disclosure, nbc universal does own a stake in snap. blue apron are getting hit the stock is down 20% since the debut in late june a sign of trouble for companies looking to go public or not? let's bring in eric gordon business pro fet fessor whose focus is on ipos happy friday you to both eric, i think your larger point about snap anyway is in a it highlights the degree of difficulty when you were forced to compete with the likes of a facebook >> yeah. you know, it's great that snap is an innovator. the question is, can you be an innovator that makes money in the face of somebody who can imitate your innovation. i mean it's an innovation. but it's not all that hard to do somebody with a lot of money and a giant user base, user base being sort of the source of your revenue, you have to compete with them. i mean, can you actually do it >> i'm wonlderidering is how mua resetting of the expectations of how great the companies r people are talking is snap the next facebook or at which timer maybe it's just kind of snap it's a pretty good business. i look back at box box ipo was in the mid 20s near the mid 20s i believe still hasn't recaptured that level. it's been a couple years i think people are feeling better about it. might we enter that space with some of these names like blue apron, et cetera that, are disappointing now? >> at a price, it always happens that way if it gets down low enough and basically the fundamentals can support. that i think you're on to something in the sense of i think a lot of the companies suffer for the familiarity we have with them and the hype attached to them before they come public. you have that and the high private market valuations combined with, you know, i think there is a sense out there that because not every company has to come public, there is a little bit of suspicion attached to the ones that insist on becoming public you must need the money. why do you need the money? i think blue apron might have suffered from. that. >> they say it's not the end game it is just another mild stone in our long history as a company. but, eric, to mike's point, the hype doesn't begin when they go public the hype begins in the private market so where does the correction need to happen there, at what stage? and is that actually happening so far as can you tell >> no, not yet and that is baeshiearish stocks. you get those that are not all that experienced, they come in and do a later round at, you know, $3 billion valuation blue apron goes out at $2 billion. you live and you die by the hype so that is not helping but at the bottom, you have to ask what kind of company do you really have mean how do you value blue apron? it was hyped as a tech company it's a tech company like dominos is a tech company. they deliver boxes and ingredients. they use some technology, every company uses technology. so i think there has to be an expectation and a framing reset all the way up and down the ladder >> eric, i know you've looked at sort of the lead underwriters for snap in this case goldman and morgan stanley and then the speed with which the sell side of those firms turns and down grades. how common is that >> with morgue an stanley, they famously did it even high torte ipo at facebook. but you have to scratch your head and wonder, you are on the inside of the due diligence process. anybody who's gone public knows the due diligence process is really painful i mean they want to check to make sure your shoe size is a shoe size you claim it is. how can they have done that? and a few months later say, oh, well, you know, now we're changing our expectations. i mean, what happened in the due diligence process? it's not the first time. but when it happens, it mystifies me because i have been in the due diligence process >> mike, eric mentions that dominos is not necessarily a tech company but, you know, it sure looks like one stark chart wise compared to others in terms of logistics. i wonder how much should investors be thinking past the hype and thinking what is the true fundamental value of what they're doing. on facebook when it hit $19, maybe i should buy it here despite the fact that it's well off the ipo price. what is the real way investors should be thinking about the value of these companies to the extent that there isn't? >> facebook had already demonstrated the profitability of the business model. the question is what value -- >> mobile was going to kill them. >> right >> you had six months of complete panic about that. and then in retrospect, it looks obvious. i don't think it's ever obvious at the moment they're about to take off like. that i think when it comes to a blue apron, i think that it's not just a question of what business are they really in and can they succeed it shows me that a lot of the startups, they're up to the hard problems now you know it's not as if it's like this effortless network that facebook has set up that just couldn't help the money coming if if they tried. >> your jump on the facebook train? >> network effects that's all also, it's investor preference you talk about the analyst downgrading things, that tells what you the investors are willing and unwilling to listen to right now i think that basically tells you what's winning in this market right now? the acknowledged dominant companies like facebook, like alphabet not the upstarts. >> what was winning for a time, eric, is scarcity. people were buying ipos just because there weren't many of them f you're a roku or drop box and this is obviously farther away and farther afield from these companies, but saudiaramco. are you buying the stocks because you believe in the thesis of the company or buying them because you need have a little bit