation. Eight years ago it was a significant story and the doj moved to block a partnership. Now yahoo is not as significant in the search space. The government probably doesnt care as much. Yahoo is having a tough quarter. This is an easy way to make money off Google Search ads. Kayla, im sure people are speculating what this means for yahoo and google working more closely together in the future. I think this was teed up in april when yahoo exited a tenyear relationship it had with microsoft. They still have a relationship and agreement. It did allow yahoo to start working with other search partners. Marissa meyer was in charge of googles search product back when she was at that company if there is anyone who can figure out how to leverage other partners to try and harness whatever power is left in yahoo search, i would expect Marissa Mayer would have that power. Whether this burgeoning partnership would bear fruit, its interesting to see her testing new avenues following ate judgment to the microsoft contract. Does this mean if im searching on yahoo i might effectively be using Google Technology . Yes. Thats what it means. Google confirmed that. Its not exclusive. The more significant thing here is Google Searches are on mobile devices. Apple has been making a lot of moves around that as well. I think that Partnership Around mobile we dont know the details there. Where does this leave microsoft . Microsoft has been peeling out of the ad business. Earlier this week it moves a Significant Partnership with aol. It sold its maps business to uber. We are getting a sense microsoft is skimming down and becoming leaner and meaner in some sense and pulling itself out of the display ad business. Fair enough. Search is still the juggernaut. Two Big Questions here. First whether or not goggle will arouse antitrust actions. This wasnt allowed before. It would be hard because when the Justice Department did it to microsoft, all of a sudden things disrupted microsoft anyway. Microsoft missed out on 0 mobile. Missed out on search missed out on many things. The real question to me is can somebody in the near future ever disrupt google . Is there a way to do so . Its ahead of Network Search mobile search twitter to make us shift from google if they have complete dominance, its going to be odd. They are going to have too much strength maybe. Mark you want to weigh in . Sure. The one company that has an opportunity is apple. Marissa mayer has been pushing to move apple to default Search Engine away from goog toll yahoo. What it looks like reading the tea leaves from apple, theyll move to using siri and voice assistance and Machine Learning technologies to build a smart personal assistance search if they can push google off iphone users, that would be very significant and a big loss to google. Mark, thank you for joining us. Mark bergen. Ford the latest company to get into the ride sharing business. Is the sharing economy here to stay . Robin chase will weigh in next. Also whole foods coceos making a major mea culpa. If there is a mistake not in your favor we promise to give that you item for free. Is it too late . Has the reputation been damaged beyond repair . Whether its to make ends meet or more hours, more americans are freelancing. Its fuelled by the sharing economy. Mary thompson has more in our look where the jobs are. Jobs in the sharing economy can generate more income and for some better pay. Still experts fear as more people become freelancers, the erratic nature of this income could hurt the economy. Lets talk about the up side where sharing Companies Like online job site task rabbit are putting people to work. Its 30,000 taskers make extra or fulltime pay with odd jobs from cooking to plumbing or making deliveries. By 202040 will do freelance work like these taskers who set their own rates. Rates that are better than the norm. Ive got clear evidence that the wage rates on task rabbit across every profession are significantly higher than the bureau of labor statistics averages for the same professions. The problem lies in freelancers if work is scarce hurting economic growth. The Freelancers Union says a possible solution would be a governmentrun freelancer funded taxfree saving account freelancers could access if work dries up providing a safety net for people whose work is increasingly in demand but that demand can still be sporadic. Back to you. It can. Thank you so much mary thompson. The sharing economy having an impact on the road. Last week ford announced a Pilot Program to allow customers to rent them out to prescreened drivers for use. A pioneer of auto sharing joins me now first on cnbc, robin chase, cofounder of zip car with Walter Isaacson. Welcome to you. Nice to be here. The most amazing thing is you started zip car in 1999. I know. 15 years ago. When people say how amazing uber and lift are, we did that 15 years ago. We know mobile devices being ubiquitous is helping accelerate this trend. It is. What does it mean for those taking up this work . People taking up this work i think our mothers and as a mother we told her kids get a fulltime job with benefits. That was number one. The flip side today, we would like flexibility, economic agency. We talk about the down side. I would rather have three jobs im doing simultaneously so im not employed or unemployed. People are really liking to do multiple things find their