coventry direct, redefining insurance. (fisher investments) at fisher investments we may look like other money managers, but we're different. (other money manager) how so? (fisher investments) we're a fiduciary, obligated to act in our client'' best interest. (fisher investments) so we don't sell any commission-based products. (other money manager) then how do you make money? (fisher investments) we have a simple management fee, structured so we do better when our clients do better. (other money manager) your clients really come first then, huh? (fisher investments) yes. we make them a top priority, by getting to know their finances, family, health, lifestyle and more. (other money manager) wow, maybe we are different. (fisher investments) at fisher investments, we're clearly different. good afternoon, everybody and welcome to power lunch. i am tyler mathisen, i'm glad you could join us. stocks reacting to the worst day in nearly a year.

not as bad as yesterday. in fact, a lot etter, higher by 30 points on the dow. tesla, the tenure is moving as well. >> is pulling back a little bit. it had jumped to its highest level since december 1st. yesterday, it started with fears of higher, longer interest rates, and you are seeing the yield down by .05%, just barely, just a little bit. coming up, we will hear from an analyst that says that possibility operates staying high could pose problems for the banks. >> and, we are watching as it passed alphabet to become the largest company. invidia at 1.802. alphabet has come back to 1.804. it's a dogfight. everyone knows about invidia, but now it seems investors are trying to chase the next big thing like -- in chips.

is this a sign that ai chip hype is getting too hyped? we will discuss that. we will start with mike sent holy and yesterday's market reaction to the reaction to the other reaction. >> reporter: that's what we do here. we are always in this hall of mirrors figuring out what comes next, based on what just happened. the market never did lose its wits, the pot -- the pullback yesterday was broad. in other words, 95% of all volumes to the downside. we haven't had a 3% pullback from a higher, but the market did get its footing. the s&p 500 is up 1% from yesterday's intraday low, about 23 hours ago. nothing much has changed with the overall trend. some might say that means the market has more to give back, because we were pretty overbought. we were up 22% over three months and change, so it seems as though, perhaps, we might have a little more reckoning

if, in fact, the inflation scare has any legs to it. i wouldn't be alarmed about the longer-term trending damage. industrials, back at their highs today. they just took all of yesterday's losses back, the industrial sector, and the credit market has been very calm. no macroeconomic shock, but the market is on a little more alert. >> mike, thanks very much, and stick around as we bring in our next guest, who remains optimistic for the year, and has a portfolio that he says is the most concentrated it has ever been with just 12 stocks in it, and those 12 stocks are doing well because the portfolio was up 20% this year. peter anderson is chief investment officer with anderson capital management. why are you invested as you are, and where are you concentrated? what sector? >> after all of the covid scares and the interest rate hikes, and all of that, i've always thought once the storm cleared, that the economy would be on a very favorable track, and that's why i am so confident.

i think this year will produce tremendous returns, in spite of all of the concerns. we still have a lingering concern about the fed and raked -- rate hikes, or rate cuts, and i still think if you pick, solid companies, especially in this period of such hopefulness, with artificial intelligence and other technologies, i think we are sailing very strong this year. >> what is your concern, then? >> i have only one concern, and that concern has to do with artificial intelligence. you know, i've probably done, dare i say, the deepest dive on the theoretical background of artificial intelligence, for an investor, and what i have come up with is this. i think we are also optimistic about what's going to be producing from artificial intelligence, that we are setting ourselves up, perhaps, for a big disappointment. i think the computational capabilities are great, but in terms of mimicking the human

brain, we are so far away from that, and i'm worried that some investors might wake up one morning and consider this an aib trail. >> there are two sector themes, ai and cyber that make up 20% of your portfolio. >> exactly. let me finish this thought. ai, on the track but it's on, is very very strong, but we have to temper our expectations. i'm very optimistic about artificial intelligence, but more in the capability of high- speed computational capability, not that it's going to mimic our human brain, and that's where the discrepancy can come in. if people are too optimistic about how far this is going to take us, you know, you can't build enough ladders to build your -- you to the moon. it's going to cure everything, and it certainly, isn't. that is the biggest fear this year, adjusting expectations,