of ipo in your portfolio? >> it's a little of each you're searching for yields. you're not getting yield anywhere else. you don't want to be left out. how come you didn't get a piece of it? there is a psychological thing i think the point is just made is a big point you really have to ask how is this business going to make money? you look at a blue apron, it turns out that they're now at a phase -- at the phase where they're going backwards. it costs them more to bring in each new customer, not less. existing customers are using blue apron less than they used to this is not something you grow out of they're growing into bigger losses and you have to ask the same thing about something like snap. are they going to grow out of their losses or is the underlying business one where they're going to have to spend more and more money to battle facebook and end up retreating into being some kind of smaller company that competes elsewhere. you know, some companies like facebook made sense because you can figure out how they're going to make more money as they get bigger some companies you think as they get bigger seems like they're going to lose more money not make more money. >> yeah. well facebook went through the own crucible it took a long time to get above that ipo price we'll see if snap or apron have -- >> as a group, ipos are doing okay it's the harrelled ones that have not been. you want to talk about carvana >> yeah. >> tech ipo thz year are up 18%. they're doing fine but about a third of this year's ipos are below water you have to be pretty select >> eric, thank you good discussion. both apron and snap within a few cents of their lows for the year, guys thanks so much the allen & company conference in sun valley is where sports ceos gather to talk about the future of their industry we're watching that. what a week it's been, julia >> what a week it's been, carl now the nfl commissioner and several nfl team owners are here in sun valley. they're talking about the upcoming season and also talking about the fact that they're coming off a 9% decline in regular season ratings last year now roger goodell told us the league is working to cut down on ad breaks, make them slightly longer to help keep viewers more engaged. >> one of our big efforts is to try to make sure that we make the experience whether you're watchinging on television nor our stadiums make it a more compelling experience for our fans and that means trying to do less breaks trying to maek suke sure that we not overcommercializing, trying to find times that we can take down time out of the game and make the game -- focus on action which is what the fans want. >> goodell told us he is excited about the new deal to stream 10 thursday night nfl games on amazon prime cbs ceo who broadcasts half of the games that will be on amazon told us that he's not concerned about amazon eating into his ratings. but we're certainly hearing a lot here from ceos about amazon and facebook both making a big push into premium content which, of course, includes sports. iac ceo tells us that facebook has the scale to pose a huge threat to traditional media. >> they know what people want and they know what people like and they can get faster data than anybody on earth. so it's hard to bet against them in that area but i don't know the content game is very different than the platform game and the technology game. >> we'll hear more about how amazon and facebook are shaking up sports and content coming up in "power lunch. guys, back to you. >> all right jewel yash julia, thanks. jeff bezos is getting attention in the confidence. drudge posted this photo calling him the bionic man asking if their too big and if they'll step in. he added some muscle mass as we talked about this morning. >> i like how we're checking out male ceos now. i that i is only fair. tim cook also lost about 20 pounts to be fair, mark zuckerberg looking jack don't feel self conscious, jeff base yoes trying to keep up. he's facing challenges from apple and other governments. of course, you see google, alphabet, facing challenges with the eu right now we have multiple titan that's established themselves and spaces but i think increasingly we're seeing the headlines from competitors and governments questioning is there something wrong here >> amazon and google for a long time, too, had been safe from government scrutiny or intervention because they grew organically. now that is changing for amazon. >> although, the other argument is that amazon is deflation airy, sfligt so what is anti-trust if it's not creating price inflation? that's another -- or eventually that could change. but that's a big argument in anti-trust circles right now. >> there are lots of organic goods in whole foods i think even the concern that these are -- these companies are so big and so dominant that governments might reinvent the rules in order to somehow put shackles on them is that something that investors can possibly price in? i don't know i mean we're kind of in unchartered territory when it comes to this sort of thing. >> meanwhile, people trying to get their heads around what amazon might be after next theories continue to irculate. pharma, furniture, real estate advisory services. it's been about a month now since the amazon-whole foods deal was announced and in that time grocers, other grocers continue to see pretty good price appreciation. >> if you can offer anything product to the consumer at a cheaper price than they're getting it from somewhere else, i think it doesn't really matter who the vendor is at that point. >> i'm allergic to the hype though it's like all of amazon is google x dhe do anything. they can't do everything >> right as