oh no, a rash. maybe it'll go away. awww, how am i going to find a doctor i'll actually like? is that a qr code? dr. stafford makes you feel at ease. thanks rash! you've got more options than you know. book now. welcome to "power lunch," everybody. alongside kelly evans, i'm tyler mat matheson. we have two big stories on both

ends of the financial spectrum. the deals up 41, almost 42. s&p 500 up 7, and the nasdaq up by 4. this comes after a hotter-than-expected jobs report. 272,000 jobs created compared to an estimate of 190,000. >> indeed, and we saw a huge reaction in bond markets, yields popped after that report. stocks also popped. we'll get to that coming up. first let's start with gamestop. the stock is down about 39% just around $28 a share halted for volatility, more than 15 times, and the company moved up its earnings report and announced an additional share sale which is part of what's weighing on the stock price. >> and the other part of the story, a live stream from roaring kitty, the trader who started the meme frenzy. roaring kitty or boring kitty, what's the story? >> today it was maybe boring kitty in terms of the content that was provided because what we did not get was any real new

developments with regard to what keith gill views about his gamestop position. what we did learn today was we got some at least reinforcements and positive confirmation of what his position in the stock really is. there were maybe -- there were a number of takeaways if you want to look at it this way, but three of the main ones that happened while i was watching this whole thing, number one, he still believes in gamestop from a fundamental standpoints. he thinks that ryan cohen is the guy who can turn things around, and that he generally has a more medium to longer term timeframe on when it will happen. maybe two to three years. but he caveated it by saying i could change my mind like you could change your mind about this down the line. that was number one. number two was we've talked a lot about the screen shots he's posted, about his position, about just how much it was. remember, at one point in the last couple of days, that screen shot showed a valuable of a portfolio worth $557 million.

>> in gamestop alone. >> in gamestop, and that's -- >> what share of the company? >> it's huge, right? because -- it's not like -- you're talking a five million share stock position, okay. and that you can see roughly $30 a share, you know, you can do the math here. worth about $150 million. >> gamestop's market cap, $8.5 million. >> $120,000 in june 21st, call options with a strike price of $20 a share. quick math, 12 million share exposure, $10 in the money plus time premium, call it roughly $120 million to $130 million worth of market value there. and a $29 million to $30 million cash buffer position. all in total when he was doing the live stream, he showed a live shot of it, and it was marked to market around $350 million in terms of the movement given the stock price and options pricing. that was takeaway number two. takeaway number three -- >> was that more than people thought, less than people

thought -- >> exactly what people thought. but there were questions about whether or not this was really his position or not. he showed screen shots for the world to see. in this instance he showed us live what the portfolio was doing and claimed it was his. so at the very least what you have is confirmation to a live studio audience out there for future people to understand it. he claims this so there can be no question that this is what he was trying to say. that's what we got confirmation of. the other thing that, point number three, was he knows what he's doing. during the course of the conversation that he had on his live stream, he caveated himself a lot and probably just the right amount of times. i'm not sure because i don't know keith gill personally, i'd love to talk to him in person about this, but it seems like he was very well coached or he knows exactly what he's doing -- >> coached so as to not run afoul of the -- >> right. to not make fraudulent claims. to not pump the stock. >> good place to start.

>> those types of things, right. it was pointed out by many folks that at one point he was a strerjed representative at a securities -- a registered representative at a securities firm. he was licensed. he knows what he can and cannot say to trigger the ire of regulators or law enforcement. those were the three main takeaways for me. again, nothing terribly new came out of this other than the fact that he says this is the position, this is what my exposure is. by the way, we don't know whether or not -- he could change his mind so to speak. >> yeah. when the stock seemed so tied up in the -- the whim of an individual investor, that investor could change their mind in a hurry and unwind those positions tomorrow. >> well, and -- yes -- >> it's hard -- >> yes and what i would say is the options positions are curious. you've only got a couple weeks until expiration. they strike at $20. so they're deeply in the money

right now. anywhere from $8 to $10 as you can see on the ticker there. the five million share position also significant, but i would say and argue and some traders will say the same thing that when a stock trades anywhere from 60 to over 200 million shares a day, you could throw a market order of five million shares in the market and have no market impact whatsoever on the stock, right? >> trading at those volumes -- >> if you're trading at 200 million shares a day nobody notices five million shares that just goes through. the market impact that that trading activity may be more easy to mask. it's tougher, though, if you hypothetically want to buy in a rising market or sell into a falling one because that could exacerbate the moves there. but the options -- it will be interesting to see how the options position plays out. like i said, they expire on june 21st. you either exercise them or roll them into another contract. and that's going to be the kind