looking in the mirror and saying to ourselves, ai is great, but it's not the cure- all, and it does have cycles. we have seen from the 1950s, for instance, whenever there is a new technology, people think they will have the cure for artificial intelligence, and then they realize, we are not yet there yet and it starts the trade off. that's where we are right now, and the cycle. probably, the most optimistic cycle ever in up -- artificial intelligence. we have to leave it there, because we have some breaking news from leslie picker on morgan stanley. >> this is according to a person familiar with the matter. morgan stanley plays to lay off a few hundred in its wealth management division. this comes related to integration costs after they closed the eátrade merger last year. i'm told this will not affect financial advisers, essays, or their teams. a few hundred represents less than 1% of this division. a lot of the layoffs will

comprise of home-office, eátrade, at work business, those types of things, not financial advisers, or those informing people of what to do with their money. i'm told that those who are affected will be informed sometime this week, but a few hundred layoffs contributing to the layoffs we've seen across wall street in the last few months, as everyone figures out what this new environment entails, higher for longer, and in the specific case, integrating an acquisition, which closed last year, and what the bank will look like moving forward. i will send it back over to you. >> makes very much. leslie picker reporting on layoffs at morgan stanley. thank you. the economy ppears to be strong, and even though we do get these headlines about job layoffs, unemployment, generally, remains low. expectations have pushed off a fed rate cut until may or june. bank stocks are really under

pressure here. industry watchers say there are real risks ahead. joining us to discuss this, abraham punawala. where do you see risks, especially for the banks? >> thanks for having me on. if you think about the broader bank sect them -- sector, let's be clear. a stronger u.s. economy is generally good for bank earnings, bank stocks over the medium to long-term. inflation turns out to be sticky, the fed has to, instead of cut rates at some point this year, actually, stay higher for longer, or potentially, hike interest rates. all of those ould lead to potentially worst outcomes. so, that's the risk. it's a daily risk event, but it's not off the table, and

that is something we are watching for as markets recalibrate in real time. >> if that happens, what would be the specific consequences for banks? are you looking at default? credit tightening situations? give me a sense of what the specific consequences are. >> sure, i think the specific consequences would be, if e do get into a hard landing, essentially, if you get into a recession, you could see the floors across consumer, commercial pickup. you, essentially, see an old- fashioned credit cycle on the back of an economic recession, which was not quite the base case for us off of the markets, i think, coming into this year. >> let's talk about one of the things i note, and that is, the market has treated stronger economic data as a negative for bank stocks. why is that? a bank would generally benefit, wouldn't it, if credit defaults and delinquencies declined in a stronger economy? i would think about economy would show up in their loan book.

>> you are right, and it's ironic. banks are a reflection of the economy. i think, what we are dealing with right now, is there are two aspects to this. one, given the speed at which the fed moved from zero to 5%, initiated qt, there is a bigger lag between what we are seeing in terms of funding costs today , and over time, some of the fixed rate assets kind of reflect where the market interest rates are, so it's a bit of a timing issue, which creates a bit of a squeeze on margins and revenue growth for the banks. secondarily, i think there is a narrative, as we have seen over the last few weeks, around higher rates leading to concerns about the commercial real estate sector, and i say the narrative, because fundamentally, if you talk to experts, and we have spent a lot of time talking to a lot of teams and experts, the issues today are very acute, but when you look to any other subsector,