goldman sachs points out in their walmart upgrade today. >> and the department of transportation out with airlines, the airlines report card our phil lebeau is in chicago with that. >> it was a bumpy month for airlines for you look at the flights that landed on time, 79%, down from 83% in may of last year. here's where the airlines that did the best, hawaiian, dealt yashgs alaska, skywest and united those are the top five airlines who struggled relative to these guys terms of on time performance the month of may we see a number of the airlines tend to be at the bottom expressjet, frontier, spirit, jetblue, virgin america. yes, they're being folded into alaska but just 58% of their flights landed on time one note about the on time arrivals, in the month of may, there were 27 flights that had tarmac delays where people sat on the tarmac for greater than three hours. that's a large number for any month since they instituted the new rules. and with regards to complaints, remember in, april there was a big surge in the number of complaints from people filed with the dot -- they filed with the d.o.t. well, there is still an increase in the number of complaints for may, not as much as april. but a surge of 56% in the number of complaints filed against airlines most of those complaints having to do with service, reservations, bookings, et cetera down slightly from april but still a big month for complaints guys, back to you. >> phil, thank you for that. when we come back, the banks beating the street better than expected results strong words from jamie diamond. ow amazon is sparking construction in 21st century boom towns disney's plans for a new theme park i think you want to drive the millennium falcon? we'll tell you how you can when "squawk alley" comes back. at fidelity, trades are now just $4.95. we cut the price of trades to give investors even more value. and at $4.95, you can trade with a clear advantage. fidelity, where smarter investors will always be. and at $4.95, you can trade with a clear advantage. if only the signs were as obvious when you trade. fidelity's 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. welcome back jp morgan, wells out with earnings before the bell it wasn't in the the conference calls that fireworks started we're tracking the action. pretty interesting commentary from jamie diamond >> it was. but we should put the fireworks in perspective jamie dimon kmenldcommended the resilience of the economy despite various significant obstacles. >> we have become one of the most bureaucratic confusing litigious societies on the plan it it is almost embarrassing listening to what we have to deal with in this country. >> he said there were lessons to be learned from france, argentina, india and china >> every single one of those countries understands that practical policies promote business and growth is good for the average citizens of those countries for jobs and wages and somehow this great american free enterprise system we no longer get it. >> he said that there have been a sea change in the environment in the eu since the election of president macron in france who he praised but crucially on the u.s. overall, he was upbeat saying, "if gridlock goes away, we'll grow faster. but if it continues, we won't grow slower. the bank stocks today are down despite earnings beats j.p. morgan because net interest income disappointed. wells fargo because loan growth disain't pod and citi along with the other two because they're recent share price performance had already been strong. >> all right thank you so much for wrapping it up. let's look at j.p. and wells and citi we have anabli analyst with us baird equity it reminds me a little bit of the commentary during the obama administration when the bank was targeted with lots of fines, lots of scrutiny and lots of regulation do you think there's a risk of retaliation now that he's spoken out against the gridlock in washington >> good morning. thanks for having me on. yeah, it's a good question no i don't and i'm not really concerned about retaliation. i think i don't want to touch the politics of it i think this is just a way for jamie to indirectly communicate with lawmakers to try and get off the dime and get things done >> so what do you think would benefit this sector the most in term of policy >> well, from a policy perspective, we've already started to see some of the benefits from a little bit more liberal view of being able to return capital i think some relief on liquidity rules would help the biggest banks. probably the biggest benefit is tax and infrastructure and most notably tax. not only would it have a direct impact on the bank sector, the banks have the highest tax rate in the s&p 500 at about 30% to 31%, there would also likely be a multiplier effect in terms of its positive impact on the business -- the business community and the economy overall. >> and loan growth we've repeatedly heard that banks aren't lending, there is a cloud over the banks from regulation is that easing a bit if it is, why haven't we seen stronger loan growth that not only meets but exceeds expectations >> there is a lot of just, i think, misinformation with respect to loan growth and demand and so forth. bank loan growth for the last three years has averaged between 6% and 8%. and that's at a clip that's three to four times gdp in the u.s. loan growth has actually been quite strong and banks are very willing to lend to qualify borrowers. i think we're on a situation today where loan growth has slowed a lot particularly in the commercial sector and it's really a demand function rather than banks willingness to lend. companies borrowed a lot of money to buy back their own stock. now