of interesting moves to watch. >> dom, stick around, will you? we need more from dom. more on roaring kitty's return. let's get a take from two streamers and retail traders who have been following this closely with their online communities. ryan manoskai, aka stock mo, has over 600,000 subscribers on youtube. and jason frank, stock guy, has nearly 300,000 on twitch. let's start with you, ryan, if i might. what do you make of what took place today, and what roaring kitty said and what's your thought about gamestop? >> well, first i want to thank both of you for allowing me back. last time we had a conversation and you brought up angry kitty, and i told you needed to get out there and trademark this thing. we got back to the community, they loved it. they loved you guys. but roaring kitty, as you came out and said something about maybe boring kitty, i don't know what everyone was expecting out there when it came to this, but

i did ask my community, and they were very up front. i said, why are you get into this? and basically it was two -- two answers -- one, they want to see retail inride is to the party -- invited to the party. they want a piece of the american dream. they're tired of working 9 to 5, 40 hours a week, maybe one week of vacation a year, and seeing people making millions and billions on wall street. they see roaring kitty as one of us who has knocked on the door and then kicked the door in. and they see this and want to be a part of it. now, the other half is all about making money. they see this as a great opportunity to swing trade. they want to be a part of it. and they -- some of them are. i can tell you in my discord, i had a couple people saying they're up tens of thousands of dollars. it's pretty interesting to watch. but they're the two lanes that i have seen so far. >> so jason, isn't what ryan just described in part just pure

speculation? basically a form of a gamble? i mean, there are lots of ways to take part in the capitalist markets. and you don't have to -- it doesn't have to be through following an online person or a stock like gamestop. >> i mean, absolutely. the thing is is that as he had alluded to, a lot of people are in this looking at it as though this is their chance to see the everyday working man. you know, there's never been a time where the gap between the ultra wealthy and the everyday working man has ever felt so wide in this generation as it does right now. and a lot of people look back at, you know -- at something -- if you think about something like "invincible," a regular, everyday guy who made it to the nfl, you feel like he's one of us, there with the big boys and represents us. and it gives us hope. some people are feeling that.

where i will counter with stock mo is that i think for the retail trader they're a little bit smarter this time around or a little bit more prepared. i think the first go round with gamestop it was a new thing. the squeeze, the pump, everybody was there, everybody was on it. we saw dilution not just from the stock but from people either losing money or moving onto other stocks or moving different groups. and i think people got burned, some people, you know, held -- looked for exiting this time, looked for a reason to sell and weren't like this is going to a million. so i think you have a smarter, more resilient and more prepared retail trader this time around. and i think that's something that a lot of people went into this live stream looking at. i, there -- i think there were expectations that he was going to pop the stock or liquidate. i think other people realized this is just him coming out. for me i think it was just a hey, this is me, this is really my portfolio and my twistter account. i'm not going to say anything to

get in trouble because i know better, now here i am, let me enjoy the moment. >> i think the stock sale is an interesting angle by gamestop. they're being opportunistic, they announced it when the stock was up significantly. they can raise capital, try to execute the business turnaround, but puts a dent in the short-term gains that keith gill could be enjoying from this. >> so this is the struggle and debate that's going to happen with the meme stock community with regard to gamestop specifically. and the reason why the ryan cohen illusion and reference is so key in this whole process is because there is a possible turnaround play happening at gamestop. we talk about this idea that physical games and the retail of such is a dying business, a runoff business. many people have talked about it. but what in essence you've done, though, in this process is you've raised a ton of money over the course of the last month, month and a half or so, that ryan cohen at gamestop has

free discretion over -- the board of directors has given him a fairly open mandate with regarded to what you can do with this money that has been raised. so does gamestop look like a video game retailer in the next six, 12, 18, 24, 36 months? maybe, maybe not. it could look like something completely different and reinvent itself as something else. those are all hypotheticals. when people in the fundamental community talk about what's going to be the gamestop end game, it doesn't necessarily have to be as a video game retailer. and that's probably one of the reasons why you have a lot of folks talking a little bit more about this notion that gamestop could have a fundamental story behind it. now i -- i don't know what that is. >> it's net sales -- its net sales dropped almost 50% year on year. they were $1.2 billion last year first quarter, $880 million this first quarter. they need to use this capital to execute some kind of turnaround fast. >> and not just -- i mean, to run a business, you need cash. there's cash flow that needs to be generated. you cannot burn that much

