"squawk alley" is live. ♪ ♪ make a big noise playing in the street ♪ ♪ going to be a big man some day ♪ ♪ you have mud on your face you big disgrace ♪ ♪ singing we will, we will rock you ♪ welcome to "squawk alley." joining us the ceo of "the daily mail" north america and john ford and kayla tausche here. good to have you back. >> good to be back. >> happy monday. first the markets. we are in rally mode all morning, all major averages are now positive and the dow is up about 195 points. of course climbing on the back of that greek debt deal overnight. there are four big-name companies all trading at all-time highs. among them facebook and amazon. facebook and amazon up about

2.4%. you see disney and comcast up by about 1%. some news involving our parent company, comcast, we'll get to later on. the question we're asking right now is will the markets continue to stay in positive territory? and chief global investment strategist at charles schwab, it's good to see you this morning. >> thanks for having me on this morning, kayla. >> the conversation last week was about how tiny the greek economy was in the grand scheme of things and now it is this greek debt deal, this greek agreement to agree with europe that has pushed us into such remarkable, positive territory. what do you make of this? >> well, while everyone was freaking out over the possible ramifications, the economy has been on a good pace of improvement whether you look at the purchasing manager's index rising since december, the pace of retail sales, loan growth, car registrations, so many things improving in europe.

now that the distraction of greece is out of the way, focus is back on the fundamentals and they suggest earnings may turn up in the eurozone after pausing for a few quarters in the second half of this year and that's good news for the markets in europe. >> so you see the distraction going away? we still have some finer points of this agreement that need to be worked out over the coming days. you don't think we'll see any hiccups? >> you know, certainly there could be some volatility around the issues. the fact that an exit of greece seems to be pretty far off the table now, sure there might be issues getting things passed by wednesday, there might be issues with getting things, the major issue, the larger contagion issue seems to be off the table and now we're really talking about relatively minor issues for a small portion of the eurozone economy. >> jeffrey, how much of this is china, too? we're on the third day of the markets there calming down as i look at some stocks in tech that seem to be doing pretty well. j.d. is one, up better than 5% today, nearly 7% for the week.

that's one that's been moving along with the news coming out of china. >> yeah, you know, china seems to have stabilized their markets but, unfortunately, undermined a lot of the pro-reform momentum that they have had in place. so i think the jury is still a little bit out on what this might mean longer term for china's economic growth trajectory. in the near term the pmi is picking up. growth seems to have stabilized within china and they certainly have the tools to maintain growth there. we like technology. we also like the financial sector globally in europe and also in asia. >> perhaps china, jeffrey, is one reason we have seen oil holding firm, still just above that $50 per barrel level. and that comes as we're nearing the prospect of an iran deal. where do you see oil going from here? >> most likely headed a bit lower. two factors, one we still think there's room for the dollar to appreciate here given the difference in monetary policy here and elsewhere around the world.

that should mean lower oil price in dollars, but also, when you look at the iran deal, that's coming down the pike. should lead to longer term. more supply coming on the markets and that's been the bigger factor than demand. i think we're probably seeing marginally lower oil prices in the coming quarters. could be good news for global economic growth. >> we're looking at the dollar index now up just shy of 1%, and it still seems to be the number one complaint of companies, of multinational companies, and we are seeing earnings momentum pick up. do you see this being the culprit, so to speak, for a lot of revenues again this quarter? >> when i looked at all the countries in the index the last quarter, i looked at what they saw in terms of their biggest driver of weakness in earnings. it definitely was currency, about six in ten said currency. i think that will fade as we get q2 numbers. we didn't here about it in the preannouncement season. we may get better news around currency. the dollar has stabilized a bit.

