[ inner monologue ] i knew what i had to do. because they never stop. no time to waste. this isn't sci-fi. this is precision ai. ♪ ♪ good afternoon, everybody. welcome to "power lunch," alongside kelly evans. stocks are moving higher on the dow and lower on the s&p and s&p. when i say a little bit, i do mean a little bit on the dow, 0.09, kelly. >> on the global rate cuts. a day after passing apple and the $3 trillion level, nvidia now the target of regulators. antitrust investigations have been opened into the two biggest

companies in the world, nvidia and microsoft as well as open ai. >> we have reporters all over these varied stories. eamon javers looking at how the deal came together and the ai regulations and steve kovac is here with what's involved and deidre bosa is in san francisco with the silicon valley reaction. >> tyler, multiple source confirm that they are in the final stages to divide antitrust unkwirys into nvidia, microsoft and open ai. several of the most dominant players in the rapidly emerging ai space. the deal was first reported by "the new york times." it largely covers the investigations into the behavior of the companies, i'm told, not necessarily the mergers and acquisitions by the companies. i am also told that the department of justice will look at taiwanese chipmaker tsmc in any upcoming investigation, if

it comes. that's according to a source familiar with the matter because tsmc has operations in the united states and it comes under the department of justice's jurisdiction even though it's based in taiwan. that signals that the u.s. government investigative effort will be focused on hardware and chip piece of the industry as well as the software and large language model side of the industry. according to the terms under discussion in this deal, the doj will take the lead on investigating whether nvidia has violated antitrust laws and the ftc will lead examinations of open ai and microsoft. what is unknown is what evidence, if any the federal government would suggest violations of the law and all of that work still a long way off and this is dividing off the turf between the regulators and the law enforcement side. >> in the case of nvidia, i guess they would defend themselves by saying we just had a better product. >> that's typical, we got to the

top because we're the best and you're penalizing us for being so good at what we do. what the government will look at here is anticompetitive behaviors designed to block or squash competitors along the way to getting to the dominant position. sometimes with discovery and all of the investigative tools they have, they can pull out some embarrassing detailed emails, contracts and those kind of things that go back to alleged crimes and that is all very, very far down the line and we'd have to wait for any investigation and any evidence that that might present. >> thank you very much, eamon javers reporting. >> treasury secretary yellen is also weighing in on the ai regulation debate and megan cassella has those details. >> treasury secretary yellen is warning what she calls significant risks associated with the use of ai by financial companies. so in remarks just a few minutes ago yellen was talking in detail for the first time about what she sees as vulnerabilities stemming from using ai in finance. she says while there are

tremendous opportunities of ai in the financial sector, she worries about risks in a few different areas and she listed concerns among too much concentration on the complexity of ai models and inadequate risk management frameworks and the idea that insufficient or faulty data could lead to bias in ai decision making. treasury is in regular communication with federal financial regulators on ai and she highlighted that the agency just this morning began asking the financial services sector on uses and risks of ai in the industry. it's a form of request for information ask it marks ai and finance. the agency says part of what it's looking for here is recommendations around the use of ai and finance could be made stronger and guys, that's really only the very first step in a very long regulatory process, but with so little action in congress surrounding ai right now, federal regulation like this is the most likely way that washington will begin to rein in

the use of ai. >> what is she pointing to when she says and you'll paraphrase, i suppose, that ai could be used to produce decisions that are unfair or biased. what is she pointing at there? >> she's looking at things like approving a loan, for example, or deciding who might have access to a bigger credit line. these are the kinds of things that banks and other financial institutions could start to use ai for. they might be screening applicants and i think her wording was that it could perpetuate or introduce new biases. the treasury department in an ideal world is what are they basing the models on? what are they using and they're not introducing new biases that could make it less of a level playing field and could make it harder for people to get loans to access credit. >> what does it all mean for the companies that are being discussed here and potentially their bottom line? steve kovac here with a closer

