awaiting to find out what it is that the regulatory body is going to decide. fascinating how quickly this thing has unravel. thanks for watching "power lunch." "closing bell" starts right now. hi, everybody. welcome to "closing bell." i'm kelly evans at the new york stock exchange. >> and i'm bill griffeth. banks have been a big story today. jpmorgan is leading the financials higher right now after the better than expected earns out this morning. it's now the best performing component of the dow jones industrial average, up more than 4%. we'll tell you the details on that, and what to expect now from bank of america and wells fargo, both of whom report tomorrow. >> also amazon building a fancy new kindal with a price tag nears $300. we'll show you the device and talk about whether this could move the needle for the e-commerce giant.

and major back eye for blood testing start-up theranos. the proposal is to ban the founder from the business at least two years, the "wall street journal" reporter behind the story from the beginning will join us in a bit. and the first president of facebook, and now tech billionaire sean parker is donating a quarter billion to cancer research. he'll join us live to discuss the move and his own any venture, the screening room, that has the movie business up in arms. the earnings from jpmorgan chase, wilfred frost has the story. >> first up, energy related losses, they were significant, but guidance for the rest of the year was encouraging. down shamp is expected with deal activity and underwriting soft. guidance also for m & a was to remain so for a quarter or two

more. however, markets surprised, only done 13%, march seeing an improvement and april okay so far. here is what dimon had to say. >> i just add that $5 billion plus of trading in a quarter like this, look as good or decent returns, we have good margins, we're not quite sure about shares, but i would look at it as quite a good performance. >> on the expense control front, it was sufficient to appease investors, down 2%, mainly from legal expense savings, as opposed to job cuts, which was encouraging, and then finally on the core traditional banking parts, dimon says i don't think you have a recession in 2016. instead he said loan growth was strong, especially commercial real estate, autos a bit stretched, but consumer ultimately in good shape. those are the reasons for aye jpmorgan is doing well. tomorrow we turns to bank of america, reporting at 6:45 a.m.,

and wells fargo at 8:00. wilfred, stay right there. citigroup saying it was approved by regulators. five of the other ones had their plans rejected. kayla tausche has more. >> well, kelly, it's the second time in recent years the fed and fdic have rejected a majority of resolution plans, plans that would wind down nipped of bail them out. all must address their shortcomings which raining from derivatives exposure to corporate governance. they have to address those by october 1st. the other banks have until july 2017. only citigroup received no objection, so of course the bank was very proud of that and issued a statement to that effect. fbr initial an analyst report saying giving the past hiccups,

the fact they passed this should give comfort that the other banks will -- guggenheim suggesting -- doesn't necessarily on -- it determines capital payout, and we'll get those results in june. bank tracy additional have passed ccar evening when living willis have drawn criticism. the regulatory goalpost appears to be moving. government accountable says it needs to know more will how the fed and the fdic approached the living willis, they don't know exactly what the agencies are looking for. nonetheless, though, guys, if the agencies find these banks continue to fall short of their standard, they could force them to sell assets, impose higher capital restraints on the banks, even issue other regulatory sanctions, so the debate over too big to fail and these companies continues. >> kayla, stay there, wilf, stay

there. how do they fail these things? do they not work that closely as the process is unfolding? do they just go away behind closed doors? how do you fail this thing? >> that's the question that everybody asks, because irs a subject tiff test, we don't really see hard numbers. the agencies said they made their staff available, so each bank could have a dialogue with their staff, figure out exactly where they need to change things. in fact on a call thorpe senior agency officials said there was a very robust process, banks took them up on that, there was a lot of back and forth, but simply they're making these tests more complicated, and as the businesses get more complicated, what the regulators seem to be looking for changes as well. >> jamie dimon was being interviewed at the grants investment conference. he had a lot of interesting

remarks especially in light of the earnings and living wills. because he was pressed by investors time and again about all the regulation, about the 34,000 employees working just on compliance at the bank, and one of the things he said was, hey, i've been told by regulators there is no secret plan to break up the bankses, but the fact that question is even being asked tells you the environment we're dealing with. >> on this point, whenever the came you want on the conference calls, the cfo would answer, and he would say, by the way, we have got so much capital, plenty of liquidity, there's no real fears, and certainly the shares prices reabsented to the earnings beat, not this particular point, but last week he said in his letter we're on page with the regulators, we're going to do well in these tests, and clearly this one came as a bit of a surprise. it's not quite the same as the c-car in june, it's something they have to work with, and it

changes from year to year, but he's tried to defend on the earnings side house his universal banks model is working. >> just another quick point of interest as well, with regard to one of the biggest concerns, bill, it goes back to oil, of course, he said regarding the outstanding loans and commitments they have made, we think most will be money good, even at these oil prices. you know, that's a big statement to make at a time when the journal, everybody else is calling into question, look, obviously it hurts capital a bit, and you have to account for the fact that these exist, but he said, i don't care if we lose business now, i have a franchise longer term that's going to stand by these guys. >> if you look at this, the numbers for provisions commodities sectors, it was alternates higher. they beat within that wider segment was on the guidance for the rest of the year. they couldn't hold themselves, as we look ahead to tomorrow, do

bear in mind with these other banks, that the actual number was a little higher for jpmorgan. these are the banks, all could surprise negatively. there was a bit of a focus on wells fargo, people aren't -- and they could perhaps surprise on the down side. >> yeah, jpmorgan has now become pretty adept at underpromising and overdelivering. we heard that criticism, but i would say the last chance they had to come out was mid february when we're in the depths of the market volatility, so of course the guidance they gave there was lower, you're right, it comes out and they have beaten expectations. >> thank you, wilf. let's get to our closing bell exchange. steven grasso from stuart frankel is on the floor with us, and rick santelli checking in from chicago. steve, the word i keep hearing

from traders is breakout. do you see that happening in the stock market? >> we've gone sideways for such an extended period of time. it's been pretty volatile, bill, but the more you stay sideways, the more of a coiled spring this is, but you have financials now. they haven't performed, or they've been underperforming. you've had energy. i think it's not been universally hated financials, universally avoided, so i don't think you're going to see money really roll up into financials. i do think you're going to see the market backtrack just a bit. nonetheless, still range bound, but both the dow and s&p taking a run at those highs. >> what about you, mark? how do things look to you? >> yeah, i think there's definitely more participation. obviously this has been a

volume -- a market with very little volume on the up side as we have garnered, you know, 20% almost off the bottom. i think you see more winners as earnings come the next few weeks and earnings season gets kicking off. very low expectations, so we see the up side like we do with jpmorgan. i think the path of least resistance is higher. >> rick, what did you see today? we had disappointing retail sales this morning and the beige book came out this afternoon and said, look, essentially you've got slow but steady growth in this economy right now. >> you know, i think that i have to give brian sullivan the prize of the day. hi comments on the beige book release was it might be kind of a c-plus beige book, but you know the fed still refuses to tighting c-plus with a was i 2% economy compared to the rest of the world, to me you could have it both ways, but yet i'm wrong. the fed gets it both way.

