the road to opportunity. is often the road overlooked. at enterprise mobility, we guide companies to unique solutions, from our team of mobility experts. because we believe the more ways we all have to move forward the further we all go. welcome to power lunch, everybody. walking on the path of totality . treasury secretary janet yellen in china today with tough words for china, saying it needs to change its policies on industry and the economy. we will get into more on what

she wants china to do or not do coming up. everyone is talking about the solar eclipse today and lots of people are traveling to get a better look. we tell you about the hotspots which aren't normally vacation destinations but first, a quick check on the markets. we've seen them fairly flat today after more volatile last week. up 1/10 of a percent, the s&p 500 and nasdaq up a similar amount. shares of tesla surging nearly 6%. elon musk teasing a tesla robo taxi and teasing that it would be unveiled on august 8th. >> bit coin and told rallying. bit coin at 71,006 99 . we begin with today's trip to china by secretary janet yellen. sarah joins us now. some tough words but also a

sense that the relationship bilaterally is in a better place than it has been in some time. >> reporter: good to see you, tyler, from beijing and the treasury secretary did say, undeniably, she said it's in a better place than where it was a year ago. she's made all the front pages of all the state media and newspapers since she has been here and she's been on the ground in china for four days. here's today's paper and the headline reads u.s. finance secretary visits china, reiterates no decoupling. and part of the message was that in our interview, she did say she does not want to discourage american companies from investing in china. didn't want to discourage investing in production and manufacturing even though we've seen some factories and companies pull out of china. but she did have this harsh message which she was scolding them for, flooding the world with cheap, green, technology

products like evs and solar panels. we talked about it and i asked her why it was such a problem and how it works. >> some of the techniques they use subsidizing the firms very heavily and then, supporting them even when they are losing money when demand is weak, relative to this capacity to supply products like solar panels. prices just plummet and it can drive our firms out of business and this is something that is unacceptable from the u.s. point of view. and many of our allies feel the same way. i think they understand it has been part of their industrial strategy. it reflects on the importance that they attached to advanced manufacturing. it also reflects the shortage of demand in your economy so

that they are investing heavily in manufactured goods that can be exported and these are things that really can lead to trade tensions going forward, which we would like to avoid. >> i was going to ask if you expect them to do anything about it. there was a headline today that the minister in china said those accusations are groundless? >> i think they understand where we are coming from and they have agreed to continue an intensive dialogue on this issue. i think they understand it's important and they do have tools that they could use, perhaps that would take a wild to have. >> export restrictions? >> i'm not thinking export

restriction so much as shifts in economic policy and a reduction in the amount of particularly local government subsidies to industries. >> reporter: i asked if we could see tariffs on some products if they don't do anything and she said everything is on the table that she's clearly hoping that they change to focus more on consumption and manufacturing and here's a good way to put it all in perspective. if you look, the atlantic council broke down the growth in ev exports from china over the last three years. they have surged 1500%. it is real and the solar industry is an early example of how damaging it can be for industries around the globe, including china. if you look at two big china solar producers, their stocks have underperformed, the entire market. they are down double digits this year. all sorts of worries over capacity, putting pressure on prices and manufacturing solar panels where there isn't enough

global demand. this is weighing on these companies and that is what the secretary said as well. it hurts the chinese companies and economy and not just potentially threatens the u.s. companies. as far as evs, i saw firsthand how popular they are here. one third of new car sales in china are evs and these dalit -- dealerships and -- are all over the place. i even went into one of the new robo cars. a collaboration between the chinese auto giant, and it's a self driving car. you talk to it, it talks to you. i didn't drive it but look, $30,000 is the starting price. it's why so many american and european automakers feel threatened by it and it's cool. i was asked earlier about the quality. it didn't look cheap or feel cheap and it was very fancy and i think this is what yellen and