oil stabilized the last three months. we may get a better tone notably around the two big drivers, oil prices and currency that were such a big drag on q1. >> you said you liked financials. anything else you would buy going into this week as we're being set up for janet yellen's testimony? >> it seems global risk levels are receding. the fed will probably cite china and greece. they may note those concerns are receding a little bit and we might see market expectations for the rate hike go back up. i still think that's great news for the banks here in the u.s. and abroad, financials, i think, benefit as loan growth picks up here. i think that's a real positive in the backdrop here. global confidence returning after what's been maybe a bit of what's taken place overseas. >> i like the phrase greeking

out. hopefully that distraction ends and we can get the issues solved. jeffrey kleintrop, we thank you for your time this morning. >> my pleasure, thanks. as we speak hillary clinton laying out her economic policy agenda in a speech that wrapped a few moments ago taking on parts of the new economy including companies with services like uber. take a listen. >> many americans are making extra money renting out a spare room, designing websites, selling products they design themselves at home or even driving their own car. this on demand or so-called gig economy is creating exciting opportunities and unleashing innovation but it's also raising hard questions about work place protections and what a good job will look like in the future. >> let's talk to john harwood who has been at the event all morning long.

your take? >> reporter: carl, she went even further when she talked about prescriptions for dealing with those work place protections. she said that she was going to stop the exploitation of workers who were misclassified in her view as contractors rather than employees of those companies, and it's all in the service of an attempt, a broad-ranging attempt across a number of fronts, regulatory and other measures to try to increase the middle class incomes which has stagnated for 40 years. she signaled that president obama has gotten the economy back on its feet but workers are not moving ahead. take a listen. >> while america is standing again, we're not yet running the way we should. corporate profits are at near record highs and americans are working as hard as ever. but paychecks have barely budged in real terms. >> reporter: now she also had some harsh words for wall street.

tie in to drug cartels. she condemned that. said she would look at more regulation of high-frequency trading, that she would push back against the attempt by lobbyists to weaken dodd frank. she did not indicate she was going to change dodd frank with one exception. too big to fail remains too big a problem. that's not the same thing as calling for a breakup of big banks as bernie sanders and martin o'malley have done. we'll wait and see the next few weeks when she lays out the details of her policies exactly what she means by that, guys. >> is there a sense that it's a little bit politically motivated? given the economy is such a small part of the economy right now, it seems odd to call out uber and air b&b. what's the general sentiment in terms of reaction? >> reporter: well, of course it's politically motivated. we're in a political campaign and she's trying to appeal to workers and address the

frustration, the anxiety, the anger that a lot of americans feel that they have not been moving ahead and, yes, the sharing economy is a small part. it illustrates the decline in jobs with big corporate america with big benefits, with vacation time, paid leave, all those sorts of things are not present in growing aspects of our economy and she has indicated she will try to do something about it. >> john, this seems potentially dangerous for her, at least to me, because this on-demand economy very near and dear to silicon valley's heart, a place where other democrats have wanted to go to raise money. the president was just at a big investor's house in uber. she's hitting it directly with this classification issue. she called it exciting, this on-demand economy, but she didn't look excited.

it was like calling brutus an honorable man. how does she square that circle? >> reporter: well, look, hillary clinton is going to raise a lot of money in the campaign. she's raised some $45 million between her campaign and super pacs so far. obviously silicon valley is a key target. i would think hillary clinton would appeal to silicon valley on some of the other issues important in the democratic party, cultural issues, gay marriage, other tolerance and diversity issues she also addressed in that speech. yes, there will be lines for republican candidates to go after her and try to pressure that support from silicon valley, and i think hillary clinton, given the challenge she faces from the left, imperative to mobilize the coalition is willing to take that risk. >> increasingly we're in a new gear when it comes to the political season. john, get some rest. you're going to need it. john harwood joining us from hillary's speech in new york city. when we come back after a break,

it's apple versus the feds. why the company's facing some scrutiny today. paypal founder max levchin here to discussion his latest venture. the s&p stringing together a very good three days here. ♪ i built my business with passion. but i keep it growing by making every dollar count.

