>> jimmy, are you the jurussell? >> i think mike santoli is right on. >> jason? >> caterpillar. margins are improving drastically. >> s&p 500 is holding quite nicely, above 5-k. i'll see you as we take you through it on "closing bell." i'm brian in for kelly once again. here's what's ahead. it's been a big week for semiconductor stocks. there's one name that may not be getting all the attention from wall street, but it is getting lots of loves from our market guest. he'll name it and tell us why. could we be in for a spring selling season surprise? yes, says real estate broker and tv star. he is here with the trends he is seeing. a special three buys and a bail, super bowl style. we're talking streaming,

snacking, and of course, boozing, because we're counting down to the big game. all of that is ahead. as always, let's begin with the markets and dominic chu and how we're looking. >> a record high in the s&p 500. stop me if you have heard this before. we're sitting at 5,018. up one half of 1%, and let me put a little star over here. record highs for the s&p 500, the dow industrial down about one quarter of 1%, about 79 points to 38,643. and the nasdaq, that tech trade continues to just motor and motor and motor. the nasdaq composite at 15,971. that's up 178 points, or north of 1% gapes there. so massive moves there, related to technology mostly. one other place is what's happening with bitcoin and crypt

o currency. bitcoin prices have seen a nice little surge over the last five to seven days. we may recall that back on january 11th, we did get above 49,000 briefly for bitcoin prices. on an intraday bases, we're still a couple thousand dollars away from there. but watch bitcoin prices and some of the stocks tied to it. and i mentioned that outperformance in the tech trade. a slew of the names out there are making only record highs today, including microsoft for one. but also check out the one-year charts on nvidia, applied materials, and the smh, which is the semiconductor etf. every one of those stocks has been up over the course of the last year. nvidia is a huge part of that story. each of these gets a star, as well. applied materials, nvidia, and that etf all made record highs today. just look at those performances over the last year. the blue line stands out, bri. i know you have a lot more

coming up on that. >> you made the chicago flag inadvertently with the colors and the stars. >> i needed them to be red at some point. >> chicago is amazing. my wife's from chicago. we love chicago. not in the winter. dom chu, thank you very much. despite the big gains in the semiconductor trade, my next guest says he's finding value in certain parts of the market. join us now is the chief investment officer of the bodson group. david, good to have you on "the exchange." texas instruments, it does not get a lot of love. it's been around forever, just sits there outside of dallas and does it thing. why are you interested in this name? >> that's the exact reason why. we love names that are not fully understood, people are not paying attention to, and as a market level beta, it isn't way above market beta like most of these names. it's trading at 22 times

earnings, not 60 times earnings, and most importantly, it's a big dividend grower. we run over $5 billion in dividend growth, that is our key strategy. texas instruments is a heck of a dividend grower. why are they able to do that? they grow their free cash flow. it's just a more attractive way to play that space. >> is there business mixed, david? is it their valuation kind of the fact that, as we both alluded to, they don't get a lot of attention or maybe, d, all of the above. >> it is d, all of the above. and the fact that it came back a little bit last year. when we entered the name, it had come down about $20 a share, so we liked the fact that we had a more attractive entry point. but you have a 3.3% diffevidend yield and they're growing that at 8% a year and it's a wonderful way to play the

sector. >> i saw david simon, who does not do a lot of interviews at all, the founder and ceo of simon property group, along with jim on "mad money" the other night. a fascinating interview, because despite the talk about retail woes, simon property group is like 96% full. they tend to have high-end malls. and now they have this international expansion. simon, even with all the concern about retail and commercial real estate, is a thamname that you . >> we have owned it for years. texas instruments is a newer name. simon property we have owned a long time. they're 94.6% occupied to be precise, and new leases are averaging 7% rent growth over the prior year. they have a phenomenally run company. they own higher-end malls, and where there has been trouble, they have over and over again been able to repurpose some of the brick and mortar, some of the real estate. they own great assets. i just think simon property was

