(christina) with verizon business unlimited, i get 5g, truly unlimited data, and unlimited hotspot data. so, no matter what, i'm running this kitchen. (vo) make the switch. it's your business. it's your verizon. all right everyone, welcome to power large. alongside contessa brewer, i am tyler mathisen, glad you could join us. coming up, the magnificent tip stop saw magnificent gains. but recent -- showing the institutional heavyweights are starting to take some profit, but how does an individual investor like you know when to sell? >> plus congress and state governments increasingly are growing antisocial. now new york is suing tiktok, facebook, youtube, and others

for allegedly causing harm to children's mental health. >> first check on the markets, the dow cloying up back now 263 points, that -- that's about two thirds of 1%. the s&p -- and nasdaq trailing a little bit but positive by 27 points, 1:15 eight 86. >> but look at penn gaming, it has plummeted today, those shares are off now, 15%. espn bet investments is really cutting into that companies profits, we'll have more on that ahead of the show. >> one name moving higher, shape shot up a -- strong 2024 outlook, more on the restaurant later this hour. >> and then on the tech front as we mentioned big firms selling off shares of the max seven membership to take some profits, leslie picker brings us those details. leslie, what do you have. >> hey contessa. you said it perfectly, we saw what appears to be a bit of hedge fund profit taking and portfolio -- take microsoft for example. viking and echo street selling

out billion dollar stakes each. yesterday's filings, these are the 13 a filings, shows citadel and 0.72 also reducing exposure to microsoft which had surged 19% during the last three months of the year alone. tiger global and d one pairing back exposure to meta, amazon saw some big streets from jane street and biking but citadel and will rock did add positions there, add to their positions there in alphabet we saw sizable reductions from coast to end -- and viking. berkshire hathaway short 10 million sales of apple but that -- with roughly 174 billion dollars. at your end. tesla, the laggard of the group got a small boost from coast to, which increased its stake. also alongside -- tiger global- ing decreased nvidia well d1 dissolved its stake in nvidia completely. as a reminder, these are snapshots from the end of 2023,

they may have changed in the six wheat sense. those remain in names -- and alphabet likely have continued to see gains from that time, because they are up year to date well apple and tesla holders may a little bit more disappointed. >> a question for you, these are reductions and stake, not necessarily illuminations of the stake in many cases, for example the apple steak that berkshire had, they took out 1% or thereabouts of the total holding. in other cases like nvidia, it may be the same thing, they reduce but didn't eliminate. >> exactly. there are certain instances like i mentioned a viking selling a billion dollars worth of, that was a total, they sold out of that microsoft position completely but biome large, we're kind of thinking bout profit taking versus just a different thought on a certain name, profit taking you see maybe a reduction of ten to 25% of a steak, that to me looks a little more like portfolio rebalancing, maybe they're

looking to crystalize those games at the end of the year as opposed to a complete dissolution of a position entirely, which may suggest that that manager isn't a big fan of that position anymore. of course that reminder again, things may have change in the six weeks since, viking could be back in that name. in microsoft. but these are the filings that we have so we know as of the end of four queue, they decided more microsoft, we're out, we're selling that nearly a billion dollar position. >> leslie thank you very much, be on the big institutions and more on the individual level, how does a retail investor know when to cash in for some profits? let's bring in -- chief market strategist with hightower advisers and president and ceo of form miller in washington. michael, always good to see you. i was watching the movie the other day, dumb money. in which quite a few cnbc people appear. it was really the story of the

game stop mania back in 2021. the big question through my mind , when do i take profits, when do i sell when i make ten times my providence on these talks. when do you, when you've got a good profit like my friend and father-in-law jim who's had nvidia for a year, it's trouble does money, should be so? >> probably sell some, tyler. and thanks for having me, of course. selling is tough and there's a great strategist dawn hayes, old friend from tennessee who says you should be in a full body sweat whenever you make a buy or a cell decision, it should feel awful when you so, it should feel awful when you buy. you saw warren buffett selling today, some apple shares, it's only 1%, but it's a sale it's a taking some chips off the le i

you you have had a historic stake in microsoft up a lot, what is your discipline for selling that stock? >> we've own microsoft for a long time and therefore ways we have for rules by which we sell. if there is a change in our original thesis, if there's a change in valuation, if there is a change in -- disingenuous management or the overall first initial theory upon which we bought the stock, any of those changes will take us out of a stock, but that valuation matters. there are two types of ways to look at that valuation, you say look, that stock is 60 times nd grown so steadily as in the case of microsoft that it is now such a huge portion of my portfolio if that's the case and you have ten or 12% of your portfolio, that would be a huge position for us, it would make sense to lower that risk.