the issues are little more less pronounced. both of these subsectors are doing quite well. >> i don't know whether you cover morgan stanley, but we just had that report from leslie picker about layoffs in the wealth management group, which i thought, and i think wall street believes, is the kryptonite in morgan stanley's portfolio. wealth management has been their strength, recurring fee income. that means they are less prone to swings in trading revenue or investment banking, and so on and so forth. what is your reaction there? i don't know whether you cover morgan stanley, but two layoffs in a bulwark part of morgan stanley management. >> absolutely, i cover morgan stanley, and i will be hosting jet finn at the financial conference next week in florida. i will be looking forward to that discussion. in terms of the layoffs your colleague announced, it's a few hundred on a base of 80,000

employees, give or take at morgan stanley. you are right. there is a lot of focus, in terms of how the margins and that business will evolve over the coming months and quarters. it's fiercely competitive, but i wouldn't read too much into it, in terms of a layoff on n 80,000 employee basis, as it relates to their focus in that business. >> that sounds reasonable to me. >> before we let you go, i want to get to which bank stocks you think are good right now. which do you like? maybe we split it up into major banks and regional banks. >> sure, in terms of the big banks that we like, we like citigroup for a long time, and i think it's a bit of a recovery restructuring story. we think they are doing a good job in turning around what was probably 20 years of mismanagement at the company. we like citigroup. i think the other bank we do think is turning a corner is goldman sachs. keeping some of the issues that

have dragged of the company, and if we do get a bit of a cycle, we like the goldman shares, and we think the bank will be focused on the right things going forward. the regional banks, we like regional banks, but there is a bit of a idiosyncratic -- one that comes to mind is truest financial cfc. we are getting to a point where they have a plan, in terms of cleaning things up and executing on that strategy. another name that i would flag would be mtbe. big commercial real estate exposure, but i do think there is a disconnect between fundamentals of mtb and what the market is doing by putting all the banks of the same bucket. >> thank you very much. ebrahim poonawala, thank you. further had on the program, we are looking for some semi- hidden gems. obviously, all of the attention

seems to focus on nvidia, but are there other names worth betting on in the chip area? or, is it nvidia or nothing? most of that nvidia hype is based on ai. this week's selloff seems to be throwing some cold water on that craze. we will discuss it all, next. 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

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welcome back to power lunch. the nasdaq, 100 etf, the triple cues, one of the most widely held etfs. it's up 40% over the last year, and the reason is simple, artificial intelligence, but we are seeing more signs that the hype is outpacing the reality, and let's talk about that with deandra both set in today's tech check. peter andersen said that his biggest worry was some of the fever dreams of the ai boosters may not be real. >> i'm not going to counter that. i will give you a few more examples, i want to relate this to yesterday's selloff as well. this is the first selloff we have seen in a while, and it's notable which names were resilient, suggesting that the gen ai tailwinds may be stronger than the cpi headwinds. you had microsoft, meta, and they all held up better than the broader markets. the point being, it could've been a lot worse without them. there is a lot riding on the

promise of generative ai. you just talk you queue queue up 40%. you are correct in saying that a lot of that is gen ai. i will give you a few more examples. there was a journal article yesterday on microsoft's copilot, kind of saying it was a bit of a dud, and that's a big deal for what they are calling the linchpin of the ai monetization theme. another example, brian chesky on the airbnb earnings call, downplay the progress, so far. he said it will still be a huge platform shift, but the interface is still stuck in the 2020 tens. case in point, none of your iphone apps have fundamentally changed since the advent of generative ai. a question i like to ask in san francisco is, namely a use case. a lot of folks struggle to do that. we're just not there, quite yet. no doubt, it's coming, but how quickly are we going to get there? lastly, tyler, i want to mention, the data brick ceo, who works in the space, he is expecting a chip let this year,

and the commoditization of a lot of these models, these large language models that have seen billions of dollars of investment, so a little bit of cold water there. >> if that is cold water, is it cold water for the short term? maybe this year and next year, but over the long term, shouldn't there be a lot of steam? >> yeah, it's cold water for the i don't know how long term, but the markets have priced in things happening in the next year or so. we get nvidia next week, and everyone is expecting a blowout forecast, and what we have seen from the chipmakers and chip designers, so far, is not all of these upward revisions, so the key is, what are the markets expecting? they may be expecting it sooner than we are going to get it, so that's why i thought the airbnb call last night was so refreshing, because you didn't just have a ceo saying, we are going to use generative ai, he is saying, we are not going to stick a chat bot on something, and we are going to come up