largely misunderstood. here you are talking about now a 5.5% yield. but we're getting over 20% per year, cash on cash, for when we first entered the name, because of the ongoing dividend growth. and they are basically a balance sheet play. they have a wonderful balance sheet of assets with debt that is under 50% of a ratio. >> wow. yeah, it feels like spg has done something that a lot of others certainly have not been able to do. do you have a macro view on the markets? we're sitting at over 5,000. we're at record highs. you heard dom chu walk through the numbers. nobody seems to care about the valuations. do you think this momentum can continue, dave? >> the answer is yes, it can. and i also believe no, it won't. so we don't really believe people should ignore valuation. i grew up as a professional investor in the '90s. we learned what happened out of big tech. the amount of similarities from that dot com moment are

frightening to me. 72% of companies in the s&p last year underperformed in the s&p. highest in history. you have a couple of names in the magnificent seven, that their market cap is bigger than all of japan, britain, and canada put together. okay? some of these names are phenomenal. they're better cash flowers than those names in the late '90s were. but at the end of the day, it's a valuation store. can it continue? sure. i'm not timing this and telling people next month these things are coming down. but i don't want to buy nvidia at 70 times earnings. i don't want to buy amazon at 55 times earnings, were there are other names that i think can do better. as good as 2023 was for the mag seven, et cetera, they've broken even over two years. you had one bad year, one good year, and it's about flat. >> that is such an amazing point you're making, because i just posted something -- i was bullish on japan, nobody cares

what i think, but it turned out to be not bad. i look back and i was trying to compare the s&p to the nikkei in japan. the s&p is only up 4% since december of 2021. i mean, it's been a heck of the run the last year or so, but to your point, we fell and if you just bought the s&p 500 with inflation, you're flat to probably slightly negative. >> that's right. and the s&p wasn't even up at the end of '23 from its high of late '21. it's only up a few percent now because of the first month or so this year. and so that's fine. but i just think this is an historical pattern. you have a huge bull market, a correction, and then years of a flat market, a consolidation, that's generally a very good time to be in the dividend names, to be in more value oriented names. i'm not recommending people get out of the market. there are positions and places to be. but there was a free ride for 12 years, brian, for index investors, for the fed, with qe,

and with really kind of reflating the economy. that bull market is over. now maybe ai will continue at 70 times earnings we can grow into. but that's not going to be every name. a lot of names will end up in a graveyard. to me, i would rather be more fundamentally oriented. simon property is removed from all this. it has a totally different story, and we think it has repeatable cash flows that investors will like. >> that's pgtxn, and a little historical context. david, thank you. have a great day and a good weekend. >> thanks, brian. meantime, shares of new york community bank corps down more than 20% this week. the stock is getting a bit of a boost today, because some of the directors and executives buying shares. a lot of insider buying this week. the kre regional bank etf still

negative on the week, but my next guest says the concerns are more about the bank itself and less about regional banks or commercial real estate now. joining us is ron camden from morgan stanley. ron, you make a great point, looking at your notes, and this is a little wonky, but it's important. once new york community bank corpbought some of signature bank's assets, it catapulted them over $100 billion in assets, which changed the way they are scrutinized by regulators. how big of a deal is that part of the story? >> yeah, thanks for having me on. and i was just discussing that with our mid-cap banks analyst. i think you're spot on that the event that happened at nycb is idiosyncratic.