we're of the view that loan growth is going to remain relatively subdued in the 3% area >> david, have we turned a corner culturally, you think, when it comes to the banks in the u.s. and how people feel about them as recently as the fall both on the democrat and republican sides there was a lot of criticism coming in for the big banks, the likes of goldman sachs. now certainly the trump administrationembracing banker and jamie dimon feels comfortable saying some of the things that he said this morning. should we take something broader away from that >> no, i don't think so i mean, banks have never been especially popular just going back many, many ecades and every time there is a crisis, someone gets the blame and the banking industry unfortunately is just a convenient punching bag for those that are looking for someone to blame so i think politically i don't think it's really relevant from an investment perspective. but i'm not sure that banks will ever be viewed extremely positively by politicians and citizens overall >> david, how much upside is on the roe for at least jpm 12% is a number a lot of people thought we would never see again. >> that's a good question. it was a very good kind of return and quarter for jpm one thing jpm can do on the order of 14%, i think there is a reasonable target at the peak. we think the stock largely reflects that. you mentioned the valuation that jpm is at, 2006 levels and reflects a lot of optimism great company g quarter. we think it's largely baked in the stock here >> finally, david, banks have been the destination of a lot of the rotation in the market of late do you think that with today's move that's over because every single day it seems headline has been the market is up thanks to financials >> we think it is. you know, it's hard to kind of have the perfect timing. but we thought the setup for these banks going into earnings was not good as you mentioned, this is really been a consensus long or very popular trade being long financials particularly post the election we think there's just a lot of optimism baked in. clearly, there is a lot of good fundamental things and the industry is in great shape financially and capital and liquiditywise. unfortunately, we're sitting at relatively peakish valuations and today's cpi print says that fed may be on hold we'll obviously see. >> we'll see what tone this sets for the rest of earnings season. david george, appreciate it. >> thank you still to come, one analyst lays out the case for f.a.n.g. stocks dow is back close to the flat line up four points what if we pull customer insights from the data in real time? wait, our data center and our clouds can't connect? michael, can we get this data to...? look at me...look at me... look at me... you used to be the "yes" guy. what happened to that guy? legacy technology can handcuff any company. but "yes" is here. so, you're saying we can cut delivery time? yeah. with help from hpe, we can finally work the way we want to. with the right mix of hybrid it, everything computes. i enjoy the fresher things in life. fresh towels. fresh soaps. and of course, tripadvisor's freshest, lowest prices. so if you're anything like me... ...you'll want to check tripadvisor. we now instantly compare prices from over 200 booking sites... ...to find you the lowest price... ...on the hotel you want. go on, try something fresh. tripadvisor. the latest reviews. the lowest prices. the nasdaq closing out in the week positive and amazon hovering around $1,000 a share earnings beginning next week netflix is out on monday denny fish is portfolio manage we are janice capital. victor anthony is with egis capital. both join thus morning good morning to both of you. >> good morning. >> victor, which do you see as the more likely story line out of this earnings is it upside for the earnings that we expect to see or possible ris inco possible risk in the guidance? >> up side to earnings i'm not concerned about guidance all the checks are coming back for google and search and facebook, social media ad spend. amazon, all of the businesses are operating phenomenally well. so checks are coming back positive the second quarter numbers will be good for all three of the names i mentioned. i think the guidance will be good for all of them amazon, they guide conservatively investors are aware of that. i expect a conservative guide. but i think that is okay they guide below consensus anyway and outperform the following quarter. >> denny, it seems like expectations are healthy given where many of these stocks are trading either at or near all time highs what are the key things that you expect on these earnings calls and with the results to move the needle one way or the other? >> i think looking at the valuation and even though the stocks are at all time highs, if you look at the relative valuations of the names, you know, alphabet and facebook, for example, and you compare them to, say, consumer staples names and you just look out year and a half to two years, the multiples are actually in line and so i think, you know this earnings season is just a continuation of what we've seen for the last call it 18 months where the secular dynamics are really strong. and we just see a continuation that i expect a reasonably healthy earnings season. reasonable guidance and effectively a steady drum beat of what we've seen over the last year and a half or so. >> victor, facebook has been turning in some monster quarters lately we've seen them really pull away i remember we used to talk about facebook and twitter now just talk about facebook even snap, you know, not looking so strong growth wise. what do you expect to be the attention for that sort of