you create a risk both in concentration and you can have risk based on price, both will get me to sell, some will just trim as you mentioned managing the position, others will have me saw the whole position if i really get concerned. >> you know it's interesting is that your advice seems stment, but i'm not meeting the criteria that michael farr just laid out, or michael, i don't know, that thing about it feeling bad when you buy or sell . that's counterintuitive to following your instinct? >> leslie, this is what buffett has always said americans are funny, they hate stocks when they're cheap and they love them when they're expensive. that's why you have to have a discipline. that's why you have to have rules that will protect you from your emotions, and when i say emotions in this case

i mean agreed. if you think that stocks going up 30 times of course you want to buy it, and you want to buy a lot of it. anything that goes up really fast can go really down fast, and i was on cnbc back in those days when the.com was going crazy in the inner seven when it was going crazy, and i preached the same message. >> let's take two stocks and look at them. let's look at your microsoft holding, when you truman? are you trimming? it >> i will trim it in positions where has gotten too big for the portfolio where, it's too big. yes. and if i didn't know any, i buy some today to. because i think microsoft in the long term, i love the stock. i think they've really well positioned and i want to participate so i would sell it if my position was too big and if i didn't have a position of bias. >> let's go to the second one which i began by asking you about, and that's nvidia. i don't know whether you own it but it has tripled over the past year. some people say it's cheap, some people say it's expensive, what do you think?

would you try it if you don't? it >> will, i'm gonna give you the same answer, yes nvidia is an amazing stop, i do not own it right now. frankly i'd like to get see some stronger fundamentals meeting my discipline before i get back in, so i guess i'm saying i'm waiting for a bit of a pullback at this point, it might never come, but that's what my discipline says. if i can't pay this sort of price i will wait. if i had some huge position, if all the sudden i had 10% of my portfolio or more in nvidia, yes i would reduce that position. i would redeploy that money, to other years ago we had a client who was a founder at mca, we sold 10% of his position every year diversified into the s&p 500. he wanted to fire us as mc i prices kept going up and he wanted when the world combine him he really wanted to fire us, and we thought he was right we thought basically we might have been as stupid as he was saying we were, when world come when

under he came down to our offices to think us in person for saving him. so you reduce positions risk you diversify, and you make sure that you can get a portfolio as bulletproof as you possibly can don't worry about making that last dollar, worry about your greed, and make sure that your financially safe and prudent at all times. >> michael farr, always good to see you. >> that was a jackpot of a call, wasn't it. >> that was it, boy yeah. >> remember mc iron bill mcallen? two man, made a lot of money. bernie everest, welcome. >> some investors are taking profit from the mag 7, others think there might still be room to run, specifically evercore isi says apple is underappreciated as an a.i. play. i mean -- senior managing director of equity research at ever core esi. good to see you. give me a sense of what way apple could deploy artificial intelligence that it's not already? >> yeah, listen i think there are two elements of what apple

could do with a.i.. one is, can they use their own large language models to make siri, for example, what was supposed to be a decade ago. truly a virtual a.i. of systems that you then interact with with voice. that would be kind of phenomenal. if you improve ios broadly using a.i., that the one thing that a.i. could do, and i think they're doing at this here. the second part that i think is a lot more fascinating is, can you open a framework to enable local -- inference in the way you do it today in a public cloud, can i do it on my iphone? the answer to that is is faster and cheaper and more secure, security will be important for data. that will be really fascinating, and this to me is a punchline for apple, if you can open up local inference in which with a think they'll do, and there is some -- i'm not quite sure what these kill or apps will be, but if there are apps out of it that could trigger a very sizable iphone upgrade cycle. because if you want local influencing

you probably need a lot more memory, both -- and dram on your phone. i think there are two parts when they can really benefit from it, one is -- but the other one is local infancy and that could unlock a whole different replacement cycle. >> if they put it on locally with that resolve some of the challenges, i don't know crosswise, or otherwise to using a.i. more in apple? >> it would certainly make it a lot cheaper for everyone, if you could run it locally. in that case what's happening is you don't need all the nine billion or -- parameters that are out there on an llm, all of it at the same time. you might want a few hundred are a few hundreds, but you'd run it on your local device. it would be a lot cheaper for everyone, to run local influencing versus doing infringing on the cloud the weights to being done right now. >> how would this affect, do you think, the sort of moat that apple puts around its technology and its ecosystem?