with an entirely new interface, and he didn't promise when that is going to happen. >> here's an interesting use case. we use this transcription service when we do interviews. it helps us keep notes. a new feature of otter is that they go through and consolidate and condense and bullet point for you the topics that you've covered, see you can easily find it. what an amazing, useful tool. it's like having a fantastic assistant right there beside you. >> i agree, and a lot of that is what copilot pitches. i'm on chatgpt for a lot of the day, but is it an evolution? is it a revolution? there has to be more to it, maybe. it's super, super elpful, no denying that, but is it the huge platform shift that sam altman can raise $7 trillion on? we are not there yet. >> you listened to my interview with transcriber. >> not only that, it goes back

through and corrects it. the advances, we have been using it for a couple of years, but now, the fact that it bullet points it for you, and how to organize the interview that you've done has been extremely helpful. >> on that note, i just want to say, the thing i'm excited for is your on device ai, which is a beta product, and that, i think is interesting. you can go through all of your own notes, your past meetings, videos, and basically, it tailors, it's in a i learned language models for all of your information. i think that would be really useful. maybe that's the next step. >> what i want is a thing that listening to my conversations -- if listening to my conversations anyway. remind me, how i met this person. you met this person at a fundraiser. that's what i need. but, you have to give them everything, all your data, all your conversations. coming up, revolutionary experimental new community backed by names like lyft and lennar, with one goal in mind, no cars. it is garage banned.

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welcome back to power lunch. gas falling again today, down 50% in the last three months. the winter, when natural gas is supposed to rise. pippa stevens is here with more this decline. it is precipitous. >> really, a how low can we go story at this point. we did hear from you qt this morning, and they are the largest producer of natural gas, because the southwestern deal hasn't gone through yet, so one important thing to note here is that a lot of the producers are hedged, so eqt set for the first quarter, more than 50% of their production is hedged with an average weighted floor price of 3.87, so that is more than double where we are right now on that gas. the producers aren't exposed to these prices, which is why the stock is not done as much as nat gas, but looking forward, they did have some interesting comments. they actually don't see prices back into the four dollar to

five dollar range. they see the more in the two dollar range, so they said that until we build up more infrastructure in the u.s., there is not going to be this big lift up, because it's great if you have a lot of gas, but if you can't move it, what's the point? until that happens, they see more depressed prices. with that in mind, they did emphasize over and over again that they are a low-cost producer, and that in this type of environment, the marginal prices, the higher cost producers have to scale back on their production. for the time being, they don't have any plans to perk up from that gas to the other gas. those are ticking higher, up about $0.20 in the last month, now at $3.26 on the national average. that follows an uptick in futures, up about 10% in the last month. i did catch up with patrick dehaan from gas buddy today, who said it's a question of, how high can we go? no doubt, we are heading higher, so something to watch there.

one thing is that we are heading into a seasonally strong period, so prices typically rise between $0.35 and $0.85 into the spring, so we are up about $0.20 and we still have quite a bit of room there. refineries are in maintenance season right now, and utilization is about 80%. that is in line with historical norms. another thing is, bps refinery, the largest one in the midwest has been off-line for some time, so we could see a little bit of a squeeze on the product side. let's get to bertha coombs for a cnbc update. >> israeli president, benjamin netanyahu, wrote on social media this afternoon that israel will press ahead with an offensive against hamas in the city of rougher on the gaza strip. after allowing civilians to flee, the u.n. has warned that an israeli assault on the city of more than 1 million people could lead to a "slaughter."