so we think that's actually what drove the provisions you saw, and we do not expect that to translate into some of the other regional banks in the sector. >> so i guess i'll flip it and ask you to speculate, ron. you can dodge, if you like. if nycb had not bought those assets, if they were still below a $100 billion in assets and scrutinized and regulated as that classification, not class four, do you think we would have seen the magnitude of the decline in the stock? >> yeah, that's a really good question. so when you think about commercial real estate, usually these loss realizations happen over time, right? over two or three or four-year period. and two things that we have to remember, the cycle is that, number one, commercial real estate is a $13 trillion asset class, but only a quarter is

office. number two, most of the biggest lending that happens on commercial real estate does happen in the smallest banks in the u.s. they do about 27% of the lending. so to answer your question directly, i think that provision process could have take an longer period to play out, but make no mistake, we do sort of still expect commercial real estate values and office specifically to continue to decline this cycle. so we would fully expect the banks to continue increasing those reserves and provisions over time. >> is nycb, with the massive selloff, a good deal? is it a buy here? >> yeah, that's a good question. i don't cover it personally, so i can't comment on it. what i will say is these commercial real estate issues is not something that's going away overnight. it does take 12, 24 months to play out. so i wouldn't be rushing into anything when i deal with commercial real estate. >> so there may still be time in

the sector, because you're the reit guy that the sector may still have some cleansing. when i look at the numbers, and i know a lot of people predicted commercial real estate were doomed last year, it didn't happen. at some point, that comes to a head and there's big numbers coming up through 2025. do we see another leg down overall? >> yeah. so you make a really good point, brian, because when you think about what's the catalyst to drive a lot of these commercial real estate markets, you have to think about commercial real estate maturities. there's about $660 billion of debt coming due in 2024. 20% is office, and 40% of that is multifamily. so when we're investing in the commercial real estate market, we told investors the office sector is where you have the most secular head winds, and where you're likely to see the big down side surprise. so that's a sector to avoid.

but there's other aspects of the commercial real estate market, being industrial, retail, senior housing, where there's still opportunities for investors to buy really good quality companies with good earnings growth. so it's important to just remember there's a diversification in the commercial real estate market. and this cycle, the risk is acute to one sector. >> yeah. and i feel like there is more to come. but a great analysis on nycb, because that has been a big story. ron, have a great weekend. thank you. >> thanks so much. >> take care. coming up, speaking of real estate, we're going to get a real estate reality check with ryan serhant. he's going to break down the trends. and three buys and a bail. "the exchange" is back after this.

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xfinity rewards presents: '1st and 10gs.' ask your provider for cologuard. xfinity is giving away ten grand to a new lucky winner for every first and ten during the big game. enter daily through february 9th for a chance to win 10gs. with the ultimate speed, power, and reliability the xfinity 10g network is made for streaming live sports. because it's only live once. join xfinity rewards on the xfinity app or go to xfinity1stand10gs.com for your chance to win. welcome back. as we approach the spring selling season, also known as spring, the housing market still faces a most of challenges. home buyers still facing higher rates than a couple of years ago, and there are very few homes out there for sale as people sit and don't move. so let's figure out what's going

to happen, not what has happened. to get some insight from one of the most powerful power brokers in america, ryan serhant is founder and ceo and broker at affirm name serhant. he also has a new book called "b "branded." there you go, you've got the netflix show, just firing on all cylinders. but is the real estate market going to fire on all cylinders in 2024? >> so far, this has been one of the busiest starts of a year to my entire career. new listings nationally are up just under 7% year over year. doesn't sound like a lot, but compared to 2023, it feels great. prices are up about 5%. rates are still keeping inventory down. but sellers are feeling less locked in than they have over the past 24 months, even though 90% of all home loans in the united states are at or roughly under 5%.

people feel a bit unlocked, that's my word of the year so far, unlocked. this year is going to be unlocked. and so far it's moving quickly. >> let's be clear. patrick mahomes is having a good year in football. he's going to play on sunday with brock purdy. you're sort of the mahomes of real estate. you're at the top, you're at the top, and so i wonder, can ryan serhant experience in 2024 be sort of explanatory for the rest of the country, right? i mean, for the broker in ohio, what message would you send to him or her, because they probably had a pretty rough run the last couple of years. >> not so sure about that. i think inventory is low, sure. >> nothing to sell. >> yeah, but a deal volume is lower, but i mean, in ohio, where i hope to open a serhant soon, that deal time on market is still incredibly fast.