that's why i have the spark cash card from capital one. i earn unlimited 2% cash back on everything i buy for my studio. ♪ and that unlimited 2% cash back from spark means thousands of dollars each year going back into my business... that's huge for my bottom line. what's in your wallet?

welcome back to "squawk alley." john steinberg is still with us this morning. a lot of news about apple today including reports that the ftc is reviewing whether the treatment of rival streaming apps is illegal under antitrust law. apple takes a 30% cut of all in-app purchases and some rivals complain the cut forces them to either charge more or lose profit margins. this is all according to reuters. talk to ing to industry sourcest a formal investigation. is it being big? >> really, government, this is the issue? apple has less than 20% of the smartphone market. spotify has 80%. and apple has a new streaming product they're launching to deal with the fact itunes is declines. it's terrible. you're going after someone in a space they're bad at? this is what the government is

using its time for? >> i don't know it's terrible. >> it's not good, john. the reviews have been bad. >> the reviews from some have been bad but i'm using it instead of pandora and it's pretty good, not terrible. boohoo, apple is eating my lunch. apple is big. it eats people's lunches. they're not a monopoly. what's the government's -- >> they only earn 92% of all smartphone profits in the world. >> but they don't have dominant market share. they're able to extract profits have a very small base is good for them and this is very much like the example we point to, microsoft with the browser. apple needs to have a place and now the government is saying you can't compete. >> here is my question. could an app like a spotify or pandora restructure in a way it charges customers to avoid doing an in-app payment? just lead the user to the browser then to process the payment? would you avoid having to pay apple? >> that's what amazon does.

you can't buy a kindle book through the kindle app. you have to go to the browser. 80% of the market is and right devices. a much bigger market to go after. >> the apps are more worried about leakage out of the apps, people who would not be buying the service if they were led out of the app. they want to capture the person within the app but they don't want to give a third of the profits to apple. can you have your cake and eat it, too? >> i don't think you can. it's about friction. you don't want people to have to go through this cumbersome process. you would lose people who would otherwise convert and that's how apple works. we were talking about the commercial where they talk about hardware and software working together. it's that experience keeping you inside which is why they monetize so well. >> that's the whole reason for amazon prime and the big debate now about walmart and amazon trying to make this wednesday into a special holiday. on apple it did get down to 119 last week and that was enough of

a discount to take it to a buy. we'll find out what the quarter looks like. what phones and pcs in this report on pc sales down 9.5 is amazing. >> let's talk about the 92% profit margin thing. apple takes 92% of the profit in the smartphone arena on a day we're seeing go pro have a new resurgence, fitbit got a positive initiation note today as well. it has amazing software and beautiful hardware. it's not the fact that they do a phone so much better. for go pro and fitbit, two stocks we're watching today, the big question, can they do an apple? >> an asterisk on that 92%, they don't add up to 100%. samsung gets 15% and a bunch of people lose money. you're not counting business models that aren't based on making money off the hardware as much as the services. >> in the fitbit initiation they talk about the competitor that has a decent share of the

low-end market. i've used it. it tracks sleep very well, tracks motion very well. the software is not that good. that's why fitbit maintains the pricing power. >> streaming is in focus this morning as our parent company comcast announcing it's jumping into the game, revealing a new cable streaming service called stream that will include live tv for $15 a month. we want to explain how this fits into the whole narrative of streaming? >> i can't believe it's happening so fast. whenever i say television as we know it is not going to be here in five to ten years i get groans and eye rolls. comcast going over the top. granted it's just hbo and broadcast networks. they don't have espn who has been litigious. >> one of the surprises in this are the cities it will be rolled out in. boston, chicago, seattle later this year and if you're surprised by those cities, remember that comcast can only roll out streaming where it has a current footprint. so that begs the question in my mind, will the truly dominant