passions, get money on the side. Its happening. I can share an example here in aspen. Looking for a ride i thought let me see if uber works. Sure enough within three, four minutes the guy said i think i might be the only uber driver in aspen, but he buys and sells records. He says it helps me even out my income. Hes got a kid. It goes to your point about the way in which does the sharing economy make us more vulnerable or more secure. I think its more secure. The piece you talked about. I see this sharing economy as part of a larger economy and leveraging what i would call excess capacity on the platform. Uber and lift didnt have to find all those drivers. Your driver is doing it on his free time. If it works hell start putting more time and effort into it we are seeing this happen in every single sector. The massive online course work you have a professor who is a fabulous speaker. Let him talk to 15,000 students. In media with Huffington Post 3d printing. If you think about the open data movement, its excess capacity. This was data celebritied one time and now we can find new value. From a company perspective, that is compelling. Now im able to grow quickly and learn very quickly and do this adaptation like lift and uber everywhere without it being on my dime. Its compelling. Lets talk about the social contract. If we are not going to draw our benefits and our stability, and i know we werent already recently, but from companies, what then needs to be done to make sure people can have access to those important pillars of their standard of living . Our parents said get a fulltime job with benefits. I did. I joined a corporation. It is sort of a 300yearold Institution Type thing that you join a big company and provide with benefit. We need a third way for people who are going to do task rabbit in the morning, driving uber at night, sharing on air bnb. Senator mark warner has been trying to figure out how to we do a new contract with a gig economy . One thing we need to do is to say, all right, whether you are driving uber for an hour or two, then doing some task rabbit for an hour or two, some portion of that goes into a fund. That fund helps you if you need disability, if you need a pension. If you need anything. Paid leave. Its a 401 k on steroids. The Affordable Care act allows health care to be affordable. We need other benefits to be affordable. That not only helps people trying to make it in the gig economy, it gives them the freedom to do that. It makes for a more fluid economy. The piece in addition to that if you think of work place rules and protections, that is not protecting people when they are doing this parttime piece. You cant join a union. We need to think about the things we decided were important for work place protection and get them applying to this gig economy. It brings up a point today we are reminded with the jobs report. It doesnt accurately count or reflect this work. There is a big difference if you are a typical employee filing a w2 versus independent contractor relying on a bunch of 1099s. The whole system is structured to encourage fulltime work. It probably needs to change. There is a sentence i like if we think about governments and companies, we really encourage them to have revenue resilience. You would never have one source of revenue ever. When we go to the smallest economic unit an individual has been told you can do one thing and you are employed or unemployed. We need to build more resiliency. We need more options. And look at the jobs number. Is that labor Participation Rate really accurate in the long term . Absolutely critical question. Thank you so much for joining us. Revenue resilience. A lot to think about. Robin chase is cofounder of zip car. Check on the sharing economy at the spark at cnbc. Com thespark. Its official now. Kind and kraft combined to form the kraftheinz company. Yesterday shareholders of both companies approved this merger. Now the company will be a separately publically traded Company Owned 51 by heinz shareholders and 49 by existing kraft. It will maintain its dual headquarters structure, heinz in pittsburgh and kraft operations in chicago. Back to you. Thank you. Its time for a cnbc news update with sue herera. Here whats happening. The u. S. Seeing its first death from measles since 2003. Health officials saying a woman in Washington State died from the illness this spring. The woman did not show the symptoms typically associated with the measles. The infection wasnt detected until an autopsy was performed. Donald trumps relationship with golf is intact despite his many comments about immigrants. The pga, lpga and pga tour will stick with their plans to host tournaments on his courses after nbc, univision and macys cut their ties with trump earlier this week. An nbc bay area news crew making news of their own. They were mugged while covering a murder in san francisco. A photographer was robbed of his gear and pistol whipped. The reporter was not injured but a competing Team Reporter was robbed. A man claiming his 5 million lottery prize today. He is the father of four. He was forced to retire from the fdny due to Health Conditions after the terrorist attacks. He won the top prize in a scratchoff ticket. That is your cnbc news update. Back to you. Su. Whole foods admitting customers were overcharged. The Company Promising to fix the problem. Has the damage been