company? that class of company snt facebook, amazon, netflix? is there a certain funneldamentl numbers that are going to drive how they feel about the jugger knots? >> i think fable in particular will face on the advertising growth revenue number. i think it will be a peak determinent factor in whether or not the stock continues to run it's had an impressive run so far. it is still trading at a discount to the growth rate over the next three years grosses is 14 times the multiple it is still trading at a discounted growth. i think for the stock to outperform, they need to excel revenue growth and healthy usage numbers. so that's with facebook. google, i expect the same. strong top line growth rate. searches resill yenlt and healthy in the face of competition from social media. youtube continues to grow like weeds for all the data i'm looking at it is unphased by the ad backlash recently. then you have the option and the cloud services business which is growing very, very strong for them so i think they'll turn in very, very strong quarter. for these stocks since they've had such a strong, strong upside so far this year, amazon and facebook in particular not so much google, you need reacceleration of revenue growth for the stocks to continue to outperform significantly over the next six months. >> reacceleration of revenue growth at this size, victor, i mean, is that something you're counting on? do you think it's likely >> i think it's possible for facebook i think it's possible for amazon and the data i've been looking at and tracking data that shows a very healthy usage trends for facebook, staingram, amazon google is less likely. i still like the stock it's a cheap multiple stock. it hasn't really appreciated much then you have a business that like i said, search, youtube, they're strong growers for them. good management team and governance solid balance sheet. multiple different avenues and continue to groechlt you have the option on moon shots i think they're risk manageable. i think the eu fine is g they may appeal it, they may not f they do, it's not a big deal i think that goes on so that's the one company i think i would invest in longer term if i were to pick one out of the three given some of the secular dynamics the other two, very, very good companies. these are companies that transformed the way we communicate and transform the way we search for things and shop can you not go wrong for owning any of the names even though they appreciated so much >> denny, what is the smart way for the rest of the year for investors to think about the cloud and where to put their money? amazon had a disappointing cloud quarter in the most recent quarter. oracle had a lot of upside in the cloud. we expect microsoft's numbers at the end of next week how should investors think about it >> yeah. i actually think there are a number of ways to think about the cloud and just to put context around the numbers, what is important with that, they may have been just slightly disappointing that, is in the face of actually price cuts that were absorbed as well. you actually work through the numbers and you think about the scale of that business, the numbers continue to be really, really impressive out of amazon. i think they're multiple ways can you play the cloud just not the cloud but also this digital subscription business mix that we're seeing across a number of sectors that is cloud enabled. so you can look to -- you know, we talk about the big names, google, facebook, amazon that all are actually, you know, reasonably valued if you look at the right metrics. can you look at salesforce.com, microsoft has a really nice cloud transition that is occurring in the business. and it has a reasonable valuation relative to some of the other sectors in the market. you can even look at other sectors that are cloud enabled video game industry is going under, you know, significant transition activision is going through. that can you look at the big headline cloud names and there are a tremendous number of investment opportunities in the broader market that we're looking at >> all right we, of course, will be washibe of that. >> europe closed about three minutes ago. seema is here at post nine >> happy friday. take a look at european stocks relatively steady in today's session. they did post the best week in two months janet yellen's testimony sparking a global rally. easing concerns over slowing inflation. this is ahead of the meeting thursday check out the european financials though at the loefz the session in reaction to those earnings from u.s. financials. j.p. morgan, citi, wells fargo, they have recouped the losses. european banks ending in negative territory keep in mind, europe's banks are still outperforming the broader market with an 11% gain compared with a 7% rise for the stock 600 as rates rise. margins have been picking up in europe plus, we've been seeing more m & a. that helps the european banking story. european bonds have been receiving a little bit of buying check out the currency this is so interesting now at the highs of the year at 114 against the u.s. dollar. let's also talk about foreign policy president trump is on his way back to the united states after visiting france and meeting with the country's president macron the upbeat tone and ability to some some of their difference as side caught many by surprise hours ago trump tweeted he had great conversations with macron on trade, military and security. macron said trump's presence alt his side is a sign of an enduring friendship between the united states and france carl, the two leaders engaged in a long hand shake as we've seen him do with many other leaders 25 seconds in case you're