streaming platforms be footprint agnostic? >> i think when i look at the comcast package it's getting a lot of criticism as does anything comcast does. a lot of people hate comcast. they're focusing in on in-home streaming on the one hand but giving people access to tv everywhere for outside the home. i think you've got to expect a company that makes so much money on the more traditional model not to jump in too deep on something brand-new but it's a good question. netflix isn't restricted in certain cities. they have a streaming model. >> can operate in new york city. >> well, this is a subsidy to their broad band business. they sell broad band. they get this over the top thing. let's talk about the netflix note because you bring it up. with the bullish of bull notes saying they are going to go to 65% of the domestic market in the u.s. by 2020 and saying

internationally they're going to go from 20 million subs to 111 million subs by 2020 as well and have market expansion because that content they'll blast out to the international markets. what the world is saying today, kayla, your comment aside, does comcast get to be a little bit like netflix now? is this a toe into the netflix water? >> netflix hit 711 this morning which is clearly an all-time high. it settled back just a touch. you know what else is at an all-time high today? comcast. 64. began the year in the 50s. >> goldman is not an effusive analyst. he doesn't write these super bull notes. i had to look twice to see it was a goldman note. that's indicative. >> thank you for joining us here. >> and moving on to a little sad news for the tech world. nintendo president satoru iwata, head of the company for more than a decade, has died at the age of 55. iwata died after a year long battle with cancer. he was only the fourth person to

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while the weekend in europe, you would expect green arrows on some of the news. simon? >> what we need to watch is the potency both if greece and other creditor nations in the wake of the deal. for the moment clearly the stock market has rallied strongly as you can see. a lot of people still believe greece will exit the eurozone, socgen is keeping 65% probability over the next one to three years and, of course, the european central bank has this morning announced it's not going to increase the funding to the greek banks, so they're not about to open anytime soon. it's important, too, because the negotiations haven't restarted. greece has to follow through. i'll come to that. it's important to understand the context of what is going on, "a" with the stock market. a chat of the last three months and how we traded in europe

versus the united states which has held the flat line, particularly the destruction over the last two weeks of chaos on the stock markets in general which has taken us down for a loss of, say, 10%, during that period of time and also the greek economy. there's a suggestion from one of the diplomats quoted by reuters, the greek economy may have lost 50 billion euros of value and at the same time jpmorgan is suggesting it's contracting at a rate of 10%. so the heat is on stsipras. he has resumed sacking ministers, forcing resignations from his own left wing in order to produce a power base in parliament that can push through those is he, very serious reforms the rest of europe is demanding that go way beyond what the greeks rejected in the referendum a week, two weeks ago. this is the timetable he is now on. this is why there are so many things to watch during the course of the week. we're not out of the woods with

greece yet. first of all, by wednesday, major trigger point. they have to pass six sweeping laws, six reforms, if you like, they've already rejected in the referend referendum. he has to have the political ability to get that through parliament. that would turn six other parliaments, including the finns and the germans, to pass resolutions that say, yes, let's start talks with the greece. what will draghi say about the greek banks? are they solvent? then tsipras has to pass even more sweeping reforms through the greek banks. the immediate question is what will the backlash be in greece to this? can he get it passed in the greek parliament? if he can't, the money doesn't flow and maybe a snap election. >> some anecdotes in the papers are saying tsipras wasted five months and got the same deal. >> yeah. the question is if you go back to elections what do you return?

an even more angry government or one willing to play ball? >> simon hobbs, thanks so much. max levchin is aiming to help students. he'll join us with his latest venture coming up next. but what if you could see more of what you wanted to know? with fidelity's new active trader pro investing platform, the information that's important to you is all in one place, so finding more insight is easier. it's your idea powered by active trader pro. another way fidelity gives you a more powerful investing experience. call our specialists today to get up and running.