>> if i go to the really make siri what i thought was supposed to be a decade ago a, truly interactive virtual a.i. enabled insistent, that could make the product of a lot more sticky. they would make ios and syrian iphone more sticky. but the second part, right, if you enable global influencing and you can start running a certain set of apps, and i don't know what these cooler apps are today, but you can start running them on your iphone that would actually make you want to go and buy the next an iphone that's a.i. enabled because you want the extra v r.a.m. and the extra memory to run all that stuff. i think it locks you in more into the apple ecosystem, -- successful overtime. >> i wanted to -- 220 price target today the stock is at one 82. thank you for joining us, appreciate it. amid theory on me. >> coming up, social media stepping into a minefield. congress poised to pass a bill aimed at protecting children from social media platforms.

additionally, new york and florida both taking aim at social media giants who are reportedly danger-ing teams. we'll discuss that one next. plus on the menu, key insights into the restaurant industry, the concern from -- betting on china, and we will speak to restaurateur marcus samuel sin, all that one power lunch continues. see that? that's like the gap in my health insurance. gap in your health insurance? yeah, it didn't cover everything when i got hurt. good thing i had aflac. hmmm the cash i got from aflac helped pay for medical expenses, groceries, rent. it really helped close that gap. go, go, go! yay! go aflac! go duck! get help with expenses health insurance doesn't cover at aflac.com wish we had aflac on our team. you can! ( ♪♪ )

welcome back. a bill focusing on protecting kids online from cyber risks is poised for passage now in the senate. emily wilkins has the details, emily. >> hey tyler. the senate is now ready to pass of major executive bill that will hold -- protecting kids mental health. 61 senators, that's a golden number, you gotta get more than 60, and that includes senator majority leader chuck schumer is now supporting a updated version of the kids online safety act. the increase in support is the result of months of

negotiations led by senators marsha blackburn and richard blumenthal, and it clarifies that social media companies have a responsibility to prevent their products from harming kids. that includes features like push notifications, filters, or suggested friend requests. another change? giving the ftc more oversight and enforcement of the new standards. the bill is bipartisan with supporters including senators elizabeth warren, ted cruz, joe manchin, but there are still concerns about whether the bills restrictions would violate free speech. and there are fears that state attorney's general could over moderate content and potentially sue social media platforms that host lgbtq+ content. net choice, which represents meta, tiktok, x, and others called on congress to consider other legislation and to quote, abandoned censorship regimes masquerading as child safety bills. despite the large support in the senate, the bill faces a tougher climb in the house, where the

focus has been less about kids online safety and more about wider privacy bills. but first of course this is going to have to get on the agenda to pass the senate, it's possible that they have the votes but as always time is a factor. here >> thank you for bringing us that, of course states and cities are tackling the problem as they see with widespread social media use among children and teens, this week new york city announced it's doing tiktok, meta, snap, and alphabet's accusing those platforms and others of causing a youth mental health crisis. they say it cost the city money. last month's florida lawmakers advanced a bipartisan bill banning children younger than 16 from using social media. here to discuss, julia boorstin are senior media -- founder a big technology in a cnbc contributor, and and you sell a pack, social media professor at the university of florida. julia, let me start with. you use saw the push back to what's happening in congress right there, the questions over whether there are free speech

amendments, is the pushback mostly coming from lobbyist for the social media giants? >> it's coming from lobbyists, and there is some concern about this element of free speech, and then of also perhaps privacy issues but i think what's really interesting here is that it's not just coming out of congress, we're seeing it from new york city, we're seeing it from all these different school districts and this idea that there is this concern about a mental health crisis. we have seen a big effort made and a pushback from the companies themselves saying we are giving parents the tools to have some control over what their miners are doing, what people under the age of 17 or 18 are doing on their devices, and then we've heard from some of these social media platforms that they think some of the responsibility should lie on behalf of the app store's. they're saying the app store owners such as apple should be responsible for making sure that people aren't downloading these apps in less they have permission from their parents. there is a little bit of finger pointing here as they