others are so worried about, in particular, evs but also solar panels at these low prices and having u.s. prices struggled to compete. >> is there or is there not legitimacy to these accusations that they are subsidizing their own industries that we in effect do the same thing. we have subsidies on ev purchases for a long time and probably still do. there are billions of dollars going to semiconductor manufacturers and in other ways, that we subsidize the very industries that china would like to break into here in the united states, for example, selling ev cars. >> it's legitimate and clearly that is what's happening. we did talk about this with the treasury secretary. here's the big difference. part of it is how dominant the chinese industries are. solar panels, 80% of the worlds solar panels are supplied in

china and secretary yellen said it's important to have that diversity of supply chain where it's not just coming from one place. clearly, that is a risk so that's one of the problems and the other problem is the u.s. is a consumption driven economy so for us subsidizing industries where we want to see manufacturing and green technologies is a far cry from china which has been practicing industrial policy and supply side stimulus for years and flooding the market. at the other criticism would be that what they are doing is supplying too much more than the world can handle. and that's not to say the u.s. is doing it, they are trying to get them to be u.s.-made. so there is the distinction in terms of the subsidies in the u.s., but no question, other economies have called out the inflation reduction act as

protectionist for prioritizing the u.s. and policy on the semi conductors. we are trying to do the same thing but i think what they are trying to argue is that from a much smaller scale, we have to keep american companies competitive against the chinese manufacturing which has been their entire economy. >> if it's a difference in method it's a difference in means and scale, what china is doing compared to what the u.s. does, but i appreciate you taking the question. terrific interview and we will see you when you get back. thanks a lot. for more on what secretary yellen's visit will mean, we bring in a cnbc contributor at longview global. let's talk about china's evs which are, i think, they have the largest ev manufacturing company in the world. surpassing sales by tesla. how long can the west and the united states, in particular, stiff arm these automobiles

from coming into domestic markets? >> that is a key question. when we look at sarah's interview with the secretary, which, really fantastic reporting on this trip, but secretary yellen said we don't stop chinese product from coming into the u.s. there is a 25% tariff on those but if you want to sell them to the market, you can. but i think when we look at the technological advancement of these vehicles and the cost of these vehicles, at some point, the question becomes when will american consumers start to demand other, cheaper options if we really want to transition. i think our policy will remain in place for quite some time but this really falls on the back of consumers and in this area, voters, as to whether or not they want to see some greater, cheaper options in the market. >> right, but even like a g lee

which owns volvo, you could argue they are making more moves like this and something that's been really interesting to me is the auto manufacturing companies. a smart phone company that has been able to develop an ev. we just had a report that apple is shutting down its project. what is happening differently in the chinese economy to allow for the faster development and cooperation between tech and auto. >> when you listen to what happened in the rollout last week, they were very clear that in their company, there are so many tesla engineers and former employees from tesla that's helping them to do this, so this is what we've been saying all along, that as long as the chinese market needs you and see values, you are welcome but the minutes there is the ability to compete and eat you,

then you have to really ask yourself, what is your long- term future in china and shall lee literally made the case last week talking about how many of tesla's engineers find themselves over in their production. >> it's incredible what it's been able to pull off. a broader question in terms of bilateral inflations, yellen is very popular among chinese populations. social media tracking her every move. but in the last hour we were talking about how they should prepare for rising tension because there isn't anyone to follow secretary treasury yellen who is as popular as her. what does that look like a few years from now? >> that's a very good point. i don't want to take anything from secretary yellen. she's had two really good trips and they've been pushing what

we know is the san francisco agreement to keep high-level -- open but in many ways this is low hanging fruit. china knows this is an easier conversation for them to have with secretary yellen but how does the entire relationship help? we have not had a senior-level secretary of defense to his counterpart level dialogue on the middle side. we have real problems right now in the south china sea with the philippines and china literally tash the philippines is a treaty ally so we have to take a step back and say, there has been some progress over the last year. last year was a low bar to measure but we still need to see, progress in other parts of the relationship. it's something i'm keeping a close watch on.