nationally, most homes are still sitting on the market for less than two weeks. that's very, very fast. yes, there's a lot of luxury movement, i'm talking to you from our headquarters in soho, and the average time on market is just under six months, and the prices are higher. the luxury market has been moving quickly, there's been multiple eight, nine-figure deals between here and our south florida markets. but the national housing market is starting to come back to life. as rates slowly start to stabilize, or tick down according to the fed announcements, i think we'll see a lot more. people have to move on. you can't complain all day long. if we look at history, markets go down, markets go right back up. >> if interest rates go down, and they might, because to your point, the fed is sort of forecasted, they may cut a couple times this year, but will prices also go down nationally with it? >> no, no. they'll do the opposite.

prices will go up. i'm seeing it from -- serhant is in eight states. we just expanded into georgia last week and started to move west. from all of the sellers we're speaking to, they see price increasing, as rates stabilize and decrease. they say ah, this is what we've been waiting for. i thought i was going to sell my home for less last year, but now i can wait. what we say to all buyers, you can wait for lower rates, too. but so is the seller. you have to understand the math. you don't live in the purchase price, you live in the monthly payments. the headline rate is just under 7%. so people will say, i'm going to wait till it gets to 6.5%. for every $100,000 borrowed, that point by percent swing is $33 a month. so you have people making life decisions over $33 a month for every $100,000 borrowed. people need to look at the

entire picture. what is the outcome you're trying to get to? what is that total monthly payment you're going to live in? there's still great options out there. i think 2024 is turning out to be what i think might be one of the most robust real estate markets i've ever seen. >> what's blowing my mind. again, you're in soho. i live in new jersey. we're lucky. we live in a nice area. you know, we're blessed to be in the positions that we are. a buddy of mine lives outside of new york in a town, basically an expert of new york city financial player. he sold his house last year. he wanted to list it for $1.6. the real estate agent said do it at $1.75. household for $1.973 in two days, all cash. what's blowing my mind is that about half the deals that we have seen in parts of new jersey are all cash. so they don't even care about interest rates.

>> true. there's a significant amount of cash that's sitting on the sidelines. i think we can thank our government for creating so much of it for the past couple of years. that's definitely helped certain industries, as it hurt a lot of people in other ways. it's not for me to talk about. but what i'll say is, precovid, we were doing maybe 20% of our transactions that were all cash. we really looked at total volume across all price points. today, it's well over 50%. luxury markets, it's 70% of all transactions being done in cash. but then what happens is they're doing technical refies. the minute they close, does it make sense to keep that amount of cash locked up in a hard asset? they can put it into the markets, the markets are moving quickly. bitcoin is back up. people like to make money. and so we'll see what happens. we'll see what happens in november. we'll see where we go from here. >> we want people to buy your

book, "brand it like serhant." we want to get the book in. show us the book. i'm sure you have it. you wrote it. so we want people to buy it, so we don't want to give too much away. but give us one message, one lesson in there that our audience watching and listening can take away. >> the u.s. bureau of labor states that by 2027, 50% of the u.s. economy is going to consider themselves in some way, shape, or form, part of the gig economy. they're going to be selling something. maybe they're still taking their w-2, but they're selling something on the weekend, maybe it's insurance, t-shirts. to do that, how do you learn how to actually make an income? my first book taught everybody how to sell. and this teaches everybody how to build that brand awareness for either yourself as a trader. at a bank, yourself as a real

estate agent, yourself as a car sales person, doing a side hustle to create that awareness so you can generate more leads and make more money. i think building a brand is the skillset of the new economy. i could not find another book that taught me how to build a pr strategy, a tiktok strategy and understand a core identity and tie it together. so i wrote it and now it's out. it's the greatest book ever written in the history of the world. >> better than "the odyssey?" >> i read that,and it took me a long time. it rivals "the odyssey." how many solo entrepreneurs reading "the odyssey" right now? but "brand it like serhant" is out now to build a personal brand or a product brand. and it's incredibly tactical and goes through my entire company's building over the past couple of years. all the mistakes that i've ever

