welcome to "power lunch," everybody. alongside kelly avenuens. i'm tyler mathisson. stocks are lower across the board. nasdaq going back and forth between green and red, and for the week is dow is down 3.5%. this month, this quarter the dow is negative. >> but the s&p and nasdaq are both higher for all those time

frames. the nasdaq gaining another 3% this week driven by apple and nvidia. both of those stocks are up around 8% since monday, put their market caps well above $3 trillion. >> but we begin with a couple of controversial figures in the news. former and maybe future president trump pitching some novel ideas on taxes. and elon musk winning the fight over his pay package for now at least. we've got phil lebeau standing by on tesla, but let's begin with emily wilkins as today is trump's 78th birthday. happy birthday to him. emily, to you. tell us what he is thinking about taxes. >> well, tyler, if trump wins the white house and honestly even if he doesn't, key parts of the his 2017 tax law are set to expire next year, and trump has said he wants to extend those cuts and to make them permanent, but he also has some other ideas on ways to raise revenue. in a meeting with house republicans yesterday he pitched an all-tariff policy and

suggested it could lead to getting rid of the income tax. now, let's be clear a number of economists and tax policy experts were very quick to point out such a policy would not only shift the tax burden to middle and low income earners, but it would be pretty difficult to implement. a senior economist with the tax foundation tweeted the government raises about $2 trillion annually from personal taxes. tariffs raises about $80 billion, but look at this larger base. all imports total are about 3.4 trillion. that's not much higher than the tax revenue we get from income tax, and imports of course are a much smaller pool than personal income, so it'd be very, very difficult to have tariffs make everything we're getting from the income tax. the lawmakers i spoke with said, look, our take away is trump wants to increase tariffs. he wants to look at decreasing personal taxes, that they don't kind of see this as sort of a thing that will happen but a guide to what they might be able to achieve.

trump is also looking at some more corporate cuts. trump told ceos yesterday at business roundtable that he wants to lower the corporate tax rate again slightly to 20%, it's currently at 21%. of course a lot of what republicans want they're only going to be able to get done if they take the house and the senate and the white house this november. and guys, that could potentially happen, but if they don't, they're going to have to really limit some of their ambitions and find the things that can get done in a bipartisan manner. >> relying on tariffs to fund an "x" trillion dollar government seems a little bit impractical, though it was the day we funded the government back in the days of washington and jefferson and so forth. another thought on taxes would be to take away all of the various distinctions about how different types of income are taxed. in other words, capital gains, carried interests, dividends

interests. some are of them are subject to lower rates, some to higher rates. if you tax them all at the same rate, you probably would end up having a lower overall tax rate, wouldn't you emily? >> that could certainly be the case. i mean the other thing, of course, that lawmakers are trying to get at, taxes are about incentives. they're about trying to incentivize people to do things or not do things or invest in certain ways or grow certain things. so i think when you take a look at what lawmakers are trying to figure out, that's certainly playing into it. you also can't ignore we're in campaign season right now. just the other week trump went to nevada and he rolled out a pitch on not taxing any sort of income or revenue people might get from tips, and that's very strategic. nevada is on the map as a swing state for trump but also for the senate. they've got a key senate race there. if sam brown the republican can wind up taking that seat, it can actually flip the senate into republican control, and so that particular policy about not

taxing tipped wages it's something they hope appeals to blue collar workers and maybe makes a difference in a state like nevada. >> so i just want to ask folks on the crew here, if we went to tips, would you guys tip me at the end of every show so i could avoid -- i'm getting a no. >> how much would they tip? >> i'm getting a no they would not tip me. >> we could have a venmo at the bottom of the box. >> send some tips to tyler ma mathison. a tip jar right here on the power lunch desk. let's move onto elon musk. shareholders approving his pay package. can he keep delivering, and how about this big new vision now? let's bring in phil lebeau. phil sph. >> well, he thinks he can deliver kelly, and that's why you saw vintage elon musk yesterday at the annual meeting where he was riffing for more than an hour on his vision of