good morning, everyone. i'm sue herera, here is your

cnbc news update. wisconsin governor scott walker announcing he's running for president. he tweeted i'm in while releasing a campaign video declaring his entry in the race. he is the 17th republican candidate running for president. walmart launching a rival sale to amazon's recently announced prime day on wednesday. it will offer more than 2,000 online discounts on electronics, toys, home and baby items. it's also lowering the minimum order for free shipping from $50 to $35. 23 people were killed, 19 others injured, when the ceiling of a russian military barracks collapsed in siberia. rescuers searched for hours for men trapped of the cause of the accident not yet known. curtis jackson, the rapper known as fifty cent, has filed for bankruptcy protection in hartford, connecticut. the filing comes days after a jury directed him to pay $5 million to a woman who sued over the release of a sex tape. that is the cnbc news update

this hour. let's get back to carl and "squawk alley." thank you, sue. that is a remarkable story on fifty cent. we're going to continue to watch. i remember talking not too long ago about how much money he must have made off vitamin water. it's hard to believe that's gone. >> he's had a number of business ventures. he has the show he's doing i believe on starz. he has the head phone business. he put a couple million into floyd may weather's production company that was supposed to come out with a reality series and never did. you wonder what else he put money into that didn't materialize. >> we'll see if it's a strategic legal maneuver or more down the road. we want to get to eamonn at the white house. >> reporter: treasury and the fed and a host of federal regulators are out with a 70-page research report looking at the so-called treasury crash.

back in 2014 there was a spike in volatility and movement in the treasury market on that day. since then this are federal regulators' efforts of what happened on that day and the takeaway they come away with, they can't pin down any particular cause for that flash crash. what they're saying there were a host of factors that might have contributed to that including a high level of cancellations of orders that were going into the system but being canceled almost instantaneously. also they're saying there was quite a bit of self-trading, firms trading among themselves within different desks of the firm or different algorithms run by the same firm trading with each other. they're saying they're putting to rest here a couple of theories that had been out there about this so-called flash crash, one that there was a fat finger trade. they say that didn't happen. the other one there was some kind of unplugging where various sectors pulled out of the market at that point. they say that didn't happen. they also said there was no

significant position unwinding here as people tried to wind down various positions all at the same time, but the takeaway you get when you read this report, carl, the treasury mark has changed dramatically. market structure has changed dramatically. increasing position of traders in the market. real concerns on the part of the department and reserve about liquidity going into the move on interest rates next fall. they say that could have some impact, guys. >> all right. thank you. often hard to figure out parts of what went wrong in those cases. thanks for bringing us that report. affirm is moving beyond consumer financing today as it begins to offer education financing. the company is going to offer loans to students attending coding, design, and business education programs by companies like general assembly or block. the co-founder and ceo of affirmed as well as co-founder of paypal, max, tell me what is

the reason for your approach here? affirm's model you don't do compounding interest. you try to make everything very clear up front. you pay the institution for the student so the student doesn't have a lot of hassle. what's the business model here? >> the business model is as honest as honest lending itself. we pay for your education. you get a degree. you get a certificate. you become a much higher earning individual, and you pay us back with interest. that's it. simple, transparent, honest. that's always the core value of affirm. education lending is probably the single highest form, if you will, of lending money. a way to take money up front, invest in yourself, improve the quality of your life. >> is there a reason you focused on coding schools as opposed to maybe acting schools?

>> a coding school and product design school, things like that, fundamentally answer the painful lack of those skilled workers in the economy that i'm part of in silicon valley and in the u.s. overall. the new economy is connected to software development. it's connected to dependent on product design, business acumin. that's, i think, where the best earnings will come from. where we want to help subsidize and with that we will look at other segments but that seemed the most natural place to start. >> the two riskiest attributes of student loans seemed to be two things. number one, students have very little credit history and, number two, there's no collateral. you can't repossess someone's education. how do you solve for those given that you're going to be working primarily with coding schools? it would seem those still exist. >> it has a lot to do with our core competence, understanding risk, evaluating ability and willingness to pay.