themselves work to improve what they're doing, because they don't want to have a product that is seen as toxic by these different entities. >> interestingly, it's sometimes parents that are downloading the apps and helping kids even bypass the age restrictions that do exist on the social media platforms. let me give the response, here's tiktok spokesperson responding to the lawsuit saying that it has industry leading safeguards to support teams well-being including age restricted features, parental controls, and 16 minute time limit for users younger than 18 or more. and then here's meta response to the lawsuit, we want teams to have safe, age-appropriate experiences online, we have more than 30 tools and features, you see i'm correcting the grammar as a go along, to support them and their parents, we spent a decade working on these issues and hiring people who've dug their careers to keeping young people safe and supported online. alex what do you make of this, a lawsuit, doesn't make a difference, is it the way that california led the way on car emissions could

we see new york city and florida leaving the way on social media? >> i think it could make a difference, i think this lawsuit has merit, and the reason why i can make a difference is because some states like montana and ohio and utah have said we want to ban social media for people under 16, and that's been struck down by the courts under free speech rights. i think new york is taking the right position here, not only does it have a laundry list of evidence in this lawsuit it's also saying we would like them to not be able to have users that age, but we also want money. it's one thing that these social media listened to and that's being -- having their money taken from them. i think that's the right way to approach this. sue them, get money, and make it so painful for them to be able to have such young kids on their apps that they stop doing it. they'll actually be serious about it. >> i do question the moral platform that new york city is coming from, because its own department of education has not banned cell phones in schools. where do you come on this,

andrew? >> that's one of the important things, i think there's a difference between new york and florida right now. photos passed legislation that prevents young people in schools from accessing social media. whereas if you look at some of the press conferences from mayor adams, he talks a lot about how he thinks social media is contributing to crime in new york, it seems like they're also looking for money, not saying exactly how much they're looking for but instead saying that the state spends 100 million dollars a year. it seems like a lot of this is lawsuit instead of passing legislation, and that is a big difference because if the state can educate people, it can educate young people about the dangers which most states are doing, that can have an actual real effect on young people. >> andrew, can legislation or lawsuit achieve the desired ends, which is to make children safer, number one. and number two, wouldn't children just workarounds whatever prohibitions are put

into law, codified, or in lawsuits, because the lie? the lie about their age, the lie about whether they have parental to perish permission, the convex some way to get around whatever the barriers are. number one, number two i love your opinion on whether the companies in their very earnest disclaimers saying we are doing so much, we have these people, who are dedicating their lives to protecting children, are they being disingenuous or not? >> on the first parts i think it's 100 percent true, young people will find work around. if you build a ten foot fence someone will have an 11 foot ladder, and young people are using social media, it's hard to keep them off. parents give young people a tablet, or phone when their two, three, four years old, it's a babysitter, that's why i'm a huge proponent of teaching students, teaching young people about the dangers of harms of social media, and that's where social media literacy courses come in, and that's why i'm really excited that the state of florida is one of the states to

actually implement that in grades six through 12. . at the same time, the social media companies we've seen them again again and again go before congress, apologize, say they will do better, they'll be hauled in front of congress months later and make the same apologies. for them it's about getting young people, it's about having young people addicted, it's about having us addicted. the big thing about young people is they want them in the pipe line early saw that become lifelong customers. they also understand that young people are in a lot of respects the taste makers of social media. they want them on there with a kick that dances, they want their on their to spread what's new unpopular and for us older people to enjoy it. >> i saw in and around the super bowl snapchat's new ad and campaign saying we're gonna focus on being together in real life. i don't even remember what is called, it made an impression on me, but why are they doing that? >> snapchat is really trying to distance itself from these other