tesla for the future, humannoid robots, a.i., all the advancements he believes tesla is on the cusp of achieving. he didn't give a time frame, didn't give any specifics when we would see actual products rollout. that didn't matter to the people actually focussed on the fact he is in charge of tesla and will remain in charge of tesla. but if you're an investor and looking for something concrete, a signpost where you can say, okay, here's how the company is doing, these are three dates to keep in mind. and they're all coming up over the next six to eight weeks. q2 deliveries on july 2nd. the expectation is not that great at this point. people believe we could actually see another decline. then you've got q2 results, which could be challenging in the middle of july given the slow down in the growth of evs. and then you've got the robo taxi unveil on august 8th. so what do analysts think of all elon's comments yesterday? aside from the hoopla that was out there, adam jonas i think he

summed it up the best. he said shareholder votes are important but they won't get consumers to buy evs, speaking to the fact near-term it's the electric vehicle business going to drive shares of tesla. then you've got mark delaney at goldman sachs saying we expect weaker market conditions to weigh on earnings in the near to intermediate term. and dan leavy at barclay says the focus now shifts to tesla's stratanying pivot as we await roby taxi strategy where a great deal of questions remain. elon musk talked about some of his vision for roby taxis yesterday. here's what he had to say. >> you can add it to the fleet for a few hours, a few weeks, whenever you want it back and say come back and the car will come right back. and i'm highly confident that it will far exceed the value -- like the revenue made by the owner of the car will far exceed the actual monthly payment. and tesla will obviously take a rough share on that, but most of

the money will go to the owner of the car, and this is actually going to work. this is what will happen. mark my words, this is -- this is simply a matter of time. >> question is when? how far in the future is this actually going to take place according to elon musk? as you take a look at shares of tesla over the last year, and yeah, it's been a challenging year if you're a tesla investor and you just bought like a year ago or so you're probably saying where's the run up? where's the advancement here? by the way, elon musk guy says that he believes the tesla fleet because he sees robo taxi as tesla having its own fleet like an uber fleet and then tesla owners supplementing their income by allowing their vehicles to occasionally join the tesla robo taxi fleet for a few hours, few days. that's how he sees it happening in the future, almost like a mobile airbnb, if you will. >> there's a product out there

like that now where people rent their own cars out to individual owners. >> sure, turo. >> it's interesting. the whole idea of robo taxis depends on really perfecting, does it not, the ability of these cars to be fully autonomous drive and ready for anything that occurs on the road in front of them or behind them. >> well, this is where you get into an interesting discussion, tyler. right now there's about 40,000 people every year killed in automobile accidents in the united states. there is no doubt that as autonomous drive technology advances, that number should come down. it's not going to get down to zero. so the question will ultimately be whether it's five years from now, 15 years from now, 20 years from now, are we as a society willing to accept let's say 4,000 accidents that cause fatalities if the vehicle computer is at fault? or are we willing to say -- or are we going to say, wait a

second, that bothers me. there's a computer here and it made a mistake and somebody died? these are the kind of questions that will ultimately need to be worked out by regulators. so elon musk has already said, look, the computer is far better than human drivers. there's no discussion there. even those who are critical of robo taxis agree computers are better than humans. the question is will we be able to accept we're not just talking about tesla but all autonomous drive technology, you're going to see some fatalities, and as we saas a society and regulators willing to accept that? >> it's a really good point and goes into a political discussion and also goes into the tort bar, the lawyers who will have a big say. >> and insurance. >> and insurance companies will have a big say. >> and insurance. >> in whether and how far and how fast this technology comes online. phil lebeau, thank you. happy father's day. apple and meta could be the

first tech companies to face charges under the eu's new tech rules. steve covack joins us with a look it could mean for the companies. >> the eu has decided apple is in violation of that new big tech regulation under the law called the digital markets act. we knew this was coming months ago. the eu said it was fielding concerns and looking into whether or not apple was complying with the dma. and even though apple has made many changes for the law including having third party app stores for the first time, it still added new laws and regulations in the eu. the big one people had been wrangling against it's a 50 cent charge against the developers over a million dollars for every app download. the first charge could come in a few weeks, but apple could still avoid charges if it makes changes soon.