one of the things that pays strongly in our favor as these people come in, they're fundamentally borrowing money to sometimes quadruple and frequently double their earning capacity. an expanding earnings capacity as opposed to contracting. there's always risk that's why we are a lender. that's where our value as to the schools comes in. we are fundamentally helping more students take on these classes and some will not be able to pay but most will and that's our service. >> can you give us a sense, max, as to where your assumptions are coming in on defaults? how many of these people truly will fall into arrears or simply not pay you back at all? >> it's a little too early to tell. we only ran a very small pilot the last couple of months. we are obviously very confident in our ability to make money, to put more people through school. so we're very, very confident we'll be able to take on these risks and have high approval rates, which is what we're shooting for here.

ask me in six months and i'll tell what you will happen. >> macx, give us your take on this new payments innovation space. paypal is ready to be its own separate company again. we have apple pay, samsung pay, also you're trying to do some innovative things in the loan space. what's different two years from now that will most impact consumers' every day lives paying for things, selling things? >> i think it's the single most exciting time, probably even more exciting than what i was doing in my 20s during the paypal revolution. the point of interactions are now finally shifting to a little bit more. that's a pretty great user face, if you ask me. the lending space will fundamentally change. will see a lot more entrants. all kinds of exciting things happen. one of the most interesting at the macro level, the generation

that we serve fundamentally does not care for complicated fees, hidden fees, late fees, all the things that made traditional financial institutions lose the reputation with these people and their parents during the 2008 financial crisis so one of the biggest opportunities i see is the ability to create new brands, new names in the financial services ecosystem built on honesty and transparency. that's what we're trying to do. i think you'll see an influx built around trust and the reason apple -- one of the ways you can see apple entering so rapidly they are a loved brand. they will do very well on payments. >> max, beyond the realm of lending, we would be remiss not to ask you about two companies you're involved with, one yelp. reportedly up for sale. now reportedly that sale has stopped. the other, paypal, a publicly traded company. can you comment on the prospects for a yelp sale and paypal's

first trade? >> i certainly can't comment on things like yelp rumors, but i'm bullish on the company for the long term. it's got an enormous amount of potential. i'm very happy that they're going strong. paypal, i'm very proud of my teenage child, if that's the way to put it. they have all sorts of stuff waiting for them. it creates a lot more scrutiny but gives you opportunities. i think that's going to be pretty fascinating for them again. >> all right. you raised it well, max. we're excited to see where it goes next. max levchin, founder and ceo of affirm. >> thank you. when we come back, keeping our eye on the markets. the dow continues to be up around 200 points. the s&p up. rick santelli, what are you watching today? >> reporter: we're going to talk about that treasury information eamonn javers brought us.

we'll also talk about what real data dependency means as we get ready for a couple days of testimony by the head of the fed after the break. [ radio chatter ] ♪ [ male announcer ] andrew. rita. sandy. ♪ meet chris jackie joe. minor damage, or major disaster, when you need us most, we're there. state farm. we're a force of nature, too. ♪

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i built my business with passion. but i keep it growing by making every dollar count. that's why i have the spark cash card from capital one. i earn unlimited 2% cash back on everything i buy for my studio. ♪ and that unlimited 2% cash back from spark means thousands of dollars each year going back into my business... that's huge for my bottom line. what's in your wallet? coming up at the top of the hour, stocks with their best three-day stretch on word of a greek deal. now what? some big earnings looming. plus, deal maker extraordinaire martin frankly is live. the founder and chairman of

consumer giant garmin tells us about his deal. and our portfolio challenge, going from all cash to all in. we'll tell you what he's buying and why. carl, we'll see you in about 15. let's get over to the cme group and rick santelli. >> reporter: hi, carl. i loved eamon's report on the findings and the general information regarding that flash crash we had on october 15 of last year. truly it was just a potpourri of wonderful information. the ten year close that had in the form of its settlement. the low yield that day proved to be very significant. when we zoomed down to make our 164 low closing yield of the year, very significant. now why do i bring this up? because some of the things eamon said ring true if you're a floor person, of which i hang around