granted, the same people don't write the statement that write the beige book, but it seems the statement, coming up for reasons to find excuses, or the beige book seems to always find the highlights. it's that quandary were now seeing with and dealing with every day in terms of what's going on with the fdic and fed. jamie dimon mike careful. who would disagree, 34,000 in compliance, you know? subjective when it comes to the government and regulators? oh, my god, you could drive a truck through it. i don't envy their situation at all. interest rates moving lower on a good auction, but not necessarily because stocks are strong. >> and we're up 184 on the dow. what leave railroad watching here? i keep hearing 275 was the line drawn in the sand and we're above that. >> it 116 is the real resistance on the way up, but let's look at the flat-on quarter, fla on year

2043, those should be your short-term basically pivots or exit strategies if you're still long in this market. >> very good. thank you, guys. nice to see you. have a good day. we still have about 50 minutes to go. watching the dow, we talked about the financials and the contribution there. the s&p is until 19 today, 2080 and change, the analysis gab up 69. also coming up. if sean parker speaks with you with a first on cnbc if interview, the $50 million donation for cancer research. also ahead, amazon releasing new details with the kind of oasis. josh lipton has the low down from the left coast next. i am benedict arnold, the infamous traitor. and i know a thing or two about trading. so i trade with e*trade, where true traders trade on a trademarked trade platform that has all the...

get off the computer traitor! i won't. (cannon sound) mobility is very important to me. that's why i use e*trade mobile. it's on all my mobile devices, so it suits my mobile lifestyle. and it keeps my investments fully mobile... even when i'm on the move... ahhh.

ha minutes left in the trading session. a rally day, jpmorgan chase's earnings helped this morning, an early rally in oil that's diminished in the meantime, also

helped. go pro is spiking, and danny coster will koster has worked at apple since the early 90s, you want 19% now. >> must feel good if you're him right now. amazon introduced the ki k kindle oations most uniquely the device has a leather charging cover that the company says can deliver months of batly life. the e-reading it comes with instant access to the story, millions of books, newspapers and magazine. available for preorder today, the cost $290. we know amazon does not break out kindle sales, but mark ma

hainy estimates it contributes less than 10% of total revenues, so analysts say it hayes strategic important here for the online retailer. >> amazon basically is very keen on selling you stuff, be it digital stuff or physical stuff. they optimize the user experience so that your shopping experience is best used or best experienced on these devices. >> reporter: in other words, amazon dedicated devices can help encourage consumers to buy more content. we'll find out just how much they're really purchasing when amazon next reports results, likely later this month. guys, back to you. >> josh, thanks very much. h43 minutes left in the trading session. >> are you a kindle guy? >> of the app on my tablet, so

yes, in that regard d. but i don't have an actual physical i kikindle. i was just wondering. >> just so that it's easier to read. sean parker is speaking with us with a first on cnbc interview about what is new, $too million donation can do for the fight against cancer. >> "wall street journal" reporting that regulators may ban theranos founder elizabeth holmes for two years for failing to fix the blood testing company's problems. we'll talk to the reporter from the journal who broke the story, when we come back. a deluge of digital records. x-rays, mris. all on account...of penelope. but with the help of at&t, and a network that scales up and down on-demand, this hospital can be ready. giving them the agility to be flexible & reliable. because no one knows & like at&t.

you ppremium like clockwork. month after month. year after year. then one night, you hydroplane into a ditch. yeah... surprise... your insurance company tells you to pay up again. why pay for insurance if you have to pay even more for using it? if you have liberty mutual deductible fund™, you could pay no deductible at all. sign up to immediately lower your deductible by $100. and keep lowering it $100 annually, until it's gone. then continue earn that $100 every year. there's no limit to how much you can earn and this savings applies to every vehicle on your policy. call to learn more. switch to liberty mutual and you could save up to $509. call liberty mutual for a free quote today at

see car insurance in a whole new light. liberty mutual insurance. we believe in the power of active management.management, by debating our research to find the best investments. by looking at global and local insights to benefit from different points of view. and by consistently breaking apart risk to focus on long-term value. we actively manage with expertise and conviction. so you can invest with more certainty. mfs. that's the power of active management.

in case are haven't heard, "wall street journal" is now reporting that federal health regulators have proposed banning theranos founder elizabeth holmes from the blood testing business for at least two years. this is part of an ongoing process that the company is going through with regulators. as you will recall, the journal broke a number of stories about this that have been critical of the company's technology and its ability to deliver on its promises to patients. theranos' elizabeth holmes talk to jim cramer about that in october. >> this is what happens when you work to change things. first they think you're crazy, then they fight you, and then all of a sudden you change the world. i have to say sill personally was shocked to see that the journal would publish something like this when we had sent them

over is,000 pages of documentation demonstrating that the statements in their piece were false. >> holmes, they're referring refer to a series of articles to explain. joining us on the foej is "wall street journal" investigative reporter john ke carrieyou. >> you had some important context around what this means for elizabeth holmes and theran theranos. where do things stand at this point? >> reporter: the letter was send march 18th. normally shortly after the letter is sent to a laboratory owner, it's made available to the public, but in this case, it hadn't come out yet, because theranos has asked the argument, the centers for medicare and

medicaid agencies for redactions. that process and the agency considering them is still ongoing, but we have reviewed a full copy of this notice of sanctions and it proposes six big sanctions, and the big ones are revocation of the. >> caller: >> caller: laboratories clia license, which is the federal license to test human samples, and a ban from the medicare program. so those are arguably the two most severe -- most draconian sanctioning that cms has in its arsenal. >> the story has been about a blood testing system that uses a star small 5789 of bloods that's traditionally taken and does a test that produces results much quicker. and the question has been are these results accurate. john, with this letter coming from regulators, are they saying they don't believe after they have examined the company and

its testing system, are they saying that the system is not accurate? >> they're saying that they send inspectors to the company's first and main lab in california last fall, and the inspectors found a huge number of deficiencies, very serious ones that put patients in immediate jeopardy. these deficiencies have to do both with the theranos proprietary blood testing devices that it as code named edison after the famous inventor thomas edison, but also has to do with theranos' use of traditional lab machines purchased from the likes of siemens, and it's lab practices in general, not having a qualified quality ashurps and control manager, things like the laboratory director just generally not being on top of things at all. so these sanctions that are being proposed are not just in

response to failings or perceived failings with the proprietary technology, but also largely because cms deems that theranos can't run a laboratory safely. >> john, just briefly, regardless of what happens with elizabeth holmes herself, is the biggest threat to the company's continued existence the potential shutdown of its california lab? >> well, if the license of the california lab is revoked and bear in mind theranos can still appeal if these sanctions are imposed. they have not been imposed yesterday. if they're imposed in coming days or weeks, theranos can appeal to an administrative law judge, and then to a departmental appeals board. that being said cms rarely loses these appeals. if the sapgss are imposed on the lab, the lab loses its license, then that means elizabeth holmes, who the letter is

addressed to and her number two, sunny balwani, will be barred from owning any laboratory for two yours, that would force theranos to shut down the second lab in arizona, and severalally put them out of the business for two years. >> they are in the process of preparing a response. what's the timeline, or is this open-ended? >> my understanding is they have already responded to this march 18th letter and cms is considering the response. the response is intended to try to convince the agency not to impose these sanctions. as is often the case in these occasions, if cms does impose sanctions, then the company has a window of time of about 60 days i think to appeal to the administrative law judge and then to the departmental appeals board. and then even if it loses in

that process, which could drag on for several months, i believe it can still go to federal court and sue the agency. so this is going to be po templeally a protracted process and a long one. >> especially given the legal cowens they have retained, several big names on that board, in the legal community, the medical community. john, we'll see where this goes from here. john, thank you for joys us. >> thank you for having she. >> john carrierou. . time now for a cnbc news update. sue? >> here's what's happening at this hour, syria's parliamentary elections are taking place today with more than 3,000 candidates vying for just 250 seats. syrian president assad and his wife voting in damascus, he said the vote is to defy terrorists.