and it's already made a number of changes in recent months in reaction to the feedback it's gotten. but if it does happen and the charges do come through, apple could be fined up to 10% of its global revenue. that is not nothing. and let's go over to meta real quick. meta says it won't be launching its a.i. chat bot called meta a.i. in the eu. it launched a few weeks ago in the united states. this comes after the privacy regulators requested meta deliver its training a.i. from user data in the european union. we saw similar event last year when meta slowed out its rollout of a twitter competitor in the eu also over privacy concerns, ended up launching a few months later last december. we see these regulations going into full effect in the eu and causing our tech companies to slow down a little bit and take a pause and think about how quickly they put stuff out, and in apple's case whether or not they're actually complying with this really meaty law over there. >> are these cases likely to

produce long-running legal fights, or are we talking about solutions that can be brought to the table pretty quickly by some of these tech companies? >> it's been more of the latter. so what we've seen apple do over the last few months after this law went into effect, they've already dialled back their more aggressive positions, made a number of other changes, but they're still fighting some others including that ruling that's separate but related to these eu regulations specifically in music streaming this is from a complaint that spotify bought, they're fighting that -- they're repealing that decision as well. that was like a $2 billion fine. coming up retail is facing a bit of an arms race. tiktok is cornering the live shopping market. one brand making a million dollars in sales during a single live stream last weekend. that success explaining why more and more brands are turning to that platform even instead of amazon.

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welcome back to "power lunch," everybody. what you're seeing right now is the moment butter consumer brand canvas beauty made tiktok history hitting a million dollars in sales during a single live session. the tiktok global team celebrating with her as she passes the million dollar mark. last week the shopable livestream on tiktok shop not only achieved a million dollars in sales but generated 60,000 orders and gained over 25 million views. explain this phenomenon to us. >> so tic talk is the first company to actually make live shopping work. it's been huge in china for years. in 2023 that market worth about $647 billion in china, in the u.s. $50 billion. so a drop in the bucket, not that much. but tiktok has done something that all these other companies

haven't been able to do. amazon live has tried shopping, ebay, curate, the qvc parent company. everyone has tried live shopping as well as things like smaller startups, but it hasn't been able to take off. and the reason it's work so well on tiktok according to some of the sources i've spoken to is it's fusing social media, entertainment, and shopping. you are on tiktok because you want to look at great videos, you're there for entertainment, and as you're scrolling one of your favorite influencers, oh, what's this interesting icemaker or what's this interesting beauty brand i haven't heard of? and then in two clicks it's in your cart and coming to your house, less friction. >> like an instagram live event basically. it's not like when i'm scrolling and i see a static ad for a pair of men's shorts or a pair of shoes or about a watch or something like that. this is program like hsn or qvc, right? >> it's exactly like hsn or qvc, except you can interact, too, which is also what's making it so exciting and it's really

landing with the gen-z consumer, that younger shopper. you have the ability to comment and let's say you're shopping for new apparel or a new shirt and you've got somebody that's showing off this new blouse and i can comment and say can you show that from another angle? how would that work in a size medium or size 6? it's an engaging community building kind of experience. >> we have a little surprise. stormy steel herself the canvas beauty brand we just mentioned is going to join us. stormy, you there? >> yes, i am, how are you? >> congratulations. >> thank you so much. i really appreciate it. >> what was your previous high-water mark for sales? >> it was honestly on a single tiktok live i think we set the first record it was about $350,000 contributed to the live. >> wow. how did it work like gabby is describing were you able to

check these message as they were coming in, kind of show people what they wanted to see in realtime? >> we were. and just recently we broke our previous record. just recently we did a million dollars in sales in a single live. >> in is single thing. how long was this tiktok live open? >> we were on about five hours. >> five hours. >> wow. >> we should have a power lunch marathon for five hours and see if we can do it. that takes a little bit of stamina. explain what you sell basically. they're beauty products and fragrances of various sorts, right? >> our hero product is called body blaze. when we got on tiktok shop it totally took tiktok shop by storm no pun intended, and it went viral last august, and we have been on a high ever since, and the product isn't going anywhere. >> it's amazing. gabby, what do you think, as people see this success should we expect amazon and instagram and all the rest to jump in and follow suit?