look. it is a real tangle of the a-listers in ai. >> and microsoft's case and the two most valuable companies in the world. let's talk about ai because this is what i follow the closest and ftc and the doj and the kind of things they've gone after before. one thing they may be looking at is as microsoft did earlier this spring with the start-up called inflexion. they basically hired the entire staff of inflexion including its ceo, mustafa suleman, and he reports directly to satya nadella. that was seen like an acquisition without buying the company, and they gutted the entire company and left it a shell of what it used to be. they say it's still going to operate and it will still run in azure cloud, but at the end of the day almost no one is working there anymore. they're all microsoft employees now. so you can definitely see the

ftc taking a look at that. where is microsoft's advantage in artificial intelligence? it's in the cloud and azure cloud service and its relationship with open ai means all of open ai's activity has to run in the cloud. on top of that -- >> on azure? >> correct. >> on top of that it is making so many deals with other ai start-ups and a number of them were announced at the big build developer's conference. we've talked about this bifurcation of an established market. we saw with the apple and doj case when they said there is a high end smartphone market that it plays in and we saw the ftc do it with video games when they're trying to block the activision deal and there's a high-end console market with sony and microsoft and the low end with nintendo and everyone else, court did not buy that argument and we'll see if they buy the argument from microsoft or the apple case, i can totally see them looking at the a icloud

and then there's the regular cloud and microsoft is snapping up the deals and making these huge investments all over the world. i'm not saying it's the right argument, i am saying based on the kind of things. >> is it illegal to sell your company? are you -- so the deal they did with the start-up. >> inflexion. >> inflection, it was done they would get regulatory scrutiny. >> they knew they would get hammered. >> microsoft, what about the company that started up, and wants to sell itself for $600 million. >> it can happen. >> are they not allowed to sell? are those employees and those founders not allowed to cash in on the tremendous value they created if they decided to sell to microsoft and this would be a massive success. at some point i understand they're trying to go this other route, but why can't they do what they want to do. >> they could. they could try, but look what

they went through with the activision deal. it was, what? 20 months of just non-stop back and forth. >> they as the target and not as microsoft. >> you mean inflexion? >> why can't inflexion do what they want to do. they can take the money if they want to take the money. >> they would agree they have a billion dollar valuation and you add a multiple on top of that and a couple billion microsoft would have to spend to buy the entire company and they don't want to go through this whole mess and they're stuck in a weird point where we'll acquire the talent and bring them in and do this fake acquisition and microsoft tells me they believe they're in compliance about the laws and the disclosures with the ftc because hey, we just hired a bunch of employees and the company still exists, but that's your point and i think this ftc would rather a company like inflexion become public. on the nvidia, let's talk about the nvidia side of this because, in viddia tried to buy arm if

you remember and that got knocked down, and so the ftc and doj can point to that deal and say we blocked that deal and now arm ipo'ed and it's a very successful ipo and it brought a new player to the market, so on and so forth and that's what the regulators would like to see. they'd rather inflexion grow up on their own and be acquired by someone. if they want to sell, who is to say they can't sell themselves. >> interesting point. >> no further questions, your honor. >> thank you, steve. the biden administration's big tech will not help out silicon valley where a high-profile venture capitalists are throwing their support behind former president trump. david saks is hosting a fund raiser tonight in san francisco. deidre bosa is there live with today's tech check. >> this is an example of how support for trump once vilified

you in san francisco and now it can glorify you. $5,000 a ticket and $30,000 for one with vip perks and the fund raiser is set to take place at david saks mansion in pacific heights and it is sold out. it's expected to raise $12 million for the former president's campaign and what a change eight years make. back in 2016 the then-intel fund raiser was set to hold a fund raiser for president trump. today the event is expensive, flashy and in the heart of san francisco and also just as divisive. reid hoffmann published an op ed in the economist warning american business should not empower a criminal. there are plenty of others on his side and we are also on the lookout for the trump chicken in the bay. that is a 33-foot inflatable chicken that resembles a former president and being set up by his opponents to greet him when