without doing something with it. you have to democrat desecrate that it can be used for something good for the return. i don't know if that gamestop thesis plays out with the existing business model that they have. it has to be something different. people just -- people who are buying into this now, many probably are looking at this as what could the future be as opposed to what it looks like now. >> ryan, how do you react to what jason said -- and i'm going to try and clumsily paraphrase it, and that is the idea that there are a lot of retail investors out there cheering on roaring kitty or who i called angry kitty. cheering them on because they see it as the little guy's way to kick down the door. and i guess -- call me -- put me down in the skeptic column because there are lots of ways you can kick down the door, called apple and nvidia and lily and so forth, that, you know,

maybe they don't do this and this and this and this and become the kind of trading vehicle that gamestop can be, but there's certainly other ways to get in the parlor here. >> yeah. and they're doing that. they're not all in on gamestop. you maybe have some yolos where you're going all in. for the vast majority of all the people out there, the retail people, the people who follow us, streamers, they are doing the wise decisions. they're getting into the treasuries, the short-term treasuries, because they know the cuts are coming. they're getting into the ai plays, and they've been up hundreds of percent on nvidia. when you talk retail, it's not all or nothing on a play like gamestop, but it is something -- some people who have never been in the market, they see it on the news. the news is talking about it now. they never heard of it. i had my 81-year-old dad ask me who is this kitty roaring guy? and he called me up.

i said, when my dad, 80 some years old, calls and asks about roaring kitty, that's all i needed to know. everybody in the united states is hearing about this guy, and a lot of people see him as the robin hood, the person they can get behind. he's fighting against the powers. but for at like i said, for most of the investors out there, they are playing a lot of smart plays, and some like i said, half the people i was talking to see this as an opportunity to do a good swing trade. the other half just want to be a part of it, maybe dumb money, too, the movie, who knows? >> jason, quick last word. do you think he's going to end up profiting his followers or losing them big bucks? >> you know what, i think we're putting too much importance on one individual here. i realize that he is the beacon for retail traders, but you know, he's making a play, and it's his play. if someone decides to follow along with the play and they make money or lose money, it's really on him. he has never said this is going, he's not saying that it's going to go up or down when he's doing

anything. he's making a play. i'm sure he understands his importance in this. but again, he's making a play for himself. he's showing it to the world, and he likes the stock. >> gentlemen, thank you very much. and dom, thank you, as well. stock mo, stock guy, all you guys, roaring kitties, and everything. >> angry kitties. >> angry kitties. psycho kitties. >> love it. apple's worldwide developer conference kicks off on monday, and the culture's expected to reveal a slew, a slew of new ai features from an improved siri to a potential openai partnership. we don't know much about the man behind apple's ai strategy. our own steve cove action is here to share what he has learned about the person helping usher in apple's next chapter. steve? >> reporter: hey there, yeah, there's just enormous pressure on apple to deliver that gangbusters ai announcement on monday. and we could talk about what we're expecting in a bit like that reported openai partnership.

first, the quiet apple executive behind apple's strategy, that's john giannandrea, jg for short, don't hear much about him. apple poached him from google six years ago. within eight months he was already promoted to apple's leadership team reporting directly to ceo tim cook. his team's work is going to be on full display monday. i caught up with folks who know him, former colleagues and people who talk to him a lot, things like that. he comes off as a humble, unassuming executive. jeffrey hinton, one of the godfathers of ai and worked with him at google, he said he's a rare combo of great researcher and great manager. a former to be uber exec who co-founded a startup with him decades ago told me he still goes to him for advice and wisdom. and a few other folks told me they wouldn't be surprised if he isn't part of the big keynote on monday. he's just not a showman like other silicon valley executives. it's the products that's going to be the most important that we see there.