>> that's why stormy's product was so successful is because tiktok has that viralality of it. it's something where you're watching a video and communities get behind it, and that's how it's able to grow and scale so fast. how what we're hearing from these cpg companies newer brands upstart such as stormy's company they're going to tiktok because you can scale like that. if you're trying to do that on amazon it's going to take you far longer. you've got to play the -- you know, make an offering to the sco gods, pay to boost your surge, competing against five other manufacturers and other people who may have your same product. stormy is able to do this just by herself by opening an account. that's huge. and shoppers want those new hot brands, and they're on tiktok. >> who handles sort of your back office affairs, stormy? in other words, payments and so forth? how does that get done? and i assume that -- that tiktok collects some toll of revenues,

right? >> so basically when you have a tiktok shop all of your transactions are actually done through the tiktok shop in their platform, so all of that is coming through their platform. they have something very similar to other commerce brands like a shopify et cetera. all of that is by tiktok once you open your tiktok shop. >> stormi, do you worry they're going to ban tiktok? >> of course. it's always top of mind and i would hate if they did such a thing because tiktok is one of those platforms to me it's for the american dream. our story is truly a story of the american dream. you get on social media, you have this vision and dream and have this platform that actually helps you reach consumers, and it's all based off your personality, just what you share. it's truly authentic, and it's truly low fiand raw, and you can't get that anywhere else, and i would truly hate to see tiktok go. i think it would crush a lot of people's american dream, and i

don't think that's right. >> we're showing here a bit of the moment again. did you go to a studio to film this? how did this work? >> our very first tiktok live was actually filmed at tiktok studios. that's when we set a regard of $350,000, and recently we broke that record of doing 1 million, and we did that right here at our warehouse. >> i think someone waving the cheer hand behind you to gin up the show. if you can do this how often you wanted, when do you think you'll do another one? >> we have another one planned next month. i'm really excited about that and hopefully we can break our record again. >> where do you source your products? where do they come from? >> we make our products in-house in our own facility in alabama. >> interesting. stormi, thanks for being with us. keep up the good work.

congratulations. gabby, thank you. firth urhead multi-million dollar coastal homes are falling into the ocean, and it's leading to a staggering drop in home values. when it goes into the ocean it does tend to effect the value negatively. we'll take a look at the rising risks from rising tides when we return.

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welcome back to "power lunch," everybody. let's check on stocks right now. the industrials are down about 114 points. they were much lower earlier in the session. s&p essentially flat though so is nasdaq, though it is slightly in positive territory. bond yields also falling dramatically. we hit 4.2 on the ten-year. let's bring in rick santelli to talk a little more about that. hey, rick. >> hi, tyler, indeed. this morning we had university of michigan sentiment, what was interesting here not only did confidence drop but counter intuitively inflation metrics rose. it is a survey, a little more qualitative than some of our data this week but worth paying attention to. as tyler pointed out we're only a couple basis points down on the day. look at the one-week of ten-year as it currently sits it's down

22 basis points on the week. twos are down 20 basis points on the week. as you open that chart up towards the end of march for 10s we haven't seen these closing levels since the end of march, 2 1/2 months and the dollar index in a counter intuitive fashion as well seems to be doing more on the up side on the relative value currency trade because it's on pace for the highest close in five weeks. now, we know next week we do have one day that's a holiday, but we also have retail sales and many, of course, analysts and sources of mine think that will be quite an important number given some of the more confusing metrics. but one thing's for sure this week some of the inflation numbers outside of michigan definitely eased back especially over a month over month basis. kelly, back to you. >> thank you, rick santelli. natural gas prices are down today and down 60% in two years, meanwhile, but that doesn't necessarily translate to utility

savings yet. what's going on, pippa? >> consumers should not expect any type of relief this summer on their electric utility bill. they're actually forecast to go up 1.8%. you have to remember the fuel cost is one part of your utility bill. the other thing is the wires and transmission, all that costs money to get that power to your home. and that's the portion of the bill the utility is allowed to earn a regulated return on. you see here we have this graphic. on that blue line you can see electricity prices have been going higher, and in the last five years they're up about 19%. on annual basis from 1395 to about 1642 last year. there's definitely sticker shock. however, if you look at the orange line that's where you adjust for inflation, so looking at that it's actually come down a little bit. however, the latest cpi report this week showed in may electricity was outpacing inflation up 5.9% compared to