>> would you quickly address the question i asked sarah? how much legitimacy there is to the chinese rejoinder that, by gosh, you guys subsidize your businesses too and sarah pointed out that it's a question of scale and method and industrial policy. how do you see that? >> i see it the way sarah sees it. the same way the secretary made this issue out. but many of our allies have issues with the i.r.a. and the chinese have been pretty impressive the way they've tried to handle it. on the one hand it's been a carrots and sticks approach. they say we are going to have this balanced growth dialogue with the u.s. but i don't think the balanced growth dialogue would do much to trying -- change. they've also filed with the wto saying precisely this, that this is industrial policy and we would like to see the

u.s. change their behavior. so i think there is some legitimacy to that argument but the scale come a scope and degree to which it happens and the actual lack of a domestic base of consumption for all of that supply really is the difference. >> thank you. always great to see you. >> one player -- part of the plan -- spending billions of dollars to revitalize the chip manufacturing industry in the u.s. we are learning of another $6 billion being spent. megan cassella has those details for us. it's a little twist though, it's not an american company . >> the latest winner is taiwan semi conductor. they will receive 6 1/2 million dollars in grants and $5 billion in loans from the commerce department. tsmc is expected to invest $65 billion if not more in phoenix, arizona. they will be focused on creating those two nanometer

chips. these are the most highly sophisticated ones that power ai systems and it makes them more strategically important for the u.s. as it means to compete with china. >> right now the u.s. makes 0% of these leading edge chips in america and tsmc is saying they will start making this in america at scale. so it's good for our economy but it's also good for our national security. >> the goal with all of these awards is to make the u.s. less dependent on china and other countries for these chips. u.s. officials want to move quickly here but tsmc, intel, and other suppliers in the past have all previously had to announce delays because of labor issues. while there's $50 million included in grant money for workforce training specifically, it's still an open question of whether they will be able to meet their goal of having all three up and running in arizona by the end

of the decade. >> there's only three main players globally who have the ability to manufacture these high-end chips. samsung, tsmc and intel. where does this leave intel and their ability to develop a new business for them and compete against samsung and tsmc which have well-capitalized years and years of experience. >> this is a challenge for intel. we've seen a really sizable award already. they are going to be competing now to be doing this on u.s. soil. tsmc is doing this at scale in a huge way in taiwan. if they are able to bring it over to the united states and use u.s. workers and immigrants as well, that's going to challenge intel and say we are the dominant player already overseas and now we will be the dominant player in the u.s. and that makes it much more difficult for intel to get a foothold here. >> the federal government says as long as it's in our territory, it's a win. thank you very much.

coming up, the makings of a pullback in place. have the characteristics of the market changed? plus the eclipse capturing consumers complete attention as well as some of their wallets. we will discuss when power lunch returns. even if you live in a bubble, you can't stop workplace accidents. so talk to your agent about workers's comp insurance from pie, or visit

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plus, buy one unlimited line and get one free for a year. i gotta get this deal... that's like $20 a month per unlimited line... i don't want to miss that. that's amazing doc. mobile savings are calling. visit xfinitymobile.com to learn more. doc? welcome back everybody. stocks flat after a bit of a rough week last week. was that a brief pullback in a continued market rally or has something actually changed? mike santorum has been pondering this question and joins us. >> in terms of magnitude, not much has changed. a 2% decline in the s&p 500 from peak to close last week.