made. we interview a lot of great people. amazing people. >> it's amazing. gary v., i'm just filling in on this kelly show. i have a show at 7:00 p.m. gary will be on "last call" my 7:00 p.m. show tonight. >> he's got great quotes in the book. >> fantastic. better than "the odyssey." ryan serhant, thank you. good stuff. good luck with the book. not quite as good as "crime and punishment" but that didn't have a happy ending. coming up, our mystery chart of the day. there is your chart. tweet us at the show, take your guesses. we'll reveal it later this the show. we'll beig bk teth rhtacafr is. . -left over? -yeah. oh, absolutely. (inner monologue) my kids don't know what they want. you know who knows what she wants? me! with empower, we get all of our financial questions answered. so you don't have to worry.

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good day and welcome back to "the exchange," everybody. i'm tyler mathisen with your cnbc update. the european commission will

open an investigation into tiktok according to bloomberg. the probe would launch under the new digital services act over concerns the company hasn't made enough changes under the law's mandate to protect underage users. america's biggest banks collected 25% less in overdraft fees as they face pressure to reduce those fees. roughly $700 million less than in the previous year. and update on a story we brought you yesterday. the frenchman who built this 23-foot model of the eiffel tower out of matchsticks originally denied the world record because he used the wrong kind of matches. well, giness reversed course and considers the record valid. brian? >> that's an important update.

we talked about it yesterday. i'm glad you could bring it back to us yesterday. >> i wanted to close the loop on it there. >> i don't know how i was going to sleep tonight. >> you could call it paris match, couldn't you? >> you've got a strike. here we go. tyler mathisen, thank you. all right. coming up, chiefs and 49ers. players are speaking out on business. and they're talking elon musk, artificial intelligence, and yeah, even the federal reserve. contessa brewer is live in las vegas, talking about the federal reserve. contessa? >> reporter: that's right, brian. and boy, this was a fierce battle, head-to-head. i got the super bowl teams to tackle tough questions and look, wall street, might want to listen up. hexcng iba aer this. s of cyber threats each year. that rate is increasing as more and more businesses move to the cloud. - so, the question is... - cyber attack! as cyber criminals expand their toolkit,

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some breaking news. we're two days away from the super bowl. between the brands, the booze, and the bets, it is no exaggeration to say there are literally billions of dollars at stake here, lives are on the line. we've got full team coverage. julia boarston has the

advertising angle. and contessa brewer is live in las vegas with the business talk. but julia, let's start with the ad side and how big it could be. >> well, brian, despite the rise of streaming and cord cutting, the nfl is as big as ever for tv advertisers. around 70 30-second spots sold for an average $7 million. that is in line with last year and up 75% from the cost of a super bowl ad a decade ago. 20% of clients were interested in super bowl ads this year after lastier's record 115 million viewers for the game. we expect advertisers to avoid controversy. celebrities will, again, be front and center after last year, 40% of commercials featured multiple celebrities. expect more ads, including from

elf cosmetics, targeting female viewers that taylor swift has brought to the game. we'll see a jump in candy brands, which is a record. but not all ads are going to be on television. streaming only ads cost $1 million for 30 seconds. now, ally saying "more and more of our target audiences, millennials and gen z are migrating to streaming each year. we're being smart with our own money by more effectively engaging our target consumers. this follows the nfl streaming a record number of games, a trend we are examining. a new documentary launching today on cnbc.com looking at the nfl's digital transformation, the risks it's taken to boost its viewership. brian? >> there's an anchor named kelly

evans, and she tweeted out how a bunch of products, if they followed the ad inflation rates like chicken wings, it would be like $60. a pizza would be like $150. there's no end to demand for super bowl ads. people are paying a ton. >> that's right. it makes sense that there would be more ad inflation in super bowl tv ads than in chicken wings, because overall, you've seen that overall tv ratings have declined, but ratings for spotting events and specifically for the nfl and the super bowl have gone through the roof. this is what we're examining. you have to check it out. we talk to folks from the nfl, from amazon, about their big deal, about peacock. they had record ratings for their streaming games. so the idea is the nfl is trying to go to where their viewers are and where consumers are. but there's some big risks, some frustrated fans and a whole new audience that has found the game through some of these big deals.