he gets here to san francisco. support is in the shadows and now we're seeing a shift because republican policies or part of it is seen as more friendly or less hostile to tech. look at president trump's last term. we saw corporate tax cuts that would boost the balance sheets of mega-caps. he got tough on china wheel carving out exceptions to protect tech companies from those tariffs. government contracts went to defense start-ups like palantir and his attack oz social media would prove toothless. look at what you've seen from president biden's term. his regulators have been tougher on any number of tech issues from crypto and it's a big question and a bipartisan issue and the latest antitrust probes that we're hearing about today suggest that biden's regulators are taking a hard stance here and what david saks, the host of the fund raiser tonight says he hopes this event who feel this

way but don't want to admit it come out in support of trump. we'll see what happens. >> it's very interesting. in silicon valley it's gone from one vc person, peter teal to now maybe dozens and maybe even more of that because of policy differences that the community has. if you were to characterize, however, the overall electoral viewpoint of silicon valley, which way would it lean? >> overwhelmingly democratic still. i think it's just so rare that you hear these voices come out in the open, and i was talking to someone who works in policy earlier this week and he said that you use to not be invited to kids' birthday parties if you were a known republican, but that's changing. that diversity of thought ismore welcome here and it is also divisive as we are seeing setting up a lot of vcs on either side. a lot of the public ceos are reserving because they probably want to see what's going to happen, but it is a change.

remember eight years ago when president trump was elected and he had all of the mega-cap ceos to that summit in washington. they were all very uncomfortable. a bunch of them had departed from presidential councils a little later. it's definitely a different feel here and just more polarized. >> yeah. absolutely. all right, thanks very much. de deirdre bosa, we appreciate it. the car rental company is selling debt and convertible bonds. the company already debt-ridden has been looking for ways to raise capital as it tried to recover to stake its fuch our electric rental vehicles, teslas, that is. coming up, they say a rising tide lifts all boats. shares of the western giant boot barn up 65% this year thanks in part to a boost from beyonce's hit album "cowboy carter." we'll speak to the ceo of boot about that and more. plus, the walmart effect.

the retail giant of bentonville, arkansas, booming with economic activity and we'll get a live report and nvidia's record rally and the stocks are cooling a bit today and we'll key into that and more when power lunch continues spitely right now. champion iron offers a

rare solution to decarbonize the steel industry. which represents up to 10% of global emissions. the company recently doubled production capacity at its mine in eastern canada. it is now investing to produce one of the world's purest iron ore. enabling green steelmaking without the use of coal. controlling a large portfolio of high purity iron ore resources. champion is considering strategic partnerships to further develop the region. champion iron.

welcome back to "power lunch." shares of nvidia pulling back just a little bit after topping a $3 trillion valuation for the first time ever. nvidia's recent rally helping propel, excuse me, the s&p and nasdaq to record highs. now investors turn their attention to tomorrow's jobs report. here to talk about all of it is brian van cronkite, portfolio

with allspring global investments. welcome. good to have you with us. let's start at the top and work back. you say this is a time for investors to begin to rotate toward value stocks. why and where do you find them? >> today the market is very narrow in its breadth and markets get narrow for two reason, in my opinion, one is fear and two is greed. my concern is from the emotional points today, i think greed, the exuberance of the ai trade is guiding the s&p right now. you mentioned that emotion fades and the market rotates and typically from these levels the value takes over from growth and so what i see today is an under appreciation from the value categories and the companies that have true control of their own destinies outside of the broader economy and outside of the ai trade and are being unappreciative and investors don't care about that and we'll see investors rotate back into the value trade where a lot of amazing businesses exist today