that's nothing. however it was the first 2% climb that we have seen along this route since october. the other piece is we've gone the longest stretch between making new record highs as we have since january when we first clicked to a new high. it's only a week and a half so we are slicing the story pretty thin but there are reasons to wonder about this because we have some pent-up capacity for volatility. we have treasury yields and oil prices both threatening to break out of the top end of this comfortable range they've been in since december. of course we are also dealing with slightly less favorable seasonal patterns especially in election years. we had a 10% rally through the first quarter as we did this year in the s&p. it's always meant that ultimately there were higher prices by the end of the year but in no case did you avoid a 5% or 4% pullback along the way. all of which is to say you should expect a little more of a two way market here. earnings will come through pretty soon and we will see if that is the test. inflation is very good

obviously but good for it to be front and center. even if the economy is good they are going to be cutting rates at some point this year if inflation cooperates. if they are not cutting rates it might be the economy's job but it also probably means inflation has been sticky so it feels like a little bit of a trickier backdrop for those reasons. >> i think back to the there is no alternative era when it was the only place you could make money was in inequities and now it feels different. you can make money. you can make a 4.4% yield on a 10 year and what you can get on a cd is not bad and gold is at a record high and bit coin is back at 71,000 so there are alternatives. >> there are. no doubt about it. i've always been of the mind that even when we were saying there was no alternative in the 2010s, investors didn't behave that way. it wasn't as if they were shoveling money into stocks at a massive rate. and it was a matter of the market went up and did the

allocation for you in stocks but the broader point stands. you do actually have different pieces of the portfolio doing work for you right now if you are diversifying. all of that said, $150 billion into equity funds so far this year. when the market goes up 20% people don't want to hear about 4%. >> absolutely. thanks, mike. >> our next guest says she wouldn't be surprised to see a flat market or a pullback but she's quick to point out scenarios due to a stronger economy which is a good thing. that's bring in stephanie lane, at hightower and a cnbc contributor. as we go into earnings season, what do we have to see? beats but forward guidance as well. is that what's going to provide the next leg if entrance rates are uncertain now? >> i think the market is digesting the cuts. is it zero, one, two, or three?

i don't think it's going to have a material impact even if they did three on the economy. we just raised interest rates by 550 basis points. 75 basis points is this going to do anything? psychologically that would be positive, but the reason they are actually being more hesitant on cutting rates is really because of the growth that you mentioned. we are going to grow 2.5% in gdp. or something close to that in the first quarter. we just grew 3.4% all of last year and at the same time i know inflation is stubborn at three or 3 1/2% but we are down from 9.1% from the peaks. we've made progress. so we have to wait and see. we are all data dependent but the economy is growing for the right reason. the job market over the last 12 months, we've seen 250,000 on average jobs for -- wages are up 4%. if you want to switch to another job you're getting 10%. manufacturing. you did a great job on the

supply chains and manufacturing initiatives on the physical side that's leading to better ism's. we are seeing better ism's and lastly housing is bottoming. we are all watching housing last year which saw a recession last year yet, the stocks did quite well but we are starting to see the results when it starts doing better. so you add it all up and earnings will be better, eight or 9%. i do think you are going to see not only topline but margin expansion and you are seeing a broadening into other sectors doing just as well in terms of earnings, delivering and i think you continue to have this market. lots to be excited about. >> what about the other stuff under the surface that our other guests have been pointing to? some of the geopolitical tensions and jamie diamonds shareholder letter this morning was a lot more cautious.

>> there's plenty to worry about absolutely and what happens is i worry when i don't worry because that means i'm being complacent. i always want to know what's out there that can actually surprise us. we kind of know this stuff as of now and certainly, energy bothers me a bit and i do think maybe the headline on energy could come in a little hotter because of that. so, but the core number i think will show some progress and that will be encouraging. geopolitics, i don't have an edge on that at all but it's been with us for a couple years now and we are able to see last year 26% growth in the market at nine to 10% this year. so a lot to worry about but a lot going well and if we do see pullback, i want to be a buyer. >> more broadleaf financials. why and which ones? >> it would be really interesting on friday we get

j.p. morgan and wells fargo and i do think the numbers are going to be good. i do think you are going to see better net interest income for both companies. you will see much better controls on expenses as well. and you are going to see capital markets inflect, i think. and that's just the beginning. so, jp is a little expensive for me. it always is and it should be because they are best in class but i think if you can get wells fargo at what -- 1.1, that's very interesting. but i own bank of america because it's the cheapest of the three. at 1.1 times and i think they are going to benefit from better wealth management, better capital markets, better expense control, and i think they will continue to take share in capital markets and then we have a new ceo we have to get through but i do think the evaluation, especially relative to goldman sachs has narrowed substantially. >> we have a nice annuity business in the wealth

management era. thank you very much. ahead on the program, the race to clean up the toilet paper industry in today's clean start. we will be right back.