>> so where do i find the documentary? >> cnbc.com. and find it on youtube. >> do i need to put in an http://? >> no, i think you can justgo to game-plan. you'll find it. just google it, brian. >> i'm going to bing it. i'm in a mood. i've been on tv 14 hours a day every day this week. speaking of the super bowl, streaming, beer, snacks, pizza, they're all essential. of course, ahead of the big game and even during the big game. your next guest has three names that you should buy, and the name to avoid. joining us for three buys and a bail, gina sanchez, chief market strategist and cnbc contributor. good to see you. first buy -- >> good to see you. >> first buy is a name that is close by to your loam in los angeles.

-- home in los angeles. >> right over in burbank, it is disney. streaming generally is a great buy, and disney, obviously this is more attractive on a valuation basis, but for a reason, they have a lot of struggles with their attempt that did not go well, the pandemic, et cetera. but you are starting to see disney earnings start to stabilize. they're narrowing their losses in streaming, and they just announced a massive deal, a joint venture with fox and warner brothers to offer the ultimate cord cutting sports package. and most people who subscribe right now to cable television are mostly just subscribing for sports at this point. julia's ad commentary supports that. and so if you look at the potential, and also the $1.5 billion investment into epic games, to bring their i.t. content into the gaming space, i think these are big announcements and are not priced into disney stock yet. >> you've got two more buys.

i'm just going to break trend and combine them, because i think that constellation brands, the biggest spirits and booze producer out there, and pepsi, obviously soft drinks, some people don't drink, that's fine, and snacks kind of go together. i feel like this is a food and drink play. >> yes, it absolutely is. ultimately, what we were looking for is looking for good growth, healthy balance sheets, and good valuations. so you look, for example, at constellation brands. written off because they thought everybody was going to change their dietary trends and all of these diet drugs were going to make people not eat, you know, snack food. guess what? junk food is still a big business. and quite frankly, it's a very broad category of foods and snacks, including aquina water, quaker oats, healthiest stuff on

the market. so the growth expectations and margins also for both names are strong. >> but yet your bail is also a food play. a lot of people are going to be buying up tons of pizza. they may buy the pizza, but you say don't buy the stock of papa john's. >> that's right. you know, domino's has become the big behemoth in pizza. papa john's, this is one where expectations for growth next year are not great and their margins are really tight. so we're looking for a little more breathing room than that in the pizza play. >> yeah. i mean, btig sees it as a turn around story, but down 4% year-to-date. to your point, it sounds like pardon the pun, they're going to eat papa john's lunch. >> this is feeling like a value trap. >> have a good weekend. enjoy the super bowl. thank you. now, let's get to where the

super bowl actually is taking place. wherever -- by the way, wherever contessa brewer goes is automatically the super bowl. doesn't matter what sport or event it is, it elevates to that level. contessa, would you agree with that? wherever you go, it is the super bowl. >> reporter: flattery gets you everywhere, brian. at least with television. here is the great thing. i got a chance to sit down with all these players and ask them some tough questions. i asked brock purdy whether being underestimated as a long shot was an advantage. his short answer, yes. i asked chiefs coach andy reed about the serious you warnings of gambling to his players and staff and then i really got down to business. what's your expectation of a fed rate cut this year? >> what was that? >> i think they're going to do a soft landing. >> timing wise? >> probably end of the month or early q2. >> i hope it answers.