many. cancels. a lot of cancels. high-frequency trading thrives on cancels. it's like plants and water and sunshine. you take the cancels. if you were to charge for them. that high-frequency trade plant isn't going to grow in the same way. algorithms, remember a couple of santelli exchanges, one-way streets. it's either all one way or all the other. there's very few four lanes in one direction at the same time as four lanes in another. so, really, when i see the information eamon reported, what i would say is most likely it's going to get worse and any fix will speed up exits in areas of the marketplace that may be proven to be in the future thin as in 10, 15, or other issues that have affected liquidity because we've recalibrated those who service things like fixed income markets. we've separated out from the growth in those markets, think corporates in particular. now to another area.

i think the feds painted into a corner. we talk about data dependent but it has lost all credibility as many have written. why? it's ultimately about level or direction, and you can't have both. meaning data dependent, giving it zero, makes no sense. but if you forget level and consider direction, we're moving rates up. that normalization is a tightening. it's less accommodation. so it's the direction the fed is going where the inertia is. i think many agree the level is too low but it doesn't matter. it's like trying to cut spending. every dollar is in somebody's pocket who loves it. so to think you're going to have an easy time pulling it out is foolhardy. quickly, when it comes to what the fed will do, here is what you want to pay attention to. is it flattening? no, it's steepening. five versus 30, it's also steepening. not the type of trade associated with an imminent tightening. last but not least the euro

versus the dollar. this chart starting in may is what you need to pay attention to. you want a real barometer, use six at 10 1/2 percent. the real barometer, the dollar will strengthen. if the fed is going to normalize, that's your first line of defense, the best barometer in a very simple way to monitor the fed via the marketplace. kayla, back to you. >> we'll get some tea levels from yellen this week, rick. we'll talk to you then. rick santelli, thanks as always. the best three-day streak for the dow since february. the best for the s&p and the nasdaq since december. all major averages up roughly 1%. the nasdaq up 1 1/3 percent. we're tracking all the movers. ♪

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what a few days it's been for stocks. the dow, you wouldn't have thought it a few days ago, is within 50 points of regaining 18k. for more on what's happening to bob pisani on the floor. >> i want to point out the whole greek thing is very much in everybody's mind. we're at just about the highest of the day but i want to show you the greek etf. while the stock market isn't trading, greek etf does trade here including its constituents components, the national bank of greece. we started in positive territory. quickly moved down over what are

concerns about mr. tsipras' ability to get through the terms of the austerity plan. let's call it that, through the parliament, in the next few days. that's the concern there. that's still out there. there's still not a clear deal that actually has been signed and agreed upon. let's talk about the markets here. 4-1 advancing declining stocks strengthening, tech, materials, consumer staples, and a nice group of certain stocks in different sectors hitting new highs. let's call it entertainment stocks all at new highs, netf x netflix, comcast, time warner, walt disney. all at 52-week highs. a small group of consumer discretionary names hitting a new high. mohawk, for example, lennar and o'reilly. lennar just turned negative but it's been positive all throughout the morning. >> thank you very much. for more on some of the market movers let's get over to bertha

coombs at the nasdaq. >> reporter: hi, carl. what we're seeing here is really a large cap rally today, although we do have the nasdaq composite back less than 2% away from its recent all-time high recovering from that pullback we saw last week and the big reason why apple is higher today on fairly good volume. we've got an upgrade over to a buy, some research saying that apple makes 92% of profits when it comes to the top eight handset sellers considering the fact it's not the biggest maker in terms of market share. that is quite remarkable. we have janet yellen heading to the hill this week to give her update to congress. it was about a year ago this time that she said that biotech valuations were stretched. as you have market participants coming back in and buying are

once again leading. health care among the leading tech tors. take a look at biotech up nearly 50% depending on which index you look at among the all-time highs today including walgreens in the health care space and a lot of retailers today here at the nasdaq at all-time highs, amazon, ebay, starbuck as well. amazon, of course, launching its prime tomorrow. one high flyer today, a new 52-week low, green mountain coffee. really having trouble with that cold brewing system. a lot of analysts have taken down their estimates on green mountain. back to you. >> that's amazing. that's at a new low. dunkin and starbucks at all-time highs. how the world's largest blow-dry chain is taking its business to go with their latest move.