done to the reputation . Well talk about that next. And no this isnt my audition for the next marvel superhero movie. Find out why im wearing that suit and why millennials wearing it will literally feel like their grandparents. If you cant stand the heat, get off the test track. Get the mercedesbenz youve been burning for at the summer event, going on now at your authorized mercedesbenz dealer. Hurry, before this opportunity cools off. Share your summer moments in your mercedesbenz with us. I built my business with passion. But i keep it growing by making every dollar count. Thats why i have the spark cash card from capital one. I earn unlimited 2 cash back on everything i buy for my studio. And that unlimited 2 cash back from spark means thousands of dollars each year going back into my business. Thats huge for my bottom line. Whats in your wallet . Whoa what are you doing . Putting on a movie. Im trying to watch the game here. Look i need this right now ok . Come on i dont want to watch that. Too bad this is happening. Fine, what if i just put up the x1 sports app right here. Ah jeez its so close. He just loves her so much. Do it. Come on. Do it. Come on yes awww, yes that is what im talking about. Baby. Call and upgrade to get x1 today. Welcome back. Taking a look how we did finish the session on wall street. Digesting that jobs report. Also with anxieties about this referendum in greece this weekend. Index is lower but just slightly. Dow down 27 points to 17,730. Its been a tough week for these indexes. S p down a point and nasdaq down about four. Remember last weeks investigation into whole foods for overcharging customers in new York City Stores . The top two executives are taking responsibility for the mishap. In a video released yesterday, walter robb and john mackey issued an apology and discussed changes the organic chain is planning. Straight up we made some mistakes. We want to own that and tell what you we are doing about it. Most importantly, we are going to increase our training in our new york stores and around the country. We want to be perfect in this area. We dont want there to be any mistakes. If is there a mistake, its not in your favorite we promise to give you that item for free. Joining us is the ceo of apple metro. What is your reaction to first the denial by niece executethese executives . I think the mea culpa was the prudent thing to do. It i think its much ado about nothing. We have 39 restaurants. Its hard for me to stay up on top of 39 different managers all the time. If it was you always look at motive. If money was being upstreamed through Corporate Headquarters or finding its way into somebodys pocket, you would say it was intentional. The fact its a couple of outliers and people were careless, if you will. Airlines are classical. That would appear to be clear it was corporately motivated. But a couple of restaurants in new york . Its an iconic brand with a Loyal Consumer base. Almost cultlike following. Much ado about nothing. Kayla, would you agree . The interesting thing it was yes, new york city but also because new york city noticed it decided to look into it and run a sting operation to prove they were doing this systemically. The reason i think its gotten the attention it has because whole foods is launching a lowcost option. Its been a lightning rod about discussions. People call it whole paycheck because items are so expensive. Some people read this article and saw the video and want ded the company. Its not like the company said its apologizing for markups but an honest mistake. I agree with zain you have to look at motive. It doesnt appear to be something the company or employees were doing on purpose. That being said i wonder if they need to go a step further and issue a 20 off coupon for people who shop at new York City Stores or Something Like that to help people feel like they are making up for the costs that may have been incurred. I agree with that. Walter i wonder if this werent whole foods, if it were kroger or middleincome aimed or Discount Grocery chains this would have been a much bigger deal. Is it because whole Foods Customer can absorb the cost of 18 almonds already . Whole food has a brand. You feel good about whole foods. Theyve got to protect that brand image. Something you said a moment ago. Out here im going to Say Something that makes me unpopular. Talking about government regulation being awful and government inspection. They said we should get rid of usda and food inspection but every now and then you want people to know we are checking up for the consumers. I think giving a coupon away is a good idea its prudent. Its not necessary. The whole food consumer i believe, believes this was not an intentional thing. I did a little motherinlaw research before i came on and asked my motherinlaw what she thought. She thought it was no problem. Thats the authority on these matters. Thanks for joining us appreciate it. Not at all. Does gender matter in Silicon Valley . Women hold top jobs in some of the biggest names in tech. My next guest says there is still a big gender equality gap in the business and how it can be fixed. Check out my new super suit. It doesnt give me super powers. You feel the physical effects of aging. More and more, data is visual. In fact, the number of mris has increased by ten percent a year. And a radiologist might view a thousand images to