at discounted valuations. >> you mentioned three stocks that you consider all from the value category. they don't seem to have much in common, maybe perhaps only that they are, quote, value stocks which is to say they're not ai. they're not high tech and not particularly a huge capitalization company? on the surface they might not have something in common, but under the cover they have everything in common. they have unique asset base and they'll all have tremendously stable free cash flow despite the economy and the economy we go through, they can use to drive their own destiny. for example, air cap is the largest airplane leasing company in the world through the acquisition of ge's business in the same space they now are the dominant player. they're going to see tremendous demand stability as the supply of airplanes continue to fade and they'll be the biggest buyer and they'll have the most to provide for their clients at much higher prices and along the

way, they'll optimize their asset base by selling things that are below balance sheets that they'll buy back at great prices and it will drive roe at a much higher valuation and it's a great business completely undervalued. >> i want to rotate into value stocks because it's been a trade that has done so poorly that there are very few value fund managers really even left. many who had great track records prior to the last 15 years, some who had more of a natural resources bid and that kind of thing, value was starting to work right before chatgpt came on the scene and we're back to growth and momentum trade again. there are those that think the sun has literally set on the u.s. value trade. it has set. it is over. it is history. how do you respond to that? >> we are honored to be one of the last ones standing and there

are different ways to think about value and the old school way of value investing which is buying cheap p-e stocks and that's basically dead and it doesn't work anymore. there's no reversion raid and we think about value and how does the company use a stable cash flow stream and an underappreciated cash flow, to buy the destiny. it's about buying great businesses when they have a unique way to drive the different destiny. let let's talk about graphic packaging. they're a lead are in paperboard. over the last five to ten years the industry has consolidated to where graphic packaging is a dominant player in the space and they've made choices around which assets to sell and which ones to keep that have moved them up the quality curve. they have a much more stable cash flow stream, and they've eliminated their commodity exposures and they're using the balance sheet to optimize the balance space which will make them the lowest cost producer to

for the higher uniqueness in the product and that's a unique situation in an undervalued stock and i'm not worried about the p-e. i'm worrieded ab about the valu they'll create. >> it's been a steady performer at 12 in 2020. do you think it's like the tortoise and the hare. if you have stocks like gpk in your portfolio do you think investors will be okay picking up 3%, 4% a year and maybe it's more than that in fairness to them. do you think that's going to still work? >> we're not a lot of fun at cocktail parties and no one wants to hear about gpk and we want to own businesses that will drive value creation through a cycle and not at this moment in time and the key to investment is how do you win today and it's compounding value through the cycle by owning businesses that can get on that flywheel of creating cash and loading the balance schett and redeploying

in the future and i do think they value the cash flow stream. >> i would seek you out at that cocktail party. i would say i want to hear more. get the cheese and the wine. >> paperboard packaging. >> we'd be alone in the car talking about stocks, i'll tell you that. it would be fun. >> thank you very much for your time. >> bryant vancronkite. solar stacks have been left for dead, and you they still could see big business. we'll discuss and gamestop has resumed trading after being halted last hour. shares spiked as high as 44 bucks after roaring kitty keith gill scheduled a youtube livestream for tomorrow at noon eastern. the shares are just below 40. >> something to get out of bed, for. >> doesn't it though? >> it is on 70% on pace for the best week in three years. we'll be right back.

welcome back. yields are largely holding steady ahead of the jobs report. let's get to rick santelli with a check of the bond market. the ten-year is back below 430, rick. >> i'll tell you, it really is amazing and we're hovering

unchanged at pretty much every maturity on a very significant day. yes, it's the day before the may jobs, jobs, jobs report, but the eu, of course, the ecb cut rates today. big news, and i think what's also big news is the day they cut rates happens to be the big day of voting for parliamentary elections and boy, i thought there would be more notice of that and it seems to be under the radar screen, to some extent. let's look at the ten-year. it's hovering at the lowest yields since the end of march, and if we look at the difference between our tens and the european tens considering they ease today and we're not expected to ease until september although i always draw a question on reading too much into fed fund futures that far in advance. the difference is the tightest it's been in four months. that's important, and if we look at the euro versus the dollar on top of the chart of the dollar