a blood test may be able to detect several forms of dementia. more than 10 years before the deceased is diagnosed. according to new research published in the journal of nature aging, brain scans concurrently detect abnormal levels of a protein associated with alzheimer's before dementia sets in, but it's expensive and often not covered by insurance. and, they are celebrating in kansas city. hundreds of thousands of fans gathering this afternoon for the chiefs super bowl victory parade. so far, no sightings of taylor swift, but patrick mahomes did say that after a shirtless photo of him went viral earlier in the playoffs, he would have to show off his dad body again during the parade. well, that would, certainly, be worth it. i think. >> is a little cold. i'm just saying. maybe just keep the coat on. >> if jason kelce can do it

during their freezing gave -- >> right, he was shirtless there. travis having a good time, as he seems to. thank you, bertha. after the break, the race to find the next nvidia. we will take a look at some other names that may be worth betting on in the chip space. nelson peltz, delivering some strong comments to disney's bob iger. >> very little meat on the bones on their announcements. the epic games, up 1,000,000,000 1/2 dollars. what is the return? what are we getting to shareholders? a nice announcement, i hope. they don't have a long history in video games that is very positive. "what should we do with it?" bacon and eggs 25/7. you're darn right. solar stocks are up 20% with the additional hour in the day. [ clocks ticking ] i'm ruined. with the extra hour i'm thinking companywide power nap.

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welcome back. as of late, we've seen a pretty strict hierarchy form in the chip space. it seems either you are the ai leader, or you are just a loser, and nvidia is the leader. one of the biggest recent market success stories, up 16,000% in 10 years. you know, i just double checked myself, now markets are looking for the next nvidia.

>> hello, yes, the split, as you mentioned, between the chip companies is all the more obvious right now. you mentioned the ai leaders, nvidia, that of seen massive gains , while the more cyclical names, you have analog, industrial, global foundries, most recently. they have been warning of weakness to come, but investors are really bidding up other perceived ai plays, in hopes of finding the next nvidia. let's take a look at supermicro, for example. the stock is up 194%. 203% now, it's got even higher. it makes servers that can be customized for ai, and it is outperforming nvidia this year alone, although, it's considered overbought if you look at its rsi. arm is another one of 78% since february 5th.

arm makes design for chips and servers and is considered a futures ai play. again on that future momentum. this is important to note, because softbank owns roughly 80% of arm shares. that means liquidity will result in short positions and more of a swing when you have low liquidity. other under the radar names, monolithic power systems, over 22%. i cry holdings, which makes fluids for semi cap equipment, allegro microsystems, which makes power integrated circuits, up 19%, also outperforming nvidia. the bottom line, not only are these stocks outperforming the market, but are trading over their historical average for the period, because investors are hungry for ai. anything. anything ai. many feel like they can't get into nvidia given its current price. let's see the externals. that's why we have monolithic

and all of the other names. >> christina, we will take a deeper dive on the chips stocks. let's bring in matt bryson. good to have you with us. give us three names in the chip world that aren't nvidia that you like. >> i, certainly, like -- i think they have set themselves up as the second nvidia. >> amd? >> yes, mba. because they are working off a lower revenue base. it is easier for them to grow off of that base. i like taiwan semi. they are the supplier to all of the leading chipmakers for ai, so whether you are talking marvel or amd or nvidia, and then lastly, i like micron.

one of the concerns around memory right now is, there is too much high-bandwidth memory, or there will be too much high- bandwidth memory. that is the good memory that is used in conjunction with gpus, and if we are going to see this continued demand for i, what you are actually seeing is more and more memory get stacked on the boards. hpm should only grow faster, in my view. >> you brought up a great point, especially as we talk about the competition from cloud flare creating their own in-house chips. tsmc can benefit, all of the smart phone chips from apple, so there is a huge, vast array of sources of revenue, but you did not mention intel. amd has its new chip coming out. why is that?