wonldering. >> yes the body language analysis continues, seema thank you. let's get over to h.q. this morning. we have a news update. >> here's what's happening at this hour. three palestinian assailants opened fire police inside a holy site killing two officers before being shot dead. amateur video here shows the events leading up to the shooting of one of the assailants millions of social security recipients can expect the biggest payment increase starting in january. that's according to projections released by the trustee who's oversee the program. the increase expected to be 2.2% or about $28 a month fiat price letter is recalling 1.3 million vehicles worldwide in two recalls one is to fix malfunctioning alternators that can cause engines to stall and the other is for a wiringing problem that can make air bags deploy unexpectedly it covers 2011 to 2015 and tim tebow is at it again. the new york mets minor leaguer hit a walkoff home run against the pitcher leading the notes a 5-4 victory. it was the first walkoff home run in professional baseball he is hitting .327 in 15 games with his team since being promoted i have to say, i'm rooting for him. he seems like a good guy let's get back over to "squawk alley". >> when we come back, details behind amazon's fulfillment centers and what some are calling the 21st century boom town dow up is 15 rick santelli, what are you watching today >> you know, you can sell so much by paying attention to bonds. you can tell about politicians, economics, central banks i'm not talking about these bonds. i'm talking about james bonds! all after the break. where to get in... where to get out. if only the signs were as obvious when you trade. fidelity's 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. bank stocks. they report earnings what stocks may be worth the risk to you? analysts making several big calls on retail saying enough is enough maybe time to get back in the game where have we heard that before? and market watcher tom lee is live us with he's identified one area where he sees some pretty great value. that's coming up at noon we're back after this. carl all right. brian. thank you very much. sure, we'll go to break. we'll see new a few minutes. let's get a quick market flash. >> that's right, shares are down 16% in early trading to day. the israeli based cybersecurity company issued a warning on its secretary quarter results after the bell yesterday the company pointing to performance in europe, the middle east and africa where certain anticipated deals did not close. stock is down 6% year to date. carl, back to you. >> i'll take it from, there leslie thank you. liz leslie picker. amazon's prime day this week is an indication of the enormous boom in e-commerce that is coming on the back of the construction of fulfillment centers across the country our reporter is live from tracy, california, town of 83,000 that's benefitting from that trend. >> that's right. hi there we are in tracy, california, about 70 miles from san francisco. and this is a magnet for fulfillment businesses take a look behind me. that is a huge crate & barrel fulfill ment center. there is one of two amazon distribution centers here. let's walk across the street across the way you can see that tan structure, that massive building is a pacific medical distribution center here. it's not just here this is one intersection in town, by the way take a look at a map of the u.s. and some of the other top hot spots across the country for the fulfill ment business. they include central jersey, lehigh valley, pennsylvania, and louisville, kentucky, to name a few. most of these are mid size cities that located right on the periphery of major mel poll tan areas where land and operating costs are cheaper and labor is ample. we actually took a drive here in tracy to check out some of the industrial sections of town. we noticed brands like fedex and safeway and medline. they set up shop here bringing jobs as well keep in mind, this area was best known for agriculture and food manufacturing back in the day. it was also known as a railroad town one expert tells me that fulfillment business has brought up to 10,000 jobs in the county alone over the last five years and that's actually prompted the city to come up with this drone video that you're looking at overhead look at some of the available land here to try to entice even more businesses to set up shop here as well now some critics say that fulfillment jobs are simply not high enough paying to support a whole family but the mayor tells me that they do still create economic value >> people that come to our jobs here in tracy are not just all for tracy but throughout the region and what that also does is, you know, it brings the people in tracy. it increases our day time population which in turn helps us attract more businesses like restaurants and retail and commercial >> he tells me that in the last quarter alone the sales revenues went up 35%. that's helped them build parks and improve infrastructure guys, back to you. >> and the other job that you'll see in those towns, i heard this from central new jersey residents, traffic cops. rush hour for the trucks is all day. thanks >> yep that's true. >> now let's get out to the santelli exchange. rick >> hi. it's been a long couple of weeks. sometimes the segment called the santelli xhanks we get down into the nitty-gritty of markets. we're going to take a little bit on the light side today. there is a lot of james bond movies out but never has anybody tried to fit james bond movies to get more knowledgeable about markets, politicians, central bankers. but i tried to do that with a select number of friends so call this the top nine