index they're inverse related and i understand that, and they're saying a hawkish cut, we shall see. i find it interesting that the euro currency is still at the highest levels in two and a half months and the index is at the lowest level in two and a half months and tomorrow's jobs report will be quite important, and i think that the biggest issue is which side of 4% that unemployment rate shows up at. tyler, back to you. >> mr. santelli, thank you. we'll all be watching at 8:30 in the morning and following last month's 54% rally and that is good for its second best month ever and new numbers show that while the end sindustry as a whs at a key race and it's underperforming and pipa stevens knows which one. >> we talked about how the stocks has been hit, and projects are still being built. a new report from mackenzie shows that the u.s. added 11.8

giga watts of solar and that was the best quarter on record. to put that in perspective, that's more than we added in all of 2018. however, while the top line is still strong and residential continues to struggle here and they had their worst quarter in two years and installations were down 25% year over year as higher rates do weigh. the reports also show that the u.s. is meaningfully increasing domestic manufacturing and they say once these factories are online it would be able to meet about 70% of our needs, however, that is a big if because that is the potential that they won't end up being built and we're still reliant on foreign imports and we get about 90% of our panels from four countries in southeast asia. quickly in the background, the two-year pause on tariffs that the biden administration implemented expires today and tomorrow the itc is voting on

whether to take on an expanded probe, so there could be a lot more turmoil looking forward. >> pippa stevens. >> let's get to kate rodgers for a news update. the state department has called on israel to be fully transparent on its findings into an overnight strike on a school in gaza. local officials say the bombing killed 40 people including children in the compound where about 6,000 people were taking refuge. the israeli military said earlier today it was a targeted attack on 30 hamas fighters embedded inside the school. the kansas city chiefs canceled team activities after defensive lineman b.j. tompson suffereded a seizure and went into cardiac arrest. thompson is in stable condition after he was taken to a local hospital by an ambulance. more than 1.2 million rechargeable lights have been recalled in canada after someone

died by fire after one of the products. the batteries can overheat and they were sold in stores and online including lowe's and amazon. it is removing lights from the market in january. back over to you. >> thank you very much. ing come up, boot barn up more than 60%. western culture receiving a boost from queen bee's now country-inspired album. we'll speak to jim conroy about that on the other side of this break. after last month's massive solar flare added a 25th hour to the day, businesses are wondering "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. let's put it to a vote. [ all snoring ] this is going to wreak havoc on overtime approvals. anything can change the world of work. from hr to payroll, adp designs forward-thinking solutions to take on the next anything.

welcome back to "power lunch." shares of boot barn are jumping more than 65% this year due in part to beyonce's country album which has helped boost western culture. it is up 20% since schulman

picked it in the stock draft on april 25th. he's in third place trailing eddie george and pearlman. take a listen to why he bet on boot barn. >> i am very excited to choose boot barn for my pick. >> ooh! and why? you like their boots? >> with climate change a major factor and inclement weather is on the rise and we're going to need boots. companies come and go, but feet and hard work are here to stay. >> joining us now is jim conroy ceo of boot barn. welcome. >> good afternoon. thanks for having me on the show. i appreciate it. >> is it beyonce? is it climate change or hard work that is driving your sales this year? >> let's say they all can take some credit. our core customer we often say feeds america, builds america and protects america.