platforms and saying we're not social media because snapchat is about communicating with your friends. so really trying to send a message that they want to enable people who already know each other to have these interactions, and then they also have entertainment as well and things like maps where you can find your friends but that super bowl ad is a big investment and an attempt for this company to really take their claim and say we are different from say instagram or tiktok or even youtube. i think it's notable that evan spiegel also trying to make the point when he was testifying on capitol hill, were different from those other players, we are about interacting with people either one-on-one or people you know from real life. >> isn't that a little disingenuous? snapchat is the one where the messages disappear very quickly, and it can be used for pernicious ways, can end, as a result of that fact? so that it can be used as a vehicle to shame or embarrass or otherwise injure somebody. so

to say all we're just here trying to put friends together and letting them communicate, come on man. >> look, none of these platforms is without fault or without flaw but i think that they do have different business models. if you look at instagram it's about following companies or people or influencers who you do not know, tiktok is about sharing videos that go from one to many and then youtube is again about the power of these influencers in the people with these massive platforms. they do serve a different purpose, and i think this question about whether snap is more about communication doesn't mean that they're not going to be a platform where people can do bad things. it's just a different type of communication, more of a 1 to 1 than a one to thousand. >> i see andrew not being there, we have to leave it there. and alex, i promise you will get you in more of the next time around, okay? you'll come back? >> sure. >> okay thanks.

thanks julia, andrew, appreciate it. all right scroll, up scroll up, there we go. as we head to break, a quick power check, on the positive side zebra technologies. yes indeed. what's he doing? he's rocking right behind? me >> it's a circuit in here. >> despite missing -- analysts are happy. on the negative side we've got west pharmaceutical seeking -- issuing week over here, we'll be right back. trading at schwab is now powered by ameritrade, giving traders even more ways to sharpen their skills with tailored education. get an expanding library filled with new online videos, webcasts, articles, courses, and more - all crafted just for traders. and with guided learning paths stacked with content curated to fit your unique goals, you can spend less time searching and more time learning. trade brilliantly with schwab.

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welcome back everybody, crude prices today -- papa. >> top sector rising -- big individual movers, starting with diamondback hitting an all-time high. up more than 16% this week alone after announcing the deal to buy endeavor energy on monday. matching players targeting resources rising to the highest level since 2015, on the back of earnings. not nap gas producer m hero on the move despite the massive drop in that gas which is down again today.

the company reported last night that looking forward after paying down debt, the majority of free clash flow will go to share buyback. not a name we talk a whole lot about, but check out shares of drilling equipment provider patterson uti, jumping some 13% after it's q4 update, with raymond james -- with activity and margins holding up better than expected in a seasonally slower time of year. now we should also note that the white house, that the house i should say, just passed a bill to reverse president biden's pause on building lng export facilities. although the bell still has to go to the senate. contessa? >> pippa, when in doubt, throw it out. it's a company phone anyway, it didn't really matter that's all right. let's get to bertha coombs for a cnbc news update. >> i hope our phones okay. in the meantime, contessa, nathan wade the prosecutor accused of having a relationship with fulton county district attorney fani willis is still on the stand this

afternoon. donald trump and codefendants in trump's georgia elections interference case are accusing willis of misconduct. willis, who could be disqualified from the case, is expected to take the stand as well after another witness claimed earlier today that the relationship between wade and willis began years earlier than the two had claimed. new york's governor is pushing to criminalize deceptive use of artificial intelligence. -- presented new legislation at in the state budget that would add a misdemeanor for unauthorized uses of a person's voice. and the company that makes tinder, hinge, and the lead, is accused of gamifying love. six plaintiffs filed a lawsuit accusing match group of designing their platform to hook users rather than find them a romantic match. they say the tactics don't lineup with the company's claims that its apps are designed to be deleted. match called the lawsuit ridiculous

and said it has zero merit, although i'm tempted to say they just swipe left on the whole thing. >> you know, it makes for an interesting story though, bertha, thanks. still to come will speak to -- about how soaring food costs have affected his business, and his customers. we'll be right back. do you have a life insurance policy you no longer need? now you can sell your policy - even a term policy - for an immediate cash payment. we thought we had