answers for how bond movies make us smart better so many things coming in at nine, think about walking back comments from many central bankers over the years of course that, has to be moon raker. the other issue these days, well, e-mails. e-mails have been in the news now for a couple of years whether it's wikileaks or what happened during the elections. and i think there's a james bond movie that gives us some enlightenment there, "for your eyes only. when it comes to markets, people look up at the board mostly the mainstream economists and analysts and they look at the prices and they scratch their heads because in their opinion, it's "casino royal. but, this week janet yellen, two appearances, left side of the aisle, right side of the aisle what was the question that they always wanted to ask and the clue is, february of 2018. janet, are you going to be around for another term? and the answer is, "never say never. economists, they're predominent in the survey of my little group of friends because whether it's casino royal, when you look up at the market, here's the first thing they think of when they think of the markets there's got to be a "skyfall". there is no way this can keep going on you know, mario drogy moved the markets two weeks ago. what did he talk about an exit. what did he really think about "a specter." finally, you know, any of you out there, when all of this talk about "specter," "skyfall "oishgs casino royal" starts to be prevalent, the group and what direction do they aim? "gold market because they love "gold finger." finally, the top two answers are kind of a tie. think politics think mainstream media what do you think it is? "the spy who loved me," but the number one answer is, "from russia with love." kayla, back to you >> rick santelli with a unique santelli exchange today. i was hoping for "dr. no." maybe next time. >> most amazing dad joke i saw in one santelli exchange all right. coming up on "squawk alley," how a group of doctors is using technology to address one of the dilemmas facing health care today. "squawk alley" is back after this hundreds of dollars on youmy car insurance. saved me huh. i should take a closer look at geico... (dog panting) geico has a 97% customer satisfaction rating! and fast and friendly claims service. speaking of service? oooo, just out. it was in. out. in! out. in! what about now? that was our only shuttlecock. take a closer look at geico. great savings. and a whole lot more. with the health insurance debate raging in wash, what a group of doctors and entrepreneurs turned their attention to tackling the shortage of health care professionals across the professionals across the u.s with us is dr. alexi nazen, nomad ceo. welcome. great to have you at post nine >> great to be here to tell you a little bit about nomad >> you compete with the likes of amn health care. that company is publicly traded, just under a $2 billion market cap. how is your approach with technology different, perhaps more efficient than what they're offering >> sure, that's a great question so, as you know, there's just a huge shortage of doctors and nurses in the united states. and the way that probe has been traditionally solved is with these staffing agencies. it's a very cumbersome, very antiquated industry and no amount of solving that problem with cutting edge technology our approach is we cut out the broker, replace all of their functions with technology, cut out the red tape, cut out the cumbersome processes and the expense and allow for direct transparent interaction through our market place >> i mean, uber 4 has become sort of a cliche but in a sense, are you acting as a dispatcher, working between the hospitals and the doctors, putting the right professional in the right place >> in some case. we liken ourselves a little bit more to air bb&b. you're having someone come into your home or a doctor come into your hospital. we help with insurance, background checking, credentialing, payroll taxes, everything we take a very complex transaction and make it almost as simple as point, click, hire. and we've done that for the d doctor market. and just this week, we launched into the nurse market, as well >> what's penetration like and how deep can it get in terms of professionals or hospitals or both >> this is a huge problem in the u.s. there is a shortage of about 100,000 doctors in the u.s about 1 million nurses in the u.s. nearly every possible and clinic in the country uses these kinds of freelance doctors and nurses. there is a huge opportunity here it's a multi, multi-billion dollar market. for us, we're in 14 states for the doctor market. recently launching in california and texas. and this week we launched our nurse market in texas. but over the course of the next year or so, we'll be across the u.s. >> what's the incentive for a doctor or nurse to participate i've talked to friends who are need school who are accumulating a ton of debt and they say, it would be more lucrative for me to become a dermatologist or plastic surgeon to practice general medicine >> there's a lot of reasons why doctors and nurse participate in this kind of work. two really common categories are these young doctors coming out of med school or nurses coming out of nursing school, they have a lot of debt, they want to start a family, buy a house. doing this kind of free lance work pays a little bit better than doing full-time work as a doctor or nurse. and other people who like this kind of work are people nearing the end of their career. they love medicine, don't want to give it up, but don't want to practice 60 to 70 hours a week this flexibility that much of the gig economy allows is very attractive now in the health care