>> i think the difference between amd and intel is, amd has traction with u.s. hyperscalers. if you look at spend on accelerators, it has really been microsoft, amazon, google, meta. leading the way. amd has traction. with intel, i think their hope is to get into the inference market, so after we are done training the models and applications start to show up, they will get some traction at enterprises, but i think that is very much a to be determined thing, whereas amd, clearly, if you listen to the release. >> matt, do you think nvidia is overbought? >> i think that ai is going to be a game changing trend. if i have concerns, at some point, whenever we have

shortages of chips, like we have right now, eventually, you sell through backlog and you see a bit of a pause in revenue, but no. i think ai and the data center, over time, will continue to grow. historically, these markets have one or two players, and nvidia has 80% market share. they have established themselves. could there be a disappointment at some point? i don't think it's coming this quarter. out of the gets coming next quarter, so no. i don't think it's overbought. >> a triple over the past year. matt bryson, thank you. >> still ahead, break out your walking shoes with builders, who think a rental community with no parking spaces could actually be a real hit with tenants. we have those details. >> no parking spaces, no garages, because no cars, but we will tell you what tenants get in return, coming up next on power lunch.

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as more americans work from home, they are changing the way they live, seeking more social, walkable communities, but are they willing to give up their cars entirely? one real estate developer is making a bet that in tempe, arizona, they will. that's where we find cnbc senior real estate correspondent, diana olick. hi, diana. >> reporter: this new $170 million rental community has all of the amenities, the fitness center, the dog park, the outdoor kitchens, but what it does not have his cars. cul-de-sac is the first community in the u.s. designed specifically for car free living. cofounder ryan johnson said, it's what americans want. >> in the u.s., we have been building the wrong kind of housing for 100 years. we have built sprawl and created car dependency, edits made us lonelier, less healthier and less happy, and what people want is to live in walkable neighborhoods.

>> now, retail, restaurants, and close to 200 apartments in the first phase. no cars means no parking, no garages, no parking paces, so more space for social areas. the complex is strategically located next to the areas light rail program. all residents get a free pass. the first 200 also get a free electric e-bike, and a partnership with lyft get some discount rides. investors in cul-de-sac include lennar, one of the nation's largest homebuilders, and coastal avengers and founders fund. as part of the community, studios are rented to small businesses, and some of the business owners actually live here as well. >> it's not as affordable out here as it was a few years ago, and having that opportunity to live and work as one, that's perfect. >> reporter: now, walkable neighborhoods are, of course, all well and good when the

weather is fine and lovely like it is now, but in tempe, arizona, it can be well over 100 degrees for weeks at a time, so the summer will be the real test to see if this idea can go the distance. back to you guys. >> it's interesting, because it may be the first planned community to forbid cars or parking, or whatever, but lots of people live without cars. look at new york city. the advantage in new york city is, yeah, you can go out and just walk to where you need to go and use mass transit, but -- i mean, phoenix is a car town. tempe is a car town. it's not like the light rail gets used very much. >> reporter: actually, it does seem to get used a lot by the people that live here, and that's the idea. it's a test run. look, is phoenix going to get -- give up cars forever? no, this is a city of sprawl. one guy said that he moved out of arizona because he couldn't stand to be so car dependent, and he moved back and moved here because he liked this idea.

the idea is that they are offering you other options, because society is changing toward that shared transportation. they are not anti-car, they are just anti-everybody having a car, because in arizona, there are something like eight parking spaces for every car. >> what do you do when your friends come over? >> reporter: when your friends come over, there is a parking lot that is next to the community, where they can park, so they can go to the restaurant that is here, and they can also go to the stores that are here, but nobody in the complex has a parking space or garage. they don't waste that space. it's not like you can't own a car, you just keep it somewhere else, but the idea is to depend on community transportation, rather than using so many cars and so much gasoline, and so many emissions, might i say. >> as you walk around the area, could you see yourself living there? in other words, are there sufficient dry cleaners, the coffee shop, the liquor store, whatever it is, so you can get by without having to go get in