so our business was very solid for a long period of time and its had a dozen years of revenue growth and it's nice to now have some more focus on it from pop culture and perhaps that will continue to add a layer of growth on top of what the business has done so far. >> talk us to about the rest of the year in 2025, expanding into new locations and different parts of the world, excitement or lack thereof with profit margins and depending on inflation trends. >> sure. absolutely. we're a high-growth retailer and we're opening 15% new units each year and our pickal year that started a couple of months ago, we had set plans to open 60 stores this year and that will get us to about 460 stores on our way to 1,000 in the united states. perhaps some day soon we'll start looking internationally perhaps to canada or maybe some day to australia, but in the

short term we'll continue to focus on taking a very solid working model and just spreading it across the communities, across the 48 contiguous states. >> the stock market performance and the stock speaks for itself up 65% year to date and 76% over the past year. i do want to give you the opportunity to respond to bruce axeler, a short seller who came on our last month and not only was critical of the business strategy that you articulated and was personally critical, frankly, of you personally and of your team. let's listen to part of what he said and then i'll give you a chance to respond. >> we have problems with the business strategy and model. this is a specialty retailer that focuses on western wear and it's making a national movement and in that process we think that the store economics are declining. we think that they've alienated their core customer which is a

traditional male farmer, cowboy and they're taking a risk with fashion geographies where there's less demand for western wear. >> when you're a public company ceo you're in the public eye and there are people that like you and there are people that are critical to you and that's fine. that's what makes the world go around, and we're going to just continue to focus on growing our business. the results sort of speak for themselves, right? we are opening up stores and they are a large format and they're 12,000 square feet. they also pay back 60% return on cash in the first year. so it's an incredibly solid investment. we have 406 stores around the country. every single one of them is profitable. i think the question really becomes can you accelerate growth or are we following the strategy that's taking us to this point just in the last four

years, sales have doubled and tripled. so we'll always have critical feedback, but for the time being the strategies are working for us and we'll continue to focus on the future growth and taking sales and earnings forward. >> as you expand your store count and as you expand the merchandise that you carry, is there any legitimacy to the idea that maybe you are expanding out of your core market which is the working purpose in the united states and the westernwear a face yn adon and are becoming here fraction driven or fashion led. >> is that a fair characterization or not really? >> i think there's a layer of fashion. i would not say fashion driven or fashion led. we have a number of stores in central or upstate new york. there's a poos of that business that is fashion, but there's

also a tremendously large number of blue collar workers, dairy farmers that are wearing cowboy boots because they're working on a ranch or a farm. they're wearing cowboy hats to keep the sun off their face and also an aible did customer that wants to wear something more fashionable, that's just plus business for us. >> yeah. >> but regardless of the market that we open in whether it's western in geography or eastern in geography or close to urban centers. our core customers are buying a functional product they wir through and when they do so they need another pair and they come back to us. so if you think about the fashion risk of most retailers, for boot barn, we've heard this story before. we launched a great line by miranda lambert in 2018. that was a time when everybody thought the fashion risk was going to change for us and we would have a lot more markdowns, and since then our merchandise

margin has grown by a hundred basis points a year every single year since 2018. so i think we've been able to deflect that concern. >> i have a great pair of ariat boots and i know you carry that line. they're hardworking boots. thank you very much for being with us today. jim conroy of boot barn. >> thanks for having me. >> you got it. coming up, we're traveling to boomtown usa and it's not just walmart's stock is getting a record run. its hometown is getting a boost. we'll take you there when we return. (♪♪) car, this isn't the way home. that's right james, it isn't. car, where are we going? we're here.

(♪♪) surprise!!! the future isn't scary. not investing in it is. car, were you in on this? nothing gets by you james. nasdaq-100 innovators. one etf. before investing, carefully read and consider fund investment objectives, risks, charges, expenses and more in prospectus at invesco.com it's time to feed the dogs real food, not highly processed pellets. the farmer's dog is fresh food made with whole meat and veggies. it's not dry food. it's not wet food. it's just real food. it's an idea

whose time has come. energy fuels, a leading american uranium producer, is ramping up production to supply expanding nuclear markets and diversifying into rare earth elements, key ingredients in many clean energy and defense technologies. energy fuels. trading at schwab is now powered by ameritrade, unlocking the power of thinkorswim, the award-winning trading platforms. bring your trades into focus on thinkorswim desktop with robust charting and analysis tools, including over 400 technical studies. tailor the platforms to your unique needs with nearly endless customization. and track market trends with up-to-the-minute news and insights. trade brilliantly with schwab.