i bought my home last year, so i missed the train on that. >> i think towards the later part of this year, maybe q4. jay powell has continually fought against that, but i think he's just trying to signal the market not to get too hart. >> crypto still has a mark for sure. it has slowed down. >> i was never with crypto and still learning about ai. >> i'm into crypto. >> i'm not a fan of crypto. i feel like it's too volatile for my portfolio. >> as far as ai and crypto, i made a couple grand off of ntts, but i realized they were scamming, so i stopped doing that. >> technology is crazy. i wouldn't be surprised if i -- >> the s&p, all those 500 companies, plenty of them are investing in ai. so you cover your ai basis. >> elon musk as a leader, yes or no? >> i think he's shown the ability to build up companies,

obviously. he's a little ak centric, so i can see how he would scare you as a shareholder. but he's a genius. >> yes and no. i feel like he's -- he created the entire company. his ideas are the reason the company exists. but at the same time, now, i feel like he's ready to move on from it. >> which do you think has brought more fans to the nfl, gambling or taylor swift? >> taylor swift. >> taylor swift, no doubt. >> taylor swift. >> i think it's sports gambling. >> taylor swift or sports gambling? >> i don't know. but that's a deadly combination. >> reporter: speaking of taylor swift, on "squawkbox" this morning, the bets on travis kelce have doubled, and then they're seeing more women gambling, as well. and ceasar's told us that so many bets, more bets have come in on travis kelce to get a touchdown, brian, than all of

the san francisco 49ers money line and spread combined. >> well, that's good. listen, i wonder, and i should check my account, if you can bet -- i'm sure somebody would take a bet, maybe on these apps, on how many times they're going to show taylor swift, you know, on the television feed. it would be the beginning of the game, any time kelce catches a pass, he scores. >> reporter: not in the united states, and not on regulated sports books. you will find that in other countries and in off-shore illegal sites. but listen, the gambling industry is serious about this. they said all this talk is taylor swift going to get a ring? those bets are being made on platforms not regulated. >> like a super bowl ring or a spend the rest of your life with me ring? >> yes, i think show me the money kind of ring. >> i'll tell you what, i think the chiefs are going to win. when they win, and if they win, it's going to be like the taylor

swift effect is going to get much bigger. i understand it's warmer here than in phoenix right now. i understand it's not hot there. >> reporter: you know what? i don't know if you can tell behind me, but mt. charleston has snow down to the 3500 level. this is a view we don't usually get -- i don't know, jerry, can you broaden it out? we don't usually get this in las vegas where one, you need a coat. but also, they're talking should we go hiking in the snow? is it safe to go up there? the mountains are beautiful in the backdrop here in las vegas, brian. >> i'm sure you'll be scaling the summit momentarily, contessa. >> i need my winter boots. >> 51 degrees in new jersey right now. 47 in las vegas. it's warmer in new jersey than vegas. which will be good. good stuff, contessa. see you soon. thank you.

coming up, 90 days, 5200 square miles, and 11 million dollars. for this. it is a sonar image of the pacific floor, and what could be a key part in the hunt for amelia earhart. the story, next.

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good to give you a quick update on the markets. we are at record highs on the s&p 500. yesterday, we hit 5000 for four seconds right literally at the end of the trading day. a couple of seconds before the close, and then it adjusted, is that below that. the s&p 500 is up four tenths of 1%, 5020, the nasdaq is up. by the, way the ten-year yield is also. a source talks and yields up at the same time. sometimes we don't see that too often. all, right coming up, a 90 year old mistreat maybe one step closer to being solved. the leader of the team that may have found amelia air house rcft.