and it's really what they do on the ai front and what they can do in the next iphone with artificial intelligence to spur upgrades. that's what's most important for investors, guys. >> yeah. fascinating read in "the journal" as well about choices made about siri over the past decade. we'll be reading it ahead of this big event. thanks for your time. coming up, the fed still seems stuck between a rock and hard place, aka investors and the data. traders want a rate cut, but the data casts doubt on the ability to do that.

every day, more dog people, and more vets are deciding it's time for a fresh approach to pet food. they're quitting the kibble. and kicking the cans. and feeding their dogs dog food that's actually well, food. developed with vets. made from real meat and veggies. portioned for your dog.

and delivered right to your door. it's smarter, healthier pet food. get 50% off your first box at thefarmersdog.com/realfood

folks, welcome back to "power lunch." right now stocks are really just flat, hovering around the flat line. but bond yields are holding onto earlier gains. let's bring in rick santelli for that story. hi, rick.

>> reporter: hi, tyler. indeed, we saw a big pop at 8:30 eastern on the stronger than expected jobs report hit. i'm going to concentrate on the wild fours. we're up 4%, of course, in the unemployment rate. we're up .4 average hourly earnings, week over week and year over year. we were up 4.1. these are important. let's look at average hourly earnings year over year, shall we? 4.1, and you can seefrom that chart that if you look to the left side, pre-covid, we weren't getting up to that level. on the right side, we're coming down, and it seems to be holding around and above that 4% level. pay close attention to that as it cross fuels some of the inflationary pressures. right now there's only one maturity that is absolutely higher in yield on the week, and that's the two-year note. most sensitive to what the fed may or may not do, all the other maturities, of course, are up significantly on the day. that's the only one up on the week.

they closed at 487. they've been hovering at that level. tens on the other hand closed at 4.5%. they've been in the low 420s -- excuse me, 440s, still a ways away from 4.5. as you look at the dollar index on that chart, as well, it just zooms -- it was a 2.5-month low close yesterday and has put itself up on the week. i can't stress how important it is to continue to pay attention to some of those streams that seem to play throughout the economy continually depicting pressures in pricing. back to you. >> we will watch them closely, rick. thank you. rick santelli. our next guest thinks the strong economic data will ultimately be better for stocks and corporate earnings. she says the s&p could rally 30% from here. mary ann bartles is chief strategist at sanctuary wealth. great to see you again. how are you? >> i'm fantastic. thank you so much for having me. and you look great. >> thank you. hanging in there.

so is the market, by the way, more than hanging in there after this morning's payroll number. in fact, we thought maybe it would sell off sharply on the news, and instead it seems just fine with the result. what does that tell you? >> what's wrong with jobs? that's a good thing. we saw a little bit of an uptick in wages. what's wrong with that? nothing. that actually is a positive sign for the consumer. now we've seen the consumer become a lot more selective, but we still have a consumer that's spending, and that's very important. what's more important is what are we projecting for earnings for the market. and when you look at what analysts are projecting for the second quarter, their numbers are going up. and that's counter to the seasonals. normally they start taking their numbers down, but they're actually taking their numbers up. when we look at estimate revisions, they have the highest correlation to the direction of stock prices. so we're still fairly confident that the fundamentals are very strong, and strong job growth is

just another sign that the economy is strong and the consumer should stay strong. >> you are steadfastly bullish on the semi names, the leadership, nvidia, but others, as well. why? >> believe it or not, this is a pocket of the market i've been bullish on for a number of years. and part of that was the technical picture was just so strong. but the technicals remain extremely strong. in fact, they've improved greatly. and now you have very strong earnings. and obviously we all know about nvidia now and the power of their earnings. and so when i take the fundamentals of the earnings power, combine that with the picture of the technicals, it suggests that the semiconductors will continue to be leaders within the tech sector and can continue to go significantly higher. doesn't mean we don't get periods of a pullback from time to time, but i think people are going to be quite surprised how much higher this segment of the market can go up. >> mary ann, i took part last night in a panel discussion for

my alma mater on the markets. and a questioner asked why aren't you all at cnbc and why aren't more people talking about the demand for electricity that is coming? and i see that one of the areas you like is utilities. so let's talk about the demand for electricity and what it's going to mean for utility stocks over the next decade. >> so it's not just about ai for electricity, and you're bringing up a very important topic. we've been talking about the shortage with utility just with ev cars. so when you start adding on electric cars, you start adding on the power that ai will need and the infrastructure that we have today can't support all of this. and we're not even talking about bitcoin and the minors and the power they need. when you talk all of this together, there is going to be a significant increase in demand. so we're going to have to