are you interested in safeguarding your investments with gold? alamos gold is a growing canadian gold producer with a long track record of outperformance. alamos gold. invest with us. our growth sets us apart. ♪ ♪ welcome back, everybody. walmart hitting a record high on the heels of its annual shareholders meeting coming off its best month in seven years, but it's not just the stock that's hitting new highs. a new piece on cnbc.com tracks the exponential growth that is happening in walmart's hometown of bentonville, arkansas, and

oh, by the way, in nearby little rock, as well. the reporter behind the story melissa repco took a closer look. >> i thought never in a million years would i move to arkansas. >> she lived in washington, d.c. and she moved in 2022 for to walmart headquarters. >> i had this vision of a very poor, rural community and maybe a little backwards and a little conservative. >> instead, tracy found a boomtown trying to maintain its smalltown feel while providing big city amenities. >> it's kind of if i envisioned my perfect life. >> the population is exploding from 36,000 in 2010 to 58,000 in 2022. with expectations reaching 200,000 by 2050. that explains why bentonville has more cranes per capita than any other u.s. city according to cushman and wakefield sage partners. >> every time i go to town now there's new construction.

>> they moved here in 1971 and the population was 6,000 and walmart was in its infancy. >> now it's building a new 350 acre headquarters. >> i don't think that anybody had the vigdz that this would take over the world. >> walmart drew vendors to open offices here and with the population growing by 36 people per day, housing, restaurants, hotels, museums and even a medical school are being built. >> all of the people that were coming into town were not from here. >> chef matthew cooper owns coniper, and the dishes and prices rival something you'd expect to find in new york or san francisco. >> they were from places where those prices were prevalent and it hasn't really been that much of a fight. >> bentonville's boom also brings its challenges. a shortage of housing, for instance is pricing many people out of the market. >> ten years ago we had 14 homes that sold over a million dollars. last year, 2023, we had 244.

we don't have $150,000 homes. that market is obsolete. >> there's always going to be unintended consequences of growth, but on the positive side and what this has been able to bring to people's property values, what brings in terms of amenities and the education system we have here, it's far beyond any of the negatives. >> one of the reasons why those upscale restaurants is doing so well is the median income in.onville is $99,000 a year versus $75,000 in the rest of the country. those amenities and this new campus is helping bal mart attract talent from cities around the country from cities around the country and tech companies, too, kelly. >> i'll pick up here. how much has mewalmart and the walton family picked up the changes? >> for example, the restaurants, the walton family is behind.

so tom and stewart walton have a real estate company and they have a restaurant group and it's been one the reasons why the town has become a mountain biking destination. they enjoyed the sport and developed 250 miles of biking trails in the area. >> sign me up. sounds good. melissa, thanks very much. appreciate it. >> sign me up. coming up, a fresh three stock lunch. we're back in two. don't go anywhere.

welcome back. today's "three stock lunch." partner at wall street alliance grune. welcome. tesla, board of directors continuing support of elon musk's pay package. in fact, chair robyn denholm says it's not about the compensation. take a listen. >> it's not about the dollars. it's actually about someone who took a huge risk from a pay perspective. no compensation would have been awarded had he not hit the milestones. so for me that, that risk/reward is very important in corporate america. >> and tesla shares are up about a percent today. of course, under pressure so far

this year. what's your trade here? >> yeah. it would be a buy. 100% we agree with those comments. stock's down more than 29% year-to-date. at times like this, this is where you see buying opportunities. and in a company like tesla. and although you know, vehicle sales have suffered due to a softening in demand, we see a lot of potential in the soft driving software could lead to new revenue streams for the company. potentially it could lead to, when you sale car you can only sell it once. you get a software once developed you can sell it unlimited number of times. this could potentially lead to recurrence subscription revenues for the company as well. so for us this would be a buy. >> move on to robinhood. buying a crypto ex-changes bitstamp in a $200 million deal. ceo discussed what he makes of the deal and all that's been