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all right, welcome back. where does a former air force intelligence officer, private pilot, tech entrepreneur, attorney, commercial real estate investor, usually end up? apparently at the bottom of the pacific ocean, at least your next guest did, sort of. and he thinks he may have found amelia earhart's plain. joining us now is chronic underachiever, tony romeo, founder and ceo of deep sea vision. tony, i'm fascinated by the story. thank you for coming on. it has been an 80-year search. theories abound from coconut crabs doing their thing to --

even a little rock there in her honor. what have you and your team believe you have found? >> we always believed that she landed very close to the island. we looked at all of the evidence, we don't take anything away, we didn't add anything to the evidence, we looked at just what was out there, and our conclusion as well as many others who have studied the story very carefully is that she larry closest to the island. >> basically, a navigational error. they just screwed up, maybe forgot to reset. they had this thing, i calendar which could tell you how to navigate it back then. probably just ran out of fuel and had to ditch it in water, is that kind of summing up what you think? >> yeah, that's it. so she flew, she took off on july 2nd. she flew into july 3rd and just after midnight she fluid back and then july 2nd she crossed the international line. her navigator, fred noonan, was one of the best in the world. have you forgotten to change the calendars back a day on his first readings, it would've

thrown off by a significant distance. not far far, but enough that she would not have seen the island. >> so if you spotted something? because i would also imagine that, and just as a big fan of world war ii history, actually reading a book now about the japanese in world war ii and air battles, got to be a lot of downed world war ii aircraft around that region. >> there's a lot in the pacific, just not in that area. the pacific is huge. we've got all the way from japan all the way down to argentina, it covers a huge amount of area. the place that we were was in the central pacific highland island, which is just right on the equator, which is not the site of any known world war ii battles. the japanese did strafe the island actually after pearl harbor, but there's no known shipwrecks, in fact there's not even any flight paths or shipping rains to the area. when we were out there, we rarely -- i think we saw two boats in three months, and we saw one or two planes flying

over it at 50,000 feet. other than that, it is a part of the world that really nobody goes to. >> you went there, it's amazing, and listen, we would love to put some closure on this. and if she was able to just kind of, you know, bring the plane in gently, given the depth of the water, and given the frigidity of the water, it would seem, tony, and tell me yes or no because you are the scientist, i am not, that if you do find the plane, it should be in a relatively intact condition i would hope? >> yeah, that's right. she would've landed softly. she will turn the plane into the wind and slow the plane up as much as she could to landed on the waves, and then there is been other lockheed's, the exact same plane, that have landed in the water. it was a strong aircraft. we expected it -- she likely unfortunately drowned in the plane or went down with it or get out and maybe survived a little bit in the water, but it would have spiral down to the sea floor, and then we just rest on the sea floor, and there have been a lot of folks who said, wouldn't the pressure

crush it? sure, pressure will crush something with air inside of it, but -- >> no air, filled with water. >> exactly. >> how deep is it, and could you get? it are you able to extract it? >> 16,000 feet, and we possibly can. yeah, it is like a 747 and every square inch of your body. and it depends on the conditioning and, overtime, the rivets and things will probably soft an and we can. the plane will probably be not in the same straw commission that it was, including the day that she disappeared. we expected that the aluminum will still be there. it is not going to disintegrate. the temperature and the water, i mean at the depth, is very stable. there's no currents, not going to be a lot of erosion in wind. and it's very stable and very cool water. >> amazing work. 16,000 feet, my gosh! over three miles down. that is just tremendous. good luck to your team, tony, keep us updated on this, because i find it fascinating, and hopefully you can solve it.

>> thank, you i appreciate that. >> and they are in the middle, i mean literally the middle of the pacific ocean. amazing. all right folks, that does it for the exchange. i will see you for last call, seven pm eastern, four pacific, and we have another great show for you to carry these on et cetera. power lunch starts on the other side of this quick break. [♪♪] your skin is ever-changing, take care of it with gold bond's healing formulations of 7 moisturizers and 3 vitamins. for all your skins, gold bond. personalized financial advice from ameriprise can do more than help you reach your goals. i can make this work. it can help you reach them with confidence. no wonder more than 9 out of 10 of our clients are likely to recommend us. ameriprise financial.

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