3.3% cpi overall, and that rarely happens. part of that is because a lot of the rate hikes were delayed coming out of the pandemic and we had that big spike in fuel costs after russia invaded, and those are all pass through costs, but the ayootilt doesn't want to give you that all at once, so a lot of consumers across the country are still paying for that. >> what do people say over the next decade trajectory of electric prices given that we're using more devices all the time, given there are all these high demand installations of data centers and so forth, given we're going to charge more cars no matter what -- and are the companies going to be able to keep up with demand, or are they going to have to price their product much higher? >> i think one thing is that the portion of your wallet that spends towards electricity is definitely going to go up. if you switch to two evs your gas cost goes down but your electricity goes up. you'll definitely spend more

thanimate ofthen the actual demand front that remains to be seen. we're seeing projection how much data centers are going to require, and nobody really knows at this point. i think that's one of the hard things. it's really hard to forecast looking beyond 2030. however, the base is we're going to see this increase in demand and we have to build a lot more generation to meet up and then also make sure we maximize our existing infrastructure. we can do things like replace voltage lines so they're higher voltage, things like that, quick fixes that some people say utilities are not fast enough to do simply because they earn a higher rate of return on that new generation. yes, so it's very confusing to try to, you know, figure out -- >> a lot of moving pieces. >> yeah, make sure the costs. >> very complicated industry obviously. and government regulation of some rates makes it even more complicated. pipa, thank you. let's get to bertha coombs, cnbc update. the gop controlled house today passed the national defense authorization act, which

includes provisions targeting abortion and diversity, equity and inclusion initiatives at the pentagon. the final bill will require compromise with the senate, though, and democrats on the other side of the capitol called this version dead on arrival. the national transportation safety board opened a probe today into a southwest airlines flight on a boeing 737 max in may that experienced a so-called dutch roll. that's when the tail slides and the plane rocks from wing tip to wing tip. according to the faa there were no injuries, and pilots did regain control, but the plane did suffer substantial damage. and kate, the princess of whales or catherine, the princess of wales is set to make a public appearance for the first time. in a written message today released along with this new

photo the princess says she's still undergoing treatment, has good days and bad but will attend the turning of color on saturday part of the birthday celebration of king charles. she also says she's grappling with the being patient with uncertainty, something a lot of us know when you deal with these kinds of illnesses. >> thank you very much, bertha. coming up while tech has been soaring, we've seen weakness in the industrial space. we'll discuss that and maybe a few other things. okay, team! oh, thank you so much

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it's time for today's three stock lunch. our trader is bryan vindeg of mjp wealth advisor. welcome. first up today adobe shares soaring posting their biggest gain in more than four years and better than expected results. the shares up nearly 15% here. are you a buyer here? >> hi, kelly, yes. actually i was really encourage by the earnings report that came

out recently, and talking about second half demand and subscriber growth potentially improving due to as you said the a.i. improvements in software adoption. and so, look, the stock's been down 23% through last night's close. and we're hearing that here's a company that is looking at an annuity stream with its business with subscriptions as an alternative to that a.i. story, whichicize as we know has been primarily chips and servers. i like that right now based on what the company has been saying and what their outlook is for the balance of the year. >> all right, sticking with it. >> let's move onto cal pillar. broader weakness in industrials. caterpillar helping to lead the dow's losses today, near trade or big cat? >> i'm the big cat, tyler. you've got to be diverse tieified. i think this is great name when thinking about what can happen

to the global economy from a cyclical perspective. the company has been sound and affordable price ratio affaround 15. and talking about a stable business in light of a slower growing economy. and i think if you believe in the thesis of interest rates declining as inflation declines as we move into the bounds of this into next year caterpillar definitely can get a boost of lower rates being in a capital intense business. and also the fact we still have almost a decade in front of us of infrastructure spending with china stabilizing at these valuations that's something that looks attractive to me. >> all right, caterpillar. let's move onto hasbro shares today. they're talking about expectation rebounds from its digital gaming strategy. would you buy the stock here? >> well, kelly, i would say let's take our money and run when we pass go, so to speak, a

little monopoly reference there. i think today's bounce came from annalist upgrade to be honest with you and not necessarily the durability of the fundamentals of the company. just a couple months ago the company was talking about sales being at risk of decline or not growing as much as expectation. plus we know that this type of business is sensitive to consumer spending. and in light of some of the macro economic things going on when consumers have shown to be sensitive on price and maybe in the short-term a little bit more sensitive this year than last year, i've got to say hasbro being in the consumer product space might be sensitive to those demand shifts. so i would, again, put a sell on this one. let's take our money and run as we pass go and see how things play out for the company over the balance of the year. >> all right. brian, thanks for your time today. we appreciate it. all righty, still to come the rising risks facing coastal