find one tiny abnormality in shape, contrast or movement. Because its so challenging a Research Project is teaching ibm watson to see. In the future, it could help clinicians spot key patterns quickly and precisely. Ibm watson is working to make healthcare smarter every day. Welcome back. We are live in aspen today at the aspen ideas festival. My next guest has been a trailblazer bridge the gap between gender equality and bridging the gap. Helping people find digital work. Lala welcome. Great to see you. Throughout the show we were saying you were upset with some of the comments Marissa Mayer made. She was asked about being a woman in tech and said its not about being a woman in tech its about doing the work. You get where marissa is coming from. She was trying to deflect interest in being a woman and focus on running yahoo. This is not to criticize marissa. But there are major gender biasses that play in Silicon Valley and beyond. I am most concerned what they mean for the lowest income among us. You were saying in your own personal experience you felt how would you put it . I think a number of women who are executives in Silicon Valley felt ostracized belittled, felt victimized by paternalistic remarks. That said, i do think its changing. I think one of the best ways to achieve some of the changes we are fighting for is to look at the policy level of things we can do to make it easier for women to achieve equal pay and equal work opportunity. One of those things is childcare. Ive been a pioneer in the sharing economy. What youve done importantly over many different generations is use it to help the least powerful among us. Not just women, but poor. How want key do more of that as opposed to the Way Technology seems to be going, which is exacerbating the divide between the powerful and less powerful . Absolutely. There is no doubt among experts in Silicon Valley and economists that technology is increasing income inequality and allowing more gains to go to people the a the top. Its reducing the need for more and more people. A report said in the next 20 years about 50 of the jobs americans do can be automated. We have a Training Program that lastsen to weeks and costs third of the next competitor. We train low income people to be successful in a digital economy. What that means is we teach how to set up profiles on task rabbit, upwork, which paid out 1. 8 billion to contractors over the last decade. We make sure people who make less than the federal poverty line, less than 23,000 a year for family of four they get access to that work force training. Unfortunately, that is lacking. Its a fascinating point. How do you get people involved in these opportunities the new economy is creating. Samasource sama usa, sama hope. Do you have a vision for this company of what you are ultimately trying to achieve here . Where is this going . Absolutely we have different programs underneath that. We started International Work six years ago and lifted 27,000 people out of poverty. These are people who typically receive aid from programs provided by usaid. Our boot camp trained about 600 people across the states in these new online work skills. You can think of it as one of our workers who is a single mom in the Central Valley in california, went through our training. She had been unemployed four years. She went through our program and found a job making 4,000 a month for a new york based firm that hired her as a virtual assistant. I remember meeting you, you went into new orleans what did you learn overseas that helped us . We worked in rural arkansas. Ive seen parts of our rural American South much worse off than any other place in america that resemble africa. Way learned most this is Digital Divide is not between rich countries and poor countries but rich people and poor people in our own country. Please come back. Move over ironman, captain america. Why dont you just try climbing a rope . Oh gosh. I cant even extend my arms. Instead of feeling invincible that makes the wearer feel 50 years older. I wear a suit to gain perspective on aging and prospect of longterm care. Mindfulness in the work place credited for im success. Goldie hawn joins me on set. If you cant stand the heat, get off the test track. Get the mercedesbenz youve been burning for at the summer event, going on now at your authorized mercedesbenz dealer. Hurry, before this opportunity cools off. Share your summer moments in your mercedesbenz with us. Verizon say neversettle. Tmobile agrees. Never settle for verizons overpriced gimmicks. Try the uncarrier riskfree for 14 days youll love it, or well pay for you to go back. charge music you wouldnt hire an organist without hearing them first. Charge so why would you invest without checking brokercheck . Check your broker with brokercheck. We heard it before. Americans are not saving enough for retirement. Jennifer rosenbaum and her people have given people a creative way to go face to face with the reality of their retirement. This is the ageing experience suit. It is meant to be a tool to educate younger generations on the effects of ages and to create empathy. Im going to be putting it on in a second. Jake is wearing it and were going to swap. What should i expect. Jake why dont you turn around . You see the exoskeleton. We can manipulate the joins in blue and when theyre red, you will see joint restriction. I think im