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welcome back to power lunch. restaurants are bracing for a tough year ahead. mcdonald's franchisees, for instance, are looking for potential headwinds. kate rogers covers mcdonald's for cnbc. what are you learning, kate? >> i contessa. mcdonald's franchise the advocate speaking out on the company's plans to continue to make mcdonald's a destination for value and discounts, they agree with the goal but have some different ideas of how to get there. cnbc obtained a copy of a letter from the national owners association, that's a independent advocacy group of not mcdonald's franchisees. the letter responded to some -- recent earnings calls as ceo -- lower income consumers were pulling back somewhat and that value offers like they needed to bring them back. they said -- not a new or unique

message, value has always been at the our brands core. that you should not be discounting our decor and iconic menu items. the groups points to opportunities like bringing back snaps and testing out affordable beverages as a way to lure in consumers. mcdonald's for his own part says -- and that franchisees continue to create impressive returns which average -- with average cash flow rather up nearly 15% near 2018, and even when accounting for inflation from 23 it says was one of the highest franchisee cash flow years in the history of the company, and -- since the -- but they're not keeping up with inflation. they say trailing cpi by about $25,000 per location in 2023. >> kate, mcdonald's and starbucks another restaurant that you cover have significant business in china. we have heard a lot of commentary about concerns about consumer spending their, we've also heard about long term growth opportunity, give us the

glass half empty, the glass half full picture? >> contessa, we'll start with starbucks, it reported sales growth of 10% in china, -- did note that the chinese consumer is currently a bit more cautious, but is leaning into being the premium offering for chinese coffee drinkers. mcdonald's, we were just talking about, another major u.s. brand the plans to expand more in china. ceo chris kempczinski said back in december it could one day be the company's largest market in the world. it's planning to add about 7000 locations in its international developmental license market segment, more than half of those will be plan for china. finally, young china, that's the kfc parent company, had a stellar quarter. the company says it is currently serving about one third of the chinese population. it aims to get to half of the country's population by 2026. it's focusing though on expanding in lower tier cities. definitely a different strategy there, but really all of these iconic american brands are doing quite well in china for now.

>> very interesting. a lot that's interesting there, looking at your. cool, yum china. thanks kate. national restaurant -- atop a trillion dollars for the first time in history this year. additionally another 200,000 people are expected to join the restaurant workforce. for more on the state of the industry let's check in with our next guest, who owns and operates more than a dozen restaurants across the country and abroad, joining us now -- mr. samuel wilson, good to have you with us. what is the biggest challenge we face today, and how are you surmounting? it >> thank you so much for having me. right now in my restaurants i have american dream markets, bar and grill live, one of those smaller private events rooms. there are several challenges in hospitality industry of course but i love it, and i'm bullish in the space because i do think people still enjoy, or want to go out

and needs, and want to be social, so it's about understanding what type of restaurant you have, and how do you meet that customer, and how do you create value. there has to be value in its category, we're a family-owned restaurant, the majority of our restaurants or family, like red rooster -- really family oriented restaurants with one higher and metropolis. >> i guess the answer to the question then is that the broad issue is finding out how the consumer defines value and then figuring out a way to meet that. but there must be specific things that are notably challenging right now. i can think that labor cost and availability is one. i could think that food inflation would be another. and rent might be a third. >> no, i mean i think about it like this. all of those things have always been very difficult.

there are restaurants, the word restaurant is very large, my restaurants my have the opportunity to go back to my landlords and create a strong as possible deal, and higher all restaurateurs to have that dialogue with the landlord because yes inflation, price increase, all of it really hits your bottom line. but i still think you find your core menu, you go through your menu you find value in that menu that works well for you as a restaurant and for the customer, then you take advantage of free opportunities like social media, that's a place where you can really, no one buys ads anymore especially independent restaurants. it's really all about pushing your social media, and meeting the customers wear their app. for me as an entrepreneur i've got to be really creative, i gotta keep working at it, i know it's tough times but this is the business i'm in and i love this industry, i love my

people, i love my staff, i love growing it, so i know we have challenges but i also believe in it, although it's difficult. especially first quarter. >> we're paying an awful lot of attention to wages and labor costs, i wanted to ask a question about young people. because we are hearing so much about how gen z doesn't show up for work, they don't want to work, they're late, they think nothing of calling in sick or for mental health days. what do you see with your younger workers, what kind of value are they bring into the table in what are their challenges? >> i don't see that it all. actually the majority of the staff, especially here in american dream, they're about 24, average is about 24 years old. the staff shows up, they're eager, they want to learn so i don't think it all, i think it's part of every generation is gonna say that the next generation isn't working hard, i think that everybody says that, but i feel very blessed to work with very hardworking young people. and they want in.