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hurricane season is upon us and the forecast is for above average activity. this year up to 13 hurricanes this in addition to sea level rise has coastal real estate seeing flooding and erosion like never before. we've reported on the potential hit to real estate values, but it is now happening right in front of us at a faster pace than most people expected. diana oleg shows us in her continuing series on the rising risks from climate change. >> from dana point, california, to long island, new york, to nantucket, massachusetts. some of the nation's priciest coastal real estate is in an increasingly precarious position due to climate change.

>> they're buying them knowing they're going to lose them. >> this nantucket home was listed last summer for just over $2 million. but in the fall a barely notable nor'easter wiped away an astounding 70 feet of the beach it sits on. thanks to sea level rise and unusually intense rainfall. the house sold this year for just $600,000. the buyer told the boston globe the price mitigates the risk, and it's not the only one. >> there's been several. one sold in the mid-70s and one sold in the mid-8s, which i know that sounds like a lot of money but those houses if they weren't at erosion risk would have sold for i don't know 10, 12 million. >> reporter: shelly lockwood just launched a seminar for fellow agents to help them reprice homes at risk. >> i saw houses selling and i thought that's not worth that. it's falling into the ocean. >> reporter: on the eastern end of long island in montauk back-to-back storms this winter

had the community scrambling to bolster its beaches and protect its multi-million dollar homes, as the water came in faster than ever before. >> where we've seen flooding in the past and the water subsiding right away, it's not subsiding anymore. we have a friend that has a $10 million home, and he's not even sure what to do with it because if he sells it, it's never going to be the $10 million that he bought it for. >> looking at zip codes just on the east and gulf coasts of the u.s. these 33 have a median home value of at least $1 million. and in just these areas a combined 77,000 properties are at significant flood risk. according to models by first street, a climate risk data and analytics firm. that is roughly $100 billion in potential losses. >> i think we just put our head in the sand. values weren't going down until the last ten years, and it's still been kind of quiet

reduction. >> reporter: attorney chris farley is working with nantucket home owners to help reduce their property taxes as both the beach and their values erode. some homes have been reassessed while their neighbors haven't. >> this house behind me, for example, is 2.2 million, but the house two doors down is half a million dollars for their land value. and the house on the other side of that is $250,000. >> reporter: all three homes sit on the same cliff that is quickly losing ground. >> in the last six months this has eroded i would say 12, 15 feet of sand is gone. >> reporter: and these protective tubes -- so we're not supposed to be seeing this? >> this should have been covered. >> reporter: an one beach it's erosion, on another the rising ocean has pushed sand so far as to bury the homes. >> this was not like this last fall. this has happened this quickly. >> reporter: all this sand coming up here like a snow dune. >> see that? that was their septic?

these things are not useable anymore. once utility wires and septic systems get exposed the city has to condemn the property. >> reporter: he watch interview from his front steps. he's owned his home for 42 years. >> we all say one more year. right now if it wasn't at erosion risk 2.5. >> and now? >> i don't know if he could sell it, maybe 5, 500 maybe, but you would have to have some buyer willing to lose it. >> as more and more homes lose value and see their property taxes reduce, the local economies could take a hit meaning taxes for everyone else could then go up. nantucket residents are voting on which parts of the island need the most help and who will pay for it, while in montauk experts are reassessing coastal plans made nearly a decade ago after super storm sandy because they're already outdated due to climate change. >> diana, this was really eye opening. to see properties where they really can't re-claim any value,

have they talked about trying to do things like build out the beaches and add more sand? i know it sounds crazy and expensive but for that kind of loss even on the tax revenue you described you think towns would be trying to come up with something. >> you saw the enormous geotubes and see sandbags and moving them all over the place, and that costs millions of dollars to do. and the problem is as fast as they do it, the ocean just comes in and takes it away. >> wow. diana, thank you very much. we appreciate it. coming up competition remains strong in the cnbc stock draft. new leaders constantly emerging. we'll get you the very latest when we return.