the results are expected tomorrow. clogging traffic as they stream towards the court where she is appearing in a case about irregularities at the central bank. christina fernandez stepped down after an eight-year run. a los angeles judge clearing the way for katy perry to buy a former convent after invalidating the property's sail to a business woman. the case was against nuns who lived on the property and wanted to sell it to a restaurant tour. there's inky the octopus. he squeezed out from a gap at the top of his tank, slithered across the floor, down a seawater runoff, to hawks bay and to freedom. the aquarium says they will not conduct a search for inky. swim free, inky, swim free. >> i love this story, except, sue and bill, i was at two

aquariums where i'm in a tunnel and the hashsharks are swimming >> octopus, because they have no bones, they can go through anything. and it was -- he escaped a month ago. they just discovered it. [ laughter ] >> meanwhile, the other octopus name blotchy, apparently is not all that interested in his freedom, because he just sat there while inky went free. >> three squares a day. >> that's right. >> in the aquarium. >> go, inky go. >> nothing like a good squid. >> i'm assuming sharks have more substance. they couldn't wriggle through. >> thank you, sue. >> where are we now? 30 minutes left in the trading session here. a leading trader will tell us what he's watching as we head to the close of trade today. >> do you know how big halibut are? that's another story. >> you learned a lot, didn't

you? and sean parker will tell us whether he thinking winter is coming for venture capital funding. stay tuned for that conversation, coming up.

♪

the new craftsman pro series riding mowers. now available with power steering. so you can turn with ease. available with the tightest turning radius in the industry. and powerful v twin engines with up to 26 horsepower. because the beer you drink after you mow your lawn tastes better than the beer you drink after someone else mows your lawn. craftsman. when it matters.

welcome back. the market is gradually moving even higher, the dow up 193 points. i think that's the high for the session. the s&p is up 20 points now at 2082, which is right at the upper range of the resistance band that traders are watching today, the nasdaq is up 78 appointments. fitbit also getting a boost today with citigroup and pacific crest raising their outlooks on the fitness tracking device maker. they see stronger than expected initial demands for the new products called the blaze and the ultimata. >> okay. they are at session highs. i'm on the floor with alan valdez of silver bear capital. yesterday oil prices surged, that kind of helped propel the market. what's going on today? >> jpmorgan and goldman, and they're all up. citi bank, wells fargo, but we're also seeing a big short

squeeze. that's what's really going on. all that the usual stuff, but i think the short squeeze is propelling most of the underlying stocks here. >> what are you looking for then? >> i think we'll go another month of small gradually getting bigger and bigger, maybe 2100 in the s&p, the dow maybe 1850, up in that range, but i think it's going to stall. i think we're going to come to the summer doldrums. the volume hasn't picked up much, but come the end of may here, you're going to see it kind of stall. >> what about oil? >> i think oil will stay okay. i think you have the summer drive season. there's a glut, though, worldwide, so we're have to watch it, about you i think for the most part it's going to stay in this kind of range. >> oil up, stocks up too, but it seems like all the formulas are changing around, alan, watching

it daily. >> absolutely. thank you. heading to the close, the dow holding on to the gains right at the high of the session. markets are green with the biggest moves at the nasdaq. we'll head uptown to the exchange at that live report, and striking verizon workers are getting a -- what bernie sanders told them and the latest on the strike itself, just ahead. plus sean parker on his $250 million donation to cancer research, a disruptive technology of sorts, coming up.

welcome back. taking a look at markets here, as we head into the close, a pretty nice session. financials, of course, are pacing things here. the s&p up about is%. everybody is, even the nasdaq is the outperformer of 1.6% on the session after lagging in the last couple today. >> mike san tolli joins us now, don't you, mike? >> i do. >> what do you have for us. >> a look at the rally in the context of a fear that overlays.

credit suisse got some attention saying what they called their fear barometer reached a multiyear high. a pretty obscure options indicator, but what it told me is not so much people are panicked, but they're unwilling to bet this carries on to new highs. i think we're getting that fuel of skepticism. there's a few other ways to detail this. it actually hats remained stubbornly high, just mentioned that this is looking like something of a short squeeze. it has not decline as much as you would expect you also see other indicators like high cash levels reported by fund managers surveyed by bank of america, merrill lynch, now, why? maybe there's good reasons for all this anxiety, or at least a bit of defensiveness. valuations are not cheap, people seize that, they don't think of valuations as being compelling, and we had these macro shocks,

and a compound correction at least from august into february of this year. it seems that people are just not willing to believe we can break through the top of this range. >> when i look at the calendar, i see that may is not far away. >> you'll hear that talk. nobody was talking about the contributions driving us upward, but that used to be the talk. people say sell in may. it seems like it sort of worked in the past couple years, but we haven't gotten anywhere in the market on a net basis for a year and a half. i looked at recently how many times we crossed 2100 last year, something like 55 times, so clearly there's a lot of friction on the way up through hess levels. i think people have that in mind. >> also there's different places where people have been trying to hide out. a lot of the areas that once safe, no longer seem to be so, such as health care, and some -- >> with financials it seems like you had a bit of buyers

capitulation today. you don't necessarily wanting to $210 million market cap go up 5% on a less bad than expected number, but you know, that's the market we have, where people are leans hard in one direction. >> they sure are. thanks, mike. continue to keep an eye on things. again, as we mentioned pretty strong now two-day rally. >> the oil markets, too, they're rival with anticipation for the meeting in doha qatar to discuss a possible deal to boost prices by freezing protection, but amy roo of rbc capital markets warns don't hold your breath. she'll explain why. plus sean parker donating $250 billion -- million to fight cancer.

i'm in vests and as a vested investor in vests, i invest with e*trade, where investors can investigate and invest in vests... or not in vests. this is my retirement. retiring retired tires. and i never get tired of it. are you entirely prepared to retire? plan your never tiring retiring retired tires retirement with e*trade.

welcome back. facebook took a hit earlier, because the self-described -- said that the ad spend on the giant is down. >> let's get all the details from our julia boorstin.