world >> what's the minimum number of hours they have to work to participate on a weekly basis? >> there really are no minimums. so there are no actual minimums. practically, there are minimums right now. the system is so cumbersome, there's so much paperwork and the kind of brain image you have to go through to get one of these jobs, usually want a couple weeks' worth of work. with ours, you could take a job tomorrow for a few hours and the technology enables that. >> alexi, on the patient side, we have companies like one medical that are making my experience a little bit more efficient. i can book last minute and manage the experience on a phone. then on your end for the doctors and nurses and hospitals, you're working on that. what are the other pieces of major inefficiency that we have to tackle before we get to this kind of amazon-like level of efficiency, where people just love their medical experience? >> i love that question, wijohn because the real question in health care is it's just mired anyone efficiency. it's for every sector, for patients, for doctors, for nurses what we're tackling is the hundreds of billions of dollars worth of waste in the administrative side of health care so hiring, recruiting, insuring, credentialing, background checking, so, yeah, we want to fix the -- we're fixing the sort of admin side. the one medicals of the world are addressing the consumer experience, the patient experience, and of course there's the pay terrier side, te insurance side, which is a total mess, as we all know but the good news is that there's lots of innovators coming in trying to fix each of these different parts of the system >> one last question if a doctor is placed and makes a mistake, does liability spread to you do you share in that >> we make sure every doctor and nurse that goes into a situation is insured with malpractice insurance. first of all, we select outstanding doctors, we do, as i said, background chex and all that kind of stuff but mistakes are made and people have, you know, top-notch malpractice insurance through nomad. >> thank you, alexi. >> thank you >> ceo of nomad health still to come this morning, disney is doubling down on the force. details when squawk al l"squawk" comes back [ crickets chirping ] [ light music playing ] you've wished upon it all year, and now it's finally here. the mercedes-benz summer event is back, with incredible offers on the mercedes-benz you've always longed for. but hurry, these shooting stars fly by fast. lease the c300 for $399 a month at your local mercedes-benz dealer. mercedes-benz. the best or nothing. what in real time?stomer insights from the data wait, our data center and our clouds can't connect? michael, can we get this data to...? look at me...look at me... look at me... you used to be the "yes" guy. what happened to that guy? legacy technology can handcuff any company. but "yes" is here. so, you're saying we can cut delivery time? yeah. with help from hpe, we can finally work the way we want to. with the right mix of hybrid it, everything computes. welcome back to "squawk alley. i'm leslie picker. gold prices are higher after eweaker than expected u.s. inflation data that's lifting the gold miner's etf ticker, gdx, up nearly 2%. big components like barrick gold, new minnesota mining with, and goldcorp. are all up back over you, kala. disney offering a sneak peek of its "star wars" land modeled currently under development at theme parks in california but set to open in 2019. disney says the lands will transport guests to a neve never-before-seen planet one of the attractions lets guests take the control of of a millennium falcon on a customized secret mission. and thanks to jon fortt, i actually have seen that planet i had to buy a dvd player to watch them, but i did see them >> i am eternally grateful the problem they're going to have here is the 47-year-old dads hogging all of the stations throughout and the kids who want to get in. >> yeah, taking unilateral control. >> right there's no room for the kids here sorry. >> they need to make another one for the kids >> is 14 acres enough for something like this? skb >> i mean, the entire state would not be enough, but the danger of it is turning into a big comic-con. disney is brilliant at this kind of thing it's highly anticipated. my kids will be going several times once i check it out and make sure it's okay. >> and i wonder if this is going to have a separate ticket or if the in addition of this is going to increase ticket price s overall. >> ticket prices have been getting more expensive, although gas prices have been pretty stable, so getting there by car that be relatively easy. really quickly before we go, dow is up 15 points. we're watching the bid in some bank names coming off the lows of the session next week remains a huge week for earnings netflix, goldman, morgan stanley, csx, ibm. >> qualcomm, it will be interesting to see what they have to say about smartphone sales and profitability. >> and a cbo score and a senate vote on health care potentially next week, as well >> it's been nice having you >> fun trip down memory lane >> let's get over to brian sullivan and the half. thank you, carl, kala, and john welcome to the "halftime report," everybody happy friday i'm brian sullivan in for scott wapner your top trade today do you buy the banks now or wait for a better opportunity with us for the hour, jim leventhal, josh brown, sirott seti, and also here, tom lee and finally, from lake joseph, canada, mr. wonderful, kevin o'leary, chair of oshares etf investments. somehow he brought a billboard to a lake. the sector is well off its lows but ro

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