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bond yields moving higher ahead of the data that come out later this week. rick joins us now from chicago with more. >> it isn't only data. tomorrow we have 119 billion in supply, 58,000,000,003s, 98 billion tens, and we will bank a big difference with the cpi, ppi presence among the supply. if you look at the last three sessions, which jump out at you when you see 210s and 30s there, is this is the consecutive staircase session. we reversed a little bit on the longest like 20 and 30 year bonds, but that is a very aggressive formation and we continue to hover at the high yield closes not only for 2024 but going back toward the end of november. and if we look at the difference between tens, it is

really carving out a spot about 200 basis points. our tens are 200% higher than european tens. this is something to pay close attention to. the whitest base we've seen since october last year. and finally the dollar yen. we can't continue to look at this without knowing that the constant lower value of the yen is going to figure prominently into that export economy but at a time where they are going to be snogging up, we are in the 14th consecutive session where the dollar yen has closed above 151. those are levels we haven't done since 1990. these are 34 years since we've had this many at that level and it will continue to be something big in terms of influence on all the other major central banks. back to you. >> thank you very much. let's get over to martha

for a cnbc update. >> president joe biden is in madison wisconsin this afternoon to announce sweeping plans to provide student debt relief for an estimated 30 million americans. proposals are aimed at canceling runaway interest for those who are eligible for certain forgiveness programs and people experiencing hardships that prevent them from making payments. the supreme court struck down the president's original plan to cancel up to $20,000 in ebt for 43 million eligible borrowers. hamas has reportedly rejected the latest israeli cease-fire proposal in gaza. a senior official told reuters about the decision just hours after the group said no progress had been made in the negotiations. it also came as israeli prime minister benjamin netanyahu said a date has been set for an invasion of the southern border city of rafah. and the cdc is asking states to be ready with rapid tests for bird flu. it comes after texas reported a human case last month and a person who had close contact

with infected dairy cows. despite the call to action the agency says the risk to the public remains low. that said, they are saying don't have raw milk or cheeses or things like that. best to be safe. >> thanks. next the eclipse economy hype around today's solar event benefiting some problem stocks. that story line when powerline -- power lunch returns. (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.

welcome back. the solar eclipse working its way across north america right now from texas to maine. millions of americans standing outside hopefully with approved glasses to catch a glimpse. one of them is nbc's george solis. >> reporter: good afternoon.

on board the historic intrepid where history is being made as this partial solar eclipse begins. one of the best views in the five boroughs here. take a look at everyone here trying to grab a good seat for the partial eclipse. we are not in the path for totality. that's not stopping people from having a good time. we are expecting 90% coverage which is still pretty good when you think about it and last i checked, when i looked up and put on my special glasses, it is definitely starting to take effect here. very important to wear these glasses when looking at the partial eclipse. the best i can describe it, think of -- so you can see the moon, starting to block out the sun right now and it is remarkable. the cosmic ballet that we have been referring to, once-in-a- lifetime events. the next one not taking place for another 20 years over north america. here we spoke to an astrophysicist of all people on board. they told us this is like the super bowl for them. so many things they're hoping to study and learn as we look at the path of totality where things are going to get dark. how animals react and the climate reacts. it is quite a phenomenon. you can see the crowd starting