hi, julia. >> hi, kelly. it was a bit of a roller coaster. this morning they are up right out of the gate on news coming out from here, facebook's developer conference how they'll help both companies and consumers and allow them to connect, but shares turned negative, and dropped more than 2% earlier today on comments made by a call hosted by csla. with ad parlor. but the stock has now rebounded on a bloomberg report that ad parlor said the trend data reported earlier today was unauthorized and inaccurate. analysts are generally bullish about the advertising potential for facebook ace big push, as well as the adding it will promote, but these new initiatives are too new, and if

very curies to see how some long-standing investments are already paying off. that's what's going object in focus when we hear from facebook about their first quarter earnings coming up on april 27th. a bit of a false alarm ear. guys, back over to you. >> julie, just going back to that point, what is it were they just sort of taking a slight sample of this or looking at it from a slightly different way here? >> it sounds like the comments were taken out of the context. we have reached out to ad parlor and have not heard back from them specifically, but ad parlor figures out how to do social and video ads. if they said their ad sales were down for the quarter, that could indicate that facebook's overall ads were down, but we shouldn't make much of those comments that

shook the stock earlier today. certainly an interesting topic to watch, but we'll hear directly from facebook in just a few weeks. >> julia, thank you for now. our julia boorstin on facebook. bertha coombs has more on other stocks on the move. hi, bertha. >> 50 points away from the 5,000 mark, the nasdaq has not hit above that all year, so we are close to the highs of the year. one big reason why today, apple is strong, on a fresh four-month high. goldman sachs really sort of poupding the table again saying they seed momentum coming back to the stock. certainly true so far, but it's really been the small caps that are doing very well. some of that having to do with some individual names, a lot of semiconductor certainlying on reports tsinghua has revealed a

6% stake in the company, stoking speculation on a take majority bid, and then there's metavation that reportedly has rebuffed sanofi. and bank shares as well, jpmorgan's reds, but take a look at some of those on -- as we're seeing some of the e & p exploration and production names, tuft texas bank names are moving higher on a bit of easing concerning, whether we'll see some of those it loans go into default. back to you. >> bertha, thank very much. pertinent to our theranos discussion earlier, there are no reports of a -- and 2014 fund-raising round have been been marked down. i apologize for any

misinformation there. art cashin just signaled to me 400 million to buy, that's the market on close in balance going into this close with a dow up 185 points and the s&p at 2081. i am told that 2085 is the level that traders are watching on the up side. joining us is amy women u. mike santolli is still hanging around. he was talking about the tremendous short interest, tr e traders today both of whom are highly skeptical, and the sentiment could not by any worse. >> i hate to be a downer, but the markets we look at will tell you exactly the same thing. the bets being placed that the market will go down 10% in the next three months costs about 25 times more than the bets that the market will go up 10%. that just gives you a sense of how skewed things are right notice for the market actually

being up and what people believe will happen in the short-term future. >> do we think about it as a good thing given all the events of this year? or the fact that it's kind of getting this late in the year and the market seems to be going nowhere? >> we've been having conversations, and people are like, this keeps happening, you keep seeing the statistic in short interest or in the options market, yes we do continue to rally. does that mean when things go downi going to be bad or are people just wrong? i think people believe the inflection point is happening soon, and we'll start to see with earnings coming occupy and the doha capital that people have been speaking about. the correlation has been pretty much been broken. it rears up periodically, it did the other day, but we're still rallying when oil has fallen today. is there a correlation still or not? what are we expecting out of doha? >> you have seen that breakdown.

at the beginning of this week there was almost nothing being priced in for the doha meeting. it seemed about a days ago people woke up and said this is a meaningful event. it's very interesting. you have seen that complacency up until the last minute, so you are starting to see that pickup now, but i will tell you from most concerned to least concerned, people are not concerned about the s&p, and there's still the most concern about energy and emerging markets. >> iffed to pick, would you watch kobe or steph curry tonight? amy, very critical questions. no, mike seriously, how many times have you looked at the value of the s&p 500 and said it's gone nowhere i realize there's two ways to look at that. you can sort of say the boxer that has an iron jaw and just won't go down and therefore has a better chance at winning the fight or is just punch drunk and doesn't actually know he's lost.

i look at it as something that says if we do pull back we have a very hedged market. we have people already feeling comfortable that they're not over their skis, and therefore maybe it's not that nasty of a pullback. >> it's never been cheaper to hedge. >> to your point, the way things set up, if you're bullish, if you believe there's more up side, its incredibly inexpensive right now to get ha leverage. if you think earnings will go well or the do ma meeting will be a positive event, it's never been a better time to leverage to the up side. >> which often can lead to this kind of upside sxlox, this meltup if things go badly for the bears. right? >> true. i will say just today, you did start to see people chasing through the options market. if you look at the call versus put ratio, maybe people feld

unity -- but that's a one-day event. it's not something that has -- >> and amy, we had the traders also citing a litany of stats how many people have been chased out over the year, especially the larger public, and the fact that 'em today there's a lot of short interests. do you see the same kind of skepticism, i guess, we would say about stocks here? >> no, that's a great point. to your point, voluming have changed dramatically. part of that is regulatory in nature, just given the restrictions that a bank faces or dealer faces, and it really has become something that since 2008, you have to take into account when you start talking about these metrics. i will say there has been since the beginning of the year, a level of complacency, and that's shown up in voluming and decisions people are making that amount ahead of time they typically do towards a catalyst. >> one thing, kelly, you're absolutely right that the public

has not been aggressively in this market, but also wasn't there in all of last year when we went off the cliff and in december of this past year, wasn't that far in, and we went down 15% in no time. to me it's a professional's market. >> very much, that's for sure. amy, always good to see you. mike, hang around some more. we'll take a break. it's time for the closing countdown in a moment. after the beg, facebook's attempt to dominate the digital world taking a step back. inns that great deal has fallen over favor with teens. the fickle audience's new app of choice. and sean parker, he'll be here to discuss his huge donation to the world of cancer research. that's coming up.

i am benedict arnold, the infamous traitor. and i know a thing or two about trading. so i trade with e*trade, where true traders trade on a trademarked trade platform that has all the... get off the computer traitor!

i won't. (cannon sound) mobility is very important to me. that's why i use e*trade mobile. it's on all my mobile devices, so it suits my mobile lifestyle. and it keeps my investments fully mobile... even when i'm on the move... ahhh. three minutes left in the trading session here, holding on to these gains, up 192 on the dow. let me show you the s&p. we keep mentioning these levels that the traders are keeping an eye on. 2085 is the number that a lot of traders are watching at the moment to see if they can close above that number. a lot of traders are skeptical

about this rally. we'll see, so right now we're at 2083. jpmorgan was the standout today after the earnings this morning it was the best performer of the dow components up 4.5%. oil had an up-and-down day. it hit a new high for 2016 very briefly, and then fell back, down 1.5% to 4151. tomorrow morning, here we go again, bob pisani, and wells fargo will be reporting, both of them up smartly today. the sentiment so negative on the banks, we called them zombies, essential no interest in owning them, low interest rates and all sorts of concerns. now we get slightly better news. jpmorgan just a bit better sinus, and jamie dimon talking about the u.s. economy chugging

along. that's good enough, believe it or not. what about all these potential losses for loans to the energy companies? i expect some of the regional banks will increase their loan loss reserves, but it dramatically decreases the chance they'll have to take losses, so they might increase their reserves, but oil going up, good news for the banks, because it's unlikely they'll get big, big losses. we have oil moving at the same time. berm it's one day for jamie dimon ton upbeat, general electric, if they say something, that's big global industrial, it will be a week from tomorrow, that will be very important. that will change the market over here. unfortunately it's a week from now. i can hardly wait. that's the company i really want to hear from. >> bob, thanks very much. going out near the highs, dow up 15 points.

stay tuned. sean parker talking about the $250 million infusion into the cancer research program around the country. we'll talk about that as well. riverwood capital is ringing the bell at the big board and layne is at the nasdaq. tuned for hour number two of "closing bell." see you tomorrow, kell. thank you, bill. welcome to "closing bell." i'm kelly evans, a rally day across wall street. here's how we're finishing the session with the dow up 185 points, and closing above 17,900, the s&p adding 20 parts for its part, the nasdaq up 74 today. we are also about to speak to billionaire tech investor sean parker about his $250 million cancer research donation. joining me here on the panel,

mike santolli along with carol roth welcome. and guy adami tiptoeing into the fray as well. great to see everybody. mike, i guess we're still digesting the fact that earnings are having an upside impact. >> and it's just the front edge of the earnings season. we'll only get about 18 s&p 500 companies this week, so i think the banks were a crucial leverage point in how to view this session. on the other hand we often see with the banks one of them actually has a better than expected number, the next one not as good an experience, so i don't know that you can extrapolate, but i can say you had a mark seesawing in a very narrow range. people were skeptical enough of whether this was in fact perhaps a near-term top of the range where you said peep 1% on almost exactly. it's really just a real indication trade.