a car and go to a grocery or target or whatever? >> reporter: honestly, you would have to walk out of the community for certain services like that. there is a grocery store in the community, what i ask is, people with kids, anybody that has kids, i had them, you are a mover and doer from middle school through a license in high school, so i think it would be hard for families to live in a community like this because they have to drive the kids to so many different places, so again, maybe this is more for young people or retirees, who aren't so car dependent. it's an experiment. is a whole country going to go this way? probably not, but it could work for a lot of people. >> interesting. diana olick, thank you. >> if you've ever been to the villages, everybody there has a golf cart, and it's maybe not walkable, but it is an electric mini vehicle. it works there. >> i took a vacation to bald head, north carolina. same thing. no cars. it was cool. still ahead, love it or

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we are taking a look at three stocks making moves and this is valentine's day so we are asking should you love it or dump it? we have partner with wall street alliance group. great to have you. we have iac, the internet company. the city remained its rating on a robust division and boy were

they talking up a company that i cover. love it or dump it? >> great to be with you. happy valentines. i would dump this one. this is a complicated business model to understand. i think it's difficult to capture investor entrance. when the market turns down we feel this is a company that will get ahead. for us this would be dumping. >> let's go to robin hood shares up 10% with survived -- surprised fourth quarter profit profit. in q4 total quarterly revenue

was a little bit over $470 million and of that 43 million was crypto revenue so it is important and we are a major player in the crypto market but we are also diversified business. we added all sorts of other resume you -- revenue streams. >> love it or leave it? >> not convinced so for us this is still a dump it. they are targeting the younger generation. one time this generation was driven by the covid and stimulus money and by meme stock frenzy and now they are not active on the platform. the country and earnings were boasting monthly attributes in the first quarter increasing to 10.9 million back in 20 21 million -- monthly act

diffusers were about -- so the trending buzz against them. for us, dump it. but it's finally have stock of 30% after the right hailing company reported better-than- expected earnings in the fourth quarter go ahead. >> a great voice but on this one, yes, we would love it. i think it is a great turnaround story. we would get away from the five finger ditch and the earnings report and focus more on -- taylor swift and the onset. more are going to concerts than to eat out more. you are going for sporting events and when they do that they have to get more riots and i think with race uts it will continue to increase and we

think there's a lot of positive things going on. we just love it. >> thank you so much and for the generosity. >> nice to see you. >> nikki, many and involves a fight for fair pay. plans to unionize next.

we have about two minutes left in the program and a couple more stories we will want to share. the valued of all bit coin in circulation rose above $1 trillion for the first time since late 2021, it is still behind microsoft and apple. this comes as inflows to u.s. but bit coin supports prices. but going up more than 21% this

year, obviously those spot etf's caused a decline in bit coin. earlier when they were greenlighted. now they have come back. >> the latest apple vision pro review is in from mark zuckerberg and metas ceo said yesterday metas -- better value when compared to apple. he did say he liked the high resolution of it and he thought that was pretty good, pretty good. >> he is not an unbiased source. let's move on to cast members at disneyland in california who have sought to organize with the united states by mary stage actors union. the actors equity association seeking to represent 1700 employees in the characters and parades apartment. the park says they already have 30% of the necessary support. mickey, minnie, goofy, dumbo will all be card-carrying union

members. >> the union works really well with disney. we will see what happens there. >> nice to be with you. already, thank you for atching power lunch. >> closing bell begins right now. welcome to closing bell. here at the new york stock exchange. this make or break our begins with serious questions about the rally. whether it suffered a serious blow or was that sell off a big overreaction? the debate full on today and we will ask our experts over this final stretch where they think stocks go from here. in the meantime scorecard 60 minutes to go in regulation, the major average s well attempting a rebound as well. mostly muted success and we will see what we do over this final stretch here if we can eke out a pretty decent finish.