to grow with a lot of people taking special interest in this cosmic covalent's . >> i can only imagine how people reacted when something like this happened in early human history. who got the idea that the intrepid would a great place to go watch an eclipse? which it is, but it's kind of interesting. >> it's such a great historic place to go watch. high up, history was made here, you get to view the historic moment and we are an hour away from watching the eclipse taking shape here. they knew at the museum that they have a lot of history, celestial history here which makes it a perfect background to have an event like this so they printed up 6000 or so of these for people. a lot of places trying to get a good glimpse of this but here i

have to say not just a good view but it is really cool to be up here. >> george, thanks so much. >> lots of space too. so it can accommodate a lot of people. while the eclipse is turning some unlikely tourist destinations into hotspots but just for the day. we are looking at the travel impact of all of this eclipse excitement and here is where airbnb's will shine too because these are normally places that get a ton of tourists. >> that's the story. it's being seen as a big opportunity for the travel industry. prices soar across the nation. millions of travelers traveling to these smaller, lesser-known places along the path of totality where occupancy is higher than what we would see during big holidays, july 4th, memorial day, take a look at ohio. oswego, new york, rockland, maine, texas which has a population of 7000 homes there on average going for $1300 tonight. that's according to air --

which does compile data from airbnb and verbal. they have more exposure to smaller towns than the hotel operators. the eclipse coinciding with spring break also means potentially longer lengths of stay for families. the numbers reveal a 1000% spike in surges as americans look to experience this once-in- a-lifetime event and delta running two special flights today. hurts seeing a 3000% jump in bookings over the weekend. so it's no doubt being seen as a sales opportunity for big travel companies because now following two very strong years for the sector, this year not so much. they are going to try to grab onto the opportunity. >> it's amazing how it's rippling through the economy. coming up, a startup using bamboo to help clean up the toilet paper industry.

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most of us use this product every day even though it is a big threat to the environment. we're talking about toilet paper. american tp is mostly made of wood pulp which comes at the cost of canadian forests but there's a growing business trying to clean it all up. >> yeah, toilet paper wipes out thousands of acres of canadian forests each year and demand is growing but so is demand for more sustainable alternatives and the competition is on a roll. some of the most popular toilet paper brands on the market like charmin, scott and cottonelle

score an f on sustainability from the natural resources defense council because they are made almost entirely from wood pulp but new products from whole foods, green forest, who gives a crap, and a startup called real paper are transforming an industry that is ripe for disruption. >> we use bamboo for our paper. bamboo is a grass, not a tree and one of the fastest growing plants in the world. we found it's the best, sustainable resource to create high quality paper good items. >> he says bamboos longer fibers make it ideal to bounce softness and strength. >> it's a small change but as people transition to something to make something more sustainable to have a meaningful impact. >> consumer demand is rising fast which has investors more interested in some of the startups and potential payoff. >> this is a large category with major companies playing

and certainly when we invest we say, is this a business that one of those players one day may want to buy? >> in addition to bluestein, real paper is backed by square circles, montage, great oaks, and mandel. total funding so far $14 million. real paper has to ship bamboo from china which earns fossil fuels so the company purchases carbon offsets. bamboo farms are now being developed out of degraded sugar plantations in central america, so the hope is they could soon get it from a closer source. >> i must say that the brand name, who gives a crap, is the most inspired branding i've ever heard of. what about using a bidet as a better solution to all of this which doesn't involve any plant product? >> it is obviously a cleaner solution both physically and environmentally but then you get the argument, what about using water, so i looked it up.

one shot of the bidet is 1/8 of a gallon of water whereas one roll of toilet paper takes not only a pound and a half of wood pulp but also more than six gallons of water so if you're not in an area that is drought stricken, it's better to use the bidet and if you are in a drought stricken area use sustainable tp. >> when you go back to california, the bidet is not the better option. i learned a lot from that. thank you. >> good stuff. still ahead, pilots, power, and precious metals. that is next.