>> a sigh of relief, carol? >> i've been a bit of a bear cub that's now been translated into a bunny, that hops around and doesn't really go anywhere. while there was a temporary catalyst for upward movement, and we'll see more to the upside, and it looks lie the s&p is just topping out at the 2082-ish range, i don't know that we're going to have enough to sustain that long term. i think if you're sitting on the sidelines and maybe didn't get in on this, there will be more opportunities for a pullback and for you to re-deploy capital. as we go through the year i think we'll see a lot of this back and forth. >> guy, look at citigroup and what a sea change from a couple years ago when it couldn't pass a stress test and it comes out

certainly not with approval, but not with the same -- >> i thought were some of the china numbers last night, talking about he'll be on in a little while and "fast money" talking about it, but that assuages some of the fear that is have been out there. jpmorgan in that bers i thought were good in the context for people to say valuations have dropped so much that this quarter gives you some air covers at least to get back into these names i thought their cost controls were really good. a lot better, and that interest margin numbers were good as well. so in this environment, what you've talked about it all day is those numbers were good enough to see the numbers move today. and jamie dimon had some positive comments earlier today,

interestingly ann stevenson yang laid out a case for why a couple are short. the parker foundation, the founding president of facebook and naps terr, announced a $250 million grant to launch the parker institute for cancer immunotherapy, the largest single contribution ever made to the field. he joins us backstake at the studios in los angeles to talk about it in a first on cnbc interview. thank you for your time. i want to hear how you wrangled all these scientists. how did you make this happen? >> first of all, thank you for having me. the scientists actually they're the easiest part of the equation. they want to figure out how to work together. they want to share data, and so this is a grand experiment, and how do we remove the obstacles, the barriers, things like

intellect why will property, how do you manage it, how do you deal with patient samples when you're running clinical -- how do you do with the data analysis, so providing that infrastructure to bring everybody together, this is how we think we'll move science forward. >> i wonder as well, is there something you're wringing here in your experience of the digital world, our do you have another personal reason why you wanted to get involved in immunotherapies? >> we've all been affected by cancer with someone in our lives, our friends, family, or individually, and that's true of me as foss just about everybody. it's amazing that over the last 40 years, even though he made some pretty good progress in treating about half of all cancers, using conventional therapies like chemotherapies radiation and surgery, we

haven't been as successful in bringing new therapies to market to actually treat patients more recently immunotherapy is the outliar. it's an incredible new technology platform that's managing to treat otherwise untreatable cancers. it's an incredibly exciting time, specifically to be bringing scientists together around this technology. >> and there's plenty of excitement in wall street and the venture capital community as you know, for a lot of these new endeavo endeavors. it's an incredibly exciting time. what do you think, then -- this to me from what it sounds like, is a pure donation on your part. is that right? are you looking at this as some kind of investment that will become a business or reap some further financial reward? >> no, purely a philanthropic endeavor, but it does borrow from some of the things we do in the venture capital world.

it has a entrepreneurial component to it, the institution unifies the six leading centers, and we centrally administer the intellectual property that comes out of that partnership. that actually allows scientist toss collaborate better than ever before, and it makes it easier for us to get the discoveries, new breakthroughs actually translated, turned into drugs so the drugs can be brought to patients faster. >> how are you, by the way, spending your time these days, sean? there's so many different things, so many different projects you've worked on in the past, does this occupy all of your attention? >> this was a three-year process, so everybody in science talks a lot about collaboration, about data sharing, but putling it into practice turns out to be very difficult. not that dissimilar from the

process i went through in the u.s. trying to negotiate licenses for spotify. el the timing made sense, we thought it would take roughly six weeks, but it turned out two years later we launched. so i've been working on this pretty much full time three years, and then as word spread that this initiative was moving forward, it grew to six. >> as you know, a six-week effort from spotify, that took longer than you expected. since you brought it up, what do you think of that whole space these days? we almost take it for granted we can turn on whatever streaming property we want, but apple music has gotten into it. everyone is trying to figure out how to make money and what the future is going to be. what do you think about spotify these days? and how are you personally looking at it? >> well, i'm still on the board of spotify.

i'm a huge believer. spot i if is the market leader in the space, obviously. it makes sense to have an integrated music offering. it makes a lot of sense to have your music library in the same place as your music discovery experience, whether it happens via a radio like experience or algorithms and recommendations engines, so having a unified experience where you keep your music and discover new music with a lean-forward and lean-back experience, i think that's the winning model. spotify is the only company that pulls the pieces together. >> do you want to take it public, sean? >> well, that's a conversation for -- for the management of the company. >> just interesting what that end product might look like, especially as we heard travis clannic told this many network recently that he has no

interested in going public. while we have you, maybe you can explain to me this chatbot thing it seems everywhere. what is that all about, really? >> you know, this is -- computer scientists, we have -- we have a kind of obsession, i think, with artificial intelligence, with hard a.i., and ultimately with new interfaces, so, you know, those of us who have worked in the field for a long time remember a lot of the early experience with sort of interactive a.i.s. i think it's an idea that's been around since the beginning of computer science and an idea that will continue to come up over and over. who knows, maybe it's ready for a general audience.

>> i know you've spent recent times very deeply on some of these challenges you're announcing today, but what might be your next project? your next endeavor? i'm sure there's plenty else. >> so, you know, like many people in silicon valley who have spent their time building social media properties, you know, for -- for teenagers and you willy properties whose sole goal is to consume as many productive hours as people's time as possible, you know, there's something incredibly refreshing and rewarding about this shift towards life sciences. i'm not the only one. mark zuckerberg is very interested in life sciences, obviously the google folks are wi -- so i think there's a big movement in silicon valley towards life sciences, and the idea that, you know, the relationship between engineering

computer science and biology has in and out reached a point of interrogation where there's a role for us to play. most of my time these days has actually been shifted towards biotech ventures and my philanthropic efforts in things like cancer immunology. >> i wonder, though, and i would be curious what you think about this latest news about theranos, do you think that's going to threaten the fund-raising environment or risk appetite for they have these new ventures? >> i think if anything, you know, the public beating that biotech stocks have taken, you know, is a bigger deterrence. it seems look this is a buyers' market for technology and teams contrast that to the software and internet world where it's hard to get a great team of really smart people together, because the talent is so diffused. biotech people are in it for all the right reasons.