continue to build out our grid. this is part of the infrastructure story. so we think the utilities which normally do well in a lower interest rate environment, we're starting to see select utilities actually now trade like growth stocks. the market is waking up to -- >> which ones? which ones are trading like growth stocks? >> so if you look at this, the est would be one. it's coming down sharply. i think on pullbacks that looks very interesting. so the -- believe it or not, the market is gravitating toward nuclear because we're going to need 24/7 electricity for ai. and nuclear power can provide power 24/7. so you're seeing uranium prices go up. you're also seeing copper go up. if we need to build out new grids, we don't have enough copper. and trying to get copper in terms of up in supply is going

to be challenging. so these are things that are going to actually probably play out over the next three to five years. >> very interesting. thank you so much for your time today. have a great weekend. >> thank you, you, too. >> mary ann bartles. coming up we will digital into an over-- dig into an often rcerlooked segment of the labor foe.

your record label is taking off. but so is your sound engineer. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire

[crowd chanting] they ignored your potential, and mocked your ambition. but it's not the critic who counts. with every swing and block, your game plan never changed. ♪♪ some still call it luck. let them. because you know what it's always been. inevitable. ♪♪ ♪♪

welcome back to "power lunch." i'm contessa brewer with your news update. we're getting a look at the annual financial disclosures for the supreme court justices. clarence thomas declared a trip to bali. we see multiple big advances for books, but none larger than the $894,000 advance justice ketanji brown jackson reported for her upcoming memoir. she also declared concert tickets from beyonce worth $3,700. secretary of state antony blinken is heading back to the middle east. the state department says he will push for the adoption of the u.s.-backed cease-fire plan on his eighth trip to the region since israel declared war with

hamas. and mike tyson's return to the ring again. social media star jake paul has been rescheduled to november 15th. the fight was initially set to air on netflix next month. the promotions company says tyson needs to get more time to train and prepare after he had an ulcer flare-up next month. tyson says, eh, the result will be the same on this new date with paul getting knocked out. he's very confident. >> you have to be. >> expected to be a big one. yeah. >> i'll ask my brother. thanks. contessa brewer. still to come, moody's putting u.s. regional banks on downgrade review. they're fearing the worst is still not over in commercial real estate. we'll talk to the ceo of one firm about that this, kimka realty, next. to start a business, you need an idea. it's a pillow with a speaker in it! that's right craig. a team that's highly competent. i'm just here for the internets. at&t it's super-fast. reliable. you locked us out?! arrggghh! ahhhh! solution-oriented.

[jenna screams] and most importantly... is the internet out? don't worry, we have at&t internet back-up. the next level network. i sold a pillow! (♪♪) 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 i don't want you to move. investment objectives, risks, charges, expenses i'm gonna miss you so much. you realize we'll have internet waiting for us at the new place, right? oh, we know. we just like making a scene. transferring your services has never been easier. get connected on the day of your move with the xfinity app. can i sleep over at your new place? can katie sleep over tonight? sure, honey! this generation is so dramatic! move with xfinity.

welcome back. high interest rates and inflation have been weighing on the retail space with more than a dozen retailers saying they'll close stores after entering bankruptcy proceedings so far this year like red lobster, the latest to file chapter 11. in spite of this, empty space is hard to come by as new tenants have been emerging fairly quickly. let's talk more about this with someone who knows directly about it, connor flynn, ceo of kimka

reality, leading owner and operator of more than 500 grocery shopping centers across the u.s. great to see you again. welcome back. >> nice to see you. >> things sound like they're pretty good for your space now. just explain what the fundamentals are showing. >> yeah. so shopping centers are having like a quiet revival, if you could call it that. it's amazing. vacancy rates are at all-time lows, and you're seeing new store openings outpacing closings nearly two to one. what's happening is retail 1.0 is being replaced by 2.0. if you think about red lobster and who's going to replace them, raising cane's is doing well, chick-fil-a, the in and out burger, quick service restaurants. and they've integrated a lot of drive-throughs to their business and the delivery, as well. >> are the footprints the same? i think of red lobster as a larger footprint than a chick-fil-a. >> exactly right. red lobster around 10,000 square feet, quite a large restaurant for today's -- most people grab