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♪ time now for today's three stock lunch e. here with our trades is victoria greene, founding partner and chief investment officer with g squared private wealth. first up, united, the airline having to delay two new routes amid restrictions while the faa carries out a safety review. shares of ual are up about a percent. what is your trade here. >> url is a sell here. i think they're facing a lot of

institutional, they're having to pay the piper. faa investigation is not over yet, but let's step back. let's say they were operating amazingly. they're constrained by routes, they have salaries and labor, which their number one cost, which is going to go up. we estimate 15% because of all those nice new contracts and fuel costs which have been a bit of a tailwind. if you're not flying more routes and not flying more people and not paying more money to fly your routes, how are you going to earn more money? i don't bite into united here. >> let's move on to ge vernova. a new energy company spun off from general electric. it got its first upgrade from overweight to neutral. jpmorgan the source there shares up about 6% today. your trade on this one. >> for me it's a hold. i see some potential here. they do face a lot of headwinds especially in their win division, not to make a horrible pun on wind. their offsharehore wind has bee huge problem. they need it to actually make

money. they're starting to limit the loss, they're maybe profitable in '25. there's a lot of otential. like almost every ge spinoff, they're going to increase productivity. some of that they have to execute. we'd like to see how this company performs. the power unit, 50% of it, looks like it's going to continue to generate solid free cash flow. it's the wind sector on shore and off that we have questions about. for me it's a hold. >> gold hitting an all-time high sitting below 2,400. is it vulnerable to a setback now? what's your trade? >> i mean, for me i like at this like the 1979 runup. gold moved up almost 170% in 1979 alone. it has the ability to do it. gold has been trading in a huge base. it was 1900 back in 2011, 2000 basically when we ended last

year. we traded in that range for a long time. there's legs for this, and then you push higher. plus, you're getting so much bielg from central banks. you're getting buying from international emerging markets investors that are concerned on inflation, and currency devaluation. i know we're very stable here in the united states. the rest of the world can face some very extreme currency fluctuations. i know it's run a lot. it's done this in the past, and history says it has further to run, so i see this going to 3,000. >> victoria, thanks for all your insights, victoria green. and we've got more "power lunch" after the break. [alarm beeping] amelia, turn off alarm. amelia, weather. 70 degrees and sunny today. amelia, unlock the door. i'm afraid i can't do that, jen. why not? did you forget something? my protein shake. the future isn't scary, not investing in it is. you're so dramatic amelia. bye jen. 100 innovative companies, one etf. before investing, carefully read and consider

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several more stories you need to know about. let's see if any can eclipse what has come before. jpmorgan ceo jamie dimon highlighting ai as the first topic of his annual shareholder letter saying it's going to have as profound an impact on society

as the printing press, electricity and computers. obviously time will tell here. i wouldn't bet against it. >> he says that they now have more than 2,000 ai and machine learning employees. those are not cheap. everyone's looking for those in silicon valley. >> nowhere will it be more important, maybe in medical and health care. the white house announcing a new student debt relief program that aims to provide relief for millions of borrowers to finalize the proposal would mostly affect those with so-called runaway interests or balance that balloon due to unpaid interests as well as borrowers who have been paying down loans for 20 or more years. >> this is obviously one that's going to be interesting to watch legally because the prior attempts to get rid of student debt did not fly with the supreme court. and south carolina winning the women's basketball title completing an undefeated season. it's been a process knocking off caitlin clark and iowa. next up for caitlin clark and south carolina's camilla cardozo

who was a beast on the boards among others, the wnba draft which is next monday. dawn staley, the coach of south carolina incredibly gracious with respect to what caitlin clark has meant to the game. >> you said you were gripped by that game. >> it was really good. it was a really terrific game. thanks for watching "power lunch," everybody. stay on the path of totality. welcome to closing bell, i'm scott wapner, here at the new york stock exchange. this begins with a make or break week for the week with a rally. earnings are about to begin as well. we'll ask our experts over this final astretch what is really a stake, including the billionaire investor marc lasry, he'll join me in just a few. your score card, the story really continues to be about that backup in yields. take a look, 442 is where we currently stand on the ten-year. that's putting pressure on the major averages