it reminds me of the software world when we got started out and the internet was a dream and not something that everybody used every day. we were passionate about it for the right reasons. i think that's happening in life sciences, and i think this feel very similar to the way the internet felt in the mid 1990s. i'm not worried about any individual company, you know, tainting this incredibly exciting moment. >> i know i asked about some of your next endeavors. some of the theater execs and people in hollywood are concerned. they have spoken out about this screening room project that would kind of bypass them and allow people to watch moise in their home. is there opportunity there? is that what the customer wants? is that something you would continue to work on? >> well, this is a conversation that's largely taking place between exhibitors and studios that i myself have nobody been a

part of, largely because i've been single mindedly focused on launching the institute over the last three years, so that has been my focus. that will continue to be my focus, and that conveation and noise will happen on illustrate own. >> i'm sure. i don't mean to add to it, but there are plenty of people wonders if you're going to na napster-ize the movie business. >> when folks bring of napster that was 15 years ago, and sometimes it's hard for me to remember, seems almost strange to refer back to that period in my career, because it's such a distant memory. since then, of course, i was very involved with spotify, and went through an entire licensing process, kind of a full-circle process from the napster experience to then going ahead and launching spotify, which is

the largest subscription streaming service in the u.s. so my experience working with content owners recently has been a very productive one, and i think we have expanded the size of the music industry enormously and el replaced for the most part the decline in cd sales. >> absolutely. that's why it's an interesting analogy, but most people are lucky if they change the world once in their lifetimes, and i feel like you're trying to do it all over again. sean parkers, launching a $250 million undertaking. thank you so much for joining us here. we look forward to seeing the fruits borne of this effort. >> thanks for having me. comments, guys? >> i mean, i think that this is a very interesting individual. i think it just goes to show if you have that entrepreneurial on spirit, you're never on one an

done. you're always looking for the next problem to solve. we put so much money into cancer research, and to approach it in a different way that's more disruptive, i injures wish we could take people like him and put them into the government. if we could do that, i think that would be an amazing thing. >> obviously it seems like you're attacking the right part of the problem. i don't know that -- this amount of money seems like a lot when it comes to the size of this effort, but at least it's a new approach. you talk about people as cancer, as we'll slide it over into being a managementable condition, not a grand solution, so why not? >> i am curious about the selectual property, how they are going to navigate that among all the different groups. i would love to get my hands on one of those contracts to see what kind of details and who gets what if it goes in the

other direction that's a good point. jack lew sitting down with our sara eisen. >> hi, good to see you. imf world bank spring meetings are in d.c., so i sat down with jack lew just moments ago to talk about u.s. leadership in the global economy, but we also had to talk about the recent clampdown on inversions killing that more than $150 billion deal between pfizer and allergan. >> i said several years ago the right way and best way to do it is for legislation to be paced, comprehensive business tax reform and shut down inversions once and for all. i also said we'll use whatever

administrative authority we'll have, and it's a complicated matter. you don't have infinite flexibility each teem wife showed down the pipeline and contingencies needs to act to make sure that inversions are stopped. >> we talked a lot most about this inversion issue. we also talked about what to do with puerto rico's debts. the global economy, and this idea of the imf of taking on a greater role. you can catch all of that in our exclusive interview tomorrow, "squawk on the street", 9:00 a.m. eastern time. i think they're very farther apart. peabody energy, the latest coal company to file for bankruptcy,

we're talking about a company more than is 00 years old. up next the fallout the coal crash is having on mining towns, and the economy. and bernie sanders rallies striking verizon workers, we will look at what's behind this dispute. you're watching cnbc, first in business worldwide. snee accessible by thousands of suppliers and employees globally. but with cyber threats on the rise, mary's data could be under attack. with the help of the at&t network, a network that senses and mitigates cyber threats, their critical data is safer than ever. giving them the agility to be open & secure. because no one knows & like at&t.

. today's america's largest coal company declared bankruptcy, sending more shockwaves through an industry in the last two weeks have seen massive layoffs, and the subject of hot rhetoric on the campaign trail. a john harwood has more. >> it underscores the struggles of the coal country, which are partly changes in the energy industry, and partly from environmental politics. trump has done better in those states overall, but there are a couple rustbelt states, in particular pennsylvania and

ohio, who if trump is the nominee hopes to pick off from hillary clinton. the republicans were encouraged by this recent remark from hillary clinton. >> i'm the only candidate which has a policy about how to bring economic opportunity used clean renewable energy as the key into the coal country. here's the plan she has in reaction. and those coal states overhauling the black lung program, and also protecting health , this is surely going to be in a couple states in particular, pennsylvania, ohio, virginia a hot issue. other states are already going to the republicans, guys. >> it's a reminder how much 40%

of the grid it's roughly split between coal, nat gas, and then the rest. >> it's interesting we're seeing this industry and so many where they're undergoing evolutions. how do you retrain these people so if coal is no longer viable that they're able to work, whether it's natural gas or to go into some other area. you hear something like hillary clinton say we're going to put miners out of work, out of the business. that's not a net positive for fib? i'm not hear enough about what's being done, but proposed. >> to me that's absolutely true, though the coal business and coal employment has a much larger place i think in the public imagination. now it's down from 80 or 90,000, so it's obviously been hard hit,

but it's like manufacturing, and we're still anchored in this time from the 50s to the 7 it was the engine -- >> if it's hitting home and in your backyard and your community. >> and it's driving the political campaigns right now. >> that's what the 30 billion that hillary clinton is talking about to radio dress that, all goes to what happens to these workers. >> i was rafting in west virginia. there's so much of that area that's transitioning, literally trying to transition from coal to tourism business. much, much more needs to be done, though, obviously. john, thank you for joining us. it's interesting. we were talking about bernie sanders, so a lot of hits. watch out, facebook, an analyst behersh the new survey

that facebook is no longer the most popular among teens. plus workers are taking to the pickett lanes after failing -- what that means for your service and the dow component stock, when we come back.

she breaks news on the nymex. >> the counter. me group announcing it will close the new york trading floor at the end of the year. the trading group citing low

volumes cme group's new york trading floor represents judd 0.43% of the company's overall energy and metals trading volume. shares basically flat after hours, kelly, back to you. i guess we'll do our oil reports in front of a computer screen. time now for a contract nbc news update. sue? >> here's what's happening at this hoyer, spanish police releasing the photo of a frenchman for arrested for allegedly supplying the weapons for an attack. he was arrested on tuesday mere malaga on spain's southern coast. clashes broke out in the iraqi parliament between kurdish members and their fellow lawmakers who staged a protest after a vote was postponed. both sides throwing bottles at each other. bill cosby's lawyers urging

an appeal court to reseal his decades-old testimony, but a panel of judges seemed to think that was pointless since the deposition has already made headlines. the judges game no indication when they would make a final ruling. the "star wars" original trilogy is returning to the big screen. the alamo draft house cinema chain is sponsoring, emsources 4, 5 and 6 will be screened together in more than 20 cities throughout the month of all. i was so crept out by that movie. >> another chance for people to go and see the whole thing -- >> it's really cool. i don't know if i can sit through 4, 5 and 6 all at one sitting. >> i might have to be among them. we'll see. thank you so much, sue. facebook is no longer the

social network most favored by teens. not even number two. details of a brand-new survey of straight ahead. and gabbie reece is here.