and go or do a drive-through. when you look at the red lobster real estate, it's in high demand. and you can take down the building and get two locations instead of the one. the rents are -- at kimko are so significantly below market that one replacement tenant will pay more than the existing red lobster so the second is gravy on top of that. >> very interesting. what about those big -- bed bath & beyond, who's going in there? >> another great case study. in the supply and demand cycle, nothing new has been built for over a decade in retail. what you're seeing is the demand side picking up and absorbing all that retail 1.0 space. so bed bath & beyond is a great example of that. we've got a number of tenants that have replaced over 30 bed bath boxes at 40% higher rents than what bed bath was paying. a combination of if your favorite tj maxx -- marshall's, home good, sierra trading post, burlington, ross dress for less, you've got planet fitness in the

gym space, to your point, they're doing new stores. dick's sporting goods and -- and they have a great concept called house of sports that they're rolling out. you've got grocery stores, traditional grocery stores, the discount grocery stores, the specialty grocery stores. we're talking about whole foods earlier. >> you've got those medical -- quick serve medical i guess -- >> urgent care facilities. >> that's right. >> pediatric urgent care. >> yep. >> there's a lot of like -- a lot of medical health and wellness is coming into the shopping center in a big way. and that's driving a lot of occupancy. >> would you see any -- if we say, okay, you probably have this amazing barometer of the entire consumer economy right now, and to your point, kind of the cost of direct to consumer the past decade, the internet-heavy approach, that's giving way to people realizing they need brick and mortar. do you sense signs of a pulldown in some kinds of stores, a pullback in shoppers? how would you describe the spend broadly speaking? >> i think what you've seen in the inflationary environment

that, you know, inflation for retail is actually mother's milk. if you're able to pass it on it the consumer. what's happened is in a lot of cases the lower demographic has felt the brunt of it. and you're seeing retrenching in retail. what's happened with walmart and target and a few others is they've squeezed the lower demographic to the point where they have to retrench. whereas the middle to upper shopper, that's really the kimko focus because we're a first string suburb, grocery anchored in the top 20 major metro markets, we haven't seen any patterns yet change. and actually traffic is up 4% year over year. so there's still that, you know, that -- we supply essential goods and services, right? you're going to the grocery store and then typically buying something else from a service provider, quick service restaurant, and we haven't seen that change in terms of their -- i think still the brunt of what's going on and the patterns are in the lower demographic. >> yeah. >> connor, always good to have you check in. good to see you have. a good summer. coming up, despite a tick higher in the unemployment rate, the labor market is still tight.

yet adults with disabilities continue to face a lack of opportunity. we'll speak to some folks who are trying to change that. [thunder rumbles] ♪ ♪

♪ ♪ 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] ♪ ♪ ah, these bills are crazy. she has no idea she's sitting on a goldmine. well she doesn't know that if she owns a life insurance policy of $100,000 or more she can sell all or part of it to coventry for cash. even a term policy. even a term policy? even a term policy! find out if you're sitting on a goldmine. call coventry direct today at the number on your screen, or visit coventrydirect.com.

[city noise] investment opportunities are everywhere you turn. do you charge forward? freeze in your tracks? (♪♪) or, let curiosity light the way. at t. rowe price, we're asking smart questions about opportunities like clean water. and how clean water advances can help transform our tomorrows. better questions. better outcomes. t. rowe price

welcome back to "power lunch," everybody. this morning's may jobs report showing the u.s. added 272,000 new jobs, more than expected. the unemployment rate rose to 4%, first time it's been that high in a couple of years. one area where unemployment remains disturbingly high is in the community of disabled persons. the unemployment rate for this demographic sits at 80%. join us is a familiar face, often joins us to talk technicals. today bill joins us to talk new path, an organization that prepares adults with intellectual and developmental disabilities for private sector jobs. also is elder suarez directory of bay services with new path. welcome to both of you. bill, what led you to this

passion of yours to help people from the disabled community, people with developmental or other disabilities, find employment? >> first of all, i wanted to thank cnbc for this great opportunity to come on and advocate for adults with developmental challenges, things like people on the autism spectrum, people with down syndrome, and most importantly address the business community. as you said, we had a great payroll number, very strong. as you and kelly have reported on for months, tight labor market, particularly at the lower end, a lot more demand for entry level jobs and supply. and what we want to get out, myself and elder and the people at new path, is that there's a whole hidden pool of labor out there. millions of people in this country that would love those entry-level jobs, that, you know, for them it's a life-changing experience. and for the corporations that hire them, they're going to get