happening. take a listen. >> i think for us, it's an opportunity to show how much we've grown since 2021. since the first of the meme stock frenzy incidents, and i think the really interesting thing is that these events have really been starting in the overnight sessions. >> right. >> so sunday night where pretty much the only game in town is robinhood, if you want to trade stocks. >> shares of robinhood incidentally up 7% today. your thoughts? >> so tyler when i was on the show earlier we called his as a sell. since then they've had a strong first quarter, but our look remains unchanged. still a sell for us. a lot of other competitors in this space, like fidelity and schwab that are stronger. look at their revenues, more than 40% of revenues from net

"newsweek." rate cycle that's vulnerable. recent notice also makes them vulnerable to regulatory pressures as well. so for us, this would still about sell. >> all right. let's get to crowdstrike. reported being raised in the quarter. ceo telling cnbc about value of their a.i. technology. take a listen. >> with our generative a.i. technology we call charlotte we can take eight hours of work, turn it into ten minutes of work, because charlotte is doing the heavy lifting on behalf of our customers, and we're seeing a 90% win rate when people actually pilot charlotte in the their environment. >> crowdstrike shares trying to build on yesterday's gain. would you buy it? >> we would not buy it, but we are constructive on this space, because we feel as businesses are getting more involved with artificial intelligence and cloud, so are cyber criminals and think a crowdstrike could do well, but given the recent rally

we would be in the camp where we would hold and wait for more attractive entry point. >> there you have it. thanks for your time. appreciate it. "power lunch" will be right back. 's basically tennis for babies, but for adults. it should be called wiffle tennis. pickle! yeah, aw! whoo! ♪♪ these guys are intense. we got nothing to worry about. with e*trade from morgan stanley, we're ready for whatever gets served up. dude, you gotta work on your trash talk. i'd rather work on saving for retirement. or college, since you like to get schooled. that's a pretty good burn, right? got him. good game. thanks for coming to our clinic, first one's free.

it's time. yes, the time has come for a fresh approach to dog food. everyday, more dog people are deciding it's time to quit the kibble and feed their dogs fresh food from the farmer's dog. made by vets and delivered right to your door precisely portioned for your dog's needs. it's an idea whose time has come. ♪♪ energy fuels, a leading american uranium producer, is ramping up production to supply expanding nuclear markets and diversifying into rare earth elements, key ingredients in many clean energy and defense technologies. energy fuels.

♪ ♪ the biggest ideas inspire new ones.

30 years ago, state street created an etf that inspired the world to invest differently. it still does. what can you do with spy? ♪ ♪ [thunder rumbles] ♪ ♪ welcome back. dow went briefly negative top of the hour but returned to an 88-point game. shares of gamestop. watch the $40 level as was told last hour. the level thought the short squeeze is on. about a 30% gain. all in the news roaring kitty a youtube live tomorrow at 12 o'upon p.m. eastern. >> according to california business and industrial alliance nearly 10,000 jobs cut across the industry since the state ins

stut say the instituted $20 per hour wage. their opinion on that one. >> heard people say it's end of fast-food in california. i don't know if it's true or not. >> in-n-out burger. ooh. good stuff thanks for watching "power lunch," everybody. >> "closing bell" starts right now. welcome to "closing bell." i'm scott wapner live from post nine here at the new york stock exchange. break our break hour begins with the rally's next leg. hinges more on the all-important jobs report or nvidia's momentum with media. meantime, scorecard. 60 minutes to ge in regulation. stocks waiting for the day to dump tomorrow. nvidia taking a breather today. rare respite in that stock's incredible run. the $1,200. we'll watch it. other, green including meta, amazon, microsoft a stiff negative entering this final hour. lululemon a st