hey there, can i help you with anything? hey siri, what's at&t's latest offer? oh, i don't think that siri can... right now, switch to at&t for an iphone and get one free. wow, is that right? yeah, it's basically... yes. that is the current offer from at&t. okay siri, you don't know everything. i know you asked me to call you the at&t hostess with the mostest okay, shut her down. turn it off. right now, buy an iphone and get another one free when you add a second line.

shoshow me more like this.e. show me "previously watched." what's recommended for me. x1 makes it easy to find what you love. call or go online and switch to x1. only with xfinity.

we have some breaking news. courtney reagan has the details. >> reporter: that's right, gap announcing that sonia single will be leading the company's old navy business effective immediately. this is a transition from her current position leading gap's global supply chain. you mate re stephon left the position in october to join ralph lawrence as ceo, and gap shares sold off on that news. they've been searching for success. he tells me today he's more bullish than ever on the prospects, noting that it's not a reinvention, but marks a continuation of the momentum.

old navy has been the crown jewel for some time. s she's had various positions from supply chains to international. joe stanton, who is currently running the operations in the interim will move to an advisory position. kelley? >> all right, courtney. guys, what do you think? >> doesn't seem like a major jolt, but the street wants to see them revitalize that comp. >> it is sort of the crown jewel of alls brands. on the other side, i think within that statement more broadly fast fashion there are other names that have started to gain momentum. if they're not going to reinvent the brapd, the yes is are they behind the sometimes there? >> courtney, i know you're running around there. thank you so much. when it comes to teens and social media, snapchat is the

king. new research shows teens are using it more than they use instagram, facebook or twitter. for more let's bring in the analyst behind the report, gene muenster. carol is very excited about this. but, anyway, start off a bit by telling us how much, if it does surprise you that snapchat is now number one. >> it does price. it was a earning. we surveyed 6500 teens in the u.s. we do that every since months. snapchat went from 19% of the teens saying this was their prefer site and jumped up to 28. typically you don't see that jump. it surpassed instagram as the most popular which dipped from 33% as the preferred, down to 27. so you have snapchat at the top at 28%, then instagram at 27, then you have to drop down around to 20% for twitter and facebook. the surge was a surprise.

>> in terms of sfapchat, is this even a concern for facebook. ? obviously we're talking about the teen market. one thing we know with something like a social network is when you're a teenager, eventually you grow out of that social network. when you leave high school, you don't want to be doing the same kind of thing you were doing in high school, does this bode well for facebook instead of perhaps dinging them? >> it's something they need to track. one thing that mark zuckerberg talks about when they hit around a bill yoon users that's unique and they don't have to worry about competitive issues, but at the same time they go out and acquire companies, so i think they talk both sides of their mouth. so i do think they need to be concerned about it. i don't think investors need to be concerned the next couple years. for the reasons leek you said. the monetizable segment is older

than this, and they continue to have opportunities, facebook does. >> to that point it seems as if facebook is not necessarily saying let me go after the very frequent using. they're actually looking to say, let me become tv, tv you sit in front of it for hours at a time and people seem to be thinking that facebook can approximate maid something like that? >> maybe facebook or the combination can be the tv-like experience. i think that's what they want to cede. they need to be aware, but as far as how they're making money, they're doing the exact things you talked about. >> this wasn't just about technology. you also asked about top clothing brand. nike by far was number one, also top footwear and handbag, and top shopping web sides amazon the clear winner there. gene, thanks so much for joining

us. >> thank you. well, bye-bye kobe bryant. it is the blam mamba's last game tonight in la-la land, but the hottest game might be where the golden state warriors look to set the record for most wins in a season. we'll break the numbers down next. and the women's soccer team may boycott the games in rio this summer. there she is. up nebs that volley ball the star gabby reece will weigh in. you're watching cnbc, first in big worldwide. sup jj, working hard? working 24/7 on mobile trader, rated #1 trading app on the app store. it lets you trade stocks, options, futures... even advanced orders. and it offers more charts than a lot of other competitors do on desktop. you work so late. i guess you don't see your family very much? i see them all the time.

did you finish your derivatives pricing model, honey? td ameritrade.

welcome back. today the center of the universe for pro basketball is unquestionably california. kobe bryant playing his last game tonight while steph curry and the golden state warriors look to enter the history books. jane wells is outside the staples center with more on the face-off. jane? >> reporter: hey, kelly, the end of an era, and beginning of another. fans have started to gather. a woman bought a $94 ticket for $894. she said i'm a superfan and they are not great ticket. 8 and 24 were the two numbers he wore. fans inside were snapping up all

kinds of merchandise, though not sure anyone has yet bought one of the 24 karat gold caps selling for over $38,000. loan-time kobe sponsor nike pulling out all the stops, declares it mamba today, and releasing a hill lace injure youtube video, where kobe becomes a conductor of an orchestrate of haters ♪ well i hate you ♪ i hate you ♪ with all my heart ♪ i hate you ♪ i hate you >> for a guy who spend two decades so intently on winning, kobe has finally melo lowed, a as he leaves the scene, steph curry takes the stage. the golden state warriors could hit the record of 73 wins in a regular season. curry paid $12 million this

year, kobe paid $25 millen, of course kobe has five rings, steph only has one so far. this last thing, for me it seemed like yesterday when a teenager came and enjoyed the lakers, but as world star comedy weed out what video game graphics looked lie when kobe joined the league and what they look like now. isn't that amazing? >> that's hilarious. wow, that brings back memories. fascinating, jane, i will admit. last week i had the opportunity to waft the warriors played, showed up 90 minutes early to watch steph curry shoot around and they lost the game. this was the tuesday game, they couldn't hold it together. just an emotional and historical seas for that team. are you staying all night there, jane? >> reporter: no, no, my data texted me hey, mom, is there any way you can get some tickets. i'm lining, are you crazy? no.

no. i didn't score. maybe i with expense it for $95. maybe she'll sell it for two grand. if the lakers win took, that will be hilarious. imagine if the warriors lose tonight. i think that will be the bigger story. >> make under expense the $38,000 hat. as always, our jane wells out in los angeles. we have a superstar here at the new york stock exchange. gabrielle reece, who will be hostest the newest competition "strong." the ten episodes will have ten contestants pair up with elite trainers. let's now welcome gabby reece. this is a combination of all these different shows we see where we're saying it's definitely not a weight-loss

show, these ten women come in saying i'm looking to be my best self and find my voice and get dwipd. some women who maybe they are working have families, and they go, i've sort of lost who i am. they coupled with the ten trainers, and the trainers helped them and guide them and talk about movement and food and everything else, but the difference is they compete together as a team. so the trainers are putting it out there just as much, in some ways more. >> here's the million dollar question, did you get paid as much as the guys. >> i hope so. i've got to talk to somebody about that. hey, these worked mork than i did. >> what do you may of the women's soccer team, we've delivered so much for the u.s. in these olympics. do you think they're right? a. >> i've been around women's sports and profession at sports. when i played four and four on the beach we had better tv ratings, we were paid more, because we generated more

revenue. if the women's soccer team is saying, listen, in the last year we've made as much, absolutely. the tricky part is when you don't generate the revenue, even if you're fantastic and go, you know, 5,000 and 0, it's dealing with the business side. but i hear that they have really generated a lot of retch, so absolutely. they're generating the income. >> as we're talking about advocating for yourself as a woman, in your series "strong" how much of it is mental and how much is physical? i know for myself when i go to tackle something physical, most of the time the thing that's holding me back is up here, not the body. >> i think that's the most important in life. people see me and go physical, physical, physical. it's not. this job here, and people's lives, it's the mental. what you so see here is the women showed up making the decision, that's it, i've had enough, i have to make this change even though it's uncomfortable, i'm afraid. they fail, they get up.