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♪ welcome back. team for a quick power check. on the positive side adobe surpassing expectations on earnings and revenue, up 14% for

the day, $66 a share. negative, carnival corporation. some new pricing worries from a bank of america report saying cruise ticket fares are going to start to fall. that's your "power check." and, remember, you can always hear us on our podcast. be sure to follow and listen to "power lunch" wherever you go. we'll be right back. 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.

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welcome back to "power lunch." the dow is down just about 75 points or thereabouts. lower for the week as well, but s&p 500 and nasdaq higher for the week. our thanks, in part, to apple which is up 7% this week alone following its worldwide developers conference results and it's now neck and neck with microsoft and nvidia for the market cap lead. there you see apple and microsoft really, really close. on monday's show we have a

three-way bullfight, three analysts, trillion that are companies, apple, nvidia and microsoft, which is the best bet to get to $4 trillion. big gains for tech steady eddie george into first place in our stock draft. thanks to nvidia and apple, his two choices. in second place is nev schulman who wept with a footwear strategy taking boot, barn and crocs. perlman took gambles on bitcoin and carvana. he has given up the lead to steady eddie journal who joins us now. hi, eddie. good to have you with us. >> i'm great. i feel really good right about now. >> you should feel good. nvidia has just been a juggernaut for the past couple

of years, and apple has come back and now trading near all-time highs. you really couldn't have expected to go 2 for 2 that way. >> well, you know what, going into the draft i felt good about my opportunity to pick second overall. i think the first team took meta and left nvidia sitting right there. i felt good about it. let me just say this, i've been in the business, wealth management business, for almost a decade, a partner with ameriprise, my masters in business from northwestern. i had lost my business partner, in the business for 30 years. we put our heads together, tried to figure out what was the best opportunities here. we felt good about nvidia. clearly you could pull up, look at cnbc, look at google, the news of what they've been able to do. certainly with apple with their products that are coming out with a.i. and how it's

exploding, i mean, it's just been perfect time for us to jump on that and i feel really good about or position but, more importantly, the two companies led by two great leaders has been phenomenal. >> well, that's absolutely true, and i must say it's great to see a guy like you have a second act that's just as good, maybe even better than the first. congratulations on that. >> thank you, thank you. >> let's talk about eddie george, the wealth manager, apart from making good picks in a stock draft, which is kind of a fun competition, what do you look for? >> we look for value opportunities for our clients. it's really according to what their goals and objectives are. it's never been about getting a commission for us or what's best for edward george in terms of our commissions. it's been what's good for our clients, so it's really about our four pillars, the

transparency in terms of us being transparent as far as our operations and how that goes. we don't deal with a lot of clients. we deal with high-worth individuals, billionaires, athletes, current and retired athletes, which also leads to trust and operating with a high level of integrity. we're always looking for those value picks, those opportunities that we can say, okay, how can we make our clients the best money according to their goals and objectives. >> we have about 45 seconds left. i am ready for some football, eddie. i'm missing it. i'm ready for it to be here. >> me, too, tyler. i am, too, man. >> i am saying right here right now the ohio state university is going to be the number one team in the country this year. >> i agree. i'm the head coach at tennessee state. i would like to say we are going to be the number one team in the country, but based off what ryan day and their staff has been able to do over the course of

this year, really put together a great roster. the quarterback position is going to look different than it has in the past, but i think the addition of chip kelly, their offensive coordinator, the rm toer coach at ucla, will bring a run game that is powerful. i like their chances of possibly winning a national championship this year. >> got to leave it all. eddie george, thanks. happy father's day, everybody. see you monday. all right. ty, thanks. welcome to "closing bell." i'm scott wapner, this make-or-break hour, the fed meeting behind us, apple shares surging this week, earnings are still a few weeks away. so what's the most important catalyst to drive stocks? we'll ask our experts that very question over this final stretch. in the mean team, let's show you the scorecard with 60 minutes to go in regulation. the nasdaq has gone positive actually trying to get there, as you see, it's back and forth. industrial names, though, they are dragging the dow lower and have been all day