they want to learn and then they want to go and do their own thing, so an average person today at 24 might not have one job that they had before, today they might have three jobs, they might pop up on the weekend or might be that they're selling something online. and at the same time, if they're working in my restaurant, so as an owner i have to work with that and meet the work force weather apps. we have many programs. >> i'm curious because their digital natives, are they bring to the table ideas about how to effectively use technology in ways that are helpful to your overall, business? >> i'm laughing because i'm not digital native, and i get reminded of a buy them all the time. so yeah, obviously we have this amazing opportunity now to meet customers through social media, so of course they always say hey you know what's, are posting to still, we can make it better, they constantly remind us if we are not fun enough or were not

informative enough about what we're doing online, so i do think i look at -- i came up through mentorship and all the sudden -- but it's also about n teach you about what's happening through the social media platforms, so we can opt out there. i think in your customers are from all ages, your staff have many different ages, so it's really important to really listen as a leader and if there's value who doesn't want to improve? we just want to maximize? it's not about -- closed doors, chef knows everything. those days are gone. you have to stay much more open. it does require more listening from leadership. >> but the chef knows a lot. marcus hamilton, congrats on your restaurant, metropolis marcus lie bar and grill. great to see you. >> have you been to american dream? >> no i haven't. >> it is audacious. it is immense, it's next to meadowland's -- >> i'm overwhelmed. the offerings are so great. >> it's got everything, a water

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>> welcome back. a check on the bond market and you know what that means, rick santelli tracking the action in chicago. >> a lot of numbers this morning, retail sales, if you look at a chart of retail sales, the month over month change was the weakest since march of last year. we will call it 10 months. but the whisper number was on the weak side as many traders were expecting us to take back some of the strength we saw at the end of last year retail

sales for covid , even though we are dropping a bit, the spikes have run out, the government money running out, the spikes in 2021 and a small one at the beginning of 2023, much more normalized like before covid. cpi tuesday through the lens of a two year yield, we have come down and getting back in those ranges. that session, all treasury yields closed at 2024 high yields and they are still affected by that and have not slid very far below those levels . pay close attention to the cpi /inflation affect, especially before the number tomorrow. if we look at what has been going on with the 10 year, let's open up the chart year to date, barely off of the tuesday high-yield close and high in treasuries back to the end of november and early december last year and we will continue

to monitor how the inflation numbers are going to skew investor confidence in some of those raindrops we are expecting and what the lasting impact may be with respect to the equities which have a lot of green despite that you'll jump on tuesday. after the break, more power lunch is next .

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session highs come up 336 points . >> a bust for shares of penn entertainment, down more than 30% after a massive miss in earnings as brick-and-mortar casinos are their bread-and- butter and those casinos largely met or exceeded expectations. but the interactive segment was a dragon . in this case, interactive is code for sports betting, online sports betting, and costing them a pretty penny. they said the losses were greater than expected and blames how much the company spent on promotions to acquire customers in the newly rebranded sports book, espn bet . it did not help the two weeks that followed a large saw games that ended in customers favor as power lunch said there were two of the lowest whole percentage weeks in the nfl season. draftkings had a wallet to their bottom line as well. power lunch is painting a positive picture about the

future as customers bet more in december and january that in their history. 190% over the previous year. it added more than 1 million customers and made deals for sports betting licenses in north carolina and new york which is a big deal with a potential to reach 9% more of the u.s. population. that will cost penn entertainment a lot of money , they are now in a $400 million ebidta loss. we will see later on the draftkings earnings . >> when did espn bet come out? >> mid-november . it was into football season. >> up 190% over last year. >> for december and january. >> is that the reason? >> they are paying a lot of money to acquire ustomers and let people know that espn bet exists . they are getting a lot

of exposure through espn and its talent and they are relying on that in terms of keeping the upward trajectory. >> very interesting . we have 15 seconds left, let's go make a bet. thank you for watching power lunch. >> closing bell starts right about, pause, now. welcome to closing bell, i am in for scott. we begin with the s&p 500 on the verge of recapturing all of the tuesday sharp drop on the slightly hotter inflation rating with the index now slightly green for the weekend flirting with an all-time closing high set last friday at about 5026. small caps and financials outperforming today, resuming the leaving of mega caps