somebody that's hard working, loyal, trustworthy, and somebody that's not going to jump from job to job. so i saw an opportunity as a business person to step in scoop i looked at the disparity and the unemployment rates among the disability community, and the population as a whole. i said it just doesn't make any sense. i knew i could tie the two together. that the business community would love to have a whole new pool of labor, particularly at the entry level. >> i work myself with a charity in northern new jersey with which kelly is familiar that -- we have a large presence in the housing and helping people with developmental disabilities. elder, so this is a passion of mine, as well. elder, what percentage of the people with developmental or other kind of disabilities are truly employable in the kinds of jobs bill was just describing? and there are probably some percentage of individuals for whom employment is not really a

legitimate option. >> yeah, like bill said, thank you for having us and the opportunity to give this presentation. you know, i think the numbers, you know, it's hard to define a clear number. i feel like the numbers could be a lot higher, you know, through the programs that we're having. really getting people trained out in the community, volunteering, working, you know, and having job coaches to the capacity. so you know, the numbers right now probably around 70% of our people could definitely be employable. we do deal with a bunch of, a variety of challenges when it comes to people with medical needs, one-to-one support. so they really require more intensive staffing supports. so yeah, the numbers can definitely increase on our part just with the job that we're doing here in new path and other agencies alike. >> elder, let's say you had a child with autism, a female, asking for a friend, and you wanted to think about -- okay, explain how exactly does this camp work, what are the options available when we're talking more of the intellectual disability and not the physical disability side? we know these numbers are on the

upzing. i'm securious -- upswing. i'm curious how you can transition people to what kinds of work exactly. >> yeah, for us, too, it's getting the word to school systems, the turning 22 population. myself and the crew, we've been really going up to the school violence and educating the -- the schools and educating the schools on what it's going to look like. bill and his team with the job coaches, this is the 11th year with the job camp graduation. it's an eight-month course. it goes through skill building, interview, resume, how to dress, money/banking. it really coaches our people how to get prepared to venture out into the business world. a lot of our people going way back, they haven't had these opportunities. so really just getting -- we provide job coaches. >> yeah. >> these job coaches are helping people. they're not leaving them out of the job, they're helping them, support them, one to one at the job until they feel comfortable with their employment. >> if you don't mind me asking, how much would something like this cost? we're talking eight months for people whose care might -- require high -- you know, a lot

of professionals working with them or what have you. that sounds like a pretty big investment. who is making the investment, and what kind of investment is it? >> yeah, kelly -- >> sorry. go ahead. yeah. >> you know, for us, we're funded through the department of adult mental services in massachusetts. so a lot of the funding comes through them. we do have fundraisers that we raise money to to support the cause to be able to prevent, you know, have initiatives like job care because the money isn't always there at the state level. so it's a lot of advocating, you know, to the state level, to state reps. you know, representatives in different facets to be able to get the money to provide these top of the line services, you know, to our people. >> all right. gentlemen, thank you very much. bill, let me -- one quick question here. i assume that you not only coach the individuals with disabilities, but you must coach the families, as well. quickly. >> yeah. i mean, for a lot of the people who have come through the program, working is a totally new experience for them.

we really welcome the support and collaboration of the parents and let them know that it takes a while, but we will eventually get them in a job. and these are life-changing events, tyler, for these people. so we've had a lot of amazing transformations here, and a lot of job placements of people that -- we were told never -- that that would never happen. so we're in our -- almost done with 11 years, and we hope to have many more years to come. it's a great program. >> thank you for sharing your story with us. we appreciate it. >> god bless. >> yeah. coming up, we'll trade three big movers of the day. we've had plenty of big movers today. which ones will they be, three stock lunch is on tap. as we head to break, cnbc is celebrating pride month throughout june. here is danny tang of fox zoo, founder and ceo. >> with the majority of fox's leadership team identifying as lgbtq we believe it's what makes us stronger as a company, fosters innovation, and allows

our company culture to thrive. i'm so honored to be a leader in this community and hope that our successes here at fokts zoo inspire other leader, entrepreneurs, and ceos to create opportunities and environments where the queer community can be embraced and celebrated.