you see it over and over. this is it is most important thing. you can take that with you everywhere. >> that's why i love the kobe bryant stories, as they're coming out, talking about the incredible work ethic. the day he was drafted he was shooting 1,000 baskets. >> i think that's why the olympics, people even pay attention to the actual event for the 3 1/2 or four years before that, but you hear the back stories. i'm wondering about the show, is it the kind of thing where you expect people will sort of pick a favorite and root for one? >> hey, listen, they pulled out all the stops. it's like some people you're going to go, i relate to her. even with the trainers, they have different modalities, so some may be like, wow, i didn't even know you could do that, so i think you will have your team in the end. >> we look forward to it.

can't wait to see how it sturges out. gabby, thank you for joining us. we should have done this standing up. >> and i could have worn heels and the whole thing. >> i like it this way. >> gabby reece, thank you so much. bernie sanders taking shots at verizon at a rally no striking workers today. up next, how long could this last? and how it could impact your service. stay tuned.

i am a technological breakthrough. this morning i read over 4000 articles on leukemia. in less than a second. (speaking japanese) i can understand euphemisms, idiosyncrasy and complex metaphors. i know every detail of every public quarterly report in the last 20 years. and i'm just getting warmed up. hello. my name is watson. together we can outthink the limits of what's possible. welcome to the cognitive era.

tens of thousands of verizon workers are going on strike today and it did get the attention of one presidential candidate. matter thompson has more. hi, mary. >> reporter: hey there, kelly. if you look over my right shoulder here you can see the picket lines on west 36th in new york city. they are empty. they were filled up earlier today and earlier today democratic presidential hopeful bernie sanders was walking the picket lines with verizon workers in brooklyn where he took a shot at verizon. >> this is just another major american corporation trying to destroy the lives of working americans. >> reporter: sanders' criticism of the telecom giant called contempable by the verizon ceo lowell mcadams but the employees don't care. one of the unions representing the more than 36,000 workers on

strike endorse sanders for president. as for the strike, workers say it's about preserving good jobs and verizon's shrinking land line business. it comes after nine months of talks failed to produce more contracts. the two main sticking talks are wage freezes and pensions. on the second issue verizon's bob mudd says it has no plan to move jobs but needs the union to agree to changes on how it routes these service calls. >> we're talking about flexibility to care for the customer the way we need to today and the way that our competitors would. >> now, verizon has been working on a backup plan for this strike since last spring. keep in mind this is the biggest strike in the u.s. since 2011. verizon says because it has been staffed with non-union workers customers can expect some disruptions when it comes to customer service calls. as to whether or not the two sides will head back to the

negotiating table verizon says it's ready and willing to do so when the unions say yes. kelly, back to you. >> lowell mcadam, mary, wrote onning linkedin a scathing rebuke of bernie sanders just saying he was setting the facts straight, saying he doesn't understand a thing of what he's talking about. by the way, now the second ceo to do this. we had jeff immelt similarly responding to comments from sanders on the campaign trail. that aside, is it possible that these workers, you know, verizon has apparently been training their replacements to work on power lines and work at call centers. could they keep those replacements or what happens next year? >> when they -- i'm sorry, i had trouble hearing you, kelly. you're asking what would happen with the workers who are on strike? >> what happens next year for the time line, what happens for the workers on strike? >> well, again, until the strike is ended, they are not working. everything is staffed with the non-union workers at verizon. you know, something i want to go back to that you mentioned

earlier about local mcadams, he was saying bernd is getting it wrong about verizon not paying its fair share of taxes which he defended the company with that. he also said that the verizon goes in and invests in the u.s. making capital investments to bring better service to clients as well. again, kelly, this is a reflection of what is happening in this presidential campaign. you have a very big and growing divide and angry divide between the workers who feel that they are consistently asked to make sacrifices for corporations who are increasingly posting big profits and until there is some kind of reconciliation between the two of them, i think you're going to see more ceos respond to the -- some of the -- the statements made by bernie sanders who obviously has the ear of the worker right now. >> they are not taking it lying down. thank, mary. mary thompson outside picketing site. new developments in the sumner redstone saga whether we come right back.

hey, jesse. who are you? i'm vern, the orange money retirement rabbit from voya. orange money represents the money you put away for retirement. over time, your money could multiply. hello, all of you. get organized at voya.com. you ppremium like clockwork. month after month. year after year. then one night, you hydroplane into a ditch. yeah... surprise... your insurance company tells you to pay up again. why pay for insurance if you have to pay even more for using it? if you have liberty mutual deductible fund™, you could pay no deductible at all. sign up to immediately lower your deductible by $100.

and keep lowering it $100 annually, until it's gone. then continue to earn that $100 every year. there's no limit to how much you can earn and this savings applies to every vehicle on your policy. call to learn more. switch to liberty mutual and you could save up to $509. call liberty mutual for a free quote today at see car insurance in a whole new light. liberty mutual insurance. i'v...i wanted to live...... on waterfront property. my favorite thing is that sound of that motor going by. it's where i want to be. whatever home means to you, we'll help you find it. zillow.

welcome back. we do have a news alert on sumner redstone. joorntsin has details. hi, julia. >> reporter: hi, kelly. that's right. sumner redstone's ex-girlfriend man wella herr'ser just applied for an order authorizing her to take sumner redstone's deposition, and she's asking to take that deposition herself on this coming monday.

she cites new evidence establishing that there were questions about redstone's capacity going back to april 2015, including in her -- in her order, i'm sorry in, her application for the order, some e-mails from attorneys. despite reports that the two sides were coming to a deal being two other depositions being delayed this confirmed settlement negotiations have broken down, and it does seem likely at this point we will see a trial. a judge is scheduled to hear this request tomorrow afternoon in los angeles. kelly, back over to you. >> is it unusual, julia, for a person to ask to do the deposition themselves? sounds strange to me. >> reporter: sounds strange. i'm not an expert in the legal issues and all the legalese, but i do know that they had applied previously for there to be a deposition of sumner redstone. now they are asking for her to do it themselves, and they are referencing some of these new e-mails that have surfaced raising questions by various

people about whether or not sumner redstone was aware of what was going on. back over to you. >> thanks so much, julia. the latest on that saga, of course. carol, mike, thank you guys for your time. >> go blackhawks and rangers. >> and warriors, an kobe, everybody. that does it for us. "fast money" begins right now. "fast money" starts right now. live from the nasdaq market site overlooking new york city's times square, i'm melissa least. our traders on the desk are pete najarian, tim seymour, dan nathan and guy adami. tonight on "fast" make or break time for stocks. the one area of the market that could send the s&p soaring to new all-time highs. that's the chart you've got to see. plus, is this the first real image of what could be the long-awaited apple car? it is a series of tweets and photos that are burning up the internet. we've got all the details. later, the scathing report on how valeant was built to fair has the streak talking all. was the ceo's wealth just smoke and mirrors. all