presidential candidate hillary clinton making her first economic speech this morning here in new york city. parts of the speech are taking on parts of the new economies like the sharing economy and the on-demand economy. >> many americans are making extra money renting out a spare

room, designing websites, selling products they design themselves at home or even driving their own car. this on demand or so-called gig economy is creating exciting opportunities and unleashing innovation, but it's also raising hard questions about work place protections and what a good job would look like in the future. >> one company expanding its business model today is dry bar. the co-founders of dry bar are here. it's great to have you. i first just want to ask about these comments about the on-demand economy and the sense that we're hearing perhaps a gig job or on demand job is not a good job. is that fair? >> driver has over 3,000 employees and now with our new

dry on the fly app our stylists can go to people's houses and that's just another avenue of growth for our company and stylists to make more money. >> michael, drybar is a brick and mortar or has been historically and dry on the fly does what? >> we have 43 locations around the country, but what we have a lot of times our very busy women need us to come to them and we've offered this service since day one six years ago. it's a clunky process. you have to use the phone and call, someone calls you back. over a year a team of engineers working on an app that connects our stylists and clients. we have 200,000 clients in new york city and 600 stylists. >> you can literally see on the screen as we're showing where the stylists are around you, right, in proximity to you? >> if you go to the app you can see the stylist is three minutes or nine minutes and you can see her as she's coming to your home, office or hotel. >> alli, there are some things

you give up when you're not in a brick and mortar location. you don't get to see the customer experience. your workers may be at-risk if there's a crazy customer with crazy demands and i imagine they have to drive themselves. how do you do that? >> we're sending the best of the best. we spend a lot of time change our stylists to make sure they're equipped and going into homes prepared, tried to think of everything. that was a real concern when i started drybar when i had a mobile business. there wasn't enough of me to go around back then which is why we started drybar. we've trained them and we think they're ready to go into people's homes. >> and these are full-time employees who work in the stores not freelancers. >> we are so particular on how the blow-outs are done, the customer service aspect of it. they have to deliver that same great customer service in

someone's home. >> somebody might say, well, obviously commercial real estate in new york, this is too tough, right, too expensive to expand and this is a natural way to grow. >> for us it was more we've been fortunate to have eight locations and we're continuing to expand brick and mortar. probably looking at 20 stores next year as well. for new york city particularly with so many clients that are so busy and every minute means something, going to them was really important. >> we'll have a lot of viewers who say i want to re-create michael's hair style, can we re-create that? >> oh, no, not that. >> i was such a skeptic, thankfully my sister talked me into it. >> it never gets old. >> i'm a frequent customer. i'm excited to be able to get an appointment because you are so busy all the time. >> we'll come to you if you need it. >> alli, michael, great to have you. >> thank you very much. appreciate it. really quickly here, recapping the markets, we have barely moved in the last hour or

so. the dow continues to be up 195. list of new highs today impressive, facebook, amazon, cvs, comcast, disney, dollar general, nike, under armour. we'll keep our eye on the session. back to headquarters, scott wapner and "the half." all right, guys. welcome to our "halftime" show. our starting lineup, joe is here along with josh brown and john and pete najarian. our game plan looks like this, going all in. our defending stock champ buying five new names today, but will it be enough to get him back in the game? >> the founder of consumer products talks about his latest buys, the state of the markets and much more. we begin with the makings of a deal in greece. after the all-nighter in europe, stocks seeing their best three-day stretch of the year with all major