glp-1 drugs used in weight loss treatments are a global blockbuster, even with unliked and inconvenient injections. more human study results for lexarias patented oral delivery technology are coming soon. lexaria bioscience. new projects means new project managers. you need to hire. i need indeed. indeed you do. when you sponsor a job, you immediately get your shortlist of quality candidates, whose resumes on indeed match your job criteria. visit indeed.com/hire and get started today.

welcome back. it's time for today's three-shock lunch. chris grisanti is chief market strategist at mmi capital management. we're going to start with 3m, which got on upgrade from bank of america and has continued to be a darling stock. new ceo, lot of fans there. would you be a buyer here? >> kelly, it's nice to be back, of course. i do like 3m. i'm a value guy. it's new management coupled with the needed dividend cut a few weeks ago. the story is not for the faint of heart. there's a lot of litigation risk, but there's also a lot of profitable, high-cash flow verticals, so you know, i think it's a good value speculation in the market that's pretty expensive. you're getting it about, i think, a third discount of what i think the true value is, so i like it.

>> all right. all right, let's move on to shares of lyft. those shares are higher. multiple analysts upgrading the stock to buy following its investor day. chris, what do you think? >> i am going to say i think you should avoid here, and the reason is i think that expectations were pretty low going into investors day yesterday, and i think they exceeded those, but i think those aspirational goals of, say, 15% bookings growth -- now, remember, bookings isn't revenue growth. they can be different, and revenue can be lower than bookings. i would say even that wouldn't be enough to justify the current valuation, and i think, you know, lyft is burger king to uber's mcdonald's, and they're not a price setter. they need drivers. they have a driver shortage. i think there's a lot of things that could go wrong, and you're paying a price that says nothing will go wrong. i don't like it. >> all right. no lyft. let's move from that to reddit, then, which is at the heart of the gamestop drama lately, but now that itself is public, it seems to trade with

gamestop. it's down 5% today. no other news you can discern. what's your take? >> you know, this is a tough one, kelly, because it's like a baseball player facing a knuckle ball pitcher. you don't know what's going to come down the pike, because reddit is a unique business model. it can easily morph into a meme stock, which i'm somewhat afraid of, so fundamentals go out the window, so i would hold it if i had it. it's done decently since the recent ipo. the other interesting thing about reddit is that its data, it's got tons of data on all the people that are on the conversation boards, can be valuable to a.i. firms, so that's maybe a hidden asset, yet i'm just unclear on the business model, and i'm just not comfortable with its uniqueness yet. i think we need a few more quarters of earnings reports and learning about it. >> i'm surprised you're even looking. i thought it was going to be an instant no way, jose. chris, thank you so much. >> yeah, maybe. >> maybe.

chris gisanti, thank you. "power lunch" will be back right after the break.

welcome back. after payrolls this morning, you see how stocks started negative on the session but quickly moved to session highs, the s&p moving to all-time highs, really, and we're now kind of with the dow up 40 points, a little bit in the middle of that range. yield, by the way, much more decisively moving higher. >> and wouldn't be an hour without a mention of nvidia, so here you go. the stock is splitting. ten for one as of today's market close, so don't be surprised when you tune in monday. shares have been trading on a split-adjusted basis on monday. the decision to split came following nvidia's blockbuster earnings last month. some say it could clear the way for the stock to join the dow. nvidia briefly topping the $3 trillion market cap level earlier this week. it is down a little bit, but

when you see nvidia at $120 a share, not $1,200 on monday -- >> it's going to feel so different. >> don't feel bad. you haven't lost money. you're okay. >> don't worry. boring kitty didn't get to it. >> boring kitty didn't get to that one. thanks for watching "power lunch," everybody. glad you could join us. >> "closing bell" starts right now. ♪ all right, guys, thanks so much. welcome to "closing bell." i'm scott wapner, live from post nine here at the new york stock exchange. this make or break hour begins with the markets and why big-time bull tom lee says he was buying stocks today no matter what the jobs report said. he's with me momentarily to explain. we will show you the scorecard now with 60 minutes to go in regulation. major averages have been a bit volatile today with investors deciding whether the better-than-expected jobs print was a bit too hot to handle, especially for a market still pricing in a rate cut later this year. however, 5,354 is a good number to watch. why? because that is the closing high. we were above that a few moments