ready, lets do it. Here we go all right. Is this what astronauts feel. They feel weightless and you feel heavier. I feel a lot heavyier. As you age, you have muscle loss and you gain about 20 to 30 pounds. Thats the effect of it. If you were to have the helmet on you would see the visual and hearing impairments like glaucoma and tunnel vision or cater other problems. You are blue there is no restrictions so why dont you try climbing a rope. This is what most people but not 100 but you can see what it would be like to just do simple every day tasks around your house. Wow, oh my gosh i almost feel paralyzed. Does this create a sense of there are some days i felt like this. Im just thinking about my grandfather who had a hip replacement. Man, what a trooper. Thanks again to Genworth Financial and jennifer rosenbaum. Didnt you do Something Like this similar in the past . Similar, but it was an app that merrill edge put out where they age your appearance. You got to just put on the suit now i have to live with this image of myself in a youre looking at that is fairly unsavory unsavory. Did it make you think about saving for retirement or saving for a hip or Knee Replacement . That stuff is expensive. The reason theyre doing this is longterm Care Insurance didnt make it through obama care. So people have to figure out how will i fund myself. Long story short, i never bounded up the steps to quickly as i did after i took it off. It makes you realize the importance of staying active. I think there is something to be said for scaring somebody straight. You certainly had good dance moves there doing the robot. Walter what do you think . I think the intersection of technology personal health and wearables is starting to really explode. It is fun to see a whole body suit. Okay, here is what you have to do for your knee . Youre about to get arthritis. So im hoping technology will help pave the way. I imagine in the years to come that is exactly what we will be seeing. Were going to take a quick break, we might be having a discussion about mindfulness with a certain somebody that knows quite a lot about it. Actress goldie hawn will join us. Those who have served our nation have earned the very best service in return. Usaa. We know what it means to serve. Get an Auto Insurance quote and see why 92 of our members plan to stay for life. When youre not confident you have complete visibility into your business, it can quickly become the only thing you think about. Thats where at t can help. With Innovative Solutions that connect machines and people. To keep your internet of things insync, in realtime. Leaving you free to focus on what matters most. Here at Td Ameritrade, they work hard. Wow, that was random. Random . No its all about understanding patterns like the mail guy at 3 12 every day or jerry, getting dumped every third tuesday. This happens every third tuesday. We have Pattern Recognition Technology on any chart, plus over 300 customizable studies to help you anticipate potential price movement. Theres no way to predict that. For all the confidence you need. Td ameritrade. You got this. Trading the internet. Are twitter and yelp ready to soar . Where investors are making their biggest moves. Earlier this week on closing bell, we shared a study about how Many Americans are feeling burned out in the office. The next guest is trying to promote mindfulness as a key ingredient in fulfillment, goldie hawn along with Walter Isaacson. This is great, thank you very much, it has been rch. The festival is unbelievable. Give us some examples of how this has changed lives and offices. This is a reality that i want to work with children. Working with executives is important, but for the most part our trajectory is children. This will change the world and we want to give them these tools to measure their reactivity emotional construct, and they learn about their brain. That is what is different. Its not just mindfulness, its how the brain works. Isnt there just a movie from pixar . Yes, 12 years ago when i put this in schools, people looked at me like i had 12 heads. Now pixar is helping with the movie to teach children about their brain and emotions. How does it affect Overall Health . I think Overall Health has to do with stress factor. If children know how to destress themselves which theyre learning to do in the class room, thats what makes a difference. Health is an interesting thing. Its about self care, self love, forgiveness, and taking away the stresses of your life and having modalities in which to do it. Cortisol has a limit. Its a lot, goldie that you have been doing and i think drawing on your own experience to get through some of your amazing successes as well. Are you a big netflix fan . Do you like all of the changes with the new technology thats happened . I love it. Its a wonderful new stream of technology. I think it is changing everything. It is giving everyone a different kind of voice. We need to have that that is what america is about. Im thrilled about it. It could not be happening in a better way. Goldie thank you for joining us walter thank you, its great to be out here. Its time for fast money. Le. The nasdaq marks overlooking new york citys time square. Take a look at these leaked photos of the brand new iphone that are rocking the iphone but what its not showing that has apple investors excited. And protecting your portfolio